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Citigroup posts profit on Smith Barney gain

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Citigroup Inc , one of the big U.S. banks hit hardest by the financial crisis, posted a quarterly profit as gains from the sale of its Smith Barney brokerage into a joint venture more than offset losses from its primary banking businesses.
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Stock futures point to mixed open ahead BofA, Citi

Dow Jones futures were down 0.01 percent by 4.38 a.m. ET while S&P 500 futures ticked down 0.05 percent and Nasdaq futures rose 0.3 percent, suggesting a mixed start for U.S. stocks on Friday after four days of gains.
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World shares hit 1-month high; dollar, yen firm

World stocks hit a one-month high on Friday on growing optimism that the earnings season may turn out to be better than expected, while investors set their eyes on giants such as Citigroup for clearer market trend.
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Major U.S. exchange chief urges SEC-CFTC merger

The two main regulators of U.S. financial markets should merge, the chief executive of America's largest options exchange says in remarks to be delivered to a congressional panel on Friday.
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Congress gets pay bill as bank bonuses swell

With the smell of fat bonus checks again wafting down Wall Street, the Obama administration and Democrats in Congress on Thursday moved closer to a clampdown on U.S. corporate executive pay.
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Lawmakers slam Paulson on BofA-Merrill deal

U.S. lawmakers on Thursday ripped into former Treasury Secretary Henry Paulson over the government's role in Bank of America's merger with Merrill Lynch and other actions to cope with the deep financial crisis that gripped the country last year.
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JPMorgan profit tops view though credit worsens

JPMorgan Chase & Co said record investment banking and trading results drove quarterly profit 36 percent higher, topping Wall Street forecasts, but reported a surge in consumer credit losses that foreshadows deeper problems on Main Street.
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Lawmakers hit out at Paulson over BofA-Merrill

U.S. lawmakers on Thursday slammed former Treasury Secretary Henry Paulson over the government's role in Bank of America's merger with Merrill Lynch, saying authorities suppressed information about losses and bullied executives into going through with the deal.
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Fee waivers pinch Schwab's profit, more to come

Near-zero U.S. interest rates forced Charles Schwab Corp to slash the asset management fees it charges clients, weighing on its profit -- and much more slashing is expected before year end.
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Stanford receiver wants to hire private equity firm

The receiver charged with marshaling assets of accused swindler Allen Stanford said in court papers on Thursday he needs the help of a private equity adviser to manage the estate's web of investments which total about $650 million.
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GM sees gains in RHJ/Opel deal, but faces hard sell

General Motors GMGMQ.PK will have a hard time overcoming Germany's resistance to a financial investor if it wants to sell Opel to RHJ (RHJI.BR) in the hope that it could later buy its European carmaker back.
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Midday Minute July 16 – Finance

Former U.S. Treasury Secretary Henry Paulson said on Thursday before lawmakers that he saw no evidence of any illegal actions as he testified on Capitol Hill over the government's role in Bank of America, Merrill Lynch merger. In prepared remarks submitted to the panel, he says he acted appropriately in December when Charlotte-based BofA threatened to back out of the deal.
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Apollo affiliate files for $600 mln REIT IPO

Apollo Commercial Real Estate Inc has filed an application to raise up to $600 million in an initial public offering and plans to invest in commercial mortgage-backed securities with part of the proceeds, according to a regulatory filing.
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Wall Street opens lower as caution prevails

Stocks opened lower on Thursday as investors turned cautious following a jump in quarterly profit at JPMorgan Chase & Co and a steep fall in jobless claims, a day after Wall Street tallied its biggest three-day gain since March.
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JPMorgan profit jumps

JPMorgan Chase & Co posted a higher quarterly profit on Thursday, topping Wall Street estimates, as strength in its core consumer and investment banking businesses offset a jump in credit losses.
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JPMorgan profit soars, but warns on loan losses

JPMorgan Chase & Co said record investment banking fees helped drive a 36 percent rise in quarterly profit, topping Wall Street forecasts, but warned that credit quality in consumer mortgages and credit cards is deteriorating faster than it expected.
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Wall Street to open mixed as caution prevails

Stock index futures pointed to a mixed open on Thursday as investors turned cautious following a jump in quarterly profit at JPMorgan Chase & Co and a steep fall in jobless claims, a day after Wall Street tallied its biggest three-day gain since March.
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Stock futures slip ahead of key weekly jobs data

Stock index futures slipped on Thursday as a jump in quarterly profit at JPMorgan Chase & Co was overshadowed by investor angst about the future of lender CIT Group Inc and caution ahead of a key report on the labor market.

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