Citigroup will use $36.5 billion to issue mortgages, credit card loans and buy distressed assets in the credit market in the coming months, the Associated Press reports citing a report from the firm.
Citigroup will use $36.5 billion to issue mortgages, credit card loans and buy distressed assets in the credit market in the coming months, the Associated Press reports citing a report from the firm.
Eli Lilly and Co. had a net loss of $3.629 billion in the fourth quarter citing charges from the acquisition of ImClone Systems Inc.
Shares of major banks in the U.S. rose early Wednesday pulling up the financial sector on optimism that President Barack Obama's administration may go ahead with a plan to buy bad assets in the financial system creating the so-called bad bank.
The efforts of the U.S. government and the Treasury Department to avoid misuse of bailout funds amid an unprecedented financial crisis in America has led Citigroup Inc. on Tuesday to cancel its move to take possession of a new corporate jet which had planned to buy.
Citigroup Inc spokesman said Tuesday the struggling company will not take ownership of a new $50 million business jet aircraft after receiving scrutiny of the purchase.
McDonald's began 2009 by reporting strong end to 2008, as the global fast food chain continues to do well in difficult economic times with a fourth quarter profit that beat Wall Street analysts' expectations.
Quietly and with little fanfare, the ownership of hundreds of public companies in the United States has moved from being dispersed among many players to being concentrated in the hands of a just a few. But it's not big banks that are dominating corporate ownership, as in the past. Instead it's mutual funds that hold almost 30 percent of U.S. corporate ownership today, compared with 8 percent in ...
Citigroup is planning to sell its Japanese retail brokerage Nikko Cordial Securities, according to a report.
Citigroup Inc lost $8.29 billion in its latest quarter, marking five straight quarters of losses as it unveiled a restructuring plan that divides the company into two major units. Investors were pleased with the news, sending shares up 9.7 percent in pre-market trading on Friday.
Bank of America Corp requesting additional capital from the U.S. Government, according to people familiar with the situation quoted by reports today. The aid will help absorb losses related to the purchase of Merrill Lynch last month, a sale which the government favored to prevent further turmoil in the financial system.
The company is splitting to ultimately reduce its overall mission to two areas only: wholesale banking for large corporate clients and retail banking, according to the Wall Street Journal
Citigroup Inc and Morgan Stanley may announce a deal this week that could combine their brokerages to create a new company, the latest move in a financial services industry which has begun consolidating businesses wracked by heavy losses tied to mortgages, according to media reports.
Citigroup announced that Robert Rubin has retired as Senior Counselor effective Friday and will finish out his term as a director on the company's board.
US banking giant Citigroup said it had 1.4 billion dollars in direct exposure to Netherlands-based chemical giant LyondellBasell.
Citigroup has reached a deal with key senators that may pave the way for judges alter mortgage loans to help homeowners stay in their homes. Cramdowns' as they are called, are when judges force lenders to modify the original terms of a loan.
U.S. stocks were mixed on Monday, dragged lower by financial shares on concern there could be more credit losses and while record oil prices topped $143 a barrel.
U.S. stocks tumbled sharply on Thursday with the Dow dropping to its worst level since September 2006 on a series of downgrades from Goldman Sachs while shares of Citigroup Inc. and General Motors hit its lowest levels in more than nine years.
U.S. stocks rose on Tuesday on speculation that weaker consumer confidence and a record plunge in home prices will ensure the Federal Reserve to maintain interest rates at current levels, while United Parcel Service set new multiyear low.
U.S. stocks fell on Friday to a three month low as the oil price continued to rise following increased violence in the Middle East and more trouble persisted in the financial sector.
U.S. stocks fell on Monday for the first time in three days, giving back some of Friday's gains, after a bigger-than-expected drop in New York state manufacturing and a decline in the dollar cast doubts about the state of the U.S. economy, while oil jumped $4 a barrel.
American International Group Inc's financial-products division has come under scrutiny in government probes, The Wall Street Journal reported on Friday.
