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Stocks headed for a modest bounce at the open on Tuesday, with investors likely to scour the market for beaten-down shares in sectors such as financials after Wall Street skidded to a 12-year low a day earlier. The benchmark S&P 500 index will start the regular session less than three points from a fresh bear market low, raising the potential for the market to sink on any fresh s...

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 ...

American Express Co., battered by mounting credit card losses, is offering $300 to a limited number of U.S. card holders who pay off their balances and close their accounts, the company said on Monday.

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.

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.

Bank of America Corp shares sank below $3 and Citigroup Inc tumbled below $2 on Friday, hammered by growing fears that the U.S. government could nationalize the banks, wiping out shareholders.

and it's getting worse, said Nouriel Roubini, a prominent New York University economist who forecast much of the credit and housing recession. The cost of insuring $10 million of Citigroup debt for five years rose to $475,000 annually from $405,000 on Thursday, according to data from Phoenix Partners Group. The cost of insuring Bank of America debt rose to $275,000 a year from $245,000. S...

Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.

Freddie Mac, the No. 2 U.S. home funding company, on Wednesday sold a record $10 billion three-year reference notes, the largest single new issue since the government-sponsored enterprises started global note programs over a decade ago.

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.

JP Morgan Chase chief Executive Jamie Dimon will call for regulatory modernization as a necessary component of long-term recovery for the economy. He notes there is an immediate need for a systemic risk regulator which will be able to track financial businesses across the banking, securities and insurance businesses instead of the current fragmented system.

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.

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 ...

JP Morgan Chase which was expected to break even or report a small loss in the fourth quarter said Thursday its profit plunged 76 percent.

In the eyes of Jamie Dimon, JP Morgan Chase Chief Executive Officer, the worst of the economic crisis has not come yet, predicting the financial sector will see more problems with consumer loans and credit cards, he said in an interview with the Financial Times.

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 fell on Monday for the first time in three days, giving back some of Friday's gains, after a bigger-than-expected drop in New York state manufacturing and a decline in the dollar cast doubts about the state of the U.S. economy, while oil jumped $4 a barrel.

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.

Bear Stearn's Cos. shareholders on Thursday gave their approval to sell the investment bank to rival JPMorgan Chase & Co. for about $2.2 billion.

Financial shares fell on Tuesday, triggered by renewed concerns about the economy.

JPMorgan Chase & Co will keep about 45 percent of Bear Stearns Cos. employees after the two banks complete their merger, JPMorgan's chief executive said.

An Openheimer & Co group of analysts led by Meredith Whitney cut their earnings outlook for major U.S. banks, saying the current credit crisis is not close to ending.