BOFA CHIEF FACES CRUCIAL CALL WITH INVESTORS
Brian Moynihan, chief executive of Bank of America, faces a crucial conference call with investors today, after a sharp decline in the bank’s share price and questions over its exposure to mortgage losses and litigation.
The Daily Telegraph
AOL SHARES TUMBLE AFTER AD LIFT FALLS SHORT OF EXPECTATIONS
Shares in AOL hit an all-time low yesterday, despite increasing quarterly advertising revenues for the first time in three years. The group grew advertising revenues by 5pc to $319m (£197m) for the quarter to 30 June.
FALL IN CITY RECRUITMENT AS LLOYDS AXES MORE OF ITS STAFF
City recruitment fell 11 per cent in July, confirming warnings from bank bosses that they would slash headcounts. Separately, Lloyds said it would axe 1,300 head office, brand and business support roles.
THE WALL STREET JOURNAL
WELLS SNAGS IRISH PORTFOLIO
Wells Fargo & Co is the winning bidder for Bank of Ireland’s $1.4bn US commercial-real-estate loan portfolio, according to people familiar with the matter, marking the latest sale of US real-estate debt by a troubled Irish bank.