STEVENSON JACOBS

AP Business Writer
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Bank of America earns $2.78B in 2nd quarter

Bank of America said Friday its second-quarter net income rose 15 percent to $2.78 billion as improvements in the company's consumer loan businesses made up for a drop in trading revenue.

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JPMorgan earns $4.8 billion in 2nd quarter

JPMorgan Chase & Co. said Thursday its second-quarter net income soared 77 percent to $4.8 billion as a slowdown in losses from failed loans helped offset a difficult spring in trading and investment banking.

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Banks eye higher fees to boost declining revenue

Big banks facing big drops in revenue are looking to Main Street to make up the difference.

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KKR & Co. shares to trade on NYSE on July 15

KKR & Co. LP, the parent of private equity firm Kohlberg Kravis Roberts, said Tuesday that it will list its shares on the New York Stock Exchange on July 15.

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Buffett defends rating agencies for missing crisis

Billionaire investor Warren Buffett on Wednesday defended credit rating agencies that gave overly positive grades to mortgage-related investments before the housing bust. He said the agencies were among many who missed warnings signs of the crisis.

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Regulators scour trades for clues to market plunge

Regulators and Wall Street officials scoured millions of trades one by one Friday and canceled thousands as they sought to explain a record plunge in the stock market, undo the damage and keep it from happening again.

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Credit-rating agencies under fire in Europe crisis

The downgrading of European debt is turning up the heat on the firms that issue the ratings.

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Goldman traders get grilled — and its stock jumps

Goldman Sachs executives emerged mostly unscathed from a Senate grilling. The company's stock did even better.

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Goldman wages PR fight to clear its name

Goldman Sachs Group Inc. is fighting to clear its name, but not in a court of law.

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Goldman e-mails show how crash turned into cash

As the U.S. housing turned downward in January 2007, a Goldman Sachs trader wrote in e-mails to a woman he apparently was courting that investments he had sold were "like Frankenstein turning against his own inventor."

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Goldman executive in fraud case 'taking time off'

Goldman Sachs says the executive at the center of the government's civil fraud case is voluntarily taking some time off from work.

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Goldman reports huge profits, but troubles mount

Goldman Sachs has shown with its eye-popping quarterly profits that it is still the king of Wall Street, but the crown has lost some of its luster.

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SEC's probe of Goldman could widen to other banks

Goldman Sachs stepped up its defense against civil fraud charges Monday, telling clients it did not withhold information in a complex transaction involving risky mortgage securities. But a big question was: Will other big investment banks face similar charges?

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Citigroup earns $4.4B in 1Q as trading rebounds

Citigroup Inc. provided more evidence Monday that the nation's big banks may have turned a corner. The bank reported a surprise first-quarter profit as trading revenue offset losses from failed loans.

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Fraud charge deals big blow to Goldman's image

While Goldman Sachs contends with the government's civil fraud charges, an equally serious problem looms: a damaged reputation that may cost it clients.

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SEC probe highlights risky Wall Street dealmaking

A murky financial product created and sold by Goldman Sachs helped a Wall Street hedge fund pocket huge profits from the housing crash at the expense of unwitting investors, the Securities and Exchange Commission has alleged.

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JPMorgan Chase earns $3.3B in Q1 on strong trading

JPMorgan Chase & Co. reported a $3.3 billion first-quarter profit on big gains in the financial markets even as the Obama administration pressed for limits on banks' trading of risky but lucrative investments.

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Wall Street ramps up hiring as profits rebound

Wall Street is hiring again.

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As losses slow, big banks eye big profits in Q1

Being big could pay off for battered banks this earnings season.

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AIG CEO Benmosche received $2.7 million for 2009

American International Group Inc. CEO Robert Benmosche received $2.7 million in compensation for 2009 as the bailed-out insurer began selling assets to repay government loans, an Associated Press analysis of a securities filing shows.

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Goldman Sachs denies betting against clients

Goldman Sachs Group Inc. is denying that it bet against clients by selling them mortgage-backed securities while reducing its own exposure to such investments before the U.S. housing market crashed.

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Ex-Morgan Stanley CEO Mack received $939K in 2009

Former Morgan Stanley CEO John Mack's compensation fell 24 percent to $939,241 in 2009 as the bank repaid federal bailout money and returned to profitability after the financial crisis, an Associated Press analysis of regulatory filings shows.

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Banks unlikely to cut mortgages for many borrowers

The nation's banks suddenly find themselves under pressure to throw greater lifelines to their most troubled mortgage borrowers. But don't expect every struggling borrower to get a bailout.

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AP Sources: Pay czar to widen compensation review

The Obama administration's pay czar is launching a review of compensation for 25 top executives at all financial firms that received federal bailout money, according to three people familiar with the plan.

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Letter: Lehman accounting tricks possibly illegal

A Lehman Brothers whistleblower warned his bosses that accounting gimmicks the bank used before its collapse may have been illegal, his lawyer said Friday.

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