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Citigroup tests waters in preferred securities sale

Citigroup's launch of preferred securities on Wednesday is a potentially major test of market sentiment, one year after prices of bank bonds and stocks plunged to multi-year lows, analysts said.

Apollo to buy Citi Property Investors: report

U.S. private equity firm Apollo Management LP has agreed to buy Citigroup's real estate investment division, Bloomberg said, citing a person with knowledge of the deal.

Citi, AIG, other bailed-out firms jump

Shares in Citigroup Inc , one of the big financial companies bailed out by the U.S. government, rose more than 4 percent on Wednesday, while another, American International Group Inc , jumped 10 percent.

Stock futures point to flat open as M&A heats up

U.S. stock index futures pointed to a flat open on Wednesday as investors awaited January wholesale sales and inventory data and digested a slew of new corporate deals.

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Citigroup exec to join Morgan Stanley: report

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.

FDIC prodding pension funds to invest in failed banks: report

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 under probe over Cadbury deal in UK: report

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.

MetLife set to buy AIG's Alico unit: sources

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 to get MetLife stake in $15 billion unit sale

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.

Citi's Pandit blesses reforms amid watchdog doubts

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.

Afternoon rally sends stocks higher; financials lead

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

U.S. intends to sell Citi shares within next year

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.

Citi CEO to support key Volcker Rule limit

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.

Citi's Pandit supports strong consumer protection

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.

Citi's Pandit says supports consumer protection

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.

General Growth opens its books to suitors

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.

Independents still luring wirehouse clients: Schwab

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 .

Poor credit conditions for Main Street limits job creation: Senators

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.

UK's Pru to buy AIG Asia unit for $35.5 billion

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 profits dip

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.

Buffett: Bailouts not just for CEOs

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

Citi, BofA pay banking heads more than CEOs

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

Citi board; Armstrong, Mulcahy out, Zedillo in

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.

Citi rejigs board; Armstrong, Mulcahy out, Zedillo in

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.

Pudong Bank in $6 billion stake sale to China Mobile: reports

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

Hedge fund firm being probed on kickbacks: report

U.S. authorities are probing individuals close to NIR Group on whether the U.S. hedge fund firm paid kickbacks to outsiders to inflate the value of its holdings, the Wall Street Journal said, citing people familiar with the matter.

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