BofA likely to hold vote this year on Moynihan chairmanship- source NEW YORK, July 31- Bank of America is likely to hold a shareholder vote this year to determine whether Chief Executive Brian Moynihan should be allowed to retain his title of chairman of the bank's board, a person familiar with the matter said on Friday. Bank of America announced just before its annual meeting in May that it would allow shareholders to hold a vote on...
UPDATE 1-Precious metals funds worldwide bleed $1.2 bln, most since Dec. '13 -BofA NEW YORK, July 31- Investors worldwide pulled $1.2 billion out of precious metals funds in the week ended July 29 on expectations for higher U.S. interest rates and weakness in Chinese shares, data from a Bank of America Merrill Lynch Global Research report showed on Friday. A sudden, sharp rout across New York and Shanghai markets intensified selling pressure on...
| By: Sam Forgione
UPDATE 1-Berry Plastics to buy Blackstone-owned Avintiv for $2.45 bln July 31- Plastic packaging products maker Berry Plastics Group Inc said it would buy Avintiv Inc, which makes materials used in products ranging from diapers to disinfectant wipes, for about $2.45 billion in cash from Blackstone Group LP. Berry Plastics' shares rose nearly 2 percent to $34 in trading before the bell on Friday. Avintiv has 23 locations in 14...
Indoor cycling fitness chain SoulCycle files for IPO July 30- Indoor cycling fitness chain SoulCycle Inc filed with U.S. regulators on Thursday for an initial public offering of common stock. Goldman Sachs, Bofa Merrill Lynch and Citigroup are among those underwriting the IPO, the New York- based company said in a preliminary prospectus filed with the U.S. Securities and Exchange Commission.
Dick Bove bullish on BofA and Moynihan Richard Bove, Rafferty Capital, explains why he thinks Brian Moynihan is the right man to lead Bank of America. Also Bove shares his thoughts on the departure of CFO Bruce Thompson.
Malaysian central bank grips ringgit tightly as troubles mount SINGAPORE, July 30- Protecting the ringgit from political fallout out may end up costing Malaysia more than any bailout for the debt-ridden 1 MDB state fund, given the rate at which the central bank has been using its reserves in recent weeks. On Tuesday, Prime Minister Najib Razak sacked his deputy, who had called on him to give Malaysians a better explanation of...
| By: Vidya Ranganathan