Bank of america Stories
BofA M&A head Kaplan leaving, Baronoff to replace
Bank of America's global head of mergers and acquisitions Jeffrey Kaplan is leaving the bank to join hedge fund Appaloosa Management and will be replaced by Steven Baronoff who chairs that business, according to a memo obtained by Reuters on Monday.
Analysis: Jewellery demand supports gold in investment demand dips
The proportion of total gold demand accounted for by jewelry fell to just over 50 percent in 2009 from 75 percent in 2004. In the same period investment demand nearly tripled. But jewelry buyers still have a key role to play in the gold market, which they are likely to keep despite any slight fall-off in demand.
Glencore in talks with China, Qatar funds: report
Swiss commodities trader Glencore has opened up talks with sovereign wealth funds in China and Qatar to bring in a cornerstone investor ahead of its planned listing on the London Stock Exchange, The Sunday Times reported.
Wells Fargo, BofA expect foreclosure probe fines
Wells Fargo & Co , the largest U.S. mortgage lender, said it is likely to face fines from regulators and other government agencies as a result of a probe into the industry's foreclosure practices.
U.S. foreclosure deal slowed by infighting: sources
U.S. regulators' efforts to settle with banks over improper mortgage foreclosures are being hampered by infighting among the groups involved in the talks, and a settlement may take a while, according to sources familiar with the matter.
Foreclosure deal slowed by infighting: sources
U.S. regulators' efforts to settle with banks over improper mortgage foreclosures are being hampered by infighting among the groups involved in the talks, and a settlement may take a while, according to sources familiar with the matter.
Gold Price Up, Silver Slips with Industrial Metals, as Libya Chaos Drives Oil & Inflation Higher
The Gold Price rose further in London trade Thursday morning, hitting new 2011 highs for Dollar investors as Brent crude oil jumped to $119 per barrel and a raft of economic analysis warned of stagflation ahead for the global economy.
China sees growth risk, not inflation, in oil surge
Soaring oil prices will have little impact on Chinese consumer inflation, but will place considerable cost pressure on the country's manufacturers, a government adviser and ministry official said on Thursday.
BofA's unit violated Utah law in foreclosure actions, says state atty. gen
Utah's attorney general's office said ReconTrust Co., a subsidiary of Bank of America Corp. (BofA), has violated the state's law on foreclosures.
New York chief judge assures legal help to needy homeowners who are facing foreclosure actions
New York's chief judge has taken steps to provide homeowners facing foreclosure legal representation free of charge.
Analysis: Glimmer of G20 hope as China adjustment takes shape
It's too early to be sure, but signs that China's current account surplus will keep shrinking as a share of national output could draw some of the venom from the debate on global economic imbalances preoccupying the G20.
Anonymous, HBGary, US security firms cross swords in the name of WikiLeaks
Anonymous, the hacker collective known for its attacks on WikiLeaks detractors, has crossed swords with HBGary and other security firms in retaliation to the HBGary Federal CEO Aaron Barr's earlier threat.
BofA Merill hires top guns to represent its legal interests
Bank of America (BofA) has selected a battery of top-end law firms to represent their legal interests but being on the legal panel comes at a price.
China inflation data adds to tightening case
Chinese inflation hit a lower-than-forecast 4.9 percent in January, but price pressures excluding food were their strongest in at least a decade and will force the central bank to keep tightening monetary policy.
Paulson jumps into energy producers, loyal to gold
John Paulson, whose firm now oversees roughly $36 billion, again counted SPDR Gold Trust (GLD.P), AngloGold Ashanti (ANGJ.J), Citigroup (C.N) and Bank of America (BAC.N) as his top four holdings.
White House backs standard for mortgage servicers
The Obama administration favors creating a national standard for mortgage servicers such as Bank of America Corp and JPMorgan Chase & Co that have been accused of botching home foreclosure procedures.
Steve Jobs seen on Apple’s campus, “looking good”: report
The San Francisco Chronicle reported last night that Steve Jobs, the chief executive of Apple Inc. (Nasdaq: AAPL) who recently vacated his job for a medical leave, was seen on the company’s campus recently and was “looking good.”
Dow posts eighth day of gains
Investors took profits on recent gains in U.S. stocks on Wednesday, but a last-minute rise in Bank of America helped lift the Dow to its eighth straight day of gains.
Rising Gold Beaten by Silver Prices Again as Wheat Jumps, Bond Investors Fear Inflation
Gold rose back towards yesterday's 3-week peaks in London on Wednesday, pushing higher against all major currencies as world stock markets slipped.
Banks to Get Green Light on Dividend Hike (BK, COF, JPM, PNC, STT, USB, WFC)
RBC Capital Markets said banks with strongest capital and increased profitability are expected to get green light on dividends. The Federal Reserve is expected to approve dividend increases.
China Raises Interest Rates, Very Loose Policy Risks Exponential Food Inflation
This is a world obsessed with demand...[and] many central banks' policy settings are very, very loose...making for serious inflationary pressures, UBS said. The outlook for food prices is that they could rise exponentially from here if we were to see another shock. There's no buffer right now.
Regulators seek to foil bank moves to undermine pay reform
Regulators began their most forceful attempt yet to clamp down on bank bonuses since the 2007-2009 financial crisis, and warned firms they would seek to counter attempts to circumvent the reforms.
Regulators set to curb bank bonuses, part of global move
Regulators on Monday are expected to make their most forceful attempt yet to clamp down bank bonuses since the 2007-2009 financial crisis, but the proposals pale in comparison to harsher restrictions already set in Europe.
California settles predatory lending lawsuit against former Countrywide executives for $6.5 mln
The state of California has agreed to settle a predatory lending lawsuit which it has filed against two former Countrywide Financial Corp. executives for $6.5 million.
Pre-market movers on Feb. 7 (BMY, CHK, S, VLO, BAC, AET, VZ, W, NVDA, GLW)
The companies whose shares are moving in pre-market trade on Monday are: Bristol Myers Squibb, Chesapeake Energy, Sprint Nextel, Valero Energy, Bank of America, Aetna, Verizon Communications, Weyerhaeuser, Nvidia and Corning.
U.S. to force Wall Street to defer half of bonuses
U.S. regulators will propose on Monday that executives at the largest financial institutions have half of their bonuses deferred for at least three years as part of efforts to curb excessive risk taking, according to two people familiar with proposal.
BofA to pay $410 million to settle overdraft lawsuit
Bank of America Corp has agreed to pay $410 million to settle lawsuits accusing it of charging customers with excessive overdraft fees, court documents show.
JPMorgan to launch new fund specializing in distressed real estate
New JPMorgan fund will buy distressed real estate debt, even though many critics believe that the firm itself is, in part, responsible for much of the distressed real estate in the U.S.
BofA sued again for not disclosing mortgage troubles to investors
Workers union sues Bank of America and its Countrywide unit for not disclosing mortgage crisis sooner
Proposed class action targets BofA on foreclosures
Bank of America Corp was hit with a lawsuit on Wednesday claiming the lending giant hid foreclosure problems that eventually led to a decline in its share price.