Appeals court rejects eviction of Bank of America securities unit
NEW YORK A New York appeals court has refused to permit the eviction of the Bank of Americas securities unit from its Manhattan offices.
The ruling comes in a case in which landlord Solow Building Company tried to evict Bank of America because former broker Theodore Sihpol had been charged with illegal activity.
Bank of America is based in North Carolina.
A spokesman for Solow said he had no comment.
Source : wwaytv3.com
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Bank of Nova Scotia, Canadas third- largest bank by assets, said profit climbed for the 13th straight quarter on higher earnings from its international unit.
Net income for the third-quarter ended July 31 rose 19 percent to C$936 million ($842 million), or 93 cents a share, from C$784 million, or 77 cents, a year earlier, the Toronto- based bank said today in a statement sent by PR Newswire.
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MOVES-Morgan Stanley, Bank of America, others
The following financial service industry appointments and moves were announced on Monday. To inform us of other job changes, please e-mail: moves@reuters.com
Morgan Stanley hired former Wachovia Securities and Merrill Lynch executive Jeffrey Gelfand as the wealth-management unit's chief financial officer, according to an internal memo.
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More: today.reuters.com
Bank of America plan to sue Parmalat
Bank of America said today it won a court ruling allowing it to pursue a lawsuit seeking more than $1 billion in damages against bankrupt Italian food giant Parmalat.
The banking giant has accused Parmalat's former management of fraud, conspiracy and lying about its finances.
The claim will not affect Paramalat's own $10bn suit against the bank for its alleged role in the firm's collapse.
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More: rte.ie
Bank of America completes acquisition
Bank of America Corp completed its acquisition of MBNA Corp in a deal worth about $US34.2 billion ($A46.77 billion), the second-largest US bank said.
Bank of America now has 40 million active credit card accounts on its ledger, making it one of the leading worldwide payments-services companies and issuers of credit, debit and prepaid cards based on total purchase volume.
"Today marks the start of an exciting new era for Bank of America in credit cards," said Kenneth Lewis, chairman and chief executive officer.
"The combination of Bank of America's distribution platform and customer base with MBNA's products, affinity
