Bank of America to Slash 16,000 Jobs by Year-End

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Sept. 20 (Bloomberg) -- In "Street News," Bloomberg's Scarlet Fu reports on today's top stories including Bank of America is set to cut 16,000 by the end of the year, Nike will buy back $8 billion in stock over the next four years, GM looks to buy the auto-lending units of Ally Financial in Europe and Latin America and 6 million Americans face a health care penalty for not having health insurance. She speaks on Bloomberg Television's "Bloomberg Surveillance."