Customer service, just a corridor away. I will introduce you to the robotic bellhop that is already transforming a hotel into a hightech haven. Fast casual dining. This is a category that has been dominating restaurant growth. We are going to meet to experts who want to transform your night out. First, lets get headlines from su keenan. We start with bank of america. Shares gained more than 4 , the largest increase since may of 2013, this after the company agreed to pay 245 million on s p allegations. And failed to disclose mortgage losses. That resolves part of the 16. 65 billion home depot has named its next ceo. The homeimprovement retailer says the new ceo will take over november 1. Craig has overseen the companys online businesses. Finally, old navy seems to be steering the gaia the sales shipped for cap. Gap. That is the latest. The s p 500 gained today on economic reports, as well as Federal Reserve minutes released for july. Janet yellen is going to give her firstever speech as
The banks are trying to keep employees from quitting. U. S. Special Operation Forces raided a location inside syria the summer, but foley and other hostages had already been moved. Of our top stories, bank of america is prepared to announce a 17 billion settlement to settle invalid overions investigations the improper sale of mortgage bonds prior to the crash. This will definitely be the biggest. Jpmorgan paid 13 billion late last year. Citigroup paid 7 billion last month. Bank of america is paying the biggest settlement so far based the mortgage related acquisitions. Merrill lynch had a hand in this. Inc. Of america acquired Merrill Lynch in the dark days bank of america acquired Merrill Lynch and the dark days of 2008. Forthey being penalized that now . A lot of it has to do with countrywide, the largest some prime subprime mortgage issuer. Countrywides stock was declining and it looked like it was a good deal of the time. Merrill lynch had a lot of mortgage bonds on its Balance Shee
Headlines today. Phil mattingly reports on president obamas options in iraq. With amarx is in irbil focus on iraq passes oil fields. With theinterview Kansas City Fed president. But first, on this thursday, we begin with bank of americas rectal record settlement. The bank has agreed to pay nearly 17 billion to settle allegations that misled investors in the sale of mortgage bonds. It is the toughest penalty yet related to loans that fueled the financial crisis. We did the best we could. I am proud of the fact we established the working group the president set up in january 2012. The chase deal, the city deal, and this recordbreaking deal with bank of america are all coming out of the work of this National Working group that president obama set up in january 2012. He does not get mentioned a lot in the stories, but he put my office and others together and we started ramping up and that is why we are getting these recordbreaking settlements. Bloomberg reporter keri geiger has been follow
Buildings from the dangers of flooding. A real threat with Superstorm Sandy catastrophe. All that and more over the next hour. Shelbyyour program with holliday. Hp out with earnings after the close of u. S. Trainings. Reporting mr. Fiscal fourthquarter sales that topped analyst estimates. Profit was . 89 per share with revenue rising to 27. 6 billion. Taken a. 5 and hurts. He may pursue representation on the board. According to the filing he wants to discuss accounting issues. A lack of confidence in management. Angelo mozilla oh does not have to look. The u. S. Attorneys office said to be preparing a simple lawsuit. As many as 10 other former countrywide employees. Those are the headlines. The deal. Ank you. Nk for more on the story and bank of americas expect the settlement, i am joined by keri geiger. Advisors to capital help manage fund for burn him happens toital and own over 200,000 shares of bank of america for his clients. Nham and rmb capital. Bank of america settlement expect
I am alix steel. Have you done the bucket challenge . I have not. I would not mind donating money. I do not see myself doing the bucket challenge. I challenge you. You are like the seventh person and i am still not going to do it. Going to existing home sales for the month of july. Scarlet fu in the newsroom with headlines. For the month of july economist looking for a drop. Instead what we got was an unexpected increase month over month. Existing sales rose 2. 4 from a month ago. In terms of an actual number, 5. 1 5 million, higher than what economists had been looking for. I was told 5. 1 five millions the highest level since october. Some good news on the housing front. We know the Federal Reserve had been siding housing and weakness, but concern is the slowdown as you look at the rotter economy. Another index is the leading index of Economic Indicators higher than anticipated as well. Again of. 9 . A gain of. 9 . Falling more than anticipated to below 300,000, a sevenyear low and e