BRIEFLY FORD MOTOR CO. REVS UP EARNINGS OUTLOOK.Byline: - Staff and Wire Services DETROIT - Ford Motor Co. raised its third-quarter and full-year earnings forecast for 2004, citing continued strong performance Friday at its financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. arm, even as the company's car business in the key U.S. market struggles. The news came on the same day Ford announced about 1,150 job cuts in England to streamline its Jaguar unit, whose weak sales have failed to offset spending on new products and other parts of the business. In a conference call, Ford also said Jaguar would exit Formula One racing This article focuses on a specific subtopic of Formula One. A Formula One race takes place over an entire weekend, with two free practice sessions on Friday, a practice session and a qualifying session on Saturday, and the race on Sunday. at the end of 2004 so the brand can focus on its core automotive business. The Formula One racing division is for sale, the company said. Citibank arm to be shut down in Japan TOKYO - Japanese financial authorities announced Friday that they would shut down Citibank's private banking business in the country after finding ``severe legal violations'' in its operations. The Financial Services Agency The Financial Services Agency is a Japanese government organization responsible for overseeing banking, securities and exchange, and insurance in order to ensure the stability of the financial system of Japan. The agency reports to the Minister of Financial Services. ordered that private banking operations be suspended starting September 29, putting an end to all new transactions. The government said it plans to revoke Citibank's private banking licenses in September of next year to discontinue that business entirely. Citibank in Japan, part of New York-based Citigroup Inc., said Friday that it accepts the orders and will comply with them. Judge allows delay in IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) pension case NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - The judge presiding pre·side intr.v. pre·sid·ed, pre·sid·ing, pre·sides 1. To hold the position of authority; act as chairperson or president. 2. To possess or exercise authority or control. 3. over a massive pension suit against IBM, which could cost the company more than $6.5 billion, agreed on Friday to a short delay while settlement talks continue. The suit, which contends that the ``cash balance'' pension plan the company adopted in the 1990s discriminated against 140,000 older workers, has been closely watched by scores of large companies that switched to similar pension plans in the 1980s and 1990s. The judge overseeing the case ruled in favor of the workers earlier this year. If IBM does not settle the case, a judgment could cost it at least $6.5 billion, the computer hardware and services company said in a quarterly filing with the Securities and Exchange Commission. That would be the largest pension judgment in history. Circuit City's loss less than thought RICHMOND, Va. - Circuit City Stores Inc., the nation's No. 2 consumer electronics chain, reported a smaller-than-anticipated loss in the second quarter due to higher sales and fewer charges related to the sale of its bank-card business. Shares of Circuit City rose about 4 percent. The retailer lost $11.9 million, or 6 cents a share, in the quarter ended Aug. 31, compared with a loss of $129.6 million, or 63 cents a share, in the year-ago period. Circuit City's loss from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the in the recent quarter totaled $11.4 million, or 6 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . Analysts surveyed by Thomson First Call had forecast a loss of 11 cents a share. The recent quarter included $500,000 in expenses related to last year's bank-card operation sale to FleetBoston Financial FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were given the Bank of America logo. . Those charges totaled $90.3 million in the prior year's second quarter. Carnival cruise firm sees record results MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. - Carnival Corp. & plc, the world's largest cruise company, reported Friday that higher ticket prices and onboard sales propelled third-quarter earnings up 40 percent to its best three-month results ever. The Miami-based company reported net income of $1.03 billion, or $1.23 a share, in the June to August period, compared with $734 million, or 90 cents a share, in the same period a year earlier. |
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