(Reuters) – Standard & Poor’s on Tuesday downgraded 24 Italian banks and financial institutions, citing renewed “market tensions” and lower economic growth prospects. The action was taken after a review of the implications of a tougher-than-previously-anticipated macroeconomic and financial environment for the Italian banks, the credit rating agency said. “In […]

CHARLOTTE, North Carolina (Reuters) – Bank of America Corp reported a third-quarter profit, boosted by accounting gains, but its main businesses struggled as income from lending and investment banking fell. But the bank’s shares rose as some analysts and investors were heartened by higher-than-expected profit and an increase in quarterly […]

(Reuters) – Goldman Sachs Group Inc lost $428 million in the third quarter, only its second quarterly loss as a public company, as its investment portfolio tanked and trading revenue fell. The results underscore how investment banks can face headaches from their assets even as regulators clamp down on risk-taking. […]