Bank of New York Co. has agreed to take over Mellon Financial Corp. in a $16.5 billion all-stock deal that will create the world's largest securities servicing company and one of the biggest asset managers.

NEW YORK - Bank of New York Co. has agreed to take over Mellon Financial Corp. in a $16.5 billion all-stock deal that will create the world's largest securities servicing company and one of the biggest asset managers.

NEW YORK (Reuters) - A former Bank of New York Co. vice president and her husband were sentenced on Wednesday to six months home confinement after admitting to involvement in a $7 billion Russian money-laundering conspiracy, a spokeswoman for the U.S. Attorney in Manhattan said.

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