Bank of America Corp said on Monday it does not have plans to raise $10 billion in common equity, as the Financial Times had reported.
Bank of America Corp said on Monday it does not have plans to raise $10 billion in common equity, as the Financial Times had reported.
Citigroup Inc is looking to raise any additional capital it might need from private investors, rather than giving more control to the government, Bloomberg reported on Monday, citing people briefed on the matter.
Wall Street was set for a modestly higher open on Monday as investors were hopeful banks will be able to raise any capital they may need as a result of findings in the government stress tests, but jitters over the health of the sector persisted.
Stock futures pointed to a higher open on Monday as investors were hopeful banks will be able to raise any capital they may need as a result of findings in the government stress tests.
Stock index futures pointed to a higher open on Wall Street on Monday ahead of key housing data.
Asian stocks punched to a seven-month peak on Monday, fueled by confidence the global economy is recovering faster than expected and a further jump in Taiwanese shares on hopes for an influx of Chinese investment.
Being a big insurer will cost Berkshire Hathaway Inc dearly when severe catastrophes strike, but it is a good place to be in the midst of an economic downturn, Chairman Warren Buffett said.
Warren Buffett is fond of newspapers -- he reads five a day -- but the billionaire investor warned shareholders of his Berkshire Hathaway Inc that the reeling industry may never recover because it lacks a sustainable business model.
Warren Buffett told a record crowd at a somber annual meeting of his Berkshire Hathaway Inc that first-quarter operating profit fell and the company's book value declined 6 percent, as the recession hurt many of the company's businesses and investments.
Warren Buffett told a record crowd at a somber annual meeting of his Berkshire Hathaway Inc that first-quarter operating profit fell and the company's book value declined 6 percent, as the recession weighed on many of the company's businesses and investments.
Warren Buffett acknowledged on Saturday that his Berkshire Hathaway Inc will probably lose money on some of the derivatives contracts that have prompted some to speculate that the world's most famous investor has lost his touch.
Warren Buffett on Saturday expressed strong support for Wells Fargo & Co, one of the largest equity holdings of his Berkshire Hathaway Inc, saying it is a fabulous bank that is well-positioned to ride out the financial crisis.
Warren Buffett on Saturday said he believes the Berkshire Hathaway Inc derivatives contracts tied to equity stock indexes will probably make money, but those tied to the credit quality of junk bonds may end up in the red.
U.S. stocks keep proving the naysayers wrong, as major averages continue to gain despite expectations for the recent rally's demise. And next week may be no different.
The amount of capital that Citigroup Inc would need to raise after U.S. stress test results are finalized is likely to be manageable if the bank needs to boost its equity at all, people familiar with the matter said on Friday.
The amount of capital that Citigroup Inc would need to raise after U.S. stress test results are finalized is likely to be manageable if the bank needs to boost its equity at all, people familiar with the matter said on Friday.
The amount of capital that Citigroup Inc would need to raise after U.S. stress test results are finalized is likely to be manageable if the bank needs to raise funds, people familiar with the matter said on Friday.
Washington Mutual Inc on Friday asked a U.S. bankruptcy court to let it probe whether JPMorgan Chase & Co had unlawfully damaged its former thrift unit's assets in order to buy it on the cheap, at $1.9 billion, last September.
Shares of BlackBerry maker Research In Motion rose 4 percent on Friday after analysts at UBS Investment Research upgraded the stock and said the company stands to gain from the corporate side of its business once the economy rebounds.
Wall Street was poised for a flat open on Friday as a reassessment of the recent sharp market run-up could keep gains in check despite hopes the economic slowdown is moderating.
Sumitomo Mitsui Financial Group will buy Citigroup's Japanese broker and key investment banking units for $5.9 billion and look to form a financial services powerhouse through an alliance with Daiwa Securities Group.
