Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show.
U.S. stocks fell, following yesterday’s rally for benchmark gauges, amid concern about the strength of the economy and an impasse over European bailout talks, while Apple Inc. tumbled on disappointing results.
Bank of America Corp. and JPMorgan Chase & Co. reported more demands from investors to repurchase faulty mortgages made after 2008, when the banks said they upgraded their standards to curb defaults.
Silver, the best-performing and most-volatile precious metal of the past year, may rebound from a bear market as investors bet on growth in developing nations and an extended European debt crisis.
Greek protesters clashed with police in central Athens after Prime Minister George Papandreou vowed to push through a further round of austerity and appealed to Europe to cut Greece’s debt load at an Oct. 23 summit.
U.S. Army and Air Force special operations forces have used miniature kamikaze drones against Taliban targets and plan to renew the attacks next year, according to documents and an Army official.
European banks, assuring investors they can weather the sovereign debt crisis by selling assets and reducing lending, may not be able to raise money fast enough to prevent government-forced recapitalizations.
Bank of America Corp., hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people with direct knowledge of the situation.
Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. were sued for allegedly colluding to fix the fees paid by consumers for access to automated teller machines.
Greek Prime Minister George Papandreou is set to risk further social unrest over a new round of austerity measures that he needs to convince euro-area leaders that Greece will hold to its bailout program.