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Tag Archives: citigroup

U.S. 4Q bank earnings up 37 pct as lending rises

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 ...

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Citigroup to cut 11K jobs

NEW YORK — Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4 percent of Citi’s workforce of 262,000. The bulk of the cuts, about 6,200, ...

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Vikram Pandit steps down as Citigroup CEO

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 ...

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Citi beats expectations after loss on brokerage

NEW YORK — Citigroup said Monday that it beat Wall Street predictions for quarterly earnings after stripping out a big loss on its retail brokerage and other one-time charges. Net income was $3.3 billion, excluding one-time items. That amounts to ...

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Dow average dumps Kraft Foods for UnitedHealth

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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