Business Today: Stock futures flat as GE, BofA revs disappoint

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Good Morning Robert, FRI 16 Jul 2010 
 
Stock futures flat as GE, BofA revs disappoint
BofA, Citi results show loan demand lackluster
GE ends long slump with 16 percent profit growth
PersonalFinance: The lure of low mortgage rates
Wall Street reform clears Congress
Basel Committee says agrees bank buffer strategy
Goldman to settle with SEC for $550 million
Mattel profit misses on expenses, euro; stock down
Policymakers see no "catastrophes" in euro bank tests
Citigroup second-quarter earnings fall 37 percent


Stock futures flat as GE, BofA revs disappoint
July 16, 2010 08:28 AM ET
NEW YORK (Reuters) - Stock index futures were little changed on Friday after General Electric Co's and Bank of America's profits topped expectations but revenues declined, underscoring corporate America's struggles against headwinds in the economic recovery.

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BofA, Citi results show loan demand lackluster
July 16, 2010 08:33 AM ET
CHARLOTTE, N.C./NEW YORK (Reuters) - Bank of America Corp and Citigroup Inc reported quarterly results that showed credit losses are easing but loan demand remains lackluster.

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GE ends long slump with 16 percent profit growth
July 16, 2010 07:42 AM ET
BOSTON (Reuters) - General Electric Co reported a 16.1 percent rise in profit, topping analysts' expectations and ending a streak of nine quarters of decline, on strong demand for healthcare and oil and gas equipment.

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PersonalFinance: The lure of low mortgage rates
July 16, 2010 07:32 AM ET
WASHINGTON (Reuters) - Three straight weeks of record low mortgage interest rates has spurred another refi boom. That's understandable: The idea of locking in 4.5 percent for 30 years is really tempting.

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Wall Street reform clears Congress
July 16, 2010 05:54 AM ET
WASHINGTON (Reuters) - The Congress on Thursday approved the broadest overhaul of financial rules since the Great Depression and sent it to President Barack Obama to sign into law.

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Basel Committee says agrees bank buffer strategy
July 16, 2010 07:16 AM ET
LONDON (Reuters) - Banking supervisors published draft rules on Friday that will force banks around the world to build up extra capital in a boom, but gave no hint of what level of funds lenders would be required to hold.

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Goldman to settle with SEC for $550 million
July 15, 2010 09:14 PM ET
WASHINGTON/NEW YORK (Reuters) - Goldman Sachs Group Inc agreed to pay $550 million to settle civil fraud charges over how it marketed a subprime mortgage product, ending months of negotiations that rattled the bank's clients and investors.

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Mattel profit misses on expenses, euro; stock down
July 16, 2010 08:31 AM ET
NEW YORK (Reuters) - Mattel Inc reported a smaller-than-expected quarterly profit as the impact of the weaker euro and disappointing cost-cutting efforts offset strong Hot Wheels sales and the boost the company got from its license for the Hollywood blockbuster "Toy Story 3."

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Policymakers see no "catastrophes" in euro bank tests
July 16, 2010 07:21 AM ET
PARIS/DUBLIN (Reuters) - Stress tests on European banks should not reveal any major problems among the big names, top officials said on Friday, saying the financial health check will be transparent and ease worries among investors.

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Citigroup second-quarter earnings fall 37 percent
July 16, 2010 08:32 AM ET
NEW YORK (Reuters) - Citigroup Inc posted a $2.7 billion quarterly profit, down 37 percent from the same quarter last year, hurt by lower revenue in its investment banking business.

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