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Merrill Lynch & Co has reported an “irregularity” in its trading operations just hours after a news report said British investigators were probing losses incurred by a currency trader in the firm's London operations.

Merrill Lynch discovered a trading irregularity during a recent investigation of the troubled investment bank's London trading positions, the company said on Friday.

General Electric Co shares rose 5 percent on Friday after analysts at Merrill Lynch and BernsteinResearch said they did not see the U.S. conglomerate sharply marking down assets in its hefty finance arm in the near future.

Japan's broad TOPIX stock index slid to a 25-year low on Friday after a warning from General Motors about possible bankruptcy slammed Wall Street, but hopes for more stimulus spending in China limited losses in most Asian markets.

Asia stocks slid on Friday after a warning from General Motors' that it may need to file for bankruptcy drove Wall Street shares to 12-year lows and highlighted the severe troubles of major U.S. companies and banks.

Bank of America Corp said it could suffer grave harm if it is forced to reveal data about an estimated $3.6 billion of bonuses paid to Merrill Lynch & Co officials in the days before the bank acquired the brokerage.

A group that works with union-affiliated pension funds called for the ouster of Bank of America Corp Chairman and CEO Kenneth Lewis, citing the bank's falling stock price and damage from its acquisition of Merrill Lynch & Co.

New York state's top legal officer issued subpoenas on Wednesday to seven executives who received tens of millions of dollars in 2008 pay from Merrill Lynch & Co before it was taken over by Bank of America , a person familiar with the investigation said.

The top 10 highest-paid employees received $209 million in cash and stock, slightly higher than the $201 million the top 10 received in 2008, the Wall Street Journal reported on Monday.

The Bank of America's chief, Ken Lewis, has for the first time today, admitted he made a 'tactical' mistake in acquiring Merrill Lynch.

Merrill Lynch & Co's 10 highest-paid employees got a total of $209 million in cash and stock in 2008, up slightly from $201 million they received a year earlier, the Wall Street Journal said, citing reviewed figures.

New York's top legal officer on Thursday demanded Bank of America Corp Chief Executive Kenneth Lewis provide names of Merrill Lynch executives who received 2008 bonuses, and how much they got, before the bank's takeover of the firm in January.

The U.S. government may agree to finance some buyers of American International Group Inc businesses, take stakes in assets and ease terms of its aid to the insurer, a person familiar with the matter said on Thursday.

Bank of America is looking to sell a private bank it inherited from Merrill Lynch & Co, a banker familiar with the situation said on Wednesday.

Bank of America is looking to sell a private bank it inherited from Merrill Lynch & Co. as the bank tries to preserve capital and possibly shed noncore assets, said a report on the Wall Street Journal's Web site, citing people familiar with the situation.

Wall Street's fat cats are in the public's doghouse, and it could be a long time -- if ever -- before the eye-popping paychecks and glamour of the last two decades return.

American International Group, rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be the biggest loss in a quarter in corporate history.

A judge on Monday ruled that former Merrill Lynch & Co Chief Executive John Thain is free to disclose the names of individuals who received bonuses awarded by the former investment bank before it was bought by Bank of America Corp.

New York state's top legal officer filed a court motion on Monday to compel former Merrill Lynch CEO John Thain to discuss $4 billion in employee bonuses, ratcheting up its probe into a hot-button issue in the recession.

New York state's top legal officer filed a court motion on Monday to compel former Merrill Lynch CEO John Thain to discuss $4 billion in employee bonuses, ratcheting up its probe into a hot-button issue in the recession. New York Attorney General Andrew Cuomo alleged that Thain, who was ousted from Bank of America Corp in January just three weeks after the companies merged, said Bank of America ...

Investors queuing to pour cash into discounted corporate debt are in for a risky ride as hedge funds continue to dump assets on the market and default rates have yet to peak.

Bank of America Corp Chief Executive Kenneth Lewis told investors in September he was pleased to acquire Merrill Lynch & Co's world-class investment bank -- but as losses there mount, he may just let that key part of its business wither.

and it's getting worse, said Nouriel Roubini, a prominent New York University economist who forecast much of the credit and housing recession. The cost of insuring $10 million of Citigroup debt for five years rose to $475,000 annually from $405,000 on Thursday, according to data from Phoenix Partners Group. The cost of insuring Bank of America debt rose to $275,000 a year from $245,000. S...

U.S. stocks headed for a drop at Friday's opening that would extend a rout which has pulled the Dow Jones industrials to a fresh bear-market low, as worries about the fate of major banks escalated. Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of U.S. government bonds as stoc...

U.S. stock index futures fell on Friday, putting Wall Street on track to extend a rout that has pulled the Dow Jones industrials to a fresh bear-market low as worries about the fate of major banks mount. Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of government bonds, with s...

Bank of America Corp Chairman and Chief Executive Kenneth Lewis was subpoenaed last week by New York Attorney General Andrew Cuomo, who is investigating whether the bank violated state law by withholding information from investors, the Wall Street Journal said late Thursday, citing people familiar with the matter.

Citigroup Inc shares fell to almost 18-year lows on Thursday, with Bank of America Corp stock also plunging, amid renewed fears that growing losses could lead to government control of troubled U.S. banks, wiping out shareholders.

as well as identify some American clients who held undeclared bank accounts to avert criminal charges. The settlement, which Swiss authorities say they agreed to broker to avoid putting the bank's existence at risk, could also have wide implications for the $7 trillion-offshore banking industry by making it harder to try to circumvent tax laws. The settlement in the U.S. tax case is what we ...

Bank of America announced it made a $402 million payment to the federal government to pay back the U.S. government's investment as part of the $45 billion in bailout funds it received last year and early this year.