Latest News Articles:
- (31.07.2009) Mitsubishi UFJ Posted Its Quarterly Profit...
- (30.07.2009) Kodak Accounts Third Straight Loss As Sales Tumble...
- (29.07.2009) US and China Exhibit Integrated Econmic Stand...
- (28.07.2009) FTSE 100 Index Slides, Breaking It's 11 Day Streak...
- (27.07.2009) Ryanair Unnerves Shareholders With Profit Warning...
- (21.07.2009) Debt In The UK Rises To £799bn...
- (15.07.2009) The Recession Continues & Unemployment Soars...
- (13.07.2009) Canterbury Sportwear Goes Into Administration...
Archived News Articles:
- (2010) February News Articles
- (2010) January News Articles
- (2009) December News Articles
- (2009) November News Articles
- (2009) October News Articles
- (2009) September News Articles
- (2009) August News Articles
- (2009) July News Articles
- (2009) June News Articles
- (2009) May News Articles
- (2009) April News Articles
- (2009) March News Articles
- (2009) February News Articles
- (2009) January News Articles
Mitsubishi UFJ posted its quarterly profit
Tokyo: Mitsubishi UFJ Financial Group Inc., Japan's leading bank by market value showed signs of easing as they posted their first quarterly profit in nine months after the financial crisis that led to almost $1.5 trillion of write-offs and losses worldwide.
The Tokyo-based Mitsubishi UFJ announced a net income of 75.9 billion yen ($797 million) at the end of the first quarter that ended June 30. Net income for the same quarter, last year, was 51.2 billion. Earnings at Mitsubishi UFJ during October 2008 boosted due to rising lending income and a gain in stockholdings.
Ismael Pili, a Tokyo-based analyst at Macquarie Group Ltd., said, “Mitsubishi UFJ has the best asset quality of the big banks”. He further added, “If the banks decide to crank up equity gains or come in with lower provisions, we see scope for higher profits.”
Mitsubishi UFJ shares mounted 4.4% today, in the Tokyo market before earnings were announced. Japan's five largest banks posted better results from the previous quarter due to increasing stock markets and smaller bad debt charges.
| 31.07.2009 | Print | written by Finance Talks Limited
Kodak accounts third straight loss as sales tumble
New York: Eastman Kodak Co, on Thursday, reported their third los, in a row, as profits dropped, and estimated that the full-year loss will be at the ‘low end’ of its projection. Kodak Co. restated its full-year sales projection to fall 12% to 18%, with digital sales declining 6% to 12%
New York-based Kodak announced their second-quarter profit, which dropped down to $191 million or 71 cents a share, as compared with a profit of $200 million or 66 cents, in the same quarter last year. The loss from continuing operations was 43 cents a share, after excluding 28 cents a share in items such as reforming charges and tax.
Since last year investors have started losing confidence in the 129 year-old Kodak and wiped out $4.53 billion of the company's market value in 2008 and erased another 50% of the share value, this year.
“We remain committed to our strategy. Kodak has the financial resources available to implement our business plans,” Chief Executive Officer Antonio Perez said in the statement.
| 30.07.2009 | Print | written by Finance Talks Limited
US and China exhibit integrated economic stand
Washington: The US and China mutually agreed on a common economic front on Tuesday, but stayed back over the probability of climate change at the end of two days of top-level discussions that highlighted Beijing's growing buoyancy and boldness.
The meeting failed to generate any new agreements, but both the sides confirmed that President Barack Obama would visit China later this year. US secretary of state, Hillary Clinton acknowledged the conference by saying that, “Laying the groundwork [for closer ties] may not deliver a lot of concrete achievements immediately, but the level of co-operation has been unparalled”.
China agreed to re-balance the world’s ‘domestic demand-led growth’, while the US restated their promise to lower their growing deficit by 2013. China has clearly indicated its objective to ease up on financial sector, while US mainly stressed its plans for tougher financial sector.
A memorandum of understanding on climate change was also signed by the two sides, thus intensifying the bilateral discussions and tinted the importance of successful negotiations held at United Nations meeting in Copenhagen.
| 29.07.2009 | Print | written by Finance Talks Limited
FTSE 100 index slides, breaking its 11-day streak
London: There was a considerable decline in the U.K. stocks, which led FTSE 100 index to drop by 57.29 or 1.3%, to 4,528.84 after an initial increase of 0.7%. The benchmark FTSE index fell drastically, to reach the longest winning streak on record.
The profit for BP Plc contracted 53% than the last quarter. Share prices for Wolseley Plc, the world’s biggest provider of heating and plumbing gear, and Mondi Plc, Europe’s leading manufacturer of paper bags, also dropped.
“Stocks now are only cheap, not dirt cheap as they were earlier this year,” said Espen Furnes, a finance manager at Storebrand Asset Management in Oslo, which supervises the comparable amount of about $51 billion.
The FTSE 100 Index saw further decline after the Conference Board in the US announced a survey report, which stated lower sales than expected, in July. Andy Clarke, the chairman of the survey panel and chief operating officer of Asda said, "Many retailers are having a difficult summer and no pick up is expected for August".
| 28.07.2009 | Print | written by Finance Talks Limited
Ryanair Unnerves Shareholders With Profit Warning
Dublin/London: Ryanair, Europe’s biggest low-cost airline, trimmed its estimated full-year profit on Monday. The airline was forced to lower its fares in order to fill its aircraft. This has shed Ryanair’s profit by 12%, hitting the airlines sector at large.
Ryanair, known for its cost-cutting passion, heavily charges its customers with hard penalties for excess baggage, credit card bookings and is also considering a ‘fat tax’ to be imposed on obese passengers and coin-operated toilets.
Chief Financial Officer Howard Miller, in a news conference, said, "There are no signs of recovery in any country across Europe. There are no signs of green shoots so a tough winter for everyone"
Investors are thoroughly focusing on its warning that full-year net profit would come down to 200 million to 300 million euros, due to falling yields. The share prices across the airline sector were hit by this profit warning; whereas the share price in Ryanair, Europe's budget airline, dropped by 9.1% to 3.06 euros at 13:02 GMT.
| 27.07.2009 | Print | written by Finance Talks Limited
Debt In The UK Rises To £799bn
Since the year 1974, when records first began, the national debt for the United Kingdom has reached to a record high of £799bn. Last month the figure for borrowing doubled the previous year which means the overall debt that Alistair Darling forecasted in the May budget (£175bn for the year of 2009) is growing ever more accurate as bank bailouts and benefits haven’t helped towards the rising debt for the country.
This now mean the government need to start taking action and draw up plans to tighten up policies throughout the current recession, this may be a harsh plan of action but international credibility needs to remain strong and the focus needs to be drawn towards limiting and cutting back on general public spending across the board.
| 21.07.2009 | Print | written by Finance Talks Limited
The Recession Continues & Unemployment Soars
The United Kingdom unemployment figures have increased once again, reports have now indicated that there are over 2.4 million people that are without a job, of which 281,000 people faced unemployment between the months of May to July. As for the younger generation and those that have recently graduated from college or university the job future looks bleak with many companies making redundancies nationally to reduce costs, making finding a job a lot tougher. The months of September and October are looking ever more likely to increase the unemployment figures when school leavers look for work and join the unemployment ranks.
Even those that are in work at the moment are worried about their future, and according to current research at least 4 out of 10 people that are in a job are fearful about the stability of their company and the role they hold within it.
| 15.07.2009 | Print | written by Finance Talks Limited
Canterbury Sportswear Goes Into Administration
It has been revealed today that the European sportswear firm, Canterbury, has had to cut 72 jobs in the UK. Canterbury are renowned for their rugby sportswear supplies that includes rugby shirts for some of the well-known teams in the UK.
Based in Stockport Canterbury Sportswear recently became suppliers for the English premiership football team Portsmouth F.C., however many people have classed this as an unsuccessful move and may have been one of many decisions that have lead Canterbury down this path to administration. However the weaker value of the English pound would have increased the costs of imports from East Asia and been a major factor for the decline in figures.
All contracts with the Rugby clubs have now been cancelled with immediate effect whilst the European business side of Canterbury will continue to trade under administration, until a suitable buyer can be found.
| 13.07.2009 | Print | written by Finance Talks Limited
Navigation
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Featured Brands
SunLife Direct | APS CashPlus | Bread Card | Wonga Payday Loans | V5loans
> Visit The Brands Directory <