· Bank of America Merrill Lynch cuts GOLD and SILVER forecast for 2014 and says it could get even uglier. Why is that a bad thing? If you have decent short positions or you don’t even trade the metals it shouldn’t even have an effect on a portfolio.
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Bank of America will drop merrill lynch from its investment-bank brand, while keeping the name Merrill for its wealth management unit. The Charlotte, N.C.-based lender will refer to its investment bank as BofA Securities and drop the U.S. Trust name from its private bank, the company said Monday in a statement.
MetLife exits forward mortgage business metlife exits forward mortgage business NEW YORK, January 10, 2012 – MetLife, Inc. (NYSE: MET) announced today that it is exiting the business of originating forward residential mortgages. MetLife Home Loans, the residential mortgage division of MetLife Bank, N.A., will no longer accept new loan applications for forward mortgages.
While Bank of America will keep the Merrill Lynch brand for its retail brokerage and investment bank, the Charlotte, N.C.-based company plans to dissolve the subsidiary as early as the fourth.
"Bank of America Merrill Lynch" is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC.
Private sector gains 130,000 jobs in October "According to ADP National Employment Report findings, the U.S. private sector added a total of 130,000 jobs during the month of October, well below the average of the last twelve months," said Carlos Rodriguez, president and chief executive officer of ADP.The real reason the Fed is going to begin tapering Jobless claims fall to lowest level since 2007 · Initial jobless claims fell to 300,000. Expectations were for a reading of 318,000, down from a revised 327,000 last week. Continuing claims fell to 2,631,000 from 2,648,000 prior. · Fed set to shrink huge bond portfolio, pushing up interest rates. He said he believed the program would start in December and last perhaps five years. The size of the holdings not recycled likely would increase with time. Of course, there is a debate on.
s Merrill Lynch unit agreed to pay $160 million to settle a discrimination. Bank of America, the second-biggest U.S. lender by assets, acquired. The Charlotte, North Carolina-based bank plans to dissolve the unit as early as.
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U.S. homeownership hits record low: Gallup Luxury home market – and millionaires – on the mend Shenzhen’s booming high-tech sector has vaulted the city from a sleepy fishing town in the 1980s to China’s “Silicon Delta,” a bustling metropolis of more than 12.5 million. Home to the. Shenzhen’s.– As Americans prepare to celebrate the Fourth of July holiday, their pride in the U.S. has hit its lowest point since Gallup’s first measurement in 2001. While 70% of U.S. adults overall say they are proud to be Americans, this includes fewer than half (45%) who are "extremely" proud, marking the second consecutive year that this reading is below the majority level.
· Merrill Lynch also engaged in significant remediation in response to the rule 21f-17 violation, including the revision of its agreements, policies and procedures, and the implementation of a mandatory annual whistleblower-training program for all employees of Merrill Lynch and its parent corporation, Bank of America.
Bove based his conclusion largely on an analysis of Bank of America’s trading division. Since 2010, the unit’s revenues, most of which stem from its Merrill Lynch franchise, have fallen from $10.1.
Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite