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J.P. Morgan Chase shareholders Tuesday rejected a proposal to split the chairman and chief executive roles, handing bank chief Jamie Dimon a big victory. The shareholder proposal to split his two roles won just 32.2 percent of votes cast, according to preliminary results released at the bank's annual meeting in Tampa, Florida. Shareholders at the nation's largest bank by revenues also reelected the entire J.P. Morgan board, although some board members won by slim majorities.

US home-improvement retailer The Home Depot reported better-than-expected quarterly earnings Tuesday and raised its full-year outlook thanks to the US housing market recovery. For the fiscal first-quarter ended May 5, earnings surged 18.5 percent from a year earlier to $1.2 billion, the company said in a statement.
Britain's state-run postal service Royal Mail announced a surge in annual net profits on Tuesday, thanks to increasing popularity of online shopping, and as the company readies for privatisation. The group's performance was also lifted by deep cost-cutting and big increases in stamp prices. Profit after tax soared to £566 million ($857 million, 667 million euros) in the year to the end of March, compared with a net gain of £149 million in 2011/12.
British mobile phone giant Vodafone on Tuesday reported a 90-percent plunge in annual net profit after taking a vast impairment charge relating to poor business in debt-laden eurozone nations Italy and Spain. Updating the market, Vodafone was meanwhile silent surrounding recent speculation that it may offload its sizeable stake in Verizon Wireless, the US mobile operator.
A sharp rise in earnings from add-on charges for items such as baggage and pre-assigned seating helped boost Ryanair's earnings above expectations in the past year, lifting its shares to a record high. Ryanair, which helped pioneer a business model in which low ticket prices are supplemented with charges for extras like printing boarding passes and carrying luggage, flew 5 percent more passengers last year, but earned 20 percent more on extras.
LATAM Airlines Group SA's first-quarter net profit skidded to $42.7 million, or nearly half of a year earlier, on foreign exchange fluctuations, a drop in cargo revenue and the grounding of its three Dreamliners, the company said on May 14.
Japan's Nissan said on May 17 that its annual net profit had barely moved from a year earlier despite market conditions that helped rivals Toyota and Honda book soaring profits. The pair logged huge gains largely owing to a sharply weaker yen and cost-cutting that helped inflate their bottom line.

 



 
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Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyApril
Trade Balance $-1.779 bln
Exports $2.130 bln
Imports $3.909 bln
WeeklyMay 20, 2013
Reserves $11.601 bln