loss

$553 million in losses posted by London Stock Exchange

May 20, 2009 - 9:40am | Figures | News

The London Stock Exchange has posted a full-year loss of 338 million pounds ($553 million) for the year ending March 31, mainly due to a heavy charge and one-off losses related to the takeover of Borsa Italiana.

It should be noted that in the previous year the bank had made a profit of 168.3 million pounds. Revenues of the bank increased 23 percent and made 671.4 million pounds.

a full year report | Borsa Italiana | London Stock Exchange | loss | Stock market

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JPMorgan beats experts' expectations with $1.6 billion profits

April 16, 2009 - 9:16am | Banks and internet banks | News

JPMorgan Chase & Co, the second-largest US bank, reported on Thursday its first-quarter profits were $1.6 billion exceeding thus the forecasted figures. The revenue is up from a loss of $87 million a year earlier, according to the Reuters. Improved investment banking performance offset an increase in losses from credit cards and other consumer debt became a result of the better-than-expected benefits.

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Fannie Mae needs another bailout to cover $25.2 billion loss?

February 27, 2009 - 8:56am | Banks and internet banks | News

Fannie Mae has announced that its fourth quarter for 2008 losses made more than $25 billion. The company has been expecting similar results from the period. The company also revealed that its conservator, the Federal Housing Finance Agency, asked the Treasury Department for $15.2 billion in order to cover its losses at the end of 2008.

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Moneysupermarket.com incurs £51 million as the next blow of the crisis

February 26, 2009 - 9:28am | News | Other themes

Being the latest victim of the world financial crisis the internet price comparison group Moneysupermarket.com reported a high loss of £51 million for the year ended December 31, 2008 after a £70 million goodwill impairment charge. Within the six months and nine days to December 2007, it made a £7.55 million pre-tax profit.

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Despite multi-billion losses Wells Fargo became the strongest bank in 2008

January 28, 2009 - 2:45pm | Banks and internet banks | News

Wells Fargo & Company has issued today its Q4 and full year report. The bank has stated that its Q4 loss amounted to $2.55 billion, $0.79 per share after significant de-risking and merger-related actions were taken. Full year net income amounted to $2.84 billion, $0.75 per share. As for Wachovia, which has been acquired by Wells Fargo on December 31, 2008, its losses exceeded $11 billion, including $2.8 billion deferred tax asset write-down, $4.2 billion credit reserve build and $4.3 billion of market disruption losses.

full year report | income | loss | Wachovia | Wells Fargo & Company

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Philips sees $1.9 billion loss and cuts 6,000 jobs

January 26, 2009 - 12:50pm | News | Other themes

On Monday Europe's largest consumer-electronics firm, Royal Philips Electronics, that also produces healthcare and lighting, equipment announced it swung to a fourth-quarter loss of 1.47 billion euros ($1.9 billion) or 1.57 euros a share, compared to a profit of 1.39 billion euros, or 1.30 euros a share, earned in the year-earlier quarter. That was the company's first quarterly loss since the first quarter of 2003. Company also reveals plans to cut 6,000 jobs in 2009.

Crisis | job cut | loss | Philips | profit

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Bank of America announces great losses. Full year report

January 17, 2009 - 12:17pm | Banks and internet banks | News

Bank of America Corporation has announced its full-year 2008 profit. According to the report BofA has earned only $4.01 billion compared with net income of $14.98 billion a year earlier. Earnings after preferred dividends and available to common shareholders were $2.56 billion, or $0.55 per diluted share, down from $14.80 billion, or $3.30 per share.

Bank of America | economic recession | loss | Merrill Lynch | profit

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U.S. banks in need of fresh capital for 2009

January 8, 2009 - 12:49pm | Banks and internet banks | News

The Oppenheimer analyst Meredith Whitney speaks about the further stresses on the companies’ capital in 2009 as a result of a sharp increase in credit-rating downgrades on mortgage-related securities. She notes that U.S. banks will have to raise fresh capital in 2009. Whitney pointed that from July 2007 to date, over $5 trillion worth of securities have been downgraded with the pace of downgrades rapidly increased through 2008.

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About 220 U.S. sports organizations face loss of online payments

January 5, 2009 - 1:49am | News | Other themes

Little Leagues is announced as one of the sports organizations in the United States that face losses after an online payment company stopped handing over dues and other funds that it was collecting. The missing payments achieved $ 5 million totally. It is the data given by Washington state-based Count Me In Corp. Such situation made many of the organizations wondering how they will make up the difference.

bankruptcy | Credit card | loss | online payments

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First Data has earned $2.2 billion in Q3

November 14, 2008 - 4:50am | News

First Data Corp. today reported its financial results for the third quarter of 2008. Consolidated revenues were up 4% to $2.2 billion. The adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were up 7% to $694 million.

EBITDA | First Data | income | interest expense | loss

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