Tuesday's Headlines: Bank of America Cutting Jobs in Global Banking
Bank of America is eliminating several hundred positions in global banking and markets. The cuts equal less than 5 percent of the unit's workforce, and those affected will be informed later this week. [Charlotte Observer]
The FDIC said pay at U.S. banks may be scrutinized sooner than at foreign ones as new capital requirements are imposed. [Reuters]
Twenty percent of hedge funds globally may close during the first quarter, accoring to Merrill Lynch. [Bloomberg]
Finance majors are still in demand, despite the economic crisis.
Corporate executives could see more court time now that the SEC has been given wider powers. [Bloomberg]