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Citigroup Inc. latest news:
Citigroup raises CEO Corbat's pay 48 pct to $23 mln
Citigroup Inc(C) raised Chief Executive Officer Michael Corbat's annual compensation by 48 percent to $23 million for 2017, a year in which the bank made more money from operations but still fell short of earlier targets. Directors considered recent progress toward new targets when setting Corbat's pay, according to a public filing on Friday.
BRIEF-Omega Advisors Takes Share Stake In Wells Fargo, Citigroup
Omega Advisors: * TAKES SHARE STAKE OF 609,700 SHARES IN WELLS FARGO - SEC FILING. * TAKES SHARE STAKE OF 130,000 SHARES IN CITIGROUP - SEC FILING. * TAKES SHARE STAKE OF 171,353 SHARES IN HUMANA - SEC FILING. * TAKES SHARE STAKE OF 1.7 MILLION SPONSORED ADRS IN CEMEX - SEC FILING. * DISSOLVES SHARE STAKE IN GODADDY - SEC FILING.
PRESS DIGEST- Financial Times - Feb 12
The following are the top stories in the Financial Times. Headlines. Diesel-only trains in UK to be phased out by 2040 http://on.ft.com/2BqPVGy. Weinstein sued by NY attorney-general over sexual harassment http://on.ft.com/2Bo693k. Citigroup (C) to set up innovation centre in London http://on.ft.com/2BREJUO. Overview.
Citigroup to invest in London, hire staff despite Brexit - FT
Wall Street bank Citigroup Inc (C) will set up an innovation centre in London in one of the first investments by a big U.S. bank since Brexit, the Financial Times reported on Sunday. Citi will initially hire 60 technologists for the centre, James Cowles, chief executive Officer for Europe, the Middle East and Africa, told the FT. The company could not be immediately reached for comment.
Citigroup to invest in London, hire staff despite Brexit: FT
(Reuters) - Wall Street bank Citigroup Inc will set up an innovation center in London in one of the first investments by a big U.S. bank since Brexit, the Financial Times reported on Sunday.
BRIEF-Citigroup Global Markets Inc Reports 6.4 pct Passive Stake In Regalwood Global Energy Ltd As Of Dec 31, 2017
Regalwood Global Energy Ltd: * CITIGROUP GLOBAL MARKETS INC REPORTS 6.4 PERCENT PASSIVE STAKE IN REGALWOOD GLOBAL ENERGY LTD AS OF DEC. 31, 2017 - SEC FILINGââ Source text - Further company coverage:
Citigroup targets rapid Middle East, Africa growth in 2018
Citigroup(C) expects 2018 to be its best year for investment banking in the Middle East and Africa in at least a decade, likely led by Saudi Arabia, a senior executive at the U.S. bank said.
Milan court throws out Parmalat's $2.2 bln Citi claim
A Milan court has thrown out a 1.8 billion euros claim by Italy's Parmalat (PLATF) against Citigroup (C), the U.S. bank said on Wednesday, in a case relating to the dairy group's 2003 collapse. "The Court of Milan has granted Citigroup's (C) motion to dismiss in its entirety a civil claim for 1.8 billion euros," the U.S. bank said in a statement.
Lawsuit claiming Citigroup ran 'boys club' dismissed by U.S. judge
A federal judge in Manhattan on Tuesday dismissed a lawsuit by a fired Citigroup Inc (C) financial adviser who said the bank's "culture of gender discrimination" made it clear that "the boys were in charge."
Rising yields aren't boosting banks
Bond yields have hovered at rock-bottom levels for years since the financial crisis, helping keep a cap on bank earnings. As soon as investors rotate out of bonds, the outlook for banks would perk up, analysts believed. Banks need a bigger spread between the short-term rates they pay depositors and the long-term rates they collect from borrowers in order to make money, and that differential is more compressed when rates are low. But rates have been on the rise for the past few weeks - the 10-year U.S. Treasury note has gained about 40 basis points in the year to date - but bank stocks haven't been immune to the broader market sell-off. In the month to date, the Financial Select Sector SPDR has tumbled 6.3%. Shares of Citigroup [s:c] are down 6.6%, shares of Bank of America Corp. are down 5.4%, and shares of Wells Fargo & Co. [s:wfc] have plunged more than 11%, though that's in part due to the Federal Reserve sanctions announced February 2. JPMorgan Chase & Co. shares are still in the black for the month, but barely. Another reason the bank sell-off is notable: most analysts expected a lighter regulatory touch from Washington under the Trump administration. Most believe there's a difference between regulatory red tape and enforcement of the kinds of misdeeds Wells Fargo engaged in, but the Fed's actions have still unsettled investors. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Citigroup Inc Declares Qtrly Dividend On Common Stock Of $0.32 Per Share
Citigroup Inc(C): * Citigroup Inc(C) - DECLARED A QUARTERLY DIVIDEND ON CITIGROUP'S COMMON STOCK OF $0.32 PER SHARE Source text for Eikon: Further company coverage:
Brazil issues $1.5 bln in reopening of 2047 dollar bond
Brazil has issued $1.5 billion worth of a 2047 dollar bond at a spread of 271 bps over U.S. Treasuries, in a reopening that is its first sovereign debt transaction of the year, the National Treasury said on Thursday. The Treasury hired Citigroup Inc (C), HSBC Holdings Plc (HSBC) and Morgan Stanley (MS) to underwrite the reopening of its Global 2047 bond.
Citigroup posts $18.3B fourth-quarter loss, its earnings erased by federal tax overhaul
CEO Michael Corbat reaffirms plans to return $60 billion in capital to investors, predicts federal tax change will lead to higher income and returns
BRIEF-Citigroup Inc Credit Card Delinquency, Charge-Off Rates for December
Citigroup Inc(C): * Citigroup Inc(C) - CREDIT CARD CHARGE-OFFS 2.58 PERCENT IN DECEMBER VERSUS 2.49 PERCENT IN NOVEMBER - SEC FILING. * Citigroup Inc (C) - CREDIT CARD DELINQUENCY RATE 1.53 PERCENT AT DECEMBER END VERSUS 1.58 PERCENT AT NOVEMBER END Source text: Further company coverage:
Why Citigroup Won't Miss That $22 Billion
Citigroup(C) Inc. on Tuesday posted one of its largest quarterly losses ever, dragged down by a $22 billion write-down related to the recently passed tax overhaul. This helped its shares to rise by around 1% in morning trading. No, this isn't "opposite day."
UPDATE 4-Citigroup reports $18 bln loss on one-time tax items
Jan 16 (Reuters) - Citigroup Inc posted an $18-billion
quarterly loss on Tuesday because of charges related to a new
U.S. tax law, but its adjusted earnings beat Wall Street
expectations and management signaled that the bank may soon lift
financial performance targets.
Citigroup reports $18 billion loss on one-time tax items
(Reuters) - Citigroup Inc posted an $18-billion quarterly loss on Tuesday because of charges related to a new U.S. tax law, but its adjusted earnings beat Wall Street expectations and management signaled that the bank may soon lift financial performance targets.
UPDATE 3-Citigroup reports $18 bln loss on one-time tax items
Dow tops 26,000 as U.S. stocks open at records
U.S. stocks opened sharply higher on Tuesday, with major indexes hitting their latest in a string of records and the Dow breaking through its latest 1,000-point milestone. The Dow Jones Industrial Average rose 215 points, or 0.9%, to 26,025. The S&P 500 added 15 points, or 0.5%, to 2,801. The Nasdaq Composite Index added 52 points, or 0.7%, to 7,312. Corporate earnings were a main driver of trading, both UnitedHealth Group Inc. and banking heavyweight Citigroup Inc. were among the stocks that reported. Shares of UnitedHealth rose 2.7% while Citigroup gained 1.4%. Separately, General Electric Co. fell 2% after the conglomerate said a review of GE Capital's insurance portfolio would result in a $6.2 billion after-tax charge in the fourth quarter.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
UK Stocks-Factors to watch on Jan 16
Jan 16 (Reuters) - Britain's FTSE 100 index is seen opening up 8
points on Tuesday, according to financial bookmakers.
* RIO TINTO: Global miner Rio Tinto said on Tuesday it could
ship up to an additional 10 million tonnes of iron ore in 2018 worth $780
million at today's prices after reporting a 1 percent rise in 2017 shipments.
* CITIGROUP: Citigroup Inc will increase compensation for women and
minorities to bridge pay gaps in the United States, the United Kingdom and
Citigroup to give raises to women, minorities to close pay gap
The big bank said an internal survey showed women get 99 percent as much as men in similar jobs and minorities in the U.S. get 99 percent as much as whites.
Citi to raise pay for women and minorities in U.S., UK, Germany
(Reuters) - Citigroup Inc will increase compensation for women and minorities to bridge pay gaps in the United States, the United Kingdom and Germany, as part of its annual pay process this year, the Wall Street bank said on Monday.
What to Expect When Citigroup Reports Q4 Earnings
Could President Trump Cause Oil Prices to Top $80 a Barrel?
The president is one of the many wild cards that analysts at Citigroup think might drive crude back into the $80s.
MOVES-Goldman, Citigroup, Lazard
The following financial services industry appointments were announced on Wednesday. GOLDMAN SACHS GROUP INC (GS). The bank has made two hires in Asian equity capital markets, bolstering its South-East Asian and equity-linked teams. CITIGROUP INC (C). The bank has named Lars Ingemarsson and Ari Makela as co-heads of investment banking for the Nordic region. LAZARD.
BRIEF-Citigroup Announces Redemption Of Series AA Preferred Stock
Citigroup Inc(C): * CITIGROUP ANNOUNCES REDEMPTION OF SERIES AA PREFERRED STOCK. * CITIGROUP-CO IS REDEEMING, IN WHOLE, ALL $96.8 MILLION AGGREGATE LIQUIDATION PREFERENCE OF DEPOSITARY SHARES.
Citigroup follows Morgan Stanley, UBS, quits recruiting pact -bank
Citigroup Inc(C) became the latest firm on Friday to say it would quit a 14-year-old agreement reached among Wall Street's biggest securities brokerages to not sue each other when a broker switches firms. Morgan Stanley (MS) and UBS Group AG's Wealth Management Americas discontinued the agreement, called the "broker protocol," earlier this year.
Citigroup to pay $11.5 million fines, compensation over errant stock ratings
NEW YORK (Reuters) - Citigroup Inc will pay at least $11.5 million in fines and restitution to settle charges it displayed the wrong research ratings on more than 1,800 stocks, causing many customers to own shares they never would have bought, a U.S. regulator said on Thursday.
BRIEF-Citi Statement On 2017 Resolution Plan
Citigroup Inc(C): * CITI STATEMENT ON 2017 RESOLUTION PLAN. * Citigroup Inc(C) - "WE ARE PLEASED THAT NEITHER THE FED NOR THE FDIC FOUND ANY DEFICIENCIES OR SHORTCOMINGS IN OUR 2017 RESOLUTION PLAN" Source text for Eikon: Further company coverage:
Big U.S. banks engage universities to fill unglamorous banking jobs
Banks are grappling with how to recruit young people into businesses like trade finance and cash management, which are increasingly important drivers of revenue but perceived to be un-sexy compared with investment banking and trading. At Citigroup Inc (C), the treasury and trade solutions group is seen as a jewel, with stable revenue and high return on equity.
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