Bank Of America

  • Bank of America to cut 3,000 mortgage jobs 25-10-2013 07:13 AM

    Washington: Bank of America will cut roughly 3,000 jobs by the end of the year as the number of refinancing applications and troubled loans has fallen. It is part of larger industry pull back in response to the changing housing market. The second largest US bank laid off 1,200 employees...
  • Drop in Apple shares, weak profits drag Wall Street lower 18-04-2013 04:23 AM

    New York: US stocks fell in a broad market selloff on Wednesday, led by a sharp drop in Apple shares on worries about slowing demand for its products and weaker-than-expected results from Bank of America that battered the financial sector. Apple Inc slid 5.5 per cent to $402.80 after falling...
  • S&P cuts ratings for big global banks 30-11-2011 09:53 AM

    New York: Standard & Poor's reduced its credit ratings on 15 big banking companies, mostly in the Europe and the United States, on Tuesday as the result of a sweeping overhaul of its ratings criteria. JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Goldman...
  • Global giants plan job cuts to save costs 31-10-2011 03:07 PM

    New York: As companies battle the economic slowdown, the employees at large companies in the US and Europe seem to be facing the axe in a major way. More than 1,35,000 job cuts have been announced by just about a dozen multi-national companies in past few months in their efforts...
  • Embattled Bank of America to slash 30,000 jobs 13-09-2011 09:06 AM

    Washington: Bank of America said on Monday that it will cut about 30,000 jobs over the next few years to slash costs, Xinhua reported. The job reduction is part of 'Project New BAC', a broad restructuring plan that started in January 2010, the bank said in a statement, adding that...
  • Warren Buffett to invest $5 bn in Bank of America 26-08-2011 01:47 AM

    New York: Warren Buffett will invest $5 billion in Bank of Americas Corp, stepping in to shore up the largest US bank in the same way he helped prop up Goldman Sachs and General Electric during the financial crisis. Bank of America shares rose nearly 26 per cent at one...
  • Affluent women worry about outliving money 01-02-2011 11:41 AM

    New York: Affluent women expect to be more active than their male counterparts in retirement, but they are also more worried about outliving their money, according to a Bank of America Merrill Lynch study. The vast majority of affluent baby boomers, the more than 75 million Americans born from 1946...
  • LinkedIn files for IPO; Big year for Web cos 28-01-2011 11:21 AM

    New York: In what could signal a big year of Internet initial public offerings, social networking website LinkedIn Corp announced plans on Thursday to float shares to the public. The number of shares to be offered and the price range for the offering have not yet been determined, according to...
  • Bank of America WikiLeaks' next target? 23-12-2010 11:54 AM

    Charlotte: WikiLeaks' next data release, early next year, is widely expected to centre on Bank of America Corp (BofA). WikiLeaks Editor In Chief Julian Assange - currently under house arrest in England - touched off a fevered wave of speculation last month, when he disclosed the group would follow up...
  • Bank of America stops handling WikiLeaks account 19-12-2010 04:41 PM

    Washington: Bank of America Corporation has joined several other financial institutions in refusing to handle payments for WikiLeaks, the latest blow to the secret-releasing organisation's efforts to continue operating under pressure from governments and the corporate world. The Charlotte, North Carolina-based bank's move adds to similar actions by Mastercard Inc...