(All Things Digital) — In the tech and media worlds, Google is a goliath. On Wall Street, at least this year, it’s a disappointment: Shares at the search giant are down some 20 percent for the year to date, while the rest of the market has been more or less flat. So today’s a chance for the […]
(Financial Times) — Citigroup is moving to shrink its consumer finance unit, CitiFinancial, closing hundreds of branches across the country, in an effort to make the troubled unit more attractive to buyers. The restructuring of CitiFinancial, one of the cornerstones of Citi’s original plan for an all-encompassing “financial supermarket”, underlines the management’s desire to put […]
(Bloomberg) — The U.S. Treasury Department plans to sell “up to” 1.5 billion shares of Citigroup Inc. in the government’s biggest step yet to exit the 27 percent ownership of the bank it rescued during the financial crisis. The Treasury will give its agent, Morgan Stanley, “discretionary authority” to sell the amount, and expects to […]
(NYTimes) — The results, which beat analyst expectations and were the highest since the housing crisis began, was a result of the resurgence in the bond market and improvements in the economy, particularly overseas. Both play to Citigroup’s strengths as a major player in fixed income and emerging markets, and come as some of its rivals […]
They lowered their debt levels before reporting to make their balance sheets look less risky.
After a bumpy 2009, the nation's largest banks now profit.
(BBC) The US government is preparing to sell its 27% stake in Citigroup, in what would be one of the largest share sales in history. Some 7.7 billion shares in the bailed-out bank will be sold in tranches throughout 2010, the US Treasury said. Read More…