Banks, Bank Of America | featured news

The bank reported that its first-quarter net income more than tripled, to $4.2 billion, largely beating analyst expectations.

Two influential investor advisory groups sharply rebuked Bank of America Corp Chief Executive Kenneth Lewis over his handling of the buyout of ailing Merrill Lynch & Co, recommending he be thrown off the bank's board at its upcoming annual meeting.

Bank of America Corp and Citigroup Inc shares have roughly tripled from multi-decade lows set less than a month ago, and powered higher on Wednesday on speculation their recent punishing declines might have been too severe.

Bank of America CEO Ken Lewis is about to come under serious scrutiny by Congress.

The New York Attorney General's office has subpoenaed Bank of America to submit a list of employees who got bonuses and the amounts that the employees received, a spokesman for the New York Attorney General said on Thursday.

New York's attorney general is moving to force former Merrill CEO John Thain to discuss details about bonuses paid to employees before the company was sold to Bank of America.

Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.

Bank of America has created an account on Twitter, the popular microblogging site, to interact with customers.

John A. Thain, the former chief executive of Merrill Lynch, resigned after Bank of America suffered unexpected losses stemming from its acquisition of the giant brokerage.

HONG KONG — Asian stocks rebounded today from the previous day's rout, with Tokyo's index gaining nearly 3 percent, as the U.S. bailed out Bank of America again and a weaker yen lifted exporters like Toyota Motor Corp.