Morningstar’s credit rating of BBB+ for Royal Bank of Scotland reflects the bank’s large balance of nonperforming loans but is bolstered by the recent improvements in the bank’s operating performance. Through acquisitions, Royal Bank of Scotland has become a global bank, with operations in 50 countries. RBS is primarily a business bank and is dominated…
In the first quarter of the year, Spain’s largest bank, Grupo Santander SAN , earned EUR 1,205 million, up significantly from the EUR 401 million it earned in the trailing quarter. Most of this increase was due to the non-recurrence of special loan loss provisions in the fourth quarter; excluding this, earnings were up 18%…
In the first quarter, BASF BAS continued to rely on its diversified product mix in what has been a challenging market environment for chemical producers. BASF’s agriculture and oil and gas businesses propped up sales in the first quarter, as revenues increased 4.8% year over year. On a geographic basis, management noted that growth in…
Credit Suisse CS earned CHF 1,026 million (CHF 0.76 per diluted share) in the first quarter compared with CHF 41 million in the year-ago quarter and CHF 221 million in the trailing quarter on better trading results and lower expenses. This quarter’s reported profit, which included CHF 80 million of noncash own-debt losses, amounted to…
Kirby’s KEX first-quarter revenue fell 1% from last year. The decline was driven by anemic demand for United’s pressure pumping units, tempered by solid inland trends and improvement in coastal operations. The marine transportation business (75% of first-quarter sales) saw revenue increase 25%, thanks to persistent petrochemical and crude oil shipment demand, which is supporting…
TripAdvisor (NASDAQ:TRIP) announces the acquisition of LaFourchette.com. For the online giant, the French “Fork” will complement its online recommandation and rating services for restaurants and hotels in the world. With operations in France, Spain and Switzerland, LaFourchette booking application will become part of Tripadvisor strategy to provide value services for restaurants. LaFourhcette has tied 12,000…
