Citigroup has caught the eye of hedge fund manager William Ackman because he expects the financial services company to soon be able to return billions to its shareholders and to enjoy big tax benefits.
Citigroup Inc Chief Executive Vikram Pandit is pinning his hopes for an economic recovery on the developing markets where his company already has a firm foothold.
Citigroup Inc Chief Executive Vikram Pandit stressed the bank was now focusing on responsible finance, a comment that comes as rival Goldman Sachs wrestles with legal woes.
Republican lawmakers on Tuesday took a more conciliatory tone toward Democrat proposals to crack down on Wall Street as the Senate delayed debate on a broad financial reform package until next week.
Citigroup Inc posted a $4.43 billion first-quarter profit, its best result in nearly three years, as the economic recovery reduced the bank's credit losses and increased prices on even its worst assets.
Citigroup Inc posted a $4.43 billion first-quarter profit, its best result in more than two years, as the global economic recovery lifted the values of its worst assets and allowed the bank to set aside less money to cover credit losses.
Citigroup Inc posted a $4.43 billion first-quarter profit as losses from bad loans declined.
Citigroup Inc Chief Executive Vikram Pandit has done a tremendous job at the bank, the bank's chairman said on Monday in an interview with Bloomberg Television.
Citigroup's life insurance unit Primerica filed for an initial public offering of up to about $234 million, as part of the financial giant's plans to shed assets outside its core banking business.
The S&P 500 gained 4.63 points, or 0.40 percent, to close at 1,150.24, below the 2010 intraday high of 1,150.45 and slightly above the closing high of 1,150.23, both made on January 15.
Citigroup Inc Chief Executive Vikram Pandit told investors on Thursday the bank is on track to return to sustained profitability and losses from some of its worst assets should be manageable if the economy does not deteriorate.
U.S. stock index futures pointed to a lower open on Thursday as weekly U.S. jobless claims fell and data showed a jump in Chinese inflation.
U.S. stock index futures were lower on Thursday ahead of a report on weekly jobless claims and after data showed a jump in Chinese inflation.
U.S. stock index futures were slightly lower on Thursday ahead of data on weekly jobless claims and international trade.
Stock index futures fell on Thursday, pointing to a weaker start for Wall Street. By 0859 GMT (3:59 a.m. ET), futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq slipped 0.2 to 0.3 percent.
U.S. private equity firm Apollo Management LP has agreed to buy Citigroup's real estate investment division, Bloomberg said, citing a person with knowledge of the deal.
Citigroup Inc Chief Executive Vikram Pandit on Thursday voiced support for key Obama administration financial reform goals, including a consumer protection authority, but government watchdogs questioned his earnestness.
After digesting several economic data releases in the morning session, the U.S. stock market rallied to close at a modest gain.
The official supervising the government's bailout investment in Citigroup said Thursday that the government intends to sell its holdings in the bank in a responsible manner within the next year.
Citigroup chief executive Vikram Pandit on Thursday will endorse a key aspect of President Obama's financial reform proposal known as the Volcker Rule as he testifies before Congress on the financial bailout investments the bank has received.
Citigroup Inc Chief Executive Vikram Pandit said he supports an enhanced federal consumer protection authority because problems for consumers can affect the entire financial system.
Citigroup Inc Chief Executive Vikram Pandit said he supports a federal consumer protection authority, because a key lesson of the crisis is that issues influencing consumers can become issues for the whole financial system.
