Word: quartered
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...compared to rivals, Citi's performance looks even paler. Goldman Sachs and Wells Fargo both reported higher earnings in the second quarter than a year ago. JPMorgan's earnings were down from a year ago, but it still outperformed Citi in many parts of its business. Investment-banking revenues at Citi, for instance, fell 13% in the second quarter from a year ago; JPMorgan's investment-banking revenues rose 29% in the same time, according to Bernstein's McDonald. Then there's the issue of talent loss. As Citigroup's troubles have continued, the bank has begun to lose executives...
...most discouraging news remains Citi's loan portfolio. The bank's costs for bad loans jumped in the quarter by 81%, to $12.4 billion. The percentage of loans the company expects to go unpaid also continued to rise, though slightly less than before. Still, Citi's loans are going bad faster than those of many of its rivals. In the third quarter, the bank had a so-called net charge-off ratio, which is the percentage of loans that are likely to not be paid back compared to total loans, of 5.1%, according to CreditSights. That compares to a charge...
Flic Everett, 38, journalist, author and boutique owner I'd start with morning coffee and a homemade cake at Bread & Butter, tel: (44) 7944 607405, a tiny vintage-style café in the Northern Quarter. Then I'd jump in a cab down to Manchester Museum, tel: (44-161) 275 2634. It has a mammal gallery, an Egyptian collection and dinosaur bones, all housed in Gothic Victorian splendor. Afterward, I'd head to the Lowry Hotel, tel: (44-161) 827 4000, just across the river in Salford for afternoon tea on the River Bar terrace. They serve pastel-colored macaroons...
...Alex Poots, 42, director, Manchester International Festival My perfect day would start at Oklahoma, tel: (44-161) 834 1136, one of the Northern Quarter's many bohemian cafés. For a moment's peace and quiet I'd head to St. Mary's, the "Hidden Gem" church, tel: (44-161) 834 3547, a beloved Manchester institution since 1794, before going over to the Manchester Velodrome to watch some of Britain's Olympic gold-medal cyclists train at the National Cycling Centre, tel: (44-161) 223 2244. Evening would find me at Bridgewater Hall, tel: (44-161) 907 9000, which...
...been especially easy to find. Aggregate new bank lending surged 201% in the first half of 2009 from the same period a year earlier, to nearly $1.1 trillion. Exuberance over a quick recovery - which was given a boost by China's surprisingly strong 7.9% GDP growth in the second quarter - has buoyed investor sentiment not just for stocks but also for real estate. According to government data, new home prices in 36 Chinese cities rose 6.3% in June from a year earlier. The property sector is showing signs of the frothy enthusiasm that is symptomatic of the onset...