Bank of America completes purchase of Merrill Lynch
Bank of America has announced that they have now completed their acquisition of Merrill Lynch.
The deal has now created the largest U.S. Bank.
Bank of America now has about $2.7 trillion of assets which makes it larger than both JPMorgan Chase and Citigroup.
Bank of America also gets access [...]
Bank of America to cut around 30,000 jobs
Bank of America has announced that they would be cutting between 30,000 and 35,000 jobs over three years.
This is largely due to their recent acquisition of Merrill Lynch.
This job cut is going to affect about 11% of the merged entity which has around 308,000 employees.
Bank of America [...]
Bank of America to acquire Merrill Lynch?
Market reports point towards this major news happening right now.
Apparently, Bank of America has agreed to buy Merrill Lynch.
The deal is said to be worth close to around $44 billion. This valuation comes to around $29 a share.
The two companies have declined to comment on this rumor in the [...]
Wal-Mart Stores: No. 1 on Fortune 500 US list
US based retailing industry giant Wal-Mart has retained the number one spot in the USA Fortune 500 list.
The company posted revenues of 378.8 billion dollars last year which was up 7.9 percent compared to the previous year.
Second spot was taken by ExxonMobil which posted revenues of USD [...]
Bank of America cutting 3000 jobs
Bank of America Corp. has announced their decision to cut as many as 3000 jobs from their organization.
This announcement comes just as they posted a huge drop in earnings for the third quarter.
The banking company said that this decision would only affect less than 2 percent of the company’s staff.
Bank [...]
The first national bank credit card brand returns to usher in a new era of rewards and services for its customers
Bank of America today announced the re-launch of the BankAmericard, which revolutionized consumer credit nearly 50 years ago. The original BankAmericard credit card, the first nationally accepted bank credit card, changed the landscape of financial [...]
