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From Daily Escape

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-	Eurozone finance ministers have agreed a second bailout for Greece after marathon talks in Brussels.	+	Blackberry manufacturer Research in Motion (RIM) has reported a quarterly loss, due in part to falling revenues on the back of weak smartphone shipments.
-	Greece is to receive loans worth more than 130bn euros (�110bn; $170bn).	+	The Canadian company made a net loss for the three months to 3 March of $125m (�78m), compared with a profit of $934m a year earlier.
-	In return, Greece will undertake to reduce its debts to 120.5% of its GDP by 2020 and accept an "enhanced and permanent" presence of EU monitors to oversee economic management.	+	Revenues fell to $4.2bn from $5.2bn.
-	Greece needs the funds to avoid bankruptcy on 20 March, when maturing loans must be repaid.	+	The firm also suggested it would refocus on the corporate market rather than on individual consumers.
-	After five straight years of recession, Greece's debt currently amounts to more than 160% of its Gross Domestic Product.	+	It also announced the resignation of former co-chief executive Jim Balsillie.
-	The euro immediately rose on reports of the deal, which was announced early on Tuesday, after 13 hours of talks.	+	Chief technology officer David Yacht will also be standing down.
-	Repayment takes priority	+
-	The deal also means that private holders of Greek debt will take losses of 53.5% on the value of their bonds.	+	Shares in the company fell as much as 9% in after-hours trading following the trading statement. They have fallen by 80% over the past year.
-	When all the elements of the exchange are accounted for, the loss to investors is expected to be as much as 70%.	+	Shipments of BlackBerry smartphones in the quarter fell to 11.1 million, down 21% from the previous three-month period.
-	Eurozone leaders and the IMF said in October that Greek debt should be reduced to a more sustainable level of 120% of GDP by 2020.	+	Shipments of the company's PlayBook tablets hit 500,000, largely due to substantial discounting.
-	Continue reading the main story	+
-	Analysis	+
-	image of Mark Lowen Mark Lowen BBC News, Athens	+
-	This is in effect uncharted territory for the eurozone - a managed Greek default, with over 50% of the country's private debt being written off. This was not even being considered as an option several months ago.	+	For the full financial year, the company made a net profit of $1.2bn, down from $3.4bn in the previous year.
-	But the Greek people will be sceptical about this bailout. The deal that has been agreed will mean more austerity and spending cuts, and even more pain for Greeks. Many will be concerned that the new measures will kill off prospects of growth and lock the country into a spiral of recession.	+	The results were worse than analysts had expected and RIM shares fell sharply in after-hours trading.
		+	Corporate focus
-	Greeks say that the country's middle classes who have worked hard and pay their taxes are, unfairly, bearing the brunt of a crisis they did not create. They feel Greece's notorious corrupt politicans and wealthy Greeks who evaded tax are to blame.	+	RIM has struggled to keep up with rivals in the smartphone market, such as Apple's iPhone and handsets running on Google's Android operating system.
-	The deal provides for the presence of EU monitors of Greece's economic management as some members doubt Greece's commitment to its spending pledges.	+	It has also struggled to gain a foothold in the tablet market.
-		+
-	Within the next two months, Greece will also have to pass legislation giving priority to debt repayments over the funding of government services.	+

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Revision as of 23:10, 30 January 2013

Blackberry manufacturer Research in Motion (RIM) has reported a quarterly loss, due in part to falling revenues on the back of weak smartphone shipments.

The Canadian company made a net loss for the three months to 3 March of $125m (�78m), compared with a profit of $934m a year earlier.

Revenues fell to $4.2bn from $5.2bn.

The firm also suggested it would refocus on the corporate market rather than on individual consumers.

It also announced the resignation of former co-chief executive Jim Balsillie.

Chief technology officer David Yacht will also be standing down.

Shares in the company fell as much as 9% in after-hours trading following the trading statement. They have fallen by 80% over the past year.

Shipments of BlackBerry smartphones in the quarter fell to 11.1 million, down 21% from the previous three-month period.

Shipments of the company's PlayBook tablets hit 500,000, largely due to substantial discounting.

For the full financial year, the company made a net profit of $1.2bn, down from $3.4bn in the previous year.

The results were worse than analysts had expected and RIM shares fell sharply in after-hours trading. Corporate focus

RIM has struggled to keep up with rivals in the smartphone market, such as Apple's iPhone and handsets running on Google's Android operating system.

It has also struggled to gain a foothold in the tablet market.