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18th of July 2011
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News Tag: second quarter

July 18, 2011

Citigroup Q2 profits surge 24%

by Kay Mitchell
”Citigroup
US banking giant Citigroup reported a 24% rise in second quarter profits as losses were reduced from bad loans. The bank, which is in the third largest in the US, reported net income of $3.34 billion (£2.07 billion) in the three month period to the end of June. The results beat market forecasts and represented the sixth consecutive quarterly profit. However, turnover was 7% lower ...




July 13, 2011

China’s economic growth cools

by Kay Mitchell
...




June 29, 2011

UK service sector output contracts in April

by Kay Mitchell
”UK
Figures from the Office for National Statistics (ONS) have today revealed output in the UK’s closely-watched service sector dived in April. According to the ONS, service sector output contracted by 1.2% in April on a monthly basis – the biggest fall since January 2010 – when the country was hit by a severe snowfall. However, April’s fall was attributed to the ...




October 6, 2010

Sainsbury’s H1 profit up

by Kay Mitchell
...




September 30, 2010

US Q2 economic growth figures revised upwards

by Kay Mitchell
”US
The Commerce Department has today revealed the US economy grew by an annualised 1.7% in the April to June period – slightly higher than the previous estimate of 1.6%. This figure is the third and final estimate for the second quarter and the upward revision was due to a higher rate of consumer spending, which was revised upwards to 2.2% - ...




September 8, 2010

Greek economic growth figures revised downwards

by Kay Mitchell
Greek economic growth figures revised downwards
Official figures have today revealed the Greek economy contracted more than originally anticipated in the April to June period. The economy, which is still in a deep recession, contracted by 1.8% in the second quarter - rather than the first estimate of 1.5%. The contraction was worse than expected and follows the 0.8% fall in the January to March period, Greece's national ...




September 1, 2010

Australia’s economy shows promise

by Gill Montia
Australia's economy shows promise
Latest figures from the Australian Bureau of Statistics show the country's GDP growing by 1.2% in the second quarter of 2010, compared with 0.7% in the previous three month period. The spurt, which was driven by a 1.6% increase in household expenditure and an increase in exports of 5.6%, puts economic growth at 3.3% for the year to the end of June. The industries providing ...




August 17, 2010

German analyst and investor confidence falls for fourth straight month

by Kay Mitchell
German analyst and investor confidence falls for fourth straight month
The Zew economic sentiment index has revealed German analyst and investor confidence plunged in August, new data has revealed today. The index, which measures expectations of economic activity over the next six months, fell from 21.2 in July to 14 in August - the lowest level since April last year and the fourth straight month in which the ...




August 16, 2010

Japanese recovery loses momentum as Q2 growth slows

by Kay Mitchell
Japanese recovery loses momentum as Q2 growth slows
Official figures have today revealed Japanese economic growth slowed in the April to June period, as widely expected. The economy expanded by just 0.1% in the three month period - far less than expected by analysts. Meanwhile, on an annual basis, the economy grew by 0.4% in the quarter, down from a revised 4.4% in the previous three months and again ...




August 15, 2010

Japanese growth expected to moderate in Q2

by Kay Mitchell
Japanese growth expected to moderate in Q2
Official figures out tomorrow are expected to reveal growth in the world’s number two economy slowed in the April to June period. Japan fell into a severe recession following the global financial crisis but was one of the first major economies to emerge from recession – in the second quarter of 2009 - boosted by exports. However, demand for exports is expected ...




Euro zone Q2 economic growth beats expectations

by Kay Mitchell
Euro zone Q2 economic growth beats expectations
The EU statistics agency Eurostat has revealed the euro zone economy grew by 1% in the April to June period - boosted by its largest economy - Germany. Economic growth in the 16 nations that use the euro beat expectations, and followed growth of 0.2% in the first quarter and exceeded forecasts of 0.7%. Meanwhile, the economy grew by 1.7% on an ...




August 13, 2010

Germany’s economic growth boosted by exports

by Kay Mitchell
”Germany’s
Figures have today revealed Europe’s largest economy grew by a record 2.2% in the second quarter - the fastest quarterly growth in 20 years. The figures smashed analysts forecasts who had expected growth of around 1%. Meanwhile, on an annul basis, economic growth soared by 4.1%. Furthermore, first quarter growth has been revised upwards from 0.2% to 0.5%, the statistics office, Destatis ...




August 12, 2010

Greece’s woes continue as economy contracts further

by Kay Mitchell
Greece’s woes continue as economy contracts further
Greece's statistics agency, Elstat, has today revealed the economy contracted by a further 1.5% in the April to June quarter - suggesting the country’s recession is far worse than originally anticipated. The fall follows the 0.8% decline in growth in the first quarter and the news adds to Greece’s troubles as the country battles to deal with its public deficit. The Greek ...




July 27, 2010

UBS Q2 profits exceed expectations

by Kay Mitchell
”UBS
Swiss banking giant UBS has today reported a net profit of SwFr2.0 billion (£1.2 billion, $1.9 billion) for the April to June period - exceeding analysts' expectations. The news will be welcomed by many investors after the bank was among one of the worst hit victims of the credit crunch due to its exposure to the sub-prime mortgage crisis in the US ...




Beleaguered oil giant BP reports Q2 loss

by Kay Mitchell
”Beleaguered
Oil giant BP has today reported a massive loss of $16.9 billion in the three months to June as a result of the major oil spill in the Gulf of Mexico. The company added that costs related to the spill will reach $32.2 billion (£20.8 billion). Excluding oil spill and other non-operating costs, BP's replacement cost profit was $4.98 billion. The news comes ...




July 22, 2010

Credit Suisse profits rise despite euro zone difficulties

by Kay Mitchell
”Credit
Credit Suisse, which is Switzerland’s second-largest bank, has today exceeded expectations by reporting second quarter profits of SwFr1.6 billion (£1 billion). Compared to the same three-month period a year ago, earnings were 1% higher but were down 22% when compared with the first quarter of the year. The rise in profits came despite a 32% drop in revenue to SwFr4.1 billion ...




July 21, 2010

Morgan Stanley shares up on results

by Kay Mitchell
Morgan Stanley shares up on results
US banking giant Morgan Stanley has today reported its second quarter results with net profit totalling $1.4 billion (£917 million), compared with a loss of $138 million in the same period a year ago. The Wall Street firm also said it saw a 53% increase in revenues of $7.95 billion compared with the same period last year. Chief executive James Gorman said: "While ...




Yahoo revenue grows but falls short of expectations

by Kay Mitchell
Yahoo revenue grows but falls short of expectations
Online search giant Yahoo has published its second quarter results which disappointed the market, sending its shares diving more than 7%. Profits at the company grew by more than 50% in the quarter, but net revenues missed expectations. Revenue in the three months ending June 30 totalled $1.6 billion (£1.05 billion), compared with $1.57 billion in the same quarter a ...




July 20, 2010

Goldman Sachs reports sharp fall in profits

by Kay Mitchell
Goldman Sachs reports sharp fall in profits
US banking giant Goldman Sachs has today announced profits dived 82% in the second quarter to $453 million. The figures represented the worst quarter since the height of the financial crisis - almost two years ago and were hit by the British bonus levy and a US fraud settlement. Commenting, Lloyd Blankfein chief executive, said: "The market environment became more difficult during ...




July 18, 2010

BoA and Citigroup shares fall on results

by Kay Mitchell
BoA and Citigroup shares fall on results
Shares in US banking giants, Bank of America (BoA) and Citigroup, fell on Friday after both banks reported their second quarter profits. Firstly, Bank of America said net income fell to $3.1 billion in the second quarter from $3.2 billion in the same period a year earlier, while revenue was down 11% to $29.15 billion from a year earlier. The bank, which ...




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