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Discount brokerage Charles Schwab Corp. said on Monday it is undertaking a $3.5 billion capital restructuring program following completion of the sale of U.S. Trust Corp., sending its shares up more than 7 percent.

Bank of America Corp. said on Monday it completed its $3.3 billion purchase of the U.S. Trust business from Charles Schwab Corp., and is defying analyst concern that it would have trouble retaining many of U.S. Trust's ultra-wealthy clients.

The earnings prospects of Chinese commercial banks are clouded by their excessive reliance on interest income and sub-standard internal controls, top domestic and overseas bankers said on Saturday.

KB Home, the No. 5 U.S. home builder, posted a quarterly net loss on Thursday, partly on land value-related charges that reflect the continuing decaying U.S. housing market.

Dutch Advocate General says ABN can sell its U.S. bank, LaSalle, without a shareholder vote.

Yahoo Inc. is merging the two main parts of its U.S. advertising business after veteran sales executive Wenda Harris Millard resigned, the latest in a string of executive departures.

Visa, the world's largest credit card network, unveiled details of a planned restructuring on Friday as it prepares by early next year to follow smaller rival MasterCard Inc. in becoming a public company.

U.S. stocks edged higher on Tuesday as a dip in Treasury bond yields tempered investors' interest-rate worries and boosted financial stocks. Shares General Electric Co., the second largest U.S. company rose more than 3 percent.

Goldman Sachs Group Inc. barely managed to show a rise in quarterly profit as a sharp drop in fixed income trading revenue offset record investment banking fees and strong equities income.

Global stocks surged ahead on Thursday led by overnight Wall Street gains as bond markets settled down after more than a week of losses.

Barclays has drawn up contingency plans for a big cash sweetener to strengthen its all-share offer for Dutch bank ABN AMRO, the Financial Times reported on Wednesday.

Investment bank and brokerage Merrill Lynch & Co., Inc (NYSE: MER), announced Monday that that it will purchase a minority stake in investment management firm GSO Capital partners LP.

Citigroup, Inc. (NYSE: C) unveiled a $50 billion initiative to address global climate change by supporting the commercialization and growth of alternative energy and clean technology.

Yahoo! Inc. (YHOO) announced on Monday that it has formed an advertising distribution alliance with seven companies representing more than 150 newspapers across the United States.

How much does terrorism affect stock prices?To find the answer, economists have parsed market reaction to events dating back to the 1915 sinking of the Lusitania, academics have studied how attacks on McDonald's restaurants have affected the company's stock price and researchers in Israel have chronicled what 13 years of suicide bombings did to stocks there.

The surprise timing of China's latest interest rate rise partly reflects political pressure and shows the central bank falls short of the transparency and predictability that are the hallmarks of its rich-country peers.

Employment in Europe appears to be rising in earnest following years of sluggish economic growth when companies either cut staff or shunned new recruits to safeguard profits.

Profits at large U.S. banks are up, but not as much as they could be. This week and next, banks are reporting their earnings as Wall Street investors cautiously note the factors that could mean lower earnings.

A year since China untethered the yuan from the dollar, arguments are intensifying whether to let inflation rise in order to bring about the real exchange rate appreciation needed to adjust the country's lopsided economy.

U.S. stocks slid on Friday after another warning from a Federal Reserve official about inflation, giving investors more reason to think the Fed will keep raising interest rates.

U.S. stocks rose on Thursday after Federal Reserve Chairman Ben Bernanke said the Fed may pause in its 22-month campaign of raising borrowing costs, lifting shares of interest-rate sensitive companies such as banks and utilities.