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Brian Moynihan was impatient. It was August 2011, and the Bank of America Corp. chief executive officer was reviewing plans to impose a $5 monthly fee on debit-card users.
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By Hugh Son |
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Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, led European bank shares higher as it prepared to sell a stake in its Citizens Financial Group Inc. unit through an initial public offering.
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By Gavin Finch |
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On television, in interviews and in meetings with investors, executives of the biggest U.S. banks -- notably JPMorgan Chase & Co. Chief Executive Jamie Dimon -- make the case that size is a competitive advantage. It helps them lower costs and vie for customers on an international scale. Limiting it, they warn, would impair profitability and weaken the country’s position in global finance.
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By Bloomberg Editors |
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Despite a second consecutive year of “historic catastrophic claims,” the Amica Mutual Insurance Co. saw its bottom line increase 14.6 percent year over year in 2012.
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By PBN Staff
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More than 250,000 vehicles were damaged across parts of the United States as a result of Hurricane Sandy, the National Insurance Crime Bureau announced Thursday.
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By PBN Staff
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Bank of America Merrill Lynch said investors should buy emerging market bonds and equities as the so-called BRIC nations of Brazil, Russia, India and China post the biggest improvement in growth this year.
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By Mahmoud Kassem |
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Bank of America Corp., the second-largest U.S. lender, attracted record new assets last year to its unit-servicing retirement and other employee-benefit plans as it cross-sold products through the commercial bank, Bloomberg News said Tuesday.
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By Margaret Collins |
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Singapore’s central bank and a group of lenders are considering putting an end to the city-state’s U.S. dollar-linked interbank lending rate as regulators worldwide probe allegations of rigged benchmark borrowing costs, a person with knowledge of the matter said.
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By Sanat Vallikappen and David Yong |
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Fidelity Investments, the second- largest U.S. mutual fund company, said operating income declined 29 percent as fee pressure, low interest rates and redemptions from its active equity funds hurt revenue.
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By Christopher Condon |
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International purchases of U.S. stocks, bonds and other financial assets rose more than forecast in December as investors sought shelter from slowing global growth.
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By Meera Louis |