AP - IKB Deutsche Industriebank AG, a German lender badly hit by the U.S. subprime lending crisis, said Tuesday that it lost about $1.6 billion in the first nine months of 2007 on the back of write-downs that led to a bailout last year. -- read full article
AP - Big corporate profits fueled by strong international sales could disappear fast if Europe's economy begins to falter, stripping many multinational companies of a huge source of earnings growth. -- read full article
Reuters - Sanford C. Bernstein slashed its earnings
outlook for Lehman Brothers Holdings Inc , Goldman Sachs
Group Inc and Morgan Stanley to reflect weaker
fixed income sales and trading results, and a tough investment
banking environment. -- read full article
AP - Vodafone Group PLC, the world's biggest mobile phone company by sales, announced the surprise resignation of chief executive Arun Sarin on Tuesday as it posted a return to full-year profitability. -- read full article
AP - Gap Inc.'s sales are slumping and shoppers appear unlikely to spend more anytime soon, but the clothing retailer still boosted its first-quarter profit by 40 percent by managing inventory and cutting costs.
Reuters - General Motors Corp said on
Friday the just-ended strike at supplier American Axle &
Manufacturing Holdings Inc and separate strikes by the
United Auto Workers at its own plants had reduced its earnings
by a total of $2.8 billion.
Reuters - Apparel and jewelry retailers
surprised Wall Street with better-than-expected earnings on
Thursday as cost-cutting measures and inventory controls offset
the impact of the weak economy.
AP - Barnes & Noble Inc. appears to be getting more serious about buying chief rival Borders Group Inc., confirming Thursday that it put together a management team to study the "feasibility" of a combination.
AP - Gap Inc.'s sales are slumping and shoppers appear unlikely to spend more anytime soon, but the clothing retailer still boosted its first-quarter profit by 40 percent by managing inventory and cutting costs.
AP - Lenovo Group, the world's fourth largest PC maker, said Thursday that earnings for its latest quarter rose 133 percent as strong sales in China and Europe offset slower growth in the United States. -- read full article
AP - Air France-KLM said Thursday it expects the coming year to be "challenging" amid sharply higher oil prices and a sluggish global economy which contributed to a net loss in its fiscal fourth quarter. -- read full article
Reuters - Barnes & Noble Inc reported a
wider quarterly loss on Thursday, hurt by a charge, and the
bookseller cut its forecast for full-year sales at existing
stores, citing the difficult retail environment.
