Thursday 24 July 2014
US bank

Citi mulls more cuts in securities and banking

Citigroup said it may make further cuts in its securities and banking unit in 2012 if revenue does not pick up meaningfully, as the prospect of more layoffs looms large over investment banks globally. The US bank, which said last week that


Kuwait sells Citi stake, makes $1.1bn

Kuwait's sovereign wealth fund said on Sunday it had sold its stake in US bank Citigroup making $1.1 billion in profit. Kuwait Investment Authority (KIA) has transferred the preferred stocks it owned in Citigroup to normal stocks and s


US large-loan bank losses triple to $53 billion

US regulators say that the level of losses from syndicated loans facing banks and other financial institutions tripled to $53 billion in 2009, due to poor underwriting standards and the continuing weakness in economic conditions. According


US to pump $250bn into banks

The United States will pump $250 billion into its banks on Tuesday, following similar measures in Europe, but data showed the threat of recession has not been banished even if a financial sector meltdown has. The Treasury will unveil its p

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