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SATURDAY, NOVEMBER 7, 2009
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NEWS ABOUT: Citigroup

Citigroup stories: 252 news summaries

1 - 20 of 252 Stories | 1 2 3 4 5 ... 13 Next >>

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 Pay Czar Cuts 
 Bonuses, But 
 Boosts Salaries 

Feinberg beefs up base base to help firms retain talent

Oct 28, 09 1:24 AM CDT
(Newser) - Base pay will increase for the majority of top execs in the finance and auto firms supervised by federal pay czar Kenneth Feinberg. Salaries are being bumped up—by hundreds of thousands of dollars in some cases—as bonuses and other perks are slashed. Despite the salary hikes, all 136... More »

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Chrysler • Citigroup • executive compensation • Bank of America • General Motors • AIG • bonuses • executive bonuses • Kenneth Feinberg • pay czar

Pay Czar Slashes Top Salaries at 7 Bailed-Out Firms

175 top earners will see pay cuts averaging 50%

Oct 21, 09 3:53 PM CDT
(Newser) - President Obama’s pay czar will cut compensation for the 25 highest-paid employees at seven companies that took large amounts of government aid. The 175 executives will face salary reductions of 90%, but with other compensation elements added in, the total reductions average 50%. Ken Feinberg also will require the... More »

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Chrysler • Citigroup • executive compensation • Bank of America • General Motors • AIG • compensation • bailout • GMAC • Wall Street bailout • pay czar

MARKETS

 Dow Down 41; 
 Tech Rises, 
 Banks Fall 

September rally sees slight pullback

Sep 21, 09 3:13 PM CDT
(Newser) - Stock indices finished mixed today after the markets reached what most traders saw as a slight pause in a very strong September, the Wall Street Journal reports. Financials led declines: AmEx fell 2.9%, while Bank of America lost 1.8%. Google rose 1.1% after Citigroup analysts boosted their... More »

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Google • Citigroup • Bank of America • Dow Jones • American Express • Nasdaq • S&P 500

MARKETS

 Dow Up 36 Points; 
 Consumer Stocks Gain 

Indices all post solid gains for the week

Sep 18, 09 3:20 PM CDT
(Newser) - Stocks posted gains today, closing out a strong week as consumer stocks saw advances, the Wall Street Journal reports. Procter & Gamble gained 3.21% after Citigroup upgraded the firm’s shares to “buy.” Optimism about a recovery in consumer spending drove Starbucks up 3.64%, with PepsiCo... More »

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stock market • Starbucks • Citigroup • Dow Jones • Pepsi • Nasdaq • Philip Morris • S&P 500 • Procter & Gamble

(Newser) - Citigroup is drawing up a plan to get out from under the government’s thumb, the Wall Street Journal reports. The bank called the Treasury over the weekend to say it was looking for ways to scale back the government’s investment, outlining a plan in which it would... More »

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Citigroup • Treasury Department • bailout • Wall Street bailout

ANALYSIS

 Post-Lehman, 'Washington 
 Is the New Wall Street' 

Nation's political and financial capitals

Sep 13, 09 11:38 AM CDT
(Newser) - For decades, more than just 228 miles separated Wall Street from Washington, as financiers cast a casual eye at government regulators. But a year after Lehman Brothers’ dramatic implosion, the nation’s financial and political capitals are forging a new, closer relationship that has some concerned, David Cho, Steven Mufson,... More »

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Wall Street • Citigroup • business • Washington • Lehman Brothers • JPMorgan Chase • bank regulation

MARKETS

 Dow Climbs 64 as 
 Investors Await Jobs Report 

Fear of Sept. stock pullback drives gold to 6-month high

Sep 3, 09 3:20 PM CDT
(Newser) - Stocks jumped today on the strength of blue-chip financials after mostly idling. Volume was low as investors waited for the government’s monthly employment report, due tomorrow, the Wall Street Journal reports. AIG and Citigroup rose, while safe-haven buying pushed gold to almost to $1,000 an ounce, a level... More »

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Citigroup • Dow Jones • Nasdaq • AIG • S&P 500 • gold prices • employment report

(Newser) - Just because top banking executives took home hefty paychecks in recent months doesn't mean they'll get to keep the money, reports Reuters. White House pay czar Kenneth Feinberg declared he has clear authority to "claw back" egregious bonuses already paid out by any bank that received federal TARP money.... More »

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Chrysler • Citigroup • executive compensation • Bank of America • Goldman Sachs • General Motors • bailout • GMAC • American International Group • executive bonuses • Kenneth Feinberg • pay czar

 US Banks Hiring Again 
 After Layoffs, Bailouts 

But headhunting 'selective,' notes banker

Aug 11, 09 7:25 AM CDT
(Newser) - After cutting thousands of jobs over the past two years, American banks are rushing to fill them again as business picks up, Reuters reports. “Back in March and April, no one really knew if the investment banking business was going to exist again," said a search firm exec.... More »

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Wall Street • Citigroup • Bank of America • Goldman Sachs • Morgan Stanley • employment • JPMorgan Chase • banks • financial crisis • hiring

(Newser) - American banks will pull in $38.5 billion in overdraft fees this year, a record sum that's largely coming from pockets of the poorest and most indebted consumers. According to the Financial Times, banks hiked fees on overdrafts and credit cards as the financial crisis took hold; this year's take... More »

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Citigroup • Bank of America • debt • bank • credit • banking • consumer debt • JPMorgan Chase • overdraft fee

Obama's Pay Czar Meets With Bailed-Out Firms

Must make tricky decision on how much top execs get paid

Aug 9, 09 12:34 PM CDT
(Newser) - Kenneth Feinberg has one of the hardest jobs in America: Filling in the amount on the paychecks of top execs at the seven firms that received the biggest government bailouts, the Washington Post reports. Feinberg has the power to set the pay for the 125 most highly paid employees at... More »

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Citigroup • executive compensation • Bank of America • AIG • GMAC • performance pay • Kenneth Feinberg

(Newser) - The White House has asked Citigroup, which is administering the Cash for Clunkers program, to double or even triple the number of workers processing paperwork, Bloomberg reports. That move could clear up a backlog of dealer applications that grew with the surprise success of the program. The administration also says... More »

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Congress • Citigroup • Senate • application • Obama administration • Cash for Clunkers • federal funding • Car Allowance Rebate System • backlog

(Newser) - CEOs and investors have springs in their steps. After a week full of positive earnings reports, many now believe worst is over, the Wall Street Journal reports. Yesterday saw a slew of reports that matched or beat estimates, including Motorola, Goodyear, Sony, and Kellogg Co. The economy “has... More »

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stock market • Citigroup • earnings reports • Kellogg • Ford • corporate earnings • second quarter earnings • Dow Chemical Co. • economy

TARP-Funded Banks Kept Awarding Bonuses

Firms paid more than they made: Cuomo

Jul 30, 09 12:52 PM CDT
(Newser) - The financial crisis and government bailouts did little to change Wall Street’s executive compensation habits, New York's attorney general says. All nine banks given assistance by TARP paid out bonuses in 2008—well before any paid back government loans, according to a survey ordered by Andrew Cuomo. Goldman Sachs,... More »

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Citigroup • executive compensation • Bank of America • Goldman Sachs • Merrill Lynch • Andrew Cuomo • bonuses • bailout • Troubled Asset Relief Program • Wall Street bailout • TARP

(Newser) - Andrew J. Hall, the man who runs Citi’s shadowy energy-trading unit, is demanding the company pay him up to $100 million to honor a previously agreed-upon 2009 pay package, the Wall Street Journal reports. If Citi doesn’t pay up, Hall could walk and sue, but paying could... More »

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Citigroup • executive compensation • compensation • trader • TARP • Andrew Hall

Earnings

Bank of America, Citigroup Post Ugly Wins


Jul 17, 09 9:22 AM CDT
(Newser) - Bank of America and Citigroup both posted estimate-topping profits today, but neither inspired much confidence, the New York Times reports. Both numbers hinged on one-time gains from asset sales. In Bank of America’s case, earnings fell 5.5% to $3.22 billion, a number propped up by the... More »

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Citigroup • Bank of America • corporate earnings • second quarter earnings • banking industry

MARKETS

 Financials Propel Dow Up 185 

Big gains for major banks ahead of earnings reports

Jul 13, 09 3:17 PM CDT
(Newser) - Stocks staged a broad rally today as financials soared ahead of earnings reports, the Wall Street Journal reports. Bank of America surged 9%, while Citigroup and JP Morgan Chase rose 6.9%. General Electric, which will also report its second-quarter earnings this week, rose 6.1%. The Dow closed up... More »

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Citigroup • Bank of America • Dow Jones • General Electric • Nasdaq • S&P 500 • JPMorgan Chase

(Newser) - As many Citigroup customers are already painfully aware, the lender has drastically increased rates on some 15 million credit card accounts, the Financial Times reports. Holders of Citi cards co-branded with retailers such as Sears saw their interest rates climb by as much as 24%—or 3 percentage points—between... More »

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Citigroup • credit card • rate increase • Credit Cardholder's Bill of Rights • credit card reform

(Newser) - Citigroup will raise salaries for investment bankers and traders as much as 50% to offset a steep falloff in bonus pay and keep the company’s compensation package competitive, Bloomberg reports. Other employees, like those in the consumer banking section, will receive smaller raises. Citi, which took $45 billion in... More »

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Citigroup • executive compensation • salary • Citibank • investment bankers • bonuses • stock options • financial crisis • Wall Street bailout • traders • raise

MARKETS

 Stocks Mixed; Dow Off 16 

Weak gains for Nasdaq, S&P cap week of losses

Jun 19, 09 3:31 PM CDT
(Newser) - Stocks ended mixed for the day and lower for the week, as gains in financials made up for losses in energy spurred by falling oil prices, MarketWatch reports. Bank of American and American Express each rose about 2%, which analysts saw as investors covering short positions. The Dow fell 15.... More »

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NASDAQ • Citigroup • Dow Jones • American Express • Nasdaq • S&P 500

1 - 20 of 252 Stories | 1 2 3 4 5 ... 13 Next >>


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