BANK of America agreed to buy a portfolio of commercial real estate loans from WaFd for about US$2.9 billion, helping the regional lender reduce its exposure to a sector that has raised red flags for regulators and investors.
THE dollar edged up against major currencies on Friday (May 17) but was still headed for a weekly fall, as market speculation continues to swirl about the timing of Federal Reserve rate cuts amid signs of cooling inflation and a softening US economy.
