write-off

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write-off

Informal something damaged beyond repair, esp a car
References in periodicals archive ?
The bank said that it has lost billions in the fourth quarter because of a massive charge associated with a writedown of some investment banking operations.
By saying that "this does not reflect the reality of the company," he suggested the assessment was too high, a comment unlikely to calm investors concerned that the government appointed him to limit the political fallout from a writedown rather than clean out dead-wood in the company's accounts.
Rio Tinto posted a $14 billion writedown in January on previous acquisitions of aluminium assets from Alcan in 2007 and coal projects in Mozambique.
Newcrest which has also been alleged of tipping off analysts in the lead up to these latest results, blamed the large falls in the price of gold this year and subsequent drops in valuations for the asset writedowns.
Germany declined on Friday to rule out a writedown of Cypriot sovereign debt, saying instead that all options should be looked at to bring the Mediterranean island's debt down to sustainable levels.
6 billion euros of writedowns, including on investments in Greece, Italy and Spain.
5% decline in net loan writedowns and provisions to EUR1.
Shuaa Capital doesn't expect major investment writedowns in the fourth quarter of 2011 and later in 2012, its chairman said.
Newcastle-based Bellway had seen profits tumble after big writedowns when the property market convulsed under the pressure of the credit crunch and recession.
Despite the massive writedowns, it said was building a comfortable capital cushion and sales of assets were going as planned, although tough financial and economic conditions would continue.
THE Royal Bank of Scotland today unveiled the biggest loss in British banking history after suffering writedowns of pounds 5.
ROYAL Bank of Scotland today unveiled its first loss in 40 years as a public company after suffering writedowns of pounds 5.