Citigroup suffers thirdquarter loss fuelled by consumer debt

By James Quinn, US Business Editor

Published: 9:34PM BST 15 Oct 2009

The bank – which has made more than $100bn (£61.5bn) of write-downs since the
financial crisis began – announced a pre-tax loss of $529m for the three
months to the end of September, after reporting a $5.3bn profit in the
second quarter.

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IHG maintains dividend as profits slump 38%

InterContinental Hotels Group (IHG), the world’s biggest hotel company by
number of rooms, today reported a 38 per cent slump in first-half profits
but claimed that it was outperforming the competition and winning market
share.

The group, which owns such brands as Holiday Inn, Crowne Plaza and Indigo,
said that although there was still “poor visibility” on forward
bookings, it had seen no further deterioration in demand and had seen a jump
in leisure business in July.

Asked whether the bottom of the market had been reached, Richard Solomons,
chief financial officer and head of commercial development, said it was “too
early to say”.

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Dell sees quarterly profits slip

US computer maker Dell has seen its quarterly profits slip 5%, as customers worldwide bought fewer computers.

Dells profits in the third quarter were $727m (£492.3m), down from $766m in the same period last year. Read more