BankAmerica and BankBoston disclose trading losses stemming from Russia
Article Abstract:
BankAmerica Corp. and BankBoston Corp. reported trading losses as a result of the economic troubles plaguing Russia. On August 28, 1998, BankAmerica's stock fell 5.7% to close at $69.5625 in New York Stock Exchange composite trading. BankBoston's stock fell 7.7% to $36. Both banks have significant exposure to the Russian economy. The stock value of other US banks linked to the Russian economy also dropped.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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BankBoston alters structure, tightens controls at unit
Article Abstract:
BankBoston Corp. unveiled a reorganization throughout the company. The reorganization entails a reshuffling at the management level of its struggling private-banking business. The reorganization is seen as an important move toward increasing controls over BankBoston's private-banking operations. Those operations are being probed by federal investigators in connection with several questionable loans.
Comment:
Unveiled a reorganization throughout the company
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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State Street settles one of bias complaints
Article Abstract:
State Street Corp. settled another complaint of alleged workplace bias. The bank has had no less than seven such cases since 1992. The bank won three of these cases and settled two including this latest case. The latest case was brought by Lisa Chui, who is of Asian extraction and alleges sex and racial bias on the part of the bank.
Comment:
Settled another complaint of alleged workplace bias
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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