BANK OF AMERICA

Wall Street Plummets Below Key Support Level

Traders on the floor of the New York Stock Exchange
Wall Street felt tremors Tuesday afternoon as the S&P 500 Index, Nasdaq Composite Index and Dow Jones Industrial Average both dropped precipitously following declines in European equity markets.
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Federal Judge Approves $25B Mortgage Pact

A federal judge approved a $25 billion mortgage settlement with five top U.S. banks over allegations of foreclosure abuses and misconduct in servicing home loans, according to court documents.
General Electric

GE, Best Buy Suffer Credit Rating Setbacks

Two of the most iconic American brands suffered setbacks to their credit ratings on Wednesday, evidence that some of the nation's most visible economic engines could face higher borrowing costs.
China

China’s Premier: Bank Monopoly Must Be Broken

China’s Premier Wen Jiabao called the country’s state-owned banks a “monopoly” that has to be broken to allow freer flow of capital to loan-hungry smaller businesses, as the world’s second largest economy appears to have skidded to its slowest growth in three years.
Students walk past graffiti painted on the wall of a building in central Athens March 15, 2012.

What Happened To Greek Credit Default Swaps?

Since Greece technically defaulted over two weeks ago, yields on its bonds have risen sharply while insurance for Greek bonds has virtually disappeared, reflecting a lack of bond buyers and reluctance by loss-wary banks to write new protection.
Would You Trust an Apple ‘iBank’ With All Your Money?

Apple iBank: What Are Odds Of Having One, And Will You Bank With It?

From an Apple fan's point of view, one could trust the Cupertino tech giant in terms of the wide range of products it offers to the customers. Parting with hundreds of dollars each year for laying hands on Apple gadgets does tell that story. But would you ever trust Apple with all your money? Would you trust Apple with your savings and consider banking with an iBank?
Ben Bernanke

This Week’s Economic Events: Bevy Of Fed Speakers

This week - March 26 to 30 - will highlight Wednesday's durable goods report and a busy policy calendar, including the core of the Federal Open Market Committee: Chairman Ben Bernanke and New York Fed President William Dudley. Wall Street will be closely monitoring the Fed officials' speeches, hoping to find clues of their latest views on the economic, inflation and policy outlooks.
World Bank President Zoellick speaks at a news conference

World Bank President? Third World Candidates Emerge

President Barack Obama must nominate a new President of the World Bank soon, ahead of its June annual meeting in Washington. Two Third World candidates have been mentioned but another American is the likely winner.
File photo of Mark Zuckerberg

Facebook To Pay Banks 1.1% Fee For Managing IPO

Senior Facebook executives met Monday with analysts and bankers, but CEO Mark Zuckerberg didn't attend. The company's chief financial officer told attendees that Zuckerberg prefers to focus on developing Facebook's social-networking service.
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Facebook underwriters to get 1.1 pct fee -source

Facebook will pay just a 1.1 percent fee to underwriters of its initial public offering, according to a source with knowledge of the company's plans, doling out a much slimmer than typical payout.

Why Wall Street Wants To Be Your Landlord

At the height of the boom, commercial banks and investors gorged themselves on real estate, building unsustainable towers of debt that finally collapsed in 2008. But with the housing market improving, they may soon return for second helpings.

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