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Stocks extended gains on Thursday even although a government report showed new home sales fell to a record low in January. Bank shares were a standout following news the Obama administration may request money to shore up banks. Shares of Citigroup rose 6 percent to $2.67 and Bank of America gained 11 percent to $5.73. The S&P Financial index climbed 4.9 ...

Just as Wall Street was coming to grips with the notion that bank nationalization might be inevitable, U.S. officials have come out strongly against an idea that strikes at the heart of America's capitalist model.

Stocks rose at the open on Thursday as investors snapped up financial shares following news the Obama administration may request more money to shore up banks. Reassuring news on the banking sector from Europe also buoyed sentiment, offsetting grim U.S. government data that showed the labor market worsening and a slide in durable goods orders. Citigroup rose 11.5 percent to $2.81 while ...

Bank of America is looking to sell a private bank it inherited from Merrill Lynch & Co, a banker familiar with the situation said on Wednesday.

Bank of America is looking to sell a private bank it inherited from Merrill Lynch & Co. as the bank tries to preserve capital and possibly shed noncore assets, said a report on the Wall Street Journal's Web site, citing people familiar with the situation.

Stocks fell on Wednesday due to disappointment U.S. President Barack Obama shed little new light about how his administration would stabilize the economy in a major speech before Congress. Long-standing worries about recession and the fate of the banking sector persisted, sending shares of financial services companies, big manufacturers and energy companies lower. Bank of America s...

Amid a time of crisis for the financial industry, shareholders of BB&T Corp., one of the largest U.S. regional banks, will continue to see steady dividend payments for fourth straight quarter although payout growth is slowing compared to previous years.

Bank of America Corp Chief Executive Kenneth Lewis said the largest U.S. bank does not need more federal aid and is in better shape than most rivals, even as rumors, innuendo and falsehoods cause its stock to fall.

Wall Street's fat cats are in the public's doghouse, and it could be a long time -- if ever -- before the eye-popping paychecks and glamour of the last two decades return.

Stocks rose on Tuesday as investors snapped up beaten-down shares while reassuring results from Home Depot Inc boosted sentiment a day after Wall Street sank to a 12-year low. The benchmark S&P 500 index held a slight edge above its November bear market low as an advance in such shares as Bank of America and JPMorgan Chase eclipsed news th...

Thomson Reuters Corp posted a stronger-than-expected quarterly profit, raised its dividend and said it expected revenue to grow in 2009 despite job cuts and reduced spending among its financial industry customers. The news and financial data publisher, whose shares rose as much as 6.5 percent on the results, said on Tuesday that all its businesses would help increase...

Thomson Reuters Corp posted a stronger-than-expected quarterly profit, raised its dividend and said it expected revenue to grow in 2009 despite job cuts and reduced spending among its financial industry customers. The news and financial data publisher, whose shares rose as much as 6.5 percent on the results, said on Tuesday that all its businesses would help increase...

American International Group, rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be the biggest loss in a quarter in corporate history.

Stocks rose on Tuesday as investors snapped up shares in beaten-down sectors, including financials, a day after Wall Street skidded to a 12-year low. The benchmark S&P 500 index held a slight edge above its November bear market low, as JPMorgan , up 3 percent, and Citigroup , up almost 5 percent, led a rebound in financial shares. Shares of Home Depot <...

By Jonathan Stempel NEW YORK - JPMorgan Chase & Co, the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector. The bank also said it has been solidly profitable this quarter, and that the outlook for the three-month period is roughly in line with analyst forecasts. Sha...

A judge on Monday ruled that former Merrill Lynch & Co Chief Executive John Thain is free to disclose the names of individuals who received bonuses awarded by the former investment bank before it was bought by Bank of America Corp.

JPMorgan Chase & Co , the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector. The bank also said it has been solidly profitable this quarter, and that the outlook for the three-month period is roughly in line with analyst forecasts. Shares rose 5.5 percen...

JPMorgan Chase & Co, the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector.

namely, to help stabilize the banking system and economy. The bank said it hopes to return to a more normalized dividend as soon as feasible once the environment stabilizes. Bank of America Corp and Citigroup Inc , JPMorgan's largest rivals, have slashed their dividends to a penny per share since November. Shares of JPMorgan fell 30 cents to $19.21 in after-hour...

Even if the government took a large common equity stake in Citigroup Inc, worries would likely persist about the bank's ability to absorb soaring losses in a deepening recession. The third-largest U.S. bank by assets is in talks with federal regulators on a plan for the government to increase its stake, a person familiar with the matter said. Converting $45 billion of preferred stock, which the ...

New York state's top legal officer filed a court motion on Monday to compel former Merrill Lynch CEO John Thain to discuss $4 billion in employee bonuses, ratcheting up its probe into a hot-button issue in the recession.

New York state's top legal officer filed a court motion on Monday to compel former Merrill Lynch CEO John Thain to discuss $4 billion in employee bonuses, ratcheting up its probe into a hot-button issue in the recession. New York Attorney General Andrew Cuomo alleged that Thain, who was ousted from Bank of America Corp in January just three weeks after the companies merged, said Bank of America ...

Even if the government takes a large common equity stake in Citigroup Inc, worries are likely to persist about the bank's ability to absorb soaring losses in a deepening recession.

U.S. stocks fell on Monday due to uncertainty about the likely success of the government's latest bid to shore up beleaguered banks, including Citigroup , and a drop in technology shares pulled indexes lower. Initially, investors welcomed reports that the government could convert an earlier investment in Citigroup into a larger common stock holding as a sign the United States is ready...

The Dow and the S&P 500 stock indexes rose on Monday as investors took reports that Washington could convert its holding in Citigroup to a larger stake as a sign that it is ready to forestall further paralysis of the financial system. But with investors snapping up beaten-down financial shares, money moved out of the technology sector, causing the Nasdaq to drift into negative ter...

Stocks headed for higher open on Monday as investors took reports that Washington could take a bigger stake in Citigroup as the surest sign yet that it is ready to avert further paralysis of the financial system. A report in the Wall Street Journal said the U.S. government may end up holding as much as 40 percent of Citigroup's common stock. Last week shares of Citigroup and Bank of...

Stocks headed for higher open on Monday as investors took reports that Washington could take a bigger stake in Citigroup as the surest sign yet that is ready to avert further paralysis of the financial system. A report in the Wall Street Journal said the U.S. government may end up holding as much as 40 percent of Citigroup's common stock. Last week shares of Citigroup and Bank of A...

Citigroup Inc is in talks to give the U.S. government a larger stake, a person familiar with the matter said, which could provide the government with a far greater say in the affairs of the ailing banking giant.

Stock index futures rose on Monday as investors took reports that the U.S. government could take a bigger stake in Citigroup as signaling it is ready to avert further paralysis of the financial system. A report in the Wall Street Journal said the government may end up holding as much as 40 percent of Citigroup's common stock. Last week shares of Citigroup and Bank of America