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Jobless claims drop to 41-1/2-year low

The number of Americans filing new applications for unemployment benefits last week fell to its lowest level in more than 41-1/2 years. Initial claims for state unemployment benefits declined 26,000 to a seasonally adjusted 255,000, the lowest level since November 1973.

Bank of America replaces CFO in management shake-up

Bruce Thompson, 51, who has been the CFO and chief risk officer of the bank for more than five years, will be replaced by Paul Donofrio from Aug. 1, the bank said in a statement. Donofrio is currently CFO of the consumer banking and wealth management businesses, and has been with the company since 1999. The bank also said David Darnell, the head of wealth management, would retire.

Ferrari files for share listing on the NYSE

Fiat Chrysler Automobiles NV’s plan to raise money by spinning off Ferrari took a step forward with the automaker filing for the unit’s initial public offering on the New York Stock Exchange. Fiat Chrysler, which has estimated the supercar division’s value at more than $11 billion, plans to complete the separation in early 2016, the Italian-American manufacturer said in a filing with the U.S. Securities and Exchange Commission. The stock