NEW YORK - BANK of America's chief executive Ken Lewis laid out his plans for raising new capital to meet regulatory requirements after the government said the bank is facing a US$33.9 billion (S$49.6 billion) shortfall.
WASHINGTON - Troubled US mortgage finance giant Fannie Mae on Friday reported a loss of US$23.2 billion (S$34 billion) in the first quarter of 2009 as it reeled from a home mortgage meltdown that triggered global crisis.
WASHINGTON - THE head of the Securities and Exchange Commission said on Friday she favours a new proposal for federal regulators sharing oversight of companies that pose financial risks to the US economy.
NEW YORK - US SHARES jumped on Friday after a largely positive report card on the country's leading banks as well as better-than-expected labor market data.
