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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 ...

Merrill Lynch & Co paid bonuses to executives, estimated to be worth billions of dollars, just three days before the company's sale to Bank of America closed, reports said Thursday.

Former chief executive officer of Merrill Lynch & Co. John Thain has resigned from Bank of America Corp, three weeks after the companies merged. Last week, Merrill Lynch reported greater than expected losses for its fourth quarter, forcing BofA to receive additional government bailout funds.

U.S. stock slumped Tuesday after President Barack Obama gave his inauguration speech on concerns the economic recession will deepen after dismal financial data.

Bank of America on Friday said it has secured a $20 billion government investment to assist in acquiring brokerage Merrill Lynch. The government will also cover a majority of losses linked to Merrill's assets.

Bank of America Corp requesting additional capital from the U.S. Government, according to people familiar with the situation quoted by reports today. The aid will help absorb losses related to the purchase of Merrill Lynch last month, a sale which the government favored to prevent further turmoil in the financial system.

Rock band Bon Jovi is scheduled to perform in New York City's Central Park on July 12 for free as a prelude to the All Star Baseball Game 2008, New York City officials said on Monday.

Bank of America Corp. said it will complete its purchase of Countrywide Financial Corp by July 1 and then cut 7,500 jobs as part of the combination of the companies.

U.S. stocks rose on Tuesday on speculation that weaker consumer confidence and a record plunge in home prices will ensure the Federal Reserve to maintain interest rates at current levels, while United Parcel Service set new multiyear low.

U.S. stocks on Tuesday fell for the first time in four days after Goldman Sachs predicted anks will have to raise $65 billion in new capital to cover losses in the face of economic data that further highlights soaring inflation amidst a troubled housing market.

US banking giant, Bank of America, is free to take over the country's biggest mortgage lender, Countrywide Financial after gaining the Federal Reserve's approval.

Morgan Stanley, Merrill Lynch & Co. and Lehman Brothers Holdings Inc. had their credit ratings cut on Monday by Standard & Poor's on concerns that continued weakness in the sector could lead to more write-offs.

Wall Street began June in the red, falling for the first time in five days, as the Dow quickly lost more than 100 points Monday morning on more worries about the financial sector after Wachovia Corp. ousted its chief executive.

Bank of America Corp. plans to raise its stake in China Construction Bank Corp. by exercising part of an option, to boost its stake to 10.75 percent from 8.5 percent, the Chinese bank said on Wednesday.