British Airways/Iberia link reports a first benefit

LONDON - Group International Airline, which combines British Airways and Iberia of the Spain, reported a profit of euro33 million ($48 million) for the first three months of the year.

The company said Friday that the two airlines had a total loss of euro243 million a year, before the merger. Income increased 15% to euro3.63 billion pounds.

It was the first report of earnings for the company, launched on 21 January.

Chief Executive Willie Walsh, says the Group reduced controllable costs - except fuel - 5 percent.

The group says the number of passengers choosing services premium rose 12 percent from a year ago.

Shares in the company rose by 2.8% to 252.8 pence on the London Stock Exchange.

British Airways/Iberia link reports a first benefit

LONDON - Group International Airline, which combines British Airways and Iberia of the Spain, reported a profit of euro33 million ($48 million) for the first three months of the year.

The company said Friday that the two airlines had a total loss of euro243 million a year, before the merger. Income increased 15% to euro3.63 billion pounds.

It was the first report of earnings for the company, launched on 21 January.

Chief Executive Willie Walsh, says the Group reduced controllable costs - except fuel - 5 percent.

The group says the number of passengers choosing services premium rose 12 percent from a year ago.

Shares in the company rose by 2.8% to 252.8 pence on the London Stock Exchange.

Spanish bank BBVA reports Q1 profit down 7.3 pct

MADRID - Spanish bank BBVA, said Thursday that its first-quarter profits fell from 7.3% a climate of poor business on its domestic market to offset a net improvement to the Mexico.

The figure of profit for the second Bank of the Spain was euro1.15 billion ($1.71 billion), compared to euro1.24 billion in the first quarter of 2010. Despite the profit fall, the Bank said that first-quarter performance was the best in the last three quarters.

BBVA said the main reason behind the decline of the year on the other is a 33.3% of Spanish profits slide and euro477 million. Some comfort was provided by the Mexican profits rising to euro436 this year to euro347 million.

Alongside the Mexico, South America and Asia has helped also to increase the gross income of the group - in the neighbourhood of euro5.26 billion once again which was the highest in the last three quarters. However, net interest income, which is the difference between interest paid and interest received, was down 6.2% to euro3.18 billion.

"The resilience of our earnings is based on an adequate diversification and a model of commercial success", President Angel Cano of the BBVA said in a news release. "Emerging markets will continue to play a growing role of the income of the group."

The Bank also stated that its capital base ratio fell to 8.9% 9.6% for the quarter in 2010, after completing the purchase of a 25% stake in the Turkish Bank guaranteed in March.

The Bank said loans bad as a proportion of the global loan bank had plunged to 4.1 to 4.3% last year, adding that it was the fifth quarter in a row in which the unproductive active ratio remained in failure.

Spain is struggling to emerge from nearly two years of recession, who left the country with more than 21% of unemployment and a swollen deficit. In turn, the banks in the country have been affected by low demand for credit and increasing bad debts.

Prize of the action of the BBVA decreased by 1.5% to euro8.4 in the morning trade in Madrid.

ING reports rise in Q1 revenues, will reimburse State

AMSTERDAM - ING Groep NV reported Thursday first quarter profit increased by 12% on Bank fat margins and improvements to its insurance company and said that he intends to repay emission billion ($4.45 billion) cash rescue and sanctions against the Dutch state.

Net profit was euro1.38 billion ($2 billion), an increase of euro1.23 billion in the same period a year ago.

Banking, which will have to be separated from his arms of insurance as a sanction for having taken the support of the State during the financial crisis, increased 32% to euro1.7 billion.

As other banks now, ING margins are in good health that it pays customers little deposits and borrow cheaply itself but can lend or invest in higher rates. It also took less provisions for bad debts.

The ING Insurance gains has almost quadrupled to euro421 million on the best investment returns and more. The company plans between initial public offerings for its U.S. and Asian insurance operations and sell its smaller Latin American insurance business.

Shares increased by 2.8% in Amsterdam trade at the beginning to euro9.034.

Analyst for SNS securities that Lemer Salah indicated in a note on the remuneration that the best performance assurance of good augurs product when spin-off companies.

ING received State aid in billion euro10 at the financial crisis of 2008 and has also obtained the Dutch Government to agree to support the major part of its subprime mortgage portfoliolimiting the risks.

She gradually reimbursement of the aid, but after the last payment still owed the Netherlands emission billion more will be a penalty of euro1.5 when he reimburses.

ING said its Tier 1 Capital base ratio - the key measure of creditworthiness for banks - has increased by 10% after earnings, but it will fall back to 9.1% after upcoming refund, scheduled for May 13.

"The Bank and the insurance company posted strong results in the first quarter, showing progress on breeding programs of their respective performance as they prepare for their future as stand-alone companies," says CEO Jan Hommen in a statement.

ING plans to repay the rest of his money to rescue at the time of the next year, said, he has not set a date for the intellectual property of insurance offices. They will be produced when them "market conditions are favourable," he said.

Bank Australian NAB reports 16 pct profit rise (AP)

SYDNEY - National Bank of the Australia, one of the largest lenders in the country, has reported increased nearly 16 percent in net profits in the first half Thursday in the midst of a strong economy, less bad debts and an increase in loans to businesses.

Net profit for the six months to March 31 was 2.43 billion Australian dollars ($2.61 billion), compared to $ 2.1 billion in the same period last year, the Bank based in Melbourne, said in a news release. Cash earnings rose 21.7% to AU 2.67 billion.

"I think that, in General, we see still some positives in the economy," said CEO Cameron Clyne. "Unemployment is relatively low, and there is an early sign that firms seek to invest yet."

Clyne also credited the decision of the Bank to reduce bank fees and low interest rates, which helped attract customers away from other large banks of Australia.

"This result is a sign that there is some momentum in this strategy," he said.

Fresh for bad debts and doubtful fell 19.7% to AU 988 million in the same period a year ago.

The Bank declared an interim dividend of 84 cents per share, up cents 74 a year earlier.

Clyne said he only expected loans to companies to continue to strengthen by the end of the year.

Shares rose to $0.33 or 1.25%, 26.72 AU $ in exchange for early in the morning.

Reports total much higher 1st quarter earnings (AP)

PARIS - French oil giant Total SA that, said Friday its net profit increased by half in the first quarter by recovering economies and the unrest in the Middle East has pushed the price of a barrel of crude oil of the summits of three years.

Total said in a statement he made euro3.9 billion ($5.8 billion), in the first quarter instead of euro2.6 billion a year earlier, when the Brent oil price average only $76.40 per barrel. From January to March, he averaged $105.40 per barrel and has continued to rise since then and now at the head of $120.

Most large company by market capitalization France said that it pumped 2.3% less oil in the quarter, producing an average of 2.37 million barrels per day, 2.43 million a year earlier. The persistence of the violence in Libya, causing Total and other oil companies to halt production, caused a 0.5% decline in production.

Total earnings growth was matched by its competitors more large Exxon and Royal Dutch Shell, which reported profits booming for the period from Thursday.

The French company is committed to invest $ 20 billion this year, primarily to seek new development in oil, gas and renewable energy projects.

Total Thursday launched a bid to take control of the solar panels U.S. maker SunPower Corp., a deal that values the company San Jose, California at $ 2.3 billion.

Total also continuing acquisitions in a natural gas field in the Russia to the North and has recently concluded agreements in Uganda, Bolivia, China, and Argentina.

Total said "geopolitical tensions" and after the earthquake in the Japan "will shift the balance of global energy markets."

"Total confirms its strategy to invest to increase is the production of better respond to changes in energy demand and in the energy mix," Chief Executive Christophe de Margerie said in a statement.

Shares in the company fell by 0.3% in early trading on the Paris stock exchange at euro42.89.

Earnings Preview: Reports of Pfizer in the first quarter (AP)

Pfizer Inc., which makes results of the first quarter before the opening of the stock market Tuesday, probably will focus on a recent acquisition, promising data on some experimental drugs and efforts to improve its portfolio of business as CEO Ian Readwhich resumed in December.

WHAT TO WATCH for: Pfizer, the world largest drugmaker, is more in the firearm to find ways to maintain revenue and profits with the largest expiration month drug patent fair history. Lipitor, the Hunter of cholesterol from 12 billion dollars a year, loses U.S. patent protection on 30 November and already has a generic competition in some small markets.

Investors will be watching see if Pfizer maintains its revenue planned for 2012, when generic competition will eat Lipitor sales. Pfizer already reduced by $ 2.2 billion to approximately $ 64,25 billion and said that it will reduce the research of 2012 by $ 1.5 billion, or about $ 8.25 billion. This is a category where the level or an increase in funding is preferred.

Pfizer, the creator of the Viagra impotence pill and pain treatment Lyrica, is also injured by pressure on the pharmaceutical industry together: the weakness of the global economy, higher drug rebates required the redesign of the health of the U.S. and pricing pressure from European governments.

Probable executives will update their progress in the reduction of fees by their target of $ 4 billion to $ 5 billion per year since the purchase of Wyeth to 68 billion dollars in October 2009.

Analysts will look for updates on the progress made in reviewing the Pfizer and Wyeth research programs, products and companies to keep. Pfizer recently made a gesture expected, saying that he will sell his business for the manufacture of capsule of $ 2.4 billion. Pfizer plans to use to buy back shares and possibly perform certain transactions.

Last month, Pfizer bought King Pharmaceuticals Inc., which makes pain medications and other products of $ 3.6 billion. Last week, Pfizer has said that he will continue business increased in the huge Chinese market with its largest distributor, Shanghai Pharmaceutical Co. Ltd., including them stimulate the promotion of Prevnar.

This month, the Food and Drug Administration advisers recommended approving two drugs against cancer of Pfizer, Afinitor and Sutent, for treating Advanced Pancreatic Tumors and pancreatic tumors that cannot be removed surgically, respectively. SUTENT is approved for the treatment of tumors in four different bodies, but failed in the test against lung and prostate cancer.

Company executives cannot fail to discuss the three main experimental drug research news.

But Pfizer of the summer with problems elsewhere, including running within the time limits of regulators on other drugs.

WHY it is important: in the past few years, Pfizer repeatedly had promising experimental drugs fail in stages of tests, including what had been a drug successor awaited to Lipitor, despite research spending heavy. That and the poor company stock performance for the past four years, led to the Pfizer Board to evict the predecessor to Read.

Since the acquisition of Wyeth and furious cost-cutting increased temporarily the bottom line. But Pfizer needs to develop or buy rights to multiple big new drugs to resist expiration Lipitor patent.

What is expected: analysts surveyed by FactSet expect to benefit by action of 58 cents and revenues of Max billion.

QUARTER last year: a year ago, Pfizer posted benefit net per share of 25 cents, or 60 cents excluding restructuring costs and other and revenues of $ 16.75 billion.