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Bank of America Corp

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  • 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...

  • 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...

  • LONDON, May 22- Twenty of the world's biggest banks have paid more than $235 billion in fines and compensation in the last seven years for a litany of misdeeds that has scarred the industry and is delaying its rehabilitation. The scale of the payouts, equivalent to the annual economy of Greece or Portugal, has hampered banks' efforts to rebuild capital, reduced...

  • Is the BOJ cornered? Thursday, 21 May 2015 | 7:38 PM ET

    The Bank of Japan may be intent on keeping its easy monetary policy, but it could run out of bonds to buy, and be forced into tapering next year.

  • Banks give Chicago breathing room to convert bonds Thursday, 21 May 2015 | 11:52 AM ET
    Skyline of Chicago

    The forbearance agreements between Chicago and the banks will allow the city to convert the variable-rate debt into fixed-rate bonds.

  • *Barclays fined $2.4 bln, fires 8 employees. Citi, Barclays, JP Morgan and RBS plead guilty. Citigroup Inc, JPMorgan Chase& Co, Barclays Plc, UBS AG and Royal Bank of Scotland Plc were accused by U.S. and UK officials of brazenly cheating clients to boost their own profits using invitation-only chat rooms and coded language to coordinate their trades.

  • Traders work on the floor of the New York Stock Exchange.

    U.S. stocks closed narrowly mixed as the Fed minutes mostly confirmed market expectations for a rate hike in the second half of the year.

  • Beware of bond bubble forming in ETFs Wednesday, 20 May 2015 | 2:08 PM ET
    Traders work on the floor of the New York Stock Exchange.

    Should you invest in fixed income when corporations are all too eagerly selling new bonds in staggeringly large amounts? Likely not.

  • Big banks plead guilty, fined $5.7B on rate rigging Wednesday, 20 May 2015 | 1:33 PM ET
    Barclays Capital office building in New York.

    Five of the world's largest banks were fined, and four pleaded guilty to U.S. criminal charges over foreign exchange manipulation.

  • In FX rigging: "If you ain't cheating, you ain't trying" Wednesday, 20 May 2015 | 1:07 PM ET

    LONDON, May 20- Foreign exchange traders clubbed together in a brazen "heads I win, tails you lose" strategy to rip off customers as they rigged the $5 trillion- per-day currency market, British and U.S. authorities said on Wednesday. A Barclays employee was quoted as saying in 2010: "markup is making sure you make the right decision on price... which is whats the worst...

  • May 20- Six big banks agreed to pay $5.7 billion to U.S. and UK authorities on Wednesday over allegations they rigged currency markets, taking the industry's bill for the scandal to more than $10 billion. JPMorgan, Citigroup, UBS, Barclays and RBS agreed settlements with the U.S. Department of Justice. Barclays was also slapped with fines from other UK and U.S....

  • NEW YORK, May 20- Five of the world's largest banks, including JPMorgan Chase& Co and Citigroup Inc, were fined roughly $5.7 billion, and four of them pleaded guilty to U.S. criminal charges over manipulation of foreign exchange rates, authorities said on Wednesday. British banks Barclays Plc will pay $650 million in criminal penalties and Royal Bank of Scotland...

  • *Barclays fined $2.4 bln, fires 8 employees. *Citi, Barclays, JP Morgan and RBS plead guilty. Traders at Citigroup, JP Morgan, Barclays and Royal Bank of Scotland, who described themselves as "The Cartel", used an invitation-only electronic chatroom and coded language to manipulate the price of U.S. dollars and euros between December 2007 and January 2013, according to...

  • LONDON, May 20- Swiss bank UBS said it has settled a probe by U.S. authorities over alleged rigging of currency markets and will pay $342 million to the Federal Reserve. UBS said it would also pay a $203 million penalty and plead guilty to criminal charge with the U.S. Department of Justice, but that relates to manipulation of Libor benchmark interest rates.

  • SEATTLE, May 20- Microsoft's plan to make its new version of Windows a mobile hit by letting it accept tweaked Apple and Android apps has met an obstacle: some of the software developers the company needs to woo just aren't interested. Windows phones accounted for just 3 percent of global smartphone sales last year, compared with about 81 percent for devices with...

  • $34 at a time, banks racked up $2.5B in overdrafts Tuesday, 19 May 2015 | 4:23 PM ET
    A customer at a Wells Fargo branch in New York.

    Three of the largest U.S. banks alone collected in the first quarter more than $1.1 billion related to overdrafts.

  • In the first, Forrest rejected an attempt by funds from BlackRock Inc, Allianz SE's Pacific Investment Management Co and TIAA-CREF to hold US Bancorp liable for alleged defects in 843 RMBS trusts collateralized by $778.6 billion of loans, causing tens of billions of dollars of losses. Separately, Forrest said the National Credit Union Administration lacked...