News That Matters

thetrader's picture

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Theosebes Goodfellow's picture

~"Employers will be forced to cut workers’ pay rises from next year to make way for costly plans to enrol all staff onto a company pension, according to boss of the Government’s new retirement savings scheme."~

Ahh.., A new government Ponzi scheme, (just like the Americans)! You'd have figured the rest of the world would have learned from our mistakes. What's that bit about those not learning from history?

disabledvet's picture

We're heading straight for a series of credit events with all the "feeder stories" trying to blame Europe for their collapse. My bet is on the State of Pennsylvania. What say all of you? "what are the Fokkers trying to cover up this time?"

chunga's picture

More News That Matters - Brought to you from Asia!

Bank of America selling NYC building stake: Report

Tuesday, Oct 18, 2011 Reuters

Bank of America Corp is selling its 49 per cent stake in 4 World Financial Center in Manhattan to Brookfield Office Properties Inc., Bloomberg News reported Monday, citing a person with knowledge of the situation.

Brookfield, a New York-based real estate company, will pay US$225 million (S$283 million) to US$250 million (S$315 million) for the bank's position in the tower, which was the former headquarters of Merrill Lynch & Co, Bloomberg reported. Brookfield already controls the building.

Spokespersons for Bank of America and Brookfield declined to comment.

Bank of America, which agreed to to buy Merrill at the height of the financial crisis in 2008, has been reducing its space in the building. The Charlotte, North Carolina, bank has a tower in Midtown Manhattan that officially opened last year.

The sale is the latest move by Bank of America to shed assets as it looks to build capital to meet new international standards and to cover mortgage losses.

aldousd's picture

waiting for someone to suggest that we talk about Barack Obama's teleprompter being stolen. Wait for it...

Fuh Querada's picture

Apologies for off-topic, but incredible story developing about whistleblower Michael Woodford concerning payment of 623 Mio USD  by OLYMPUS OPTICAL COMPANY Japan ( a big Nikkei name) to an untraceable recipient in the Cayman Islands on a 2 Bio takeover deal in the UK

also various videos with interviews