Sotheby’s swung to a quarterly loss amid a shortfall in auction-commission revenue and higher operating costs.
Sotheby’s Posts Loss Amid Revenue Drop
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Daily Archives: May 10, 2008
Takeda Posts Slightly Higher Net
Takeda Pharmaceutical posted a 5.9% rise in full-year net profit, but said it expects earnings to slump in the current year following its recent $8.8 billion purchase of a U.S. biotechnology company.
Dresdner Drags Allianz Results Lower
Allianz reported a 65% drop in net income, hurt by write-downs of $1.3 billion at Dresdner Bank, as Europe’s largest insurer cast doubt on its medium-term outlook.
Credit Crunch Slams AIG
AIG reported a record $7.8 billion loss and said it will raise $12.5 billion in capital to replenish its balance sheet. The insurer’s results, which included a $9.1 billion write-down, show that while the credit crunch may be easing on Wall Street, it appears to be tightening elsewhere.
NAB’s First-Half Net Rises 26%
National Australia Bank said its first-half net profit rose 26%, but joined the nation’s other major banks in recording significantly higher charges for problem corporate loans and lower margins due to the global credit crunch.
Ice Diving in the White Sea
Ice diving is one of the last great scuba adventures. WSJ’s Mark Schoofs ice dives in the White Sea in Northern Russia and gives a peek into an underwater world full of sea creatures. (May 10)
Ditching the ‘Big Red Sled’
WSJ’s Bryan Gruley discusses his decision to part with his deceased mother’s beat-up 1994 Pontiac Bonneville, which he has held on to as a reminder of her. (May 10)
Tough Summer for Theme Parks?
Against the backdrop of a weaker economy and higher gas prices, U.S. theme parks may face a long, hot and challenging summer. MarketWatch’s Russ Britt reports. (May 9)
Why Kids Come to See Buffett
Kids from around the U.S. explain why they came to Bershire Hathaway’s shareholder meeting in Omaha, Neb., to hear Warren Buffett speak. (May 10)
Author Q&A: ‘Slavery by Another Name’
WSJ’s Doug Blackmon discusses his new book, “Slavery by Another Name,” an account of the period between the U.S. Civil War and World War II, with book editor Jeff Trachtenberg. (May 10)
More Partisanship, More Gridlock
WSJ’s Jeff Trachtenberg speaks to Gerald Seib, co-author of “Pennsylvania Avenue: Profiles In Backroom Power,” about the new social and political scene in Washington, D.C. (May 9)
Ice Diving in the White Sea
Ice diving is one of the last great scuba adventures. WSJ’s Mark Schoofs ice dives in the White Sea in Northern Russia and gives a peek into an underwater world full of sea creatures. (May 10)