The Fed said 15 of the 19 major banks tested passed. The Fed noted that all 19 banks are in a much stronger position than immediately after the 2008 financial crisis. Still, SunTrust, Ally Financial and MetLife joined Citi in failing to meet the test’s minimum capital requirements. The Fed ...
U.S. stocks advanced on Thursday, reversing declines from the previous session, after some positive data on the labor market and solid monthly sales from retailers encouraged buying. But gains were muted as this year’s rally, which has pushed major indexes to multi-year highs, has left some investors leery of a ...
U.S. stocks rose on Monday, led by bank shares after Greece’s parliament approved reforms needed to qualify for a cash disbursement and avoid an unruly default. Greek lawmakers backed drastic cuts in wages, pensions and jobs on Sunday as the price of a 130 billion euro ($170 billion) bailout by ...
O.J. Simpson’s Kendall, Fla. home. NEW YORK (CNNMoney) — PETA wants O.J. Simpson’s house. To set up a “Meat Is Murder” museum, of course. In a letter addressed to Jaime Dimon, JPMorgan Chase’s CEO, People for the Ethical Treatment of Animals asked if the bank would either donate or sell ...
By Samantha Bomkamp, Associated Press Stocks held on to small gains Thursday after applications for unemployment benefits fell and several companies reported earnings that were better than Wall Street was expecting, including Bank of America and Morgan Stanley. The Dow Jones industrial average rose 45.03, or 0.36 percent, to 12,623.98. ...
Stocks closed Thursday mixed after falling sharply at the open. Investors weighed renewed concern about Europe against the latest encouraging report about the U.S. job market. The Dow Jones industrial average lost as much as 134 points but at the close was down only about 3 points to 12,415.70. The ...
By msnbc.com staff and wire services Despite being lower most of Wednesday, stocks closed mixed with the S&P 500 and Dow Jones industrial average posting small gains after a tepid late-session rally. According to preliminary calculations, the Dow finished 4.16 higher, or 0.03 percent, to 12,107.74. The result followed a ...
Wall Street fell Thursday, dragged down by financial stocks, after the European Central Bank tempered hopes that policymakers were readying a financial “bazooka” to contain the debt crisis. In another development weighing on the market, European banks were told to increase their capital by 114.7 billion euros. ECB President Mario ...
NEW YORK — Jamie Dimon, the CEO of JPMorgan Chase & Co., is railing against bashing the rich. Dimon was responding Wednesday to a question at an investor conference about the hostile political environment towards banks. “Acting like everyone who’s been successful is bad and that everyone who is rich ...
Customer outrage forces big banks to back off from monthly debit card fees but there are plenty of others to keep an eye on. (MONEY Magazine) — Following weeks of outrage over plans for a $5-a-month debit card usage fee, Bank of America surrendered in November, joining Chase, Wells Fargo, ...
Thousands of Americans have been ditching large banks like Bank of America in favor of credit unions and other smaller institutions. NEW YORK (CNNMoney) — So you’ve had it with the hidden fees, the monthly minimums and the sky-high interest rates. Like thousands of other Americans in the past few ...
SHANGHAI — China reshuffled the leadership of three of its financial regulatory agencies on Saturday, one of the first steps in what is expected to be a major leadership change at the top of the Communist Party next year. With a new generation of leaders set to take control of ...
Click chart for more on Bank of America. NEW YORK (CNNMoney) — Bank of America reported a 6% jump in third-quarter earnings, reversing a year-earlier loss. The Charlotte, N.C., bank posted net income of $6.2 billion, or 56 cents a share, compared with a net loss of $7.3 billion, or ...
Click chart for more on JPMorgan. NEW YORK (CNNMoney) — JPMorgan said it remains cautious amid a “challenging economic environment” as it reported solid profit and sales figures. The bank made $4.3 billion, or $1.02 a share, in the third quarter. That compares to $4.4 billion, or $1.01 a share, ...
It’s a brand new quarter, but it’s the same old story on Wall Street. Stocks closed the first trading day of the fourth quarter down across the board on Monday, as Greek debt worries outweighed a relatively upbeat report on U.S. manufacturing. According to preliminary calculations the Dow fell258.53 points, ...
NEW YORK (CNNMoney) — In the immediate aftermath of Bank of America’s new debit card fee announcement, many of the bank’s customers have declared this is the last straw. But while angry consumers are threatening to leave, it’s the bank that could have the last laugh. Across social media sites ...
WASHINGTON: The ongoing economic recovery in the emerging Europe and Central Asian region is advancing at a slow pace and is at risk from the euro zone debt crisis, the World Bank said. “Most countries in emerging Europe and Central Asia have recovered from the global economic crisis, but growth ...
