Bank of America Corp. , seeking to reduce risk and meet new capital standards, upgraded billions of dollars of distressed mortgage bonds by repackaging them into new securities using a variation of a Wall Street technique that failed during the credit crisis.
Bank of America Corp. , under government pressure to curb private-equity investments, plans to sell $1.2 billion of commitments to funds managed by Warburg Pincus LLC as about 30 employees join two new bank-affiliated ventures, said two people with direct knowledge of the matter.
Bank of America Corp., the lender that’s divesting assets to raise capital, agreed to sell 80.8 million shares of HCA Holdings Inc. back to the health-care company for $1.5 billion. HCA’s stock jumped 12 percent.
Bank of America Corp. agreed to sell its entire stake in Itau Unibanco Holding SA , Brazil’s largest bank by market value, in a transaction that partly fulfills a pledge to boost capital by $3 billion by June 30.
Bank of America Corp. sold its share of China Construction Bank Corp. ’s $9.2 billion rights offer to Temasek Holdings Pte , Singapore’s state investment company, as the U.S. lender boosts capital to meet a pledge to federal regulators.
Nancy Kissel, accused of murdering her banker husband, broke down in a Hong Kong court today after saying that she wasn’t able to help their daughter and said she tried to protect herself from abuse by spiking his drinks.
Bank of America Corp.’s $33 billion of asset sales last year, designed to help meet international capital standards, may slice at least $2.8 billion from 2012 profit that the firm also needs to reach its target.