Topic: Bank of America Corporation
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10 richest members of Congress
The 10 wealthiest members of Congress in 2012 include Senate and House members hailing from all over the US. Can you guess which political party had the most lawmakers on the list – and who grabbed the top spot?
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Five ways big banks' Libor scandal affects you
London, this year's host of the Olympics, is also home to a bank scandal that threatens to rock the financial world as much as the Games influence the world of sports. Here's why: Libor (London Interbank Offered Rate) is a global benchmark for interest rates that reaches deep into the international financial system. Allegations that banks rigged those rates means that everyone from mortgage-holders and indebted students to cities and mutual funds may have had their interest rates unnaturally altered. Already tainted by other scandals, banks are under investigation because of charges that they profited illegally from their rate-rigging scheme. The mess further taints big banks and puts more strain on the credibility of the global financial system. Here are five ways the Libor scandal could affect you:
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Companies we love in 8 industries we hate
A trip to the bank doesn't have to be a nightmare. Here are the customer service winners in eight industries that customers hate, from airlines to cable companies.
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One World Trade Center and the four other tallest buildings in America
The new One World Trade Center tower is taking over as New York City’s tallest from the Empire State Building. But it’s not the country’s tallest. Here are the five tallest buildings in the country.
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10 best cities to buy short sale homes
Foreclosures are tough: Homeowners lose their houses and ruin their credit, while banks get stuck with vacant, deteriorating real estate for months before selling it at a considerable loss. Increasingly, banks are finding another way: the short sale. Instead of waiting to foreclose, a bank preemptively sells a home at a deep discount and closes out the underwater mortgage, even if the house sells for less than the value of the mortgage. The result: Homeowners shed their mortgage debt, and banks unload properties more quickly and inexpensively. Here are the Top 10 metropolitan areas with the biggest average discounts on these pre-foreclosure homes, according to online foreclosure marketplace RealtyTrac. Can you guess which city is No. 1?
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Reader recommendation: The Fine Print
Monitor readers share their favorite book picks.
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Stocks down on signs of global economic slowdown
Stocks fell on Wall Street Wednesday as evidence of a slowing global economy grows. The drop comes just one week after US stocks hit an all-time high.
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Stocks end four-day advance as energy slips
A four-day advance for stocks came to an end on Wall Street as falling commodity prices brought down the stocks of energy and mining companies.
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The New Economy Worst company in America: Will it be EA, the video gamemaker, again?
Worst company in America: Why is Electronic Arts in the Final Four for "worst company in America?"
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Unemployment rate drops to 7.7 percent. How real is job-market progress?
Unemployment is at its lowest level since the end of 2008. But the improvement stemmed from mixed reasons: more people hired, but also fewer people looking for work.
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Stocks rise on drop in unemployment
Stocks closed up on Wall Street Thursday on the latest evidence that hiring is picking up. Optimism that the housing market is recovering is also pushing stocks higher.
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'Sequester' watch: Will US spending cuts really cost 750,000 jobs?
Critics say President Obama is spinning the likely impact of 'sequester' cuts to pressure Republicans to replace them, but private-sector forecasts suggest that a loss of 750,000 jobs may not be far off.
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Sequester fight: what investors are missing
The stock market is taking the sequester in stride so far. But investors shouldn't be too complacent about the impact of federal spending cuts.
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JPMorgan cuts 19,000 jobs, calls it a good sign
JPMorgan cuts 15,000 jobs from its troubled mortgage sector, citing healthier home mortgages. The other 4,000 job cuts come from consumer banking.
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Stocks up as Dow closes at year high
Stocks gained on impressive results from two big consumer brands Tuesday, and the Dow closed at its highest level of the year. Beauty products maker Avon saw a 20 percent gain in its stock price.
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With 42 homicides, Chicago sees most violent January in 11 years
The month isn't over yet, but Chicago has already logged 42 homicides, making this the city's most violent January since 2002. A teenage girl who attended Obama's inauguration is the latest victim.
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Cover Story
The app-driven life: How smartphone apps are changing our livesOur app-driven life: Smart-phone apps are becoming the north star for millions of Americans who use them to navigate through life – shopping, playing, reading, dating, learning, and more with their fingertips.
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Will investors ride bull market?
Though stocks soared in 2012, investors stayed on sidelines. Will the bull market of early 2013 lure them back into stocks?
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The Reformed Broker Debunking the Warren Buffett debunkers
Warren Buffett's head-and-shoulders above all other investors stature has only been cemented during this last five years, Brown writes.
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White House opts not to create a Death Star. But a ‘magic coin’?
A number of fanciful ideas on economic policy have been floated in recent weeks. The so-called Death Star idea, officially rejected, was a stimulus plan. The 'magic coin' plot is meant to sidestep a showdown with Congress over the national debt ceiling. Seriously?
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Stocks rise; S&P 500 just below 5-year high
Stocks rose on Wall Street Friday, but the Standard & Poor's 500 index fell just shy its five-year high. Boeing stock fell after the FAA announced a comprehensive review of Boeing's 787 after a fire and a fuel leak earlier this week.
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Stocks rise on good company earnings
Stocks closed higher Wednesday, led by Boeing. Stocks are facing their first big challenge of the year as companies start to report earnings for the fourth quarter of 2012.
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Stocks drag S&P 500 down from 5-year high
Stocks fell Monday with the S&P 500 dropping 4.58 points to close at 1,461.89. Bank stocks ended the day little changed.
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IMF arrives in Egypt in effort to head off currency crisis
Leading bank HSBC said that a $4.8 billion International Monetary Fund loan is 'the only thing' preventing Egypt from a currency crisis brought on by post-revolution political upheaval.
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Japanese firms set spending record in buying up foreign assets
Japanese corporations will have spent more on foreign companies than they did at the height of the '80s. But few heads are turning, showing how much has changed in perceptions of Japan.
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Stocks move higher as budget talks progress
Stocks rose Monday as signs of fiscal cliff progress in Washington made their way to Wall Street. Stock traders paused for a minute of silence at 9:15 a.m. EST to remember those killed in a gunman's rampage through a Connecticut elementary school.
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Cyberattacks on US banks resume, aiming to block their websites
The latest cyberattack mirrors one in early fall that targeted websites of major US banks. Security experts say the attacks appear to be the handiwork of a group tied to Hamas, which the US lists as a terrorist organization.
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China's economic recovery picks up pace, but for how long? (+video)
While the global recession took a toll, China's economy is now in a sweet spot that may hold through the first half of 2013, say some analysts. But worrisome longer-term trends are surfacing.
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Obama talks 'fiscal cliff.' Why the urgency to reach deal sooner, not later?
Speed is of the essence in dealing with the fiscal cliff, some economists warn. Delaying until late this year – or worse, 2013 – would mean a bigger hit to the US economy, and even a recession.
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Dow loses 313 in post-election sell-off
Stocks plummeted during Wall Street's first day of trading after President Obama's reelection. Stocks also spiraled downward in the days after Obama's first victory.
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