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AT&T takes USD 10 bln pensions charge, sees margin pressure
2013-01-18 09:01:00| Telecompaper Headlines
(Telecompaper) AT&T announced that it will take a USD 10 billion charge in the fourth quarter 2012 for its pensions obligations. The non-cash, pre-tax charge results from a reduction in the assumed discount rate to 4.3 percent, resulting in an actuarial loss of approximately USD 12.0 billion. This was partially offset by an asset gain of USD 1.9 billion. Due to the continued uncertainty in the securities markets and US economy, the operator lowered its expected long-term rate of return on asset assumption to 7.75 percent. In a SEC filing, the US operator also reported fourth-quarter smartphone sales of approximately 10.2 million devices. Due to the high subsidies on these devices, AT&T said it expects pressure on operating income, margins, and earnings per share in the fourth quarter of 2012. In addition, storms, including Superstorm Sandy, are expected to reduce Q4 operating profit by around USD 175 million, impacting especially the Wireless division. AT&T will report full quarterly results on 24 January.
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AT&T faces $10 billion pension charge, other costs
2013-01-18 03:43:17| Telecom - Topix.net
AT&T Inc warned on Thursday that it will take a fourth quarter charge of about $10 billion due to bigger than expected pension obligations, sending its shares down 1.3 percent.
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AT&T takes $10bn pensions charge
2013-01-18 01:23:46| BBC News | Business | UK Edition
US telecoms giant AT&T will put aside $10bn (6.25bn) in the fourth quarter to cover pension fund losses due to lower-than-expected interest rates.
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AT&T to record $10 billion pension charge in Q4
2013-01-18 01:00:00| Total Telecom industry news
U.S. telco follows in rival Verizon's footsteps in announcing pensions, hurricane impact on quarterly numbers.
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Kia's rising star Schreyer to take charge of Hyundai group car design
2013-01-13 11:19:59| Automakers - Topix.net
German designer Peter Schreyer, known as the creative brain behind the Audi TT, will oversee both Kia and Hyundai's designs, the Hyundai automotive group said on Sunday, as the carmaker seeks to outdo German rivals Volkswagen and BMW.
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