Bank of America is approaching 2-year low

Source: CNN Money

Bank of America is moving towards 2-year low share price of $5.13. On Tuesday at NYSE trading session company's stocks closed at $5.37. Bank of America extended its losses after The Wall Street Journal reported that bank is facing difficulties to meet US regulatory requirements. Share price has already given up 59% comparative to the previous year. 

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Wed, 23 Nov 2011 09:05:59 GMT

IMF extends lending power

IMF accepted several changes to broaden its lending power to counter European debt turmoil. The main goal of proposed reforms is to support troubled countries with cash in hard times and especially to relatively healthy countries with short-term credit crunch or so called crisis-bystanders. According to Christine Lagarde, head of IMF, organization's credit line could be used for insurance or short-term loans to protect

Wed, 23 Nov 2011 08:41:01 GMT

Chinese stocks drop for sixth consecutive day

China's stocks are experiencing a decline for a sixth day in a row as government data indicated that national manufacturing is shrinking amid trouble in global economy. Anhui Conch Cement Co and Sany Heavy Industry Co each gave up at least 0.9% as purchasing managers' index sank. China Shipping Development Co dropped 1.3% on less than expected US growth. Shanghai Composite has lost 15%

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