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Shareholders bash Bank of America management

NEW YORK — Shareholders and home loan customers ran roughshod over Bank of America’s management Wednesday, as its chief executive said it was still struggling with its mortgage portfolio in a deeply troubled housing market. “We are a much stronger company than last year,” CEO Brian Moynihan said at the…

China orders state-owned firms to pay more money

China has ordered major state-owned companies to divert more of their profits to the central government, giving Beijing more money to spend on priorities such as education, healthcare and the military. The finance ministry announced the increase in dividend payments on Thursday as Beijing seeks to improve social services and…

President Obama, British PM Cameron to discuss the trouble with BP

With tensions simmering on both sides of the Atlantic, BP’s handling of the Gulf of Mexico oil spill is set to top the agenda of talks Saturday between US and British leaders. The White House said that President Barack Obama is to call British Prime Minister David Cameron from the…

CEO: BP will make good on $10 billion in profit payouts to shareholders, despite spill

BP’s shareholders may receive more this year from the company’s coffers than those affected by the spill in the Gulf of Mexico will receive in their lifetime. BP CEO Tony Hayward has indicated that he will go ahead with massive dividend payouts to shareholders in the aftermath of the worst…

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