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Bank of America Makes a $4 Billion Mistake and Twitter User Growth Slows

Bank of America Corporation (NYSE: BAC) has made a significant error in the way the company calculates a crucial measure of its financial health. The error has gone undetected for years and had the company reporting $4 billion more capital than it actually had. The Federal Reserve has required the bank to suspend a share buyback and its planned increase in its quarterly dividend. Bank of America's first-quarter earnings release said that it had $134 billion of common equity Tier 1 capital, a closely monitored measurement. After discovering the error, that number fell to $130 billion.

Twitter Buys Gnip and Hires Former Google Director while Bank of America Reports $276M Q1 Loss

Twitter, Inc. (NYSE: TWTR) has agreed to acquire data partner Gnip, in a deal that did not disclose any financial terms. Gnip has access to Twitter’s full stream of tweets since 2006. The company analyzes this information and sells it, primarily to businesses that are interested in how consumers view them. Twitter now averages roughly 500 million tweets a day. The company also announced that it has hired Daniel Graf, who was most recently a director at Google and oversaw Google Maps since 2012. Twitter, Inc. is a global platform for public self-expression and conversation in real time.

BlackBerry CEO Says Exiting Handsets is Possible if Not Profitable and Bank of America Reaches $783M Agreement to Pay Back Customers

BlackBerry Limited (NASDAQ: BBRY) is not saying no to the possibility of exiting its handset business if it remains unprofitable. The company’s chief executive officer confirmed this as the company looks to expand its corporate reach with investments, acquisitions and partnerships. "If I cannot make money on handsets, I will not be in the handset business," John Chen said in an interview. At its peak, the company shipped 52.3 million devices in fiscal 2011. The company recorded revenue on less than 2 million last quarter. BlackBerry Limited provides wireless communications solutions

Amazon Launches Android Based Set Top Box and Bank of America Close to Settlement with U.S. Consumer Financial Protection Bureau

Amazon.com Inc. (NASDAQ: AMZN) has released an Android-based Internet video-streaming set-top box named Fire TV. Fire TV is a small flat black box and is available for sale immediately in the U.S. for $99. The device also has a Bluetooth-enabled remote control. Users can simply speak their choice into the remote to enjoy a program. Amazon.com, Inc. operates as an online retailer in North America and internationally. The company operates in two segments, North America and International. The company serves consumers through retail Websites, such as amazon.com and amazon.ca, which primarily

Citigroup Fails the Fed’s Stress Test and CBS Outdoor Americas Makes Solid Debut on the NYSE

Citigroup Inc. (NYSE: C) shares fell this week after the Federal Reserve rejected the plans of Citigroup and four other banks to raise dividend payments and increase stock buybacks. The Fed said the company’s management practices or capital cushions are not robust enough to withstand a severe economic downturn. Twenty five other banks including Bank of America and Goldman Sachs took part in the Fed’s annual stress test and passed for their planned dividend payouts and share repurchases. Citigroup, among others including HSBC North America Holdings and Santandar Holdings USA all were

Rumors say Amazon Will Launch a Free Video Streaming Service and Former Bank of America Chief Executive Banned

Amazon.com Inc. (NASDAQ: AMZN) is reported to be launching a free video streaming service. According to a report from the Wall Street Journal  the e-commerce giant will be launching a free, ad-supported service that'll allow its customers to stream television shows and music videos for free. It will be ad-supported however. The new service apparently will not require a Prime subscription and will offer original and licensed programming free of charge. The company declined to

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