Japan’s Shinsei Bank returned to profitability in the fiscal year, but only after recording a special gain following the sale of its headquarters building, a performance that underscores the bank’s increasingly tough environment.
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BNP Paribas posted a 21% decline in first-quarter net profit, but again posted far fewer losses related to the global credit crisis than some if its competitors.
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FSA became the latest bond insurer to report that its loss projections for home-equity loans rose in the first quarter. FSA increased its loss estimate by $355 million.
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Freddie Mac posted a $151 million loss as accounting changes offset higher costs tied to mortgage defaults.
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Deere’s net climbed 22%, but the farm-equipment maker warned of higher costs, and its shares dropped 9.9%.
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ING Groep posted a 19% drop in first-quarter net profit, hurt by lower returns from real estate, private equity and market investments.
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Former Barack Obama classmates remember the U.S. Presidential candidate as being good at making friends and having a hard time speaking Indonesia’s local language. He was 10 when he went to the school. Video courtesy of Reuters. (April 23)
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Hillary Clinton’s win keeps her alive for the Democratic nomination, but New York University’s Patrick Egan says North Carolina and Indiana loom large for delegates and the popular vote, and Barack Obama will push hard. (April 23)
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