148-440: Parmalat S.p.A. is an Italian dairy and food corporation which is a subsidiary of French multinational company Lactalis . It was founded by Calisto Tanzi in 1961. Having become the leading global company in the production of long-life milk using ultra-high-temperature processing , the company collapsed in 2003 with a €14bn ($ 20bn; £13bn) hole in its accounts in what remains Europe's biggest bankruptcy. Since 2011, it has been
296-814: A Christian in the event of victory against the Visigothic Kingdom , which was said to have guaranteed the battle. Clovis regained the southwest from the Visigoths and was baptised in 508. Clovis I was the first Germanic conqueror after the Fall of the Western Roman Empire to convert to Catholic Christianity; thus France was given the title "Eldest daughter of the Church" by the papacy, and French kings called "the Most Christian Kings of France". The Franks embraced
444-425: A European counterweight between American and Soviet spheres of influence. However, he opposed any development of a supranational Europe , favouring sovereign nations . The revolt of May 1968 had an enormous social impact; it was a watershed moment when a conservative moral ideal (religion, patriotism, respect for authority) shifted to a more liberal moral ideal (secularism, individualism, sexual revolution). Although
592-430: A bet on its own creditworthiness to conjure up an asset out of thin air. After his arrest, Tanzi reportedly admitted during questioning at Milan 's San Vittore prison that he diverted funds from Parmalat into Parmatour and elsewhere. The family football and tourism enterprises were financial disasters as well, as Tanzi attempted to rival Berlusconi by buying Odeon TV, only to sell it at a loss of about €45 million. Tanzi
740-728: A combination of social, political and economic factors, which the Ancien Régime proved unable to manage. A financial crisis and social distress led in May 1789 to the convocation of the Estates General , which was converted into a National Assembly in June. The Storming of the Bastille on 14 July led to a series of radical measures by the Assembly, among them the abolition of feudalism , state control over
888-559: A coup and civil war. During the May 1958 crisis , the weak Fourth Republic gave way to the Fifth Republic , which included a strengthened presidency. The war concluded with the Évian Accords in 1962 which led to Algerian independence , at a high price: between half a million and one million deaths and over 2 million internally-displaced Algerians. Around one million Pied-Noirs and Harkis fled from Algeria to France. A vestige of empire
1036-422: A financial beachhead in the region. These mergers helped BankAmerica Corporation to once again become the largest U.S. bank holding company in terms of deposits, but the company fell to second place in 1997 behind North Carolina's fast-growing NationsBank Corporation , and to third in 1998 behind First Union Corp. On the capital markets side, the acquisition of Continental Illinois helped BankAmerica to build
1184-455: A government-appointment administrator ( commissario ). Enrico Bondi was named commissario . Calisto Tanzi was detained hours after the firm was declared officially insolvent in late December and admitted that there was a hole of €8 billion in Parmalat's accounts, but denied any cover-up. The arrest of five other executives followed. The auditors of the administration eventually determined that
1332-428: A leveraged finance origination- and distribution business, which allowed the firm's existing broker-dealer, BancAmerica Securities (originally named BA Securities), to become a full-service franchise. In addition, in 1997, BankAmerica acquired Robertson Stephens , a San Francisco–based investment bank specializing in high technology for $ 540 million. Robertson Stephens was integrated into BancAmerica Securities, and
1480-585: A new takeover and delisting offer. Lactalis acquired 7% of the shares from Amber and other shareholders which had opposed the 2016 takeover, and confirmed the delisting for March 2019. Lactalis moved all strategic activities to France and gradually wound down operations in Italy. In 2019, the future of the historical factory in Rome was also in doubt. France – in Europe (green & dark grey) – in
1628-549: A number of industry groups in Europe, as well as cutting numerous banking and sales and trading positions in North America and Asia prior to its merger with Merrill Lynch. On October 3, 2008, Bank of America announced that John Thain would lead the combined Bank of America/ Merrill Lynch Global Corporate and Investment Banking enterprise. Thain was forced out by Bank of America Chairman Kenneth D. Lewis on January 22, 2009, because of
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#17328692295031776-524: A period of economic prosperity and cultural and scientific flourishing known as the Belle Époque . France was one of the major participants of World War I , from which it emerged victorious at great human and economic cost. It was among the Allies of World War II , but it surrendered and was occupied in 1940. Following its liberation in 1944 , the short-lived Fourth Republic was established and later dissolved in
1924-405: A separate company that eventually became First Interstate Bancorp , later acquired by Wells Fargo and Company in 1996. Only in the 1980s, with a change in federal banking legislation and regulation, could Bank of America again expand its domestic consumer banking activity outside California. New technologies also allowed the direct linking of credit cards with individual bank accounts. In 1958,
2072-612: A series of acquisitions in the late 1980s. This represented, at the time, the largest bank acquisition in history. Federal regulators, however, forced the sale of roughly half of Security Pacific's Washington subsidiary, the former Rainier Bank , as the combination of Seafirst and Security Pacific Washington would have given BankAmerica too large a share of the market in that state. The Washington branches were divided and sold to West One Bancorp (now U.S. Bancorp ) and KeyBank . Later that year, BankAmerica expanded into Nevada by acquiring Valley Bank of Nevada. In 1994, BankAmerica acquired
2220-630: A significant amount of work for Financial Sponsors, or private equity firms, often financing leveraged transactions. On the product side, the firm employed M&A senior bankers throughout the industry coverage groups. BAS also had a stand-alone Mergers & Acquisitions Group, consisting of bankers that transact M&A deals across all industries, as well as a Transaction Development Group, which aimed to identify and market transaction opportunities. The unit also had sizeable fixed income, currency and commodities divisions. During 2007–2008, BAS significantly downsized its international operations, eliminating
2368-451: A subsidiary of French group Lactalis (with fuller control since 2019). Today, Parmalat is a company with a global presence, having operations in Europe , North America , South America , Australia , China , and South Africa . Still specializing in UHT milk and milk derivatives (varieties of yogurt , cheese , butter , ice cream , etc.), the group also sells fruit juices distributed under
2516-614: Is a founding and leading member of the European Union and the eurozone , as well as a member of the Group of Seven , North Atlantic Treaty Organization (NATO), Organisation for Economic Co-operation and Development (OECD), and Francophonie . Originally applied to the whole Frankish Empire , the name France comes from the Latin Francia , or "realm of the Franks ". The name of
2664-548: Is a public establishment in France between local authorities and the national government covering an inhabited rural area of outstanding beauty, to protect the scenery and heritage as well as setting up sustainable economic development in the area. As of 2019 there are 54 PNRs in France. Bank of America The Bank of America Corporation (often abbreviated BofA or BoA ) is an American multinational investment bank and financial services holding company headquartered at
2812-568: Is a replica of the 1909 Bank of Italy branch bank in History Park in San Jose, and the 1925 Bank of Italy Building is an important downtown landmark. Giannini sought to build a national bank, expanding into most of the western states as well as into the insurance industry , under the aegis of his holding company, Transamerica Corporation . In 1953 regulators succeeded in forcing the separation of Transamerica Corporation and Bank of America under
2960-875: Is considered within the " Bulge Bracket " as the third largest investment bank in the world , as of 2018 . Its wealth management side manages US$ 1.081 trillion in assets under management (AUM) as the second largest wealth manager in the world , after UBS . In commercial banking, Bank of America operates, but does not necessarily maintain, retail branches in all 50 states of the United States, Washington, D.C. , and over 40 other countries. Its commercial banking footprint encapsulates 46 million consumer and small business relationships at 4,600 banking centers and 16,000 automated teller machines (ATMs). The bank's large market share, business activities, and economic impact has led to numerous lawsuits and investigations regarding both mortgages and financial disclosures dating back to
3108-571: Is now France date from approximately 1.8 million years ago. Neanderthals occupied the region into the Upper Paleolithic era but were slowly replaced by Homo sapiens around 35,000 BC. This period witnessed the emergence of cave painting in the Dordogne and Pyrenees , including at Lascaux , dated to c. 18,000 BC. At the end of the Last Glacial Period (10,000 BC),
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#17328692295033256-529: Is one of the Big Four banking institutions of the United States. It serves about 10 percent of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup , and Wells Fargo . Its primary financial services revolve around commercial banking , wealth management , and investment banking. Through mergers, the oldest branch of the Bank of America franchise can be traced to 1784, when Massachusetts Bank
3404-558: Is the French overseas departments and territories . During the Cold War , de Gaulle pursued a policy of "national independence" towards the Western and Eastern blocs . He withdrew from NATO's military-integrated command (while remaining within the alliance), launched a nuclear development programme and made France the fourth nuclear power . He restored cordial Franco-German relations to create
3552-473: Is the world's leading tourist destination , receiving 100 million foreign visitors in 2023 . A developed country , France has a high nominal per capita income globally , and its advanced economy ranks among the largest in the world . It is a great power , being one of the five permanent members of the United Nations Security Council and an official nuclear-weapon state . France
3700-746: The francisca ), although these weapons may have been named because of their use by the Franks, not the other way around. In English, 'France' is pronounced / f r æ n s / FRANSS in American English and / f r ɑː n s / FRAHNSS or / f r æ n s / FRANSS in British English. The pronunciation with / ɑː / is mostly confined to accents with the trap-bath split such as Received Pronunciation , though it can be also heard in some other dialects such as Cardiff English . The oldest traces of archaic humans in what
3848-512: The 1973 oil crisis , which now accounts for 75 per cent of its electricity production and results in less pollution. According to the 2020 Environmental Performance Index conducted by Yale and Columbia , France was the fifth most environmentally conscious country in the world. Like all European Union state members, France agreed to cut carbon emissions by at least 20% of 1990 levels by 2020. As of 2009 , French carbon dioxide emissions per capita were lower than that of China. The country
3996-609: The 1995 public transport bombings , France has been targeted by Islamist organisations, notably the Charlie Hebdo attack in 2015 which provoked the largest public rallies in French history, gathering 4.4 million people, the November 2015 Paris attacks which resulted in 130 deaths, the deadliest attack on French soil since World War II and the deadliest in the European Union since
4144-453: The 2008 financial crisis . Its corporate practices of servicing the middle class and wider banking community have yielded a substantial market share since the early 20th century. As of August 2018 , Bank of America has a $ 313.5 billion market capitalization , making it the 13th largest company in the world . As the sixth largest American public company, it garnered $ 102.98 billion in sales as of June 2018 . Bank of America
4292-550: The Bank of America Corporate Center in Charlotte, North Carolina , with investment banking and auxiliary headquarters in Manhattan . The bank was founded by the merger of NationsBank and Bank of America in 1998. It is the second-largest banking institution in the United States and the second-largest bank in the world by market capitalization , both after JPMorgan Chase . Bank of America
4440-804: The Bank of America Tower , a $ 1 billion, 58-story skyscraper, at Bryant Park in New York City that was completed in 2009. Prior to that, BAS in New York had offices in various locations due to the numerous mergers that had taken place over the previous decade, including space at 9 West 57th Street, 1 World Trade Center , 1633 Broadway, 40 East 52nd Street, 335 Madison Avenue, and 100 West 33rd Street. In 2001, McColl stepped down as CEO and named Ken Lewis as his successor. In 2004, Bank of America announced it would purchase Boston-based bank FleetBoston Financial for $ 47 billion in cash and stock. By merging with Bank of America, all of its banks and branches were given
4588-456: The Bank of Italy , in San Francisco. In 1922, Bank of America, Los Angeles was established with Giannini as a minority investor. The two banks merged in 1928 and consolidated with other bank holdings to create what would become the largest banking institution in the country. In 1918, another corporation, Bancitaly Corporation, was organized by A. P. Giannini, the largest stockholder of which
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4736-593: The Battle of Hastings in 1066, William the Conqueror added "King of England" to his titles, becoming vassal and the equal of the king of France, creating recurring tensions. The Carolingian dynasty ruled France until 987, when Hugh Capet was crowned king of the Franks . His descendants unified the country through wars and inheritance. From 1190, the Capetian rulers began to be referred as "kings of France" rather than "kings of
4884-574: The British Isles and Switzerland . The wars were ended by Henry IV 's Edict of Nantes , which granted some freedom of religion to the Huguenots. Spanish troops, assisted the Catholics from 1589 to 1594 and invaded France in 1597. Spain and France returned to all-out war between 1635 and 1659. The war cost France 300,000 casualties. Under Louis XIII , Cardinal Richelieu promoted centralisation of
5032-551: The Carnac stones site (approximately 3,300 BC). In 600 BC, Ionian Greeks from Phocaea founded the colony of Massalia (present-day Marseille ). Celtic tribes penetrated parts of eastern and northern France, spreading through the rest of the country between the 5th and 3rd century BC. Around 390 BC, the Gallic chieftain Brennus and his troops made their way to Roman Italy , defeated
5180-704: The Catholic Church in France , and a declaration of rights . The next three years were dominated by struggle for political control, exacerbated by economic depression . Military defeats following the outbreak of the French Revolutionary Wars in April 1792 resulted in the insurrection of 10 August 1792 . The monarchy was abolished and replaced by the French First Republic in September, while Louis XVI
5328-573: The Clayton Antitrust Act . The passage of the Bank Holding Company Act of 1956 prohibited banks from owning non-banking subsidiaries such as insurance companies. Bank of America and Transamerica were separated, with the latter company continuing in the insurance sector. However, federal banking regulators prohibited Bank of America's interstate banking activity, and Bank of America's domestic banks outside California were forced into
5476-592: The Consulate seized power in a coup led by Napoleon . Napoleon became First Consul in 1799 and later Emperor of the French Empire (1804–1814; 1815). Changing sets of European coalitions declared wars on Napoleon's empire . His armies conquered most of continental Europe with swift victories such as the battles of Jena-Auerstadt and Austerlitz . Members of the Bonaparte family were appointed monarchs in some of
5624-500: The Continental Illinois National Bank and Trust Co. of Chicago. At the time, no bank possessed the resources to bail out Continental, so the federal government operated the bank for nearly a decade. Illinois then regulated branch banking extremely heavily, so Bank of America Illinois was a single-unit bank until the 21st century. BankAmerica moved its national lending department to Chicago in an effort to establish
5772-806: The European Union (green) France , officially the French Republic , is a country located primarily in Western Europe . Its overseas regions and territories include French Guiana in South America , Saint Pierre and Miquelon in the North Atlantic, the French West Indies , and many islands in Oceania and the Indian Ocean , giving it one of the largest discontiguous exclusive economic zones in
5920-800: The First French Empire . The collapse of the empire initiated a period of relative decline, in which France endured the Bourbon Restoration until the founding of the French Second Republic which was succeeded by the Second French Empire upon Napoleon III 's takeover. His empire collapsed during the Franco-Prussian War in 1870. This led to the establishment of the Third French Republic , and subsequent decades saw
6068-571: The Galbani , Invernizzi, Locatelli and Cademartori brands in Italy and is controlled by the Besnier family, began to acquire Parmalat shares. Lactalis quickly purchased nearly 30% of the company on the open market and in July 2011, succeeded in its €2.5 billion takeover offer, reaching a control of 80% shares at €2.6 per share. In 2015, revenues reached €6.42 billion and EBITDA €444.5 million. On 27 December 2016,
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6216-1049: The Hercynian uplift in the Paleozoic Era , the Armorican Massif , the Massif Central , the Morvan , the Vosges and Ardennes ranges and the island of Corsica were formed. These massifs delineate several sedimentary basins such as the Aquitaine Basin in the southwest and the Paris Basin in the north. Various routes of natural passage, such as the Rhône Valley , allow easy communication. The Alpine, Pyrenean and Jura mountains are much younger and have less eroded forms. At 4,810.45 metres (15,782 ft) above sea level, Mont Blanc , located in
6364-603: The House of Plantagenet , rulers of the County of Anjou , established its dominion over the surrounding provinces of Maine and Touraine , then built an "empire" from England to the Pyrenees , covering half of modern France. Tensions between France and the Plantagenet empire would last a hundred years, until Philip II of France conquered, between 1202 and 1214, most continental possessions of
6512-607: The Justice Department announced a $ 335 million settlement with Bank of America over discriminatory lending practice at Countrywide Financial. Attorney General Eric Holder said a federal probe found discrimination against qualified African-American and Latino borrowers from 2004 to 2008. He said that minority borrowers who qualified for prime loans were steered into higher-interest-rate subprime loans . On September 14, 2008, Bank of America announced its intention to purchase Merrill Lynch & Co., Inc. in an all-stock deal worth approximately $ 50 billion. Merrill Lynch
6660-406: The Madrid train bombings in 2004 . Opération Chammal , France's military efforts to contain ISIS , killed over 1,000 ISIS troops between 2014 and 2015. The vast majority of France's territory and population is situated in Western Europe and is called Metropolitan France . It is bordered by the North Sea in the north, the English Channel in the northwest, the Atlantic Ocean in the west and
6808-402: The Mediterranean Sea in the southeast. Its land borders consist of Belgium and Luxembourg in the northeast, Germany and Switzerland in the east, Italy and Monaco in the southeast, and Andorra and Spain in the south and southwest. Except for the northeast, most of France's land borders are roughly delineated by natural boundaries and geographic features: to the south and southeast,
6956-728: The National Association of Securities Dealers . The use of " Banc " in the BAS's name was indicative of the fact that the company was not a bank , and its deposits and other holdings were not insured by the Federal Deposit Insurance Corporation . The subsidiary was founded in 1998 following a strategy pioneered by Citigroup that combines corporate lending with investment banking advice and services. During its years of operation its strongest investment banking groups included high-yield debt underwriting and Leveraged Finance, in addition to industry coverage groups such as Healthcare, Consumer & Retail, Global Industries, Media & Telecom, Financial Institutions, Real Estate and Gaming. BAS also did
7104-469: The North Sea . Its eighteen integral regions (five of which are overseas) span a combined area of 643,801 km (248,573 sq mi) and have a total population of 68.4 million as of January 2024 . France is a semi-presidential republic with its capital in Paris , the country's largest city and main cultural and commercial centre. Metropolitan France was settled during the Iron Age by Celtic tribes known as Gauls before Rome annexed
7252-459: The Popular Front government (e.g., annual leave , eight-hour workdays , women in government ). In 1940, France was invaded and quickly defeated by Nazi Germany . France was divided into a German occupation zone in the north, an Italian occupation zone and an unoccupied territory, the rest of France, which consisted of the southern France and the French empire. The Vichy government , an authoritarian regime collaborating with Germany, ruled
7400-488: The Seven Years' War (1756–1763). Its European territory kept growing, however, with acquisitions such as Lorraine and Corsica . Louis XV's weak rule, including the decadence of his court, discredited the monarchy, which in part paved the way for the French Revolution . Louis XVI (r. 1774–1793) supported America with money, fleets and armies , helping them win independence from Great Britain . France gained revenge, but verged on bankruptcy—a factor that contributed to
7548-421: The Thirty Years' War and further increased its influence during the reign of Louis XIV . The French Revolution of 1789 overthrew the Ancien Régime and produced the Declaration of the Rights of Man , which expresses the nation's ideals to this day. France reached its political and military zenith in the early 19th century under Napoleon Bonaparte , subjugating part of continental Europe and establishing
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#17328692295037696-470: The official language of France and Europe's aristocracy. France became rivals of the House of Habsburg during the Italian Wars , which would dictate much of their later foreign policy until the mid-18th century. French explorers claimed lands in the Americas, paving expansion of the French colonial empire . The rise of Protestantism led France to a civil war known as the French Wars of Religion . This forced Huguenots to flee to Protestant regions such as
7844-415: The 1950s, passage of landmark federal banking legislation facilitated rapid growth, quickly establishing a prominent market share. After suffering a significant loss after the 1998 Russian bond default , BankAmerica, as it was then known, was acquired by the Charlotte-based NationsBank for US$ 62 billion. Following what was then the largest bank acquisition in history , the Bank of America Corporation
7992-459: The 1970s France faced an economic crisis and allowed new immigrants (mostly from the Maghreb , in northwest Africa) to permanently settle in France with their families and acquire citizenship. It resulted in hundreds of thousands of Muslims living in subsidised public housing and suffering from high unemployment rates. The government had a policy of assimilation of immigrants, where they were expected to adhere to French values and norms. Since
8140-515: The 1980s, becoming listed on the Milan stock exchange in 1990, and expanding further in the 1990s. By 22 April 2002, Parmalat's share price had reached a record and the company was valued at €3.7bn, employing over 30,000 people in 30 countries. The company began to expand and had listed in its portfolio amongst other things: an expansion in the space of a decade from six countries into ownership of ParmaTour (a travel group) and Odeon TV , Parma F.C. , Paulista Futebol Clube and S.E. Palmeiras . In
8288-402: The 200 years of the Crusades, in such a fashion that the Arabs referred to crusaders as Franj . French Crusaders imported French into the Levant , making Old French the base of the lingua franca ("Frankish language") of the Crusader states . The Albigensian Crusade was launched in 1209 to eliminate the heretical Cathars in the southwest of modern-day France. From the 11th century,
8436-402: The 2007 race. The deal increased Bank of America's presence in Illinois , Michigan , and Indiana by 411 branches, 17,000 commercial bank clients, 1.4 million retail customers, and 1,500 ATMs. Bank of America became the largest bank in the Chicago market with 197 offices and 14% of the deposit share, surpassing JPMorgan Chase . LaSalle Bank and LaSalle Bank Midwest branches adopted
8584-420: The 4th century, a period of revival and prosperity. In 312, Emperor Constantine I converted to Christianity . Christians, who had been persecuted, increased. But from the 5th century, the Barbarian Invasions resumed. Teutonic tribes invaded the region, the Visigoths settling in the southwest, the Burgundians along the Rhine River Valley, and the Franks in the north. In Late antiquity , ancient Gaul
8732-438: The Alps on the France–Italy border , is the highest point in Western Europe. Although 60% of municipalities are classified as having seismic risks (though moderate). The coastlines offer contrasting landscapes: mountain ranges along the French Riviera , coastal cliffs such as the Côte d'Albâtre , and wide sandy plains in the Languedoc . Corsica lies off the Mediterranean coast. France has an extensive river system consisting of
8880-457: The Atlantic Ocean. Other water courses drain towards the Meuse and Rhine along the northeastern borders. France has 11,000,000 km (4,200,000 sq mi) of marine waters within three oceans under its jurisdiction, of which 97% are overseas. France was one of the first countries to create an environment ministry, in 1971. France is ranked 19th by carbon dioxide emissions due to the country's heavy investment in nuclear power following
9028-481: The Bank of America logo. At the time of merger, FleetBoston was the seventh largest bank in United States with $ 197 billion in assets, over 20 million customers and revenue of $ 12 billion. Hundreds of FleetBoston workers lost their jobs or were demoted, according to The Boston Globe . On June 30, 2005, Bank of America announced it would purchase credit card giant MBNA for $ 35 billion in cash and stock. The Federal Reserve Board gave final approval to
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#17328692295039176-484: The Bank of America name on May 5, 2008. During the subprime mortgage crisis , the bank, under Ken Lewis , made two major acquisitions that would shape the future of the company for the next couple years coming out of the crisis. Specifically the bank was sued by many different parties and made to pay tens of billions of dollars. On August 23, 2007, the company announced a $ 2 billion repurchase agreement for Countrywide Financial . This purchase of preferred stock
9324-495: The BankBoston name and trademarks were not part of the transaction, as part of the sale agreement, they cannot be used by Bank of America in Brazil, Chile or Uruguay following the transactions. Hence, the BankBoston name has disappeared from Brazil, Chile and Uruguay. The Itaú stock received by Bank of America in the transactions has allowed Bank of America's stake in Itaú to reach 11.51%. Banco de Boston de Brazil had been founded in 1947. On November 20, 2006, Bank of America announced
9472-504: The Christian Gallo-Roman culture , and ancient Gaul was renamed Francia ("Land of the Franks"). The Germanic Franks adopted Romanic languages . Clovis made Paris his capital and established the Merovingian dynasty , but his kingdom would not survive his death. The Franks treated land as a private possession and divided it among their heirs, so four kingdoms emerged from that of Clovis: Paris, Orléans , Soissons , and Rheims . The last Merovingian kings lost power to their mayors of
9620-405: The Franks is related to the English word frank ("free"): the latter stems from the Old French franc ("free, noble, sincere"), and ultimately from the Medieval Latin word francus ("free, exempt from service; freeman, Frank"), a generalisation of the tribal name that emerged as a Late Latin borrowing of the reconstructed Frankish endonym * Frank . It has been suggested that
9768-420: The Franks". Later kings expanded their directly possessed domaine royal to cover over half of modern France by the 15th century. Royal authority became more assertive, centred on a hierarchically conceived society distinguishing nobility , clergy, and commoners . The nobility played a prominent role in Crusades to restore Christian access to the Holy Land . French knights made up most reinforcements in
9916-402: The French government's longtime historical association with the Catholic Church , Charlemagne tried to revive the Western Roman Empire and its cultural grandeur. Charlemagne's son, Louis I kept the empire united, however in 843, it was divided between Louis' three sons, into East Francia , Middle Francia and West Francia . West Francia approximated the area occupied by modern France and
10064-490: The French group, which controls 87.74% of Parmalat, activated the delisting procedure trying to withdraw it from the stock exchange listing. Lactalis prepared to delist Parmalat in 2016, with a buyout offer at €2.8 per share to acquire the remaining 12%, then raised to €3 but eventually failed due to opposition by hedge fund Amber and others. In December 2018, Lactalis was thought to have almost reached 95% shares at an open market price of around €2.85/share and to be about to launch
10212-542: The Pyrenees and the Alps and the Jura, respectively, and to the east, the Rhine river. Metropolitan France includes various coastal islands, of which the largest is Corsica . Metropolitan France is situated mostly between latitudes 41° and 51° N , and longitudes 6° W and 10° E , on the western edge of Europe, and thus lies within the northern temperate zone. Its continental part covers about 1000 km from north to south and from east to west. Metropolitan France covers 551,500 square kilometres (212,935 sq mi),
10360-408: The Revolution. Some of the Enlightenment occurred in French intellectual circles, and scientific breakthroughs, such as the naming of oxygen (1778) and the first hot air balloon carrying passengers (1783), were achieved by French scientists. French explorers took part in the voyages of scientific exploration through maritime expeditions. Enlightenment philosophy, in which reason is advocated as
10508-461: The Romans in the Battle of the Allia , and besieged and ransomed Rome. This left Rome weakened, and the Gauls continued to harass the region until 345 BC when they entered into a peace treaty. But the Romans and the Gauls remained adversaries for centuries. Around 125 BC, the south of Gaul was conquered by the Romans, who called this region Provincia Nostra ("Our Province"), which evolved into Provence in French. Julius Caesar conquered
10656-478: The United States at that time. Giannini and Monnette headed the resulting company, serving as co-chairs. Giannini introduced branch banking shortly after 1909 legislation in California allowed for branch banking in the state, establishing the bank's first branch outside San Francisco in 1909 in San Jose. By 1929 the bank had 453 banking offices in California with aggregate resources of over US$ 1.4 billion. There
10804-419: The acquisition did not go through, and later Bank of America were forced to request federal assistance, the management of Bank of America would be "gone". Other emails, read by Congressman Dennis Kucinich during the course of Lewis' testimony, state that Mr. Lewis had foreseen the outrage from his shareholders that the purchase of Merrill would cause, and asked government regulators to issue a letter stating that
10952-469: The acquisition of Merrill Lynch and that federal official pressured him to proceed with the deal or face losing his job and endangering the bank's relationship with federal regulators. Lewis's statement is backed up by internal emails subpoenaed by Republican lawmakers on the House Oversight Committee. In one of the emails, Richmond Federal Reserve President Jeffrey Lacker threatened that if
11100-543: The acquisition on December 5, 2008, and the deal closed January 1, 2009. Bank of America had planned to retain various members of the then Merrill Lynch's CEO, John Thain 's management team after the merger. However, after Thain was removed from his position, most of his allies left. The departure of Nelson Chai , who had been named Asia-Pacific president, left just one of Thain's hires in place: Tom Montag, head of sales and trading. The bank, in its January 16, 2009, earnings release, revealed massive losses at Merrill Lynch in
11248-496: The acquisition, which was completed in July 2008, giving the bank a substantial market share of the mortgage business, and access to Countrywide's resources for servicing mortgages. The acquisition was seen as preventing a potential bankruptcy for Countrywide. Countrywide, however, denied that it was close to bankruptcy. Countrywide provided mortgage servicing for nine million mortgages valued at $ 1.4 trillion as of December 31, 2007. This purchase made Bank of America Corporation
11396-677: The area in 51 BC, leading to a distinct Gallo-Roman culture . In the Early Middle Ages , the Franks formed the Kingdom of Francia , which became the heartland of the Carolingian Empire . The Treaty of Verdun of 843 partitioned the empire, with West Francia evolving into the Kingdom of France . In the High Middle Ages , France was a powerful but decentralized feudal kingdom, but from
11544-514: The bank introduced the BankAmericard, which changed its name to Visa in 1977. A coalition of regional bankcard associations introduced Interbank in 1966 to compete with BankAmericard. Interbank became Master Charge in 1966 and then Mastercard in 1979. From February 1970 through September 1971, there were 66 attacks on Bank of America branches in California, including 53 bombings or fire-bombings, and 13 arson fires. There were "few injuries" and
11692-489: The banks and auditing firms it sued for negligence and aiding in the fraud of former Parmalat leadership. In 2005, Vicenzi bought from Parmalat the unprofitable bakery plant of Nusco , opened in 1984 for political reasons because it was the home town of Democrazia Cristiana chieftain Ciriaco De Mita . By 2011, Parmalat had grown cash to €1.5 billion. In March 2011, the French multinational Lactalis, which already owns
11840-593: The brand names Lactis, Santal, Malù, and Kyr. Its worldwide operations include almost 140 production centres and some 16,000 employees, with 5,000 Italian dairy farms supplying it. Its shares were listed on the Borsa Italiana . In 1961, Calisto Tanzi , a 22-year-old college dropout, opened a small pasteurisation plant in Parma . Two decades later, the company had grown into a multinational corporation diversifying into milk, dairy, beverage, bakery, and other product lines in
11988-635: The brokerage firm Charles Schwab and Co. back to Mr. Schwab . It also sold Bank of America and Italy to Deutsche Bank . By the time of the 1987 stock-market crash , BankAmerica's share price had fallen to $ 8, but by 1992 it had rebounded mightily to become one of the biggest gainers of that half-decade. BankAmerica's next big acquisition came in 1992. The company acquired Security Pacific Corporation and its subsidiary Security Pacific National Bank in California and other banks in Arizona , Idaho , Oregon , and Washington , which Security Pacific had acquired in
12136-504: The climate became milder; from approximately 7,000 BC, this part of Western Europe entered the Neolithic era, and its inhabitants became sedentary . After demographic and agricultural development between the 4th and 3rd millennia BC, metallurgy appeared , initially working gold, copper and bronze , then later iron . France has numerous megalithic sites from the Neolithic, including
12284-765: The colossal losses visited on B of A due to its acquisition of Merrill Lynch. With Thain's departure, Brian Moynihan became president of Global Banking and Global Wealth and Investment Management. After the merger was closed, the SEC Registration of Banc of America Securities was terminated in January 2011. BAS operated from a number of offices across the world, with major offices in New York, New York , Charlotte, North Carolina , Chicago, Illinois , San Francisco, California , Tokyo , Frankfurt , London , and Mumbai . The bulk of its investment banking operations eventually moved to
12432-435: The combined subsidiary was renamed "BancAmerica Robertson Stephens". In 1997, BankAmerica lent investment management firm D. E. Shaw & Co. $ 1.4 billion to run various businesses for the bank. However, D.E. Shaw suffered significant loss after the 1998 Russia bond default . NationsBank of Charlotte acquired BankAmerica in 1998 in what was the largest bank acquisition in history at that time. While NationsBank
12580-449: The company's shares depreciated significantly as a result of the publicised concerns raised over transactions with mutual fund Epicurum , a Cayman-based company linked to Parmalat by November. Ferraris resigned less than a week after the public fall-out and was replaced by Del Soldato. Del Soldato resigned the next month, unable to get cash from Epicurum fund, needed to pay debts and make bond payments totalling at least €150 million. Bonlat
12728-789: The constitutional July Monarchy ; French troops began the conquest of Algeria . Unrest led to the French Revolution of 1848 and the end of the July Monarchy. The abolition of slavery and introduction of male universal suffrage was re-enacted in 1848. In 1852, president of the French Republic, Louis-Napoléon Bonaparte , Napoleon I's nephew, was proclaimed emperor of the Second Empire , as Napoleon III. He multiplied French interventions abroad, especially in Crimea , Mexico and Italy . Napoleon III
12876-492: The course of the defeat in the Algerian War . The current Fifth Republic was formed in 1958 by Charles de Gaulle . Algeria and most French colonies became independent in the 1960s, with the majority retaining close economic and military ties with France . France retains its centuries-long status as a global centre of art , science , and philosophy . It hosts the fourth-largest number of UNESCO World Heritage Sites and
13024-500: The debts amounted to €14.3 billion, which was almost eight times the sum originally stated. Several of the company's subsidiaries subsequently went insolvent, including its Brazilian, Argentinian and American operations and its football club in Parma . Tanzi was eventually charged with financial fraud and money laundering . Among the questionable accounting practices used by Parmalat were selling itself credit-linked notes , in effect placing
13172-553: The early 1980s, Parmalat was the title sponsor of the Brabham Formula 1 team, and its logotype, prominently displayed on the vehicles, became strongly associated with the team. The company continued as a minor sponsor of other Formula 1 teams in the late 1990s. In 1997, Parmalat expanded into financial markets, financing several international acquisitions, especially in the Western Hemisphere, with debt. But by 2001, many of
13320-516: The empire, leaving England and Aquitaine to the Plantagenets. Charles IV the Fair died without an heir in 1328. The crown passed to Philip of Valois , rather than Edward of Plantagenet, who became Edward III of England . During the reign of Philip, the monarchy reached the height of its medieval power. However Philip's seat on the throne was contested by Edward in 1337, and England and France entered
13468-594: The ensuing uprising of European monarchies against his rule, Napoleon was defeated. About a million Frenchmen died during the Napoleonic Wars . After his brief return from exile, Napoleon was finally defeated in 1815 at the Battle of Waterloo , and the Bourbon monarchy was restored with new constitutional limitations. The discredited Bourbon dynasty was overthrown by the July Revolution of 1830, which established
13616-582: The forefront of the development of a supranational European Union , notably by signing the Maastricht Treaty in 1992, establishing the eurozone in 1999 and signing the Treaty of Lisbon in 2007. France has fully reintegrated into NATO and since participated in most NATO-sponsored wars. Since the 19th century, France has received many immigrants , often male foreign workers from European Catholic countries who generally returned home when not employed. During
13764-927: The four major rivers Seine , the Loire , the Garonne , the Rhône and their tributaries, whose combined catchment includes over 62% of the metropolitan territory. The Rhône divides the Massif Central from the Alps and flows into the Mediterranean Sea at the Camargue . The Garonne meets the Dordogne just after Bordeaux, forming the Gironde estuary , the largest estuary in Western Europe which after approximately 100 kilometres (62 mi) empties into
13912-501: The fourth quarter, which necessitated an infusion of money that had previously been negotiated with the government as part of the government-persuaded deal for the bank to acquire Merrill. Merrill recorded an operating loss of $ 21.5 billion in the quarter, mainly in its sales and trading operations, led by Tom Montag. The bank also disclosed it tried to abandon the deal in December after the extent of Merrill's trading losses surfaced, but
14060-406: The fraud of earlier management at Parmalat. In 2007, Deloitte settled on paying $ 149M to Parmalat. Bank of America, Parmalat's bank in many Special-purpose entities , settled for $ 100M payment to Parmalat in 2009. Grant Thornton International , Parmalat's auditing company, settled after repeated lawsuits for $ 4.4M with Parmalat. The new management at Parmalat recovered about $ 700M in payments from
14208-419: The government had ordered him to complete the deal to acquire Merrill. Lewis, for his part, states he didn't recall requesting such a letter. The acquisition made Bank of America the number one underwriter of global high-yield debt , the third largest underwriter of global equity and the ninth largest adviser on global mergers and acquisitions. As the credit crisis eased, losses at Merrill Lynch subsided, and
14356-485: The largest financial services company in the world. Temasek Holdings , the largest shareholder of Merrill Lynch & Co., Inc., briefly became one of the largest shareholders of Bank of America, with a 3% stake. However, taking a loss Reuters estimated at $ 3 billion, the Singapore sovereign wealth fund sold its whole stake in Bank of America in the first quarter of 2009. Shareholders of both companies approved
14504-475: The largest among European Union members. France's total land area, with its overseas departments and territories (excluding Adélie Land ), is 643,801 km (248,573 sq mi), 0.45% of the total land area on Earth. France possesses a wide variety of landscapes, from coastal plains in the north and west to mountain ranges of the Alps in the southeast, the Massif Central in the south-central and Pyrenees in
14652-676: The leading mortgage originator and servicer in the U.S., controlling 20–25% of the home loan market. The deal was structured to merge Countrywide with the Red Oak Merger Corporation, which Bank of America created as an independent subsidiary. It has been suggested that the deal was structured this way to prevent a potential bankruptcy stemming from large losses in Countrywide hurting the parent organization by keeping Countrywide bankruptcy remote . Countrywide Financial has changed its name to Bank of America Home Loans . In December 2011,
14800-459: The meaning "free" was adopted because, after the conquest of Gaul , only Franks were free of taxation, or more generally because they had the status of freemen in contrast to servants or slaves. The etymology of *Frank is uncertain. It is traditionally derived from the Proto-Germanic word * frankōn , which translates as "javelin" or "lance" (the throwing axe of the Franks was known as
14948-528: The merged company was and still is headquartered in Charlotte, and retains NationsBank's pre-1998 stock price history. All U.S. Securities and Exchange Commission (SEC) filings before 1998 are listed under NationsBank, not Bank of America. NationsBank president, chairman, and CEO Hugh McColl , took on the same roles with the merged company. In 1998, Bank of America possessed combined assets of $ 570 billion, as well as 4,800 branches in 22 U.S. states. Despite
15096-452: The merger on December 15, 2005, and the merger closed on January 1, 2006. The acquisition of MBNA provided Bank of America a leading domestic and foreign credit card issuer. The combined Bank of America Card Services organization, including the former MBNA, had more than 40 million U.S. accounts and nearly $ 140 billion in outstanding balances. Under Bank of America, the operation was renamed FIA Card Services. Bank of America operated under
15244-580: The mid-14th to the mid-15th centuries, France was plunged into a dynastic conflict with England known as the Hundred Years' War . In the 16th century, the French Renaissance saw culture flourish and a French colonial empire rise. Internally, France was dominated by the conflict with the House of Habsburg and the French Wars of Religion between Catholics and Huguenots . France was successful in
15392-633: The most-used language in diplomacy, science, and literature until the 20th century. France took control of territories in the Americas, Africa and Asia. In 1685, Louis XIV revoked the Edict of Nantes , forcing thousands of Huguenots into exile and published the Code Noir providing the legal framework for slavery and expelling Jews from French colonies. Under the wars of Louis XV (r. 1715–1774), France lost New France and most Indian possessions after its defeat in
15540-547: The name BankBoston in many other Latin American countries, including Brazil. In May 2006, Bank of America and Banco Itaú (Investimentos Itaú S.A.) entered into an acquisition agreement, through which Itaú agreed to acquire BankBoston's operations in Brazil, and was granted an exclusive right to purchase Bank of America's operations in Chile and Uruguay , in exchange for Itaú shares. The deal
15688-576: The new divisions were producing losses, and the company financing shifted largely to the use of derivatives , apparently at least in part with the intention of hiding the extent of its losses and debt. In February 2003, chief financial officer Fausto Tonna unexpectedly announced a new €300 million bond issue. This came as a surprise both to the markets and to the CEO, Calisto Tanzi . Tanzi forced Tonna to resign and replaced him with Alberto Ferraris . According to an interview he later gave Time magazine, Ferraris
15836-454: The newly established kingdoms. These victories led to the worldwide expansion of French revolutionary ideals and reforms, such as the metric system , Napoleonic Code and Declaration of the Rights of Man. In 1812 Napoleon attacked Russia , reaching Moscow. Thereafter his army disintegrated through supply problems, disease, Russian attacks, and finally winter. After this catastrophic campaign and
15984-501: The off-and-on Hundred Years' War . Boundaries changed, but landholdings inside France by English Kings remained extensive for decades. With charismatic leaders, such as Joan of Arc , French counterattacks won back most English continental territories. France was struck by the Black Death , from which half of the 17 million population died. The French Renaissance saw cultural development and standardisation of French, which became
16132-616: The palace (head of household). One mayor of the palace, Charles Martel , defeated an Umayyad invasion of Gaul at the Battle of Tours (732). His son, Pepin the Short , seized the crown of Francia from the weakened Merovingians and founded the Carolingian dynasty . Pepin's son, Charlemagne , reunited the Frankish kingdoms and built an empire across Western and Central Europe . Proclaimed Holy Roman Emperor by Pope Leo III and thus establishing
16280-617: The primary source of legitimacy , undermined the power of and support for the monarchy and was a factor in the Revolution. The French Revolution was a period of political and societal change that began with the Estates General of 1789 , and ended with the coup of 18 Brumaire in 1799 and the formation of the French Consulate . Many of its ideas are fundamental principles of liberal democracy , while its values and institutions remain central to modern political discourse. Its causes were
16428-470: The problems on his predecessor, A. W. (Tom) Clausen , Clausen was appointed to replace Armacost. The losses resulted in a huge decline of BankAmerica stock, making it vulnerable to a hostile takeover . First Interstate Bancorp of Los Angeles (which had originated from banks once owned by BankAmerica), launched such a bid in the fall of 1986, although BankAmerica rebuffed it, mostly by selling operations. It sold its FinanceAmerica subsidiary to Chrysler and
16576-675: The property damage cost about $ 500,000, 80% of which was from the burning of the Isla Vista branch during a February 1970 riot. Following passage of the Bank Holding Company Act of 1956 by the U.S. Congress , BankAmerica Corporation was established for the purpose of owning and operating Bank of America and its subsidiaries. In 1983, Bank of America expanded outside California , through acquisition, orchestrated in part by Stephen McLin of Seafirst Corporation in Seattle , and its wholly owned banking subsidiary, Seattle-First National Bank. Seafirst
16724-621: The purchase of The United States Trust Company for $ 3.3 billion, from the Charles Schwab Corporation . US Trust had about $ 100 billion of assets under management and over 150 years of experience. The deal closed July 1, 2007. On September 14, 2007, Bank of America won approval from the Federal Reserve to acquire LaSalle Bank Corporation from ABN AMRO for $ 21 billion. With this purchase, Bank of America possessed $ 1.7 trillion in assets. A Dutch court blocked
16872-569: The remainder of Gaul and overcame a revolt by Gallic chieftain Vercingetorix in 52 BC. Gaul was divided by Augustus into provinces and many cities were founded during the Gallo-Roman period , including Lugdunum (present-day Lyon ), the capital of the Gauls. In 250–290 AD, Roman Gaul suffered a crisis with its fortified borders attacked by barbarians . The situation improved in the first half of
17020-449: The revolt was a political failure (the Gaullist party emerged stronger than before) it announced a split between the French and de Gaulle, who resigned. In the post-Gaullist era, France remained one of the most developed economies in the world but faced crises that resulted in high unemployment rates and increasing public debt. In the late 20th and early 21st centuries, France has been at
17168-469: The sale until it was later approved in July. The acquisition was completed on October 1, 2007. Many of LaSalle's branches and offices had already taken over smaller regional banks within the previous decade, such as Lansing and Detroit-based Michigan National Bank . The acquisition also included the Chicago Marathon event, which ABN AMRO acquired in 1996. Bank of America took over the event starting with
17316-538: The second-largest behind the British Empire . Including metropolitan France, the total area reached almost 13 million square kilometres in the 1920s and 1930s, 9% of the world's land. Known as the Belle Époque , the turn of the century was characterised by optimism, regional peace, economic prosperity and technological, scientific and cultural innovations. In 1905, state secularism was officially established . France
17464-512: The size of the two companies, federal regulators insisted only upon the divestiture of 13 branches in New Mexico , in towns that would be left with only a single bank following the combination. These branches were sold to BOK Financial Corporation , which operates them under the name "Bank of Albuquerque". The broker-dealer, NationsBanc Montgomery Securities, was named Banc of America Securities in 1998. Banc of America Securities LLC ( BAS ),
17612-468: The southwest. Due to its numerous overseas departments and territories scattered across the planet, France possesses the second-largest exclusive economic zone (EEZ) in the world, covering 11,035,000 km (4,261,000 sq mi). Its EEZ covers approximately 8% of the total surface of all the EEZs of the world. Metropolitan France has a wide variety of topographical sets and natural landscapes. During
17760-647: The state and reinforced royal power. He destroyed castles of defiant lords and denounced the use of private armies. By the end of the 1620s, Richelieu established "the royal monopoly of force". France fought in the Thirty Years' War , supporting the Protestant side against the Habsburgs. From the 16th to the 19th century, France was responsible for about 10% of the transatlantic slave trade . During Louis XIV 's minority, trouble known as The Fronde occurred. This rebellion
17908-521: The subsidiary generated $ 3.7 billion of Bank of America's $ 4.2 billion in profit by the end of quarter one in 2009, and over 25% in quarter 3 2009. On September 28, 2012, Bank of America settled the class-action lawsuit over the Merrill Lynch acquisition and will pay $ 2.43 billion. This was one of the first major securities class action lawsuits stemming from the financial crisis of 2007–2008 to settle. Many major financial institutions had
18056-522: The unoccupied territory. Free France , the government-in-exile led by Charles de Gaulle , was set up in London. From 1942 to 1944, about 160,000 French citizens, including around 75,000 Jews , were deported to death and concentration camps . On 6 June 1944, the Allies invaded Normandy , and in August they invaded Provence . The Allies and French Resistance emerged victorious, and French sovereignty
18204-698: The world . Metropolitan France shares borders with Belgium and Luxembourg to the north, Germany to the northeast, Switzerland to the east, Italy and Monaco to the southeast, Andorra and Spain to the south, and a maritime border with the United Kingdom to the northwest. Its metropolitan area extends from the Rhine to the Atlantic Ocean and from the Mediterranean Sea to the English Channel and
18352-457: Was invaded by Germany and defended by Great Britain at the start of World War I in August 1914. A rich industrial area in the north was occupied. France and the Allies emerged victorious against the Central Powers at tremendous human cost. It left 1.4 million French soldiers dead, 4% of its population. Interwar was marked by intense international tensions and social reforms introduced by
18500-402: Was Stockholders Auxiliary Corporation. This company acquired the stocks of various banks located in New York City and certain foreign countries. In 1928, Giannini merged his bank with Bank of America, Los Angeles , headed by Orra E. Monnette . Bank of Italy was renamed on November 3, 1930, to Bank of America National Trust and Savings Association , which was the only such designated bank in
18648-511: Was a founding member of NATO and attempted to regain control of French Indochina , but was defeated by the Viet Minh in 1954. France faced another anti-colonialist conflict in Algeria , then part of France and home to over one million European settlers ( Pied-Noir ). The French systematically used torture and repression, including extrajudicial killings to keep control. This conflict nearly led to
18796-524: Was a subsidiary of Parmalat set up in the Cayman Islands. Bonlat's bank, Bank of America , then released a document showing €3.95 billion in Parmalat's bank account as a forgery. Tanzi resigned as chairman and CEO. Hundreds of thousands of investors lost their money and would never recover it. Prime Minister Silvio Berlusconi changed bankruptcy laws by decree to allow a company to seek accelerated protection from creditors, by giving extraordinary powers to
18944-474: Was acquired by Bank of Italy of San Francisco, which took the Bank of America name two years later. The eastern portion of the Bank of America franchise can be traced to 1784, when Massachusetts Bank was chartered, the first federally chartered joint-stock owned bank in the United States and only the second bank to receive a charter in the United States. This bank became FleetBoston , with which Bank of America merged in 2004. In 1874, Commercial National Bank
19092-514: Was arranged to provide a return on investment of 7.25% per annum and provided the option to purchase common stock at a price of $ 18 per share. On January 11, 2008, Bank of America announced that it would buy Countrywide Financial for $ 4.1 billion. In March 2008, it was reported that the Federal Bureau of Investigation (FBI) was investigating Countrywide for possible fraud relating to home loans and mortgages. This news did not hinder
19240-509: Was at risk of seizure by the federal government after becoming insolvent due to a series of bad loans to the oil industry . BankAmerica continued to operate its new subsidiary as Seafirst rather than Bank of America until the 1998 merger with NationsBank. BankAmerica experienced huge losses in 1986 and 1987 due to the placement of a series of bad loans in the Third World . The company fired its CEO, Sam Armacost , in 1986. Though Armacost blamed
19388-439: Was at the time within days of collapse, and the acquisition effectively saved Merrill from bankruptcy. Around the same time Bank of America was reportedly also in talks to purchase Lehman Brothers , however a lack of government guarantees caused the bank to abandon talks with Lehman. Lehman Brothers filed for bankruptcy the same day Bank of America announced its plans to acquire Merrill Lynch. This acquisition made Bank of America
19536-472: Was chartered, the first federally chartered joint-stock owned bank in the United States. Another branch of its history goes back to the U.S.-based Bank of Italy , founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination . Headquartered in San Francisco, California , Giannini acquired Banca d'America e d'Italia , in 1922. In
19684-560: Was compelled to complete the merger by the U.S. government. The bank's stock price sank to $ 7.18, its lowest level in 17 years, after announcing earnings and the Merrill mishap. The market capitalization of Bank of America, including Merrill Lynch, was then $ 45 billion, less than the $ 50 billion it offered for Merrill just four months earlier, and down $ 108 billion from the merger announcement. Bank of America CEO Kenneth Lewis testified before Congress that he had some misgivings about
19832-659: Was divided into Germanic kingdoms and a remaining Gallo-Roman territory. Celtic Britons , fleeing the Anglo-Saxon settlement of Britain , settled in west Armorica ; the Armorican peninsula was renamed Brittany and Celtic culture was revived. The first leader to unite all Franks was Clovis I , who began his reign as king of the Salian Franks in 481, routing the last forces of the Roman governors in 486. Clovis said he would be baptised
19980-479: Was driven by feudal lords and sovereign courts as a reaction to the royal absolute power . The monarchy reached its peak during the 17th century and reign of Louis XIV. By turning lords into courtiers at the Palace of Versailles , his command of the military went unchallenged. The "Sun King" made France the leading European power. France became the most populous European country and had tremendous influence over European politics, economy, and culture. French became
20128-405: Was executed in January 1793. After another revolt in June 1793 , the constitution was suspended and power passed from the National Convention to the Committee of Public Safety . About 16,000 people were executed in a Reign of Terror , which ended in July 1794 . Weakened by external threats and internal opposition, the Republic was replaced in 1795 by the Directory . Four years later in 1799,
20276-709: Was founded in Charlotte. That bank merged with American Trust Company in 1958 to form American Commercial Bank. Two years later it became North Carolina National Bank when it merged with Security National Bank of Greensboro. In 1991, it merged with C&S / Sovran Corporation of Atlanta and Norfolk to form NationsBank . The central portion of the franchise dates to 1910, when Commercial National Bank and Continental National Bank of Chicago merged in 1910 to form Continental & Commercial National Bank, which evolved into Continental Illinois National Bank & Trust . The history of Bank of America dates back to October 17, 1904, when Amadeo Pietro Giannini (1870–1949) founded
20424-423: Was founded. Through a series of mergers and acquisitions, it built upon its commercial banking business by establishing Merrill Lynch for wealth management and Bank of America Merrill Lynch for investment banking in 2008 and 2009, respectively, and since renamed BofA Securities. Both Bank of America and Merrill Lynch Wealth Management retain large market shares in their respective offerings. The investment bank
20572-414: Was its precursor. During the 9th and 10th centuries, threatened by Viking invasions , France became a decentralised state: the nobility's titles and lands became hereditary, and authority of the king became more religious than secular, and so was less effective and challenged by noblemen. Thus was established feudalism in France. Some king's vassals grew so powerful they posed a threat to the king. After
20720-420: Was ranked No. 25 on the 2020 Fortune 500 rankings of the largest US corporations by total revenue. Likewise, Bank of America was also ranked No. 6 on the 2023 Global 2000 rankings done by Forbes. Bank of America was named the "World's Best Bank" by the Euromoney Institutional Investor in its 2018 Awards for Excellence. Bank of America, Los Angeles was founded in California in 1923. In 1928, this entity
20868-453: Was restored with the Provisional Government of the French Republic (GPRF). This interim government, established by de Gaulle, continued to wage war against Germany and to purge collaborators from office . It made important reforms e.g. suffrage extended to women and the creation of a social security system. A new constitution resulted in the Fourth Republic (1946–1958), which saw strong economic growth ( les Trente Glorieuses ). France
21016-430: Was sentenced to 10 years in prison for fraud relating to the collapse of the dairy group. The other seven defendants, including executives and bankers, were acquitted. Another eight defendants settled out of court in September 2008. New leadership at Parmalat began investigating and suing Bank of America, Deloitte and Grant Thornton International – the bank and auditing firms that were alleged to have helped in perpetuing
21164-608: Was set to impose a carbon tax in 2009; however, the plan was abandoned due to fears of burdening French businesses. Forests account for 31 per cent of France's land area—the fourth-highest proportion in Europe—representing an increase of 7 per cent since 1990. French forests are some of the most diverse in Europe, comprising more than 140 species of trees. France had a 2018 Forest Landscape Integrity Index mean score of 4.52/10, ranking it 123rd globally. There are nine national parks and 46 natural parks in France. A regional nature park (French: parc naturel régional or PNR)
21312-525: Was signed in August 2006. Prior to the transaction, BankBoston's Brazilian operations included asset management, private banking, a credit card portfolio, and small, middle-market, and large corporate segments. It had 66 branches and 203,000 clients in Brazil. BankBoston in Chile had 44 branches and 58,000 clients and in Uruguay, it had 15 branches. In addition, there was a credit card company, OCA, in Uruguay, which had 23 branches. BankBoston N.A. in Uruguay, together with OCA, jointly served 372,000 clients. While
21460-400: Was surprised to discover that, though now CFO, he still did not have access to some of the corporate books, which were being handled by chief accounting officer Luciano Del Soldato . He began making some inquiries and began to suspect that the company's total debt was more than double that on the balance sheet. The plan for a €300 million fundraising effort was dropped in September 2003, and
21608-403: Was the investment banking subsidiary of BoA from 1998 until BoA was merged with Merrill Lynch (2008). Headquartered in New York City, the company competed in both the domestic and international equity and investment banking markets. The company was a registered broker-dealer with the United States Securities and Exchange Commission (SEC) and was a member of the New York Stock Exchange and
21756-414: Was the nominal survivor, the merged bank took the better-known name of Bank of America. Hence, the holding company was renamed Bank of America Corporation, while NationsBank, N.A. merged with Bank of America NT&SA to form Bank of America, N.A. as the remaining legal bank entity. The combined bank operates under Federal Charter 13044, which was granted to Giannini's Bank of Italy on March 1, 1927. However,
21904-404: Was unseated following defeat in the Franco-Prussian War of 1870, and his regime replaced by the Third Republic . By 1875, the French conquest of Algeria was complete, with approximately 825,000 Algerians killed from famine, disease, and violence. France had colonial possessions since the beginning of the 17th century, but in the 19th and 20th centuries its empire extended greatly and became
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