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US Stocks Flat as Credit and Housing Woes Persist

US stocks were nearly flat in Mid-day trading on Monday, recovering after earlier losses following continued concerns over a weakening credit market and a worsening subprime mortgage situation.

Citigroup planning major job cuts-CNBC

Citigroup, the No. 1 U.S. bank by assets, is planning major job cuts over the coming months, CNBC television reported on Monday.

Wall St. lifted higher by retailers and banks

Stocks rebounded on Friday in an abbreviated session as the start of holiday shopping lifted retail stocks, while progress in a plan to relieve the credit market's strain aided bank shares. Shares of JPMorgan Chase, Bank of America and Citigroup all rose more than 2 percent. The three banks, spearheading an effort to establish a superfund to ease problems in the credit market, are expected to seek support from others in the industry.

Citigroup, Saxo Bank team up for Forex trading

Citigroup is teaming up with online bank Saxo Bank to launch a web-based foreign exchange trading platform called CitiFX Pro.

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Wall St slides on Citi

Stocks slid on Monday as a brokerage downgrade of Citigroup Inc sparked a sell-off in financial services companies on concerns about credit losses and the housing slump. Goldman Sachs cut Citigroup to sell and said the bank may have to write off $15 billion over the next two quarters as mortgage losses reduce earnings.

Wall Street falls as Citi drags financials

Stocks fell on Monday as a downgrade of Citigroup, the No. 1 U.S. bank, fueled a sell-off in shares of financial services companies on renewed worry about mounting credit losses.

SMFG H1 profit down 30 pct, keeps forecast

Sumitomo Mitsui Financial Group, Japan's third-largest bank, posted a 30 percent drop in April-September profit, hit by falls in the share price of consumer loan affiliates and losses on subprime investments, but it kept its full-year forecast unchanged.

Credit worries hit stocks and lift yen

World stock markets fell on Monday, with European shares slipping into losing territory for the year in another tremor over the credit crunch, while Japan's yen gained as investors cut back on their riskier holdings.

Citigroup faces $15 billion writeoff: Goldman Sachs

Goldman Sachs & Co analysts downgraded Citigroup to sell and said the largest U.S. bank may have to write off $15 billion for debt losses over the next two quarters, and it placed it on Americas Sell List. The report came after Citigroup's own chief strategist upgraded the nation's banking sector, calling selling pressure overdone.

Futures fall, Goldman downgrades Citigroup

Stock futures fell on Monday after Goldman Sachs added Citigroup Inc to its sell list, citing prospects for more credit losses at the No. 1 U.S. bank.

Citigroup replaces chief risk officer, Jorge Bermudez appointed

Citigroup Inc. appointed a new Chief Risk Officer on Friday amid speculation that bank write-downs due to mortgage-related investments may lead to the companyâ€™s first quarterly loss.

US STOCKS-Tech, energy push Wall Street to strong close

NEW YORK, Nov 16 (Reuters) - U.S. stocks rose on Friday after a day of sharp price swings, helping the S&P 500 narrowly avert a third straight week of losses as bargain-hunting lifted the beaten-down technology sector while shares of oil companies advanced on buoyant crude prices.

Lifting the Lid: Were banks' writedowns too little, too late?

With multibillion dollar subprime market losses, investors are asking questions.

Dollar up against euro, falls versus yen on credit fears, falling stocks

The dollar strengthened against the euro but fell against the yen on Thursday amid continuing fears in credit markets and falling stocks.

Wall Street drops as credit angst rises

Stocks declined further in a skittish session on Thursday as investors fretted about the likelihood of more credit losses at big financial services companies. Caution also weighed on the market following an upsurge in volatility that has tended to rock stocks around the close of trading in recent days.

Citibank to mull holding firm launch in S.Korea

Citibank will aggressively consider launching a holding company in South Korea, in line with revised local laws, and will expand distribution channels to grow its market share, the head of its Korean unit said on Thursday.

Citi and Nikko alter stock swap contract

Citigroup Inc and Japanese brokerage Nikko Cordial said on Wednesday they have altered clauses in a stock-swap deal to make Nikko a wholly-owned unit in the wake of a recent slide in Citigroup's share price.

E*Trade shares rebound as CEO cancels presentation

Shares of E*Trade Financial Corp rebounded on Tuesday as investor fears eased a day after an analyst said mounting credit losses of the online banking and brokerage company could put it at risk of bankruptcy.

Bank of America sees $3 billion debt write-down

Bank of America Corp, the second-largest U.S. bank, said on Tuesday it expects to write down $3 billion of debt in the fourth quarter as fallout from the nation's housing slump deepens.

Bank of America sees $3 billion loss on CDOs

Bank of America Corp, the second-largest U.S. bank, said on Tuesday it has suffered a $3 billion loss stemming from its exposure to collateralized debt obligations. The pretax loss would be reflected in fourth-quarter results, and could grow if market conditions worsen, according the Merrill Lynch Chief Financial Officer Joe Price.

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