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Bank of America Corp

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  • LONDON, July 28- Goldman Sachs has inflamed further an already heated argument between analysts over the outlook for the copper market. The Wall Street heavyweight has positioned itself as a super bear, slashing its short, medium and long-term forecasts by as much as 44 percent in the case of 2018. Cash copper, currently trading around $5,200 per tonne, will fall...

  • MANILA, July 28- Gold languished near its weakest level since early 2010 on Tuesday, with no meaningful recovery seen as expectations for a U.S. interest rate increase grow. *Amid weaker gold prices, holdings of the world's biggest gold-backed exchange-traded fund, the SPDR Gold Trust, fell for a seventh day on Friday to 21.87 million ounces, the lowest since...

  • Google, Apple, Goldman Sachs and 10 other well-known companies joined the White House in launching the American Business Act on Climate Pledge, a campaign that the White House said would inject $140 billion in low-carbon investments into the global economy. Mindy Lubber, president of environmental investor group Ceres, applauded the announcements but said...

  • NEW YORK, July 27- UBS AG's Wealth Management Americas business on Monday said its second-quarter adjusted profits fell as higher litigation and regulatory costs put pressure on the Swiss bank's brokerage division. UBS Wealth Management Americas, which includes what was formerly known as PaineWebber Group, said adjusted pre-tax profit fell to $231 million...

  • A look at the largest companies in the S&P 500 Friday, 24 Jul 2015 | 7:08 PM ET

    Amazon surpassed the world's largest retailer, Wal-Mart Stores Inc., in market value Friday, on the back of a strong earnings report. Amazon shares closed up nearly 10 percent, giving the Seattle company a market value of $247.77 billion, versus $230.53 billion for Wal-Mart. A company's market value is calculated by multiplying the number of shares of stock it...

  • *Gold prices fall for ninth out of 10 sessions. LONDON, July 24- Gold slid more than 1 percent on Friday to its lowest since early 2010 as fresh strength in the dollar prompted another wave of selling, putting the metal on course for its biggest weekly loss in nine months. Gold has been hurt this year by expectations that the Federal Reserve is on track to raise interest...

  • The State-Boston Retirement System, the pension fund for Boston public employees, accused Bank of America Corp's Merrill Lynch unit, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank, Goldman Sachs Group Inc, HSBC Holdings Plc, JPMorgan Chase& Co, UBS Group AG and 14 other defendants of illegally trying to profit on the sale of Treasury bills, notes and bonds at...

  • Departing BofA CFO Thompson will be missed - analysts Thursday, 23 Jul 2015 | 1:13 PM ET

    July 23- Bank of America Corp's surprise move to replace Chief Financial Officer Bruce Thompson got a less-than-enthusiastic reception from at least two prominent Wall Street analysts. Bank of America didn't explain the reasons behind the overhaul, but it came four months after the second-largest U.S. banks by assets barely passed a Federal Reserve stress...

  • Early movers: GM, CAT, LLY, PHM, FCAU & more Thursday, 23 Jul 2015 | 8:06 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • July 22- Bank of America Corp said on Wednesday it would replace its chief financial officer and its wealth management chief, a week after the bank reported its biggest quarterly profit in nearly four years. CFO Bruce Thompson, 51, will be replaced by Paul Donofrio from Aug 1. The bank also said David Darnell, the head of wealth management, would retire and be...

  • Bank of America CFO steps down in shake-up Wednesday, 22 Jul 2015 | 7:24 PM ET

    NEW YORK— Bank of America's second-in-command is out of a job following a management shake-up announced late Wednesday. Bruce Thompson, Bank of America's chief financial officer for the last five-and-a-half years, will be stepping down, CEO Brian Moynihan announced. Smith will also be responsible for Bank of America Corp. passing the Federal Reserve's...

  • Bank of America CFO Thompson leaving Wednesday, 22 Jul 2015 | 6:35 PM ET
    Bruce R. Thompson, Bank of America

    Paul Donofrio will take over as the bank's chief financial officer on Aug. 1.

  • As Washington tightened sanctions on nearly all trade with Iran in recent years, international banking transfers that most Americans take for granted have become increasingly fraught for the roughly 500,000 U.S.-based Iranian-Americans. "My money is there, but I cannot use it here," said Reza Hedayati, a New York radiologist who has not seen a cent of the...

  • St. Jude to buy rival Thoratec in $3.4B deal Wednesday, 22 Jul 2015 | 8:04 AM ET
    Illustration of St. Jude Medical's LibraXP device

    Heart device maker St. Jude Medical said it would buy smaller rival Thoratec for $3.4 billion.

  • As Washington tightened sanctions on nearly all trade with Iran in recent years, international banking transfers that most Americans take for granted have become increasingly fraught for the roughly 500,000 U.S.-based Iranian-Americans. "My money is there, but I cannot use it here," said Reza Hedayati, a New York radiologist who has not seen a cent of the...

  • *Citi to pay $700 mln in relief to borrowers. July 21- Citigroup Inc's consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said. Citi will also pay civil penalties of $35 million each to the consumer finance watchdog and the Office of the Comptroller of the...

  • Clinton rakes in Wall Street cash amid tough talk Tuesday, 21 Jul 2015 | 12:33 PM ET
    Hillary Clinton speaks to guests at the Iowa Democratic Party's Hall of Fame dinner on July 17, 2015, in Cedar Rapids.

    Already among the top donors to Hillary Clinton's political career, megabank employees have funneled big money into her campaign.

  • HSBC must face U.S. lawsuit over failed credit unions Tuesday, 21 Jul 2015 | 12:30 PM ET

    NEW YORK, July 21- A federal judge rejected HSBC Holdings Plc's bid to dismiss a U.S. lawsuit claiming that its failure to perform its duties as trustee for $2.37 billion of residential mortgage-backed securities contributed to the downfall of five federal credit unions. District Judge Shira Scheindlin in Manhattan on Monday night said the National Credit...

  • NEW YORK— Nine million credit card customers will receive refund checks from Citigroup after U.S. regulators forced the bank to repay $700 million and fined it $70 million for illegal and deceptive practices. Some of the illegal activity by Citi goes back to as early as 2000, the CFPB said, and ended in 2013, and covers a range of products sold by Citi and...

  • Banks back rival to Bloomberg messaging system Tuesday, 21 Jul 2015 | 8:36 AM ET
    Wall Street

    A messaging service for business is being launched by some of the world's biggest banks in a bid to challenge Bloomberg's dominance of the market.