IRS Seeks Record $2 Billion In Back Taxes From Prominent Businessman And Philanthropist Sam Wyly

They say you don't get rich by writing a lot of checks. And if you believe the IRS, failing to pay billions in federal taxes may explain how two brothers and Texas businessmen amassed a fortune worthy of landing them among the Forbes 400 Richest Americans. Sam Wyly, who along with his [...] Forbes - Personal Finance Read more [...]

Workplace Collaboration Startup Slack Valued at $2.8 Billion

Workplace collaboration platform Slack today made official what has been rumored for weeks: It has raised $ 160 million in new venture capital funding at a post-money valuation of $ 2.8 billion. But one big question remains: Why? Slack raised $ 120 million just last October at a $ 1.12 billion valuation and, at the time, didn’t even need the money. Instead, it simply wanted to join the (then less) exclusive unicorn club. So why go back to the well? Company co-founder and CEO Stewart Butterfield Read more [...]

Bank of America Reports First-quarter 2015 Net Income of $3.4 Billion, or $0.27 per Diluted Share

Dateline City: CHARLOTTE, N.C. Results Include $ 1.0 Billion ($ 0.06 per Share) in Annual Retirement-eligible Incentive Costs and $ 0.5 Billion ($ 0.03 per Share) in Charges to Revenue for Market-related Net Interest Income Adjustments Continued Business Momentum Period-end Deposit Balances Increased to Record $ 1.15 Trillion Originated $ 17 Billion in First-lien Residential Mortgage Loans Read more [...]

Bank of America Authorizes a $4 Billion Common Stock Repurchase Program

Dateline City: CHARLOTTE, N.C. Bank of America today announced that the company’s Board of Directors authorized a $ 4 billion common stock repurchase program. The Federal Reserve Board (Fed) has informed the company that it completed its 2015 Comprehensive Capital Analysis and Review and it did not object to the company’s capital plan for the period from the second quarter of 2015 Read more [...]

Bank of America Merrill Lynch Provides More Than $3.2 Billion in Community Development Banking Lending and Investing in 2014

Dateline City: NEW YORK Scope of Projects Impacted Wide Range of Constituents in Communities Nationwide Bank of America Merrill Lynch Community Development Banking provided more than $ 3.2 billion in loans, tax credit equity investments and other real estate development solutions to over 550 clients in 2014, creating more than 13,000 Read more [...]

Chevron Announces $35.0 Billion Capital and Exploratory Budget for 2015

SAN RAMON, Calif.--(BUSINESS WIRE)--Jan. 30, 2015-- Chevron Corporation (NYSE:CVX) today announced a $ 35.0 billion capital and exploratory investment program for 2015. Included in the 2015 program are $ 4.0 billion of planned expenditures by affiliates, which do not require cash outlays by Chevron. The 2015 budget is 13% lower than total investments for 2014. “We continue to execute against a consistent set of business strategies which are focused Read more [...]

Apple to Invest €1.7 Billion in New European Data Centres

CORK, Ireland—February 23, 2015—Apple® today announced a €1.7 billion plan to build and operate two data centres in Europe, each powered by 100 percent renewable energy. The facilities, located in County Galway, Ireland, and Denmark’s central Jutland, will power Apple’s online services including the iTunes Store®, App Store℠, iMessage®, Maps and Siri® for customers across Europe.“We are grateful for Apple’s continued success in Europe and Read more [...]