WASHINGTON — The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency’s solvency as first-class letters plummet and Congress deadlocks on ways to stem ...Read More »
WASHINGTON — U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years and the number of troubled banks fell for the fourth straight quarter. The mostly positive first-quarter earnings released ...
Tagged with: bank bank of america corp Banks Citigroup Inc. earnings Economy FDIC Federal Deposit Insurance Corp. housing market industry interest rates JPMorgan Chase & Co. revenue rose united states wells fargo & coRead More »
NEW YORK — In an effort to strengthen its balance sheet, Bank of America in the first two weeks of December sold 400 million common shares and issued $2.3 billion in debt to replace $5.8 billion of preferred stock. The ...Read More »
NEW YORK — Bank of America Corp. is selling half of its stake in China Construction Bank Corp. to raise cash and shore up its capital base. The nation’s largest bank by assets said Monday it will sell 13.1 billion ...Read More »
NEW YORK — Stocks are sharply higher in midday trading for the second day in a row. Exxon Mobil Corp. rose the most of the 30 stocks in the Dow Jones industrial average on Tuesday, gaining 2.8 percent. Chevron Corp. ...Read More »
NEW YORK — More trouble piled up for Bank of America Corp. on Monday, as American International Group Inc. sued it for more than $10 billion, saying the bank cheated it by selling residential mortgage-backed securities that were overvalued. The ...Read More »
NEW YORK — Bank of America Corp.’s first-quarter income fell 39 percent on higher costs related to its mortgage business and higher litigation expenses. The bank also settled a claim over faulty mortgage investments and set aside less money to ...Read More »