Page 3 - Bank Of America

SEC targets its own staff's texting, nixes WhatsApp office phones

The regulatory crackdown extracted at least $200 million apiece from Wall Street giants such as Bank of America Corp., JPMorgan Chase & Co and Goldman Sachs Group Inc, while also fining others

Ex-BofA veteran overseeing Vedanta Group's restructuring steps down

Davis, who was named as president for strategy at Vedanta Resources Ltd. last year, was working closely with the group's lenders and shareholders

Fundraising in India to be stronger than ever over next 2 years: BofA

Purohit expects between 5 and 10 tech firms and two or three local subsidiaries of multinational companies to launch initial public offerings in the period.

19% of global fund managers bullish on India; Japan most preferred: BofA

Among markets, investors preferred India and Taiwan apart from Japan, while avoiding Thailand and China, the survey suggested.

HDFC Bank accepts bids worth $750 mn for dollar bond issuances: Bankers

Barclays, Bank of America, JP Morgan, MUFG and Standard Chartered are the joint global coordinators and lead managers

HDFC Bank appoints BoA, Barclays for likely dollar bond issue, say bankers

HDFC Bank's Regulation-S notes will be rated Baa3 by Moody's and BBB- by S&P

India to budget fiscal deficit at 5.3% of GDP in FY25: BofA Securities

Finance Minister Nirmala Sitharaman will opt for a further reduction in fiscal deficit to 5.3 per cent of India's gross domestic product in the upcoming budget for FY25 despite poll pressure, a foreign brokerage said on Friday. The government will meet the FY24 commitment to reduce the important number to 5.9 per cent, BofA Securities said in a note. "We see Centre's fiscal deficit to consolidate further to 5.3 per cent of GDP, despite poll pressure," its analysts wrote in a note. The government will opt for continuing with its strategy of consolidating fiscal deficit through capital expenditure driven growth instead of expenditure compression, it said. The brokerage said digitization-led formalization has aided the fiscal math through tax buoyancy on one side and reducing wasteful expenditure (subsidy leakage) on the other. The government had earlier committed to reduce the fiscal deficit to 4.5 per cent by FY26 as part of its glide path to gradually reduce the gap, which is seen

State Bank of India raises $600 million through dollar bonds

S&P Global Ratings had assigned a BBB long-term issue rating to benchmark-sized notes that the London branch of SBI issued

Investors kick off 2024 with $123 billion record cash shift, says BofA

Energy stocks saw their seventh straight week of outflows, and the largest since July 2023 of $1.0 billion. U.S. small-cap stocks recorded a weekly inflow of $2.3 billion, their fifth weekly inflow in

Amazon's video ad push expected to generate extra $5 bn in revenue

Amazon's advertising business - mostly search and display ads on its web store - generated $12.1 billion in the quarter ended September 30, about 8.5% of total revenue

Asian fund managers more bullish on equities: Bank of America Survey

The return expectations are based on above-par earnings and supportive policy

India's relative position at its strongest in many years: Raj Balakrishnan

The deal pipeline across products is robust for 2024. Banks are actively working on several IPOs, with plans to file them in the next three months, says Balakrishnan

RBI imposes penalty on HDFC Bank, Bank of America for violating FEMA norms

RBI fined HDFC Bank, a leading private sector bank, for accepting deposits from non-residents and flouting RBI's directions under the Liberalised Remittance Scheme of FEMA, 1999

Investors pour $40 bn into stocks in two weeks as markets surge: BofA

Global stocks have surged since the end of October as data has shown U.S. inflation is cooling faster than expected

Bank of America survey says 'dramatic shift' towards high-flying US stocks

US equities have outperformed global peers this year, with the S&P 500 Index rising 17 per cent

Morgan Stanley ups India's FY24 economic GDP forecast while BofA cuts

Economists at BofA Global Research, however, cut their estimates as quarterly growth missed their forecast

BofA Securities ups Nifty target to 20,500; sees markets get rerated

The foreign brokerage firm prefers large-caps over their mid-and small-cap peers as the valuations in case of the latter are rich and earnings growth estimates seem stretched.

$5 bn sustainability loans can be linked with target: BofA's Subramaniam

Bengaluru is worst-affected city, even as it continues to top start-up fundraising

Bank of America profit rises in second qtr on boost from interest income

Bank of America's net interest income (NII) rose 14% to $14.2 billion in the second quarter

BoA to pay over $100 mn for doubling fees, opening accounts without consent

Bank of America must pay more than USD 100 million to customers for double-dipping on some fees, withholding reward bonuses and opening accounts without customer consent. The Office of the Comptroller of the Currency also found that the bank's double-dipping on fees was illegal. Bank of America will pay USD 90 million in penalties to its organisation and USD 60 million in penalties to the OCC, the Consumer Financial Protection Bureau said on Tuesday. Bank of America, based in Charlotte, North Carolina, serves 68 million people and small business clients. The bank had USD 2.4 trillion in consolidated assets and USD 1.9 trillion in domestic deposits as of March 31, making it the second- largest bank in the US.