President Barack Obama told top U.S. bankers on Monday they owed the country their help in lifting the economy out of crisis and implored them to lend more money and get behind financial reforms.
Lloyds completed a record 13.5 billion pound ($21.9 billion) rights issue on Monday, ending a turbulent period for the bank and shifting investor focus to a potential government stake sale in 2010.
President Barack Obama planned to get tough with executives from top U.S. banks on Monday and tell them that they must help lift the country out of the economic crisis they helped to create.
U.S. stocks gained on Monday on relief that Abu Dhabi's $10 billion aid would help neighboring Dubai avoid default, and a takeover deal by oil and gas giant Exxon Mobil Corp fed optimism about the growth of mergers and acquisitions.
Citigroup laid out a plan to repay the money it owes the U.S. government, including issuing $17 billion of stock immediately, as the bank looks to end the executive pay restrictions that came with the funds.
President Barack Obama may have some tough words for executives of Goldman Sachs, Citigroup and other financial firms when he meets with them on Monday.
Citigroup laid out a plan to repay the money it owes the U.S. government, including issuing $17 billion of stock immediately, as the bank looks to end the executive pay restrictions that came with the funds.
Abu Dhabi's $10 billion move to help neighboring Dubai avoid default and a deal by Citigroup Inc to pay back U.S. government funds helped U.S. stocks rise in early Monday trading.
Citigroup has struck a deal with U.S. regulators to repay $20 billion of government bailout funds, allowing the bank to exit the TARP program in 2010.
Lloyds has completed a record 13.5 billion pound ($21.9 billion) rights issue, ending a turbulent period for the British bank and shifting investor focus to a potential government stake sale in 2010.
Citigroup said on Monday that it had reached a deal with U.S. regulators to repay $20 billion of shares held by the government by issuing $17 billion of stock and allowing it to exit the TARP program in 2010.
Wall Street was set to rise at the open on Monday as Abu Dhabi moved to bail out neighboring Dubai, winding down fears of a potential default that had rattled markets, and as Citigroup Inc reached a deal to pay back $20 billion of U.S. government funds.
Corrects second bullet point, fifth paragraph to make clear premium is pence not percent
Bailout for Dubai; Citi Seeks Independence; CadburyBid Battle
Corrects 4th paragraph to show Citigroup Chairman Dick Parsons, not CEO Vikram Pandit, is due to met Obama
Citigroup today announced it will raise $20.5 billion in capital, mostly in common stock, after reaching an agreement with the U.S. to pay back a $20 billion bailout investment.
U.S. stock index futures rose on Monday as Abu Dhabi moved to bail out neighboring Dubai, winding down fears of a potential default that had rattled markets, and as Citigroup Inc reached a deal to pay back $20 billion of U.S. government funds.
U.S. stock index futures rose on Monday as Abu Dhabi moved to bail out neighboring Dubai, winding down fears of a potential default that had rattled markets, and as Citigroup Inc reached a deal to pay back U.S. government funds.
Stock index futures pointed to a higher opening on Wall Street on Monday, with futures for the S&P 500 up 0.59 percent, Dow Jones futures up 0.39 percent and Nasdaq 100 futures up 0.49 percent.
Citigroup is nearing a deal with the U.S. government that would allow it to pay back its bailout money, several reports said on Sunday.
Bank of New York Mellon Corp Chief Executive Robert Kelly is the front-runner to succeed retiring Bank of America Corp CEO Kenneth Lewis, but compensation issues could get in the way of a deal, the Wall Street Journal said on Sunday, citing people familiar with the situation.
Citigroup is nearing a deal with the U.S. government that would allow it to pay back some of its bailout money, The Wall Street Journal reported on Sunday, citing people familiar with the matter.