Bank of America Corp plans to spin off its last large private equity fund, with more than $5 billion in assets, and has no plans to make new private equity investments, a company spokesman said on Tuesday.
The high-profile insider trading trial of hedge fund manager Raj Rajaratnam enters its closing phase on Wednesday and will turn on whether prosecutors or defense lawyers can summarize their case in a way that most resonates with jurors.
President Barack Obama may face a tough audience when he brings his tax-hike-for- billionaires message to Facebook on Wednesday -- Silicon Valley is full of the sort of people the president wants to pay more taxes.
Japan's exports fell in March at a faster pace than economists expected, in a sign that shipments will continue to weaken and hurt economic growth after last month's earthquake and tsunami sparked a nuclear crisis and disrupted supply chains for many manufacturers.
Intel Corp forecast revenues well above Wall Street's targets, sending its shares higher in after hours trade.
Japan's top three banks are planning to book a combined loss of 160 billion yen ($1.9 billion) on their stakes in Tokyo Electric Power <9501.T>, whose shares have tumbled sharply due to the crisis at its crippled nuclear plant, sources said on Wednesday.
Japan's exports fell in March from a year earlier at a faster pace than economists expected, in a sign that shipments will continue to weaken and hurt economic growth after last month's earthquake and tsunami sparked a nuclear crisis and disrupted supply chains for many manufacturers.
Yahoo Inc posted quarterly earnings that topped Wall Street targets, and its shares rose more than 3 percent as Chief Executive Carol Bartz said the number of users and time spent at Yahoo sites rose from a year ago.
Fiat SpA's plans to get majority ownership of U.S. No.3 car maker Chrysler are likely to continue to attract investors' attention when the Italian carmaker reports first quarter results on Wednesday.
Yahoo Inc posted quarterly revenue slightly ahead of Wall Street targets and shares rose 3 percent.
Goldman Sachs's commodities risk rose for the first time in a year during the first quarter as it staked 60 percent more money than the previous quarter to trade in rallying raw materials market.
Goldman Sachs Group Inc's profits fell 72 percent and one of the few businesses that performed well for the bank -- investments and trading with its own funds -- faces regulatory restrictions in the future.
A federal judge dismissed a lawsuit by two of Bernard Madoff's former customers accusing the U.S. Securities and Exchange Commission of negligence for failing to uncover the now-imprisoned swindler's Ponzi scheme.
Encouraging results from health care and materials companies lifted U.S. stocks on Tuesday, but weak earnings from Goldman Sachs limited gains in a market skeptical of the growth outlook.
The CURRENT SURGE in silver prices worldwide might seem dramatic, but it's more measured - so far, at least - than the true silver bubble that went Bang! in Jan. 1980. Even so, you might as well call this a record price.
U.S. Treasury Secretary Timothy Geithner, going on the offensive one day after Standard & Poor's threatened to lower its top-tier rating on U.S. government debt, said on Tuesday there was no risk of a downgrade.
Warren Buffett and the rest of Berkshire Hathaway Inc's board of directors were sued by a shareholder on Tuesday over presumed heir apparent David Sokol's trading in the stock of a company that was later bought by Berkshire.
Lenders would be required to make sure prospective borrowers have the ability to repay their mortgages before giving them a loan, under a proposal released by the Federal Reserve on Tuesday.
Goldman Sachs Group Inc posted a 72 percent decline in quarterly earnings as trading revenue dropped, and the bank cautioned that its businesses face headwinds.
Brent crude oil futures fell below $120 on Tuesday for the first time in two weeks, pressured by concern over the economic outlook and the risk that high prices could erode demand.
Clearwire Corp and its majority owner Sprint Nextel Corp reached a new wholesale pricing deal that has Sprint paying at least $1 billion to Clearwire between this year and the end of next year.
General Electric Co imposed new conditions on a large options award the board granted to Chief Executive Jeff Immelt after shareholders expressed concerns that the terms needed to be more stringent.
Warren Buffett, former top lieutenant David Sokol, and the rest of Berkshire Hathaway Inc's board of directors were sued on Tuesday by a shareholder over a trading scandal that cost Sokol his job.
The Obama administration fired a fresh salvo at Wall Street on Tuesday, telling critics of the U.S. financial reform law to knock off their attacks.
Nasdaq OMX Group and Intercontinental Exchange Inc promised to pay a $350 million fee to NYSE Euronext if regulators knock down their takeover offer, in a bid to get NYSE to start deal talks.
Goldman Sachs Group Inc posted a 72 percent drop in first-quarter profit to shareholders as it made less money from trading bonds for clients. The largest U.S. investment bank posted a profit to common shareholders of $908 million, or $1.56 per share, compared with $3.3 billion, or $5.59 per share, in the same quarter a year ago.
U.S. stocks were little changed on Tuesday as sliding revenue in financial companies pointed to a struggling economy.
U.S. home building and permits for future construction rebounded strongly last month from February's weather-depressed levels, but a glut of housing on the market will make further gains difficult.
U.S. stock index futures edged higher on Tuesday as investors searched the latest raft of corporate profits for a reason to rebound from Monday's selloff.
Thomson Reuters Corp named Pulitzer-prize winning journalist and former Dow Jones Newswires President Paul Ingrassia to the new position of deputy editor-in-chief, one of four new hires brought in to overhaul its news operations.
