Piedmont Natural Gas posts 3rd-quarter loss as revenue tumbles by nearly halfCHARLOTTE, N.C. — Piedmont Natural Gas Inc. on Friday posted a fiscal third-quarter loss, driven by seasonal demand weakness in the natural gas market. GOP headliners McConnell and McCain hit the road to speak out on health care overhaulCHARLOTTE, N.C. — An odd couple of Republican senators have hit the road, arguing for a go-slow approach to President Barack Obama’s push to revamp health care. Insurers begin to assist victims of California wildfires, total damages unknownCHARLOTTE, N.C. — Insurance companies said Monday it was too soon to determine how much they would have to pay for claims from wildfires that have already burned more than 80 homes in California and threatened thousands more. With market rally on hold, traders seek signs of actual economic growthCHARLOTTE, N.C. — While investors go into the new week believing the economy is indeed emerging from recession, they still need to see more solid evidence of a rebound. Ban smoking in the military? No way, say many troopsFORWARD OPERATING BASE FALCON, Iraq — Gen. Douglas MacArthur had his signature corncob pipe. Soldiers got cigarettes in their C-rations during World War II. Even today, America’s war on tobacco seems to have largely bypassed the military. SPX, Thermax strike joint venture deal to market SPX products for coal-fired plants in IndiaCHARLOTTE, N.C. — Industrial equipment maker SPX Corp. and energy and environment management company Thermax Ltd. said Wednesday that they entered a joint venture to market SPX’s products to India’s power sector and selectively to Southeast Asia. Duke Energy adds Forsgren and Reinsch to its board of directorsCHARLOTTE, N.C. — Duke Energy said Tuesday it added two members to its board of directors. Bank of America defends $33M Merrill Lynch bonus settlementCHARLOTTE, N.C. — Bank of America Corp. on Monday defended the fairness of a proposed $33 million settlement it struck with federal regulators over executive bonuses paid out by Merrill Lynch, according to a federal court filing. SunTrust shares advance after S&P Equity report raises target price on stockCHARLOTTE, N.C. — SunTrust Banks Inc. shares advanced Thursday after Standard & Poor’s Equity Research raised its target price on the company’s stock, despite predicting higher loan loss provisions. Barclays Capital analyst says sell insurer Chubb, buy TravelersCHARLOTTE, N.C. — A Barclays Capital analyst recommended investors sell insurer Chubb Corp. and buy Travelers Cos., based on potential future losses at Chubb. BB&T to buy Colonial BancGroup branches, deposits in FDIC-backed deal, WSJ saysCHARLOTTE, N.C. — Shares of BB&T Corp. rallied Friday on reports it will buy deposits and branches of Colonial BancGroup Inc. in a deal backed by federal regulators to take the struggling lender into receivership. Genworth Financial stock slide after Citi downgrades due to recent run-up in sharesCHARLOTTE, N.C. — Shares of Genworth Financial Inc. slid Friday, after the insurer was downgraded by a Citi Investment Research analyst citing deteriorating fundamentals, including a recent run-up in the company’s share prices. Bank of America shares up after bank exec, US hedge fund Paulson & Co. buy sharesCHARLOTTE, N.C. — Shares of Bank of America shot up Thursday as a new executive at the bank, as well as a prominent hedge-fund manager, decided to place big bets on the company by buying up blocks of shares. Bank of America sues Colonial Bancgroup for $1 billion in loans, cashCHARLOTTE, N.C. — Bank of America Corp. is suing troubled Colonial Bancgroup Inc. for more than $1 billion in cash and loans, and asked a federal court to prevent Colonial from selling or otherwise disposing of the assets. Report: Pequot Capital Management, founder Samberg receive SEC Wells noticesCHARLOTTE, N.C. — The Securities and Exchange Commission is continuing its investigation of possible insider trading involving hedge fund Pequot Capital Management and its founder Arthur Samberg, according to a letter to investors obtained by The Wall Street Journal. Gordon’s back stiff following ugly accident at Watkins GlenCHARLOTTE, N.C. — Four-time NASCAR champion Jeff Gordon has a stiff back a day after a spectacular accident at Watkins Glen. Rochdale Securities analyst weighs in on banks; sector sees steep lossesCHARLOTTE, N.C. — Bank stocks slid Tuesday after a Rochdale Securities analyst weighed in on the sector, saying the stocks were running on “fumes” and not reality in their recent run-up. CIT Group delays filing second-quarter report amid restructuring effortsCHARLOTTE, N.C. — Shares of CIT Group Inc. plummeted nearly 20 percent in premarket trading Tuesday, as the commercial lender delayed filing its quarterly report because of ongoing restructuring efforts as it tries to avoid bankruptcy, according to a regulatory filing. Judge says needs names, more details before signing off on $33M BofA bonus settlement with SECNEW YORK — A federal judge said Monday he needs more information before he can decide whether to approve a $33 million settlement between Bank of America Corp. and the Securities and Exchange Commission over executive bonuses. Bank of America’s second-quarter profit heavily boosted by foreign operationsCHARLOTTE, N.C. —Bank of America Corp.’s reported that its better than expected second-quarter profit was boosted by the bank’s foreign operations. Exchange operators Nasdaq, BATS to voluntarily eliminate flash order offering Sept. 1CHARLOTTE, N.C. — The operators of the Nasdaq and BATS stock exchanges said Thursday they will stop a practice that gives some brokerages a split-second advantage in buying or selling stocks. Allstate posts 2nd-qtr profit even as catastrophe losses surge 17 pct, investment income fallsCHARLOTTE, N.C. — Surging catastrophe losses weighed heavily on Allstate Corp.’s earnings Wednesday, but the insurer still turned a profit in the second quarter. Duke Energy’s 2Q profit down 21 percent on falling demand from industrial customersCOLUMBUS, Ohio — Power company Duke Energy said Tuesday that its second-quarter earnings fell as demand for power from industrial customers continues to slide because of the recession. Former Citi CFO Krawcheck to run BofA’s investment operations; bank makes other exec movesCHARLOTTE, N.C. — Bank of America Corp. shuffled some of its top executives Monday and said some of the managers might be in a position to succeed CEO Ken Lewis. Former MetLife CEO Benmosche expected to take on CEO role at insurer AIG, WSJ reportsAmerican International Group Inc. is expected to name Robert Benmosche as its new CEO, The Wall Street Journal reported Monday. Investors cautiously optimistic this week with steady market rise behind themCHARLOTTE, N.C. — After soaring on upbeat corporate earnings and forecasts, Wall Street might be able to stay positive even as there are signs that the economy is still struggling. Travelers 2nd-quarter profit declines as it sees lower investment income, underwriting profitCommercial and personal property insurer Travelers Cos. said Thursday that lower investment income and underwriting profit drove its second-quarter earnings down 21 percent. Bank of America spokesman says bank could evenutally shrink total number of branches by 10 pctCHARLOTTE, N.C. — Bank of America Corp. could eventually shrink its 6,100-branch network by about 10 percent as consumers utilize other methods of banking, a company spokesman said Tuesday. Bank of America CEO Lewis reportedly says bank to shrink total number of branches by 10 pctCHARLOTTE, N.C. — Bank of America Corp.’s CEO Ken Lewis said he is planning to shrink the bank’s 6,100-branch network by about 10 percent, The Wall Street Journal reported Tuesday. Duke Energy seeks to increase SC rates by an average 9.3 percent for residential customersCHARLOTTE, N.C. — Duke Energy said Monday that it will ask South Carolina regulators to boost rates by an average 9.3 percent for residential customers to help recover costs for pollution control equipment, new generation and transmission and distribution systems. |
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