Salomon Inc.’s 1988 net income jumped 97%...

Salomon Inc.’s 1988 net income jumped 97% to $280 million. Revenue rose 3% to $6.15 billion. The New York-based holding company said the results came despite lackluster global stock market trading and include a record performance by its energy business. For the fourth quarter, the firm had a loss of $38 million on revenue of $1.81 billion, after a previously announced $180-million income tax provision related to its decision to redeploy $1.1 billion of foreign earnings into the United States. In the year-ago quarter, it posted a $74-million loss on revenue of $1.33 billion.