Here's a look at the banking and finance headlines this morning:
- Bank of America Corp. CEO Brian Moynihan is expected to tell his board the bank is on the right track during a three-day strategy meeting this week, the Wall Street Journal reports.
- Questions arose about the future of Occupy Wall Street after a police raid evicted protesters from a Manhattan park, the New York Times writes.
- Stocks fell this morning as worries the European debt crisis poses dangers to the global economy intensified, Reuters reports.
- A fake Google+ account under Bank of America's brand name posted a series of mocking updates last week. The Huffington Post says it looks bad for BofA, but worse for Google.
- Job cuts at Bank of America continue: Bloomberg reports the lender cut part of its top-ranked Merrill Lynch & Co. equities division in Europe and reduced its sales and trading team in Dubai by 40 percent.
What do you think about this morning's news? Will Occupy Wall Street wither? Should Bank of America stay the course?
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2 comments:
In think your column is a waste. You only seem to want to dig up things on BofA. If you are a banking watch why not report on the other banks and financial businesses in the city as well. You gush about how "catchy" the Wells celebration is, but you do not report that Wells too has started to hand out layoffs ...which may be just as significant as BofA. You do not say anything about Ally. They do not charge fees like the big banks but you still want to support people moving money to credit unions that do not pay taxes like the banks. You do not mention that Ally is starting to slow down it's hiring due to financial performance.
You do not even touch the subject of Dodds-Frank and it's impact to banks and the long term effect to Charlotte. You do not report that merchants are not lowering costs to consumers since they do not have to pay higher swipe fees.
Either be less biased, or be more aware of an industry that
fuels this city. Start doing some meaningful reporting . Start connecting the dots.....or just go back to watching "catchy" videos.
Anonymous 8:34, thank you for reading and I'm sorry you're disappointed with the blog so far. The topics you cite are definitely issues that we want to report on (though they will likely show up on the main Observer site and not here on the blog). If you have knowledge of the layoffs or Ally, please give either Kirsten or I a call.
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