Citigroup swung to a huge loss in the first quarter, hurt in part by poor performance and write-downs at its alternative investments business.
The losses at Citi Alternative Investments were a relative drop in the $5.1 billion bucket of red ink: the group recorded “negative revenue†of $358 million “on sharply lower proprietary revenues†and $212 [...]
New Zealand has a challenge. Currently we sit among the bottom 25% of all OECD countries for productivity.
The common reaction to low productivity is to work more hours. New Zealand has embraced this concept and we now work some of the longest hours in the developed world. The result however is not increased productivity, rather [...]
LONDON, March 19 (Reuters) - Britain’s FTSE 100 .FTSE index is expected to
open as much as 0.7 percent higher on Wednesday, according to financial
bookmakers, echoing gains in global equities after a hefty interest rate cut in
the United States and resilient results from two Wall Street banks.
U.S. stocks rang up [...]
The FINANCIAL — BSI Georgia, the local representation of Brain Source International (BSI) - an international recruiter, has become the winner of Golden Brand 2007 awards.
ADVERTISEMENT
The company claimed to have recruited 70 top management professionals at different companies in Georgia over the last year. During the first year [...]
The FINANCIAL — HPÂ on March 17Â announced a set of products and services designed to help customers transform their data centers from a standalone collection of physical assets into a virtual and adaptive infrastructure designed to rapidly meet changing business needs.
ADVERTISEMENT
New research conducted on behalf of HP shows that [...]
NEW YORK (CNNMoney.com) — Lehman Brothers‘ shares soared Tuesday after the firm reported quarterly results that topped Wall Street’s forecasts. Just a day earlier, investors had wondered about the firm’s ability to withstand the turmoil in financial markets.To be sure, the brokerage’s first-quarter figures were dismal. Profit and revenue fell sharply from last year and [...]
Derivatives Sins Need Absolution in Jefferson County: Joe Mysak
Commentary by Joe Mysak
March 18 (Bloomberg) — Jefferson County, Alabama, wants to
get out of the swaps business.
The county, where the city of Birmingham is located, [...]
NEW YORK (CNNMoney.com) — The analysts have been preparing us for months. This quarter’s Wall Street bank earnings are going to be bad — real bad.Next week, we’ll see just how right they are when Goldman Sachs Group Inc., Lehman Brothers Holdings Inc., Morgan Stanley and Bear Stearns Companies, Inc. report first-quarter earnings.Friday’s announcement of [...]
(Adds more company items, comment,updates table)
LONDON, Feb 25 (Reuters) - European shares were set to rally on Monday,
tracking gains in the United States and Japan on talk of a U.S. bond insurer
rescue plan that could limit damage to the banking industry and credit markets.
Japan’s Nikkei average rose more [...]
(Recasts first paragraph, adds background)
FRANKFURT, Jan 16 (Reuters) - Deutsche Bank (DBKGn.DE: Quote, Profile, Research) will
cut up to 300 jobs worldwide in investment banking, or 2
percent of its workforce in that unit, and will use savings to
focus on faster growing businesses, a spokesman for the bank
said on Wednesday.
The German [...]
