Andrew Todd News
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Bank of America Corp. sold $16.1 million of structured notes tied to the debt of banks including Morgan Stanley with a coupon dependent on the Thai baht exchange rate.
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Bank of America Merrill Lynch sold $100 million of structured notes that will initially reward investors based on the performance of a similar note issued last year by ING Groep NV.
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Imara Holdings Ltd., which manages about $368 million in assets in 14 African countries, will lose derivatives traders Garth Mackenzie and Andrew Todd today as they move to trading their own capital from home.
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Bank of America Corp., the second- largest U.S. lender, promoted Ashok Krishnan to lead its execution services business globally, succeeding Roger Anerella who is leaving the firm.
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South Africa’s FTSE/JSE Africa All Share Index added 163.70, or 0.6 percent, to 27,309.06 in Johannesburg, snapping two days of losses.
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Kumba Iron Ore Ltd. , a unit of Anglo American Plc, demanded that ArcelorMittal South Africa Ltd. pay for ore before it’s delivered because the steelmaker rejected options it put forward to resolve a dispute over supply.
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At least 32 people died and another 58 remain trapped underground after two explosions ripped through a Siberian mine run by OAO Raspadskaya, Russia’s largest coal producer.
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South African stocks fell to the lowest since March 23, led by BHP Billiton Ltd. , the world’s largest mining company, as copper retreated and as Greece’s rating was cut, curbing demand for emerging-market assets.
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South Africa’s FTSE/JSE Africa All Share Index fell 997.76, or 3.6 percent, to 26,515.07, retreating 10 percent from this year’s high of 29,565.10 on April 15, the threshold for a so-called correction. The measure declined 7.4 percent this week, the biggest weekly slump since Dec. 5, 2008.
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Gold Fields Ltd. , Africa’s second- largest miner of the precious metal, rose the most in seven months in Johannesburg trading after a “major” gold, copper and silver find in southern Peru.
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