The medical issue is important as long term shortRadiohead succeeds the union of the oppositesThis time the proportion is mounted to 8311 million of which 45 were medium dependentThe Spain went to the same effect but more recentlyIt will be very hard says a top of the listVery bad omen for a few weeks of midterm legislative elections50 at the meeting of June 2010 rose above 50But when they will address the Outlook for 2011 iThe first two parameters are less useful in this wayAWall Street, a legend long ran on the former boss of Bank of America, the flamboyant Hugh McColl Jr. This former "marine" have always kept in his pocket a list of rivals that Bank of America should go beyond access to the rank of first American Bank and world fact. At the top of this list: Citigroup. Hugh McColl will have not had time to delete all names from his list. It left Bank of America in 2001 the market capitalization of it was less than half that of Citigroup.
Five years later, his dearest wish is yet to achieve. Bank of America is poised to wrests first World Bank by market capitalization to Citigroup. Yesterday, only 2 still separated them on Wall Street, Citigroup weighing 243 billion $ 236 billion to Bank of America. The latter could pass at the top of one time to time. He has also done very briefly during the month of August. Five years, the course of Bank of America won 123 when that Citigroup has stagnated, to the chagrin of the shareholders of the latter ("Les Echos" from July 20).
If one reasons in terms of assets, Bank of America is still ranked behind Citigroup: 1,450 billion for one, 1.630 billion for the other. The two Americans are also advanced on this test by the Japanese Mitsubishi-UFJ, newly formed, and its 1.900 billion in assets. However Bank of America has exceeded for the first time his eternal rival in terms of results on a quarter. In the second quarter, he reached a net profit of $ 5.27 billion in Citigroup 5.48 billion.
The conquest of Europe
Nice revenge for this bank based in Charlotte, North Carolina, long decried for its lack of international, and which is now fear to all competitors, including this side of the Atlantic. Friday, a small outbreak of fever suddenly seized of British Lloyds TSB and Barclays, noises on the interest that they would be Bank of America. According to the American channel CNBC, the successor of Hugh McColl, Kenneth Lewis, would indeed entrusted to business investment bankers that he was concluding a transaction process of "transforming" America Bank. At the headquarters of Charlotte, is says that Kenneth Lewis had never held such things.
But it is clear that Bank of America did not remain there. Twenty-five years, he built banging of mergers and acquisitions some 70 officially , operation lighthouse dating back to 1998 with the approximation of NationsBank and BankAmerica, for $ 57 billion. Since 2001, Kenneth Lewis has continued, and even accelerated, this strategy: takeover of FleetBoston in 2003 to 47 billion, the issuer of cards MBNA 34 billion in 2006. Bank of America has become a real heavy weight in the United States focusing on traditional trades of a bank network. He now manages about 10 of the deposits of American households, and legislation prohibited him to do a new acquisition to increase this share. It remains therefore two solutions to grow: develop its other activities, including the Investment Bank, or hunt outside its borders.
Bank of America is also streamlining its international business. Its policy is to shed activities in the countries where it believes no longer able to gain market share. Left to get in exchange for shares in foreign groups. This is what he has just made on two occasions in Hong Kong and South America. Before the conquest of Europe
