Bank of America Corp.’s Merrill Lynch was fined $6 million by the Financial Industry Regulatory Authority for allowing short-sellers to dump stocks without making sure they had first arranged to borrow the shares.
Bank of Montreal’s wager on U.S. banking is proving profitable amid rising commercial lending, three years after doubling down on the Midwest with its biggest acquisition in the Canadian company’s 196-year history.
The slowdown in purchases followed a 0.2% advance in June, the Commerce Department reported today. The median forecast of 82 economists surveyed by Bloomberg called for a 0.2% gain. Excluding cars, sales rose 0.1%.
The four-bedroom house that Ilia Nielsen-Dembe purchased in west Denver earlier this year wasn’t her top choice. The first-time buyer had to settle on a home in a neighborhood with a high crime rate after losing out on bids for five properties in more desirable areas.