WASHINGTON — Profits at U.S. banks jumped almost 37 percent for the October-December period, reaching the highest level for a fourth quarter in six years as banks continued to step up lending. The figures are fresh evidence of the industry’s ...Read More »
Citigroup’s fourth quarter earnings fell short of Wall Street’s expectations as the bank’s legal expenses rose and it released less money from its loan-loss reserves. The bank, based in New York, said a big chunk of the legal expenses came ...Read More »
NEW YORK — The young Citigroup analyst was researching Facebook before it went public. He dropped an email to two of his buddies at a popular technology blog, leaking them information about Citigroup’s research that was supposed to be private. ...Read More »
NEW YORK (AP) — The incredible shrinking bank may have to shrink more. In the hours after Tuesday’s surprise announcement that Citigroup CEO Vikram Pandit was stepping down, speculation was rife, and facts scant, about what lay ahead for the ...Read More »
Vikram Pandit abruptly stepped down as CEO of Citigroup on Tuesday, shocking Wall Street, after steering the bank through the 2008 financial crisis and the choppy years that followed. Pandit’s replacement, effective immediately, is Michael Corbat, who had been CEO ...Read More »
NEW YORK — Citigroup isn’t as enthusiastic as its peers about a comeback in the housing market. On Friday, executives at Wells Fargo and JPMorgan Chase declared that the long-struggling market had turned a corner. On Monday, Citigroup’s top number-cruncher ...Read More »
NEW YORK — The Dow Jones industrial average is dumping Cool Whip for copays. The Dow, perhaps the most widely known barometer of the U.S. stock market, announced Friday that it would boot Kraft Foods to make room for UnitedHealth ...
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