Banks, Investment | featured news

Banks would be barred from trading for their own profit instead of their clients under a rule being proposed by federal regulators.

Softbank said it will pocket a handsome profit by repaying a $1.135 billion loan from Citibank with most of its 4% stake in Yahoo.

Warren Buffett is coming to the rescue of another fallen giant. Buffett's Berkshire Hathaway Inc. announced Thursday that it would invest $5 billion in Bank of America Corp., giving a much-needed vote of confidence to the beleaguered bank. The news sent the bank's stock soaring 9 percent.

It's 12 months later and Warren Buffett's Berkshire Hathaway is $3 billion richer. One year ago today, on September 23, 2008, with the financial world still reeling from the collapse of Lehman Brothers just days before, Buffett stunned Wall Street with a massive vote of confidence for Goldman Sachs.