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Bank of America agrees to record $17 bn deal over mortgage fraud

Bank of America agrees to record $17 bn deal over mortgage fraud

Last Updated: Thursday, August 21, 2014, 19:06

Bank of America agreed Thursday to a record nearly USD 17 billion deal with US justice authorities to settle accusations over dodgy mortgage securities it issued ahead of the 2008 financial crisis.

Bank of America fined $1.3 bn for mortgage fraud

Last Updated: Thursday, July 31, 2014, 09:03

A US judge Wednesday ordered Bank of America to pay a $1.3 billion penalty for selling bad loans to mortgage finance firms Fannie Mae and Freddie Mac amid the housing crisis.

Morgan Stanley to raise junior bankers'' base salaries by 25%: Report

Last Updated: Tuesday, July 29, 2014, 06:51

Morgan Stanley is raising base salaries for junior bankers by about 25 percent in a bid to improve working conditions and retention, Bloomberg said, citing people briefed on the matter.

Consensus bullishness risk to Dalal Street: BofA-ML

Last Updated: Tuesday, July 22, 2014, 22:32

The brokerage said it met nearly 60 global investors over the past two weeks, and all are overweight on the country.

BRICS bank opens cooperation opportunities with S America: PM

Last Updated: Thursday, July 17, 2014, 09:13

Prime Minister Narendra Modi has said the establishment of the BRICS development bank opens up newer opportunities of cooperation with nations of South America.

Bank of America offers $13 bn in mortgage-securities settlement

Last Updated: Thursday, July 17, 2014, 08:34

The Department of Justice, however, has demanded $17 billion from the bank, US media reported.

Infosys seeks revival with more tech investments, staff

Last Updated: Friday, July 11, 2014, 18:30

India`s second largest IT services provider Infosys Ltd said on Friday it would boost investment in cloud computing, smartphone apps and other new technologies to win more high-margin outsourcing contracts.

Half of Americans can't go a day without cell phone: survey

Last Updated: Wednesday, July 02, 2014, 16:51

The Bank of America Trends in Consumer Mobility Report was based on telephone surveys of 1,000 smartphone users.

Reforms to drive Sensex to 27,000 at year end: BofAML

Last Updated: Tuesday, July 01, 2014, 22:32

Reforms by the Modi government are expected to drive the benchmark stock market index to a year-end target of 27,000 points, a US brokerage said.

Govt may cut 2% import duty on gold in budget: BoAML

Last Updated: Sunday, June 29, 2014, 18:58

The union government is expected to cut two percent import duty in gold in the forthcoming budget, as local jewellers run out of inventory, a leading US brokerage said.

Global investors pull $600 million from stock funds: BofA

Last Updated: Saturday, June 28, 2014, 00:17

Fund investors worldwide pulled USD 600 million out of stock funds in the week ended June 25 on concerns surrounding European growth, data from a Bank of America Merrill Lynch Global Research report showed on Friday.

BofA could pay at least $12 bn to settle US probes: Report

Last Updated: Friday, June 06, 2014, 08:10

Bank of America Corp could pay more than USD 12 billion to settle probes by the US Justice Department and a number of states into the bank`s alleged handling of shoddy mortgages, the Wall Street Journal said,.