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Corporate Finance Balance Sheets

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  • RIO DE JANEIRO, Aug 6- Brazilian state-led oil company Petroleo Brasileiro SA said its second-quarter net income plunged 89 percent after a one-time charge for underperforming assets that caught analysts off guard. The 1.28- billion-real charge was taken as Petrobras' new executives and board of directors try to control the company's $132 billion debt, the...

  • RIO DE JANEIRO, Aug 6- Brazil's state-led oil company Petroleo Brasileiro SA said its second-quarter net income fell a steeper-than-expected 89 percent after a one-time charge for underperforming assets. Petrobras also took an unexpected 1.6 billion real charge to resolve a tax issue with Brazil's federal government. "We want to leave the company in a...

  • SAO PAULO, Aug 6- Grupo BTG Pactual SA is trimming assets and increasing regulatory capital ratios in an effort to weather a protracted economic downturn and political crisis in Brazil that could last for another 18 months, Chief Executive Officer AndrĂ© Esteves said on Thursday. Yet, shares sank as much as 4.5 percent, with analysts including JPMorgan...

  • NEW DELHI, July 31- Planning to inject $11 billion of capital into debt-laden state banks over the next four years, India's Finance Minister Arun Jaitley on Friday sought parliament's approval to boost budget spending by $4 billion in the current fiscal year. High levels of non-performing assets in state-run banks have made it hard for the government of Prime...

  • European shares edge higher, positive earnings help Friday, 31 Jul 2015 | 4:10 AM ET

    *UCB, BNP Paribas, Natixis up after results. *Engie falls on HSBC downgrade to "hold". Natixis rose 3.3 percent after reporting a 5 percent rise in net income for the second quarter, driven by a strong increase in asset management, insurance sales and private banking, as well as continued efforts to reduce its balance sheet and risky assets.

  • July 23- Hercules Offshore Inc, stung by slumping demand for drilling services in older Gulf of Mexico oilfields, said on Thursday it plans to file for creditor protection in about three weeks and emerge several months later with a restructured balance sheet. The company's balance sheet lists $266 million in current assets and $1.35 billion in current...

  • July 16- Citigroup Inc, the third biggest U.S. bank by assets, reported its highest quarterly profit since the financial crisis as Chief Executive Michael Corbat's restructuring and cost-cutting efforts paid off and the bank's legal expenses plunged. Under Corbat, who replaced Vikram Pandit as CEO in 2012, Citi has been selling retail operations in several...

  • LONDON, July 8- British finance minister George Osborne said on Wednesday he would reduce a bank levy charged on the assets of financial institutions and replace with it with a surcharge on bank profits. Europe's biggest bank, HSBC, has said the levy will be a factor in whether it decides to keep its headquarters in Britain. Britain's stock market index of banking...

  • ZURICH/ BRUSSELS, July 1- Credit Suisse's new chief executive told staff in a memo on Wednesday the Swiss bank needed a strong balance sheet to help it through rough times and the discipline to decide where it wanted to invest. Tidjane Thiam, 52, started work as CEO of Credit Suisse on Wednesday and investors are optimistic he can bring about a major change of...

  • June 25- Oil and natural gas producer Magnum Hunter Resources Corp said it expected to raise $600- $700 million by selling its 45.53 percent stake in its natural gas gathering subsidiary, Eureka Hunter Holdings. Magnum Hunter had $13.7 million in cash and cash equivalents and total debt of $951 million as of March 31, according to Thomson Reuters data.

  • Magnum Hunter looking to divest stake in pipeline unit Thursday, 25 Jun 2015 | 6:40 AM ET

    June 25- Oil and natural gas producer Magnum Hunter Resources Corp said it expected to raise $600- $700 million by selling its 45.53 percent stake in its natural gas gathering subsidiary, Eureka Hunter Holdings. The potential deal would allow Magnum Hunter to restructure its balance sheet and improve its current liquidity position, the company said.

  • FRANKFURT, June 22- Greek banks have been heavily dependant on "Emergency Liquidity Assistance" since being cut off from standard European Central Bank funding options in early February. Any changes to the limits of ELA require a two-thirds majority in the ECB's 25- member Governing Council. The Governing Council approves maximum ELA amounts for each...

  • LONDON, June 10- HSBC's investment bank could shed more than a fifth of its clients and plans to reduce its credit and interest rates businesses by $100 billion over the next two years in its bid to improve profitability. Under a strategic shift announced on Tuesday, HSBC said it will reduce the assets at its investment bank by a third, or $140 billion, which will...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. HSBC will cut its assets by a quarter, or $290 billion on a risk adjusted basis, by...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. It will cut its assets by a quarter, or $290 billion on a risk adjusted basis by 2017,...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC will shed almost 50,000 jobs and take an axe to its investment bank, cutting the assets of Europe's biggest lender by a quarter in a bid to simplify and improve its sluggish performance. The cuts will leave HSBC with about 208,000 full-time equivalent staff by 2017, down from...

  • *HSBC to cut risk weighted assets by $290 bln. HONG KONG, June 9- HSBC will cut almost 50,000 jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by $290 billion in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday. However the cuts, to be completed by 2017, will be followed by some hiring in...

  • *HSBC to cut risk weighted assets by $290 bln. *HSBC targets growth in Asia insurance, Guangdong province. HONG KONG, June 9- HSBC will take an axe to its investment bank and seek to cut up to $5 billion in costs in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday.

  • SHANGHAI, June 9- China's consumer inflation eased while producer prices stayed stubbornly in deflation in May, bolstering the case for fiscal stimulus as the world's second-largest economy shrugs off monetary easing. "We are basically in the midst of a balance sheet recession with Chinese characteristics," said Andrew Polk, economist at the Conference Board...

  • Iceland to ease capital controls imposed since crash Monday, 8 Jun 2015 | 11:59 AM ET
    Reykjavik downtown, Iceland

    Iceland is to introduce a 39 percent exit tax on assets from its failed banks, as part of moves to lift capital controls.