Oil rises on strong equities, weakening dollar
The U.S. stocks rose driven by financial sector as analysts said that the large banks which have reported quarterly results turned to be healthier than expected. Bank of America reported quarterly profit of 5.9 billion dollars after JP. Morgan and Citi Group earnings beat market’s estimates, easing concerns about the negative impacts of European sovereign debt on bank system.
JPMorgan, Bank of America hit by new legal suits
JP Morgan Chase and Bank of America were hit with new suits over subprime mortgage securities purchased by a German bank which nearly collapsed from losses on the investments, court documents showed Friday.
U.S. to sue big banks over mortgage securities: report
WASHINGTON (Reuters) – The agency that oversees mortgage markets is preparing to file suit against more than a dozen big banks, accusing them of misrepresenting the quality of mortgages they packaged and sold during the housing bubble, The New York Times reported on Thursday.
Bank of America’s Mortgage Reduction Program
Bank of America announced that it will forgive some troubled mortgages debt in order to provide assistance in stabilizing the economy and housing market, reports Solomon Finance. With further dropping housing sales and house values, increasing alternative lending such as payday loans due to less traditional credit availability, and pressure from both homeowners and investors, [...]
Savvis Executives to Present at Major Investor Conferences in August and September
ST. LOUIS, August 9, 2010 /PRNewswire/ — Savvis, Inc. (Nasdaq: SVVS), a global leader in cloud infrastructure and hosted IT solutions for enterprises, today announced that Jim Ousley, chairman and chief executive officer, and Bryan Doerr, chief technology officer, will be presenting at investor conferences in August and September. August 10: Oppenheimer’s Annual Telecommunications, Media [...]
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