All Entries Tagged With: "Citigroup"

Citigroup sells controlling stake in Bellsystem24

Private equity firm Bain Capital Partners are buying a controlling stake in Japan’s leading call center operator, Bellsystem24, from Citigroup Inc. (NYSE:C) according to Citigroup in a deal that values the operation at $1.1 billion.

Credit losses at Citigroup Inc continue to grow

Citigroup Inc (NYSE:C) are still facing tough times as its credit losses are continuing to grow at an alarming rate, this is according to analysts at Goldman Sachs (NYSE:GS). The company estimates that Citigroup, the third-largest U.S. bank’s first quarter loss will be 38 cents per share, which will send the bank’s shares down 8 [...]

HSBC, Citigroup, Santander and Barclays accused of aiding corrupt regimes

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It is hard to imagine that some of the world’s largest banks would be involved in some of the world’s most corrupt regimes, but that is just what Global Witness is accusing HSBC (NYSE:HBC), Citigroup (NYSE:C), Banco Santander SA (SAO:SANB3) and Barclays (LON:BARC) of.

Citigroup and Nomura Holdings both announce 1,000 job cuts

The Japanese brokerage division of Citigroup Inc (NYSE:C) will lose 1,000 of its employees due to the troubled banking giant action plan to survive the financial crisis, according to reports on Wednesday.
The job losses will hit mainly the over 40 workers in the Nikko Cordial Securities Inc, these employees have accepted redundancy

Nomura Holdings Axes 1,000 London Jobs due to Lehman acquisition

Nomura Holdings (NYSE:NMR) the Japanese brokerage firm who brought parts of failed Lehman Brothers back in September is shedding 1,000 staff in London. The news comes as Citigroup (NYSE:C), JPMorgan (NYSE:JPM), Credit Suisse (NYSE:CS) and Goldman Sachs (NYSE:GS) all announce huge job losses amid the spiraling market conditions in the global financial industry.
The 1,000 job [...]

Selling FDIC-Backed Debt: Citigroup, Wells Fargo & Co. and GE Capital

Wells Fargo & Co (NYSE:WFC), Citigroup Inc (NYSE:C) and GE Capital join other banks by selling US government backed bonds to refinance debt by buying the cheap funds.
According to Bloomberg data Wells Fargo will issue three-year fixed and floating rate bonds. Citigroup sold $5.5 billion of FDIC-guaranteed bonds, split among floating-rate notes maturing to two [...]

Citigroup bailout: Barack Obama Official Wants Tighter Controls

President-elect Barack Obama top transition official, John Podesta calls for the Government to intervene at Citigroup (NYSE:C) in the same way it did with troubled car manufacturer General Motors (NYSE:GM).
Citigroup received a £13 billion bailout this week from the Federal Government after the troubled bank fell deeper into trouble as its share prices tumbled 60 [...]

Citigroup Gets $150 Million Injection From Telecom Billionaire

Citigroup (NYSE:C) received a surprise investor today, billionaire Carlos Slim the world’s second richest man brought a 0.5 percent share in the troubled US bank, for around $150 million (£98 million) through his investment company.
No reports have been given as to if the Mexican billionaire believes that Citigroup is undervalued

Citigroup rate Royal Bank of Scotland share value

Royal Bank of Scotland (RBS) cash call for £15 billion expired yesterday as the banks shares plummeted below the offer price. To bolster RBS’s finances, the government agreed to purchase any of the 22.9 billion new shares if the existing shareholders did not buy them.
Due to RBS share price closing at 53.60p much lower than [...]

HSBC are waiting to pounce on Citigroup

Whilst Citigroup (NYSE:C) was on the verge of collapse at the weekend, HSBC were eyeballing some of the Citi’s in Latin America and Asia, they are said to be waiting to see if Citigroup board decides on a limited sale of assets or a breakup.
It’s the businesses in Mexico, Argentina and Brazil that Citigroup are [...]

FTSE 100 soars on Chancellor’s speech amid Citigroup bailout

In London the FTSE 100 soared to its largest ever one day gain, this came as the US government announced the Citigroup bailout and the UK Chancellor of the Exchequer, Alistair Darling, gave his pre-budget speech which included tax cuts and how he would be kick-starting the UK economy.
The FTSE 100 Index had already shot [...]

Citigroup Bailout sends New Zealand and Australian dollars plummeting

Sunday night the US government announced plans for a Citigroup bailout worth billions, sending the New Zealand and Australian Dollars plummeting as investors dumped higher-yielding currencies funded in the US and Japan.
The currencies also slumped as Asian Stocks fell indicating the worldwide

Citigroup Federal bailout: FDIC to implement procedures similar to IndyMac

Citigroup is set to receive a huge rescue bailout from the US Federal Government in a bid to shore up the banking giant after shares tumbled further last week. The plan was announced by the Feds on Sunday.
The Citigroup Federal bailout has two main features, First, the Federal Deposit Insurance Corporation (FDIC) and the US [...]

Citigroup, JP Morgan & Capital One Financial Corp bid for Chevy Chase

Citigroup continued to fall today, and in morning trade in New York fell as low as $4.77 taking the price to almost a 14-year low, by the early afternoon the shares regained a little at $5.57.
Reports out today in Reuters rumoured that Citigroup was one of three bidders for Chevy Chase Bank along with Capital [...]

Alwaleed increases share in Citigroup as loss tops Buffett

Prince Alwaleed bin Talal branded the Warren Buffett of the Gulf is being hit harder than Buffett in the credit crunch. Alwaleed become the 5th richest man is the world after a 1991 investment in Citigroup Incs.
Alwaleed’s Riyadh-based Kingdom Holding Co tumbled 63 percent wiping out £13 billion