Bank of America Corp. led decliners in the Dow Jones Industrial Average after reporting profit dropped 63 percent, hurt by shrinking revenue and more costs from cleaning up bad mortgages.
The SEC says traders at Goldman Sachs netted a 2,000% profit off a bet placed before the takeover of Heinz Co. was announced. The Commission also says those traders must appear in court to explain their good fortune.
Banks and thrifts earned $34.7 billion in the fourth quarter to close out 2012 with the second biggest full-year profit ever, the Federal Deposit Insurance Corp. said Tuesday.
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