Second-Quarter and First-Half 2008 Highlights

Second-Quarter and First-Half 2008 Highlights

• Record first-half revenues in Rates and Currencies and third-highest quarterly revenues


• Record first-half and quarterly revenues in Global Markets Financing and Services, demonstrating double-digit growth, both year-on-year and sequentially


• Nearly 60 percent growth in Commodities quarterly revenues compared to the prior-year


• Strong Investment Banking revenues of more than $1 billion for the quarter, where the firm ranked No. 3 globally for debt and equity origination fees

merrill lynch nets loss

Today maryl lynch reported a net loss from continuing operations for the second quarter of 2008 of $4.6 billion, primarily due to the continued decline in value of mortgage-related assets and the deterioration in the credit quality of the monoline insurers.

ml have taken a number of steps to address this loss.

First, it completed the sale of our 20 percent ownership stake in Bloomberg, L.P. for $4.425 billion.

Second, it announced the expected sale of a majority stake in Financial Data Services. In aggregate, these deals are valued at approximately $8 billion.

Third, it have achieved significant reductions in many of our risk exposures.

Fourth, it increased our liquidity to a record $92 billion and exceeded our targets on cost-saving initiatives.

In spite of the difficult market conditions, ml delivered revenues of $7.5 billion before marks, credit valuation adjustments and fair value gains, up slightly from the first quarter.

Sunday, 13 July 2008

MotoGP

A quite lazy day, motor sports lovers do not miss, the Alice Motarrad Grand prix Deutschland at the famous Sachsenring Circuit where World Champion Casey Stoner broke the circuit record in qualifying on Friday, with a time quicker than the fastest MotoGP pole lap of the Sachsenring circuit.Last year's race winner and world championship winner Dani Pedrosa close behind his wheels its at second gonna be a interesting race.But fans of seven time world Valentino Rossi got only to wait and see if he can produce a unusual miracle.Tune into startssports at14:27hrs(IST)to watch this exciting race.For results and other news log ontoMotoGp official website.