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Citigroup announces laying off 11,000 staff by the middle of January 2013. The bank expects to save $1.1 billion per year from 2014 by reducing headcount in most of its business units, closing 44 branches in the United States.
Citigroup Inc. this week has agreed to pay $590 million to settle a class-action shareholder lawsuit claiming that the New York-based bank failed to disclose exposure to risky assets.
The vote sent a powerful message to the board of one of the country’s biggest banking firms.
Citigroup Inc., the nation’s third-biggest bank by assets, reported disappointing fourth quarter earnings on Tuesday, sending its shares lower on the New York Stock Exchange.
Banking giant Citigroup Inc. announced Wednesday that the bank would cut around 4,500 jobs in the coming quarters as Chief Executive Officer Vikram Pandit attempts to slash costs in the middle of a trying economic environment for Wall Street.
World Stock markets saw improvements following positive earnings reports from Citigroup.
Citigroup Inc. agreed to pay $75 million to settle a lawsuit, which alleged that the bank hid from its investors large losses.
After a record-breaking year and speculation of a $100 million bonus payout, Goldman Sachs Group Inc. CEO Lloyd Blankfein is taking home a relatively modest $9 million bonus in deferred stock options, the company said last Friday.
Citigroup Inc. and Wells Fargo & Co. said this week they had completely repaid a total of $45 billion in TARP.
Financial giant Citigroup Inc. announced plans to cut 52,000 jobs as it struggles to emerge from the credit crisis.
Charlotte-based Wachovia Corp. is currently in talks with several large banks about a takeover bid, according to several reports.
In a stunning turn, the two remaining U.S. securities firms, Morgan Stanley and Goldman Sachs, applied to become commercial bank holding companies.
Citigroup Inc., the largest U.S. bank by assets, said that federal regulators and the Securities and Exchange Commission (SEC) have subpoenaed information from the bank regarding sales of auction rate securities.
