by News Staff Posted Jul 16, 2012 8:36 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Citigroup made $2.9 billion in second quarter on lower loan losses, beating Street estimates NEW YORK, N.Y. – Citigroup made $2.9 billion in the April-to-June period, helped by lowering the amount it keeps aside for loan losses because more of its customers paid back loans on time.The bank says it earned 95 cents per share, exceeding the 89 cents expected by analysts surveyed by data provider FactSet.The income included a $984 million decrease in the bank’s loan loss reserves and an accounting gain of $219 million because the value of its debt decreased.Revenue was $18.6 billion, down 10 per cent from the year-ago quarter. Analysts expected $18.8 billion.Citi’s stock was up 50 cents, or almost 2 per cent, to $27.13 in before-market trading.Overall, Citigroup’s net income declined 12 per cent from the second quarter 2011 to $2.9 billion. Income was hurt by a $424 million loss the bank took from selling its 10 per cent stake in Turkey’s Akbank.As more of its customers, both consumer and commercial, paid back loans on time, Citi kept aside less for future losses â€” $27.6 billion at the end of the quarter, compared with $34.4 billion in the prior year period.The volatility in the second quarter from the European debt crisis hurt Citi’s earnings in the investment banking division. Investment banking revenue declined 21 per cent to $854 million.Over the weekend, Citigroup said it will not seek to increase its dividend this year but may seek permission to raise it in 2013.“I believe we will be in good shape and have the capital to be able to do that by the end of the year,” CEO Vikram Pandit told the U.K.’s Sunday Telegraph in a rare interview. “That’s a decision that will have to be taken with our regulators and we will have those conversations at the end of the year.”The bank did not ask the Federal Reserve for permission to raise the dividend last month, when it submitted its latest capital plan.Citi currently pays a token amount of 1 cent per share every quarter. Pandit had previously promised shareholders a higher dividend earlier in the year.The Fed in March said the bank did not have enough capital to raise its dividend and withstand another financial crisis. That was a blow to Pandit, whose 2011 compensation package of $15 million for last year and $10 million retention pay was rejected by shareholders in an advisory vote the following month.
Acting Detective Chief Superintendent John Ross of the Metropolitan Police’s East Area Command Unit described the girl’s death as a “tragedy”.He issued an appeal for witnesses to the attack or anything suspicious in the area on Friday night.The officer added that additional patrols would be put in place in the Harold Hill area.The killing comes less than a week after Che Morrison, 20, was stabbed to death outside Ilford train station in east London. Her family said they were too distressed to speak. Friends said Chesney was “the nicest girl possible” Explaining how she had heard voices yelling for help, she said: “I never thought in a million years that I was coming out to a murder and that I would be walking out to a young lady who had been stabbed. “Then a boy said, ‘I need help, my girlfriend has been stabbed’ and I just flew over there.“People are scared to help, but all I was thinking with my mother’s instinct was, ‘I need to help’. Her boyfriend did everything he could.”She placed the girl in the recovery position and administered chest compression in the hope of reviving her.“The knife’s blade was still in her, but I didn’t see it because it was dark,” she continued.“I didn’t realise at the time, but then all I kept thinking, once the police told me, was, ‘Have I put the knife in further by giving her compressions?’“It was horrific, it was just the blood. There was so much of it. The girl was moaning, but she was mostly silent. We checked her pulse and we could hear her breathing.”An ambulance crew arrived, but Ms Farenden believed the girl was already dead by then.She said she was told later by police that the blade was still inside her and was removed at the scene.The girl is the 18th person to be murdered in London this year, five of whom have been teenagers.She was also the fifth person to be fatally stabbed in the capital in just eight days. The grandmother of a 17-year-old girl stabbed to death in an “unprovoked attack” in London has made an anguished plea for the city’s street violence to end.Jodie Chesney was said to have been sitting with friends near a children’s playground in a park in Harold Hill, Romford, on Friday when she was approached by two men.It is understood one of the men was seen to stab her in the back before the pair fled.The A-Level student’s apparently random murder is the latest grim chapter in the capital’s knife crime epidemic.Debbie Chesney, her grandmother, spoke of her anger at the spate of senseless killings.She wrote online: “This was our youngest granddaughter. How have we come to this point where kids can’t have a walk in a park without suffering an unprovoked attack?“We don’t want anyone else to go through what our family is suffering right now.“This has to stop, there are too many young people having their lives cut short by needless violence.”Her granddaughter’s final moments unfolded in the company of friends and nearby neighbours who had rushed to her aid.Teresa Farenden, a 49-year-old mother of three whose home backs onto Harold Wood where the girl was attacked, went to help the teenager after hearing screaming coming from the park shortly after 9pm. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings. Friends who congregated at the scene tearfully told how the girl was studying psychology and sociology for her A-Levels.She apparently attended Havering Sixth Form College.The students, who lay flowers near the site where she was attacked, said she was not the type of girl to get into any trouble and was “the nicest girl possible”.A mother who had accompanied her son – a friend of the girl’s – to the scene, said Jodie was with three friends in the park when the attackers struck.“Two of them chased the scumbags and two of them were trying to get help,” the woman, who did not want to be named, said.“I believe it was a random attack. They were just sitting there, they were having a Friday night giggle, as we have all done.“What do you do at 17? You just want to go out and be with your mates and not have your mum tell you to stop making so much noise.“It is an inner city crime that is moving to outer London areas; it was never like this before.”Forensic officers conducted a fingertip search of the area, just yards from a children’s playground.A Scotland Yard spokesman said a murder investigation had been launched and the victim’s next of kin had been informed. No one has been arrested.
Among a number of resource-sector contract wins, Swift Networks Group has expanded its previous agreement with nickel miner Western Areas at its Forrestania operation in Western Australia.The existing contract, originally signed in 2014, was to provide in-room digital services to the 465-bed accommodation village at Forrestania. The new pact expands Swift’s contract by 68 rooms to 533 rooms and includes an on-site phone network upgrade in addition to Swift’s entertainment and communication services.Swift, which calls itself a diversified telecommunications, content and advertising solutions provider, says it delivered consistent growth in the resources market over 2018, both through direct contract wins and new clients secured by the company’s network of reseller partners.“The company continues to view Resources as an attractive growth opportunity in light of the significant pipeline of new mining exploration, construction and development projects currently underway throughout Australia,” Swift says.Forrestania is Western Areas’ flagship asset and consists of the Flying Fox and Spotted Quoll mines, the Cosmic Boy concentrator, a regional tenement package considered highly prospective for further nickel discoveries, and significant site infrastructure; including the accommodation village, grid-connected power, water management network, airstrip and nickel concentrate export facilities.Based on 10-year production targets, Forrestania is expected to produce an average of 25,000 t/y of nickel concentrate.
Updated at 7.45pmGARDAÍ ARE HUNTING for two men seen escaping the scene of a suspected gangland-related killing near Tallaght, south Dublin last night.A critically injured man in his early 40s was discovered off the Foxhill Road, Bohernabreena at aound 10.45pm last night after detectives from Tallaght Garda Station came upon the scene while on routine patrol.The officers had initially stopped to investigate a car parked suspiciously on the road, but as they arrived alongside it, two men jumped into the vehicle and sped away, Garda spokesman Superintendent Dave Taylor told reporters this afternoon.“It was a narrow road and wasn’t possible for detectives to follow,” Taylor said. “They did carry out an extensive search of the area but the car has not been located to date”.Upon returning to the original scene, the detectives came upon a man with “obvious wounds to the upper body”. He died from his injuries a short time later.The area was immediately sealed off pending forensic tests, and Deputy State Pathologist Dr Micheal Curtis carried out a preliminary examination of the scene this afternoon.The man’s body has since been removed to Tallaght Hospital, where a post-mortem examination is scheduled to take place tomorrow.Taylor said that gardaí weren’t released the man’s name as yet, but that a liaison officer had been appointed to his family.He issued an appeal to anyone who may have seen the car in question in the Bohernabreena area or further afield last night or earlier today, and said the vehicle was “silver in colour, a hatchback possibly”.“If anyone has seen this car, possibly parked up or abandoned suspiciously, we’re asking you to come forward and contact Tallaght Garda Station.” Taylor said.“We’re also appealing to anyone who might have seen individuals acting suspiciously in the Foxhill Road area.” A number of people have already contacted investigating officers to give information, Taylor said. The incident room in Tallaght can be reached at 01 666 6000.First posted at 7.44amRead: Mother of Edinburgh toddler charged over deathRead: Co Derry resident among 21 killed in Kabul suicide attack