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Britain's state-rescued Lloyds Banking Group said on Thursday that net profits slumped 57 percent in the first half, hit by compensation for insurance mis-selling and fines over Libor rate rigging. Earnings after taxation dived to £665 million ($1.125 billion, 840 million euros) in the six months to June. That was down from £1.560 billion a year earlier when results were boosted by sales of assets and government bonds, LBG said in a statement.

BNP Paribas bank revealed a net loss of 4.3 billion euros ($5.75 billion) for the second quarter on Thursday, holed by charges for a record US fine for sanctions busting. The French bank, a leading bank in Europe, said the overall loss was also weighed down by charges for new compliance procedures to ensure that such errors do not occur again.
American Express Co reported a 9 percent rise in second-quarter profit as more customers used its credit cards in a recovering US economy. Card member spending rose 9 percent globally to $258 billion, after adjusting for foreign currency, compared to 7 percent growth in the preceding quarter and 8 percent growth in the second quarter last year. Growth in billed business volumes was encouraging, Keefe Bruyette & Woods analyst Sanjay Sakhrani said. "We are starting to see some traction in the United States as well as in Europe."
Ryanair raised its full-year profit forecast on Monday as a campaign to improve service quality pulled more customers away from its struggling rivals. Europe's biggest no-frills airline has let travellers choose their seats, eased restrictions on hand luggage and cut penalty charges, giving them fewer reasons to book flights with more expensive, full-service airlines. It is also trying to focus on more primary airports that land holidaymakers and business travellers closer to their destinations, addressing another weakness versus competitors.
Bahrain Telecommunications Co (Batelco) posted a 22.4 percent drop in second-quarter profit on Sunday, according to Reuters calculations, hurt by continued intense competition in core markets and one-off adjustments. The former monopoly made a net profit of 10.4 million dinars ($27.6 million) in the three months to June 30, down from 13.4 million dinars in the year-earlier period.
Austrian state holding company OIAG is likely to keep its 28.4 percent stake in Telekom Austria in a capital increase of up to 1 billion euros ($1.3 billion), the OIAG's head told the Kurier newspaper. "In all likelihood, yes," Rudolf Kemler said when asked by the Austrian newspaper if the OIAG would keep its stake. The OIAG had said until now only that it would keep a so-called blocking minority of 25 percent, enough to veto big decisions.
French pharmaceutical group Sanofi said in a statement on Friday that it estimates that negative foreign currency impact on its second-quarter 2014 financial results should be about 6 percentage points on sales and 8 to 10 percentage points on business earnings per share (EPS).

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln