Citigroup Inc. (NYSE: C) raised $1.9 billion, a much-needed piece of capital, from the sale of its entire stake in Indian's giant mortgage lender Housing Development Finance Corp.
Gold prices retreated from an earlier two-week high in Europe on Wednesday as persistent concerns over Europe's finances hurt the euro and weighed on stock markets, while a supply upset in major producer South Africa lifted platinum to a five-month high.
China's manufacturing activity may shrink for a fourth consecutive month in February, despite edging up to the highest point in four months, according to a preliminary report released Wednesday.
China's central bank is expected to make more cuts to banks' reserve requirements to fuel lending and sustain economic growth.
Moody's Investors Service placed 114 financial firms , as well as 17 banks and securities firms with global capital markets operations, under ratings review due to the ongoing Eurozone crisis.
Gold prices fell on Thursday as the euro slid to a three-week low versus the dollar, pressured by news that European officials considered delaying a bailout package for Greece which fuelled fears the heavily indebted nation could face a chaotic default.
Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the eurozone government debt crisis is spreading throughout the global financial system.
Moody's Investor Service warned Thursday it could downgrade the credit ratings of 17 global banks and securities firms due to more fragile funding conditions, increased regulatory burdens and a more difficult operating environment.
A $1.7 million (£1.1 million) treasure that included jewelry, master tapes from bands Joy Division and New Order as wells as a gun were found on the site of celebrity chef Jamie Oliver's new restaurant, according to reports.
The precious metals market followed Wall Street's skid today, as gold and companies that peddle it were driven down by underwhelming retail figures in the U.S., and ongoing concerns over Greece and the Eurozone.
The euro rose to a session high and shares reversed early losses after key German data bolstered hopes that Europe's largest economy was recovering and a strong Italian bond sale added to signs that financing pressures were being contained.
Gold prices followed crude oil and global stocks lower Tuesday after ratings firms cut the credit ratings of several European nations and banks and warned that more reductions were likely.
Canada's Barrick Gold, the world's largest gold producer, plans to sell its 20 percent stake in Russia's Highland Gold, pulling out of one of the world's most promising - but also toughest - gold frontiers.
Trading in shares of Alibaba.com Ltd was halted on Thursday pending an announcement regarding its parent, Chinese e-commerce giant Alibaba Group, which reportedly plans to buy back the 40 percent stake in it held by Yahoo Inc.
The current gold rally is expected to continue due to a combination of monetary and fiscal influences, HSBC analyst James Steel reported to investors Sunday.
A group of Brazil-based hackers took down the main corporate Web site of New York-based Citigroup on Friday, as the loosely associated collective continued its weeklong campaign of attacks on Web properties of major international banks. The public site of Brazil's central bank was also taken down.
The Bank of America is no longer the nation's biggest mortgage servicer in the U.S., according to the latest report.
The job cuts, if they go through, would be part of thousands of other cuts which financial institutions plan to make in the near future.
Crumbling global demand restrained factory output in Asia and most of Europe in January, business surveys showed on Wednesday, putting pressure on policymakers to shore up growth and counter a spreading malaise.
The rupee hit a near three-month high on Wednesday, clawing back all early losses, supported by robust dollar inflows, local share gains and a recovery in the euro.
South Korean regulators on Friday endorsed Hana Financial Group Inc.'s 3.9 trillion won ($3.48 billion) acquisition of Korea Exchange Bank, paving the way for U.S. private-equity firm Lone Star's sale of the local lender and closing the final chapter of a drawn out and acrimonious saga.
HSBC Holdings PLC is under investigation by a U.S. Senate panel in a money-laundering inquiry, the latest step in a long-running U.S. effort to halt shadowy money flows through global banks, according to people familiar with the situation and a company securities filing.
