Carolina Credit Mortgage North

Wachovia's Net Rises on Acquisitions, Investment Bank (Update5)

July 20 (Bloomberg) -- Wachovia Corp., the fourth-largest U.S. bank, said profit rose 14 percent to a record in the second quarter on acquisitions and higher investment-banking fees.

Net income climbed to $1.89 billion, or $1.17 a share, from $1.65 billion, or $1.04, a year earlier, the Charlotte, North Carolina-based company said today in a statement. Revenue rose 14 percent to $7.26 billion.

Chief Executive Officer Kennedy Thompson, who in May announced a $26 billion deal for California's Golden West Financial Corp., boosted profits through the purchases of Westcorp and AmNet Mortgages Inc., which provide car loans and mortgages to borrowers with poor credit histories. Trading and investment banking picked up from the same period last year, even as stock markets sputtered in May and June.

Barclays Global Investors Adds to Top Research Staff

SAN FRANCISCO, CA and LONDON -- (MARKET WIRE) -- August 08, 2006 -- Barclays Global Investors (BGI), one of the world's largest asset managers (1), today announced the appointments of leading academic and industry experts who have joined its extensive global research staff. BGI has built one of the largest scientific research organizations in asset management, with an annual commitment to research of over $120 million.

Paul Harrison has joined as Research Officer, where he will focus on sovereign bond research. Mr. Harrison comes to BGI from the Board of Governors of the Federal Reserve System, where he was Chief, Capital Markets Section. Harrison has focused his current research on the impact of US companies' investment in human capital on stock prices, timing of debt issuance and rating migrations, and value destruction in multinational operations.

Interstate Hotels & Resorts Q2 Earnings Raise On Higher Revenues ...

(RTTNews) - Tuesday, Interstate Hotels & Resorts (IHR | charts | news | PowerRating), a hotel management company in the United States, reported increase in earnings on higher revenues for the second quarter. The company also raised its full-year earnings guidance and provides third quarter earnings forecast.

For the quarter, the company reported net income of $3.0 million or $0.10 per share, compared to $1.7 million or $0.06 per share in the same quarter last year. In the quarter, adjusted net income was $3.1 million or $0.10 per share, compared to $2.6 million or $0.09 per share in the comparable quarter previous year. Analysts polled by First Call/Thomson Financial expected the company to earn $0.05 per share for the quarter.

The company's revenue for the quarter was $59.8 million, up from $54.2 million in the corresponding quarter prior year.

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