Citigroup Inc shares fell to their lowest level in four months on Thursday, a day after the bank's $20 billion stock and bond offering drew a cool reception on Wall Street and prompted the U.S. Treasury to delay plans to start selling off its Citi holdings.
Citigroup Inc shares fell sharply on Thursday, a day after the bank's $20 billion stock and bond offering drew a cool reception on Wall Street and prompted the U.S. Treasury to delay plans to start selling off its Citi holdings.
The Treasury will sell its stock in Citigroup to achieve the best possible price for the American public, the head of the government's financial bailout program said on Thursday.
U.S. stocks fell on Thursday as a rebound in the dollar dampened appetite for risk, while a FedEx forecast weighed on transportation shares and a prominent analyst cut estimates for two major banks, compounding losses for financials shares.
U.S. stocks fell on Thursday as the dollar rebounded, diminishing the appetite for risky assets, while FedEx forecast profits below estimates and Citigroup got a cool reception for its stock offering.
Stock index futures fell on Thursday, indicating a weaker start for Wall Street. Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq Composite were down 0.3 to 0.4 percent by 0944 GMT (4:55 a.m. EST).
The U.S. Treasury delayed a plan to sell its $5 billion of Citigroup Inc shares after a stock offering by the bank attracted weak demand and priced at a much lower-than-expected $3.15 a share.
Bailed-out U.S. insurer American International Group plans to file a prospectus for a multibillion-dollar IPO of its Asian life insurance unit before Christmas, the Financial Times reported on Thursday.
The Treasury delayed a plan to sell $5 billion of Citigroup Inc shares after a stock offering by the bank attracted weak demand and priced at a much lower-than-expected $3.15 a share.
The U.S. Treasury delayed a plan to sell $5 billion of Citigroup Inc shares after a stock offering by the bank attracted weak demand and priced at a much lower-than-expected $3.15 a share.
Citigroup Inc is selling shares at $3.15 apiece, far less than the $3.25 price at which the government bought them earlier this year, and the United States has decided not to sell shares, people briefed on the matter told Reuters.
Shares of the latest initial public offering backed by private equity firm Blackstone Group (BX.N) rose nearly 7 percent in their New York Stock Exchange debut after an initally cool reception.
Citigroup Inc said on Tuesday the Abu Dhabi Investment Authority filed an arbitration claim against it, accusing the U.S. lender of misrepresentation over a $7.5 billion investment by the sovereign wealth fund.
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Stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500 up 0.2 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures down 0.2 percent at 0841 GMT (3:41 a.m. EST).
The U.S. government quietly agreed not to collect billions of dollars in potential taxes from Citigroup Inc as part of its deal to allow the bank to repay its taxpayer bailout, The Washington Post reported.
So Shooters, today's big news: Citigroup to pay back $20 billion in TARP to government. Why stop so soon the magic IV drip known as TARP funding (which had just been so graciously extended by Treasury)? Well, it's not because the company is back in good health. They just want to keep ahead of the talent-poaching with the zombies doing jumping jacks - the likes of Goldman Sachs.
Wells Fargo & Co sold $10.65 billion in stock on Tuesday to help repay a $25 billion bailout received from the U.S. government last year.
Bank of America Corp (BAC.N) pledged on Monday to loan an additional $5 billion to small businesses in 2010, after the top executives for the largest U.S. banks met U.S. President Barack Obama.
DLF Assets, owned by the founders of India's top real estate firm DLF (DLF.BO), is reviving plans for a Singapore listing of its real estate investment trust, encouraged by the global equities rally, three sources said.
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Citigroup Inc and Wells Fargo & Co said they were paying back funds to the U.S. government, in transactions that will end taxpayers' capital support of the biggest U.S. banks much sooner than had been expected just weeks ago.
