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JPMorgan Chase & Co said on Wednesday quarterly profit fell a worse-than-expected 24 percent as the No. 3 U.S. bank lost $1.3 billion on risky mortgages and set aside more money for rising losses on home-equity and auto loans. The bank quadrupled to $1.1 billion the provision it needs to cover continued problems on home equity and subprime mortgage loans.

U.S. stocks rose for a second day on Thursday after Federal Reserve Chairman Ben Bernanke pledged to further cut interest rates and on news that Bank of America is reported to buy struggling mortgage lender Countrywide Financial Corp.

Billionaire Joseph Lewis disclosed in a regulatory filing on Wednesday that he has increased his stake in hard-hit investment bank Bear Stearns Cos to 9.57 percent.

Bear Stearns Cos Inc posted a much bigger-than-expected quarterly loss on Thursday, capping a fiscal year when the fifth-largest U.S. investment bank took a beating on bad bets on risky subprime mortgages. It was the first loss in the company's history, and the bank decided top executives would not receive bonuses.

Stocks headed for a higher open on Monday, with financial shares set to lead gains after news of the latest large capital injection into a major bank by wealthy investors.

U.S. stocks rose steadily for a second day on Thursday, with financial shares climbing on expectations that government plan to be unveiled today may help banks’ profits by limiting subprime mortgage defaults.

The Dow and S&P 500 rose on Friday, capping a dismal November with a four-day rally, as financial stocks rallied on optimism over a proposed rescue for struggling homeowners and on heightened expectations for more interest-rate cuts.

Dell, the world’s second-largest personal-computer maker, decreased $3.80 to $24.33, being viewed as the biggest drag on the S&P 500.

Morgan Stanley Co-President Zoe Cruz is retiring as the subprime mortgage crisis ends a 25-year tenure for a woman who had been seen as the front-runner to succeed Chief Executive John Mack.

Morgan Stanley Co-President Zoe Cruz is retiring as the subprime mortgage crisis ends a 25-year tenure for a woman who had been seen as the front-runner to succeed Chief Executive John Mack.

Bear Stearns Cos Inc (BSC.N) is cutting 650 jobs or 4 percent of its global workforce as the investment bank seeks to lower costs after losing bets on risky subprime mortgages. Of those cuts, around 20 will be in London, both in the front and back office, a source familiar with the situation said on Wednesday. The bank employs about 1,500 in London.

Stocks rebounded on Friday in an abbreviated session as the start of holiday shopping lifted retail stocks, while progress in a plan to relieve the credit market's strain aided bank shares. Shares of JPMorgan Chase, Bank of America and Citigroup all rose more than 2 percent. The three banks, spearheading an effort to establish a superfund to ease problems in the credit market, are expected to seek support from others in the industry.

Stocks slid on Wednesday as fears of more credit losses and mortgage defaults sunk shares of financial services companies, while worries about the impact of near record crude oil prices hit retailers and shares of big manufacturers.

Fresh off multi-billion write downs, officials at two major financial services firms are being sued by shareholders alleging that they concealed heavy exposure to risky subprime mortgages.

Stocks fell on Monday as a downgrade of Citigroup, the No. 1 U.S. bank, fueled a sell-off in shares of financial services companies on renewed worry about mounting credit losses.

The top three U.S. banks have agreed on the structure of a backup fund of at least $75 billion to stabilize credit markets, The New York Times reported on Sunday.

Does Asia have more to fear from rising petrol prices as crude oil hurtles towards $100 a barrel than it does from slowing growth in its biggest export market of the United States?

When Charles Prince replaced Sanford Sandy Weill at the helm of Citigroup Inc, he was given the unenviable task of replacing a legend. Shareholders feared he could never fill Weill's shoes. They may soon be proven right.

Stocks rose on Wednesday, fueled by investors' expectations the Federal Reserve will cut interest rates later on Wednesday and a stronger-than-expected performance by the economy in the third quarter.

Bank of America Corp on Wednesday said it planned to eliminate 3,000 jobs, and shook up its corporate and investment bank after a dismal quarter at that unit led to a 32 percent drop in overall profit.The second-largest U.S. bank said a majority of the cuts will be in corporate and investment banking, and the rest elsewhere. The cuts amount to 1.5 percent of the bank's 198,000-person workforce.

Stocks were mixed in late trading on Monday with broader indexes posting small declines while the technology stocks rose higher ahead of Apple’s quarterly earnings announcement.

Barclays and Royal Bank of Scotland have lined up emergency funds of up to $30 billion from the U.S. Federal Reserve to bail out American clients caught up in the global credit crunch, a paper said.

Wachovia Corp posted on Friday a 10 percent decline in third-quarter profit, missing forecasts, as the fourth-largest U.S. bank suffered $1.3 billion of write-downs at its investment banking unit.

Bank of America Corp, the second-largest U.S. bank, posted a much larger-than-expected 32 percent drop in quarterly profit on Thursday, hurt by mounting credit losses and dismal investment banking results.

A plan by top U.S. banks to set up a fund preventing the forced sale of billions of dollars of hard-to-value securities faces some serious obstacles. Any forced selling could set off a chain reaction, ultimately slowing economic growth in the United States and Europe.

JPMorgan Chase & Co Inc said on Wednesday third-quarter net income rose 2.3 percent despite $1.64 billion in write-downs on leveraged loans and collateralized debt obligations.

Stock futures rose on Wednesday as a rush of stronger-than-expected profits from such blue chips as Intel, United Technologies and JPMorgan Chase reassured investors about the earnings outlook.

U.S. stocks fell on Monday, led lower by the financial services sector after Citigroup Inc offered a gloomier outlook and worries resurfaced about the stability of the buyout market.

Shares of Sony Financial Holdings Inc rose nearly 4 percent on their debut on Thursday, as a stock market rebound boosted demand for the financial firm that recently completed Japan's largest IPO this year.