The company previously reported a year-ago second quarter net loss of $336.5 million.

But this slumped to a third quarter loss of £126 million.

The bank expects a fourth- quarter loss of $54.4 million.

British Gas reported a 9.5% increase in third quarter losses before tax to £282m.

On October 16, Enron announced a third quarter loss of $618 million.

This increased the year earlier fourth quarter loss by $328,000.

The company said the latest third quarter loss is after a tax credit of $2,900,000.

The previous quarter loss was $14.3 million even after selling assets such as the corporate jet.

Subsequent appearances in the national level playoffs ended with quarter final losses.

Of the fourth- quarter loss, close to $20 million may have been from trading losses, since that is the company's main business.