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Mary Childs

BANK OF AMERICA expects to use consumer deposits to fund operations for the next three years, thanks to an aggressive debt-reduction program it has undertaken. / BLOOMBERG NEWS FILE PHOTO/DAVID PAUL MORRIS

BofA’s debt cuts leave 3-year capital cushion

CHARLOTTE, N.C. - Bank of America Corp.’s record $53 billion reduction of long-term debt in the second quarter will help the lender go three...

Sears distressed as investors reject closings

NEW YORK - Sears Holdings Corp.’s bonds have crossed into distressed territory as its plan to close as many as 120 locations - but...
THE COST TO protect Fortune Brands Inc.'s debt from default dropped after the company said it will spin off its home and security division and sell - or otherwise divest - its golf unit, the Fairhaven-based Acushnet Co., maker of Titleist golf balls. /

Fortune Brand credit-default swaps tumble on Ackman breakup

NEW YORK - The cost to protect Fortune Brands Inc.’s debt from default dropped after the maker of Jim Beam bourbon said it will...

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