Bank of America to Pay $500M to Settle Investor Lawsuit
Bank of America says it will pay $500 million to settle a class-action lawsuit involving investors who say they were misled in their purchase of mortgage-backed investments.
bank of new york mellon
Wall Street Watch Wednesday: Warren Buffett's Spring Cleaning
Warren Buffett was clearly in a selling mood during the second quarter: He unloaded big stakes in consumer products companies and put Intel outside his portfolio altogether. But he didn't just sit on the cash.
5 Companies That Really Do Care About the World
Consumers are becoming more and more socially conscious and want the goods and services they use to measure up. Here are five companies that make an effort to make the world a better place while making a tidy profit for themselves:
Global Woes Hold Only 'Modest Contagion' Risk for U.S. Banks
A "modest contagion" for financial stocks "should allow domestically focused financial stocks to stabilize in the coming weeks," despite the JPMorgan Chase trading mess and the "deteriorating conditions in Europe, according to KBW analyst Fred Cannon.
What to Watch This Week: Tech Wins; Banks Wince
There's never a dull moment on Wall Street, especially now that we're hitting 2012's first earnings season. What will help shape the week that lies ahead? Earnings and answers from banks, Google, eBay and IBM, and a big education related announcement from Apple.
CEO Shuffle: Three Major Corporate Chiefs Step Down
Announcements made late Wednesday and early Thursday revealed that three large companies -- Wendy's, Costco, and Bank of New York Mellon -- are losing their CEOs. And while the first two cases sound like they'll result in smooth transitions, the third comes as something of a shock.
What Was Wall St. Thinking? (Last Week Ed.)
Last week's puzzling developments on the Street included: Bank of New York alienating its richest depositors; Microsoft and Google fighting like middle-schoolers; DirecTV's CFO making an embarrassing disclosure; and Netflix slowing down as it approached the millionth Canadian milestone.
Cheap Stocks for Your Portfolio in a Pricey Market
The stock market has been on a tear over the past two years. With the major indexes hitting multi-year highs recently, the value pickings are slim. But one highlights five stocks that still have attractive prices in this rising market.
Investor Lawsuits Are Raising the Heat on Bank of America for 'Putbacks'
When Countrywide Financial created deeply flawed mortgage-backed securities, it wasn't just selling bad financial products: It was breaking its contracts. Now some ordinary investors are suing Countrywide's buyer, Bank of America, to force it to repurchase those bad mortgages. That's their right, but there's nothing simple about this case, or its ramifications.
Berkshire Buys Bank of New York, Sells Home Depot
Warren Buffett's Berkshire Hathaway has revised its investment portfolio during the third quarter, buying up shares of Bank of New York Mellon while unloading its stake in Home Depot.
Obama Urges House to Pass $26 Billion Jobs Bill for Teachers
President Obama urged lawmakers to pass a $26 billion jobs bill that Democrats say would save the jobs of 160,000 teachers across the country, as well as 150,000 first-responders, including police officers and firefighters. Republicans blasted the plan as a hand-out to unions.
The Case for Buying Bank Shares Now
Some pros are aiming straight at the eye of the financial hurricane, buying into the besieged banks. Here's why: The uncertainty threatening them has dissipated, and banks will now start looking for new ways to profit from the new rules.
Legal Briefing: BoNY Unit Charged With Knowing Silence on Madoff
New York's Attorney General has sued Bank of New York Mellon's Ivy Asset Management unit for keeping its clients' money with Ponzi-scheme operator Bernie Madoff -- even though it knew it was a scam. The investment adviser was earning big fees from Madoff.