Bank of america Stories
Wall Street set for higher open after jobs data
U.S. stocks were set to open higher on Thursday as a sharp fall in the number of U.S. workers filing new claims for jobless benefits spurred optimism about the labor market and the pace of an economic recovery.
Futures up; jobless claims data, earnings on tap
U.S. stock index futures rose on Thursday with investors eyeing a government report on weekly jobless claims and corporate earnings, one day after Wall Street ended a four-day rally.
Futures edge up ahead of jobless data
U.S. stock index futures edged slightly higher on Thursday with investors eyeing a government report on weekly jobless claims and more corporate earnings, one day after Wall Street ended a four-day rally,
Judge won't approve Bank of America, SEC settlement
A U.S. federal judge has refused to approve Monday's settlement between the U.S. Securities and Exchange Commission and Bank of America Corp related to the acquisition of Merrill Lynch & Co.
SEC plans more subpoena power, enforcement units
The U.S. Securities and Exchange Commission plans to issue more subpoenas and give people more incentives to cooperate with investigations as it works to tighten oversight of financial markets.
JP Morgan appoints new vice chairman in China
Gong Fangxiong, chief economist for the Greater China region and head of the China Research Department at JPMorgan Chase Co., has been appointed as deputy chairman of the JP Morgan Chase's China investment bank, according to local media Caijing.
Factory data and Ford sales help stocks extend rally
Stocks rose on Monday, pushing the S&P 500 index above 1,000 for the first time in nine months, as data on the manufacturing sector underscored optimism that the economy was recovering.
Wall St rises on manufacturing data, Ford sales
U.S. stocks climbed on Monday after data showed the hard-hit manufacturing sector edged closer to growth in July, pushing the S&P 500 above 1,000 for the first time in nine months.
BofA to pay $33 million to settle charges over bonuses
Bank of America Corp has agreed to pay $33 million to settle charges that it made false and misleading statements to investors about bonuses at Merrill Lynch & Co, the U.S. Securities and Exchange Commission said on Monday.
Mid-Day Minute - August 3
BofA Charged, Google CEO, Apple Split, Ford's Fortune
SEC charges BofA over false statements in Merrill buy
Bank of America Corp was charged by the SEC on Monday with making materially false and misleading statements in the Merrill Lynch acquisition, court documents said.
CORPORATE ASIA SNAPSHOT-Markets up, earnings solid
Asian corporate earnings have shown signs of improvement, stock markets have rallied hard and fund raising activity has picked up, but the tone from company executives remains cautious.
Bharti and MTN extend M&A talks
India's Bharti Airtel and South Africa's MTN Group extended talks to combine their operations to create the world's third-largest mobile operator and analysts said Bharti might need to sweeten its offer to clinch the deal.
Bank of America board loses three more members
Bank of America Corp said on Friday three directors had resigned, the latest in a series of departures at the bank at a time when it is shaking up its board at the behest of the government.
Bank of America loses another 3 directors
Bank of America said on Friday that three more directors have decided to leave its board bringing the number of exits this year to 10.
Daily Wrap Up July 31 – Finance
Three more directors have decided to leave the Bank of America board bringing the number of exits this year to 12. According to reports from the Wall street Journal, their decision to leave is not due to any disagreement with the Banking group nor its management.
Some U.S. bank pay unmoored from performance: Cuomo
Bonuses paid to executives at nine banks that received U.S. government bailout money in 2008 were greater than net income at some of the banks, the office of New York Attorney General Andrew Cuomo said on Thursday.
Some U.S. bank pay 'unmoored' from performance: Cuomo
Bonuses paid to executives at nine banks that received U.S. government bailout money in 2008 were greater than net income at some of the banks, the office of New York Attorney General Andrew Cuomo said on Thursday.
Bank of America plans China subsidiary: sources
Bank of America Corp plans to set up a wholly owned subsidiary in China to expand in the world's fastest-growing major economy, people briefed on the plan said.
Bank of America CEO: Problems? Yes, we know
Bank of America Corp Chief Executive Kenneth Lewis downplayed growing concern that banks are indifferent to providing needed credit to get the economy moving again, while maintaining that vitriol over the industry's responsibility for the recession is overdone.
Some banks paid bonuses bigger than income: Cuomo
Bonuses paid to executives at nine banks that received U.S. government bailout money in 2008 were greater than net income at some of the banks, the office of New York Attorney General Andrew Cuomo said on Thursday.
Some U.S. banks '08 bonuses more than income: Cuomo
Bonuses paid to executives at nine banks who received U.S. government bailout money in 2008 were in some cases greater than net income, the office of New York Attorney General Andrew Cuomo said on Thursday.
PennyMac, run by ex-Countrywide execs, prices IPO
PennyMac Mortgage Investment Trust, which buys distressed home loans and is run by several former Countrywide Financial Corp executives, on Wednesday raised $320 million from an initial public offering, $80 million less than planned.
Santander ups loan provisions, at 10 bln euros '09
Spain's biggest bank Santander followed the trend for extra bad loan provisions against the continuing economic slump, lifting its bad debt cushion in the first half and warning the setaside could hit 10 billion euros by end-2009.
Santander plans 2.6 bln stg IPO of Brazil unit-FT
Spain's Banco Santander has appointed advisers to spin off its Brazilian business in a 2.6 billion-pound ($4.3 billion) initial public offering to create one of Brazil's largest banks, the Financial Times reported.
Daily News Wrap Up - July 28
Incentive pay under fire, Energy markets pressured, Home prices look up
Daily Wrap Up July 28 – Finance
A House panel on Tuesday voted on a legislation banning corporate pay practices and will impose restrictions on the pay of top executives and give shareholders a vote on executive compensation that encourages financial companies to take inappropriate risks. The bill, which is opposed by Republicans, was approved in a 40-28 party-line vote.
Phibro mum after White House slams reported $100 million payday
Phibro LLC, the energy trading arm of beleaguered bank Citigroup , was mum Tuesday after the White House criticized a reported $100 million pay plan for its top trader Andrew Hall as out of whack.
Mid-Day Minute - July 28
Consumer confidence drops, US home prices rising, Bank of America to cut branches
Bank of America to close some branches
Bank of America Corp said it plans to shrink its 6,109-branch U.S. network modestly over the next three to five years, an about-face for the nation's largest bank by assets after years of expansion.