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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: Citibank

Citibank stories: 28 news summaries

1 - 20 of 28 Stories | 1 2 Next >>

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 50% Pay Cuts 
 for Bailout Execs 
 Due Today 

Warren confirms cuts to 25 top earners at 7 companies

Oct 22, 09 9:40 AM CDT
(AP) - The Treasury Department today is expected to order seven companies that have not paid back last year's US government bailouts to halve their top executives' average compensation. The cuts apply to the 25 highest-paid executives at banks and other companies that received the most assistance, with salaries being slashed by... More »

MORE ABOUT:
Chrysler • executive compensation • Bank of America • General Motors • Citibank • AIG • Treasury Department • Obama administration • Wall Street bailout • TARP • Elizabeth Warren • Kenneth Feinberg

PAUL KRUGMAN

 In Switch, 
 'Real Economy' 
 Hits Big Banks 

Slumping profits are 'payback' from Main Street whipped by bad practices

Oct 19, 09 9:49 AM CDT
(Newser) - Those concerned about the nation’s banks should forget about the “softly, softly policy” of the Obama administration that has allowed Goldman Sachs to go back to business as usual in spectacular fashion. The real problem, Paul Krugman writes, is banks like Citi and Bank of America that are... More »

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Bank of America • Goldman Sachs • recession • Citibank • credit crisis • Paul Krugman • lending practices • Larry Summers • Obama administration • financial crisis • economic downturn

ANALYSIS

Top Wall Street Execs Have Direct Line to Geithner

Treasury chief's calendars show frequent contact with big players

Oct 8, 09 6:22 PM CDT
(AP) - A look at Timothy Geithner's phone calendars show the Treasury secretary has maintained close ties with Wall Street executives he has known for years. Executives at Goldman Sachs, JPMorgan, and Citigroup can reach the nation's most powerful economic official at will. While there's nothing inherently wrong with keeping tabs on... More »

MORE ABOUT:
Barack Obama • Goldman Sachs • Freedom of Information Act • Citibank • Treasury Department • Barney Frank • Lloyd Blankfein • JPMorgan Chase • Obama administration • Jamie Dimon • President Obama • Timothy Geithner

Dylan Album Out Early—if You've Got a Citi Card 

Loyal Citibank customers get a 1-week jump on the rest of us

Sep 30, 09 10:20 AM CDT
(Newser) - Citibank rewards customers will have first dibs on Bob Dylan’s first-ever Christmas album. The lucky cardholders will be able to download Christmas in the Heart online during the week before Oct. 13, when it goes on sale to the general public. An exec tells Reuters the offer will... More »

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music downloads • Bob Dylan • Citibank • digital music • rewards programs • Christmas album • cardholder

(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

(Newser) - Forget new drinks—Starbucks should try adding a new sector, writes John Gapper in the Financial Times: banking. It might sound ridiculous to pair cappuccinos and checking accounts, but Starbucks’ 7,000 branches outstrip Bank of America, and, in Gapper’s plan, it wouldn’t even need tellers. Starbucks could... More »

MORE ABOUT:
Starbucks • Citibank • banking industry • online banking

(Newser) - Banks who have taken TARP funds from the government are getting creative about the immigration restrictions that come with the bailout, the Wall Street Journal reports. Financial institutions relying on government assistance cannot hire foreign workers unless they prove that they have exhausted the supply of native talent. So... More »

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Goldman Sachs • foreign labor • Citibank • employment recruiting • investment banks • JPMorgan Chase • Wall Street bailout • TARP • overseas

(Newser) - A sign of the times: Citibank shares are now eligible for your local dollar store. The bank’s shares fell below $1 for the first time ever today in trading, MarketWatch reports. They reached 97¢ at midday, about 2 years after trading at an all-time high of $57. Investors apparently... More »

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shares • Citibank • banking industry • financial crisis

MARKETS

 Dow Falls 119 on Citi Fears 


Feb 27, 09 3:23 PM CST
(Newser) - The government’s move to downgrade its shares in Citigroup pushed the Dow down today, Bloomberg reports. Not helping was news that GDP contracted 6.2% in the last quarter, and the end to a weeklong rally by other big banks. The Dow fell 119.15, to 7,062.93;... More »

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stock market • NASDAQ • New York Stock Exchange • Dow Jones • Citibank • Federal government • S&P 500

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 »

MORE ABOUT:
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 »

MORE ABOUT:
Citigroup • copyright • bank • lawsuit • Citibank • copyright infringement • pawn shop

ANALYSIS

 Will US 
 Nationalize 
 Banks? 

As red ink continues to flow, more experts say some nationalization is likely

Jan 16, 09 8:00 AM CST
(Newser) - With US banks likely to need as much as $2 trillion in capital in coming months, more experts are seeing semi-nationalization as a distinct possibility, writes Reuters reporter Dan Wilchins. The government already is using its $700 billion bailout to put pressure on banks. The Obama administration is on record... More »

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Bank of America • nationalization • Citibank • banking industry • financial crisis

(Newser) - Say goodbye to the Citigroup empire. When the company releases its earnings next week, it'll also unveil a drastic plan to slice away businesses until it’s roughly two-thirds of its current size, the Wall Street Journal reports, and looks much like Citicorp did before the merger that created... More »

MORE ABOUT:
Citigroup • Morgan Stanley • Citibank • Vikram Pandit • Smith Barney

(Newser) - Rumors of Citigroup’s plan to merge its brokerage unit with that of Morgan Stanley have proven true, as both companies’ boards approved the move today, CNBC reports. Morgan Stanley will control 51% of the joint venture between its operation and Citi’s Smith Barney. Observers see Stanley’s option... More »

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Citigroup • merger • Morgan Stanley • Citibank • brokerage • bailout • Smith Barney • TARP

MARKET Open


 Stocks Drop on 
 Alcoa Downer,
 Bernanke Calls
 for More Bailout 
 

Bernanke sounds all pessimistic

Jan 13, 09 8:48 AM CST
(Newser) - Stocks took a modest drop at the open, in the wake of a grim report from Alcoa and even grimmer words from Ben Bernanke, who said the strength and timing of the global recovery are “highly uncertain,” and that Obama’s stimulus won’t produce sustainable results without... More »

MORE ABOUT:
Ben Bernanke • stock market • Bank of America • Alcoa • finance • Nasdaq • Citibank • Dow • S&P 500

MARKETS

 Stocks End Mixed; Dow Up 25 

Good news from RIM, Oracle help lift tech sector

Dec 19, 08 3:45 PM CST
(Newser) - Stocks ended mixed today as a rally on the news of a White House bailout for the auto industry fizzled over concerns for the larger economy, MarketWatch reports. General Motors led advancing stocks with a 22.7% gain, and the Dow closed up 25.88 at 8,579.11. The... More »

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Citigroup • Bank of America • Goldman Sachs • Dow Jones • General Motors • Nasdaq • Citibank • auto industry • S&P 500 • financial crisis

 Errors Apparent: 
 2008's Worst 
 Predictions 

magazine recalls year's worst punditry

Dec 13, 08 4:42 PM CST
(Newser) - Presidential candidate Bloomberg? Nope. Russia invading the Ukraine? Hardly. Foreign Policy takes a look back at the worst predictions of the year:
  • A stabilized banking system: Shortly after Henry Paulson forecast stability on Wall Street, Citigroup’s stock price dropped 75% and closed below $5 for the first
... More »

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Henry Paulson • Michael Bloomberg • Citibank • $100 a barrel oil • Kenyan elections • Best of 2008 • William Kristol

analysis

 Citi Rescue 
 Could Lead to 
 More Trouble 

Rivals may take risks, expecting taxpayer protection

Nov 25, 08 7:23 AM CST
(Newser) - The Citigroup rescue bolstered confidence in the financial sector in the short term, but in the long term it could spell more trouble for taxpayers and other struggling banks, writes Eric Dash in the New York Times. Other banks will see the bailout as a template for future ones—giving... More »

MORE ABOUT:
Citigroup • Citibank • bailout • banks • banking industry • financial crisis

 Feds OK 
 Massive $20B 
 Citigroup Bailout 



Taxpayers will also back $300 billion in shaky debt

Nov 24, 08 3:49 AM CST
(Newser) - The US will bail out Citigroup with $20 billion in fresh capital and a guarantee to mop up $306 billion in toxic assets, the Wall Street Journal reports. The deal, announced late last night, marks a turning point in the financial crisis: In addition to injecting nearly $300 billion into... More »

MORE ABOUT:
Citigroup • bank • Citibank • bailout • bank failure • rescue package • financial crisis

 Feds, Citigroup Close 
 In on Rescue Deal 

Government could take over losses for troubled financial giant

Nov 23, 08 5:54 PM CST
(Newser) - Citigroup is closer to getting a new round of financial help from the feds, the New York Times reports. Regulators are discussing a plan today for the US to take on losses at the bank if they exceed certain levels. In effect, the plan would create a "bad bank"... More »

MORE ABOUT:
Citigroup • Citibank • share price • financial crisis

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