"The Dark Knight Rises" managed to hold on to the top slot on the North America box office this weekend, reaping an estimated 64 million U.S. dollars in estimated ticket sales from 4,404 locations in the United States and Canada, according to the latest statistics released by Warner Bros. on Sunday. The epic, which is the latest installment on director Christopher Nolan's Batman franchise, is poised to sell a total of 289 million U.S. dollars in movie tickets during 10 days in screening. The film's second-weekend box office receipt went down 60 percent from its opening weekend, a worse performance than "The Dark Knight," the last film of the series which hit the screen in 2008. That film saw only a 53 percent fall-off for its sophomore frame. "Ice Age: Continental Drift," a Twentieth Century Fox's family- friendly animated 3-D film held its second-place slot into another weekend, banking 13.3 million U.S. dollars. Its three-weekend total is close to 115 million U.S. dollars. "The … [Read more...] about “The Dark Knight Rises” rules N. America box office for 2nd weekend
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Liam Neeson's latest vehicle "The Grey" led a pack of three debuts as they opened among the top 10 most-popular films in North America over the weekend, all with impressive performances. "The Grey" is projected by distributor Open Road Films to take in 20 million U.S. dollars in ticket sales over Friday-Sunday period, which turned out to be much higher than what the industry watchers have expected. The action thriller, directed by Joe Carnahan and starring Neeson and Dermot Mulroney, raked in 6.5 million dollars when it hit the screen at 3,185 venues on Friday, well ahead of two other debuts -- Lionsgate's "One for the Money" and Summit's "Man on a Ledge." The R-rated thriller, which is Open Road Films' second release after 2011 action-thriller "Killer Elite," deals with an oil drilling team, led by Neeson, that finds itself hunted by a pack of wolves after their airplane crashes, stranding them in the wilds of Alaska. The film received a "B-" CinemaScore. It costs 25 million … [Read more...] about “The Grey” leads weekend North America box office
Federal Reserve Chair Janet Yellen and her international counterparts are suffering from a case of what psychologists call confirmation bias: They keep insisting inflation will accelerate even as it continues to ebb. That's the diagnosis of Ethan Harris, co-head of global economics research at Bank of America Corp. in New York. He says central bankers are seeing what they want to see by blaming subpar inflation in their countries on temporary, partly home-grown forces. That risks ignoring more lasting, global influences ranging from weak worldwide demand and more emerging-market competition to cheap labor in developing nations, cooling commodity prices and technological breakthroughs. "There is much lower-than-expected inflation showing up in too many places in the world to dismiss it as transitory," said Allen Sinai, chief executive officer at consultant Decision Economics Inc. in New York. Almost two-thirds of the 121 economies tracked by Bloomberg are experiencing smaller gains … [Read more...] about Central banks see what they want in ignoring deflation
by Thien Ly Most commercial banks have posted lower than expected pre-tax profits in the first quarter of this year. Ly Xuan Hai, general director of the Asia Commercial Joint Stock Bank (ACB) said the VND560 billion (US$29.5 million) in pre-tax profits recorded in the first quarter fell short of the average required to meet the annual target. ACB has set a target of VND3.6 trillion in pre-tax profits in 2010. To realise this, it needs pre-tax profits of VND600 billion to 700 billion per quarter. The Great Trust Commercial Joint Stock Bank (Trust Bank) made just VND16.6 billion in pre-tax profits in the first three months. The bank's chairman, Hoang Van Toan, said that at such profit levels, the Trust Bank would find it difficult to realise its annual target of VND190 billion. For the Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank), pre-tax profits of VND510 billion by March marked a year-on-year increase of 40 per cent. Although this was a significant increase, it was still … [Read more...] about Banks post modest first-quarter profits
NEW YORK - Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $45 million ATM heist face an uncertain path in trying to recover their losses, financial, insurance and legal experts say. Oman-based Bank of Muscat lost $40 million and United Arab Emirates-based National Bank of Ras Al Khaimah PSC (RAKBANK) lost $5 million in the global heist, U.S. prosecutors said on Thursday. Hackers gained access through third-party companies that processed transactions for prepaid debit cards issued by the banks, the prosecutors said. While details of what happened are still sketchy, experts said the banks could bring claims against the processing companies in court, or they could file claims with their own and the processing companies' insurers. "There's no hard and fast rule," said Dan Karson, the Americas chairman of Kroll Advisory Solutions. "We're in very much a new cybersphere of finance, and allocating liability is still very much … [Read more...] about For banks in cyber heist, how to get their money back?