The Traderszone Network

Bank of America Corp. is being investigated by the Securities and Exchange Commission over whether the lender broke rules designed to safeguard customer accounts, according to the Wall Street Journal. The bank’s Merrill Lynch unit used a variety of large, complex trades and loans over a three-year period to save on funding costs and free up billions of dollars in cash and securities for trading that the firm would otherwise have needed to keep off-limits, the newspaper reported Tuesday, citing people familiar with the inquiry without naming them.

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The cost to rebuild Nepal after its most devastating earthquake in eight decades will exceed $10 billion and take years, Finance Minister Ram S. Mahat said. “We have reason to believe that there are survivors in the rubble but we don’t have equipment to deal with the situation,” Mahat said at his office in the capital of Kathmandu. His reconstruction estimate is equivalent to about half of Nepal’s $20 billion economy, which is smaller than all 50 U.S. states. Heavy rains in Kathmandu on Tuesday impeded efforts to find any remaining survivors.

The head of the Eurogroup said on Tuesday that a recent shakeup of Greek Prime Minister Alexis Tsipras’ negotiating team would not by itself resolve the impasse between Greece and its creditors, and Athens would need new loans to stay afloat. “Without further loans, Greece won’t make it, that’s the reality,” said Jeroen Dijsselbloem, the Dutchman who heads the group of finance ministers of countries that use the euro.

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Pay $4,950 for a parabolic flight or apply for a one-way ticket to Mars, writes Jurica Dujmovic.
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Coach stock falls after its earnings report shows disappointing sales. On the other hand, margins and inventory levels are showing encouraging signs.

Shares of Apple are still “undervalued and misunderstood” despite a dizzying climb so far this year, Carl Icahn said.

Software helps companies gauge pricing, marketing and merchandising.
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