Saudi billionaire Prince Alwaleed bin Talal, head of Kingdom Holding and shareholder in Citigroup , said the U.S. bank had put the worst behind it and was now on the right path.
Saudi billionaire Prince Alwaleed bin Talal, head of Kingdom Holding and shareholder in Citigroup , said the U.S. bank had put the worst behind it and was now on the right path.
Bank of America Corp will pay its investment bankers bonuses close to the levels of 2007, as it tries to reduce defections following its takeover of Merrill Lynch & Co., the Wall Street Journal said late Thursday.
Wall Street expects Alcoa Inc to post a small fourth-quarter profit, but optimism is tempered by concern over aluminum prices and how much the auto and aerospace industries rebounded from the recession.
A former senior executive at Citigroup Inc has decided to take legal action against the company to force it to resume paying his multi-million dollar severance package that has been frozen for six months, the Financial Times said, citing people close to the situation.
Colorful dealmaker Robert Friedland, who made a fortune selling an undeveloped Canadian nickel deposit, is seeking new options for his current venture, Ivanhoe Mines , as it starts building a massive copper-gold mine near Mongolia's border with resource-hungry China.
Sumitomo Mitsui Financial Group (8316.T) said it would raise up to $9.7 billion in a share sale to meet stricter global banking regulations and expand overseas.
Former Citigroup Chief Executive Sanford Weill blamed the bank's problems on personnel decisions and faulted his successor, Chuck Prince, for letting its balance sheet balloon and taking on large risks, according to the New York Times, citing a series of recent interviews.
Digital Realty Trust Inc (DLR.N) said it, along with its operating partnership Digital Realty Trust L.P., plans to raise up to $400 million through sale of its common shares.
The U.S. is injecting another $3.8 billion into GMAC Financial Services to help cover mortgage losses, in a bailout that makes the government the majority owner of the auto and home finance company.
GMAC Financial Services is expected to get about $3.5 billion of additional U.S. government aid to help the troubled lender absorb mortgage losses, a financial industry source familiar with the matter said on Wednesday.
Short interest on the New York Stock Exchange rose 2.7 percent in first half of December, the exchange said in a release late Thursday. As of December 15, short interest rose to about 13.53 billion shares, compared to 13.18 billion shares as of November 30.
Banks probed on risky securities; Citi's payback; Most pirated film of '09
Citigroup Inc repaid $20 billion to the United States, as the bank works to reduce government involvement in its compensation practices.
Wells Fargo & Co and Citigroup Inc repaid a total of $45 billion to the United States on Wednesday, as major banks look to reduce government influence over their affairs.
Small and mid-sized U.S. banks can hold off on repaying funds under the Treasury's Troubled Assets Relief Program, as they may escape government pressure to raise capital and face less taxpayer scrutiny over compensation practices.
Wells Fargo & Co , the fourth-largest U.S. bank by assets, on Wednesday said it repaid the $25 billion government bailout it received during the financial crisis, after last week selling $12.25 billion in stock.
The Federal Bureau of Investigation is probing a computer hacking that targeted Citigroup Inc and resulted in the theft of tens of millions of dollars, The Wall Street Journal reported on Tuesday, but the financial institution denied its systems had been breached.
The Federal Bureau of Investigation is investigating a computer security breach targeting Citibank in which a gang of Russian hackers stole tens of millions of dollars, the Wall Street Journal reported.
The U.S. Federal Bureau of Investigation is probing a computer hacking that targeted Citigroup Inc and resulted in the theft of tens of million of dollars, The Wall Street Journal said, citing U.S. government officials.
Inflation's Breathing Room; Innocent Pleas in Galleon Case;Storm May be Costly
U.S. pay czar Kenneth Feinberg yielded on Monday to pleas from American International Group to modify terms for a top employee the embattled insurer said was vital to its regaining stability.
