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AT&T takes USD 10 bln pensions charge, sees margin pressure
2013-01-18 09:01:00| Telecompaper Headlines
(Telecompaper) AT&T announced that it will take a USD 10 billion charge in the fourth quarter 2012 for its pensions obligations. The non-cash, pre-tax charge results from a reduction in the assumed discount rate to 4.3 percent, resulting in an actuarial loss of approximately USD 12.0 billion. This was partially offset by an asset gain of USD 1.9 billion. Due to the continued uncertainty in the securities markets and US economy, the operator lowered its expected long-term rate of return on asset assumption to 7.75 percent. In a SEC filing, the US operator also reported fourth-quarter smartphone sales of approximately 10.2 million devices. Due to the high subsidies on these devices, AT&T said it expects pressure on operating income, margins, and earnings per share in the fourth quarter of 2012. In addition, storms, including Superstorm Sandy, are expected to reduce Q4 operating profit by around USD 175 million, impacting especially the Wireless division. AT&T will report full quarterly results on 24 January.
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United Continental sees fourth-quarter charges
2013-01-18 06:36:30| Airlines - Topix.net
United Continental Holdings , the world's largest air carrier, said on Thursday it expects fourth-quarter charges of $430 million, much of which is tied to paying off its pension debt.
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Tennent's sees sales volumes fall
2013-01-16 10:26:57| BBC News | Business | UK Edition
The drinks brand, C&C Group, says sales volumes of its Tennent's brand fell in the UK, but earnings held up.
Gov. Rick Snyder sees 'resurgent industry' at 2013 Detroit auto show
2013-01-16 06:43:25| Automakers - Topix.net
Gov. Snyder touts 'long term opportunity' in Michi...: Gov. Rick Synder talks autos, Pure Michigan ad and the State of the State while sitting down with the Free Press during the North American International Auto Show.
See's Candies to open in the Fashion Mall
2013-01-16 05:23:29| Food - Topix.net
See's Candies, founded in 1929 by California candymaker Mary See, has long been a favorite of candy connoisseurs.
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