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Bank of America Corp

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  • *Investors believe HSBC bosses need to announce bold moves. LONDON, June 2- No longer feared as "too big to fail", shareholders are weighing whether HSBC is now "too big to succeed", and want to know next week how the bank's bosses propose to increase profitability at a sprawling group beset by huge costs. "This investor day is potentially a very significant event," said...

  • WASHINGTON, June 1- Two units of Bank of America's brokerage arm Merrill Lynch agreed to pay $11 million and admitted they violated certain federal rules by using inaccurate data for short sale orders, U.S. regulators said on Monday. The SEC said that some of the stock Merrill placed on the list later became no longer easily available for borrowing.

  • June 1- Bank of America Corp has hired Brad Hutchinson from Barclays Plc to co-head its Americas energy investment banking business alongside Oscar Brown, according to an internal memo seen by Reuters. Brown and Hutchinson worked together for over a decade at Lehman Brothers Holdings Inc and Barclays before Brown moved to Bank of America in 2010..

  • WASHINGTON, June 1- The U.S. Supreme Court on Monday handed a win to Bank of America Corp by ruling that a second mortgage on an "underwater" home- one with a mortgage balance exceeding its current value- cannot by voided during bankruptcy. But Bank of America, which is the second mortgage holder in both cases, argued in court papers that the approach taken by the 11th...

  • WASHINGTON— A unanimous Supreme Court ruled Monday that homeowners who declare bankruptcy can't void a second mortgage even if the home isn't worth what they owe on the primary mortgage. Both cases involved property owners who were allowed by lower courts to nullify second loans held by Bank of America. The Atlanta- based 11th U.S. Circuit Court of Appeals...

  • WASHINGTON— Bank of America has been fined $30 million for violating consumer protections when collecting debts from military customers. The OCC says Bank of America has started taking steps to correct the problems and "is committed to taking all necessary and appropriate steps" to do so. Bank of America Corp., based in Charlotte, North Carolina, said it will...

  • May 29- Bank of America Corp agreed with U.S. regulators to improve its compliance practices and pay a fine for violations in lending rules toward military personnel. The Office of the Comptroller of the Currency asked the No. 2 U.S. bank by assets to pay a penalty of $30 million due to non-home loan compliance with the Servicemembers Civil Relief Act and unsafe...

  • We are in the middle of a currency war: Strategist Friday, 29 May 2015 | 1:39 PM ET
    A woman walks past an exchange office in Moscow.

    BofA Merrill Lynch's David Woo said that we are currently in the middle of a currency war in which the Fed is unable to play.

  • *Broadcom, Avago shares slip after big rise on Wednesday. May 28- Avago Technologies Ltd agreed on Thursday to buy Broadcom Corp for $37 billion in the largest merger of chipmakers ever, turning a lesser known company run by a ferocious dealmaker into one of the biggest industry players. Avago, which serves the wireless and industrial markets, is offering Broadcom...

  • JPMorgan expected to cut more than 5K jobs: Report Thursday, 28 May 2015 | 3:47 PM ET
    A pedestrian walks past the JPMorgan Chase headquarters building in New York.

    The JPMorgan Chase layoffs come as the bank has moved to put more of an emphasis on technology and rely less on human tellers.

  • The banks and brands sweating on FIFA probe Thursday, 28 May 2015 | 1:41 PM ET
    Pablo Barrientos of San Lorenzo tackles Mario Bilen of Auckland City during the FIFA Club World Cup Semi Final match between CA San Lorenzo and Auckland City FC at Marrakech Stadium on December 17, 2014 in Marrakech, Morocco.

    The finer details of Wednesday's indictment against FIFA officials appears to implicate one U.S. household name in particular.

  • *Broadcom, Avago shares slip after big rise on Wednesday. May 28- Avago Technologies Ltd agreed to buy Broadcom Corp for $37 billion in the biggest chip industry deal ever, creating a company that will be able to supply chips used in everything from iPhones to servers used in data centers. Avago, a maker of chips for the wireless and industrial markets, is offering...

  • May 28- Top U.S. solar installer SolarCity Corp on Thursday said it has partnered with Bank of America on a $200 million fund that will enable smaller investors such as regional banks to finance the company's residential solar systems. The move is aimed at bringing new capital into the fast-growing rooftop solar industry and ultimately reducing the cost of...

  • NEW YORK, May 27- JPMorgan Chase& Co officials have not done enough to show how well the company is run, Chairman and CEO Jamie Dimon said on Wednesday, after one-third of shareholders disapproved last week of his pay and the practice of one person holding his two jobs. At the company's annual meeting last week in Detroit, JPMorgan's compensation for top executives...

  • *Forecasts Q2 rev $270 mln- $274 mln vs est $272.4 mln. May 26 (Reuters)- Human resource software company Workday Inc forecast current-quarter billings below market expectations and reported a bigger quarterly net loss due to higher spending on marketing and product development. That number fell below market research firm FactSet StreetAccount's estimate of...

  • May 26- Workday Inc's quarterly net loss widened by 3.6 percent as the human resource software company spent more on marketing and product development. The company, whose rivals include SAP SE and Oracle Corp, said net loss widened to $61.6 million, or 33 cents per share in the first quarter ended April 30, from $59.4 million, or 32 cents per share, a year earlier.

  • Opening statements are expected to begin on Tuesday in Manhattan state court in the criminal case against former Dewey& LeBoeuf chairman Steven Davis, 62; ex-executive director Stephen DiCarmine, 58; and ex-chief financial official Joel Sanders, 57.. Prosecutors from the Manhattan District Attorney's office say the defendants overstated revenue and...

  • Why the Nikkei rally will carry on Monday, 25 May 2015 | 6:57 PM ET

    Japanese stocks seem to be on an irresistible rally, and cheap valuations are expected to propel them to greater heights, analysts say.

  • Kudlow: Yellen’s taking rates back to the 1950s Saturday, 23 May 2015 | 8:52 AM ET
    Federal Reserve Bank Board Chair Janet Yellen.

    Janet Yellen is offering a back-to-the-'50s approach to interest rates, says Larry Kudlow. He thinks she's right, though for many wrong reasons.

  • AXA axes 500 mln euros of coal investments Friday, 22 May 2015 | 11:43 AM ET

    PARIS, May 22- French insurer AXA said on Friday it was cutting its exposure to the coal industry, pulling out of investments worth 500 million euros. Bank of America said earlier this month it was cutting back its lending to the coal industry, while French bank Societe Generale said it was restricting its exposure to the sector. However oil major Royal Dutch...