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Desjardins almost doubles ABCP writedowns with $220M Q1 writedown
Summary from multiple countries, from articles in English
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MONTREAL - Asset-backed commercial paper weighed down the quarterly results of another Canadian financial institution as Desjardins Group took a $220 million first-quarter writedown, nearly doubling its total charges related to ABCP to $493 million. (article 4)
The writedown announced Thursday equals $150 million after income taxes and follows pre-tax charges of $116 million taken in the fourth quarter and $157 in the third quarter. (article 4)
Canada's largest credit union said in March that any re-evaluation in its writedown of asset-backed commercial paper would likely reduce the provisions. (article 4)
Sterling's decline against the euro has done little to put off British holidaymakers from continental European destinations, Thomas Cook said on Thursday. (article 1)
Compass Group appeared to be heading in the right direction on Wednesday reporting a 5 per cent rise in interim revenues on an organic basis and a 60 basis point increase in operating profit margin, slightly ahead of guidance given to analysts. (article 2)
Most Asia-Pacific equities rallied on Tuesday, following Wall Street€s gains overnight, as investors took heart from retreating oil prices and better-than-expected earnings from HSBC. (article 3)
In Australia, all eyes were on the stocks of Westpac and St George Bank, which resumed trading today after announcing the planned merger. (article 3)
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Other stories about cent, growth and quarter:
Event tracking:
Story keywords
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cent, growth, quarter, inflation, slowdown |
Source articles
- Thomas Cook travels well in rocky market (ft.com, 05/15/2008, 353 words)
- Compass plans further £400m share buy-back (ft.com, 05/14/2008, 533 words)
- Asian markets gain as oil retreats (ft.com, 05/13/2008, 611 words)
- Desjardins almost doubles ABCP writedowns with $220M Q1 writedown (cbc.ca, 05/15/2008, 497 words)
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blaster@cs.columbia.edu
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