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Stock Market & Financial Investment News

News Breaks
February 11, 2013
19:29 EDTBKBNY Mellon will appeal U.S. Tax Court ruling
BNY Mellon issued the following statement in response to a ruling published by the U.S. Tax Court regarding the IRS's disallowance of certain foreign tax credits claimed for the 2001 and 2002 tax years: "We will appeal the court's decision. We continue to believe the tax treatment of the transaction was consistent with statutory and judicial authority existing at the time. As a result of the ruling, BNY Mellon expects to take an after-tax charge of approximately $850M during the first quarter of 2013. After taking the charge, the company expects it will continue to be well capitalized and its Basel III Tier 1 common equity ratio will be impacted by approximately 55 basis points. At December 31, 2012, our Basel III Tier 1 common equity ratio was 9.8%."
News For BK From The Last 14 Days
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October 24, 2014
08:02 EDTBKBNY Mellon unit gets nod for sale of Chinese jv stake, Reuters reports
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October 23, 2014
09:41 EDTBKBNY Mellon names Wiener Chief Risk Officer
BNY Mellon appointed James Wiener senior executive vice president and Chief Risk Officer for the company, effective November 24. Wiener joins BNY Mellon from Oliver Wyman Group.
October 22, 2014
06:16 EDTBKBNY Mellon's Hong Kong unit to launch wealth management strategy, FT says
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October 20, 2014
06:33 EDTBKBNY Mellon upgraded to Neutral from Sell at Goldman
Goldman upgraded BNY Mellon to Neutral based on balanced risk/reward and progress on costs. Price target is $34.
October 17, 2014
06:36 EDTBKBNY Mellon increasing high quality liquid assets in Q4
In Q4, BNY Mellon is continuing to reduce interbank placement assets and increasing its high quality liquid assets in the securities portfolio. The anticipated revenue as a result of these tactical actions should mitigate the impact on net interest revenue as a result of the European Central Bank's reduction in their deposit rate to negative, and the resulting impact on lower reinvestment rates across the euro yield curve; as well as, prolonged low reinvestment rates in the U.S.
06:34 EDTBKBNY Mellon reports Q3 EPS 93c, consensus 61c
Reports Q3 revenue $3.78B, consensus $3.98B. Reports Q3 book value per share $30.80. Reports Q3 Tier 1 capital ratio 15.8%. Reports Q3 AUM up 7% to $28.3T.
October 16, 2014
15:26 EDTBKNotable companies reporting before tomorrow's open
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