Bank Of America

Satish Arcot, a two-decade financial services veteran, will join the bank toward the end of the year as a Mumbai-based managing director,

India vital to BofA’s strategy; plans to expand its GPS business in the country

India's rapid evolution of payments infrastructure — a combination of scale, digitisation and regulatory maturity — makes it one of the most sophisticated markets globally, Winnie Chen, head of Asia Pacific Global Payments Solutions at BofA, tells Moneycontrol

BofA likely to face adjudication proceeding over insider trading charges

Two investment bankers of BofA who were under investigation and quit after an internal enquiry by the bank will also face adjudication proceedings.

BofA seeks to rebuild India investment banking team post probe, resignations

The Wall Street firm is in talks with senior bankers at rival firms to fill key deal advisory roles

Bank of America set to appoint Vikram Sahu as new country head for India

Sahu will replace Kaku Nakhate as the India country executive.

Bank of America’s India Head Kaku Nakhate said to be leaving position after 15 years

The bank has tapped Vikram Sahu, currently head of its global equity research, to succeed Nakhate as the India country head, the memo shows. Sahu will relocate from New York in the second quarter.

BofA sees Nifty at 26,500 in 2025; expects broader market to underperform

Despite the recent correction, BofA said that Nifty continues to trade at expensive levels across valuation metrics, leaving little room for further expansion

Three BofA bankers in India leave amid probe into stock sale, source says

A whistleblower complaint alleged that Bank of America shared non-public information with some investors before it sold roughly $200 million worth of stock for some clients in India, according to a Wall Street Journal report in September.

BofA projects 12% downside for Nykaa on slower margin growth

BofA believes that Nykaa's beauty and personal care (BPC) segment's margin improvement may lag behind market expectations.

Buffett cuts BofA stake below 10%, letting him trade in secret

Bank of America’s stock has underperformed throughout the liquidations. It had been No. 1 in the 24-company KBW Bank Index this year as of July 16. Since then, it has been the second-worst performer. In the latest round, Berkshire unloaded $382.4 million of shares over three days.

Bank of America accused by whistleblower of sharing nonpublic information, WSJ reports

"We take complaints seriously and thoroughly investigate them," a Bank of America spokesperson told Reuters. "In instances where we conclude there has been inappropriate behavior, we take disciplinary action."

Buffett's Berkshire offloads more shares in Bank of America

The sale of 18.7 million BofA shares has added to Berkshire's rising cash pile, now at $277 billion.

World Street | CEO compensation climbs, Stellantis slashes staff, JPMorgan's new AI tool, Marriott's motel misstep, and more

From British CEOs seeing record pay amid growing wage debates, to JPMorgan Chase advancing with AI tools, here's a look at some of the major developments from across the world.

India will lower rates by 100 bps by March 2026, Bank of America official says

"Once inflation reaches 4%, and based on the real rate assumption, there is chance for repo (rate) to reach 5.50%," Vikas Jain, head of fixed income, currencies and commodities at the bank said in an interview on Tuesday. "Core inflation is consistently showing lower prints."

Buffett's Berkshire trims BofA stake further by $3 billion in July

Despite the stake reduction, Buffett's Berkshire still holds shares worth $39.5 billion at Monday’s price.

Bank of America says cooling economy will crack big tech rally even more

The strategist — who is bullish on bonds for the second half of 2024 — has said signs of an economic slowdown would fuel a rotation into stocks that have lagged behind the pricey tech mega-caps this year.

Foreign banks are snapping up short-term Indian bonds, Bank of America says

Foreign banks bought nearly 600 billion rupees ($7.2 billion) in all maturities since the start of June even as state-run banks and mutual funds sold, according to Clearing Corp. of India data. CCIL doesn’t break down the data by maturity.

Why did Vodafone Group sell 18% stake in Indus Towers now?

'Vodafone has been negotiating with the lenders for an extension for the repayment deadline while simultaneously also trying to refinance a large outstanding loan for which it had received an ultimatum from lenders,' sources told Moneycontrol.

Cheaper Indian rupee boosting its lure as carry trade: Bank of America

The rupee has become one of the least volatile currencies in emerging markets, aided by a long interest-rate pause by the Reserve Bank of India and record foreign exchange reserves.

BofA raises Vodafone Idea's rating to 'Neutral' on tariff hike prospects

BofA expressed increased optimism about the near-term momentum for the telecom sector, expecting tariff hikes to reach 20-25 percent compared to the brokerage's earlier projection of 10-15 percent

MNCs rewarded with high multiples in India, makes sense to monetise partial stake: BofA

The Indian market has delivered returns superior to virtually every market in the world, be it on a 3-month, 1-year, 5-year, or 10-year basis, said Raj Balakrishnan, Managing Director, Co-Head of Investment Banking, Bank of America.

A Fed cut in June, rupee at 82 could add to India’s appeal: Bank of America's Adarsh Sinha

Everything we've heard from Fed officials so far suggests the median would still be three rate cuts and the June cut is still on the table

Tech stocks see biggest weekly outflow on record,says BofA

Tech stocks saw $4.4 billion of outflows in the latest week, their "largest outflow ever" and the first outflow in nine weeks, BofA said in its weekly roundup of fund flows in and out of world markets, without specifying how far back its figures went.

RBI imposes monetary penalty on HDFC Bank, Bank of America and others for rule violation

RBI had sent show cause notice to both of these banks before taking the action.

Global stocks steady, lifted by Europe; dollar dips on China selling

Wall Street opened mixed, with the tech-heavy Nasdaq and the S&P 500 lower on investor caution a day before the release of the Consumer Price Index for June.