I.B.M. Division Headed to China Has Made No Profit in 3 1/2 Years
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I.B.M. said that the personal computer business it was selling to the Lenovo Group of China had not made a profit for three and a half years.
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The company has signalled profits of between Â£285 million and Â£295 million, down on Â£311 million a year ago, following a poor run of sales.
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The investment bank said 3rd-quarter profit fell to $1.54 billion, hurt by a global credit crisis that cut into stock trading, corporate lending, and results from investments.
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Australian financial services firm City Pacific Ltd  dropped its A$1.3 billion ($1.1 billion) plan to buy the management business of rival MFS Ltd  after financing worries saw MFS shares' plunge.
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The easy growth is gone. It's going to get very competitive from here.
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Marginised success RM posted its annual reults today, showing the firm had grown profits on the back of flat revenue figures.â¦
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Diversified manufacturer 3M Co.   posted a weaker-than-expected quarterly profit on Tuesday and  said global economic growth was slowing, sending its shares  down 4.7 percent and weighing heavily on blue chip stocks  overall.
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The company's strong operations don't excite the market.
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The InterContinental Hotels Group on Tuesday said that net profit almost halved last year to 231 million pounds.
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Problems in the banking sector hit I.B.M.âs earnings as financial services companies pulled back from buying mainframe computers and large software packages.
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The plans to cut 3,000 jobs followed a terrible third quarter in which the investment banking unitâs profit dropped 93 percent after virtually every area performed poorly.
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Third-quarter profit fell 1 percent, as stronger sales of almost all of the companyâs key drugs could not offset higher production costs and taxes and a restructuring charge.
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I.B.M. has been reorganized from a classic multinational company to become a more seamless global enterprise.
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The company said its net loss in the fiscal third quarter ended Dec. 1 was $84.8 million, or 12 cents a share, compared with a net profit of $1.1 million.
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In a preliminary report, I.B.M. said its fourth-quarter earnings from continuing operations rose 24 percent from a year ago, beating Wall Street expectations by a wide margin.
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The9 looks to grow in China, but its earnings are going the wrong way.
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The bankâs net income slid to $942 million, or 53 cents a share, from $1.19 billion, or 66 cents a share, in the period a year ago.