Investments

Bank Of America Investment The government-appointed administrator for the troubled Italian food company, Parmalat, has filed suit in the U.S. state of North Carolina, seeking $10 billion in damages from Bank of America.

These institutions', American Development Bank, World Bank, U.S. Overseas Private Investment Corporation, U.S. Import Bank, $352 million in approved financing for 18 projects; thus, fossil fuel financing in the Americas outpaces clean energy by a ratio of 63 to 1. Most of this investment in fossil fuels has come from US taxpayers, who are unwitting underwriters of loans, guarantees and subsidies to Big Oil. Although the Americas have obtained over $22 billion in public support for fossil fuels since the Rio Earth Summit in 1992, most of this oil and gas has been exported to the U.S.

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& Company is a diversified financial services company with $482 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 6, 000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "AAA, " and Standard & Poor's Ratings Services, "AAA."

Banc Of America Investment Oct 8, 2004 (AXcess News) N. Carolina - The government-appointed administrator for the troubled Italian food company, Parmalat, has filed suit in the U.S. state of North Carolina, seeking $10 billion in damages from Bank of America (NYSE: BAC) and its subsidiaries.

Also yesterday a separate report showed that the Bank of America' quarter net income fell to $3.7 billion, its Revenue fell 12 percent to $15.93 billion and its shares had fallen 6 percent this year. Bank of America said it placed aside $2.03 billion for credit losses, up more than 73 percent from a year earlier, and nonperforming assets doubled to $3.37 billion. It mentioned that the weakened housing conditions were mainly responsible for some of the increases. Also the corporate and investment banking profit dropped by 93 percent to $100 million from $1.43 billion, hurt by $717 million of the trading and sales losses.

Banking Investment The federal district court case is the latest of several filed by administrator Enrico Bondi against financial institutions and auditors he says helped Parmalat executives conceal massive fraud and almost $18 billion debt.

by Dave Porter A syndicate of seven private equity investment banking firms have agreed to buy SunGard Data Systems for $11.3 billion, the largest buyout of a public company since 1989. If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. Membership is free. Print This Page March 28, 2005 (AXcess News) A syndicate of seven private equity investment banking firms have agreed to buy SunGard Data Systems ( SDS) for $11.3 billion, the largest buyout of a public company since 1989.

Investment Solution Strategic Details of the suit were not immediately available.The fraud was revealed in December 2003 after the insolvent food giant admitted it did not have nearly $5 billion it had claimed was in a Bank of America account.

With talks yesterday about a possible sale of the Sachsen LB, which is the state bank of Saxony, prime crisis. The SachsenLB had billions of asset backed securities in its portfolio which are now about to default on the back of the US credit woes. The SachsenLB is privatized, in contrast to most other state banks which are state owned, and its securities were backed up by the banks owners; however the clear overexposure of the bank through risky investments called for more transparency of banks investments.

Investment Banking Services Mr. Bondi has also filed billion-dollar suits against Citigroup (NYSE: CIT) and Deutsche Bank (NYSE: DB), as well as former Parmalat auditors Deloitte & Touche and Grant Thornton International.Wednesday, Italian bank Banca Intesa agreed to pay Parmalat $197 million to avoid

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Alternative Investment Source: Voice of America

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