Tom Frew

“An extension of the deadline avoids the need for a forced sale or flotation while markets are weak”. Ratings agency Fitch have today argued that Lloyds and RBS are likely to join the ranks of the banks that have had to request from the European Commission an extension of the deadline originally set for the […]

There had been growing concern of a triple-dip recession The UK economy has avoided entering a triple-dip recession following the announcement of a 0.3% GDP increase in the first quarter of 2013. Compiled by the Office for National Statistics the data shows that whilst construction output continues to struggle production, mining, quarrying and the service […]

Company still facing uncertainy due to Dreamliner crisis The Boeing Company (NYSE: BA) reported first-quarter core earnings per share (non-GAAP) increased 24 percent* to $1.73, driven by strong performance across the company’s businesses (Table 1). First-quarter 2013 results included the expected benefit of $0.19 per share for the 2012 research and development tax credit; first-quarter...

Down from €1,425 million in 2012 to €564 million in 2013 Daimler AG (stock-exchange symbol DAI) achieved earnings below the prior-year level in the first three months of 2013. The Daimler Group posted first-quarter EBIT of €917 million (Q1 2012: €2,098 million). Net profit amounted to €564 million (Q1 2012: €1,425 million). Earnings per share […]

Barclays have announced a 35% fall in first quarter profits. Citing the cost of transforming the bank to become a “Go-To” bank profits fell by £609m to £1.8bn. An increase in European losses was a further contributing factor to the first quarter losses. In a statement the bank’s chief executive, Antony Jenkins, said  “We set […]

Monthly report by ratings agency Fitch sees LG Electronics downgraded to BBB- Fitch Ratings has published the latest edition of its Asia-Pacific monthly newsletter. The ‘Asia-Pacific Monthly’ is one of the most viewed reports on the Fitch website. In March, Fitch became the first international rating agency to upgrade the Philippines to Investment Grade (Fitch […]

Leading theme park brand enters the Wall Street jungle SeaWorld Entertainment Inc., a leading theme park and entertainment company, opened for trading last week on the New York Stock Exchange (NYSE) under the ticker symbol “SEAS” after its initial public offering.  Goldman, Sachs & Co., LLC is the Designated Market Maker for the company’s stock. […]

Research points towards slow recovery from recession The latest Bank of Scotland Report on Jobs indicated growth of both permanent and temporary staff placements in March. The strongest rise was for permanent appointments, which more than reversed a reduction in February. Higher placements generally reflected greater demand for staff, but the rates of vacancy growth […]

339m-euro loss compared to 1.57bn in 2012 Nokia shares have fallen by 13% after the smartphone manufacturer announced it had made a loss of 339m-euros in the first quarter of 2012. The company saw a 13% decrease in sales of its Lumia brand, contributing to a 20% fall in revenue to 5.85bn-euros from 7.35bn. Commenting […]

Bank of America argues that their customer strategy is working Bank of America Corporation has announced net income of $2.6 billion, or $0.20 per diluted share, for the first quarter of 2013, compared to $653 million, or $0.03 per diluted share, in the first quarter of 2012. Revenue, net of interest expense, on a fully […]