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Citigroup Inc. said its chief financial officer and co-head of global markets are getting raises, while CEO Vikram Pandit will continue to collect a salary of $1 per year.
Citigroup Inc. said Sunday that it is selling its controlling stake in Japan's leading call center operator, Bellsystem24, to private equity firm Bain Capital Partners in a deal that values the operation at $1.1 billion.
Shares of Citigroup Inc. fell Friday after a CLSA analyst issued a note forecasting the bank would write down as much as $10 billion in its fourth quarter.
Shannon Burdette tried to pay with her Shell Mastercard after filling up her gas tank this weekend but found the card rejected.
Citigroup provided a sobering reminder Thursday that the economy is still struggling, reporting that its third-quarter results were weighed down by billions of dollars in failed loans.
Citigroup Inc. reports results for its third quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period.
Citigroup Inc. has agreed to pay a $600,000 fine and be censured to settle regulators' charges that it failed to supervise complex stock-trading strategies aimed at reducing the bank's potential tax bill.
Citigroup Inc. is removing one of the irritants in its relationship with the government, its Phibro commodities trading division that is paying one trader an estimated $100 million this year.
An independent consulting firm has given Citigroup Inc.'s management team a good review, but the embattled bank could see more changes among its top ranks, The Wall Street Journal reported Wednesday.
Citigroup Inc. said Monday it is switching to a fee-based model in its retail investment business, eliminating commissions for its 600 in-house financial advisers by the end of next year.
Citigroup Inc. has completed the sale of its Japanese brokerage to Sumitomo Mitsui Banking Corp. in a $8.7 billion deal that advances the U.S. bank's efforts to restructure after big losses on risky investments.
Citigroup Inc. appears to be shifting its strategy in its U.S. retail banking business, focusing on its strongest markets rather than trying to expand across the country.
A Singapore sovereign wealth fund cut its stake in Citigroup Inc. to below 5 percent from 9 percent on Tuesday, reducing its ownership to the level planned before a recent debt exchange.
A Singapore sovereign wealth fund has cut its stake in Citigroup Inc. from 9 percent to below 5 percent, realizing a $1.6 billion profit as it reduced its holding to the level planned before a recent exchange of preferred stock.
Citigroup Inc. CEO Vikram Pandit confirmed Wednesday that the bank plans to eventually sell the remaining stake in its Smith Barney brokerage venture to Morgan Stanley, which owns the other half.
Citigroup Inc. is reportedly considering a plan in which the Treasury Department would sell part of its holdings in the bank, while the bank would issue new shares to the public as part of a multibillion-dollar stock offering.
Citigroup is considering a plan in which the Treasury Department would sell part of its holdings in the bank, while the New York-based company would issue new shares to the public as part of a multibillion-dollar stock offering, The Wall Street Journal said, citing people familiar with the matter.
Citigroup Inc. said Thursday that shareholders approved a plan to increase the number of outstanding shares so it can complete a debt exchange program that gives the government a minority stake in the banking giant.
Citigroup Inc. said Monday that it sold $1.3 billion in credit card assets as the bank reorganizes itself in the wake of government bailouts.
A report Thursday said federal officials are pressuring Citigroup Inc. to hire external consultants who will evaluate whether the bank's current management is capable of leading it out of financial crisis.
Shares of Citigroup Inc. rose nearly 8 percent Wednesday, outpacing gains among other financial stocks, amid a brighter outlook on the economy from the Federal Reserve.
Citigroup Inc. said Tuesday it approved $6 billion in new lending initiatives during the second quarter as part of its programs supported by government bailout funds.
Citigroup Inc. said Thursday it is selling its entire majority stake in a Japanese asset management company to The Sumitomo Trust and Banking Co Ltd. for about $795 million.
The hefty 2009 pay package of Andrew J. Hall, leader of Citigroup Inc.'s lucrative Phibro energy trading unit, may spark a showdown between the New York-based bank and government pay czar Kenneth Feinberg.
Citigroup Inc. named three new outside directors Friday as the bank seeks to shift its focus back to traditional banking after it suffered a bruising hit from risky mortgage-backed securities.
Confessions of a credit card telemarketer - The Red Tape Chronicles - msnbc.com"I hate flat-out lying to someone, but that's exactly what we do, 150 calls a day. I have seen so many people ripped off that I had to attempt to let people know." "Honestly, the little old ladies are the people who buy the most."
Banks prepare for Plutocracy...SEC. 1103. PRUDENTIAL OVERSIGHT OF ACCOUNTING PRINCIPLES AND STANDARDS THAT POSE SYSTEMIC RISKS.
Obama's Cuts In Bank Execs Pay Is A Joket's the administration's Band-Aid approach to an almost intractable problem that has many Americans on edge this fall.
Washington's Bank Pay CrackdownWashington launched its biggest offensive yet against runaway Wall Street pay practices Thursday, taking aim at everyone from senior executives to high-flying traders of complex securities.
U.S. to Order Pay Cuts at 7 Companies With Bailout Aid WASHINGTON — Responding to the furor over executive pay at companies bailed out with taxpayer money, the Obama administration will order the firms that received the most aid to slash compensation to their highest-paid employees, an official involved in the decision said on Wedn …
Administration Said to Order Deep Cuts in Pay at Bailed-Out Companies Responding to the growing furor over the paychecks of executives at companies that received billions of dollars in federal bailouts, the Obama administration will order the companies that received the most aid to deeply slash the compensation to their highest paid executives, an …
Citi set to pay $6,00,000 fine for helping clients dodge taxes"Citigroup is to be fined over derivatives transactions that were partly designed to help foreign clients avoid taxes on dividends," British daily the Financial Times has reported.
Apple, Google, others named in patent infringement suitResearch and development company Eolas Technologies has filed a lawsuit against over a dozen companies, including major technology businesses such as Apple, Adobe, Amazon, Google, eBay and Sun.
U.S. charges Obama fund-raiser in $290 million fraudHassan Nemazee, a fund-raiser for Barack Obama, Hillary Clinton and other Democrats, has been indicted for defrauding Bank of America, HSBC and Citigroup Inc out of more than $290 million in loan proceeds, U.S. prosecutors said on Monday.
Banks 'Too Big to Fail' Have Grown Even BiggerJ.P. Morgan Chase, an amalgam of some of Wall Street's most storied institutions, now holds more than $1 of every $10 on deposit in this country.
Citigroup's Hall may get his bonus (Dealscape - Crisis On Wall Street)It looks like Citigroup Inc.'s (NYSE:C) Andrew Hall, who heads its profitable Phibro commodity trading unit, might get his $100 million bonus after all.
100 million dollar bonus to Citigroup exec contractually owed: Your taxes will pay for itIn a few weeks, the Treasury Department's czar of executive pay will have to answer this $100 million question: Should Andrew J. Hall get his bonus?
Bail-Out Bonuses at Banks that Got the Most $ from U.s. - $1 Million a Head...Hundreds and Hundreds of HeadsThousands of top traders and bankers on Wall Street were awarded huge bonuses and pay packages last year, even as their employers were battered by the financial crisis. More Articles
At The Top 9 Recipients of TARP Funds, 800+ People Made More Than $3,000,000 each in 2008NY Attorney General Andrew Cuomo released his report on bonuses at the TARP Top 9. At these firms alone, over 800 people made north of $3 million in 2008. That's a lot of scharole. See Appendix B for the bonus breakdown at each bank.
Windfalls for Bankers, Resentments for the RestThere was a time in this country when a company reporting a few billion in earnings could count its money while basking in polite, reverent applause.
Citigroup Posts $4.28 Billion Profit on Smith Barney Citigroup Inc. posted a $4.28 billion profit, less than analysts estimated, as surging loan losses cut into a gain from selling control of the Smith Barney brokerage unit.
Another Day, Another Bank Getting Rich Off Your Money - class war - GawkerBank of America posted a $3.2 billion profit last quarter, and Citigroup earned $4.3 billion. The friend you lent $50 last week so he could afford groceries is showing you his new iPhone. Punch him in the face.
The Most Important Financial Journalist of Her GenerationEXCERPT: After all, the mortgage crisis was nothing if not the Bear/Baron model writ large.
Frank Rich - New York Times - Op-Ed Columnist - Bernie Madoff Is No John DillingerTHE judge condemned Bernie Madoff's crimes as "extraordinarily evil." The New York Daily News, whose publisher was a Madoff victim, chose "The Pariah" as its front-page headline and promised that the dastardly villain would suffer "everlasting consumption in the jaws …
Citi raises credit card rates ahead of new lawexcerpt: ""Citigroup has increased interest rates on up to 15 million U.S. credit card accounts just months before curbs on such rises come into effect, the Financial Times reported citing people close to the situation.
Citi raises card rates on millionsCitigroup has sharply increased interest rates on up to 15m US credit card accounts just months before curbs on such rises come into effect, in a move that could fuel political anger at the treatment of consumers by bailed-out banks.
HGS Hoping to Survive Final Test of Lupus DrugIn the high-stakes, high-risk, high-failure business of developing drugs, there are two events that test an executive's intestinal fortitude. One: The first time a drug is tried by a human. Is he still alive? Two: Getting results of final-stage testing. Please, let it have worked.
Citigroup Is Said to Be Raising Pay for Workers as much as 50%After all those losses and bailouts, rank-and-file employees of Citigroup are getting some good news: their salaries are going up.
With Bonuses Slim, Citigroup Plans to Raise Salaries - DealBook Blog - NYTimes.comAfter all those losses and bailouts, rank-and-file employees of Citigroup are getting some good news: their salaries are going up, The New York Times's Eric Dash reports.
Back to Business - Banks Dig In to Resist New Limits on Derivatives The nine biggest participants in the derivatives market — including JPMorgan Chase, Goldman Sachs, Citigroup and Bank of America — created a lobbying organization, the CDS Dealers Consortium, on Nov. 13, a month after five of its members accepted federal bailout money.
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