• News (5)
    Financial Times (20 Apr 2009)

    BANK OF AMERICA reported net income more than tripled to $4.2 billion in the first three months of the year, well ahead of analysts’ expectations, as mortgage refinancing and commercial banking revenues boosted its performance. The bank’s profits of $0.44 a share beat consensus expectations that it would earn $0.04 a share and represented a sharp improvement from the $0.23 a share, or $1.2 billion, from the same period last year.

    Timesonline (13 Jan 2009)

    MERRILL LYNCH and BANK OF AMERICA, its new owner, are intending to cut approximately 1,900 staff in London — one of the biggest single staff reductions in the history of the City. Staff at MERRILL LYNCH have been told that management is looking to cut 30 per cent of the combined workforce in the capital. Some staff have been asked to reapply for their jobs last week.