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Shares of Bank of America Corp and Citigroup Inc plummeted for the sixth straight day on Friday, hammered by increasing fears that the U.S. government could take the control of the banks, wiping out shareholders. Bank of America shares were down 6.6 percent to $3.66 in premarket trading, their lowest level since 1984, while Citigroup fell 12.3 percent to $2.20, their lowest price since 1991. The ...

U.S. stocks headed for a drop at Friday's opening that would extend a rout which has pulled the Dow Jones industrials to a fresh bear-market low, as worries about the fate of major banks escalated. Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of U.S. government bonds as stoc...

Bank of America Corp Chairman and Chief Executive Kenneth Lewis was subpoenaed last week by New York Attorney General Andrew Cuomo, who is investigating whether the bank violated state law by withholding information from investors, the Wall Street Journal said late Thursday, citing people familiar with the matter.

The Frankfurt-listed shares of U.S. banks Citigroup and Bank of America fell on Friday, with traders and analysts citing fears that big U.S. banks could be nationalized. At 1130 GMT, Citigroup shares were down 6.4 percent in Frankfurt and Bank of America traded 8.0 percent lower. Spokesmen for both banks in London declined to comment. Spokesmen for the banks in New York were unavailable for comm...

Citigroup Inc shares fell to almost 18-year lows on Thursday, with Bank of America Corp stock also plunging, amid renewed fears that growing losses could lead to government control of troubled U.S. banks, wiping out shareholders.

Citigroup Inc shares fell to 17-year lows on Thursday, with Bank of America Corp stock also plunging, amid renewed fears that growing losses could lead to government control of troubled U.S. banks, wiping out shareholders.

U.S. stocks fell to session lows on Thursday as shares of major banks, including Bank of America ,skidded, and further deterioration in the labor market added to worries about the deepening recession. Bank of America dropped 12.47 percent to $4 on the New York Stock Exchange, while Citigroup tumbled 11.3 percent to $2.58. Uncertainty about how the Obama administration w...

for U.S. credit cards rose to 7.82 percent in January from 7.71 percent in December, while the rate for loans at least 30 days delinquent increased to 5.02 percent from 4.78 percent. The McLean, Virginia-based company said it expects loan losses from U.S. cards to increase to 8.1 percent in the first quarter. In auto loans, Capital One's charge-off rate rose to 6.09 percent in January from 5.9...

for U.S. credit cards rose to 7.82 percent in January from 7.71 percent in December, while the rate for loans at least 30 days delinquent increased to 5.02 percent from 4.78 percent. The McLean, Virginia-based company said it expects loan losses from U.S. cards to increase to 8.1 percent in the first quarter. In auto loans, Capital One's charge-off rate rose to 6.09 percent in January from 5.9...

Bank of America announced it made a $402 million payment to the federal government to pay back the U.S. government's investment as part of the $45 billion in bailout funds it received last year and early this year.

The lawmakers of House Financial Service Committee on Wednesday are holding a hearing with chief executive officers of eight banks that received injections of capital from the government's Troubled Asset Relief Program.

Merrill Lynch & Co. is reported to have given out a combined $121 million bonuses to the four top executives just before the firm was acquired by Bank of America Corp., according to New York Attorney General Andrew Cuomo.

On Tuesday the co-head of UK corporate broking firm, Merrill Lynch, announced his resignation with effect from end of April.

Bank of America shares rose 20 percent Friday morning after a research note from analyst Richard Bove may have assuaged investors' fears that the bank is in danger of failure and nationalization.

Bank of America shares rose 20 percent Friday morning after a research note from analyst Richard Bove may have assuaged investors' fears that the bank is in danger of failure and nationalization.

Shares of Bank of America Corp., the largest U.S. bank, declined sharply to their lowest level since 1984 on Thursday in New York trading on concern that the bank does not have enough capital even with a $138 billion bailout package.

Shares of Bank of America Corp., the largest U.S. bank, declined sharply to their lowest level since 1984 on Thursday in New York trading on concern that the bank does not have enough capital even with a $138 billion bailout package.

This week, seven major corporations announced major layoffs, adding 72,000 to the unemployed. At the same time, lending by the big banks fell. With falling demand for loans,

Citigroup will use $36.5 billion to issue mortgages, credit card loans and buy distressed assets in the credit market in the coming months, the Associated Press reports citing a report from the firm.

Citigroup will use $36.5 billion to issue mortgages, credit card loans and buy distressed assets in the credit market in the coming months, the Associated Press reports citing a report from the firm.

New York attorney general Andrew Cuomo may demand the return of the $4 billion paid in bonuses by Merrill Lynch & Co. to its executives in December, Bloomberg reported quoting an anonymous source.

Bank of America is planning to defer 2008 bonus payments to some staff at its capital-markets and investment banking units, the Financial Times reported quoting executives familiar with the matter.

Shares of major banks in the U.S. rose early Wednesday pulling up the financial sector on optimism that President Barack Obama's administration may go ahead with a plan to buy bad assets in the financial system creating the so-called bad bank.

Prominent executives have stepped away from attendance at the World Economic Forum 2009 in Davos, Switzerland which kicks off Wednesday, citing illness, the need to deal with pressing matters, or just avoiding the spotlight under tough economic circumstances.

New York's attorney general Andrew Cuomo on Tuesday issued a subpoena to former Merrill Lynch Chief Executive John Thain to testify on the payment of bonuses to executives worth $4 billion.

John Thain, former Chief Executive of Merrill Lynch & Co. pledged to reimburse to the firm the $1.2 million he spent to renovate his office saying it was a mistake.

Bank of America had a role in the payment of bonuses worth $4 billion that Merrill Lynch approved for its executives ahead of the brokerage's sale to BofA, the Financial Times reported Sunday.

Bank of Americas' shareholders are filing lawsuits against the company, its chief executive Kenneth Lewis and former Merrill Lynch CEO John Thain, claiming they weren't told about the true financial condition of Merrill Lynch before the banks merged in December.

Quietly and with little fanfare, the ownership of hundreds of public companies in the United States has moved from being dispersed among many players to being concentrated in the hands of a just a few. But it's not big banks that are dominating corporate ownership, as in the past. Instead it's mutual funds that hold almost 30 percent of U.S. corporate ownership today, compared with 8 percent in ...