Bank of America's corporate center in Charlotte, N.C.
Credit Scott Olson / Getty Images
While denying it did anything wrong, Bank of America announced this morning it will pay "$2.43 billion and institute certain corporate governance policies ... to settle a class action lawsuit brought in 2009 on behalf of investors who purchased or held Bank of America securities at the time the company announced plans to acquire Merrill Lynch."
European finance ministers have asked Spain if it might need a few bucks to tide it over - in particular, $125 billion to prop up failing banks. The Spanish government is expected to announce today how much of that sum it will need.
Shoring up banks is one step Spain is taking to prevent economic collapse. Another step is to slash more than $50 billion dollars in spending.
Lauren Frayer reports from Madrid on Spain's new budget, unveiled last night.
The convenience store chain is allowing customers to choose: coffee in a blue cup for President Obama, or a red cup for Mitt Romney. And for the undecided, or those just indifferent to politics, they can request a plain cup. The company tabulates the choices at the register and results are posted daily on its 7-Election website.
The report from the National Association of Colleges and Employers says hiring for the upcoming class of graduates will jump 13 percent from a year ago. But the improvement won't get the job market for new grads back to where it was before the recession.
PNC Bank says its website is the latest victim of a denial of service attack. Users who tried to access the bank's websites had trouble loading the pages, or couldn't get into their accounts. But officials say the accounts were not compromised.
Specialist David Pologruto works at his post on the floor of the New York Stock Exchange on Sept. 13, as Federal Reserve Chairman Ben Bernanke holds a news conference in Washington. The world's central banks are easing credit, putting more money into the global economy.
The world's central banks are pumping cash into their economies, pushing down interest rates in hopes the ready cash and lower rates will boost borrowing and economic activity. Everyone agrees the action is dramatic and unprecedented, but there's disagreement over whether they will do more harm than good.
Economists know very well the trillions of dollars being added by the central banks to the global economy can be risky.
"These are risks about long-term rises in inflation, housing bubbles potentially building up," says Jacob Kirkegaard of the Peterson Institute.