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    Bank Of America Reports $6.2 Billion Profit

    Though the number is huge — $6.2 billion — this morning's third-quarter profit news from Bank of America is generating a lot of "yeah, but" analyses.

    As in:

    -- "It booked that profit largely on selling a bunch of assets and an accounting bonus to account for the declining value of its debt." (The Wall Street Journal)

    -- "The quarter's results were skewed by one-time pretax gains including $4.5 billion in fair-value adjustments of structured liabilities, $3.6 billion from selling a stake in China Construction Bank Corp. and $1.7 billion tied to changes in value of the company's debt." (Bloomberg Businessweek)

    -- "Stripping out a litany of exceptional items, from a $3.6 billion gain due to the CCB stake sale to a $4.5 billion boost from an accounting rule that allows banks to book a profit on the falling value of their own debt, BofA's businesses produced a loss." (The Financial Times)

    The bank's recent announcement of plans to charge many customers $5 a month if they make purchases with their debit cards has not gone over well with some folks, including President Obama.

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    WAMU 88.5

    Verdine White On 45 Years With Earth, Wind & Fire

    Forty-five years ago, the band “Earth, Wind and Fire” introduced audiences to a new kind of funk--one that fused soul, jazz, Latin and pop. Bassist Verdine White talks to guest host Derek McGinty about breaking racial boundaries in music and how the band is still evolving.

    NPR

    If War Is Hell, Then Coffee Has Offered U.S. Soldiers Some Salvation

    "Nobody can soldier without coffee," a Union cavalryman wrote in 1865. Hidden Kitchens looks at three American wars through the lens of coffee: the Civil War, Vietnam and Afghanistan.
    WAMU 88.5

    What's Ahead At The Democratic National Convention

    The Democratic National Convention gets underway in Philadelphia, where Hillary Clinton will accept the presidential nomination.

    NPR

    What Verizon Will Get When It Buys Yahoo

    Verizon is announcing a deal to buy Yahoo's Internet business on Monday. The telecom giant is eyeing Yahoo's content — and more opportunities to sell ads on it.

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