World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
BofA Cashes Its China Chips
Keywords:
Tags:
Bank of America plans to sell its $8 billion stake in China Construction Bank. Bank of America will post a $3.3 billion gain on the sale of these shares. This lowers Bank of America's stake in China Construction Bank to 5% from 10%. Buyers include Temasek Holdings of Singapore. Bank of America's new CEO Brian Moynhan is trying to sell noncore assets to bring the bank closer to meeting new reserve capital requirements set by the Federal Reserve. These steps include selling its consumer credit card unit in Canada, and plans to sell other non-U.S. credit card units. Warren Buffett recently made a $5 billion investment in Bank of America. Restructuring of consumer units will lead to job reductions of 10,000. Earlier this year the bank made 6000 job reductions.
Bank of America strategies 2011-2015
08/30/2011
Grouped Articles
Wall Street Journal 08/30/2011
Bank of America Gets Down to Business
Wall Street Journal 07/17/2013
Strong Trading Revenue Boosts Bank of America's Profit
Wall Street Journal 07/18/2013
Bank of America Profit Climbs, Helped by Cost-Cutting Progress
Wall Street Journal 01/17/2014
Bank of America's High-Class Problem
Wall Street Journal 01/17/2014
BofA Faces Steeper Climb Up Capital Hill
Wall Street Journal 05/19/2014
Bank of America's difficult financial position- 2011-2013
08/24/2011
Declining share price and increasing yields on bonds issued by Bank of America in 2011.
Grouped Articles
Bank of America’s Woes Test ‘Fixer’ CEO
Wall Street Journal 05/15/2015
Wall Street Journal 08/24/2011
Buffett Bets $5 Billion on BofA
Wall Street Journal 08/26/2011
Wall Street Journal 08/26/2011
Wall Street Journal 08/30/2011
BofA Faces Fresh Mortgage Suit
Wall Street Journal 08/31/2011
Warren Buffett's 2011 investment in Bank of America and IBM
08/26/2011
Grouped Articles
The Oracle of Omaha, Lately Looking a Bit Ordinary
New York Times 04/05/2014
Bank of America’s Woes Test ‘Fixer’ CEO
Wall Street Journal 05/15/2015
Warren Buffett Has an Image Problem
Wall Street Journal 11/13/2015
Buffett Bets $5 Billion on BofA
Wall Street Journal 08/26/2011
Wall Street Journal 08/26/2011
Wall Street Journal 08/30/2011
Bank of America asset sale of holdings in China Construction Bank
08/30/2011
Grouped Articles
Wall Street Journal 08/30/2011
Chinaâs Sovereign Wealth Fund Buys Shares in Major Banks
New York Times 10/10/2011
Goldman's and Bank of America's holdings in China's banks
06/16/2011
Holdings in China Construction Bank. Plans to sell $8 billion of Bank of America's stake in China Construction Bank to Singapore's Temasek Holdings and other buyers.
Grouped Articles
China Banks Keep the Fees Flowing
Wall Street Journal 12/27/2013
Overlooked Treasure for BofA in Chinese Bank
Wall Street Journal 06/16/2011
Wall Street Journal 08/30/2011
Chinese Banks Raise Cash to Cushion Against Bad Debts
Wall Street Journal 09/28/2011
Chinaâs Sovereign Wealth Fund Buys Shares in Major Banks
New York Times 10/10/2011
Bank of America to Sell Stake in Chinese Lender
New York Times 11/15/2011
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us