Bank of America Corp.’s equities unit lost about half a dozen members in recent weeks including John O’Brien, head of New York derivatives sales, who joined Deutsche Bank AG, said two people with knowledge of the matter.
Lower Colorado River Authority, which supplies electricity for more than 1 million people in Texas, sold $200 million of bonds as the premium above similarly rated debt plunged about 60 percent in three months.
Bank of America Corp. will introduce an exchange-traded note whose value is derived from the size of stock-price swings in the U.S., competing with Barclays Plc securities that won as much as $2.8 billion in assets.
The University of Virginia’s board will meet next week to discuss the “terms of employment” for Teresa Sullivan, the president they ousted earlier this month, fueling speculation they may reinstate her.
Texas ’s reserve fund may climb to 28 percent more than officially forecast by 2013 as energy prices rally, a gain that might help the second-most populous state avoid some spending cuts, a key senator said.
The U.S. Securities and Exchange Commission agreed to drop an administrative action against former Goldman Sachs Group Inc. director Rajat Gupta, and he pledged to dismiss a lawsuit claiming the regulatory proceeding violated his constitutional rights.
The port of Miami, the world’s largest cruise-ship hub, is selling a record $389 million of debt to boost its cargo business as the Panama Canal expands. Investors are balking, as the plan would triple the facility’s bond load in four years.