Bank of American Corp. (BAC), which is getting $15 billion from the U.S. government as part of the Treasury Department’s $250 billion “recapitalization” effort, is doubling its stake in state-owned China Construction Bank Corp., and will hold a 20% stake worth $24 billion in China’s second-largest lender when that deal is finalized.

Struggling U.S. financials Citigroup Inc. (C) and Merrill Lynch & Co. Inc. (MER) may get another equity injection from state-owned Kuwait Investment Authority (KIA), the fund’s managing director told Reuters.

Gold took it on the chin after holding near $880 in the far East, falling in London and through most of the New York session on Thursday, before finally finding a bottom at $850 and trading sideways for the afternoon hours, finishing at $851.90, down $24.70. Overnight, gold has been flat.