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U.S. Morning Call: 16,000 jobs on BofA chopping block

Thursday, September 20, 2012 - 02:21

Sep 20 - Bank of America announces it will cut 16,000 jobs this year. And economists forecast a total of 375,000 filings for initial jobless claims this week.

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Bank of America shedding thousands of jobs adding to economic woes and AM -- sector is starting to heat up here's your morning call for Thursday. Bank of America is planning to cut 161000. Jobs by year's end as it speeds up a company wide cost cutting initiative. Amid declining revenues according to the Wall Street Journal. The job cuts could shrink the US's second largest banks workforce below that of rivals JPMorgan Chase and Wells Fargo. US stock futures signaling a lower open this morning despite coordinated Central Bank moves. It could be today news wasn't a big an indicator of the weak job market just wait until 8:30 AM for the release of first time claims for jobless benefits for last week. Economists forecast a total of 375000. New filings compared with 382000. The prior week. An oil continuing its -- today on Saudi Arabia's pledge to push prices lower and weak manufacturing data out of China. Brent crude now worth 108 dollars barrel. Let's talk some man today US based cable group Liberty Global is -- two point six billion dollars to take full control of Belgium's talent that. Seeking to strengthen its grip on the solid Telecom business. Shares of -- -- which also raised its profit and revenue forecast today -- 13%. One potential takeover candidate to look out for is pandora. Apple's possible foray into Internet radio look at the online music pioneer at position watch for companies like Amazon and Google. Anderson stocks to watch. Google is set to become the biggest earner in US display ads this year taking his top spot away from FaceBook. Cementing its dominance in online advertising. But if FaceBook which closed up six and a half percent yesterday now trading 1% lower in premarket. Nike is bolstering its capacity use its cash to buy back shares with the board approving an eight billion dollar buyback program. That's stock could put on air jordans in today's session. And software maker Adobe Systems say current quarter earnings will decline or remain flat suppose it could just Photoshop an -- stock chart. -- your morning -- Thursday follow us on Twitter at Reuters Insider for the latest headlines and check out our -- YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernard this is writers.

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U.S. Morning Call: 16,000 jobs on BofA chopping block

Thursday, September 20, 2012 - 02:21