Topic - Citigroup

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  • ** FILE ** This Tuesday, Oct. 16, 2012, file photo shows the Citibank building in New York. (AP Photo/Mark Lennihan, File)

    Citigroup to pay $7B to settle subprime mortgage case

    Citigroup agreed Monday to pay $7 billion in a landmark settlement with the U.S. for selling bad loans — one of the key causes of the 2007-2008 financial crisis.

  • Initial public offerings scheduled to debut next week

    The following is a list of initial public offerings planned for the coming week. Sources include Renaissance Capital, Greenwich, CT (www.renaissancecapital.com) and SEC filings.

  • President Obama (right) and his chief of staff, Jack Lew, confer. Mr. Lew, who previously served as the president's Office of Management and Budget chief, is said to be under consideration for Treasury secretary. (Associated Press)

    Obama to nominate Lew for Treasury post

    President Obama will announce Thursday afternoon his nomination of White House Chief of Staff Jack Lew to serve as Treasury secretary, a White House official confirmed.

  • ** FILE ** In a Monday, June 18, 2012, file photo, Citigroup CEO Vikram Pandit prepares for a television interview on the floor of the New York Stock Exchange, after he rang the opening bell. (AP Photo/Richard Drew, File)

    After Pandit, a smaller Citi could get smaller yet

    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 nation's third-largest bank.

  • ** FILE ** In a Monday, June 18, 2012, file photo, Citigroup CEO Vikram Pandit prepares for a television interview on the floor of the New York Stock Exchange, after he rang the opening bell. (AP Photo/Richard Drew, File)

    Vikram Pandit steps down as Citigroup CEO

    Vikram Pandit abruptly stepped down as CEO of Citigroup on Tuesday, surprising Wall Street, after steering the bank through the 2008 financial crisis and the choppy years that followed.

  • **FILE** Boeing CEO James McNerney, Jr. attends the first-ever State Department Global Business Conference on Feb. 21, 2012, at the State Department in Washington. (Associated Press)

    Study: Companies paid more to CEOs than in U.S. tax

    Twenty-six big U.S. companies paid their CEOs more last year than they paid the federal government in tax, according to a study released Thursday by a liberal-leaning think tank.

  • Sony group closes on $2.2B EMI publishing purchase

    A group led by Sony Corp. said Friday it has purchased Britain's EMI Music Publishing for $2.2 billion from Citigroup, creating the world's largest music copyrights company with a catalog that includes hits from Motown, The Beatles, Jay-Z and Norah Jones.

  • EMI half sold as Sony closes $2.2B publishing deal

    A group led by Sony Corp. said Friday it has purchased Britain's EMI Music Publishing for $2.2 billion from Citigroup, creating the world's largest music copyrights company with a catalog that includes hits from Motown, The Beatles, Jay-Z and Norah Jones.

  • Sony group closes on acquisition of EMI publishing

    A group led by Sony says it has closed on its acquisition of British music company EMI Music Publishing from Citigroup.

  • ** FILE ** A Bank of America branch is shown in a Charlotte, N.C. (AP Photo/Chuck Burton)

    Moody's cuts credit ratings on 15 major banks

    Moody's Investors Service has lowered the ratings of some of the world's largest banks, including Bank of America, JPMorgan Chase, Citigroup and Goldman Sachs.

  • JPMorgan Chase & Co. stock fell 6 percent Thursday after CEO Jamie Dimon announced a $2 billion loss in a trading portfolio designed to hedge against risks. "There were many errors, sloppiness and bad judgment," Mr. Dimon said. (Associated Press)

    After JPMorgan loss, a call for stricter oversight

    JPMorgan Chase faces intense criticism for claiming that a surprise $2 billion loss by one of its trading groups was the result of a sloppy but well-intentioned strategy to manage financial risk.

  • Economy Briefs: Citi made $2.9B in 1Q; global transactions grow

    Citigroup, which has 4,600 branches in 40 countries, boasts that it is the most global American bank. That reach paid off big time in the first three months of the year.

  • Appeals court rein in judge on SEC-Citigroup settlement

    A federal appeals court said Thursday that a judge likely overstepped his authority when he blocked a $285 million settlement over toxic mortgage securities by calling it bad policy for a regulatory agency to accept a deal that does not include an admission of liability.

  • **FILE** A sign marks Wall Street in New York. (Associated Press)

    Stocks record biggest gains of year; Dow up 218

    Bank stocks turbocharged a rally across the financial markets Tuesday, and all three major stock indexes posted their biggest gains of the year. The Dow Jones industrial average rose 218 points and closed at its highest level since the end of 2007.

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