Mecklenburg Times: News for Mecklenburg, Union and Iredell counties Real Estate, Development, Construction, and Community News in the Charlotte area and throughout Mecklenburg, Union and Iredell counties

NEW YORK (AP) — Bank of America reported higher profits on better performance in consumer banking and lower costs, but the bank acknowledged that it is struggling to increase revenue despite an improving U.S. economy. BofA said Tuesday it earned ...

Tagged with: Bank of America

NEW YORK (AP) — Bank of America’s second-in-command is out of a job following a management shake-up announced late Wednesday. Bruce Thompson, Bank of America’s chief financial officer for the last five-and-a-half years, will be stepping down, CEO Brian Moynihan ...

NEW YORK  — Wall Street and Main Street gave banks a boost last quarter. Fees from corporate mergers and commissions from trading fueled profits at big financial firms. But average Americans also helped by taking out more home loans and ...

NEW YORK  — Bank of America returned to profitability in the first quarter as the bank was able to move forward from its legal troubles last year. However, the results came in short of some analysts’ estimates. The consumer banking ...

NEW YORK  — Morgan Stanley said Wednesday that it has agreed to pay $2.6 billion to settle with the federal government over its role in the mortgage bubble and subsequent financial crisis. The settlement makes Morgan Stanley the latest Wall ...

NEW YORK  — A federal judge imposed a $1.3 billion civil penalty against Bank of America on Wednesday for its role in selling risky mortgages to Fannie Mae and Freddie Mac that were advertised as safe investments. The fine was ...

Tagged with: Bank of America Fannie Mae Freddie Mac

NEW YORK  — They’re the $10 million men and women. Propelled by a soaring stock market, the median pay package for a CEO rose above eight figures for the first time last year. The head of a typical large public ...

NEW YORK— 2013 was a great year for the average investor, but few market strategists believe that 2014 will be anywhere near as good. The simple strategy of buying U.S. stocks, selling bonds and staying out of international markets isn’t ...

Tagged with: 2014 investors Wall Street

NEW YORK  — Stocks edged higher on Wall Street on Tuesday, helped by a report that showed American companies were investing in their businesses at the fastest pace since January. Trading was quiet ahead of the Christmas holiday. U.S. markets ...

Tagged with: Dow Jones lennar PulteGroup stocks Wall Street