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BUSINESS
By BLOOMBERG NEWS | April 18, 1997
NEW YORK -- Bankers Trust New York Corp.'s first-quarter earnings rose 22 percent, as revenue from securities trading, derivatives and other businesses surged, the company reported yesterday.The nation's seventh largest bank said first-quarter net income rose to $169 million, or $1.89 a share, from $138 million, or $1.52, in the same period last year.The results exceeded analysts' expectations of $1.84 a share, according to a survey of 12 analysts by IBES International Inc. Bankers Trust shares rose 38 cents to $75.38.
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NEWS
By Lyle Denniston and Lyle Denniston,SUN NATIONAL STAFF | October 4, 1995
WASHINGTON -- A federal judge continued yesterday to restrict Business Week's right to publish a story about sealed court documents, but simultaneously made those papers public.Thus, a major constitutional battle over the First Amendment, already running longer than many such battles in the past, took on a bizarre but still serious character and seemed sure to remain in the courts for at least several more days.The unusual turn of events in a pair of rulings by U.S. District Judge John Feikens left the magazine and its competitors free to write about a new development in a major corporate legal fight but kept Business Week at least technically restrained.
NEWS
By Suzanne Loudermilk and Suzanne Loudermilk,SUN STAFF | May 28, 1998
A. B. "Buzzy" Krongard -- who recently traded in a career in high finance for the mystique of the Central Intelligence Agency -- urged Towson University graduates yesterday to strive for integrity and commitment in their lives."
BUSINESS
By Bloomberg Business News | February 16, 1994
NEW YORK -- Citicorp said the Federal Reserve and the Comptroller of the Currency have ended special regulatory oversight of the nation's largest banking company, possibly paving the way for Citicorp to restore its dividend.Citicorp said the regulators terminated a memorandum of understanding because Citicorp's financial condition is much improved from two years ago, when a mountain of bad loans forced closer supervision of the company's activities.The New York-based company suspended its 25-cents-a-share dividend in October 1991, saving about $96.6 million in dividend payments each quarter.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | April 26, 1997
Three weeks after it announced its plans to acquire Baltimore-based Alex. Brown Inc., Bankers Trust New York Corp. signed a definitive agreement yesterday to buy NationsBank Corp.'s $133 billion-asset institutional trust business.The deal will increase Bankers Trust's global assets under custody to nearly $2 trillion. Bankers Trust will gain 465 institutional customers, including corporations, nonprofit organizations, public agencies and union pension plans.Terms of the transaction were not released.
BUSINESS
November 24, 1994
Penril DataComm reports lossPenril DataComm Networks Inc. said yesterday that delays in shipping some of its electronic products contributed to a net loss of $974,000 on sales of $15.4 million in its fiscal first quarter, which ended Oct. 31.The performance was down significantly from last year's first quarter, in which the company earned $507,000 on sales of $18.5 million.Chairman Henry Epstein said the Gaithersburg-based company would be restructuring over the next several weeks and take a charge in the second quarter.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | July 22, 1997
Host Marriott Corp. rung up a 63 percent gain in earnings in the second quarter of 1997, thanks to the performance of its upscale hotels amid a continued nationwide demand for rooms and a lack of new construction, the company said yesterday.The Bethesda-based lodging owner's $174 million in earnings before interest expense, taxes and noncash charges -- a standard measure of financial viability for real estate owners -- dovetails with one of the biggest hotel booms of this century.Host Marriott's net income more than tripled in the quarter ended June 20 quarter to $26 million, or 13 cents per share.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | April 22, 1997
Alex. Brown Inc. will light up the exterior of its new 30-story headquarters tonight, becoming the latest downtown landmark to become aglow after dark.The investment firm's decision to illuminate the 1 South St. skyscraper comes roughly three months after it consolidated more than 900 employees from eight downtown offices to the $90 million office tower. Just several weeks ago, the investment bank recently agreed to merge with Bankers Trust New York Corp."We had originally planned to put the Alex.
BUSINESS
By BLOOMBERG NEWS | August 18, 2006
NEW YORK -- Former financier Martin Armstrong, who has spent six years in jail for defying a judge's order, pleaded guilty yesterday to federal charges that he conspired to defraud Japanese investors out of millions of dollars. Armstrong, the former money manager and founder of Princeton Economics International Ltd., faces up to five more years in prison after admitting that he lied to investors about losses incurred by his fund in commodities futures trades. "By falsely representing to investors that my trading performance was better than it actually was, what I was doing was wrong and improper," Armstrong, 57, told U.S. District Judge John Keenan in New York.
NEWS
April 8, 1997
BY ACQUIRING Alex. Brown Inc., one of the most honored names in the commercial history of Maryland, Bankers Trust New York Corp. is taking ownership of an exceptional investment house that has been raising venture capital since its founding in 1800. From the financing of the B&O as the nation's first railroad company in the 1820s to the underwriting of entrepreneurs of cyberspace, Alex. Brown has been a leader.Alex. Brown has been an immense benefit to its hometown. Only a few weeks ago, it moved into a downtown skyscraper that had been standing vacant since it was built on speculation.
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