On Monday, Shares of Bank of America Corporation (NYSE:BAC), gained 1.63% to $18.04.
O July 27, Bank of America has pledged to enhance the company’s current environmental business initiative from $50 billion to $125 billion in low-carbon business by 2025 through lending, investing, capital raising, advisory services and developing financing solutions for clients around the world.
Recent declaration will be highlighted at the White House’s American Business Act on Climate Pledge event, which recognizes corporations for their support of action to address climate change. The event will bring together executives from various industries as they pledge their support of a contract in advance of the climate change talks in Paris planned for later this year. The company is represented by Purna Saggurti, Bank of America Merrill Lynch chairman of Global Corporate and Investment Banking.
The company initiative and commitment focus on energy efficiency, renewable energy and transportation, in addition to addressing other important areas like water conservation, land use and waste. This expanded second commitment builds on the company’s initial environmental business initiative established in 2007 and fulfilled in 2013, four years ahead of plan.
Bank of America Corporation is a bank holding company. The company, through its auxiliaries, operates through Consumer and Business Banking; Consumer Real Estate Services; Global Wealth and Investment Administration; Global Banking; Global Markets; and Other segments.
Shares of SouFun Holdings Ltd. (NYSE:SFUN), inclined 6.58% to $7.45, during its last trading session.
Brokerage firm CLSA Downgrades its rating on SouFun Holdings Limited. The shares have been rated Outperform. Formerly, the analysts had a Buy rating on the counter. The rating by CLSA was issued on Aug 10, 2015.
The company has received recommendation from many analysts. 3 analysts have rated the company as a strong buy. The shares have been rated as hold from 3 Wall Street Analysts. 6 analysts have suggested buy for the company.
SouFun Holdings Limited operates a real estate Internet portal, and home furnishing and improvement Websites in the People’s Republic of China. The company offers marketing services on its Websites, primarily through advertisements to real estate developers in the marketing phase of new property developments, in addition to real estate agencies; and suppliers of home furnishing and improvement, and other home-related products and services.
Finally, The Bank of New York Mellon Corporation (NYSE:BK), ended its last trade with 1.14% gain, and closed at $45.26, hitting its highest level.
The funded status of the typical U.S. corporate pension plan declined, falling 1.1 percentage points in August to 86.7 percent. Liabilities raised more rapidly than assets during the month, according to the BNY Mellon Investment Strategy and Solutions Group (ISSG).
The typical U.S. corporate plan suffered from raised liabilities of 2.3 percent. This was driven primarily by Aa Corporate discount rates which fell 14 basis points over the month to 4.36 percent.
“This was the first monthly drop in Aa corporate discount rates since January; however rates remain well above starting of year levels. The typical corporate plan’s funded status remains positive despite the drop in discount rates, posting a 4.4 percent improvement for the first seven months of the year,” said Andrew D. Wozniak, head of fiduciary solutions, ISSG.
Plan liabilities are calculated using the yields of long-term investment grade bonds. Higher yields on these bonds result in lower liabilities.
The Bank of New York Mellon Corporation, an investment company, provides financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. It operates through two segments, Investment Administration and Investment Services.
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