Bank of America News

Proceeds are slated for general corporate purposes, including stock buybacks and dividend payments. 

The head of the global capital markets of Bank of America Sanjeev Jha, 34, died on Tuesday due to a rare disorder of the immune system at Lilavati Hospital. Reportedly, the disorder was provoked by the dengue shock syndrome.

Online marketplace Amazon India is opening 'seller cafes' across 24 cities and towns to offer on-ground help to merchants on its platform ahead of the festival season.

Notwithstanding the significant jump in consumer price inflation, the Reserve Bank of India is expected to cut key policy rates by 25 basis points in its policy review meet on October 4, as good monsoon is likely to damp inflationary pressures, says a report.

HSBC and Bank of America Merrill Lynch said on Wednesday they had created the world`s first application using blockchain technology to simplify one of the most cumbersome aspects of trade finance.

June CPI inflation may climb to 6.2 percent, but despite this Reserve Bank is expected to cut key policy rate by 25 basis points on August 9, with monsoon set to douse agflation, says a report.

Bank of America earnings fell Wednesday as the hit from the energy bust and weak securities trading more than offset gains in consumer banking. 

Reserve Bank is likely to go for a 50 basis points rate cut next fiscal year and out of this 25 bps cut may be affected in the policy review meet next month amid slackening economic recovery, says a report.

Bank of America has asked Twitter to delete tweets of the founding editor of Business Insider`s British edition, Jim Edwards.

Government is likely to meet its fiscal deficit target this year despite risks of shortfall in tax collection and disinvestment proceeds, as it may go for a small reduction in public spending, says a report.

Terming the telecom watchdog's policy to compensate users for call drops difficult to implement, Bank of America Merill Lynch today said it expects a hit of up to 5 percent in the pre-tax profits for listed majors Bharti and Idea Cellular.

Bank of America chief executive Brian Moynihan will keep his chairman post after a majority of shareholders backed the appointment Tuesday, outvoting critics who wanted to split the posts.

Bank of America Merill Lynch Monday said it sees a recovery in consumption equivalent to 1 percentage point of India's GDP in the next few months on lending rate cuts, expected hike in salaries by government and savings from lower oil prices.

Bank of America announced Thursday that it will hold a special meeting in September for shareholders to vote on splitting the chief executive and chairman roles.

Even though forex reserves have touched all-time highs, RBI will continue to accumulate the same as it needs resources to fight another round of pressure on the rupee that may come with the Fed rate hike and also a surge in imports with the economic recovery, BofAML has said.

The Reserve Bank is likely to cut benchmark interest rate by 0.25 percent in its next month's policy review if monsoon rains remain normal, Bank of America Merrill Lynch said Monday.

As the Modi government completes first year in office, though almost all American investors are "overweight" on the country, they also complain that nothing is changing on the ground, says a report by Bank of America -Merrill Lynch.

The Securities and Exchange Commission is investigating Bank of America to see whether it broke rules by speculating with its customers` funds, a person close to the matter said Tuesday.

Bank of America Merrill Lynch has revised upward its oil price forecasts for 2016, but said it remained bearish amid oversupply, weak demand from emerging markets, a return of US shale production and expectations of a deal on Iran.

Bank of America Corp, the No. 2 U.S. bank by assets, posted a first-quarter profit, narrowly beating analysts` estimates, as legal costs fell steeply and the bank earned more from mortgage lending and investment and brokerage services.