Word: pretax
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Dates: during 2000-2009
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...northeast coast. The bank has invested more than $4 billion since 2001 to buy stakes in Chinese financial institutions, including nearly 20% in both Bank of Communications, China's fifth largest bank, and Ping An Insurance, its second biggest life insurer. Compared with the same period in 2004, pretax profits in China increased sixfold, to $161 million, in the first half of 2005. As a sign of its renewed influence in the Middle Kingdom, the bank resides today in a new skyscraper called HSBC Tower in Shanghai's up-and-coming financial district of Pudong, across the Huangpu River from...
...next three years. Still, Pauget insisted that "our objective is not growth at any price." And he's not about to bet the farm on a huge deal: the $6 billion over three years that Pauget has earmarked for acquisitions is only slightly more than the company's pretax income last year. If such targeted prudence prevails throughout Europe, this merger wave could be a lot less accident-prone than the last...
...MOGLIA Our performance has been extraordinary. In a difficult environment our market cap has grown by five- or sixfold. We have greater than 50% pretax margins. We've got a pristine balance sheet. We are 25% of the active-trader market in the U.S. We're a very, very attractive asset...
...core of the 1994 bankruptcy of California's Orange County and the 1998 demise of hedge fund Long-Term Capital Management. Buffett once called derivatives "financial weapons of mass destruction," so you'd think he would steer clear. But his company, Berkshire Hathaway, has acknowledged a $307 million pretax loss in the first three months of this year that's due to a $21.4 billion position in "currency contracts," which are derivatives that hit pay dirt when the dollar falls. Problem is, the dollar is rallying. The greenback--up 4% against the euro in the first quarter and an additional...
...that indemnify most American casualty companies against extraordinary losses, cut back sharply or ran away from the business entirely, leaving the American firms to shoulder the losses alone. Finally, in 1984 underwriting losses swallowed up investment income entirely and, according to industry statistics, property-casualty insurers suffered an overall pretax loss of $3.8 billion. It was the first red-ink figure in nine years. In 1985 the pretax loss increased to $5.5 billion. Some 40 liability insurers have become insolvent in the past two years...