Buffett backs Bank of America with $5 billion investment
Warren Buffett's Berkshire Hathaway to invest $5 billion in Bank of America, sending its stock up 9 percent. Analysts call Buffett a white knight as Bank of America seeks to restore credibility after mortgage woes and heavy losses.
MENTIONED IN THIS ARTICLE
Berkshire Hathaway
Bank of America
New York
Warren Buffett
Buffett
Berkshire Hathaway Inc
Bank of America Corp
Glenn Schorr
Nomura Equity Research
Brian Moynihan
Moynihan
Dow Ends Three Day Rally as Markets Slide
U S and European stock indexes fell after trading opened, with the DAX dropping four percent. The Dow Jones fell 170.89 points to 11,149.82 as Bank of America surged nine percent on news of a $5 billion investment by Warren Buffett. Morgan Stanley and Citigroup gained while only BofA and American Express rose among the Dow 30. Market volatility followed recent reversals amid investor uncertainty ahead of Ben Bernanke's Jackson Hole speech. Unemployment benefit claims rose to 417,000, the highest in five weeks, helped by Verizon strike effects.
MENTIONED IN THIS ARTICLE
New York
U.S
Europe
Germany
Bank of America Corp
Warren Buffett
Bofa
Bank of America
Morgan Stanley
Citigroup Inc
American Express Co
Dow
Robert Stein
Astor Asset Management
Stein
Federal Reserve
Ben Bernanke
Jackson Hole
Wyo
Bernanke
Labor Department
Verizon
Apple must show it can deliver without Steve Jobs
Tim Cook has run Apple in Jobs absence and led the company through stock gains when in charge. Analysts differ on the impact of Jobs departure with Tech veteran Trip Chowdhry arguing Apple’s edge was Jobs’s innovation.
MENTIONED IN THIS ARTICLE
Apple
San Francisco
Steve Jobs
Apple Inc
Tim Cook
Jobs
Cook
Ucts
Trip Chowdhry
Global Equities Research
Chowdhry
JPMorgan to pay 88.3 million to settle OFAC violations
JPMorgan Chase Bank will pay 88.3 million dollars in an agreement with the Treasury Department over alleged OFAC rule violations. The penalties cover lending to entities tied to countries with illicit nuclear programs and Cuba and Sudan dealings. OFAC credited the bank for cooperation.
MENTIONED IN THIS ARTICLE
Washington
Jpmorgan Chase Bank
Treasury Department
Cuba
Sudan
Treasury
Office of Foreign Assets Control
Big
Wall Street Bank
Jpmorgan Chase
U.S
OFAC
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Pallavi Gogo
The
Associated Press
Jonathan Finger
Finger Interests Ltd
Jerry Dubrowski
Charlotte, North Carolina
Countrywide Financial Corp
Jordan Robertson
Jeff Gamet
Mac Observer
Tim
Steve
Delta
Delta Air Lines
Boeing Co
Boeing
Irene
West Texas
Brent
London
Tom Bentz
BNP Paribas Commodity Futures
Delaware
New Jersey
Pennsylvania
Virginia
Nokia
Helsinki
Werere
Dow Industrials
Dow Transportation
Dow Utilities
NYSE
S&p
Wilshire
Russel
AMEX
PhrmAth
TiVo Inc
Virnetx
Bcomm
AdepiTch
inotFnMikts
Cameltinfo 4.15 ~77 -187 3.17 -34 -07 LifePress
BrownShog
jeMagin
AviatNetw
Marinep
SynergyRs
Ami
MN iSotSinn
Grehamop
Cninsure
PwShs
Intel
Gribasg G
Microsoft
SoitNex
Oracle
Micront
GenElec
Newscpa
Ishemkkts
NAP All
Delline
Wells Fargo
Yahoo
Dany Advanced
MGM Rets
Agreet
BkotAm NY
Ipvix
Bob Evans Nash
NiSource
Nordsons
Osmee Northropg NY
Nasd
Citignors NY
Ee Pnc
ParkerHan
Nash
Ace
Eee
Tf NY
RPM
RegionsFn
Fordm
Sherwin
Honcilind
Smucker NY
SprintNex NY
iShSilverene
Ishemts
Spdr and
Ishr2k NY
Steris
US Banco NY
US Steel NY
MorgCh
Wangemg
WalMart NY
LNB Brep
Woelle Fargo NY
Wendys Co NY
OSU
Yes Exch
Lt Sweet Cride
NYMX
Eurpacgra
Frinva
Anta Fins Goma
Amancan Furde Wagt U
Dodge & Cox IntiStk
Paneer Ee Rc
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