– Trading revenues at Bank of America Corp are on track the be 15 percent lower in the fourth quarter than they were a year ago, Chief Executive Officer Brian Moynihan said during a question and answer session at an industry conference Tuesday. Moynihan, who touched on a range of topics, added that there is ‘no question’ tax reform will boost corporate spending."Bank of America CEO says fourth-quarter trading is down 15 percent"
NEW YORK ( Breakingviews) – Latin America has battled dictators and demagogues. Its next adversary is lawlessness. As Michael Reid writes in “Forgotten Continent: A History of the New Latin America,” further steps toward prosperity depend on the region’s willingness to embrace the rule of law and effective institutions – both of which are still lacking. Having sloughed off various strongmen in the last 20 years of the 20th century, Latin American nations have found…"Breakingviews – Review: The next fight for Latin America’s soul"
BARCELONA – America Movil has seen has seen interest from potential buyers for its 21.4 percent stake in Dutch telecoms group KPN and may consider selling, the CFO of the Mexican telecoms company said on Friday. “We have gotten expressions of interest in the past from other players but we are getting expressions of interest again,” Carlos Garcia Moreno said, speaking to investors at the Morgan Stanley TMT conference in Barcelona. Movil has held KPN…"America Movil CFO says has had interest in KPN stake"
NEW YORK – Bank of America Merrill Lynch said on Wednesday that it will increase the pay of brokers each month who grow their business in 2018 and will cut the monthly pay of those who do not, in a bid to the Wall Street brokerage’s own growth. The new compensation plan, which was sent to Merrill’s 15,000 brokers Wednesday afternoon, also eliminates a penalty that sharply cut base pay for advisers whose productivity fell…"Merrill Lynch to raise pay for top-performing brokers in 2018"
LONDON – Britain’s financial watchdog has fined Bank of America’s Merrill Lynch investment banking arm 34.5 million pounds ($45.5 million) for its third transaction reporting failure in just over a decade. The Financial Conduct Authority said the bank failed to have adequate oversight arrangements, undertake testing or allocate enough staff to properly meet reporting obligations for derivatives trading between February 2014 and February 2016. The bank agreed to settle at an early stage in the…"UK watchdog fines Merrill Lynch 34.5 million pounds for reporting failure"
– Bank of America Corp beat expectations with a 15 percent rise in third-quarter profit on Friday as the second-largest U.S. lender kept a tight leash on costs and benefited from higher interest rates. Chief Executive Brian Moynihan’s years-long effort to streamline the bank’s sprawling operations and keep its costs in check are finally bearing fruit as the Federal Reserve raises borrowing costs. The lender’s large stock of deposits and rate-sensitive mortgage securities make it…"BofA profit rises on higher rates, lower costs"