Warren Buffett Invests $5bn In Bank of America

Billionaire investor Warren Buffett has thrown Bank of America a $5bn (£3.07bn) lifeline, capping an extraordinary week for the US's biggest bank. ... "Bank of America is a strong, well-led company, and I called Brian [Moynihan, Bank of America's chief executive] to tell him I wanted to invest in it," Buffett said. "I am impressed with the profit-generating abilities of this franchise, and that they are acting aggressively to put their challenges behind them. "Bank of America is focused on their customers and on serving them well. That's what customers want, and that's the company's strategy." – UK Guardian