Latest Bank of America Corporation News

US economy slowed but still grew at 2.9% rate last quarter

Jan. 26, 2023 16:11 PM EST

WASHINGTON (AP) — The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession. Thursday’s estimate from the Commerce Department showed that the...

Federal Reserve and the markets in standoff on rate hikes

Jan. 24, 2023 11:19 AM EST

WASHINGTON (AP) — Sooner or later, either Wall Street or the Federal Reserve has to blink. Nearly a year into the Fed’s drive to quash inflation by hiking interest rates at a blistering pace, investors still don’t seem to fully believe what the Fed warns is coming next: Higher...

Goldman, M. Stanley profits plunge as dealmaking dries up

Jan. 17, 2023 10:55 AM EST

NEW YORK (AP) — The profits for two iconic Wall Street firms — Goldman Sachs and Morgan Stanley — plunged sharply last quarter as volatile markets cut deeply into investment banking. Goldman's profits tumbled 66% to $1.33 billion in the fourth quarter, it said Tuesday, well...

Wall Street ends higher as company earnings season kicks off

Jan. 13, 2023 18:04 PM EST

NEW YORK (AP) — Stocks closed higher on Wall Street Friday to give the S&P 500 its best week in two months as earnings reporting season gets underway and CEOs begin to show how well or poorly they’re navigating high inflation and a slowing economy. The year has begun on Wall...

Bank of America profits rise; bank warns of slowing economy

Jan. 13, 2023 08:24 AM EST

NEW YORK (AP) — Bank of America's fourth-quarter profits rose slightly from a year ago, as higher credit costs and potentially bad loans more than offset the bank's sharp rise in interest revenue. The Charlotte, North Carolina-based bank said Friday that it earned a profit of...

Guest lineups for the Sunday news shows

Dec. 30, 2022 15:30 PM EST

WASHINGTON (AP) — ABC’s “This Week” — Gov. Asa Hutchinson, R-Ark.; Rep.-elect Maxwell Frost, D-Fla. __ NBC’s “Meet the Press” — Sen. Amy Klobuchar, D-Minn.; Rep. Mike Gallagher, R-Wis.; Facebook whistleblower Frances Haugen. __ ...

Buffett's firm cuts stakes U.S. Bank, BYD; adds chip maker

Nov. 14, 2022 19:15 PM EST

OMAHA, Neb. (AP) — Warren Buffett's company slashed its stake in U.S. Bank's parent company and also sold shares in Chinese electric car maker BYD in the third quarter, according to regulatory filings Monday. The moves were among several others including a more than $4.1 billion...

Panthers players push owner Tepper for grass field

Nov. 14, 2022 17:11 PM EST

CHARLOTTE, N.C. (AP) — A number of Carolina Panthers players are pushing the team’s multibillionaire owner David Tepper to replace the existing artificial surface at Bank of America Stadium with a grass field to help prevent injuries. Wide receiver D.J. Moore said team leaders...

Major banks support rainforest oil project despite problems

Nov. 04, 2022 14:49 PM EDT

LONDON (AP) — In the Putumayo region of the Colombian Amazon, Segundo Meneses' daily routine took him to the Chufiya river, its banks verdant and waters alive with catfish and piranha. On one morning seven years ago, he noticed a dark film lapping the shore. Where the river turned a bend, it...

Dan and Tanya Snyder hire firm to explore sale of Commanders

Nov. 02, 2022 15:33 PM EDT

After repeatedly saying he would never consider giving up the football team he rooted for as a child and has owned for more than two decades, Dan Snyder and wife Tanya have taken the first step toward selling the Washington Commanders. The team announced the surprising decision...