Bank of America Swings to 2nd Quarter Profit on Strong Revenue
Bank of America Corp. (BAC) reported a second-quarter profit as the banking giant benefited from comparison to a tough year-ago period when it took a large hit from soured mortgages, showing improvement even as many of the bank's business lines and balance sheet shrank.
Intel, EMC, VMware Reports Bode Well For IBM, Data Center Cos
Intel Corp. (INTC) and other tech companies late Tuesday offered encouraging signs for business spending on data-center equipment, something that bodes well for International Business Machines Corp.'s (IBM) forthcoming second-quarter earnings report.
IMF Urges Action to Save Currency
In its most prescriptive recommendations to date, the International Monetary Fund Wednesday urged euro-area policymakers, and especially the European Central Bank, to act aggressively to stem the relentless spread of the debt crisis across the currency bloc.
BP Begins Next Stage in TNK-BP Sale Process; Enters Negotiation Period
BP PLC, the oil and gas company, said Wednesday it is beginning the next stage in the process of selling its 50% stake in TNK-BP, a Russian oil company owned equally by BP and Alfa Access-Renova, after the latter company decided to exercise its right to enter a period of negotiation to purchase