US stocks swing between gains and losses on Wednesday

Note: This section contains information in English only.
Source: Marketwatch

US shares fluctuated on Wednesday experiencing sharp drop in midday and recovering afterwards. Dow Jones Industrial Average closed 0.03% or 4.16 points higher at 12,107.74, while S&P 500 finished 0.2% or 2.42 points up at 1,243.72. Only Nasdaq Composite did not manage to recover and closed 0.99% or 25.76 points down, led by Oracle Corp sell-off.

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Thu, 22 Dec 2011 09:56:56 GMT

Bank of America to pay $335 million for violation fair lending rules

Bank of America Corp. will be forced to pay $335 million to reimburse borrowers of Countrywide Financial Corp as they were required to pay higher interest rates and fees for mortgages. Countrywide which was acquired by BOA in 2008 charged higher interest rates and fares to around 200 000 Hispanic and black borrowers, said US Department of Justice.

Thu, 22 Dec 2011 09:56:14 GMT

Monti faces final vote on austerity package

Italy's Senate is going to vote on €30 bn ($39 bn) emergency plan today. The package of measures include levy on primary homes, pension overhaul, curb on tax fraud, all proposals aimed at curtailing borrowing costs and persuading investors that Italy is working on reducing Euro Zone's second-biggest debt. Nevertheless, analysts warn the measures may throw Italy further in recession given slowing nation's growth.

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