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Wednesday, British Land Co. Plc, a property and investment company, reported a wider net loss for the second quarter, hurt by higher write-downs on its property portfolio. However, underlying profit edged up from last year. The company also declared a 7% higher interim dividend.
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Wednesday, British property investor Land Securities Group Plc (LAND.L) reported a huge first-half loss compared to a profit last year, hurt by revaluation deficit on its investment property portfolio. Excluding items, the company's earnings per share increased 14.7% from last year. Separately, Land Securities said it named Alison Carnwath as the new Chairman with immediate effect, replacing Paul Myners who got appointed as a Government Minister.
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Land Securities is mothballing its planned three-way demerger because of the "unprecedented period of financial instability" which has seen the company's net asset value down nearly a fifth in six months.
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Tuesday, British Energy Group Plc (BGY.L, BEYGF.PK), an operator of eight nuclear power stations in the UK, reported a loss in its second quarter, hurt by lower Nuclear output, mainly due to Boiler Closure Unit outage at Hartlepool and Heysham 1 reactors. The takeover target of French energy giant Electricite De France, or EDF SA, (ECIFF.PK) noted that the expected return of five reactors to service before December-end may result in improved output and performance in the second half.
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A portable computer hard drive that may have carried personal details on 100,000 British military service members is missing, the Ministry of Defense said.
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Jubilant Organosys Ltd., an integrated pharmaceutical company, in a filing with the Bombay Stock Exchange, reported a loss for the second-quarter, hurt by a one-time charge related to restatement of foreign currency borrowings. However, the company's quarterly net sales registered a growth of 52%.
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Thursday, financial services giant Citigroup Inc posted a huge loss for its third quarter, compared to a profit last year, impacted primarily by fixed income write-downs and higher consumer credit costs. The company's top line fell 23% from last year, reflecting sharply lower results from Global Cards and Institutional Clients divisions, and North American and Latin American regions.
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Merrill Lynch reported a third-quarter net loss of $7.5bn on write-downs and credit losses on complex debt securities
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NEW YORK (Reuters) - Housing and credit market turmoil drove Citigroup Inc to its fourth straight quarterly loss and $13 billion of write-downs and credit losses, but the giant U.S. bank still wants to acquire deposits after its bid to acquire much of Wachovia Corp failed.
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NEW YORK -- Citigroup Inc., suffering its fourth straight quarterly loss and forfeiting the title of largest U.S. bank by assets, is falling behind in the historic reshuffling of the U.S. banking system.
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Continental also reports a third-quarter loss. Southwest Airlines Co. posted its first quarterly loss in 17 years as a program that it had used in the past to cut fuel costs backfired amid the recent sharp drop in oil prices.
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HOUSTON (AP) -- Halliburton on Monday posted a $21 million third-quarter loss due largely to a big debt repayment, but the oilfield services company did booming business and its top executive maintained a positive outlook in the face of the global economic slowdown.
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Flash memory card maker says it is still open to a Samsung offer and hinted at more restructuring to come.
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Canada's diversified financial services company Sun Life Financial Inc. Tuesday reported a loss for the third quarter, compared to a profit last year, significantly impacted by a deterioration in global capital markets.
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The medical device maker said that its net loss narrowed in the third quarter on lower special charges, though sales of its stent products also fell.
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Wachovia Corp on Wednesday posted a $23.9 billion third-quarter loss, a record for any U.S. lender in the global credit crisis.
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Home Inns & Hotels (HMIN) gapped open lower and has continued to ease throughout most of the first two hours of trading. The stock is posting its fourth loss in a row and is at a new low, down $1.10 at $8.25.
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Dana Holding (DAN) has eased steadily throughout the first 40 minutes of trading. The stock posted its fourth loss in a row and is at a new low, down 29 cents at $2.30.
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Troubled financial services firm Wachovia Corp Wednesday reported a hefty loss for the third quarter, hit by goodwill impairment and market disruption losses. In early October, Wells Fargo & Co had reached a definitive deal to acquire Wachovia for about $15.1 billion in a stock-for-stock transaction. Wells Fargo's president and chief executive officer John Stumpf said Wachovia's third-quarter results were very much in line with its expectations.
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Wednesday, Home Retail Group Plc (HOME.L) reported a loss in its first half of fiscal 2009 compared to a profit last year, mainly due to write-downs. On a benchmark adjusted basis, pre-tax profit fell 19%, reflecting lower like-for-like sales at both Argos and Homebase divisions. The company also said that if the challenging conditions continue through its peak trading months of November and December, the yearly profit would likely be around the bottom of current market expectations.
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The large U.S. lender preparing to be taken over by Wells Fargo announced the biggest quarterly loss for any bank since the financial crisis began.
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Excluding the charge, the U.S. airline reported a profit that beat Wall Street expectations. Northwest, which is merging with Delta Air Lines linked the profit to gains in revenue on each seat flown.
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NEW YORK (Reuters) - Property insurer Travelers Cos Inc (TRV.N) and Allstate Corp (ALL.N), the largest publicly traded U.S. home insurer, reported weaker results, hurt by higher catastrophe losses.
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Wachovia posted a $23.9 billion quarterly loss, as its portfolio of loans deteriorated and deposits fled the bank, laying bare the serious financial straits the company was in before Wells Fargo announced it would buy it this month.
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Thursday, Swiss financial services firm Credit Suisse Group (CS) reported a loss in the third quarter, hurt by write-downs in its investment banking business. The company said the investment banking business witnessed significant net valuation reductions in its structured products and leveraged finance businesses, amid the ongoing turmoil in credit markets. Total net revenues for the third-quarter fell 60%. Going forward, Credit Suisse said it expects the market environment to remain very challe
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Thursday, Swiss financial services firm Credit Suisse Group reported a loss in the third quarter compared with a profit last year, hurt by write downs in its Investment Banking business amid the ongoing turmoil in credit markets. Net revenues were down 60% in the quarter. Going forward, Credit Suisse expects the market environment to remain very challenging and said it is cautious regarding the outlook for the fourth quarter.
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Wednesday, student loan provider SLM Corp. (SLM), also known as Sallie Mae, reported third quarter net loss that narrowed from last year in the midst of credit crises. However, core earnings per share missed analysts' expectations.
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The bank blamed bad investments and the global financial turmoil, and said it was working to further cut its exposure to toxic assets.
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The drugmaker posted a loss of $465.6 in the third quarter on a charge of almost $1.5 billion for an expected settlement of investigations into the marketing of its top-selling drug, Zyprexa.
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When FBR Capital Markets debuted as a public company in the summer of 2007, executives there hoped to separate the Arlington investment bank from its ailing parent company, Friedman, Billings, Ramsey Group, which had been hammered by mortgage-related losses.
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Supercar designed to break the world land speed record has been unveiled.
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Leucadia National (LUK) gapped open lower and has continued to sink steadily throughout the first 50 minutes of trading. The stock is posting its third consecutive loss and is at its lowest level since December 2005, down $4.56 at $23.32.
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Silicon Laboratories (SLAB) has eased steadily throughout the first 25 minutes of trading. The stock is posting its third loss in a row and is at a new low, down $1.24 at $22.17.
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Millicom International Cellular (MICC) has dropped throughout the first 15 minutes of trading. The stock is posting its third loss in a row and is at its lowest level since January 2006, down $2.03 at $32.91.
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Pharmaceutical products maker Eli Lilly and Co. Thursday reported a net loss for the third quarter, compared to a profit a year ago, hurt by charges related to the ongoing U.S. Attorney investigations on past U.S. marketing and promotional practices for its antipsychotic drug Zyprexa. Further, the company reduced its 2008 earnings outlook to reflect these charges. However, on a non-GAAP bais, the outlook is above the prior forecast.
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The airline reported a third-quarter loss of $865 million, hurt by a spike in fuel prices in July and then a rapid decline that eroded the value of its fuel hedges.
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The company posted a third-quarter loss of $3.7 million as advertising revenue in its publishing division fell 18 percent and said ad results in the current quarter were down.
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TOKYO -- Nomura Holdings Inc. said Tuesday it stayed deep in the red for the third straight quarter as ongoing fallout from the global financial turmoil squeezed Japan's biggest brokerage just as it embarked on a major overseas offensive.
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Tuesday, Vishay Intertechnology Inc, a maker of semiconductors and passive electronic components, reported a loss for the third quarter despite higher revenues, hurt by a non-cash goodwill impairment charge and other one-time items. However, on an adjusted basis, the company posted a profit. Vishay also provided sales outlook for the fourth quarter, which is below analysts' estimates.
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Asset management firm Legg Mason, Inc. (LM) Wednesday reported a loss for the second quarter from profit last year, primarily due to charges taken to support its money market funds after insecure clients pulled out their money from the company's funds. Also, assets under management were significantly lower than last year, due to the extreme dislocation in the markets.
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The adviser and asset manager said its net loss was $77.0 million, or $1.17 a share, compared with a profit of $40.3 million, or 73 cents, a year-earlier.
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Alcatel-Lucent posted a loss yet again, the reported net loss for the third quarter was reported at €40 million (US$52.64 million), as sales to carriers dropped, it reported on Thursday. Although the loss is smaller than a year ago, when the company reported a net loss at €345 million.
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NEW YORK (AP) -- Motorola Inc. posted a hefty loss in the third quarter Thursday, citing the continued troubles of its cell phone division. The company will postpone the planned spin-off of the unit, and cut more jobs....
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NEW YORK (AP) -- Video game publisher Electronic Arts Inc. posted a wider quarterly net loss Thursday and said it is laying off about 6 percent of its work force to cut costs as it heads into the most lucrative season for the games industry....
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Motorola Inc, the world's third- largest maker of mobile phones, posted an unexpected third- quarter loss after surrendering sales to Samsung Electronics Co. and Nokia Oyj, and delayed a plan to break up the company.
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The company cites the continued troubles of its cellphone division in reporting the third-quarter loss. Motorola posts big loss, plans to cut 3,000 jobs
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Sun Microsystems Inc. posted a $1.7 billion loss for its latest quarter Thursday as the maker of servers and business software wrote down the value of the company because of the slow economy and a huge decline in its stock price.
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THIS year's Australian Formula One Grand Prix lost a record $40 million dollars, the Victorian state government has admitted.
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