Bank of America Directs $300 Million of Its $1 Billion, Four-Year Commitment to Advance Racial Equality and Economic Opportunity

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$25 Million in Support of Jobs Initiative;

$25 Million in Support of Community Outreach and Initiatives;

$50 Million to Minority Depository Institutions;

$200 Million to Minority Entrepreneurs, Businesses and Funds

On June 2, Bank of America made a $1 billion, four-year commitment to advance racial equality and economic opportunity. Today, the company is announcing its initial progress by directing one-third, or $300 million, of its $1 billion commitment to four key areas across 91 U.S. markets and globally: $25 million in support of jobs initiatives in Black and Hispanic/Latino communities, $25 million in support of community outreach and initiatives, $50 million in direct equity investments to Minority Depository Institutions (MDIs), and $200 million of proprietary equity investments in minority entrepreneurs, businesses and funds. The $1 billion, four-year commitment is being overseen by Anne Finucane, vice chairman of Bank of America and head of Environmental, Social and Governance (ESG), Capital

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Coal India, IndusInd Bank, Jindal Steel, LIC Housing Finance, DHFL, Ashok Leyland

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Trends in COVID-19, SC’s hearing on loan moratorium extension and Services PMI data for August will be tracked


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Trends in COVID-19, SC’s hearing on loan moratorium extension and Services PMI data for August will be tracked

Nifty futures were trading just 10.55 points or 0.09 per cent up at 11,575.20 on Singaporean Exchange, indicating a tepid opening for BSE Sensex and Nifty 50 on Singaporean Exchange. Investors will keep a tab on India-China tensions. On Wednesday, India banned 118 more Chinese apps including PUBG. Besides, trends in COVID-19, SC’s hearing on loan moratorium extension and Services PMI data for August will be keenly tracked. “Markets are trying to digest the recent negatives however we feel traders should continue with a cautious view and prefer hedged bets. In absence of any major event, the India-China broader dispute and performance of world markets would continue to dictate the trend,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Stocks in focus today:

Coal India:

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Air Lease Corporation Chief Financial Officer to Speak at 10th Annual Deutsche Bank Aircraft Finance & Leasing Conference

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Air Lease Corporation (“ALC”) (NYSE: AL) announced today that Gregory B. Willis, Executive Vice President and Chief Financial Officer, will be presenting at the Deutsche Bank 10th Annual Aircraft Finance & Leasing Conference on Wednesday, September 9th, at 2:45pm Eastern Time. The event is taking place virtually this year, and the presentation will be broadcast live through a link on the Investors page of the Air Lease Corporation website at www.airleasecorp.com. Alternatively, virtual attendees may access the webcast directly via this link: Deutsche Bank 10th Annual Finance & Leasing Conference. Please visit the website prior to the webcast to register, download and install any necessary audio software. Any presentation materials utilized for this speaking engagement will be posted in advance of the presentation time to the Investors section of the Air Lease website at https://www.airleasecorp.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of

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Discovery Chief Financial Officer Gunnar Wiedenfels to Present at the 2020 Bank of America Media, Communications and Entertainment Conference

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TipRanks

3 “Strong Buy” Dividend Stocks Yielding Over 6%

The bullish trend, which has been going on five months now, continues. The S&P 500 and NASDAQ set a new all—time high, and the Dow Jones is holding above 28,000, a level it has not seen since the end of February.But what goes up, must come down; even Superman must come back down to ground. This is true in the markets, too, and this basic fact of life is planting a seed of unease in some investors’ minds. That unease may only just be stirring, but it’s real, and it has sparked some interest in the classic defensive stock: high-yield dividend payers.These are almost a ‘traditional’ move for investors looking to protect their portfolios. High-yielding dividend stocks are less volatile than most of their peers. And the dividend payment ensures a steady income stream for investors. In effect, the return is

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There’s an Excellent Reason Buffett Keeps Buying Bank of America Stock

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a sign on a window: The logo of Bank of America in modern office building in Beverly Hills.


© Source: Tero Vesalainen / Shutterstock.com
The logo of Bank of America in modern office building in Beverly Hills.

Renowned investor and in Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) CEO Warren Buffett is known for really liking a handful of mega-cap names. Bank of America (NYSE:BAC) is among them, and Buffett’s been known to own sizable quantities of BAC stock.



a sign on the side of a building: The logo of Bank of America in modern office building in Beverly Hills.


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The logo of Bank of America in modern office building in Beverly Hills.

Perhaps it could be argued that Buffett likes bank stocks in general and doesn’t have any particular preference for BAC stock. After all, Berkshire has been known to take positions in big-bank names like Wells Fargo (NYSE:WFC), JPMorgan Chase (NYSE:JPM) and Goldman Sachs (NYSE:GS).

A recent U.S. Securities and Exchange Commission Form 13-F filing, however, shed some new light on what Buffett might

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World Bank Group Exceeds 2020 Climate Finance Target for 3rd Consecutive Year – $21.4 Billion in Funding for Climate Action – Malawi

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STORY HIGHLIGHTS

  • In fiscal year 2020, the World Bank Group allocated nearly $21.4 billion to climate-related investments, surpassing its climate-finance target for the third year in a row.

  • Bank Group climate finance exceeded $83 billion over the 5 years that the first Climate Change Action Plan (2016-2020) was in effect.

  • Three country snapshots illustrate ways in which climate change considerations were integrated into projects in Malawi, Bangladesh and Tunisia.

Facing a Development Challenge Like No Other

As countries struggle with COVID-19, they are also being hit by worsening climate impacts. Already, 2020 looks set to be the hottest year on record, potentially bringing more droughts, floods, and intense storms. All countries — particularly the poorest and most vulnerable — could face the compound impacts of climate change and COVID. Recently, India and Bangladesh were hit by the Category 5 Hurricane Amphan, forcing authorities to handle the competing goals of evacuation

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Kenya in Talks With World Bank for Budget-Support Loan

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(Bloomberg) —

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Kenya is in talks with the World Bank for a loan to provide further budget support, according to Treasury Secretary Ukur Yatani.

The East African nation’s government and the lender are “still discussing policy areas” to be covered by the financing and are yet to agree on the amount, Yatani said. The loan “doesn’t look likely for this financial year,” he said Tuesday in a text message.

The World Bank in May approved $1 billion in budget support for Kenya, which followed a $750 million package approved in 2019. The government will spend the money on subsidized agricultural inputs, affordable housing and improving transparency in public financial management, the lender said at the time.

This will be the third time Kenya takes up a so-called development policy operation loan from the World Bank. It is a tool used to provide financing to help countries plug budget

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An activist central bank? Dems push the Fed to fight racial inequality

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The Fed’s new plan entails keeping interest rates low for as long as it takes to employ as many people as possible, though it may take years before that policy begins to benefit the most financially vulnerable. It’s an acknowledgment that rate hikes in previous business cycles, intended to head off inflation, have caused some people to miss out on the benefits of economic growth. Disproportionately, those people have been minorities.

“The entire 1980s under [former Fed Chairman] Paul Volcker and his war on inflation, each and every month the Black unemployment rate was above 10 percent,” said William Spriggs, a professor of economics at Howard University and the AFL-CIO’s chief economist. “Black America was forced to live an entire decade in a depression.

“Black America was the easiest group of folks to make understand what it means when you never let the economy return to full employment,” he added.

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A Big Pension Sold Berkshire Hathaway and Bank of America. Here’s What It Bought.

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One of Canada’s largest pension managers, Public Sector Pension Investment Board, sold Berkshire Hathaway and Bank of America stock in the second quarter. It bought Citigroup stock, and initiated a position in Virtu Financial.


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One of Canada’s largest pension managers made big changes in its U.S.-traded investments in the second quarter.

Public Sector Pension Investment Board sold

Bank of America

(ticker: BAC) and

Berkshire Hathaway

(BRKb) stock, bought

Citigroup

(C) stock, and initiated a position in

Virtu Financial

(VIRT). PSP, as the pension manager is known, disclosed the trades, among others, in a form it filed with the Securities and Exchange Commission.

PSP, which managed $129 billion as of March 31, declined to comment on the stock trades.

The pension manager halved its investment in Bank of America by selling 1.07 million shares to end the second quarter with 1.11 million shares of the banking

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Britain’s Central Bank Could Cut Rates Below Zero, Chief Says

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Here’s what you need to know:

Credit…Daniel Leal-Olivas/Agence France-Presse — Getty Images

The Bank of England’s new head, Andrew Bailey, said Friday that his central bank was “not out of firepower,” noting that it could cut interest rates below zero if necessary.

Mr. Bailey, who started his job in March and was delivering a speech at the Kansas City Fed’s virtual Jackson Hole symposium, underlined that he and his colleagues saw negative rates as a possible tool to stoke economic growth at a time when interest rates were already at very low levels across advanced economies.

The central bank has “made clear that our box does include other tools, including the possibility of negative rates,” Mr. Bailey said. “We are not out of firepower by any means, and to be honest it

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