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Bank of America Corp., reports a fourth-quarter net loss of $2.39 billion, or 48 cents per diluted share. The news comes on the same day the Charlotte-based bank says it will slash its dividend to one cent per share from 32 cents and accept an additional $20 billion in bailout money. The federal ...
An Italian court has acquitted Bank of America Corp. of charges related to events before April 2002 in a trial of five banks, Dow Jones Newswires reports. The case revolves around the collapse of Parmalat Finanziaria SpA, the Italian dairy conglomerate that collapsed in December 2003 in one of Eu...
Occupancy at Charlotte-area hotel rooms fell to 49 percent in November, down 17 percent from a year earlier. According to data from the Charlotte Regional Visitors Authority, local hotel occupancy fell 8.2 percent in the first 11 months of last year to 61.6 percent. By comparison, in the first 11...
Family Dollar Stores Inc. has increased its quarterly dividend by 8 percent. The Matthews-based discount chain has declared a quarterly cash dividend on its common stock of 13.5 cents per share, payable April 15 to shareholders of record on March 13. The company's previous quarterly cash dividend...
Swedish home-furnishings giant Ikea is putting the final touches on its first Carolinas store, which opens in five weeks in the University area. The 356,000-square-foot store will be one of the chain's largest. It will feature three model homes and 49 room vignettes, including 17 kitchens. Shoppe...
Bank of America Corp.'s stock, which had already dropped more than 27 percent this month, fell another 18 percent in Thursday trading. BofA's stock, which has traded between $10.01 and $45.08 over the last year, closed at $8.32 per share Thursday, down from Wednesday's closing price of $10.20. Th...
Danny Pleasant has been named director of the Charlotte Department of Transportation. Pleasant became interim director after the retirement of Jim Humphrey in late 2007. He has worked in executive positions at the department for seven years. The department is responsible for Charlotte's road plan...
N.C. General Assembly lawmakers have authorized the drafting of legislation that would cut the state's corporate income tax rate and make fundamental changes to the incentives the state uses to lure companies to North Carolina. A 13-year-old system of tax credits - the William S. Lee program, whi...
The United States posted its lowest rate of inflation in more than 50 years in 2008, mainly because of a record plunge in gasoline prices. The U.S. Department of Labor says consumer prices dropped 0.7 percent in December, and rose just 0.1 percent for the year. The small uptick last year was much...
MMG Update + By The Numbers - Tuesday, January 20, 2009 10:19AM ET Current Trend Direction: Sideways Risks favor: Floating Current Price of FNMA 4.0% Bond: $100.06, -12bp Today marks the inauguration of Barack Obama, America's 44th president. President-Elect Obama has an arduous task ahead of him...