Deutsche Bank set for a third quarter loss

first_img Deutsche Bank yesterday said sales and trading activity during July and August was weaker than a year ago, providing a warning shot that third-quarter investment banking earnings could be weak across the board.In a trading update provided as part of the prospectus for Deutsche Bank’s planned €10.2bn (£8.6bn) capital increase, Germany’s flagship lender said it expects to post a loss during the third quarter thanks to a one-off charge and weaker trading. The main reason for the loss is a €2.3bn revaluation charge for the bank’s stake in Deutsche Postbank, but news of weak trading over the summer months sent jitters across the sector.Deutsche Bank shares closed down 4.5 per cent, helping send the Stoxx Europe 600 banking index down 0.8 per cent lower as Deutsche Bank’s rivals UBS, Credit Suisse and HSBC closed down one per cent or more.Deutsche Bank said sales and trading revenues at its corporate banking and securities (CB&S) businesses suffered seasonal reductions in July and August that were “more marked than in the comparable third quarter of 2009”.In the third quarter of 2009 Deutsche Bank had posted a pre-tax profit of €1.4bn. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Deutsche Bank set for a third quarter loss Tuesday 21 September 2010 8:31 pm KCS-content center_img Tags: NULL whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Sharelast_img read more

EasyJet poised to pay first dividend

first_img whatsapp KCS-content BUDGET airline easyJet is set to announce its first dividend payment alongside its results tomorrow, according to reports.The carrier has not paid a dividend since it listed ten years ago, but new chief executive Carolyn McCall has come under pressure from founder Stelios Haji-Ioannou to appease shareholders.Stelios, who quit the board in May in a row over strategy, said in an recent interview that the company should slow down expansion and pay a small, regular dividend. Stelios had threatened to withdraw easyJet’s permission to use the orange “easy” branding, but has since signed a licencing agreement that gives him 0.25 per cent of the firm’s profits. The FTSE 250-listed firm is expected to announce pre-tax profit of £154.5m tomorrow, following a profit upgrade in October that sent its shares up ten per cent. Annual profit is expected to be three-times more than last year, when higher fuel and staffing costs took the firm by surprise. Analysts have predicted strong profit growth in easyJet’s results, despite the firm losing millions when flights were grounded in April due to the volcanic ash cloud. Shares in easyJet closed at 466p on Friday, giving the firm a market capitalisation of almost £2bn. More From Our Partners Colin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org EasyJet poised to pay first dividend Tags: NULL Sunday 14 November 2010 10:37 pm Share Show Comments ▼ whatsapplast_img read more

Google eyes acquisition

first_img Google has expressed an interest in buying online coupon provider Groupon, according to reports at the weekend. Google could pay more than $3bn for the company, said the reports, making it one of the largest acquisitions for the internet giant. It has bought up several firms in recent months, while Groupon fended off a bid from online rival Yahoo earlier in the year. Google declined to comment yesterday, while Groupon was unavailable for comment. KCS-content Share whatsapp Google eyes acquisition by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald center_img Monday 22 November 2010 5:24 am Show Comments ▼ whatsapp More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Tags: NULLlast_img read more

Three fired as Apprentices enter final straight

first_img whatsapp KCS-content Tags: NULL THE penultimate episode and the welcome return of a familiar face. For the interview challenge, Lord Sugar prised Margaret Mountford from her scrolls (she’s completing a Ph.D in Papyrology) to interrogate the final five. Her steely glare and raised eyebrow were as effective as ever, though other interviewers favoured a less subtle approach. “I’m going to give you an opportunity to do it the hard way and I’ll rip you to shreds,” snarled Claude Littner, playing the role of a cut-price Bond villain.Grilled in the glamorous surroundings of Viglen’s St Albans headquarters, each candidate had their own way of dealing with the interview process. Joanna crumbled, Jamie blamed others for his failings while Stuart violated basic social conventions. Stella and Chris meanwhile registered so little emotion you wondered if they were the result of Viglen’s first foray into artificial intelligence. Stuart seemed to be having the toughest time, with questions raised about his ethics, business practices and just how truthful his CV was. He was also asked the question viewers have been waiting 11 weeks for an answer to: “I’m Stuart Baggs, the brand’ – what on earth are you talking about?”We never quite found out but it is fascinating what you learn from these interviews (aside from the range of telecoms licenses available in the Isle of Man). Jamie may or may not have a third nipple and apparently Chris is one of the foremost theology scholars in Britain. When he was pressed on it, he admitted he meant he did well at A Level. One wonders how he’s reinterpreted his Cycling Proficiency test and grade two piano exam.Speaking of learning new things, perhaps mid-interview wasn’t the best time for Joanna to find out that there’s a difference between Amsair and Amstrad and the correct pronunciation of Viglen. Back in the boardroom debate continued about the five hopefuls. Was Stella passionate enough? Should Joanna stick to running her small business? There was at least one easy, and long overdue, decision as Lord Sugar finally told Stuart to pack his Baggs. A true Christmas miracle.With another two firings due, Lord Sugar got rid of Joanna and Jamie, albeit with rather less relish. And so to the final, with Stella vs Chris, in a battle of the monotones, with experience on one side and education on the other. Wednesday 15 December 2010 8:10 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Three fired as Apprentices enter final straight whatsapp Sharelast_img read more

Bank of America cuts off WikiLeaks

first_img whatsapp Share Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Sunday 19 December 2010 10:53 pm whatsapp Bank of America cuts off WikiLeaks center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePost FunWoman Refuses To Tip Waiter But Didn’t Realize What She Left At The TablePost FunFilm OracleHer Love Triangle Inspired 3 Of The Most Popular Songs Ever WrittenFilm OracleLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMoneyWise.comStick A Fork In Em’ These Chain Restaurants Are Almost Done MoneyWise.comThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save ThousandsThe No Cost Solar Program BANK of America has said it will not process payments intended for WikiLeaks, which has angered US authorities with the mass release of US diplomatic cables.The largest US bank by assets joins a growing group of financial services companies, including MasterCard, PayPal and Visa Europe, which are restricting payments to the global organisation that has said its next large document release will be bank information.WikiLeaks has said it will release documents early next year that will point to “unethical practices” at a major US bank, widely thought to be Bank of America.WikiLeaks later issued a message on Twitter urging its supporters to leave the bank. KCS-content Tags: NULLlast_img read more

Groupon hires new CFO from Amazon

first_img Show Comments ▼ KCS-content whatsapp Tags: NULL Groupon hires new CFO from Amazon Share Monday 20 December 2010 8:07 pm whatsapp GROUPON has brought in a former Amazon executive as its new chief financial officer, the discount coupon provider said yesterday.Jason Child, a former vice president of finance for Amazon’s international business, took on the new role with Groupon yesterday.Groupon turned down a $6bn (£3.86bn) buyout offer from Google earlier this month.The Chicago-based company’s viral couponing concept has been a hit, with annual revenue said to range from $500m to $2bn. It sends members daily e-mails with a variety of discounts. The deals are activated when a minimum number of people agree to make a purchase.Child spent 12 years at Amazon after seven years at Arthur Andersen. More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orglast_img read more

Expansion pays off for Hays as foreign fees drive revenue

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Thursday 6 January 2011 7:14 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp KCS-content BRITISH recruitment group Hays reported a 21 per cent rise in second-quarter net fees yesterday, as its overseas expansion strategy was vindicated by a recovery to pre-recession levels in many international markets.“We have now got several countries both in Asia and Europe approaching above pre-downturn levels,” said finance director Paul Venables, noting an improved performance in countries such as Australia, Germany, Japan and Spain.Hays, which specialises in placing office workers, describes itself as the world’s biggest specialist recruiter, although its revenue is about a sixth of Adecco, the world’s biggest staff agency.Hays said net fees grew more than 20 per cent in 19 countries in the quarter. Asia was up 36 per cent and Germany, its largest European market, jumped 47 per cent.But the British and Irish market, which has shrunk to 35 per cent of Hays’s overall net fees, was flattened by a slump in the public sector, where a 38 per cent drop in fees offset growth of 28 per cent in the private sector.Venables said the trough is in sight in the public sector. “We expect our UK public sector business to hit the bottom in the April, May time. We expect to return to absolute levels of growth … from July onwards.”Hays, which has more than 340 offices in 29 countries, is looking to countries such as China for growth, pledging to increase the number of consultants there more than fourfold. Tags: NULLcenter_img Share Expansion pays off for Hays as foreign fees drive revenue whatsapp Show Comments ▼ last_img read more

New York factory output surges

first_img whatsapp Show Comments ▼ Share whatsapp New York could be set to replicate the economic recoveries in Germany and the UK with a boom in manufacturing, according to data released yesterday. The US Empire State manufacturing index jumped from 9.9 to 11.9 for this month. Yet the most positive data came in new orders, which shot up to 12.4 from 2.0. Shipments hit a ten month high of 25.4, up from 7.1. New York factory output surges center_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Tuesday 18 January 2011 8:00 pm KCS-content Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Adslast_img read more

Fears of City exodus from Non-dom plan

first_img KCS-content whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Fears of City exodus from Non-dom plan GOVERNMENT plans for a crackdown on “non-doms” could hit Britain’s economic recovery and cause an exodus of wealth creators from the City, tax experts warned yesterday.Chancellor George Osborne is considering plans to introduce a flat-rate levy for the 120,000 non-doms – people residing in the UK, but not domiciled here to avoid paying UK tax on their foreign earnings – in an extension of a punitive tax regime introduced by former Prime Minister Gordon Brown.International mobility partner at PricewaterhouseCoopers Sean Drury said: “If we reduce the tax benefits for foreign nationals working in the UK, they’re going to think twice about coming here. There is a risk – if there is a large outflow of non-doms – that actually the tax take would reduce.”He added: “This is yet another round of discussions around non-dom taxation. The community is looking for a settled regime in order to make long term decisions about location.”The crackdown on the super rich comes as the government plans “investor visas” to make it easier for multimillionaire foreigners to live and invest in Britain.Drury warned the changes sent “conflicting messages” to wealthy businessmen, which could reduce Britain’s status as an attractive destination for international investors.Gordon Brown introduced a £30,000 annual charge for non-doms who have lived in Britain for seven years or more in 2007.However, the levy has been seen as a failure after it raised only £162m and resulted in 16,000 rich businessmen leaving the country. In opposition, George Osborne advocated a levy of £25,000 per year for all non-doms in order to raise as much as £3.5bn for the Treasury.Any attempt to impose a new, stricter regime would hit high profile non-doms, including Conservative party donor Lord Ashcroft.Harsher charges could however help coalition plans for an increase in the basic income tax threshold, in a development that would be seen as a win for the Liberal Democrats.Nick Clegg’s party campaigned at the general election to raise the basic income tax threshold to £10,000 and has also called for non-dom tax loopholes to be closed.The Treasury estimates it will receive £350m for the last tax year from non-doms under the present regime. This is on top of the approximately £4bn the Treasury already receives in UK income tax each year. whatsappcenter_img Monday 7 February 2011 8:52 pm Share Show Comments ▼ More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Tags: NULLlast_img read more

Diamond: low returns will be banished

first_img KCS-content Tags: NULL Show Comments ▼ whatsapp BARCLAYS  chief executive Bob Diamond promised rigorous action to bring up the bank’s returns at its full-year results presentation yesterday, saying that “there are no sacred cows” in his cost-cutting.Diamond was keen to address the bank’s “unacceptable” return on equity of 7.2 per cent in 2010, announcing a target of 13 per cent by 2013. With the bank’s cost of capital currently running at 12.5 per cent, he said that £1bn of savings would be required over the next three years to bring returns above costs. The savings could come in part from shutting down or selling off “underperforming” businesses, although Diamond did not detail which units could be for the chop.Overall, the bank’s results beat expectations, with pre-tax profit for the group hitting £6.1bn, up 32 per cent on last year and above a consensus view of £5.7bn. Most of the earnings came from BarCap, which generated pre-tax profits of £4.8bn.The group was hit hard by the ongoing property crisis in Spain, however. Barclays Corporate recorded a £631m loss on the back of troubles in the Spanish construction and real estate sectors. “We’re clearly not earning the returns that are acceptable,” said Diamond of the bank’s Spanish division, promising action by its new CEO.The group’s gross new lending was up by £35bn, plus £7.5bn through the acquisition of Standard Life Bank. whatsappcenter_img Tuesday 15 February 2011 8:36 pm More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comColin Kaepernick to publish book on abolishing the policethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Diamond: low returns will be banished Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldlast_img read more