Latest Bank of America Corporation News

A man stands near an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Oct. 16, 2020. Asian shares were mixed on Friday as investors weighed concerns about the U.S. presidential election and an economic stimulus package, on top of fears of flaring outbreaks of coronavirus. (AP Photo/Eugene Hoshiko)

Asian shares mixed amid 2nd wave coronavirus, election fears

Oct. 15, 2020 11:33 PM EDT

TOKYO (AP) — Asian shares were mixed on Friday as investors weighed concerns about the U.S. presidential election and an economic stimulus package, on top of fears of flaring outbreaks of coronavirus. Investors are also looking ahead to the release of data on the Chinese economy next week. Shares rose in...

FILE - In this Friday, Oct. 2, 2020 file photo, pedestrians pass the New York Stock Exchange,  in New York.  Stocks are pulling slightly higher in the early going on Wall Street, Wednesday, Oct. 14,  as investors pore over another batch of earnings reports from big U.S. companies. The S&P 500 added 0.3% in early trading Wednesday. A loss in the index a day earlier broke a four-day winning streak.  (AP Photo/John Minchillo, File)

Asian stocks follow Wall St lower as stimulus hopes fade

Oct. 15, 2020 12:07 AM EDT

Asian stocks followed Wall Street lower on Thursday as hopes U.S. leaders will agree on a new economic stimulus before the Nov. 3 presidential election faded. Benchmarks in Shanghai, Tokyo and Hong Kong declined. Sydney advanced. In Seoul, the company that manages boy band BTS made its market debut amid criticism...

How major US stock indexes fared Wednesday

Oct. 14, 2020 5:03 PM EDT

Stocks closed lower on Wall Street Wednesday, extending the market’s losses from a day earlier, as talks dragged on in Washington over another economic stimulus package. Companies that rely on consumer spending, banks and technology and communication stocks bore the brunt of the selling. Investors...

Allscripts, Concho rise; Wells Fargo, Bank of America fall

Oct. 14, 2020 4:39 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially Wednesday: Allscripts Healthcare Solutions, up $2.59 to $10.90 The electronic health records company is selling its CarePort Health business for $1.35 billion. Pilgrim's Pride, up 89 cents to $16.57 The poultry producer will pay a $110.5...

FILE - This Sept. 13, 2014, file photo, shows the Chase bank logo in New York. JPMorgan Chase says profits improved marginally in the third quarter, a notable change after the nation’s largest bank had to set aside billions in the last two quarters to cover losses from the coronavirus pandemic. The New York-based bank said it earned a profit of $9.44 billion, or $2.92 a share, in the July to September period.  (AP Photo/Frank Franklin II, File)

Bank profits remain resilient despite lingering pandemic

Oct. 14, 2020 4:36 PM EDT

CHARLOTTE, North Carolina (AP) — Unemployment remains high, many small businesses are struggling, and there are few signs that Congress and the White House can soon agree on another stimulus package to help the U.S. economy in the pandemic. But Wall Street banks are on the rebound after slumping the first...

Goldman Sachs profits nearly doubles, helped by trading

Oct. 14, 2020 10:09 AM EDT

CHARLOTTE, North Carolina (AP) — Goldman Sachs said Wednesday that its profits jumped sharply in the third quarter, helped by a strong performance by its trading desks and less need to set aside funds to cover potentially bad loans. The New York-based investment bank said it earned $3.62 billion, or $9.68...

FILE - In this Oct. 14, 2019 file photo a passer-by walks past the entrance to a Bank of America ATM, in Boston.  Bank of America Corp. says profit fell 15.6% to $4.88 billion in the third quarter from $5.78 billion a year ago. The bank, based in Charlotte, North Carolina, said Wednesday, Oct. 14, 2020, that it had earnings of 51 cents per share.  (AP Photo/Steven Senne, File)

Bank of America profit falls 15.6% in third quarter

Oct. 14, 2020 7:56 AM EDT

CHARLOTTE, N.C. (AP) — Consumer banking giant Bank of America says third-quarter profit declined 15.6% from a year earlier, but saw less need to put aside money to cover potentially bad loans, citing improvements in the U.S. economy. BofA was the latest major bank, after JPMorgan Chase and Citigroup, to...

Takeaways: Labor abuses in the palm oil industry

Sep. 25, 2020 2:04 PM EDT

PENINSULAR MALAYSIA (AP) — Palm oil is almost impossible to avoid. It can be found in roughly half the products on supermarket shelves, from Dove soap and Oreo cookies to instant noodles and hand sanitizer. While most shoppers know little about the commodity or the human toll, the $65 billion industry has...

A little girl holds palm oil fruit collected from a plantation in Sumatra, Indonesia, Nov. 13, 2017. An Associated Press investigation has found many palm oil workers in Indonesia and neighboring Malaysia endure exploitation, including child labor. (AP Photo/Binsar Bakkara)

Palm oil labor abuses linked to world’s top brands, banks

Sep. 24, 2020 10:32 PM EDT

PENINSULAR MALAYSIA (AP) — Jum’s words tumble out over the phone, his voice growing ever more frantic. Between sobs, he says he’s trapped on a Malaysian plantation run by government-owned Felda, one of the world’s largest palm oil companies. His boss confiscated and then lost his...

Today in History

Sep. 15, 2020 12:00 AM EDT

Today in History Today is Tuesday, Sept. 15, the 259th day of 2020. There are 107 days left in the year. Today’s Highlight in History: On September 15, 1963, four Black girls were killed when a bomb went off during Sunday services at the 16th Street Baptist Church in Birmingham, Alabama. (Three Ku Klux...