IBTimes Australia : Bank of America Topic

Greece's Piraeus hire banks to advise on share issue: sources

Sun, 19 May 2013 00:14:04 +1000

Greece's second-largest lender Piraeus Bank has hired four international investment banks as advisers on its 7.33 billion euro (£6.2 billion) share issue, two bankers close to the procedure told Reuters on Saturday.

U.S. judge revives Dexia's mortgage lawsuit versus JPMorgan

Sat, 18 May 2013 10:28:02 +1000

A federal judge has revived a closely watched lawsuit accusing JPMorgan Chase & Co of misleading Belgian-French bank Dexia SA into buying more than $1.6 billion (1 billion pounds) of troubled mortgage debt.

Judge revives Dexia's mortgage lawsuit vs. JPMorgan

Sat, 18 May 2013 07:49:02 +1000

A federal judge has revived a closely watched lawsuit accusing JPMorgan Chase & Co of misleading Belgian-French bank Dexia SA into buying more than $1.6 billion of troubled mortgage debt.

Exclusive - Onex fails to find buyer for Carestream Health

Sat, 18 May 2013 07:35:02 +1000

Onex Corp has called off its auction of medical imaging firm Carestream Health Inc after failing to find a buyer that was willing to meet its price expectation of as much as $3.5 billion (2.3 billion pounds), three people familiar with the matter said this week.

Exclusive: Onex fails to find buyer for Carestream Health

Sat, 18 May 2013 06:49:03 +1000

Onex Corp has called off its auction of medical imaging firm Carestream Health Inc after failing to find a buyer that was willing to meet its price expectation of as much as $3.5 billion, three people familiar with the matter said this week.

Bankers see M&A recovery after deals drop 7 pct so far in 2013

Sat, 18 May 2013 01:35:02 +1000

A drop in European takeovers has depressed global merger and acquisitions (M&A) activity so far this year, but bankers see activity picking up as a rally in stocks and bonds helps compensate for a prolonged euro-zone recession.

Fed hawks unite in call to retreat from mortgage stimulus

Fri, 17 May 2013 05:00:04 +1000

A trio of hawkish regional Federal Reserve officials are calling for the central bank to stop buying mortgage-backed bonds, citing recent improvement in the housing market.

JP Morgan names Cristerna, Ventresca co-heads of global M&A: memo

Fri, 17 May 2013 02:42:02 +1000

JP Morgan has appointed Hernan Cristerna and Chris Ventresca to the newly created roles of co-heads of global mergers and acquisitions (M&A), according to a memo seen by Reuters.

Fed hawks push for move away from housing-linked stimulus

Fri, 17 May 2013 02:28:03 +1000

A trio of hawkish regional Federal Reserve officials are calling for the U.S. central bank to stop buying mortgage-backed bonds, citing recent improvement in the housing market.

U.S. regulator to vote on watered-down swap rules

Thu, 16 May 2013 23:42:03 +1000

Big banks are set to gain key concessions as the top U.S. derivatives regulator meets to vote on watered-down rules for swap trading that will chip away at Wall Street's dominance of the $630 trillion market.

INSIGHT-Dimon has big say over who serves on JPMorgan board

Thu, 16 May 2013 14:21:03 +1000

For years, JPMorgan Chase & Co Chairman and CEO Jamie Dimon and other executives have hand-picked new directors, in a practice that is now unusual for a major U.S. bank.

Insight: Dimon has big say over who serves on JPMorgan board

Thu, 16 May 2013 14:21:03 +1000

For years, JPMorgan Chase & Co Chairman and CEO Jamie Dimon and other executives have hand-picked new directors, in a practice that is now unusual for a major U.S. bank.

Insight - Dimon has big say over who serves on JPMorgan board

Thu, 16 May 2013 14:21:02 +1000

For years, JPMorgan Chase & Co Chairman and CEO Jamie Dimon and other executives have hand-picked new directors, in a practice that is now unusual for a major U.S. bank.

Deutsche Bank names head of wealth in Americas

Thu, 16 May 2013 04:14:02 +1000

Deutsche Bank AG said on Wednesday it has named Jerry Miller to run the German bank's asset and wealth management business in the Americas.

Wall St jumps as banks lead indexes to new highs

Wed, 15 May 2013 06:56:02 +1000

U.S. stocks rallied to fresh highs on Tuesday as investors picked up large-cap companies' shares on the expectation that central bank stimulus will help propel the rally further.

Wall Street jumps as banks lead S&P 500 to new high

Wed, 15 May 2013 01:42:02 +1000

Stocks rose and extended a recent rally on Tuesday, with the S&P 500 and Dow hitting a new intraday high as investors bet that the market's upward momentum would continue.

Wall Street hits session highs, banks lead

Wed, 15 May 2013 01:21:02 +1000

Stocks extended gains in late-morning trading on Tuesday, led by gains in banks, including Bank of America and Citigroup . Both the Dow and S&P 500 set intraday record highs.

Libor Fixing Scandal: Barclays Wins US Lawsuit Dismissal

Tue, 14 May 2013 15:57:26 +1000

Bank, Bob Diamond and others win dismissal of shareholder lawsuit which claim investors lost money on rate rigging.

U.S. banks push back on change in loan loss accounting

Tue, 14 May 2013 08:07:02 +1000

More than a dozen of the biggest U.S. banks have questioned a proposed accounting change meant to boost reserves for risky loans, saying the results would be vastly different from those of a similar rule being developed by global standard-setters.

Barclays wins dismissal of U.S. shareholder lawsuit over Libor

Tue, 14 May 2013 07:28:01 +1000

Barclays Plc , the first bank to settle with authorities over alleged manipulation of the Libor interest rate, on Monday won the dismissal of a U.S. lawsuit by shareholders who claimed they lost money because of the British bank's activity.

FBI says more cooperation with banks key to probe of cyber attacks

Tue, 14 May 2013 05:42:02 +1000

The FBI last month gave temporary security clearances to scores of U.S. bank executives to brief them on the investigation into the cyber attacks that have repeatedly disrupted online banking websites for most of a year.

Argentina faces very different debt default if loses legal fight

Mon, 13 May 2013 21:14:02 +1000

When Argentina defaulted on its debt in 2002, the economy was collapsing and a bloody popular revolt had helped topple two presidents in a week. Now, the country could default again, but it would be over a matter of principle rather than necessity.

Risks to China recovery seen as factory output underwhelms

Mon, 13 May 2013 20:00:02 +1000

China's factory output growth was surprisingly feeble in April and fixed-asset investment slowed, rekindling concerns that a nascent recovery is stalling and adding to pressure on policymakers to take action to stimulate the economy.

BofA fires back at New York over modification violations

Sat, 11 May 2013 08:00:04 +1000

Bank of America Corp has fired back at New York Attorney General Eric Schneiderman after he threatened to sue the bank for violating the terms of a $25 billion settlement designed to end mortgage servicing abuses.

Analysis: New York may have to drop claims against BofA over Merrill

Fri, 10 May 2013 21:14:03 +1000

Last month, New York Attorney General Eric Schneiderman withdrew claims for up to $6 billion in damages against former AIG chief Hank Greenberg. Now, another big case - against Bank of America over its acquisition of Merrill Lynch - looks headed the same way.

BT raises outlook ahead of sports TV battle

Fri, 10 May 2013 16:49:02 +1000

Britain's BT raised its outlook on Friday after cost cuts and strong consumer demand helped it to beat annual forecasts, underlining its position of strength ahead of a battle with BSkyB for pay-TV viewers.

BofA sells $110 billion CMBS servicing rights portfolio to KeyBank

Fri, 10 May 2013 12:21:01 +1000

Bank of America Corp will sell a commercial mortgage servicing rights portfolio valued at around $110 billion to a KeyCorp unit for an undisclosed amount, the latest offloading of servicing assets which many big banks consider costly to collect on.

Analysis - "Dead money" for shareholders a pall over investment hopes

Fri, 10 May 2013 00:28:04 +1000

A growing trend for companies to return some of their huge cash piles to shareholders rather than using the money to expand their businesses could spell trouble for the global economy.

"Dead money" for shareholders a pall over investment hopes

Fri, 10 May 2013 00:21:02 +1000

A growing trend for companies to return some of their huge cash piles to shareholders rather than using the money to expand their businesses could spell trouble for the global economy.

U.S. can pursue case against Bank of America over mortgages

Thu, 09 May 2013 05:14:04 +1000

A federal judge ruled on Wednesday that the United States can pursue parts of a civil lawsuit against Bank of America Corp over its sale of toxic mortgages to Fannie Mae and Freddie Mac , boosting a largely untested legal theory the government used in the case.