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The game may soon be up for banks that have made themselves look healthier by understating how risky their businesses are, which should help pension funds, savers and companies to decide which institutions to invest in.
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The game may soon be up for banks that have made themselves look healthier by understating how risky their businesses are, which should help pension funds, savers and companies to decide which institutions to invest in.
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LONDON, Feb 3- Barclays Plc's Finance Director Chris Lucas will step down, likely as soon as Monday, Sky News reported on Sunday, citing sources close to the company. Lucas is the only member of Barclays' top management still in his post after the bank was implicated in a rate fixing scandal last year.
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BAGHDAD, Feb 3- A $1.35 billion sale of shares in Iraqi mobile telephone firm Asiacell, the country's first major public offer of equity since the U.S.-led invasion in 2003, was fully subscribed, the stock exchange said on Sunday.
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Prognostications that there's a bond bubble ready to burst look overstated, said one panelist at the TD Ameritrade conference in San Diego on Friday.
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Even though stock indices are climbing, some analysts say expectations for a "Great Rotation" out of bond funds into equities look premature because economic growth remains sluggish and interest rates remain low.
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NEW YORK-- Shares of Thermo Fisher Scientific Inc. rose Friday after the maker of scientific instruments posted better-than-expected fourth-quarter earnings and was upgraded by JPMorgan Chase& Co.. THE SPARK: JPMorgan upgraded the shares of the maker of scientific instruments to "Overweight" from "Neutral."
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Feb 1- Newell Rubbermaid Inc reported a better-than-expected fourth-quarter profit on Friday, but gave a forecast that 2013 could fall short of Wall Street expectations as the consumer products maker spends more on advertising to increase business in North American and emerging markets.
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HOUSTON/ SAN FRANCISCO, Feb 1- Renewed strength in refining and chemicals led to higher-than-expected fourth-quarter earnings for Exxon Mobil Corp and Chevron Corp, the two largest U.S. oil companies.
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Feb 1- St. Jude Medical Inc, frustrated by regulatory and product issues last year, vowed that it would meet or exceed its 2013 earnings forecast, even though it does not expect much of a recovery in the medical technology market. Chief Executive Dan Starks acknowledged that St.
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SALEM, N.H.-- Standex International Corp. posted a profit for its fiscal fourth quarter, despite mixed sales results around the globe. However, increasing demand for its automotive program mold texturizing work in Europe and China offset weakness in North America during the quarter.
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JERICHO, N.Y.-- Hot dog and burger chain Nathan's Famous said Friday that its fiscal third-quarter net income fell 8 percent, hampered by restaurant closings due to Superstorm Sandy. Nathan's Famous Inc. said that all of its company-owned restaurants were forced to close when Sandy struck in October.
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*Source says China eyes tougher $4 bln loan terms. CARACAS, Feb 1- Venezuela's government and state oil company PDVSA are in urgent talks over a long-expected $6 billion in loans from China and U.S. energy giant Chevron that would help relieve the nation's strained finances, sources close to the discussions said.
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NEW YORK-- Shares of Green Dot Corp. rose Friday after prepaid debit card issuer posted a better-than-expected fourth-quarter profit. Green Dot also projected an adjusted 2013 profit of between 95 cents and $1.20 per share on operating revenue of between $510 million to $540 million.
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Congress has done the easy part of deficit and debt reduction, but the more difficult decisions on controlling health care costs, reforming the tax code and fixing entitlements still lie ahead, Alan Simpson and Erskine Bowles told the TD Ameritrade conference on Friday.
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Net income for Franklin's fiscal first quarter through Dec. 31 totaled $516.1 million, or $2.42 per share, compared with $480.8 million, or $2.20 per share, a year earlier, the San Mateo, California- based firm said. Investors lauded the results, sending shares of Franklin up $2.09, or 1.5 percent, to $138.97 on the New York Stock Exchange.
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NEW YORK-- Insurance brokerage Aon PLC said Friday that its net income rose 10 percent in the fourth quarter as its revenue grew and savings from its restructuring increased. The company said the restructuring of its Aon Hewitt human resources consulting business saved it about $67 million during the fourth quarter, up from $43 million a year ago.
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Sean Parnell's plan to overhaul Alaska's oil tax structure says 2012 profits by ConocoPhillips shows the system is working. Bill Wielechowski, D- Anchorage, said Thursday that it's "gratifying to see Alaska's major oil producers reaping substantial profits under our existing oil tax structure at the same time as Alaskans enjoy their fair share of oil revenue.
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HOUSTON-- National Oilwell Varco Inc. said on Friday that its fourth-quarter profit rose 16.4 percent as profits grew for its oil rig parts and services. The company earned $668 million, or $1.56 per share, for the quarter that ended Dec. 31.
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NEW YORK-- LyondellBasell Industries NV, which refines oil and makes chemicals and plastics used in manufacturing and construction, returned to a profit in its fourth quarter free of charges to refinance and shut down a French refinery.
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HOUSTON/ SAN FRANCISCO, Feb 1- Strength in refining and chemicals led to higher-than-expected fourth-quarter earnings for Exxon Mobil Corp and Chevron Corp, the two largest U.S. oil companies.