All Entries Tagged With: "Bank of America"
Bank of America report $2.2 billion net loss for 2009
America’s biggest financial Bank, the Bank of America (BoA) has made a $2.2 billion net loss for 2009 after counting the cost of repaying a $45 billion bailout to the US Government.
Bank of America’s Merrill Lynch Deal: Public Hearing Set
A new date for a public hearing has been set by a congressional committee investigating Bank of America’s (NYSE:BAC) purchase of Merrill Lynch.
Bank of America Extends CEO Search to New York
Bank of America Corp (NYSE:SZE) have decided to broadened its search for a chief executive officer (CEO) to include candidates who want to live in New York.
Bank of America: Robert Kelly shows no interest in CEO job
The Wall Street Journal reports that Robert Kelly the Bank of New York Mellon Corp Chief Executive had been approached about the job for Bank of America (NYSE:BAC) as their CEO, however he has shown no interest.
Bank of America Corp completes stock sale, raises $13.5 billion
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The Bank of America Corp. (NYSE:BAC) has said that it has now completed a sale of stock, raising $13.5 billion in capital. This was all part of a fund raising scheme which was requested by the government. The banks sold 1.25 billion shares, which had an average price of $10.77.
Bank of America Corp sells 5.8 percent stake in CCB
Bank of America Corp (NYSE:BAC) has come under a great deal of pressure from U.S. regulators, they need to raise money so have sold a 5.8 percent stake in China Construction Bank Corp. this totaled $7.3 billion.
Feds Agree: Bank of America to buy Merrill Lynch
Bank of America (NYSE:BAC) had the Federal Reserve’s approval to acquire Merrill Lynch (NYSE:MER) today (November 26). Back in September the Bank of America announced that it would buy the Wall Street bank for $44 billion at a time when Lehman Brothers faced collapse, investors fled and fears grew over the survival of Merrill Lynch.
The [...]
Bank of America doubles its stake in China Construction Bank Corp
Bank of America Corp (NYSE:BAC) is doubling its stake in China Construction Bank Corp (SHA:601939) investing another $7 billion into the bank, this comes as the Bank of America receives government bailout funds and makes job cuts.
Bank of America who is the largest bank by market value will own 19.13 percent stake in china Construction [...]
Bank of America (NSYE:BAC) and Countrywide debt
Bank of America Corp (NYSE:BAC) who back in July acquired Countrywide Financial Corp agreed to assume $16.6 billion of debt and guarantees of the bank it said in Monday.
At the end of April this year Bank of America the North Carolina-based bank was looking at all options for the Countrywide debt, which is estimated at [...]
Prime lending rate cut by Bank of America
The Bank of America Corp was the first to lower its prime lending rate on Wednesday from 4.5 percent down to 4 percent.
The cut in the Bank of America prime rate follows the half a percent cut by the Federal Reserve Board yesterday who announced they were cutting the Official interest rate to boost
Bank of America & JP Morgan rise as other banks fall
On Friday the shares in Bank of America Corp, JPMorgan Chase & Co rose up as other banks Morgan Stanley and Goldman Sachs Group declined. Bank of America closes up on Friday more than 6 percent at $20.87 and JPMorgan up 13 percent at $14.64. Citigroup who pulled out of a deal with Wachovia on [...]
Bank of America helps Countrywide Financial Corp with a billion dollar rescue plan
Bank of America who own Countrywide Financial Corp will today announce a program to help upto 125,000 Californian homeowners who are struggling with risky mortgages from Countrywide.
The deal will save mortgage holders billions of dollars, and will be the nation’s largest
Bank of America online banking down: customers unable to log in
Bank of America Online Banking system is down, reports say that customers have been trying to log into their account and they just receive an error
Bank of America: will spend $2 billion on restructuring Merrill Lynch & Co
On Monday, Bank of America Corporate Executive Kenneth Lewis said that it would have taken 10 years to build a bank like Merrill Lynch & co, but would also
Merrill Lynch sold to Bank of America
Merrill Lynch, has been brought out by Bank of America, the Wall Street Investment Bank have managed to secure its future in a $44 billion deal. Whilst, Merrill Lynch’s