Oxford Industries Q2 profit surges Sep 2, 2010
"We will continue to focus on the efficiency of our operations and on carefully selected sales growth opportunities, said J. Hicks Lanier, chairman and CEO of Oxford Industries, in an earnings statement. We are also committed to maintaining a strong balance sheet and preserving the full range of our strategic alternatives as we position our business to capture additional value for our shareholders.". Most Read Stories. (Atlanta Business Chronicle, GA)
Fear, nonetheless, of a double-dip recession still stalks the market. Sep 2, 2010
Balance sheet management retained the No.1 spot, with 28 per cent identifying debt reduction as the most important overall influence on results. Encouragingly, this was down from 36 per cent before the reporting season. (Sydney Morning Herald -- Business)
Petronas to acquire BP's interests in two companies for US$363mil Sep 1, 2010
In a statement, PETRONAS will pay US$363mil in cash to BP, inclusive of a balance sheet adjustment of US$13mil and the repayment of a shareholder loan of US$53mil, under the terms of the agreement. Subject to certain conditions, both parties anticipate completing the transaction by the end of 2010, the coampny said. (The Star Online, Malaysia -- Business)
Fed minutes show initial discord over buying more bonds Sep 1, 2010
Most members of the Federal Open Market Committee thought it unwise to allow the Fed s balance sheet to contract, which would have happened were it not for their action, because that would tighten monetary policy when the economic outlook was weakening, according to the minutes. However, other members noted that the magnitude of the tightening was uncertain, and a few thought that the economic effects of reinvesting principal. (Boston Globe)
READ: Aug. 10 minutes Sep 1, 2010
Developments in Financial Markets and the Federal Reserve's Balance Sheet The Manager of the System Open Market Account (SOMA) reported on developments in domestic and foreign financial markets during the period since the Committee met on June 22-23, 2010 ... On the one hand, the revised data might indicate that households have made greater progress in repairing their balance sheets than had been realized, potentially allowing stronger growth in consumer spending as the recovery proceeds ...... (USA Today -- Money)
Fed minutes show debate about how to spark economy Sep 1, 2010
By Paul Davidson, USA TODAY Some Federal Reserve officials worried that a recent decision to keep the Fed's huge balance sheet from shrinking would "send an inappropriate signal" that a new round of economic pump-priming is near, according to minutes of the Fed's Aug. 10 meeting released Tuesday. At the same time, policymakers said they're prepared to take more steps to stimulate growth if the economy slides further. (USA Today -- Money)
Fed Discussed Further Stimulus Steps Sep 1, 2010
After the recession began in December 2007, the Fed tripled its balance sheet to help bolster economic growth and steady the housing market ... Zandi said the Fed could begin significantly expanding its balance sheet by buying large amounts of Treasury securities if the unemployment rate begins to rise on a sustained basis. (Click2Houston, TX)
BP said Wed it is selling some M'sian assets for US$363 Sep 1, 2010
The cash payment includes a loan repayment of $53 million and a $13 million balance sheet adjustment, BP said. The British company will also receive a pre-closing dividend payment of $48 million, subject to approval by the Ethelyne Malaysia board. (The Star Online, Malaysia -- Business)
Ben Bernanke: Looking for answers Sep 1, 2010
The Fed can continue to goose interest rates and expand its balance sheet, but at this particular moment in this particular downturn, what matters more is reducing unemployment and increasing consumer demand. And there's not much Bernanke can do about that. (San Francisco Chronicle -- Opinion)
Gameloft: Results for the First Half of 2010 Sep 1, 2010
03 BALANCE SHEET (EURK) 30/06/2010 31/12/2009 ASSETS Net intangible fixed assets 14,720 12,602 Net tangible fixed assets 5,249 4,579 Non-current financial assets 2,364 1,948 Assets from deferred assets 3,384 2,762 Total non-current assets 25,718 21,892 Inventory 60 457 Clients receivables 34,324 32,626 Cash and cash equivalents 25,985 19,804 Other current assets 8,207 8,674 Total current assets 68,577 61,562 TOTAL 94,294 83,454 LIABILITIES Capital 3,744 3,740 Issue premium 66,803 66,593 Reserves... (Yahoo! Wire -- Entertainment News)
First Financial prepays $232M Sep 1, 2010
Our balance sheet remains strong as capital levels remain essentially unchanged and we continue to maintain a high degree of liquidity, Davis said in the release. We are still well-positioned to take advantage of strategic opportunities in our markets and continue investing in our franchise. (Dayton Business Journal, OH)
Mid-America buys more Dallas area apartments Sep 1, 2010
The company in 2010, either on its own balance sheet or through Mid-America Fund II, a joint venture with Dallas-based. La Valencia at Starwood is a gated community completed in 2009. (Memphis Business Journal, TN)
Fed officials saw risk of sending wrong signal Sep 1, 2010
Some Federal Reserve officials were concerned their decision to maintain their balance sheet would send an unintended signal the central bank is ready to resume large-scale asset purchases, minutes of the Aug. 10 meeting showed. Also, a few policy makers said the economic effects of the decision "likely would be quite small," the Fed's Open Market Committee said in a report today in Washington. (Sydney Morning Herald -- Business)
Trevor O'Hoy joins ASG board Sep 1, 2010
Mr O'Hoy stepped down from Foster's in June 2008 after he unveiled $770 million of writedowns to its then struggling wine business and a profit downgrade as his decision to buy wine giant Southcorp shook the Foster's balance sheet. Mr O'Hoy said this morning he was looking forward to helping ASG continue to grow profitably. (Sydney Morning Herald -- Business)
MFS King labels JPMorgan 'pretenders' Sep 1, 2010
A document prepared by JP Morgan shown in court indicated the investment bank expressed some uncertainty about getting the bond issue done, given MFS's balance sheet and unfolding credit crisis at the time. Mr King said he totally disagreed with the investment bank's view, given their position was "totally inconsistent with other research reports from other brokers". (Sydney Morning Herald -- Business)
Aevum ahead in Stockland stoush Sep 1, 2010
That point is not lost on the LINWAR Securities analyst Richard George, who notes that ''the composition of 'revenue' for retirement companies is somewhat distorted by the revaluation number, which is essentially a balance sheet item ... While that's bad enough, the real concern for investors should be the company's balance sheet position. (Sydney Morning Herald -- Business)
Lowell Generals bond deal heightens risk Sep 1, 2010
A planned $115 million bond offering by received a Baa1 rating, or three notches above junk status, from , which said the hospital s balance sheet will be weakened by significantly more debt. Next month, fixed-rate and variable rate bonds are expected to be sold on behalf of the hospital. (Boston Business Journal, MA)
Most expect Dell to let HP win 3Par Sep 1, 2010
"I think it's hard to compete with HP. They've got the bigger balance sheet," Reuters quoted Peter Bell at venture capital firm as saying. Written by Cromwell Schubarth. (San Jose Business Journal, CA)
Kingfisher to raise Rs 5K crore, but analysts find plan ambitious Sep 1, 2010
Kingfisher chairman Vijay Mallya had told ET last month that the company will clean up its balance sheet by restructuring debt before raising funds. He had said the debt restructuring will enable the company to use the fund for growth capital, rather than paying off its creditors. (India Times)
Sanjay Kapoor Sep 1, 2010
Does Bharti have a stronger balance sheet compared to competitors because the company refused to match discounts given by other telcos. We have to consider two factors here. (India Times)
Isle of Capri swings to Q1 loss Sep 1, 2010
St. Louis Business Journal. Send this story to a friend. (St. Louis Business Journal, MO)
More lenders at risk; others see profit growing Sep 1, 2010
"The banking sector has made much progress in cleaning up its balance sheet, and recent surveys show that lending standards are starting to ease," Bair said. "But lending will not pick up until businesses and consumers gain the confidence they need to hire and spend.". (San Francisco Chronicle -- Business)
Report fuels talk of QBE reshuffle Aug 31, 2010
QBE's deteriorating capital position, its use of captive insurance to reduce the cost of reinsurance - which is adding to the group's overall risk - an opaque balance sheet, currency risk, low growth and declining return on equity are making investors increasingly wary. In the next few years there will be challenges aplenty at QBE as the glory days have come to a sad end. (Sydney Morning Herald -- Business)
Most Economists Favor Extending Bush Tax Cuts Aug 31, 2010
While that was down from two-thirds support in the last survey in March, 77% backed the Fed's latest move earlier this month to put proceeds of maturing mortgage-backed securities into Treasurys in order to keep the balance sheet from shrinking too quickly. Most economists don't expect the Fed to lift its pledge to keep rates at record lows for an "extended period" this year, but are split on what the next policy move should be. (SmartMoney)
Mid-America buys Dallas apartments for $31.25M Aug 31, 2010
The company plans to purchase , either on its own balance sheet or through Mid-America Fund II, a joint venture with Dallas-based. It recently purchased a pair of properties for $65. (Memphis Business Journal, TN)
Colo. Ballet names chief Aug 31, 2010
In recognition of its improved balance sheet, American Humane's rating by nonprofit evaluator Charity Navigator rose from one star to three stars out of four between 2005 and 2006. It remains at three stars today. (Denver Business Journal, CO)
Asia Entertainment & Resources Ltd. Announces Second Quarter 2010 Financial Results Aug 31, 2010
Cash Flow and Balance Sheet Highlights ... Through the promoters, "non-negotiable chips can be converted back into cash at any time. Betting using rolling chips, as opposed to using cash chips, is also used by the DICJ (Macau Gaming Control Board) to distinguish between VIP table revenue and mass market table revenue.About Asia Entertainment rces Ltd.AERL, formerly known as CS China Acquisition Corp., acquired AGRL on February 2, 2010. The principal business activities of AGRLs wholly... (Yahoo! Wire -- Entertainment News)
How deep after Jackson Hole? Aug 31, 2010
" Bernanke's policy goal, as outlined in Jackson Hole, is to reduce interest rates across the term-structure and expand domestic credit in any and every way imaginable. The words that could well be his motto are: "inflate and everything else be damned". Bernanke and his supporters have firmly adhered to money unorthodoxy. He wanted to fight deflation in 2002 when he joined the Fed, four years before being appointed chairman. Since then, prices of real estate, food, oil, gold, and other... (Asia Times Online)
GINSMS Reports Increased EBITDA, Net Earnings and Gross Profit Margin for First Quarter Ended June 30, 2010 Aug 31, 2010
In connection with this agreement, on the acquisition date, a refundable payment of HK$3,500,000 (CDN$472,165) was made by GINSMS, and is included in deposits on the balance sheet as at June 30, 2010. . (CCNMatthews Press Releases)
Whole Foods CEO: Healthy food is affordable necessity Aug 31, 2010
We've restored our balance sheet. We keep a lot more cash on our balance sheet. (USA Today -- Money)
New HP, Air Force deal worth up to $800M Aug 31, 2010
HP has a strong balance sheet, said interim CEO Cathie Lesjak, who is also the company's chief financial officer. We plan to be active in repurchasing our shares, and we expect to repurchase at least $3 billion worth of our shares in our fiscal fourth quarter at current price levels. (New Mexico Business Weekly, NM)
JAL to submit rehab plan including 16,000 job cuts Aug 31, 2010
After improving its balance sheet, JAL aims to go public again by the end of 2012. The government asked charismatic entrepreneur Inamori, founder of high-tech company Kyocera and an ordained Buddhist monk, to turn around the former state-run company. (Yahoo! Asia News)
- BHP says Potash offer is fair and timing opportune Aug 30, 2010
Our balance sheet allows us to raise the credit necessary to buy, the valuations match and basically, if you look at the landscape of competitors, theyre not in the same position. . (Taipei Times, Taiwan -- World)
Economic reports could push Fed to take further action Aug 30, 2010
Expanding its $2 trillion balance sheet with additional purchases of long-term securities. Announcing plans to keep its benchmark interest rate near zero for "a longer period than is currently priced into the markets.". (USA Today -- Money)
Is the NPP Really an Akans-Only Parade? Aug 30, 2010
But even more significant, and a fact that the editor of the Herald seems to have deliberately and conveniently ignored, is that on a political balance sheet, the supposedly minority-dominated, or largely minority-composed NDC, has fared significantly worse at the helm of governance than the Akan-dominated NPP. What the preceding clearly means, of course, is that the effective minoritization of the NDC, as opposed to the defective majoritization of the NPP, has not in any way, shape... (Ghana Web, Ghana)
BHP plays down higher than US$39bil Potash bid Aug 30, 2010
The opportunity in Potash is that we are now in a situation that our balance sheet allows us to raise the credit necessary to buy, the valuations match, and basically if you look at the landscape of competitors, theyre not in the same position as we are, Vanselow told ABCs Inside Business show. So youve taken all this into consideration you can see this is an opportune time to make a bid. (The Star Online, Malaysia -- Business)
QBE chief in the spotlight Aug 30, 2010
Premiums across most categories are flat to falling because of excess capacity in the market, leaving investors questioning the company's deteriorating capital position, its underlying insurance margin, opaque balance sheet and the reliance on making acquisitions for growth. Since O'Halloran came to power he has made more than 100 acquisitions. (Sydney Morning Herald -- Business)
Kenya: Govt to Guarantee Large Energy Projects Aug 30, 2010
With the advent of several large IPPs, it soon became clear that the balance sheet of KPLC was not large enough to cover the amounts stipulated in the letters of credit that were required. New IPPs coming up started demanding sovereign guarantees -- hence the controversy between the Treasury and the Ministry of Energy. (allAfrica.com)
Farmer confidence at 2.5-year high Aug 30, 2010
Rabobank's general manager for Rural Australia, Peter Knoblanche said the global grain balance sheet is tighter and the bank does not expect prices to fall back to levels seen earlier in 2010. "Although this rally in prices has cooled, favourable weather conditions on the east coast of Australia have put Australia in the box seat," he said. (Sydney Morning Herald -- Business)
Mid-America set for acquisitions Aug 30, 2010
Companies which have a good balance sheet are in a good position to build strength for the future, Campbell says ... The company s goal is to acquire $200 million worth of property for its own balance sheet before the end of 2010. (Memphis Business Journal, TN)
Analysis: Bernanke Soothes Hawks With Nod to Stimulus Risk Aug 30, 2010
The Fed's move nearly three weeks ago to resume buying longer-term Treasury securities to hold its balance sheet steady, instead of allowing them to continue running off, was a controversial one within the bank's inner sanctum ... Critics of the move on the Fed's policy-setting panel are wary of further bloating a balance sheet that at $2. (ABC News -- Wire)
The uncomfortable mathematics of monetary policy Aug 29, 2010
5 trillion in Treasury and mortgage bonds, bringing its balance sheet to a still-lofty $2. 3 trillion from pre-crisis levels around $850 billion. (India Times)
Bernanke: Fed will take action if economy falters Aug 29, 2010
Expanding the Fed's $2 trillion balance sheet with additional purchases of long-term securities. Making it clear to investors that the Fed will keep its benchmark interest rate near zero for "a longer period than is currently priced into the markets," or. (USA Today -- Money)
Take care, the world economy's not out of the woods yet Aug 29, 2010
While record low interest rates remain in the US, Britain, Europe and Japan, Madison Financial Group says that banks are still not lending enough, preferring to concentrate on repairing their balance sheets ... He says the ideal company is likely to have a strong balance sheet, sustainable operating model that generates high surplus cash flow, and be shareholder focused in its payout strategies. (Sydney Morning Herald -- Business)
- Bernanke vows to take action as recovery slows Aug 29, 2010
It was his strongest signal yet that the central bank could resume massive purchases of longer-term debt if the economy worsened, adding to the Federal Reserves already bloated balance sheet. Speaking at an annual central bank gathering in Jackson Hole, Wyoming, Bernanke said the Fed had adequate weapons in its arsenal to jolt the economy from any sharp slowdown, brushing off criticism by some analysts that it has been pushed to a corner. (Taipei Times, Taiwan -- World)
Bernanke: Fed prepared for new econ action Aug 28, 2010
"However, the expected benefits of additional stimulus from further expanding the Fed's balance sheet would have to be weighed against potential risks and costs.". Bernanke said continued high unemployment is dampening consumer confidence, which in turn is slowing the recovery. (Denver Business Journal, CO)
Q2 GDP Revised Down to 1.6% Growth From 2.4% Aug 28, 2010
Slowing growth and a growing risk of deflation prompted the Federal Reserve to take action earlier this month, deciding to reinvest proceeds from maturing mortgage-backed securities into U.S. Treasurys to keep its balance sheet from shrinking. The move is aimed at kick-starting the economy by helping to keep borrowing costs low. (SmartMoney)
US Fed eyes aggressive steps if recovery fades Aug 28, 2010
It was his strongest signal yet that the central bank could resume massive purchases of longer-term debt if the economy worsened, a move that would add to the Federal Reserves already bloated balance sheet. Bernanke spoke just after the government Friday slashed second quarter growth in the world's largest economy to a pace of 1. (Yahoo! Asia News)
Fed stands by to boost U.S. growth Aug 28, 2010
The Fed chairman defended the central bank's surprise decision earlier this month to keep the size of its balance sheet constant and said the Fed was prepared to take "unconventional" measures to stimulate the economy if the outlook darkens. Outlining other ammunition the Fed could use, Mr Bernanke pointed to additional purchases of long-term securities, changing the language of the Fed's statements and reducing interest paid on excess reserves. (CNN -- International)
Small business lending finds a few bright spots Aug 28, 2010
We have a solid balance sheet and don t have the problems others had, said Sam Davis II, president and chief operating officer. We ve been able to aggressively knock on doors and tell people we have money to loan and attract businesses that have weathered the economy. (Tampa Bay Business Journal, FL)
AT&T sells Sterling Commerce for $1.4B Aug 28, 2010
The company expects to record a one-time $800 million pre-tax gain from the sale on its balance sheet in the third quarter. kerripanchuk@bizjournals. (Dallas Business Journal, TX)
READ: Bernanke's speech Aug 28, 2010
But on the other hand, the upward revision to the saving rate also implies greater progress in the repair of household balance sheets. Stronger balance sheets should in turn allow households to increase their spending more rapidly as credit conditions ease and the overall economy improves ... Generally speaking, large firms in good financial condition can obtain credit easily and on favorable terms; moreover, many large firms are holding exceptionally large amounts of cash on their balance... (USA Today -- Money)
Dollar up against euro, down against yen Aug 28, 2010
The comments were his strongest signal yet that the Fed could resume massive purchases of longer-term debt if the economy worsened, a move that would add to the Federal Reserve's already bloated balance sheet. 00004000. (Sydney Morning Herald -- Business)
Regulator warns banks off mortgage-based bonds Aug 28, 2010
One analyst yesterday said the practice reminded him of the 1980s when some regional banks were lending funds to one another and counting it as capital sitting on the balance sheet. Deutsche Bank analyst James Freeman said yesterday the regulator's tough stand could lead to a dropoff in securitisations while the banks could be forced to top up the level of capital they held against securitisations. (Sydney Morning Herald -- Business)
Abacus back in the black Aug 28, 2010
Chief executive Frank Wolf said the company was now well positioned with a strong balance sheet ... We have further strengthened the balance sheet ... Following our capital management initiatives to strengthen the balance sheet and increase liquidity, we will continue to work to reduce this discount as we access core plus acquisitions to deliver enhanced returns,'' Mr Wolf said. (Sydney Morning Herald -- Business)
Saab owner Spyker posts hefty loss Aug 28, 2010
Spyker s balance sheet says that at the end of the half year, it had a negative net worth of $US126 million. The group expects to end the year 2010 with sufficient liquidity to support its operations, the company said. (Sydney Morning Herald -- Business)
Dell raises bid for 3Par - HP counters Aug 28, 2010
"HP has the balance sheet to buy anything.". This article appeared on page D - 1 of the San Francisco Chronicle. (San Francisco Chronicle)
Corus to sell Teesside steel unit for $500 mn Aug 28, 2010
In May last year, Tata Steel gave a financial assistance of about 425 million in phases, with about 200 million to pay off debts and for improving the balance sheet. According to people familiar with the development, Sahaviriya Steel Industries is exploring options of relocating vital plant and machinery from Teesside to Thailand. (India Times)
Fed gets 60-day delay on bailout disclosure Aug 28, 2010
They more than doubled the central bank's balance sheet to well over $2 trillion, especially after the September 2008 collapse of Lehman Brothers Holdings Inc. The Fed has maintained that allowing disclosure could stigmatize banks, causing a loss of confidence that could lead to deposit runs, bank failures and damage to the economy. A group of major US and European banks known as The Clearing House Association supports the Fed in the case. (India Times)
Vodafone seen exiting Poland, China, eventually France Aug 28, 2010
Senior bankers said Vodafone was not under pressure to sell assets to shore up its balance sheet or improve cashflow. "Investors are anxious about Vodafone's deals that were done five to seven years ago," a telecoms banker said. (India Times)
Central questions Aug 27, 2010
The Fed's balance sheet now stands at a staggering $US2 ... We now know that quantitative easing has backfired, with banks and corporations simply shifting those securities from their balance sheets and hoarding the cash proceeds ... The longer-term consequences of such a large Fed balance sheet containing many credit-risky investments are unknown. (Sydney Morning Herald -- Business)
HP Trumps Dell Again as 3PAR Bidding War Escalates Aug 27, 2010
"Even though Dell has the balance sheet to step up the offer, they're probably reaching the upper limits of what they can offer," said Rodman aw analyst Ashok Kumar. "At the end of the day, Hewlett-Packard is in a better position to close the deal.". (ABC News -- Business)
Paladin Energy Ltd: 30 June 2010 APPENDIX 4E Preliminary Financial Report Aug 27, 2010
-- Strong balance sheet at 30 June 2010 with US$348. 8M in cash invested with Australian banks with a minimum AA Standard s credit rating. (CCNMatthews Press Releases)
One-offs hit NQM bottom line Aug 27, 2010
"NQM's balance sheet remains strong with total assets of $66.4 million and total liabilities of $15.6 million," the company said. It declared a final dividend of 0. (Sydney Morning Herald -- Business)
Stossel: Where Are the New Jobs? Aug 27, 2010
Regarding spending during his time in office he said, We have managed to acquire $13 trillion of debt on our balance sheet and, in my view we have nothing to show for it. Speaking of the debt, he said our debt almost equals the economy. (Townhall.com)
