Briefs: Bank of America to cut 3,000 jobs

CHARLOTTE, N.C. -- Bank of America said Wednesday it will eliminate 3,000 jobs, an announcement that came less than a week after the nation's second-largest bank reported a huge drop in earnings for the third quarter. The cuts will affect less than 2 percent of the company's staff. Most of them will be from Bank of America's investment banking unit, the Charlotte-based bank said.

Shareholders reject bid for Cablevision

BETHPAGE, N.Y. -- The Dolan family, which built Cablevision Systems Corp. into one of the most successful cable TV providers in the country, is going to have to keep dealing with public stockholders for the foreseeable future. Shareholders rejected a $10.6 billion bid from the Dolans Wednesday to take Cablevision private. Cablevision has 3 million cable customers in the New York area and owns Madison Square Garden and the New York Knicks.

Korean exchange partners with CME

CHICAGO -- An agreement allowing the CME Group to trade a Korean Exchange index of 200 stocks will give both exchanges greater global reach, exchange officials said Wednesday. CME Group CEO Craig Donohue and Korea Exchange CEO Lee Young-tak signed a letter of intent at the Chicago Mercantile Exchange that will allow the KOSPI 200 futures contract to be listed on CME's Globex electronic trading platform beginning next year.

Calamos sees profits slip

NAPERVILLE -- Calamos Asset Management reported late Tuesday it earned $7.1 million, or 32 cents per diluted share,in the quarter ended Sept. 30, down 11.3 percent from $8 million, or 34 cents per diluted share,in the same quarter last year.A 12 percent increase in operating expenses, tied primarily to employee compensation, led to the decline in net income, according to the Naperville company.