Results tagged “Bank of America”
Bank of America is facing fraud charges for "duping shareholders and the federal government" over its merger with Merrill Lynch.
New York attorney general Andrew Cuomo announced this morning that he was filing a lawsuit against the bank, its former CEO Kenneth Lewis and CFO Joseph Price seeking "monetary relief and injunctions".
The work of volunteers from businesses in Canary Wharf and the City was recognised at an awards ceremony last week.
Wilton's Music Hall in Limehouse was the venue for the East London Business Alliance Annual Volunteer Awards, presented by London chairman of KPMG and ELBA chairman, Richard Reid.
A former Canary Wharf business analyst is hoping to help clean up London’s streets with his very own three-wheeled electric car.
Al-Karim Versi's A-Kar is a city car or delivery vehicle which has a range of 70 miles and can travel at speeds of up to 35mph.
Bank of America has been bailed out once again by the US government as it struggles with the losses it inherited from recent acquisition Merrill Lynch.
The treasury confirmed it will guarantee $118billion (£80.8billion) in loans and inject $20billion (£13.3billion) into the company.
Bank of America plans to reduce its workforce by more than ten per cent over the next three years.
The corporation - which employs around 1,700 people at its European HQ in Canada Square - cited the merger with Merrill Lynch and "the weak economic environment" as reasons for the move.
LEHMAN Brothers has declared itself bankrupt in a tempestuous morning for the European financial market.
The 158-year-old investment bank announced it was filing for Chapter 11 bankruptcy on Monday morning after a last-minute deal to rescue the high-profile institution failed.
Many workers at the company were seen leaving the building this morning carrying boxes.
Barclays and Bank of America were in talks to rescue the troubled firm, but Bank of America instead turned its attentions to a buy-out of Merrill Lynch.
