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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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September 1, 2015
08:08 EDTBKBNY Mellon selloff off on NAV calculation error overdone, says Morgan Stanley
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August 30, 2015
19:56 EDTBKBNY Mellon may not fix pricing glitches before Monday, WSJ says
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August 28, 2015
06:20 EDTBKBNY Mellon: System performance for InvestOne platform improved on Thursday
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August 27, 2015
06:20 EDTBKBNY Mellon trying to figure out fund computer glitch, FT reports
Bank of New York Mellon has experiencing problems with its mutual funds and exchange traded funds possibly reporting inaccurate prices, the Financial Times reports. The bank's computer systems are used to calculate net asset values of many funds and have suffered several problems since the start of the week, the report says. The resulting confusion might take days to clear up, and it is unclear whether investors are buying or selling funds at inaccurate prices, the report says. Reference Link

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