Bank of America pays $2.4bn to end Merrill case

Bank of America has agreed to pay $2.43bn (£1.51bn) to settle a shareholder lawsuit over its 2008 buyout of Merrill Lynch in one of the largest-ever settlements of a securities fraud class action.

Wells Fargo has its headquarters in San Francisco

US bank pays out $175m to settle claim of race bias

Wells Fargo accused of making black and Hispanic customers pay higher product fees

Tory fundraiser Lord Fink faces inquiry into Lords dinner for Amex clients

The Conservative Party treasurer is to face a full Parliamentary inquiry into allegations that he broke anti-sleaze rules.

Advertising looks set to win from the busy summer

Hopes are rising of a significant advertising boom from a triple whammy of feelgood events with the Diamond Jubilee, Olympics and Euro 2012 football championship between June and August.

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Alex Preston: Don't expect morality from a faceless behemoth that exists purely for profit

Banking is not a vocation. No one becomes a trader in order to follow a childhood dream

James Moore: Should we care what Paris Hilton thinks of our party?

The fact that the UK has so far escaped any hint of a credit downgrade has long been cited by the Coalition to support its preferred combination of spending cuts and tax rises to deal with the budget deficit. For goodness sake stop complaining about your hospital closing: Britain's still a AAA nation (Aa1 or somesuch in Moody's speak).

James Moore: Should we really care what Paris Hilton thinks about our party?

Outlook The fact that the UK has so far escaped any hint of a credit downgrade has long been cited by the Coalition to support its preferred combination of spending cuts and tax rises to deal with the budget deficit. For goodness sake stop complaining about your hospital closing: Britain's still a AAA nation (Aa1 or somesuch in Moody's speak).

Broker in Punch Taverns insider trading storm to accept fine

The broker at the centre of the Greenlight Capital insider trading scandal will not fight his £350,000 fine despite clients and rivals agreeing that he did little wrong.

Goldman Sachs boss backs same-sex marriage

One of Wall Street's most powerful figures has become the first major business leader to join a national campaign in support of same-sex marriage.

Spotlight on: Brian Moynihan, chief executive, Bank of America

Ooh, that's a tough job

It sure is. BofA is the definitely the shakiest of the big US banks, having never pulled itself free of the credit crisis. But Mr Moynihan is used to dealing with a few bruises. Earlier in his career he would regularly come to the office all beaten up from a rugby game the night before.

Goldman Sachs's top employees have seen packages cut by a half or more

Goldman pays out bonuses of £8bn

Investment bank's pay and bonuses for the year equal to the size of Albania's GDP

JPMorgan sets tone for Wall Street with pay cut

America's biggest bank, JPMorgan Chase, has announced a sharp fall in investment banking profits and a massive cut in its investment bankers' pay.

Ratings agency downgrades Hungary to junk status

Fitch downgraded Hungary's credit rating to junk status on Friday, citing a standoff between the government and international lenders like the IMF and the European Union over possible rescue loans.

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