CITIGROUP

Gary Shedlin, who was most recently chairman of Citigroup's investment banking effort for financial institutions, focusing on client relationships, is departing to join Morgan Stanley , Bloomberg said citing a person with knowledge of the matter.

U.S. regulators are encouraging public pension funds that control more than $2 trillion to inject capital directly into the banking system by buying failed lenders, Bloomberg said, citing people briefed on the matter.

Kraft Foods Inc is being investigated by U.K. regulators on whether the company misled employees and investors in its battle to take over British firm Cadbury.

AIG was closing in on a deal on Sunday to sell its foreign life insurance unit to MetLife Inc for about $15.5 billion in cash and stock, leaving it with a substantial minority stake in MetLife, sources familiar with the matter said.

AIG was closing in on a deal on Sunday to sell its foreign life insurance unit to MetLife Inc for more than $15 billion in cash and stock, leaving it with a substantial minority stake in MetLife, sources familiar with the matter said.

Citigroup Inc Chief Executive Vikram Pandit on Thursday voiced support for key Obama administration financial reform goals, including a consumer protection authority, but government watchdogs questioned his earnestness.

After digesting several economic data releases in the morning session, the U.S. stock market rallied to close at a modest gain.

The official supervising the government's bailout investment in Citigroup said Thursday that the government intends to sell its holdings in the bank in a responsible manner within the next year.

Citigroup chief executive Vikram Pandit on Thursday will endorse a key aspect of President Obama's financial reform proposal known as the Volcker Rule as he testifies before Congress on the financial bailout investments the bank has received.

Citigroup Inc Chief Executive Vikram Pandit said he supports an enhanced federal consumer protection authority because problems for consumers can affect the entire financial system.

Citigroup Inc Chief Executive Vikram Pandit said he supports a federal consumer protection authority, because a key lesson of the crisis is that issues influencing consumers can become issues for the whole financial system.

Bankrupt General Growth Properties Inc said on Wednesday it had opened its books to Simon Property Group and others, even as it sought court approval for more time for the exclusive right to file an exit plan.

Independent wealth management shops continue to lure clients away from the big U.S. brokerages, according to a survey by online brokerage giant Charles Schwab Corp .

In a Senate hearing on Tuesday titled Restoring Credit to Main Street, witnesses stated that the inability of small businesses to obtain financing is severely hindering job creation in the United States.

Britain's Prudential will buy American International Group's Asian life insurance arm for $35.5 billion in the insurance sector's biggest deal ever, helping the bailed-out U.S. group repay a big chunk of its taxpayer debt.

HSBC Holdings missed expectations with a $7 billion annual profit after bad debts rose and risked a public backlash by paying three investment bankers over 9 million pounds ($13.7 million) each.

Warren Buffett has said the hundreds of billions of dollars of taxpayer-funded bailouts of corporate America will eventually pay off.

For executives at Bank of America Corp and Citigroup Inc, it pays to be just below the top.

Citigroup Inc's board is reshuffling, with former AT&T and Xerox executives Michael Armstrong and Anne Mulcahy stepping down and former Mexican President Ernesto Zedillo in line to join.

Citigroup Inc's board is reshuffling, with former AT&T and Xerox executives Michael Armstrong and Anne Mulcahy stepping down and former Mexican President Ernesto Zedillo in line to join.

Shanghai Pudong Development Bank will raise about 40 billion yuan ($5.9 billion) by selling a roughly 20 percent strategic stake to China Mobile.