This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact The Epoch Times Reprints.
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.
The housing market, home prices, and foreclosures are not much better than they were in 2008, according to an Oct. 22 report from RealtyTrac.
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.
Last Friday federal regulators shut down six more banks in the United States, bringing the total number of bank failures this year to a staggering 125.
Its assets were taken over by regulators and subsequently sold to BB&T Corp.
