U.S. stocks were pointing to a lower open Monday as Citigroup's second-quarter results kicked off a week chock full of corporate quarterly data.
U.S. stocks closed mixed Monday, with blue-chips gaining and tech shares falling, as investors weighed an upbeat report on retail sales, corporate earnings and renewed worries about Europe.
U.S. stocks were set to open slightly higher Monday, as investors digest another round of earnings and the latest data on retail sales, with anxieties about Europe still looming.
Citigroup will pay $158 million to settle charges that its mortgage unit defrauded the Federal Housing Administration by inaccurately claiming that certain mortgages were eligible for government insurance, government officials announced Wednesday.
Citibank won approval to issue its own credit card in China, making it the first non-Asian bank to enter that market.
Citigroup reported quarterly profit and revenue that fell short of forecasts, driven by ongoing weakness in trading and the unwinding of Citi Holdings, which includes Citi's mortgage servicing business.
A federal appeals court has delayed proceedings in a mortgage securities fraud case brought by the Securities and Exchange Commission against Citigroup.
Bank of America's shares closed below $5 per share Monday, their lowest level since the worst of the financial crisis in March 2009.
The Securities and Exchange Commission is appealing a federal judge's decision last month to toss out a proposed $285 million mortgage securities fraud settlement between the agency and Citigroup.
Citigroup will lay off roughly 4,500 employees over the next few months, CEO Vikram Pandit said Tuesday, as Wall Street continues to bleed jobs amid tough economic times.
Standard and Poor's downgraded the credit ratings of 15 banks Tuesday, after applying new criteria to the world's 37 largest banks.
A judge rejected a proposed $285 million mortgage securities fraud settlement between Citigroup and the Securities and Exchange Commission on Monday, saying the deal was "neither fair, nor reasonable, nor adequate, nor in the public interest."
As protesters find new ways to "Occupy Wall Street", major financial firms have been busy handing out pink slips this week.
The National Credit Union Administration said Monday it became the first federal agency to recover losses on behalf of financial institutions whose failures were tied to bad residential mortgage-backed securities investments.
Citigroup has agreed to pay $285 million to settle Securities and Exchange Commission charges that the bank misled investors about the strength of a security tied to the struggling U.S. housing market.
Citigroup Chief Executive Vikram Pandit said the firm 'continues to navigate a challenging economic environment' as the firm reported earnings and revenue that topped forecasts.
Bank stocks continued to put pressure on the broader stock market Monday.
The fees keep coming. Citi is the latest big bank to slap customers with a round of fee hikes. This time, on its checking accounts.
Investors had no place to hide on Thursday, as stocks and commodities cratered throughout the trading day.
Moody's has declared the era of "too big to fail" over.
Following a slew of corporate data breaches in recent months, you may have received a chagrined letter from a company with which you do business.
Gary Foster, a former Citigroup executive, was arrested Monday on charges he embezzled more than $19 million from the bank.
Citigroup acknowledged that a hack attack last month stole millions of dollars from customers' credit card accounts.
Citigroup has released more details on last month's hack attack, revealing that far more credit card accounts were accessed than originally reported, and took more than three weeks to notify customers.
Citigroup waited up to three weeks before notifying credit card customers that their accounts had been hacked, according to a published report Monday.
Citigroup says it has discovered a security breach in which a hacker accessed personal information from hundreds of thousands of accounts.
If you think trading volume has been anemic in the past few months, you ain't seen nothing yet.
Are you a rock star wannabe? If you're a Citibank customer, you can attend adult rock band camp by cashing in your rewards points.
So much for the notion that financial stocks need to rally in order for the entire market to head higher.
For many Americans living paycheck to paycheck, it just got a little easier to avoid hefty overdraft fees.
Citigroup on Monday announced a 1-for-10 reverse stock split of the company's common shares, and the bank will also reinstate its quarterly dividend.
Citigroup will soon escape penny stock status. Shares of the beleaguered bank have, for the most part, been stuck below the $5 level for the better part of two years.
A possible al Qaeda threat against Wall Street banks prompted counter-terrorism officials to meet with security personnel at several financial institutions, a source told CNN Tuesday.
U.S. stocks will be weighed down by tech and bank shares at Tuesday's open following weak earnings from Citigroup, and worries about Apple CEO Steve Jobs' leave of absence.
Citigroup's India unit has launched an investigation into suspicious transactions based on documents believed forged by an employee, the bank said in a statement.
Former Obama administration budget director Peter Orszag is joining Citigroup's global banking division, the bank said Thursday.
U.S. stocks were poised to open slightly lower Monday as investors shift their focus to the global economic picture.
A decade after his ouster as co-CEO of Citigroup, John Reed has pretty much left capitalism behind -- and he takes a dim view of the titans who have run the place since. In a candid interview with Fortune for a feature profiling former business leaders, Reed explained why his rival Sandy Weill wasn't the "right guy" to run Citigroup, defended Eliot Spitzer's attacks on Wall Street, and said he finds it "amazing" that bankers haven't learned their lessons about risk.
Stocks gained steam to close the session sharply higher Monday, extending last week's rally, on upbeat earnings from Citigroup and improvement in the housing sector.
Bank stocks have been shellacked lately as investors worry about what impact the foreclosure scandal will have on the results for the nation's largest financial institutions.
Citigroup posted third-quarter earnings of $2.2 billion Monday, marking its third straight quarterly profit and beating Wall Street expectations, as the bank continued to trim its loan loss reserves thanks to improving credit trends.
U.S. stocks were poised to slide at the start of trading Monday as investors remained concerned about the state of the overall economy.
Bank fees: They're like a game of Whac-a-Mole. The minute one set is banned, a whole new set pops up.
Citigroup plans to begin paying its chief executive more money next year, whether he likes it or not.
Citigroup said Thursday it would pay $73 million to settle charges by the Securities and Exchange Commission that the bank, as well as two of its executives, misled investors about the company's exposure to the subprime mortgage market.
Stocks slumped Friday after financial firms Bank of America and Citigroup reported weaker quarterly revenue and a plunge in consumer sentiment revived concerns about the economic outlook.
Citigroup posted second-quarter earnings of $2.7 billion Friday, marking its second consecutive profit and beating Wall Street expectations, thanks to improving credit trends.
U.S. stocks were poised for a lackluster open Friday, as investors digested the latest results from Google, General Electric, Bank of America and Citigroup.
Wall Street appears to have beaten Washington to the punch.
2.6 billion shares down, another 5.1 billion to go.
Last October the Federal Reserve issued proposed guidance to banks on the structure of bank pay. The reason for the guidance was the need for banks to change pay so it would no longer encourage the excessive risk taking that led to the financial crisis.
There's some good news for those of us who worry that Wall Street hasn't paid a big enough price for being bailed out by the government. It's that the people with stakes in the worst, most-bailed-out firms have lost a ton of money, even though the Street is back to making obscene profits.
Citigroup denied on Friday the "rumors" that one of its traders caused Thursday's stock market landslide by pressing the wrong key because of a fat finger.
Citibank denied on Friday the "rumors" that one of its traders caused Thursday's stock market landslide by pressing the wrong key because of a fat finger.
The federal government took its first step towards unloading its remaining stake in Citigroup, unveiling plans Monday to sell up to 1.5 billion shares in the banking giant.
Stocks ended mostly higher Monday as investors set aside some worries about the fallout from Goldman Sachs and scooped up financial, consumer and energy stocks.
Citigroup delivered its strongest results since the start of the financial crisis, as the banking giant reported a first-quarter profit of $4.4 billion Monday.
U.S. stocks were poised for an early retreat Monday, after Citi reported quarterly results and as investors remain rattled about fraud charges brought against Goldman Sachs.
SkyBridge Capital has spent five years promoting the idea that start-up hedge funds can outperform the big guys. So what is it doing taking over a chunk of the biggest laggard of them all, Citigroup?
A Congressional panel investigating the causes of the financial crisis criticized two former leaders of Citigroup on Thursday for failing to understand the risks that eventually brought the company to its knees.
Citigroup's soon-to-be spun off life insurance division soared in its market debut Thursday, gaining nearly 28%.
The government hit the jackpot with the Treasury's plan to sell its stake in Citigroup. Good thing, too, because the remaining bailed-out banks may be hard-pressed to pay taxpayers back this year.
The Treasury Department said Monday it was moving closer to unloading its entire stake in Citigroup, but offered little insight into the timing of the sale.
Citigroup CEO Vikram Pandit offered a bold outlook for his troubled firm Thursday, saying he hoped his company would soon be able to deliver profits of approximately $20 billion.
Yes, Citigroup lost billions in the financial crisis. And yes, it's still swimming in toxic assets. But Bruce Berkowitz argues the worst is over.
CitiMortgage, one of the nation's largest mortgage servicers, launches a pilot program Friday designed to ease the pain of some homeowners heading for foreclosure.
Free checking will remain free for a just little bit longer for some Citibank customers.
Citigroup reported a painful fourth-quarter loss of $7.6 billion Tuesday, even amid signs that the worst may be behind the troubled financial giant.
Citigroup's turnaround just keeps on turning.
We all have our year-end rituals. Mine is to examine what I've written during the year, follow up on yesterday's hot stories that have become today's overlooked stories, and to own up to my mistakes of omission and commission.
Citigroup said Wednesday it intends to raise $20.5 billion in the stock market as part of its plan to repay bailout money and free itself from government restrictions.
Stocks gained Monday, with the three leading indexes closing at 14-month highs, after Citigroup said it will pay back government bailout funds and Dubai received $10 billion to cover its debt, easing worries the emirate might default on billions it owes.
Citigroup said Monday it has struck a deal with the government to return $20 billion in bailout money to taxpayers.
Stocks were set to open higher Monday after Dubai secured financing, helping to stem the country's ongoing debt troubles, and Citigroup announced it will repay its bailout funds.
Since March, bank stocks have staged a remarkable turnaround. In just eight months the financial sector of the S&P 500, which was battered in last year's credit storm, has soared 132%
Life might be good again on Wall Street these days, but financial firms are taking pains not to pop the champagne corks this holiday season.
Only a tiny percentage of troubled homeowners have received permanent modifications under President Obama's foreclosure prevention plan, raising concerns about the effectiveness of the $75 billion effort.
Citigroup could face losing its Mexican subsidiary Banamex, after Mexican senators asked the Supreme Court, on Wednesday, to rule whether or not the local bank would be breaking the law by being partly owned by the United States government.
Let me put this as simply as possible, because it isn't really complex, although it is important.
A river of cash has flowed into the biggest banks over the past year. But for borrowers, it has been more of a meandering stream.
updated: Thu Oct 15 2009 22:39:00
Banking giant Goldman Sachs is facing a bonus scandle. ITN's John Sparks reports.
Citigroup's ongoing crusade to return to its former glory as a financial giant may have to wait just a bit longer.
A year after the government applied a tourniquet to the banking industry, the bleeding has slowed -- but it hasn't stopped.
Citigroup announced Friday it had struck a deal to sell its Phibro energy trading business to Occidental Petroleum, a move that will likely reduce scrutiny about the compensation of the division's top trader.
In the second of a two-part excerpt from journalist Duff McDonald's new book, Last Man Standing, Fortune offers up the account of an embarrassing confrontation that led to Jamie Dimon's ouster from Citigroup by Sandy Weill.
Troubled banking giant Citigroup is seeking to scale back the massive stake the government acquired in the company over the past year, according to reports published Tuesday.
Monday was a good day for the markets.
The good news is that Citigroup helped 108,000 people avoid foreclosure during the second quarter, a nearly 30% increase from the previous period.
Banks are still failing left and right, and according to a recent survey of top financial services leaders, a big majority of bank executives think that a recovery in their industry will lag an overall economic rebound.
Citigroup said Tuesday it provided $6 billion in new loans backed by taxpayer money in the latest quarter, with most of those funds going to state and local governments and propping up the housing market.
You now own a big piece of troubled bank Citigroup.
Citigroup surprised Wall Street Friday as the embattled banking giant reported a $4.3 billion profit in the second quarter.
Stocks were set for a mixed open Friday as investors remained cautious despite strong earnings from Citigroup, Bank of America and General Electric, and a government report on the housing market that trumped expectations.
Will the big banks do it again?
Citigroup is making nice-nice with regulators.
Last I checked, the economy's still in recession, unemployment is rising, and consumers are having trouble paying their bills. But you wouldn't know this from looking at what's going on in the credit card world lately.
Bailed out financial giant Citigroup said Wednesday it is going to the raise base salaries of its employees, although it is not planning to increase their total compensation.
The so-called brain drain that big banks have worried about ever since the government stepped in to bail out the financial sector appears to be well underway.
updated: Tue Jun 09 2009 10:36:00
Vikran Pandit, who is paying himself $1 a year until Citibank turns a profit, talks to CNN's Matthew Chance.
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