Merrill Lynch Stories
AT&T Prepares to Launch LTE Network
AT&T is launching its 4G LTE network in Atlanta, Chicago, Dallas, Houston and San Antonio next week.
NBCU CEO Steve Burke sings monetization tune
Steve Burke, the longtime Comcast exec now in charge of the content side that he once tussled with about fees, sang the monetization tune on Wednesday.
FACTBOX-Companies with Conditional DOE Loan Guarantee Offers
The U.S. Department of Energy's loan program for innovative technologies was created under the Bush Administration in 2005, but the first loan guarantee wasn't extended until four years later when the loan office received funding under the federal economic stimulus.
Republican Takes Anthony Weiner’s Seat: 3 Reasons for Upset
Republican Bob Turner will be sworn in soon to succeed Anthony Weiner in Congress, representing New York’s Ninth Congressional District. He’ll be the first Republican to represent it since Seymour Halpern in the late 1950s.
Bank of America Slashing 30,000 Jobs
Bank of America tried to grow at the peak of the U.S. financial disaster several years ago, acquiring Countrywide Mortgage and Merrill Lynch, the investment bank, but now the Charlotte, N.C.-based company is destined to shrink. The company disclosed plans on Monday to cut 30,000 jobs, as the nation's largest bank tries to cut costs as the U.S. economy continues in a slow-growth, high unemployment mode.
What the Bank of America Shake-Up Means for You
The recent executive shakeup at Bank of America followed by reports of massive layoffs at the bank may leave you wondering what the turmoil means for you - either as a client of the banking colossus and Merrill Lynch, the brokerage firm it owns, or as a shareholder.
Bank of America Layoffs: The Industry Bloodbath Continues
Major global banks have been jettisoning workers en masse for the past few months – the brutal manifestation of a grim new economic landscape.
China Inflation, Growth Cool, Heralding Rate Pause
China's inflation pulled back in August from a three-year high while economic activity slowed, underlining expectations that the central bank can hold off on further tightening of monetary policy in the face of a global economic slowdown.
China Inflation Cools; Monetary Tightening Put Off
China's inflation pulled back in August from a three-year high, underlining expectations that price pressures have peaked and the central bank can hold off on further tightening of monetary policy in the face of a global economic slowdown.
BofA Reported Considering 40,000 Job Cuts
Bank of America executives have discussed slashing roughly 40,000 jobs during the first wave of a restructuring, the Wall Street Journal reports, citing people familiar with the plans.
HSBC Layoffs: Global Banks Continue Merciless Job Cuts
The bank’s chief executive Stuart Gulliver warned in August that HSBC will cut up to 30,000 jobs around the world by 2013.
US Offers Loan Aid to Put Solar on Military Bases
The U.S. Department of Energy said it has offered $344 million in loan aid for a solar power program at military bases that could double the number of the country's residential rooftop solar arrays.
Profit-Taking Lifts Yields from 60-Year Lows
U.S. Treasury debt prices fell on Wednesday as traders booked profits from a recent rally and higher stocks undermined the safe-haven value of U.S. government debt.
Bank of America, Goldman Sachs Stocks Hit Hard over Looming Lawsuit
Stocks of large financial companies, such as Bank of American and Goldman Sachs, have taken a pounding Friday over a likely lawsuit concerning mortgage sales.
Bank of New York: Sometimes CEOs Get Fired For Odd Reasons
Robert Kelly, the chief executive of Bank of New York Mellon Corp. (NYSE: BK) was recently fired reportedly because of his “abrasive” personality and management style.
Fed Asks BofA to Draft Contingency Plan: Report
The Federal Reserve has asked Bank of America Corp to show what measures it could take if business conditions worsen, the Wall Street Journal said, citing people familiar with the situation.
Like Kelly at BNY, Chief Executives Often Get Fired Over Personality Issues
The chief executive of Bank of New York Mellon Corp. Robert Kelly was fired on Wednesday reportedly because of his “abrasive” personality and management style.
Indian Low-Cost Air Lines Take Price War to Overseas Routes.
India's full service airlines, buffeted by high fuel costs and intense competition, face new headwinds on their lucrative international routes as budget carriers launch services with rock-bottom fares.
Bank of America Kept AIG Legal Threat Under Wraps
Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources familiar with the matter.
Q+A: What's behind China's latest reserve move?
China's central bankers have found a new way of keeping banks from lending too much, a step Beijing hopes will help it tackle the country's persistent inflation woes.
Whither Safe Havens: Which Ones Will Be Safe Tomorrow?
This year's heady bout of risk aversion on financial markets has ratcheted up demand for gold, U.S. Treasuries and the Swiss franc to levels that suggest they may no longer be the safe havens they are billed as.
Bank of America: Big Vote of Confidence as Warren Buffett Invests $5B
Billionaire Warren Buffett would invest $5 billion in Bank of America Corp. (NYSE:BAC), expressing his biggest vote of confidence in the banking giant.
Warren Buffett: Altruistic Defender of American Icons or Shrewd Profit Seeker?
Legendary investor Warren Buffett made a phone call to Bank of America CEO Brian T. Moynihan on Aug. 24 and offered to invest a staggering $5 billion in the bank. The Bank of America shares had been in doldrums amid questions over its liquidity situation and rumors that it would need a massive capital injection.
Analysis: 'Safe Haven' Assets Start to Look Risky
This year's heady bout of risk aversion on financial markets has ratcheted up demand for gold, U.S. Treasuries and the Swiss franc to levels that suggest they may no longer be the safe havens they are claimed to be.
Wealth Managers Lost 14,000 Advisers in 2010: Report
The U.S. wealth management industry is shrinking, losing legions of advisers, just as demand for their services is on the rise.
Analysis: Buffett Trades off his Reputation, Returns Follow
Warren Buffett showed again this week that his name and money is enough to give a struggling company instant credibility in the market. But the legendary investor also demonstrated his canny command of that reputation means that such deals can immediately generate profits.
China Factory Output Cools in August--HSBC
China's factory sector is likely to slow slightly for a second consecutive month in August as sluggish overseas demand saps new orders, HSBC's China Flash PMI showed on Tuesday.
Europe stagnant as China cools slightly, PMIs show
Economic growth is stagnating in Europe and cooling slightly in China, according to surveys of business activity released on Tuesday, fuelling concern about the risk of a global slump as Western governments struggle to cope with their debt problems.
Bank Layoffs: Carnage on Both Sides of the Atlantic
Here are some of the largest global banks that are planning significant job cuts.
Bank Layoffs Continue Unabated: UBS to Cut 3,500 Jobs
The company expects to record a restructuring charge of about 550 million Swiss Francs (U.S. $700 million) in connection with the cuts.