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3XSQ: Citi, BofA earnings hit by charges

Thursday, 17 Jan, 2013 - 04:32

Jan 17 - Citigroup's profit was plagued by $2.32 bln in charges related to layoffs and lawsuits, while Bank of America's quarterly profit dropped after taking some $5 bln of mortgage-related charges.

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I have time for cities new CEO end. -- could sue us later in the show. Times Square this Thursday from Reuters world headquarters in New York. By the court battle learning corner office can be quite a challenge the new -- -- CEO's saying it's -- businesses are combating competitive. And regulatory problems. As issues dating to the financial crisis that continue to plague the bank and its peers. City posting more than two billion in charges that -- to quarterly profit as trading revenue rebounded. In my hand knows all about those challenges his company Bank of America reported a decline in earnings. As it took more charges to clean up mortgage related problems. Checking shares of the company's right now sitting down about 3% Bank of America down just under two. The economic picture today looking brighter then bank results -- -- did it 335000. The number of Americans filing new claims for unemployment benefits. That's the lowest in five years the decline of 37000. From the previous week the biggest in nearly three years. Also housing starts jumped more than 12% to their highest rate since June 2008. Groundbreaking was boosted by 820 point 3% surge in multifamily -- destruction. Europe Japan and India have joined the US in grounding Boeing 787. The move comes after -- second incident involving battery failure caused when the dreamliner passenger -- to make an emergency landing. Boeing said in a statement it was competent disseminate that was safe and it did five -- planes integrity. And that comes as going -- captured the crown as the world's largest maker of passenger jets last year overtake Airbus for the first time in decade. Shares closed at 7434. Wednesday and are now at about 7345. Boeing -- -- today taking off the e-commerce site reporting holiday quarterly results that beat Wall Street's expectation. Think about when local -- strong marketplace -- -- -- PayPal transactions. And it forecast for 2813 inline with analyst estimates as the company invest for future growth opportunities. Shares rose about fifty for a box in the premarket and they're now about the sane. Eight bricks and mortar retailer faring well to our -- well joins us from London with more on car. Or -- signs it's just eat. Out yes yeah yeah I mean it really doesn't it seem Bradley's that is as Europe's biggest -- -- And the world's second biggest off to Wal-Mart actually had a pretty decent Q4. I'm price cuts helped and it's French core market as did. Some revamped product ranges of one guy in the deep south but that prior to that he caught a lot of that I'm in the quartet. But that was installed -- Ross spoke with the so with the Sullivan Europe which surprise surprise continues to drank. But -- prongs makes up 40% of cough or sales at these numbers which are well what are in line but it's solid nevertheless. Didn't speak to how resilient franks has been showing up by the way or so who are improving and Brazil. Also pretty -- so horrible. -- back safe for the very south of Europe which -- -- that is not a great surprise me I like this story Justine say false. Is so very nice. I wouldn't put on me actually a little bit and in Europe saying as you guys congress leader. Now all. Again from sorry I axle makes that night. There are four sells these next items that I'd buy him. Desired in Shanghai showcase their love for -- at SeaWorld chocolate wonderland fashion show in Shanghai yes launched by cosmetics company -- I'll -- in mostly animal garments and -- there made their way down a runway hoping chunks of chocolate would drop their downs. The strike me -- -- sweet yes but you know what peace when. -- -- -- -- That is the latest brief times where it is Thursday you can follow us on Twitter at -- -- insider and check out our way YouTube channel at Reuters dot com slash TV. And Lisa Bernard is it.

3XSQ: Citi, BofA earnings hit by charges

Thursday, 17 Jan, 2013 - 04:32

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