American Express has reported financial results for the first quarter 2011. Net income was $1.2 billion, up 33% from $885 million a year ago. “Record earnings this quarter reflect credit quality and billed business trends that are among the best we’ve seen,” said Kenneth I. Chenault, chairman and chief executive officer, American Express. “Cardmember spending [...]

American Express has reported financial results for the first quarter 2011. Net income was $1.2 billion, up 33% from $885 million a year ago. “Record earnings this quarter reflect credit quality and billed business trends that are among the best we’ve seen,” said Kenneth I. Chenault, chairman and chief executive officer, American Express. “Cardmember spending [...]

Central Pacific Financial Corp. Announces First Quarter 2011 Earnings Release and Conference Call Apr. 19, 2011 (PR Newswire) — /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:”Arial”; color:black; } span.prnews_wider { background-color:yellow; font-size:10pt; font-family:”courier new”; color:black; margin:0in; margin-bottom:.0001pt; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:”Arial”; color:black; } p.prnews_p { font-size:8pt; font-family:”Arial”; color:black; } [...]

Bank of America Corp.’s first-quarter income fell 39 percent on higher costs related to its mortgage business and higher litigation expenses. The bank also settled a claim over faulty mortgage investments and set aside less money to cover soured loans. View full post on All Stories

The European Central Bank has raised its main interest rate by 0.25 percentage points to 1.25 percent, the first rate hike since July 2008. The ECB raised another reference rate — the marginal lending rate — to 2.0 percent and its… View full post on All Stories

First Horizon National Corp is shedding its Insurance unit. It announced an agreement to sell First Horizon Insurance Inc. to insurer Brown & Brown Inc. through its principal subsidiary First Tennessee Bank. View full post on All Stories

Redbacks wicketkeeper Graham Manou has announced his retirement from first-class cricket. View full post on All Stories

A bill that would implement state regulation of commercial parasailing passed its first Senate committee Thursday by a vote of 6-1. The “Alejandra White Act” (SB 392, HB 451), named for a Georgia woman who died after a parasailing mishap in Clearwater, would require vessel operators to employ a “designated observer” on rides, participants to [...]

CHULA VISTA, Calif.–(BUSINESS WIRE)–First PacTrust Bancorp, Inc. (the “Company”) (NASDAQ: FPTB), the holding company for Pacific Trust Bank (the “Bank”), announced today that Chang Liu has entered into an employment agreement with the Company and the Bank under which he will be appointed as Executive Vice President and Chief Lending Officer of the Bank with [...]

South African power utility Eskom reported a surge in first-half profit on Tuesday, boosted by higher power tariffs, and said it had secured the necessary funding for its expansion programme. ||| South African power utility Eskom reported a surge in first-half profit on Tuesday, boosted by higher power tariffs, and said it had secured the [...]