JAL profits boosted by cost cuts

Aozora Bank Ltd. has reported its financial results for its fiscal year including net income of 46.3bn, a rise of 13.5bn yen (41.1%) from the previous year. The firm also reported annual consolidated net revenue of 84.3bn yen, up 6.4bn yen/8.2% compared to the preceding year. These results surpassed the firm’s full-year forecasts (which were [...]

The Bank of England reported a £300m fall in total net lending by banks and building societies taking part in the Government’s flagship Funding for Lending Scheme (FLS) in the first quarter, following a net decline of £2.4bn in the final three months of 2012, reports The Telegraph.

(Reuters) - Before Kazuo Inamori, founder of ele

Japan Airlines' first-quarter profits more-than-double as it cuts costs and the strength of the yen boosts demand for international travel.

Japan Airlines, the flag-carrier that went bust in one of the nation's biggest-ever bankruptcies, is aiming to re-list its shares by September, the Nikkei business daily reported Friday.The airline, whose shares were delisted in February 2010, will file an application with the Tokyo Stock Exchange this month with plans to have its stock publicly traded again on September 19, the report said.JAL went bankrupt in January 2010 with debts totalling 2.32 trillion yen ($29 billion), but it continued flying during an overhaul that included massive cuts to jobs and routes.

British supermarket giant Tesco on Wednesday posted rising annual net profits, boosted by rising global sales, adding it will invest £1.0 billion to revamp its struggling domestic operations.Earnings after taxation hit £2.80 billion ($4.47 billion, 3.40 billion euros) in the 12 months to February 25, compared with £2.66 billion in the group's previous financial year, Tesco said in a results statement.The figure was slightly higher than market expectations for a net profit of £2.78 billion pounds, according to analysts polled by Dow Jones Newswires.

Japan Airlines was offered a billion-dollar financial lifeline Wednesday from Delta Air Lines and its SkyTeam alliance partners, as Tokyo refused to rule out allowing the carrier going bankrupt.Delta said the rescue package on the table included a 500-million-dollar equity injection, a revenue guarantee worth 300 million dollars and 200 million dollars in asset-backed funding.The US carrier is seeking to lure JAL away from the rival Oneworld airline grouping and American Airlines, which is also seeking a tie-up with JAL, eyeing its lucrative Asian landing slots.