The almanac

UPI Almanac for Saturday Sept. 14, 2013.
By United Press International
Bank of America to review long-hours culture after intern's death

Bank of America to review long-hours culture after intern's death

LONDON, Aug. 23 (UPI) -- Bank of America Merrill Lynch said it will review its culture of long hours following the death of a German intern this week in its London office.

Sudden death of bank intern in London sparks talk of overwork

LONDON, Aug. 20 (UPI) -- The sudden death of a student working as an intern at Bank of America Merrill Lynch in London has led to Internet speculation he worked punishing hours.

Bank of America to absorb Merrill Lynch

CHARLOTTE, N.C., Aug. 17 (UPI) -- Bank of America Corp. says it can absorb Merrill Lynch & Co. into its corporate structure by the end of the year while keeping it as a separate brand.

SEC unlikely to bring charges against Magnetar Capital

WASHINGTON, Aug. 7 (UPI) -- The U.S. Securities and Exchange commission will not pursue fraud charges against hedge fund Magnetar Capital, sources told The Wall Street Journal.
White House: Time appropriate for Obama to refocus on economy

White House: Time appropriate for Obama to refocus on economy

WASHINGTON, July 22 (UPI) -- President Obama believes it is appropriate to look broadly at the state of the U.S. economy and the path the country should take, the White House said Monday.

Banks accused of colluding to protect Euro credit derivatives revenue

BRUSSELS, July 1 (UPI) -- Antitrust regulators in Europe charged 13 large banks Monday with colluding to prevent new competitors from entering the credit derivatives market.

Wall Street wary of Fed move

NEW YORK, June 27 (UPI) -- News the U.S. Federal Reserve could wind down its quantitative easing prices next year has economists debating the repercussions, some approvingly, some not.

Judge approves $2.43 billion Bank of America settlement

NEW YORK, May 4 (UPI) -- A federal judge in New York approved a $2.43 billion settlement to end claims Bank of America misled shareholders when it purchased Merrill Lynch & Co.

UPI NewsTrack Business

Markets close higher with late push ... BofA pegged as a lawsuit risk ... Bank of Japan takes bold step ... ECB leaves monetary policy intact ... News from United Press International.
BofA pegged as a lawsuit risk

BofA pegged as a lawsuit risk

NEW YORK, April 4 (UPI) -- Banking analysts said U.S. financial giant Bank of America remains at risk for lawsuits, as a federal judge is poised to consider a $2.4 billion settlement.

UPI NewsTrack Business

S&P within sight of a record close ... Fed OKs capital plans at 14 banks ... Sun Belt cities growing again ... For one at UBS, a $26M payday ... News from United Press International.
For one at UBS, a $26M pay day

For one at UBS, a $26M pay day

GENEVA, Switzerland, March 14 (UPI) -- Swiss bank UBS says it paid the new head of its investment unit $26 million to make up for the deal he left behind at Bank of America Merrill Lynch.

Venezuela reforms at risk from transition

CARACAS, Venezuela, March 7 (UPI) -- Venezuela's economic reforms program is at risk of becoming more lopsided than it is at present as national attention rivets on mourning Hugo Chavez.

UPI NewsTrack Business

Market skid turns around in late trading ... Spending cuts don't scare Wall Street ... Carlos Slim still world's richest man ... Truckers in Colombia begin strike ... News from United Press International.
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Merrill Lynch
A Bank of America branch is seen on 23rd Street and Broadway in New York on September 15, 2008. Bank of America agreed to buy Merrill Lynch for about $44 billion in a mega-deal on September 14, 2008. (UPI Photo/Laura Cavanaugh)

Merrill Lynch & Co., Inc. is a global financial services firm owned by Bank of America now known as Bank of America Merrill Lynch. The firm was acquired by Bank of America under distressed circumstances during the 2008 Financial Crisis. This article describes both the historical Merrill Lynch and its ongoing operations as a subsidiary of the bank. Merrill Lynch provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related financial services worldwide. Merrill Lynch is headquartered in New York City, and occupies the entire 34 stories of the Four World Financial Center building in Manhattan. On September 14, 2008 Bank of America announced its intention to acquire Merrill Lynch for Bank of America common stock. Under the terms of the agreement Merrill Lynch shareholders receive 0.8595 shares of Bank of America stock. Shareholders of both companies approved the acquisition on December 5, 2008 which took effect January 1, 2009.

The company was founded on January 6, 1914, when Charles E. Merrill & Co. opened for business at 7 Wall Street in New York City. A few months later, Merrill's friend, Edmund C. Lynch, joined him, and in 1915 the name was officially changed to Merrill, Lynch & Co. At that time, the firm's name included a comma between Merrill and Lynch. In 1916, Winthrop H. Smith joined the firm.

In its early history, Merrill, Lynch & Co. made several successful investments. In 1921, the company purchased Pathé Exchange, which later became RKO Pictures. In 1926, the firm made its most significant financial investment at the time, purchasing a controlling interest in Safeway, transforming the small grocery store into the country's third largest grocery store chain by the early 1930s. Following this investment, the company further increased its investment banking focus by transferring its retail brokerage services to E.A. Pierce.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Merrill Lynch."
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