Bank Of America
latest news & developments
Will ChatGPT power or inflict pain on the economy?
There are positives and negatives to the AI revolution, but African states first need reliable power and connectivity to reap the benefits
Judge rejects Citigroup’s settlement
Citigroup faces a day of reckoning in court over its selling of financial instruments in the run-up to the subprime mortgage crisis.
Dirty energy financiers shamed
Where is all the money coming from to build dirty coal-powered energy plants?
Stocks rally as Germany upholds Europe’s bailout plan
US stocks rallied for the first time in three days after a German court backed the country’s role in bailing out other European countries.
Buffett invests $5-billion in Bank of America
Warren Buffett has thrown a lifeline to the Bank of America, nnouncing he would invest $5-billion in the beleaguered United States banking giant.
Bank of America stops handling WikiLeaks payments
Bank of America said it will no longer process transactions for the website WikiLeaks.
Merrill Lynch suspends trader over $400-million loss
Merrill Lynch has discovered an ”irregularity” in its London trading positions amid reports that a trader had been suspended over a -million loss.
Bank of America gets big govt bailout
Bank of America was rescued by the US government on Friday through a -billion bailout.
Bank crisis returns to markets
Citigroup and Bank of America faced new doubts over their ability to fund their massive losses as their shares sank on Wednesday.
Bush may tap bailout fund to aid carmakers
The Bush administration said on Friday it could be willing to provide emergency aid to the teetering US car industry
US stocks plummet amid credit crisis
United States stocks were in a dramatic sell-off on Monday morning amid a widening credit crisis.
US court allows apartheid lawsuit to proceed
The United States Supreme Court said on Monday that it cannot intervene in an important dispute over the rights of apartheid victims to sue US corporations in US courts because…
Bank of America profits fall 77%
The credit crunch sent Bank of America’s quarterly profits plunging 77% after weak trading on Wall Street and in retail banking, it was announced on Monday. Bank of America,…
Credit-crunch woes claim fifth-biggest US bank
The global credit crunch claimed its biggest victim yet on Friday when the United States Federal Reserve orchestrated an emergency bail-out for Bear Stearns after a cash crisis…
Carlyle Capital in default, on brink of collapse
An affiliate of United States-based buyout firm Carlyle Group has defaulted on about ,6-billion of debt and expects its lenders to seize remaining assets as the global credit…