Latest Bank of America Corporation News

FILE - In this May 5, 2019, file photo Warren Buffett, Chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb. Buffett's company has purchased another $400 million of Bank of America stock less than a week after buying roughly $800 million of the bank's stock. Berkshire Hathaway Inc. said Monday, July 27, 2020 it held 998 million Bank of America shares after the latest purchases, which represents roughly 11.5% of the bank's stock. (AP Photo/Nati Harnik, File)

Buffett's firm has bought $2.1B of Bank of America stock

Aug. 5, 2020 12:01 PM EDT

OMAHA, Neb. (AP) — Warren Buffett's company has bought $2.1 billion of Bank of America stock over the past three weeks after the latest purchases of $340 million of shares. Berkshire Hathaway Inc. said Tuesday it bought 13.6 million Bank of America shares between Friday and Tuesday. The Omaha,...

FILE - In this May 5, 2019, file photo Warren Buffett, Chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb. Buffett's company has purchased another $400 million of Bank of America stock less than a week after buying roughly $800 million of the bank's stock. Berkshire Hathaway Inc. said Monday, July 27, 2020 it held 998 million Bank of America shares after the latest purchases, which represents roughly 11.5% of the bank's stock. (AP Photo/Nati Harnik, File)

Buffett's firm buys another $400M of Bank of America stock

Jul. 28, 2020 2:29 PM EDT

OMAHA, Neb. (AP) — Warren Buffett's company has purchased another $400 million of Bank of America stock less than a week after buying roughly $800 million of the bank's stock. Berkshire Hathaway Inc. said Monday it held 998 million Bank of America shares after the latest purchases, which represents roughly...

Motorists take part in a caravan protest in front of Senator John Kennedy's office at the Hale Boggs Federal Building asking for the extension of the $600 in unemployment benefits to people out of work because of the coronavirus in New Orleans, La. Wednesday, July 22, 2020. (Max Becherer/The Advocate via AP)

Jobless claims rise as cutoff of extra $600 benefit nears

Jul. 23, 2020 8:26 PM EDT

WASHINGTON (AP) — The nation got another dose of bad economic news Thursday as the number of laid-off workers seeking jobless benefits rose for the first time since late March, intensifying concerns the resurgent coronavirus is stalling or even reversing the economic recovery. And an extra $600 in weekly...

Hairstylist Travis Vu gives a haircut to Minh Dao at his outdoor hair salon in Fountain Valley, Calif., Wednesday, July 22, 2020.  The worsening COVID pandemic risks choking off the U.S. economy’s fragile recovery and turn what some investors hoped would be a sprint back to normal into a long hard slog. States like California that had begun to take tentative steps to reopen are reversing course, while states across the Sunbelt that balked at taking preventative measures in the Spring are quickly backtracking as the number of Americans hospitalized or dying from the virus hits new records. (AP Photo/Jae C. Hong)

Virus surge interrupts hopes for a swift economic recovery

Jul. 23, 2020 9:10 AM EDT

The worsening COVID pandemic risks choking off the U.S. economy's fragile recovery and turn what some investors hoped would be a sprint back to normal into a long hard slog. States like California that had begun to take tentative steps to reopen their stores and restaurants are reversing course, while states...

FILE - In this April 15, 2020, file photo, two people walk past a closed sign at a retail store in Chicago. Ever since the U.S. government launched its emergency lending program for small businesses on April 3, there have been complaints that bigger companies had their loans approved and disbursed more quickly. There is now evidence to back up those complaints. (AP Photo/Nam Y. Huh, File)

Head of the line: Big companies got coronavirus loans first

Jul. 20, 2020 3:04 PM EDT

NEW YORK (AP) — Ever since the U.S. government launched its emergency lending program for small businesses on April 3, there have been complaints that bigger companies had their loans approved and disbursed more quickly. There is now evidence to back up those complaints. An Associated Press analysis of...

A currency trader wearing a face mask watches computer monitors near the screens showing the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Friday, July 17, 2020. Asian stock markets rebounded Friday after Wall Street closed lower amid uncertainty about the U.S. economic outlook. (AP Photo/Lee Jin-man)

Asian stock prices rebound after Wall Street slips

Jul. 16, 2020 11:36 PM EDT

BEIJING (AP) — Asian stock markets were mostly higher Friday after Wall Street closed lower amid uncertainty about the U.S. economic outlook. Benchmarks in Shanghai, Hong Kong and Seoul advanced a day after retreating on weak Chinese retail spending data. Tokyo and Sydney were little-changed. Overnight,...

FILE - In this June 22, 2020, file photo, wearing a face shield, server Brandon Fricke, left, takes orders from dine-in customers surrounded by protective dividers at Water Grill seafood restaurant in Los Angeles. Restaurants and stores have been forced to make changes to survive. (AP Photo/Jae C. Hong, File)

Rising coronavirus infections threaten US economic recovery

Jul. 16, 2020 5:31 PM EDT

BALTIMORE (AP) — Rising coronavirus infections across dozens of states are threatening the U.S. economic recovery, forcing businesses and consumers to freeze spending and keeping the unemployment rate stubbornly high. The government reported Thursday that retail sales rose a sharp 7.5% in June, but the...

FILE - In this Monday, Oct. 14, 2019 file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building, in Boston. Consumer banking giant Bank of America saw its profits drop by more than half in the second quarter, the bank reported Thursday, July 16, 2020, as the bank set aside billions of dollars to cover potentially bad loans caused by the pandemic.  (AP Photo/Steven Senne, File)

Bank of America sees recessionary impacts 'deep into 2022'

Jul. 16, 2020 2:39 PM EDT

NEW YORK (AP) — Bank of America's second-quarter profits were sawed in half and the consumer banking giant set aside billions of dollars to cover potentially bad loans caused by the coronavirus pandemic. Earnings from the nation's biggest banks are painting a picture of American families and businesses...

Workers wearing masks walk by the New York Stock Exchange during the coronavirus pandemic, Thursday, July 9, 2020, in New York. (AP Photo/Mark Lennihan)

Wall Street rallies as optimism returns to cap erratic week

Jul. 10, 2020 4:33 PM EDT

NEW YORK (AP) — Optimism returned to Wall Street on Friday, and stocks rallied to cap a shaky week dogged by worries that rising coronavirus counts may halt the economy’s recent upswing. The S&P 500 climbed 1%, and the biggest gains came from cruise ship operators, airlines, banks and other...

A man walks in the rain past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, July 10, 2020. Asian stock markets followed Wall Street lower Friday on worries economic improvements might fade as coronavirus cases increase in the United States and some other countries. (AP Photo/Eugene Hoshiko)

Asian stocks sink after Wall St losses on economy worries

Jul. 9, 2020 11:43 PM EDT

BEIJING (AP) — Asian stock markets followed Wall Street lower Friday on worries economic recoveries might fade as coronavirus cases increase in the United States and some other countries. Benchmarks in Shanghai, Tokyo, Hong Kong and Southeast Asia retreated a day after strong gains driven by the rise of...