U.S. consumer sentiment fell unexpectedly this month, tempering optimism inspired by news of a rise in U.S. industrial production in September for a third consecutive month.
Bank of America Corp posted a $1 billion quarterly loss on Friday as consumer credit woes eclipsed investment banking earnings, underlining why the bank remains on a government respirator.
U.S. stocks fell on Friday after disappointing results from General Electric Co and Bank of America Corp demonstrated the road to economic recovery will be bumpy.
U.S. stocks fell on Friday after disappointing results from General Electric Co and Bank of America Corp demonstrated the road to economic recovery will be bumpy.
The dollar recovered some of the week's losses on Friday, as news of a large quarterly loss at Bank of America and flagging consumer confidence dulled investor demand for higher-yielding, higher-risk currencies.
(Corrects spelling of McDonald's name in paragraph 4)
Crude oil rose to a one-year high above $78 a barrel on Friday after data showed U.S. industrial production expanded in September, boosting optimism for an economic recovery.
The FBI announced Friday they have charged and arrested Galleon Group founder Raj Rajaratnam and five others in connection with a $20 million insider-trading case.
Galleon hedge fund partner Raj Rajaratnam and five others were charged with crimes including securities fraud and conspiracy involving insider trading that generated more than $20 million in profits, U.S. prosecutors and the FBI said on Friday.
All financial firms have benefited from U.S. taxpayer support and must yield to efforts to tighten regulation to prevent a future crisis, White House economic adviser Lawrence Summers said on Friday.
U.S. stocks fell on Friday after disappointing results from General Electric Co and Bank of America Corp illustrated the road to economic recovery is still bumpy.
Galleon Group founder Raj Rajaratnam and five others were charged with engaging in the largest ever hedge fund insider-trading scheme, generating profits of more than $20 million over several years, U.S. prosecutors, the FBI and the SEC said Friday.
Galleon hedge fund partner Raj Rajaratnam and five others were charged with crimes including securities fraud and conspiracy involving insider trading that generated more than $20 million in profits, U.S. prosecutors and the FBI said on Friday.
Crude oil prices fell from a one-year high above $78 a barrel on Friday, as investors questioned whether an $8-a-barrel rally since last week was warranted with global oil stocks still high.
U.S. stocks dropped sharply on Friday after quarterly results from General Electric Co and Bank of America Corp showed that an economic recovery may be slow and bumpy, denting a four-day rally fueled by earnings optimism.
Top mobile phone maker Nokia Oyj installed new leaders at its struggling cellphone business on Friday, bringing in a manager from rival Apple, a day after posting its first quarterly net loss.
Wall Street fell on Friday after disappointing quarterly results from Dow components General Electric Co and Bank of America Corp threatened a weak end to an otherwise strong, earnings-fueled week.
Oil retreated from a year-high above $78 touched early on Friday after a renewed focus on brimming inventories, disappointing corporate earnings and a slip in consumer confidence chipped away at bullishness across financial markets.
U.S. consumer sentiment fell unexpectedly this month on persistent worries that the dismal state of personal finances would not recover quickly from the worst recession in decades, a report showed on Friday.
Halliburton Co posted a 61 percent drop in quarterly profit on Friday, hurt by weak North American natural gas activity, but the figures topped Wall Street forecasts.
Bank of America Corp posted its second quarterly loss in less than a year as it suffered from consumer credit losses.
U.S. industrial production rose in September for a third consecutive month, Federal Reserve data showed on Friday, suggesting the economy closed out the third quarter with surprisingly strong growth.
Wall Street was set to drop at the open on Friday after disappointing quarterly results from Dow components General Electric Co and Bank of America Corp dragged stock futures lower.
Bank of America Corp posted a wider-than-expected third-quarter loss as improvement in its Merrill Lynch investment banking unit failed to offset consumer credit woes, sending its shares down 4.5 percent .
Canada's dollar fell versus theU.S. currency early on Friday after domestic inflation data didnot alter expectations that the Bank of Canada can keep itspledge to leave interest rates steady through mid-2010.
Wall Street was set to drop at the open on Friday after disappointing quarterly results from Dow components General Electric Co (GE.N) and Bank of America Corp (BAC.N) dragged stock futures lower.
First Horizon National Corp (FHN.N), the largest bank in Tennessee, reported a narrower-than-expected quarterly loss, helped by a 46 percent decrease in provision for bad loans.
Wall Street was set to drop at the open on Friday after disappointing quarterly results from Dow components General Electric Co and Bank of America Corp dragged stock futures lower.
The largest U.S. mortgage insurer MGIC Investment Corp (MTG.N) said it may not be able to repay amounts owed under its notes due in 2011, and posted a worse-than-expected third-quarter loss due to an increase in delinquencies.
Britain's top share index was lower at midday on Friday, led by banks after quarterly earnings numbers from Bank of America Corp (BAC.N) and General Electric (GE.N) disappointed.
