BRIEFCASE.Byline: -- Staff and Wire Services BofA to give cash for hybrid buys In an effort to help its employees go green, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. will announce today a $3,000 rebate for workers who purchase hybrid vehicles. Tested in Los Angeles, Boston and Charlotte, N.C., the company will offer the money to full-time and part-time employees who work more than 20 hours a week. More than 21,000 workers who live within 90 miles of the three cities will be eligible. Settlement boosts HP's Q2 profits SAN JOSE -- Hewlett-Packard Co., a maker of computers and printers, raised its second-quarter profit by $443 million Tuesday and boosted its income forecast for the remainder of the year to reflect a tax settlement with the U.S. government. The Palo Alto-based company said the settlement increased its previously reported second-quarter profit by 15 cents a share, bringing net income for the three months ending April 30 to $1.9 billion, or 66 cents a share. HP's net income was $966 million, or 33 cents in the same period of 2005. WaMu sued over labor, pay issues SEATTLE -- Two law firms representing former employees of Washington Mutual Inc. in California, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Illinois have sued the Seattle-based savings and loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. , accusing the company of violating labor laws by failing to pay overtime and the federal minimum wage. The complaint, filed Monday in New York federal court, alleged that in some cases, Washington Mutual home loan consultants were not paid for hours they worked on a case if they did not close the loan. The lawsuit names three plaintiffs who once worked as Washington Mutual home loan consultants: one in Modesto, one in Hauppauge, N.Y., and one in Chicago. The law firms of Nichols Kaster & Anderson PLLP PLLP Professional Limited Liability Partnership (business operating entity) , based in Minneapolis, and New York-based Outten & Golden LLP LLP - Lower Layer Protocol said they will ask that the case be certified as a class action that includes current and former home loan consultants who worked for the company nationwide. Federated Connected and treated as one. See federated database and federated directories. Stores to restate profits CINCINNATI -- Federated Department Stores Inc. plans to restate past financial results to reclassify Verb 1. reclassify - classify anew, change the previous classification; "The zoologists had to reclassify the mollusks after they found new species" class, classify, sort out, assort, sort, separate - arrange or order by classes or categories; "How would you $2.2 billion in proceeds from the sale of its credit card accounts to Citibank. The parent of Macy's and Bloomingdales said Tuesday in a filing with the Securities and Exchange Commission that the reclassification Reclassification The process of changing the class of mutual funds once certain requirements have been met. These requirements are generally placed on load mutual funds. Reclassification is not considered to be a taxable event. of proceeds from the October sale of FDS FDS Fim-De-Semana (Portugese: weekend) FDS Federated Department Stores, Inc. FDS Fiche de Données de Sécurité (Material Safety Data Sheets) FDS Famicom Disk System FDS Faculty of Dental Surgery Credit Assets is expected to increase the net cash from continuing operations for fiscal year 2005 by $2.2 billion to $4.15 billion. Gap to update, reorganize stores NEW YORK -- Gap Inc. said it will reorganize its stores this fall into four different sections based on merchandise categories, adding that it will update its fashions more often. Beginning in July, an in-store denim ``shop'' will sell skirts and jeans in a greater variety of washes and fits Cynthia Harriss, president of U.S. Gap stores, told investors Tuesday at a conference in New York hosted by Piper Jaffray Cos. An activewear shop will focus on key items such as sweat shirts and hoodies. And a ``clean'' shop will sell items including black pants, khakis, skirts and woven tops. A T-shirt shop will likely be placed at the front of the stores in the summer months, but the shops will rotate positions with the seasons, Harriss said. |
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