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Bank of America Corporation (NYSE:BAC): The key interest rate for more than $500 trillion of securities worldwide will be replaced by a benchmark that will be subject to higher government control, said 45 percent of respondents to a quarterly Bloomberg Global Poll. Additionally, they predicted that the London interbank offered rate, Libor, will be replaced by a more regulated model inside of five years.
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The Walt Disney Company’s (NYSE:DIS) Disney Interactive announced on Thursday a restructuring that resulted in the loss of 50 jobs, says The Hollywood Reporter. This move is 18 months after an earlier restructuring caused a layoff of 200. Disney Interactive was the only segment to post a loss of year-over-year revenue in the company’s most recent quarterly report, in which revenue was recorded at $196 million for the first nine months of the fiscal year, representing a decrease of $55 million from the previous year.
General Electric Company’s (NYSE:GE) GE Capital Corporate Finance reported that it is administrative agent on a $75 million asset-based credit facility for Acme Lift Company, LLC, which is a top wholesale rental firm for aerial work platform equipment. This new loan will be used to refinance existing debt and also to support future growth. GE Capital Markets served as the only bookrunner.
International Business Machines Corp. (NYSE:IBM) has announced a new set of services that will target chief marketing officers and chief information officers to increase engagement efforts among selective and digitally empowered customers. The company is debuting a new set of integrated services which are designed to assist businesses in building and expanding their digital marketing presence. In addition, IBM will help businesses utilize technology as a tool through which to build more meaningful, personalized interactions across social, mobile, and online touchpoints.
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