Business articles

Royal Bank of Scotland rebounds into slender Q1 profit

Britain’s bailed-out Royal Bank of Scotland rebounded into a first-quarter profit on cost-cutting, it said Friday, but the year-earlier loss was skewed by a vast exceptional payment to the government.

UBS books ‘very strong’ first quarter

Swiss banking giant UBS said Friday that it booked “very strong first-quarter results”, driven largely by its investment banking and wealth management activities.

Sony sees net profit more than tripling in current year

Sony said Friday it expects net profit in the current fiscal year to more than triple owing mainly to gains in its smartphone component business, while the PlayStation console division also boosted its fortunes.

Ex-Olympus bosses ordered to pay $529 mn over fraud

A group of sacked Olympus executives have been ordered to pay more than half a billion dollars in damages for a massive accounting fraud that badly damaged Japan’s corporate governance image.