Stocks headed for a higher open on Thursday as resurgent oil prices lifted energy shares and sentiment was underpinned by optimism about the Federal Reserve's push to lower borrowing costs.
Royal Bank of Scotland and Citigroup have canceled orders for private jets for top executives in the wake of the financial crash and a public backlash over corporate perks, French planemaker Dassault Aviation said on Thursday.
Citigroup Inc on Thursday said it may conduct a reverse stock split as part of an exchange offer that could give the U.S. government a 36 percent stake in the bank.
Stock futures signaled Wall Street would rise at the open on Thursday as rising oil prices boosted energy shares and sentiment was underpinned by optimism about the Federal Reserve's bid to lower borrowing costs.
Citigroup Inc and Morgan Stanley will in the next few weeks announce plans to authorize or repurpose shares so they can have enough stock to compensate employees, the Wall Street Journal said, citing people familiar with the matter.
Option volume in Citigroup on Wednesday skyrocketed, as the bank's calls became more popular than the S&P 500 SPDR SPY.P exchange-traded fund, typically a top favorite among the options crowd.
Shares of Bank of America Corp and Citigroup Inc powered to multiweek highs on Wednesday on optimism over government efforts to stimulate lending.
Bank of America Corp and Citigroup Inc shares have roughly tripled from the multi-decade lows of less than a month ago and powered higher on Wednesday on optimism government efforts to stimulate lending might boost stocks after punishing recent declines.
Bank of America Corp and Citigroup Inc shares have roughly tripled from multi-decade lows set less than a month ago, and powered higher on Wednesday on speculation their recent punishing declines might have been too severe.
Bank of America Corp and Citigroup Inc shares have roughly tripled from multi-decade lows set less than a month ago, and powered higher on Wednesday on speculation their recent punishing declines might have been too severe.
Bank of America Corp and Citigroup Inc shares have roughly tripled from multi-decade lows set less than a month ago, and powered higher on Wednesday on speculation their recent punishing declines might have been too severe.
Thornburg Mortgage Inc , a large and troubled provider of jumbo mortgage loans, on Tuesday said it may file for Chapter 11 bankruptcy protection.
Pfizer Inc, the world's largest drugmaker, launched a $13.5 billion debt sale in five parts on Tuesday, said IFR.
Stocks were set to open flat to slightly higher on Tuesday, with sentiment underpinned by data showing a surprise jump in U.S. housing starts and by hopes that banks may be seeing some stabilization.
Anticipating restrictions on bonuses, officials at Citigroup Inc and Morgan Stanley are exploring ways to sidestep tough new federal caps on compensation, the Wall Street Journal said.
U.S. credit card defaults rose in February to their highest level in at least 20 years, with losses particularly severe at American Express Co and Citigroup amid a deepening recession.
U.S. bank stocks, which had their best week on record last week, powered higher amid optimism they can soon return to profitability, only to give back their gains after American Express Co said more credit card customers are missing payments.
Stocks fell on Monday after American Express Co said the number of people struggling to make credit card payments grew, erasing earlier optimism that banks could return to profit in the downturn.
U.S. bank stocks, which had their best week on record last week, powered higher again on Monday amid optimism that banks are succeeding in efforts to restore profitability, and that a change to accounting rules might alleviate feared capital shortfalls.
Citigroup Inc awarded Chief Executive Vikram Pandit $10.82 million of compensation in 2008, a year when the government propped up the bank with $45 billion of capital.
The Dow industrials and the S&P 500 climbed on Monday as Barclays said it had a strong start for 2009, joining other major banks, and added it discussed selling one of its units.
British bank Barclays Plc said it is considering selling iShares, part of its fund management arm, and said it was trading strongly, sending its stock up by more than a fifth.
