Apr 26: Piaggio brings Vespa back to India
Apr 26: Piaggio brings Vespa back to India
A man walks out of a branch of Barclays Bank in central London
Barclays beat forecasts with a 22% rise in first-quarter profit, as a strong rebound in revenue from its investment banking arm and a drop in bad debt countered increased compensation for insurance mis-selling.
The British bank reported an adjusted pretax profit of 2.45 billion pounds in the three months to end-March, up from 2 billion a year ago and above the average forecast of 2 billion from a poll of analysts supplied by the company.
"Barclays first quarter results are an encouraging start to the year and demonstrate continued progress across our execution priorities," CEO Bob Diamond said in a statement on Thursday.
Shares in the bank were up 1.6% to 214.65 pence at 09:03 GMT.
Top-line income at Barclays Capital, the investment bank business that provides the bulk of the bank's profit, rose to 3.46 billion pounds, up 3% from a year ago. That marked a 91% jump from the weak fo
Gasoline drips off a nozzle during refueling at a gas station in Altadena, California
Brent crude was steady around $119 a barrel on Thursday, as optimism over a recovery in the US economy offset easing concerns of a disruption in Iranian oil exports and high US crude stocks.
The US Federal Reserve said on Wednesday it would support growth in the world's top oil consumer if necessary as it left the door open for another round of monetary easing, raising hopes of higher energy demand.
"The Fed's comments are supporting crude oil prices, despite a higher-than-expected US inventory figure," said Miguel Audencial, a trader with CMC Markets in Sydney.
Brent crude slipped 11 cents to $119.01 a barrel by 04:25 GMT after settling up 55 cents at $119.12 on Wednesday.
US crude edged down 4 cents to $104.08. The benchmark settled at $104.12, up 57 cents.
Asian shares followed Wall Street higher on the Fed's reassurance, giving a further bo
A general view of a Wal-Mart store in Mexico City
Wal-Mart Stores Inc may not find the math easy when it tries to assess the potential criminal liabilities from an alleged bribery scandal and possible cover-up at its Mexican unit.
Whether a potential settlement with US authorities involves several hundreds of millions of dollars of penalties, or even billions, will likely depend on how many allegedly improper payments are eventually discovered and the extent of the alleged financial gain.
The formula used by prosecutors in crafting proposed penalties can also include subjective factors, such as how much the retailer cooperates with authorities and whether executives engaged in a wide-ranging scheme to hide the behavior from authorities.
Wal-Mart is under investigation over allegations its Mexican unit paid $24 million in bribes to accelerate its Latin American growth. The outcome of any potential government case will likely hinge on whether US investig
US Treasury Secretary Timothy Geithner speaks during an event to commemorate Holocaust victims and survivors in Washington
Treasury Secretary Timothy Geithner sought on Wednesday to reassure Americans that the Obama administration was doing what it could to rout out the bad actors from the worst financial crisis since the Great Depression.
"The wheels of justice are turning now," Geithner said at an event in Portland after touring a factory there. "They are not turning as fast as people would like, but we have the best system in the world for making sure we can enforce the laws of the land," he said.
Geithner suggested that holding people accountable for the wreckage caused by the recent housing collapse and the ensuing financial meltdown was not that simple since most crises were not caused by criminal activity.
"Most financial crises are caused by a mix of stupidity and greed and recklessness and risk-taking and hope," said Geithner, who helped tackl
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