Bank of America
CDSs on Chinese financials tighten on positive corporate results
The cost of credit protection on Chinese banks fell this morning as a series of positive results for Chinese corporates boosted the Shanghai Composite Index 2.78% and Hong Kong's Hang Seng Index 2.76% in overnight trading.
Pension funds sue BoA over Merrill Lynch purchase
Losses and Lawsuits
Merrill takes Deutsche to court over staff 'Raids'
Losses and Lawsuits
Bank of America deploys 'Ice cream defence' against Cuomo
Losses and Lawsuits
$9.2 billion derivatives losses for US banks in Q4
US commercial banks reported $9.2 billion in derivatives trading losses during the fourth quarter of 2008, bringing total trading losses in 2008 to $836 million, according to a quarterly report by the Office of the Comptroller of the Currency (OCC). This…
Cuomo subpoenaed Merrill execs on bonuses
Daily news headlines
Merrill fined $1 million over conflicts of interest
Losses & Lawsuits
Eight CEOs face congressional bonus questions
The need for discretionary pay was one of numerous thorny issues put to chief executives of eight major banks during a hearing of the US House Financial Services Committee in Washington, DC.
Deutsche takes 12 from Merrill Lynch
Twelve senior bankers have left Merrill Lynch to join Deutsche Bank's institutional group, as Merrill's former CFO steps down.
Obama ties executive pay caps to bail-out funds
President Barack Obama on Wednesday unveiled a compensation cap of $500,000 for top executives at firms receiving "exceptional assistance" from the US government.
Merrill Lynch fined $1 million for conflicts of interest; BoA picks up the tab
Daily news headlines
Merrill Lynch chief executive forced out over bonus row
Losses & Lawsuits
Anger as Bank of America withholds bonuses after $4 billion Merrill payout
Daily news headlines
Thain departs BoA within a month of merger
John Thain, Merrill Lynch's former chairman and chief executive, is the second investment banking head to leave Bank of America (BoA) since the two banks' merger closed on January 1.
US props up Bank of America
Daily news headlines
Sifma approves plan to unfreeze $200bn of CMOs
A plan to re-inject liquidity into into the collateralised mortgage obligation (CMO) market will go into action later this month after being approved by a major US industry association.
Merrill loses investment banking head
Merrill Lynch's former head of investment banking, Gregory Fleming, has left the bank, less than two weeks after its acquisition by Bank of America was completed.
BoA names regional leadership positions
Bank of America (BoA) has appointed the regional heads that will take charge once its purchase of Merrill Lynch is complete, which is expected to be in the first quarter of 2009.
Bank of America to lay off thousands
Bank of America plans to lay off between 30,000 and 35,000 employees over the next three years. The bank blamed the cuts on the weak economic environment and its impending merger with Merrill Lynch.
Banks cut staff in Europe and US
More European and US banks joined the growing list of institutions to cut staff in the wake of the financial crisis.
UK CDS spreads up
The cost of credit protection on UK banks increased in early trading this morning, while US financial institutions experienced mixed market sentiment.
Bank of America sues Bear Stearns, Cioffi and Tannin
Losses and Lawsuits
CBOE re-elects six board members
Members of the Chicago Board Options Exchange (CBOE) re-elected six incumbent directors to its board on November 20.