Financial24 (Free subscription) | 07/02/2009
CHARLOTTE, N.C., July 2 /PRNewswire/ Bank of America Corporation today said the Board of Directors has authorized approximately $713 million in dividend payments to the U.S government under the Troubled Asset Relief Program . Dividends related to ...
Market Watch (Free subscription) | 07/02/2009
SAN FRANCISCO (MarketWatch) -- Bank of America Corp. said Thursday its board approved about $713 million in dividend payments to the government under the Troubled Asset Relief Program. The dividend payment is related to $15 billion in government funds that Bank of America received from the Capital Purchase Program, which is part of TARP. Market Pulse Stories are Rapid-fire, short news bursts on stocks...
SeekingAlpha.com (Free subscription) | 07/02/2009
David Hunkar submits: The following are the 25 most profitable banks in the world based on their 2008 earnings as per The Banker magazine: Rank Bank Country Ticker 1 ICBC China 2 China Construction Bank Corp China 3 Santander Central Hispano Spain STD 4 Bank of China China 5 BBVA Spain BBV 6 HSBC Holdings UK HBC 7 Barclays Bank UK BCS 8 Agricultural Bank of China China 9 UniCredit Italy 10 Royal Bank...
Market Watch (Free subscription) | 07/02/2009
LOS ANGELES (MarketWatch) -- Bank of America Corp. said Wednesday it would accept warrants issued by the California government on a limited basis through July 10, which the state is using as a budget crisis freezes its spending. "Bank of America recognizes the State of California budget crisis will impact our clients and customers," it said. "To support our customers, while giving the...
Market Watch (Free subscription) | 07/01/2009
BOSTON (MarketWatch) -- Bids for Bank of America Corp.'s asset-management unit, Columbia Management, have come in lower than the company had hoped, the Financial Times reported Wednesday. One reason for the tepid offers is that BlackRock Inc. , once the most probable suitor, has reached a deal to buy Barclays Global Investors, the newspaper reported. B. of A. was aiming to sell Columbia for at least...
Financial24 (Free subscription) | 07/01/2009
Stocks on the move Real-time Equity news For U.S stock market report double-click 0708 ET 01July2009-BofA unit drawing lackluster bids: FT Bank of America Corp's primary investment management unit is drawing lower than expected bids afte ...
SeekingAlpha.com (Free subscription) | 06/28/2009
David Hunkar submits: The Banker magazine has released the Top 1000 world banks for 2009 based on their Tier 1 capital. The following are the Top 25 from the rankings: Rank Bank Country Ticker 1 JP Morgan Chase & Co US JPM 2 Bank of America Corp US BAC 3 Citigroup US C 4 Royal Bank of Scotland UK RBS 5 HSBC Holdings UK HBC 6 Wells Fargo & Co US WFC 7 Mitsubishi UFJ Financial Group Japan MTU...
Market Watch (Free subscription) | 06/25/2009
SAN FRANCISCO (MarketWatch) -- Bank of America Corp. said late Thursday that it completed offers to exchange preferred stock for new common stock, helping the lender exceed a government-imposed target of raising at least $33.9 billion in new equity capital. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this...
Market Watch (Free subscription) | 06/25/2009
SAN FRANCISCO (MarketWatch) -- Bank of America Corp. may report a second-quarter loss as the bank continues to digest its Merrill Lynch acquisition and bolster reserves amid rising consumer loan losses, Citigroup analyst Keith Horowitz wrote in a note to investors Thursday. The analyst expects Bank of America to report a quarterly loss of 11 cents a share. That compares to the average analyst estimate...
Market Watch (Free subscription) | 06/25/2009
NEW YORK (MarketWatch) -- U.S. financial stocks were down slightly Thursday in morning trade after the U.S. Labor Department reported jobless claims unexpectedly rose for a second consecutive week, which dampened investor expectations after first-quarter U.S. economic output figures were revised upward. The benchmark financial sector exchange-traded fund, Financial Select Sector SPDR Fund , was down...
Financial24 (Free subscription) | 06/25/2009
U.S. stock-index futures retreated after initial jobless claims unexpectedly increased, reviving concern that rising unemployment will prolong the recession. Bank of America Corp. and ConocoPhillips declined more than 1 percent after first-time clai ...
Market Watch (Free subscription) | 06/25/2009
BOSTON (MarketWatch) -- Bank of America Corp. on Thursday said as a result of debt exchanges and other actions, it will exceed the $33.9 billion capital buffer set by the Federal Reserve as a result of the government's so-called stress tests on the nation's largest banks. B. of A. also announced the preliminary results of its offers to exchange up to 200 million shares of common stock for outstanding...
Bank Tech (Free subscription) | 06/25/2009
The Federal Reserve sought to hide its involvement in Bank of America Corp's acquisition of Merrill Lynch as Merrill's financial condition worsened, the top Republican on the House Oversight and Government Reform Committee said on Wednesday.
Market Watch (Free subscription) | 06/24/2009
NEW YORK (MarketWatch) -- U.S. financial stocks opened higher as markets awaited data on new-home sales and a statement from the Fed that could shed light on the economy and monetary policy. The benchmark financial sector exchange-traded fund, Financial Select Sector SPDR Fund , was up 1.1% to $11.63. Shares of Citigroup Inc. and Bank of America Corp. were exchanged in heavy volume in morning trade,...
Market Watch (Free subscription) | 06/24/2009
BOSTON (MarketWatch) -- The Banker magazine in its annual rankings released Wednesday said J.P. Morgan Chase & Co. was the world's strongest bank based on Tier 1 capital, according to reports. Bank of America Corp. was second on the list. Meanwhile, among U.S. banks, Citigroup Inc. suffered the worst 2008 with a loss of $53 billion, followed by Wells Fargo & Co.'s $47.8 billion loss, according...
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