NEW YORK - US STOCKS finished mostly higher on Thursday, supported by a series of relatively encouraging economic data as investors weighed a proposed overhaul of the financial regulatory system.
NEW YORK - BANK of America has been paying millions in bonuses in order to lure talent and retain investment bankers the company views as vital, the New York Post reported, citing sources.
Among those who are said to have received payouts are two former Merrill Lynch bankers, Fares Noujaim, recently appointed BofA's vice chairman of investment banking, and Harry McMahon, the paper said.
NEW YORK - The US economy sprouted more green shoots of recovery in data released on Thursday, with weekly jobs figures showing unexpected improvement and the slumping factory sector revealing dramatic signs of a rebound.
The data shored up hopes that the US economy, which has been in recession since December 2007, may have hit bottom, but the labour market and hard-hit factory sector clearly are not out of danger yet.
WASHINGTON - TREASURY Secretary Timothy Geithner on Thursday defended the US administration's vast regulatory overhaul plan as 'essential' in averting or containing future financial crises.
Mr Geithner appeared in Congress a day after President Barack Obama unveiled the wide-ranging program to reform financial market rules in the most sweeping overhaul since the 1930s.
