Bank of America CRACKS 4% While Dow 30 Giants Get MAULED
Bank of America Corporation (NYSE:BAC): Layoffs in the financial services industry increased in May, says the Wall Street Journal. Kelly Eggers at career resource firm Fins.com., pointed to the monthly planned layoffs report from the outplacement firm Challenger, Gray & Christmas in Chicago, which reports that layoffs at banks, brokerages and other financial institutions jumped from 1,768 in April to 4,424 in May. So far in 2012, there have been 17,284 sector layoffs.
General Electric Co. (NYSE:GE): GE Capital CEO Michael Neal told an investor conference that, “We thought Europe was going to be this bad, and we weren’t disappointed”, adding that Europe’s troubles will have an impact on the company’s profitability, but that the risk is “manageable, says a Reuters report.
Intel Corporation’s (NASDAQ:INTC) Intel Capital reveals investments in two Southeast Asian companies: Singapore-based Reebonz.com and Hanoi-based Vietnam Communications Corporation, or VC Corp. The new stakes amount to around $17 million, and support the continuing strategy of engaging local online experiences to help boost the adoption of technology, and increased high speed broadband usage across the region.
JPMorgan Chase & Co.’s (NYSE:JPM) recent trading fiasco will be the subject of an expanded investigation by Federal regulators, who will use new power gained in the Dodd-Frank financial overhaul law, according to sources to the Wall Street Journal.
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