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Citigroup hires former commerce secretary

Citigroup Inc said Carlos Gutierrez, former Commerce Secretary under President George W. Bush, will join the bank as vice chairman for its institutional clients group, the bank said on Friday.
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General Motors Vice Chairman Tom Stephens speaks in Baltimore, Maryland

GM's IPO could be the world's largest

General Motors Co is inching closer towards returning to the U.S. market in one of the biggest IPOs in the U.S. history and could even become the world's largest.
Paulson testifies before a US House Oversight and Government Reform Committee hearing on the regulation of hedge funds, on Capitol Hill in Washington

Paulson reduces exposure to financial holdings

Paulson & Co., the hedge fund managed by John Paulson, reduced its positions in key financial holdings Bank of America Corp. (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC) and Citigroup Inc. (NYSE: C) in the third quarter
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Macquarie cuts jobs after profit warning -paper

Macquarie Group begun cutting jobs late on Monday after warning of a 25 percent drop in first-half earnings amid weak markets, The Australian newspaper reported on its website on Tuesday, citing unnamed fund managers.
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Citi creates global family wealth unit: memo

Citigroup's private banking arm has set up a global unit to target family offices, organizations that manage the financial affairs of rich dynasties, according to an internal memo seen by Reuters.
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Wall St falls as economy worries persist

Stocks fell on Monday as a statement from President Barack Obama fell short of addressing worries the recovery is faltering, while investors looked ahead with caution to important economic data coming this week.
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Wall Street edges lower

Stocks dipped on Monday as confidence about the economy sagged and investors were cautious ahead of several key reports coming this week.
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Citi-backed personal finance site adds tools

Bundle.com, an online personal finance site that counts Citigroup Inc among its backers, is unveiling new features to compete in a growing market for Internet banking and budgeting advice, its chief executive said on Thursday.
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GM files for IPO and plans dual listing

General Motors Co took a big step toward repaying a controversial taxpayer-funded bailout by declaring plans for a landmark stock offering that represents a critical test for the Obama administration.
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U.S. credit card losses fall more than expected

Fewer Americans fell behind on their credit card payments than expected in July, as consumers coped better with their debt, but the drop in delinquencies to their lowest levels so far this year doesn't suggest a recovery in spending, analysts said.
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Citi to raise more long-term debt in 2010

Citigroup Inc raised its estimates and now expects to issue $18 billion to $21 billion in long-term debt in 2010, the company said in a regulatory filing on Friday.

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