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Bank of America may cut up to 400 U.K. jobs

Bank of America may cut up to 400 U.K. jobs Bank of America Corp. could cut as many as 400 jobs in the United Kingdom as part of its Jan. 1 acquisition of MBNA Corp., the Charlotte bank told employees in that country last week.To meet regulatory requirements, Bank of America told workers it could eliminate 100 to 400 positions, 250 of which are currently vacant, spokeswoman Alex Liftman said. The jobs wouldn't be cut until spring. Bank of America has said it plans to eliminate 6,000 positions as part of its takeover of the credit card issuer, but has given few

NPIL plans acquisition in UK, N. America

NPIL plans acquisition in UK, N. America Pharmaceutical major, Nicholas Piramal India Ltd (NPIL) on Monday said that the company was looking for acquisition in United Kingdom and North America to expand its overseas operation. "We are looking at acquisition in UK and North America," Chairman NPIL, Ajay G Piramal said on the sidelines of India Economic Summit 2005. "We are not looking for acquisition to make generic copies of existing drugs but we are interested in process development and manufacturing new molecules through the acquisitions," he said. More:

Bank of America to close Sunday on $35 billion deal for MBNA

Bank of America to close Sunday on $35 billion deal for MBNA It'll happen on a quiet Sunday morning, the first of the new year - definitely not banker's hours. But that might just be the perfect time for Bank of America Corp. to complete its $35 billion acquisition of MBNA Corp., because there won't be much - if anything at all - for consumers to notice once the deal is done. When the paperwork is complete, the nation's second-largest bank will have 40 million active credit card accounts on its ledger, making it one of the leading worldwide payments-services companies and issuers

Bank of America buys algorithm trading specialist

Bank of America buys algorithm trading specialist Bank of America Corp. (BAC.N: Quote, Profile, Research), the No. 2 U.S. bank, on Monday said it had bought Financial Labs LLC to boost its use of algorithm-driven electronic trading in foreign exchange and into other asset classes. Terms of the deal were not disclosed. "Building on our success in electronic trading in equities, the Financial Labs acquisition accelerates our already strong momentum in foreign exchange electronic trading, and positions us to extend our expertise into other markets," Mark Werner, head of Global Markets, said in a statement. Algorithmic trading is a sophisticated electronic

Bank of America to cut online stock trade fees

Bank of America to cut online stock trade fees Bank of America Corp.'s retail brokerage unit said on Thursday that it was cutting online stock-trading fees for customers by up to 75 percent, to as low as $5 a trade. Investors with Bank of America (BAC.N: Quote, Profile, Research) checking accounts can now buy or sell shares online for $7 or $10 a trade, depending on the type of checking account they have. Affluent clients using Bank of America's wealth management services can now make trades for $5. Customers who only have a relationship with Bank of America Investment Services online can make trades