Learning the lessons

Companies have been quick to increase their risk disclosures following the corporate accounting scandals that have plagued the US. But information about the success of their hedging strategies is still limited.

Companies in the second quarter primarily blamed exposures to commodity prices, currency fluctuations and the weather for falling revenues, sales and margins.

Energy companies complained that low oil prices hampered their second-quarter results. The Brent crude oil spot price fell to a lo