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Jackson Health System is showing some short-term financial improvement, but huge problems will come next year because of cutbacks made in the just-concluded session of the Florida Legislature, executives said Thursday. At an unusual public meeting intended to bridge the change from the system’s old governing board to its new one, four members of the [...]
Insurance Firm Sues CPA for $5.7 Million
An insurance company claims that relying on false financial statements has cost it $5.7 million. Travelers Casualty & Surety Co. of America has filed a federal lawsuit against the CPA, H. Neal Privitt of Little Rock, who provided the financial statements in an attempt to recover the money. Travelers was the surety bonding company for [...]
ASIAN-BASED IGATE’S Q3 NET INCOME UP 60% AT US$14.3 MLN
US-based, Indian-focused IT outsourcing firm iGATE on Wednesday said its net income jumped by 60.67 per cent to US$14.3 million in the quarter ended September 30, 2010. The company, which earns 80 per cent of its revenue from North American markets, had registered a net income of $8.9 million in the third quarter last year. [...]
If you smoke, Venice probably doesn’t want to hire you
May 13th, 2011 
gary VENICE – Smokers need not apply for city jobs under a tough new employment policy the City Council is considering. Applicants who smoke cigarettes or cigars or chew tobacco will not be considered for employment no matter how much they are otherwise qualified. And potential hires have to sign an oath they do not use [...]
BOC Q1 Net Interest Income Up 20%
May 5th, 2011 gary Bank of China (BOC, SHSE: 601988, SEHK: 3988), one of the Big Four state lenders in the country, recorded CNY 33.439 billion in net profit and CNY 0.12 in earnings per share in the first three months this year, up 27.75 percent and CNY 0.02 over the period of last year, in terms of its [...]
16 Banks Achieved CNY 677bn in 2010 Net
May 5th, 2011 gary So far, 16 listed Banks of China have published their annual reports for 2010. These lenders jointly achieved the net profit of CNY 677.4 billion in 2010, up 33.5% year on year. Among them, China Everbright Bank (SHSE: 601818) ranked the first place with 67% profit growth. What’s more, the loan growth of 11 listed [...]
Bank of Nanjing 2010 Net Profit Surges 49.7%
May 5th, 2011 gary Bank of Nanjing reaped CNY 2.311 billion net profit attributable to shareholders in 2010 fiscal year, representing a year-on-year rise of 49.7%. Basic earnings per share surged 47.54% to CNY 0.9. The lender’s deposits increased by 36.81% year on year and loans rose by 25.16% in 2010. Net interest spread was 2.55% at the end [...]
China Everbright Bank OKed to Kick off 12bn Share Offering
May 5th, 2011 gary China Everbright Bank Co., Ltd. (SHSE: 601818), one of the commercial lenders in the country, announced yesterday that it had gained go-ahead from the country’s top securities regulatory authority to sell up to 12 billion shares in its initial public offering (IPO) in Hong Kong. China Everbright Bank, whose IPO plan had won greenlight from [...]
China Minsheng Banking OKed to Open 3 Village Banks
May 5th, 2011 gary China Minsheng Banking Corporation Ltd. (SHSE: 600016) has gained approval from the China Banking Regulatory Commission (CBRC), the country’s top banking regulatory authority, to open three village Banks in the country. The three Banks will set foot in Jiading, a district in Shanghai, Penglai, a city in Shandong province, and Anxi, a county in Fujian [...]
Tianping Auto, Guohua Life Earned CNY49.7mn Net for Biocause
May 5th, 2011 gary Hubei Biocause Pharmaceutical Co., Ltd. (SZSE: 000627) issued the annual report for 2010 on April 27, 2011, showing its two subsidiaries Tianping Auto Insurance and Guohua Life contributed a total of CNY 49.705 million net profits. Founded in 2004 and with registered capital of CNY 630 million, Tianping Auto Insurance is the first nationwide auto [...]
