Bank of America Corp and other U.S. banks may introduce new fees on basic services and eliminate free checking to replace revenue lost to new banking regulations, the Wall Street Journal said.
The board of Calpers, the biggest U.S. public pension fund, voted on Wednesday to ask California's government for an additional $600 million in funding to bolster its finances.
After suffering sustained criticism of its role in the financial crisis, the Federal Reserve looked set on Wednesday to emerge from an overhaul of financial regulations with its jealously guarded independence intact.
Top executives of United Airlines and Continental Airlines sparred with irritated lawmakers on Wednesday over their merger plan, drawing a threat for closer industry regulation if the deal is approved.
A joint conference committee is merging Wall Street reform bills from the Senate and the House of Representatives to reach a final version of historic financial regulation legislation.
Market regulators have closed an investigation of American International Group and some of its executives over losses at the bailed-out insurance giant, two sources with knowledge of the matter said on Wednesday.
Sprint Nextel Corp hopes win new customers using devices other than cellphones with new wirelessly-connected gadgets coming on the market starting later this year, an executive for the company said on Wednesday.
After suffering sustained criticism of its role in the financial crisis, the Federal Reserve emerged on Wednesday from an overhaul of financial regulations with its jealously guarded independence intact.
The Australian dollar appears to be finding some support around the USD0.8600 level as investor concerns over the European debt crisis ease a little.
The Australian Dollar spent the majority of local trade yesterday above the 0.8600 cents mark as risk appetite returned to the market with high yielders the main benefactor.
Oil giant BP said it would cut four quarters of dividends, significantly reduce its investment program and sell $10 billion of assets to fund a planned $20 billion fund to pay for its Gulf of Mexico oil spill.
Stocks finished flat on Wednesday as cautious comments from FedEx and weak housing market data overshadowed a surge in industrial production.
Housing starts hit a five-month low in May as a homebuyer tax credit expired while wholesale prices remained subdued, giving the Federal Reserve ample room to maintain its ultra-low interest rate policy.
Companies are getting an excessive $52 billion tax break on stock options issued to their executives, new data from a U.S. Senate panel showed on Wednesday.
FedEx Corp said on Wednesday that healthcare and pension costs will pinch profits in 2011, sending its shares down despite quarterly results that beat analysts' expectations.
After heavy criticism of its handling of the financial crisis, the Federal Reserve on Wednesday appeared likely to escape the most aggressive congressional scrutiny of its interest rate deliberations.
The U.S. Securities and Exchange Commission said on Wednesday it will propose increased disclosure in the marketing of the increasingly popular target date mutual funds.
(Corrects spelling of Bloomberg in 15th paragraph)
U.S. stocks slipped on Wednesday as a warning from FedEx , which said higher costs would crimp profits next year, overshadowed a surge in industrial production.
The U.S. economy is slowly healing and will avoid a relapse into recession, the American Bankers Association's economic advisory committee said on Wednesday.
A résumé without the targeted law enforcement content presented to a police department would not contain the appropriate content to get noticed.
A New Jersey woman was arrested on Wednesday and charged with running a $45 million Ponzi scheme in which she allegedly promised investors high returns from real estate, but instead used their money to repay other investors and gamble at casinos.
Housing starts hit a five-month low in May as a homebuyer tax credit expired, while wholesale prices remained subdued, giving the Federal Reserve ample room to maintain its ultra-low interest rate policy.
The Dow and S&P 500 dipped on Wednesday after concerns about FedEx's warning on higher costs, while optimism stirred by Apple Inc's stronger-than-expected iPhone sales helped the Nasdaq.
More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.
After suffering more than a year of abuse over its role in the financial crisis, the U.S. Federal Reserve on Wednesday was poised to beat back the most aggressive attempt to open its operations to congressional scrutiny.
The euro was little changed against the dollar on Wednesday, as a recovery in U.S. stocks lifted risk appetite and offset fresh concerns about Spain's credit and banking system.
Bank of Canada Governor Mark Carney cautioned investors on Wednesday not to take another interest rate hike for granted, saying volatile global conditions meant no particular path for monetary policy was preordained.
The former head of the now bankrupt mortgage lender Taylor, Bean & Whitaker Mortgage Corp has been charged with fraud in a scheme that led to the misappropriation of more than $1 billion, according to an indictment unsealed on Wednesday.
