Bank of America share price moving towards $5

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Source: CNN Money

On Tuesday Bank of America's stocks fell more than 3% reaching a new one-year record low at $5.03 which is its lowest share value since March 2009. On yearly basis company has lost 62%. Bank of America was among financials that was downgraded by S&P yesterday. Company's rapidly diminishing value may force it to sell assets. BoA is also planning to fire approximately 30,000 employees in forthcoming 2 years.

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Wed, 30 Nov 2011 14:36:02 GMT

EU Finance ministers alerted of possible Italy's insolvency

According to a secret report acquired by the Guardian newspaper, in yesterday's summit, European leaders have been warned that Italy is exposed to insolvency. Report from ECB and EC said Mario Monti, Italian PM, should take more serious steps to contract nation's affliction such as tackling tax dodging. The report suggested the liquidity crisis may develop into solvency trouble whose consequences may be very harmful

Wed, 30 Nov 2011 14:24:26 GMT

Nikkei 225 experiences a slight decline

Japan's Nikkei Stock Average dropped 0.51% or 43.21 points on Wednesday trade and closed at 8,434.61. On monthly basis Nikkei 225 has lost 6.2%. Tech and resource stocks were among main decliners in the index. Sony Corp. lost 1.4%, Advantest Corp fell 2.7% while Elpida Memory Inc. edged down 5.6%. Metal producer Sumitomo Metal Mining Co. traded down 1.7%. In contrast, Olympus Corp. added 2.2% after rejecting

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