Fund managers haven't changed their investment strategies for the tech sector, in spite of the recent heavy selling.» Read More
April 9- Bank of America Corp said on Wednesday that it will close three foreign offices and eliminate about 3,000 jobs over the next nine to 12 months in an effort to simplify its global operations.
Bank of America Corp. rose$. 18 or 1.1 percent, to $16.62. Citigroup Inc. rose$. 56 or 1.2 percent, to $47.16. Goldman Sachs rose $1.60 or 1.0 percent, to $158.16.
The "Fast Money" traders share their final trades of the day.
NEW YORK— Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:. Alcoa Inc., up 47 cents to $13. Morgan Stanley downgraded the Detroit automaker and the sector comes under pressure after another recall, this time from Toyota.
WASHINGTON, April 9- Detroit on Wednesday struck a deal with a core group of creditors that could ease concerns about the treatment of certain bonds in its landmark bankruptcy case and pave the way for compromises with other creditors.
The bank agreed to pay nearly $800 million in fines and restitution to settle allegations of deceptive marketing and unfair billing involving credit card products.
WASHINGTON, April 9- Bank of America agreed to pay nearly $800 million in fines and restitution to settle allegations of deceptive marketing and unfair billing involving credit card products, U.S. regulators said on Wednesday. Bank of America neither admitted nor denied wrongdoing, the bureau said.
NEW YORK— A look at New York Stock Exchange 10 most-active stocks at the close of trading:. AT&T Inc. fell 1.0 percent to $34.92 with 29,859,800 shares traded. Alcoa Inc. rose 3.8 percent to $13.00 with 47,961,300 shares traded.
Bank of America Corp. fell$. 02 or. 1 percent, to $16.42. Citigroup Inc. rose$. 01 or percent, to $46.61. JPMorgan Chase fell$. 02 or percent, to $58.83.
WASHINGTON— Bank of America Corp. is paying $772 million in fines and refunds to settle regulators' accusations that it misled customers who bought extra credit-card products and illegally charged others for credit monitoring and reporting services they didn't receive.
WASHINGTON, April 9- The city of Detroit on Wednesday struck a deal with bond insurers over a key class of debt in its landmark bankruptcy case that significantly reduces bondholder losses and could pave the way for agreements with other creditors.
NEW YORK— Bank of America says it's cutting about 3,000 jobs overseas as part of ongoing reviews of its global operations. The jobs are located in Costa Rica, the Philippines and Mexico.
NEW YORK, April 8- Allstate Corp and Bank of America Corp's Countrywide unit have agreed to dismiss a lawsuit stemming from $700 million of toxic mortgage debt, according to a court filing on Tuesday.
SAN JOSE, Costa Rica— Chipmaker Intel announced Tuesday that it is eliminating 1,500 jobs from its assembly and test operation in Costa Rica, a blow to a country that has used Intel's presence to build a high-tech sector.
The eight biggest U.S. banks must boost capital levels by a total of about $68 billion under new rules, U.S. regulators said on Tuesday.
WASHINGTON, April 8- The eight biggest U.S. banks must boost capital levels by a total of about $68 billion under new rules, U.S. regulators said on Tuesday, prompting industry complaints that less-stringent global standards will give overseas competitors an advantage.
*Amazon.com, Yahoo shares jump; investors buy Internet' bargains'. *Alcoa starts earnings season; shares up after results. The day's biggest gainers included Amazon.com Inc, up 2.9 percent at $327.07; Yahoo Inc, up 2.3 percent at $33.83; and LinkedIn Corp, up 5.9 percent at $169.10.
WASHINGTON, April 8- The eight biggest U.S. banks must raise a total of about $68 billion in capital by 2018 to comply with a new rule designed to prevent another financial crisis, prompting industry complaints that international standards are less restrictive and give their global competitors an advantage.
Bridgewater has posted modest, positive returns this year as other hedge funds that bet on macroeconomic trends have faltered.
The Federal Reserve, the Federal Deposit Insurance Corp. and the Treasury's Office of the Comptroller of the Currency voted separately to require those banks to raise their minimum ratio of capital to loans to 5 percent from the current 3 percent.