BofA’s Moynihan: Trading unit faces further cost cuts

Part of the bank’s success in the 1Q came from trading stocks in the choppy environment traders like best. Equities revenue surged 38% to US$1.52 billion, compared to analysts’ expectations for US$1.18 billion. Fixed-income revenue posted a surprise 13% drop to US$2.54 billion, with the bank citing weak trading in corporate bonds. Client activity was lower compared to a year ago in part because the firm sold fewer new corporate bonds, Donofrio said.

Millennial money: student loan or first home? Millennial Money: Student loan default can gut your paycheck By KELSEY SHEEHY February 5, 2019 FILE- In this June 15, 2018, file photo, twenty dollar bills are counted in North Andover, Mass. Default on your federal student loans and the government can take up to 15 percent of each paycheck to satisfy your debt.

HSBC could announce plans to cut as many as 20,000 jobs next week, BofA’s moynihan: trading unit faces further cost cuts May 27, 2015 09:35 AM banking. Bank of America Chief Executive Brian Moynihan is considering layoffs of roughly 40,000 employees as part of a restructuring plan. Also: A discussion about President Obama’s Job Speech and one.

Excluding litigation costs, expenses fell 4 percent as the bank cut jobs and restructured. BofA said its headcount fell 6 percent from a year earlier. Moynihan, who took the top job in 2010, shook up the bank’s management in July, replacing chief financial Officer Bruce Thompson with longtime executive Paul Donofrio.

Bank of America lost 4 cents a share a year ago, when it recorded $US6 billion in legal costs. CEO Brian Moynihan called it a "solid quarter" but noted that the bank faces challenges. America made.

Further, during an investors’ conference in late May, CEO Brian Moynihan had commented that trading revenues will likely decline 8% sequentially and 10% year over year.

Bank of America profit declines.. Mr Donofrio pointed out that the bank continued to focus on cutting costs, one of Mr Moynihan’s chief priorities as CEO.. which includes the trading unit.

BofA plans $3 billion of new cost cuts; posts second-quarter profit.. The cost cuts come as the bank faces real pressure.. Revenue in the bank’s signature consumer banking unit was down 16.

One major tax deadline is here. Now, get ready for the next one Through academic innovation, a focus on the professions, and extensive. we provide a springboard for your career success and enable you to make your. Apply now. Whether you are in high school and ready to pursue your undergraduate. From supporting important philanthropic initiatives, to joining one of our 154.First Home Loan Deposit Scheme: The 3 things buyers need to know before applying for a 5 percent deposit The government has created the Help to Buy schemes including Help to Buy: Shared Ownership and Help to Buy: Equity Loan to help hard-working people like you take steps to buy your own home.. The Help to Buy: ISA pays first-time buyers a government bonus. For example, save 200 a month and we’ll add 50, up to a maximum of 3,000, boosting your ISA savings of 12,000 to 15,000.Here are South Florida’s largest office and retail sales in April Tampa is a major city in, and the county seat of, Hillsborough County, Florida, United States. It is on the west coast of Florida on Tampa Bay, near the Gulf of Mexico, and is the

Banks warn of cost cuts ahead. Some lenders say they could have to reduce expenses further to. investment-bank unit of Leucadia National Corp. reporting it had losses of $90 million across more.

BofA’s Moynihan: Trading unit faces further cost cuts Post By Lewis Contents Choppy environment traders Joint organized crime task force comprised William biography: william America ceo brian So the RBA has cut rates: What next? – finder.com.au Home Market overviews Aussie Talked Up by RBA Lowe after Rate Cut, Yen Rises as german.