Royal Bank of Scotland reports bigger than expected loss in 4th quarter

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Source: Marketwatch
Royal Bank of Scotland posted a GBP 1.8 billion loss compared to a profit of GBP 12 million in corresponding quarter year ago. The drop in profit was twice as big as expected, mainly triggered by a 17% drop in revenue which decelerated from  GBP 7.14 billion to GBP 5.92 billion. Economists questioned by Bloomberg predicted a net loss to reach only GBP 1.1 billion.
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Thu, 23 Feb 2012 10:59:38 GMT

Barack Obama: corporate tax to be cut to 28%

Barack Obama proposed to decrease the corporate tax from 35% to 28% by paying for reduction through abandoning subsidies and tax loopholes, said Timothy Geithner, US Treasury Secretary. The move is aimed at increasing domestic investment as well as stimulating labour market. Further, the lowered corporate tax will simplify tax code and decrease deficiencies in the US tax system.

Thu, 23 Feb 2012 11:26:09 GMT

Crude oil slips from nine-month high

Crude oil futures posted losses during the electronic session on Thursday. Even a slight decline in the US Dollar did not provided a further lift for the energy commodity price. Light, sweet crude oil April contract traded at 105.96 US Dollars per barrel during the Asian afternoon session on Thursday, falling by 32 cents, or by 0.3%.

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