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Bank of America Corp. (NYSE: BAC), the lender divesting assets to raise capital, is in talks with Swiss wealth manager Julius Baer Group Ltd. to sell its Merrill Lynch wealth management business outside the U.S.
There’s a silver lining to the bearish global economic news – a slide in crude oil prices: U.S. gasoline prices fell from their April peak, which will likely prompt more Americans to hit the road for the Independence Day holiday.
The prolonged crisis in the euro zone, coupled with signs that the U.S. economic recovery is faltering, have led to speculation that the Federal Reserve will provide more monetary stimulus, most likely through extending its Operation Twist program, at the June two-day Federal Open Market Committee meeting, which concludes on Wednesday June 20.
Twenty years after the 1992 Earth Summit, world leaders are returning to Rio de Janeiro to negotiate further progress toward sustainable development. However, the potential for this year’s Rio+20 Summit to have a similar impact is less likely.
This week's data releases highlight Wednesday's Federal Open Market Committee (FOMC) statement, which will likely present a dovish tone. However, those who are expecting for the announcement of renewed asset purchases will likely be disappointed.
A euro-area breakup might appear to be inevitable at this point. But, instead of Greece being pushed out the door, analysts say an outside-the-box solution to the euro zone's sovereign-debt problem would be for Germany to voluntarily withdraw from the euro and reinstall the Deutsche mark.
Wall Street's pessimistic outlook on corporate profits was proved wrong by surprisingly strong first-quarter results. However, will the second-quarter earnings season tell a different story?
US Airways has been very publicly circling AMR Corp., the bankrupt parent of American Airlines. Yet industry experts expressed concerns that, while a potential merger would be a boon to the labor unions, the flying public would end up footing the bill.
Helicopter gunships aren't the only things Russia is giving Syria; now the Kremlin is printing money for the cash-strapped Damascus regime. But whereas the former makes Assad's regime stronger militarily, the latter may be contributing to an inflation rate that is now more than 30 percent.
That massive pile of cash corporate America has been sitting on for years is shrinking, and the reason it's declining bodes well for the nation's economy.
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