Results for "bank of america corp"

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Muted sanctions remove spotlight from Wall Street misconduct

February 15, 2018

Under President Donald J. Trump, a top financial regulator isn't embarrassing Wall Street as much as it used to. Take TPG Capital LP — the private equity behemoth co-founded by billionaire David Bonderman. For years, the U.S. Securities and...

Treasury market pummeled in its worst January since 2009

February 1, 2018

The U.S. Treasury market is delivering investors a loss of historic proportions to start 2018. The Bloomberg Barclays U.S. Treasury Index was down 1.42% through Jan. 30. It's on track for the worst start to a year since January 2009, when traders...

Stock fervor abounds as equities continue to rally

January 10, 2018

The sound of euphoria just got a bit louder. The new year isn't even two weeks old, and already $2.1 trillion has been added to the market capitalization of global equities. The market is verging on such overbought levels that not even reliably...

Brokerage stocks still have room to run: analyst

January 8, 2018

The stocks of smaller, mid-cap brokers, most notably LPL Financial Holdings Inc., and electronic trading firms have the greatest potential valuation upside in 2018. Various policy tailwinds and economic drivers appear poised to give a shot to...

Wall Street aims to protect 401(k)s from hacking nightmare

January 4, 2018

U.S. financial firms plan to expand a secretive project protecting bank accounts against crippling cyberattacks so that it will also guard trillions of dollars in investment funds. The industry-led project, called Sheltered Harbor, already is...

Morgan Stanley fires former Congressman Harold Ford for misconduct

December 7, 2017

Morgan Stanley fired former Congressman Harold Ford Jr. after conducting an investigation into harassment, making him the most prominent Wall Street figure to lose his job after an accusation of misconduct. He denies the claims. "He has been...

BlackRock, Vanguard on track to manage $20 trillion within a decade

December 4, 2017

Imagine a world in which two asset managers call the shots, in which their wealth exceeds current U.S. GDP and where almost every hedge fund, government and retiree is a customer. It's closer than you think. BlackRock Inc. and Vanguard Group...

Merrill Lynch fined $45.5 million for failing to report trades

October 23, 2017

Bank of America Corp.'s Merrill Lynch was fined 34.5 million pounds ($45.5 million) for failing to report two years' worth of exchange-traded derivatives transactions, making the bank the first in the U.K. to pay a penalty on that type of trades...

In a turnaround, Wells Fargo Advisors sees slight bump in headcount

October 13, 2017

Wells Fargo Advisors has staunched the hemorrhaging of financial advisers — for now, at least — that has plagued it since last year when its parent, Wells Fargo & Co., revealed a widespread banking scandal that affected its retail customers....

Ex-Morgan Stanley broker pleads not guilty to insider trading

September 5, 2017

A longtime Morgan Stanley broker and financial adviser pleaded not guilty to trading on secret tips about pending mergers and acquisitions leaked by a Bank of America Corp. consultant. Michael Siva, 55, got the information from a close friend,...

Junk bonds face wave of supply just as investors turn sour

September 1, 2017

After a tough summer for junk bonds, with investors yanking cash out of the market, the clouds are gathering for a potentially stormy fall. September is typically among the busiest periods of the year for debt sales, posing a risk to issuers...

Warren Buffett converts Bank of America warrants to buy $16.5 billion stake in bank

August 29, 2017

Warren Buffett's Berkshire Hathaway Inc. exercised warrants to buy 700 million shares of Bank of America Corp., locking in an $11.5 billion investment gain in a move that was telegraphed earlier this year. Buffett invested $5 billion in Bank...

Big U.S. banks could see profits jump 20% with deregulation

August 24, 2017

The deregulation winds blowing through Washington could add $27 billion of gross profit at the six largest U.S. banks, lifting their annual pretax income by about 20 percent. JPMorgan Chase & Co. and Morgan Stanley would benefit most from changes...

High-grade U.S. bonds run at fastest pace ever past $1 trillion

August 22, 2017

Blue-chip companies have sold more than $1 trillion of bonds in 2017, passing that milestone for the sixth straight year, as Federal Reserve rate hikes spur companies to borrow while it's still cheap. Sales from Amazon.com Inc. and Philip Morris...

U.S. companies having best earnings season in 13 years

August 11, 2017

Overseas demand is driving the best earnings season for U.S. companies in 13 years, with top executives from Dow Chemical Co. to Morgan Stanley citing rising foreign sales, a dynamic that should help propel gains in the second half. With nearly...

Bank of America's Moynihan: No quick pullback from fiduciary rule

July 18, 2017

Bank of America Corp's chairman and CEO, Brian Moynihan, does not see a quick pullback from the Department of Labor's fiduciary rule. The bank's global wealth and investment management group, which contains Merrill Lynch Wealth Management, last...

Morgan Stanley to arm its financial advisers with algorithms to take over routine tasks

May 31, 2017

Call them cyborgs. Morgan Stanley is about to augment its 16,000 financial advisers with machine-learning algorithms that suggest trades, take over routine tasks and send reminders when your birthday is near. The project, known internally as...

Stocks and bonds sending out divergent outlooks on economy

April 25, 2017

Markets are taking sides when it comes to the direction of the U.S. economy. In the green corner are stocks. The Standard & Poor's 500 index is just 0.3% away from a record high reached in March on bets that Donald J. Trump's administration...

DOL rule slows down wirehouse recruiting and crimps bonuses ​

February 27, 2017

After months of secretive planning, seven teams of financial advisers had new business cards and client lists in hand, poised to dump their employers and join Morgan Stanley with more than $500 million of assets in tow. But the wealth managers...

Merrill Lynch trying to make fees more transparent

January 31, 2017

Bank of America Corp.'s Merrill Lynch unit, which has said it will stop offering commission-based retirement accounts as it prepares for the Department of Labor fiduciary rule, also plans to more clearly disclose fees that clients pay to the...

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