News Summary (BAC, AIB, BP, AAPL, GOOG, CSCO)

Bank of America BAC has gained top ranking in the world, based on tier-1 capital, toppling JPMorgan Chase JPM. In terms of profit talking, Industrial and Commercial Bank of China was the world’s best. Meanwhile, Anglo Irish Bank AIB posted the biggest loss of $18.5 billion. GMAC and Citi C fared marginally better than AIB. After JP Morgan speculated on the merger and acquisition option for BP PLC BP in its note yesterday, shares of BP jumped as high as 8% in London trading. In regular trading hour, BP continues to ride high on speculation interest. Mirroring a move by Apple AAPL, Cisco CSCO announced its intention of selling its own tablet-style computer. CSCO has named the tablet Cius, which will run on Android GOOG and will target business customers. This is in contrast to AAPL’s iPad, which has become a hit among consumers. Read more from Benzinga's Markets.