Just a day after news that Goldman Sachs will make big job cuts in Asia, CNBC reports that Bank of America is doing something similar. BoA will cut about two dozen investment banking jobs in the region, in response to a drop in activity and a directive to reduce costs. BoA's income from Asia fell three per cent in 2015. The European Union may opt out of new global rules aimed at preventing another financial crash because officials are worried they put European banks at a disadvantage at a time when they are losing market share to US rivals, Reuters reports. EU officials say the changes will make European banks and their large loan portfolios look more risky, and hence need more capital, than US banks which provide more bond financing and package mortgages on for trading elsewhere.