Iran sanctions 15 U.S. firms, citing human rights and Israel ties
DUBAI, March 26 Iran has imposed sanctions on 15 U.S. companies for alleged human rights violations and cooperating with Israel, the state news agency IRNA reported on Sunday.
* First-quarter net income $0.15/shr vs $0.62/shr last year
* Books loss from discontinued ops of $0.48/shr
* Revenue up about 2 pct at $3.74 billion (Adds CNA results, details about Loews results)
April 28 Hotel, energy and financial services conglomerate Loews Corp reported a 75 percent drop in quarterly profit as it booked a loss related to the pending sale of the annuity and pension deposit business of CNA Financial Corp.
Loews, controlled by the billionaire Tisch family, said first-quarter net income attributable to the company fell to $59 million, or 15 cents per share, from $242 million, or 62 cents per share, a year earlier.
The latest quarterly results included a loss from discontinued operations of $186 million, or 48 cents per share.
CNA, which is the largest subsidiary of Loews, said in February that it was selling its life and group insurance business for about $615 million as the returns from the business were low.
Loews' revenue rose about 2 percent to $3.74 billion, while net investment income fell nearly 4 percent to $577 million.
Separately, insurer CNA said net income fell to $13 million, or 5 cents per share, in the first quarter, from $250 million, or 93 cents per share, a year earlier.
Loews also controls Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors. The company reported a better-than-expected adjusted profit last week as it cut costs and secured higher rates for its upgraded fleet.
Loews' shares closed at $44.14 on the New York Stock Exchange on Friday. The stock has risen about 2 percent since the company last reported its quarterly earnings in February.
CNA shares, which have gained about 3 percent since reporting its previous quarter results, closed at $42.71 on Friday. (Reporting by Amrutha Gayathri in Bangalore; Editing by Maju Samuel)
LONDON, March 26 British interior minister Amber Rudd said on Sunday end-to-end encryption of messages offered by services like Whatsapp are "completely unacceptable" and there should be no "secret place for terrorists to communicate".