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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: Citigroup

Citigroup stories: 252 news summaries

81 - 100 of 252 Stories | << Prev 1 2 3 4 5 6 7 8 9 ... 13 Next >>

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Advertising With TARP Funds Is Tricky Business

The public increasingly is taking a hard look at how TARP funds are spent

Feb 9, 09 8:00 AM CST
(Newser) - Companies that received TARP funds are being forced to deal with some unexpected fallout: the ire of taxpayers who see sponsorships and ad campaigns as frivolous wastes of rescue dollars, reports Advertising Age. But execs at those companies say that to pay back those borrowed monies, they must develop new... More »

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Citigroup • Bank of America • General Motors • financial crisis • TARP

OPINION

Citi's Mets Deal Makes Sense in the Long Run

$400M, over decades, will generate lots of publicity, help pay back bailout funds

Feb 4, 09 2:31 PM CST
(Newser) - Citi’s $400 million naming-rights deal with the New York Mets may seem “tone-deaf and stupid” after the bank took $45 billion in bailout funds, Daniel Gross writes in Newsweek—but it’s a good idea. “Companies—even companies getting bailed out by the feds—need to attract... More »

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advertising • Citigroup • New York Mets • Citibank • baseball • corporate sponsorship • Citi Field • financial crisis • Wall Street bailout • TARP • naming rights

Citigroup Sues Pawnshop Over Similar Name, Logo

Struggling bank seeks all profits made by Brooklyn's All Citi Pawn

Feb 3, 09 3:41 PM CST
(Newser) - Citigroup is suing a Brooklyn pawnshop for copyright infringement, the New York Post reports. The logo for All Citi Pawn sports the distinctive “i” and a similar red mark over the “t.” Citigroup’s suit demands the pawnshop fork over all profits made since it adopted the... More »

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Citigroup • copyright • bank • lawsuit • Citibank • copyright infringement • pawn shop

Citi May Bail on $400M Marketing Deal With Mets

The call to spend taxpayer money more wisely may overshadow agreement

Feb 3, 09 7:28 AM CST
(Newser) - Citigroup, trying to duck controversy over its use of taxpayer bailout dollars, is considering  reneging on a $400 million marketing deal with the New York Mets, the Wall Street Journal reports. The 20-year partnership—which includes naming the Mets new stadium Citi Field—may be scratched because Citi accepted $45... More »

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Citigroup • New York Mets • baseball • Shea Stadium • bailout • Citi Field • financial crisis • TARP

MARKET Open

 Stocks Follow Europe Down 

Dow dives 110 on heels of big declines overseas

Feb 2, 09 8:49 AM CST
(Newser) - US stocks fell at today’s open, tracking big declines overseas, the Wall Street Journal reports. The Dow was off 110 points, while the S&P and Nasdaq fell 1.2% and 0.9% respectively. Among the big losers were Bank of America, down 7%, and Citigroup, down 6.5%,... More »

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stock market • Citigroup • Bank of America • Nasdaq • Dow • Dow Jones Stoxx 600 • S&P 500 • financial crisis

MARKETS

 Dow Up 201 on Fed News 

Obama plan for 'bad bank' inspires confidence

Jan 28, 09 3:10 PM CST
(Newser) - The Fed’s announcement today that it will keep target rates near zero sustained a rally led by financials, the Wall Street Journal reports. Financials continued to rise off the Obama administration’s plan to create a “bad bank” to buy toxic assets, with the Financial Select Sector Fund,... More »

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Ben Bernanke • Citigroup • Bank of America • Federal Reserve • Dow Jones • Nasdaq • S&P 500 • financial stocks

MARKET Open

 Stocks Soar on Bank Hopes 


Jan 28, 09 8:52 AM CST
(Newser) - Stocks skyrocketed at today's open, spurred by reports that the Obama administration would likely form a “bad bank” to buy up illiquid assets. The Dow jumped 110 points, and the S&P and Nasdaq gained 1.9% and 1.8% respectively. Banking stocks led the way, with Citigroup leaping... More »

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stock market • Citigroup • Bank of America • Wells Fargo • Nasdaq • Dow • banking • S&P 500

ANALYSIS

Pfizer Deal's $22.5B in Loans Hasn't Unlocked Credit

$22.5B loan in deal to acquire Wyeth comes at 7-9% interest, and lenders can walk

Jan 27, 09 9:11 AM CST
(Newser) - Think Pfizer’s $68 billion deal to buy Wyeth, financed in part with $22.5 billion in loans, means credit markets have thawed? Think again, the Wall Street Journal reports. Pfizer’s lenders—including JPMorgan, Bank of America, Goldman, and Citigroup—are charging high interest (7%-9%, with loans due in... More »

MORE ABOUT:
Citigroup • Bank of America • Goldman Sachs • pharmaceutical companies • Pfizer • credit market • Wyeth • JPMorgan Chase • credit rating

 Team Obama Nixes 
 Citi's Private Jet Buy 

Treasury tells bailed-out bank to ditch $50M plane

Jan 27, 09 7:58 AM CST
(Newser) - Hours after the New York Post trumpeted Citigroup's plan to go through with the purchase of $50 million, French-made private jet yesterday, Citigroup got a call from Treasury telling the bank to think again. The Obama administration has made a lot of noise about enforcing accountability on bailout funds, Politico... More »

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Citigroup • Treasury Department • bailout • private jet • Obama administration • financial crisis • President Obama

Citigroup Drops $50M on Fancy Corporate Jet

... After taking $45B in federal bailout funds, fumes indignant Post

Jan 26, 09 12:26 PM CST
(Newser) - Citigroup may be going down in flames, but at least the seats will be nice. Citigroup is buying a brand-new $50 million corporate jet, the New York Post reports, headlining the sale, “JUST PLANE DESPICABLE,” on account of the $45 billion the company has received from Uncle... More »

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Citigroup • New York Post • luxury travel • corporate governance • bailout • private jet • financial crisis • recession depression

ANALYSIS

Big Banks' Lending Drops
Despite Bailout Cash

Banks say funds can't go straight to loans, and recession cuts down on would-be borrowers

Jan 26, 09 10:23 AM CST
(Newser) - Lending is down at some of the biggest beneficiaries of the $148 billion the Treasury hoped would get US banks lending again, the Wall Street Journal reports. Of 13 banks to receive major government backing, 10 saw a decline in their outstanding loan balances between the third and fourth quarters... More »

MORE ABOUT:
Citigroup • Bank of America • loans • Treasury Department • bailout • Obama administration • banks • financial crisis • TARP

Analysis

Nationalizing Banks Looks More and More Likely

Case for Nationalization grows

Jan 26, 09 9:35 AM CST
(Newser) - Team Obama is coming closer and closer to using the N-word they've been studiously avoiding: nationalize. Already the government is the top shareholder at both Bank of America and Citigroup, and with both banks in freefall, many think buying the rest is the only option. “I would guess that... More »

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Barack Obama • Citigroup • Bank of America • nationalization • Obama administration • banking industry • financial crisis

Wary of Image, Financial A-Listers Ditch Glitzy Davos

Top bankers, Obama advisers to skip Swiss summit

Jan 26, 09 8:01 AM CST
(Newser) - The swanky Davos economic summit was once a top destination for financial and economic power players, but many are skipping the glitz this year for fear of sending the wrong message in a tanking economic climate, Reuters reports. Treasury secretary-designate Timothy Geithner is sitting out the resort event, as are... More »

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Citigroup • Bank of America • CEO • Switzerland • Merrill Lynch • John Thain • Vikram Pandit • World Economic Forum • Davos • Timothy Geithner • Lawrence Summers

 Pfizer Snaps Up Wyeth for $68B 

Merger would be largest pharma deal since GlaxoWellcome-SmithKline 2000 merger

Jan 26, 09 6:11 AM CST
(Newser) - The world’s largest drugmaker, Pfizer, is poised to become even more gargantuan after it agreed early this morning to buy rival Wyeth for $68 billion, reports the Wall Street Journal. In the first major merger to hit Wall Street in months, Pfizer will borrow $22.5 billion from... More »

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Citigroup • Bank of America • Goldman Sachs • pharmaceutical companies • mergers and acquisitions • merger • Pfizer • credit • Wyeth • pharmaceutical industry • JPMorgan Chase • financial crisis

MARKETS

 Dow Ends Blah Week Down 45 

Financials see gains for the day

Jan 23, 09 3:42 PM CST
(Newser) - Stocks were mixed today as bargain buying in the financial sector bolstered some amid a torrent of poor earnings and outlooks from GE, Xerox, Harley Davidson, and AMD, MarketWatch reports. The Dow fell 45.24 points to close at 8,077.56. The Nasdaq gained 11.80, closing at 1,... More »

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

Ex-Time Warner Chief Will Lead Citigroup

Richard Parsons, an Obama adviser, will
be chair of ailing bank

Jan 21, 09 7:57 PM CST
(AP) - Former Time Warner CEO Richard Parsons—an economic adviser on Barack Obama's transition team—will become the new chairman of Citigroup next month. The ailing bank has suffered five straight quarters of losses and received $45 billion in government aid as it struggles to stay afloat amid the credit crisis.... More »

MORE ABOUT:
Citigroup • Richard Parsons • CEO • credit crisis • banking industry

MARKETS

 Financials Kick Dow Up 279 

Stocks rebound after dismal Inauguration Day

Jan 21, 09 3:22 PM CST
(Newser) - A rebound in the financial sector today and qualified confidence in President Obama’s stimulus plan drove stocks to recover some of yesterday’s large losses, MarketWatch reports. The Dow gained 279.01 to close at 8,228.10. The Nasdaq added 66.21, closing at 1,507.07, and... More »

MORE ABOUT:
Citigroup • Bank of America • Toyota • Dow Jones • General Motors • IBM • Nasdaq • economic stimulus package • S&P 500 • President Obama

MARKETS

 Dow Tumbles 332, Below 8,000 

Obama inauguration can't break Street's gloom

Jan 20, 09 3:21 PM CST
(Newser) - A spirit of optimism swept through America today as Barack Obama was sworn in—except on Wall Street, where financial trouble at home and in the UK sent the Dow below 8,000 for the first time since November, the Journal reports. The Dow fell 332.13 to close at... More »

MORE ABOUT:
Citigroup • Bank of America • Barclays • Dow Jones • Nasdaq • Britain • S&P 500 • financial crisis

MARKETS

 Dow Gains 68 Despite Banks 

Options expirations cause market volatility

Jan 16, 09 3:29 PM CST
(Newser) - US stocks clawed back to gains today amid turmoil in the financial sector and volatile price swings stemming from the expiration of January options contracts, MarketWatch reports. Although 100 points off its open at midday, the Dow finished with a gain of 68.73, to 8,281.22. The Nasdaq... More »

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Citigroup • Bank of America • Barclays • Dow Jones • Nasdaq • S&P 500 • financial stocks

ANALYSIS

Feds' Bank
Aid Smacks of Nationalization

Washington may have no choice but to take majority stakes

Jan 16, 09 9:18 AM CST
(Newser) - The federal government may be forced to effectively nationalize some of America's biggest banks, a notion gaining traction as Bank of America and Citigroup teeter on the brink of insolvency. While Washington has shown extreme reluctance to take ownership stakes in corporate banks, it may now have no choice, the... More »

MORE ABOUT:
Ben Bernanke • Wall Street • Citigroup • Bank of America • nationalization • bailout • Obama administration

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