Consumer and labor groups demanded Bank of America Corp and other lenders reform their sales practices so that workers under pressure to meet sales quotas do not saddle customers with costly and unnecessary products.
Stocks slid on Tuesday as a surprising drop in a gauge of consumer confidence sparked caution about the economy's recovery prospects, hurting industrial, technology and energy shares.
The fifth round under the Federal Reserve's TALF program grew to $8.1 billion on Tuesday and is largely being shaped by auto ABS issuers as two new deals join the queue of securities offered ahead of the July 7's subscription deadline.
Billionaire investor George Soros on Tuesday predicted a stop-go economy for the United States, saying fears of inflation will drive up interest rates and choke off growth.
U.S. stock futures were modestly higher on Tuesday ahead of a new round of data that may give investors insight into the state of the recession-hit economy on the last day of the second quarter.
U.S. stock futures were flat on Tuesday ahead of a batch of new data that may give investors insight into the state of the recession-hit economy on the last day of the second quarter.
Stock futures pointed to a higher start on Wall Street on Tuesday, with futures for the S&P up 0.4 percent, Dow Jones futures up 0.2 percent and Nasdaq 100 futures up 0.1 percent at 5 a.m. EDT.
Bernard Madoff was sentenced on Monday to 150 years in prison -- the maximum penalty the judge could give him for extraordinarily evil crimes in Wall Street's biggest and most brazen investment fraud.
Stocks rose on Monday as higher oil prices lifted shares of energy companies and fund managers snapped up this quarter's winners to burnish their portfolios.
Stocks rose on Monday as higher oil prices lifted shares of energy companies and investors bought shares to improve their holdings on the day before the second quarter draws to a close.
Disgraced financier Bernard Madoff was sentenced to 150 years in prison Monday for perpetrating Wall Street's biggest and most brazen investment fraud, the maximum punishment allowed for what the judge called extraordinarily evil crimes.Cheers and applause came from the courtroom -- filled with his fleeced investors -- as the judge handed down the penalty, apparently unconvinced that Madoff h...
Asset management and servicing giant State Street Corp said it might face civil charges by U.S. securities regulators for exposing investors to losses on subprime mortgages.The company said on Monday that Securities and Exchange Commission staff had issued a Wells notice to its banking unit on Thursday regarding disclosures and management by State Street Global Advisors of acti...
U.S. stock futures were flat to higher on Monday as investors looked to new data later in the holiday-shortened week for clues over the direction of the recession-hit economy.
U.S. stock futures were flat to higher on Monday as investors looked to new data later in the holiday-shortened week for clues over the direction of the recession-hit economy.
Dow Jones futures dipped 0.1 percent, S&P 500 futures were down 0.01 percent while Nasdaq futures traded 0.02 percent higher on Monday morning at 4:45 a.m. EDT, pointing to a flat opening for Wall Street's main equity indexes.
U.S. commercial banks reported record trading revenue in the first quarter of 2009, benefiting from wide trading margins and gains from interest rate products, the Office of the Comptroller of the Currency said on Friday.
U.S. regulators closed four small banks on Friday -- two in Georgia, one in Minnesota and one in California, bringing the total of U.S. bank failures to 44 this year.
As hard-hit Western banks and hedge funds scramble to sell their Asian loans and bonds, one newcomer expects to pick up these choice assets at rarely seen discounts.
The Nasdaq rose on Friday, helped by gains in smartphone maker Palm Inc while other indexes ended little changed in choppy trading.
Hartford Financial Services Group Inc said on Friday it has taken $3.4 billion of federal bailout money, the maximum it was authorized to accept, to bolster capital in the wake of large investment losses.
The Dow and the S&P 500 fell on Friday as a jump in the savings rate raised worries the economic recovery will not make much headway if consumers stay frugal, and a slide in crude futures prompted investors to sell some energy shares.
U.S. stocks faltered on Friday as weak oil futures pressured energy shares and a jump in the savings rate raised worries the economic recovery will not make much headway if consumers continue to be frugal.
