Revenue jumps 32% in third quarter
Dutch insurance giant AEGON NV announced Tuesday that the government of the Netherlands will inject €3 billion (US$3.8 billion) into the firm to shore up its capital position.For the transaction AEGON will issue 750 million non-voting securities at €4 per security to Vereniging AEGON. In turn, Vereniging AEGON will be funded on back-to-back terms and […]
Unit expected to contribute $60 million to TD Bank’s Q4 earnings
Credit Suisse Group reported a net loss of 1.26 billion Swiss francs (US$1.08 billion) for the third quarter, as it forecast earlier this month, compared with net income of CHF 1.3 billion in the third quarter of 2007.Core net revenues were CHF 3.1 billion, down 48% from the third quarter of 2007. Private banking, which […]
Charges include $636 million in credit market impacts
Banking giant cuts 11,000 jobs
Merrill Lynch today reported a US$5.1 billion net loss from continuing operations for the third quarter, compared with a US$2.4 billion loss in the same quarter last year.The firm said that its third quarter net revenues were just US$16 million, driven by a number of significant unusual items, including:> net writedowns of US$5.7 billion resulting […]
Investment bank unit sees profits improve
Insurer to take $250 million hit from credit losses
The calculation gives clear evidence of the companies that have done well and those that haven’t