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NEWS ABOUT: Citibank

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Citi Losses Shrink in 2nd Quarter, Beat Expectations

Rounds out week of better-than-expected results

(Newser) - Citibank delighted shareholders today by losing a mere $2.5 billion in the second quarter, the Wall Street Journal reports. Analysts had expected much worse from the US’ biggest bank by assets, but Citi beat expectations by reducing writedowns and slashing jobs. The results should prove a counterweight to the... More »

Heeeeeeeeeeeeere's a Lawsuit!

$200K suit adds to McMahon's financial woes

(Newser) - Citibank has filed suit against former Johnny Carson sidekick Ed McMahon to recover $200,000 it loaned to the struggling actor, the AP reports. McMahon, 85, who has not worked since falling 18 months ago, also faces foreclosure on his Beverly Hills home. “If you spend more money than... More »

Banks Cut Colleges Eligible for Student Loans

Students at 2-year, non-elite 4-year schools left in the lurch

(Newser) - Students at 2-year and some less competitive 4-year colleges will be having a tougher time finding loans as banks trim the list of colleges they serve, reports the New York Times. In a move that potentially shuts out some of the neediest students, Citibank, JPMorgan, PNC, and SunTrust all say... More »

Wounded Bear Scrambles for a Savior

Stearns hopes to find a quick buyer in troubled times

(Newser) - What's next for Bear Stearns? A Wall Street institution for the better part of a century, it is now scrambling to find a buyer. Its best hope is JP Morgan, which provided a temporary lifeline yesterday along with the Fed. But other possible suitors include Citibank and HSBC, the Wall ... More »

They're Back From the Dead

5 brands that were revived by dramatic intervention

(Newser) - These five companies were flatlining until they made bold management decisions.  Business Week tells you how they did it.
  1. Nintendo: The Wii dared to market to families and non-gamers
  2. Audi:  Banked on engineering and prowess and didn't get distracted
More »

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