Moynihan Blocks Bank of America Broker Pay Cut

Dec. 20 (Bloomberg) -- Bloomberg's Michael Moore reports that Bank of America CEO Brian Moynihan blocked a proposal to cut the main component of most brokers’ pay for 2013. The plan would have reduced the so-called grid payout for Merrill Lynch financial advisers by two percentage points. He speaks on Bloomberg Television's "Market Makers."

Why Cisco Is Forecasting Sales That May Beat Estimates
41:47 - Chuck Robbins, Cisco's chief executive officer, discusses what's behind Cisco's successful second-quarter earnings and sales growth forecast with Emily Chang on "Bloomberg West." (Source: Bloomberg)
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