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Citigroup Inc

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  • NEW YORK, July 1- A U.S. judge has refused to dismiss Allied Irish Banks Plc's lawsuit accusing Citigroup Inc of helping rogue currency trader John Rusnak rack up a $691 million loss. District Judge Deborah Batts in Manhattan said government-controlled AIB may pursue a variety of fraud claims against Citigroup in its lawsuit seeking $500 million of...

  • WARREN, N.J.— Insurer Ace Ltd. is buying The Chubb Corp. for about $28.3 billion in cash and stock in a deal that will create one of the world's largest insurers. The combined company plans to use the Chubb name and will have its main offices in Zurich, Switzerland, where Ace is based. Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of Ace Ltd....

  • LONDON/ BENGALURU, July 1- Iran will increase its oil exports by up to 60 percent within a year if it can agree a nuclear deal with world powers bringing an end to sanctions, a Reuters survey of analysts said on Wednesday. A poll of 25 oil analysts from leading banks and brokerages forecast Iran would be able to raise crude oil output by between 250,000 and 500,000...

  • NEW YORK, July 1- In September 2008, JPMorgan Chase& Co executives sifted through the rubble of Washington Mutual, the failed home loan bank that they had just won in a U.S. government auction. "It was an unexpected bonus," JPMorgan Chief Executive Jamie Dimon told Reuters in an interview, adding that the apartment lending business is the single most valuable asset...

  • LONDON, June 30- Tom Hayes, the former UBS and Citigroup trader on trial in London on Libor rigging charges, told a broker to pay Hayes' 1,000 pound restaurant bill as a reward for giving the broker business, a court heard on Tuesday. Hayes, a former yen derivatives trader based in Tokyo, was on gardening leave from UBS at the time in 2009, having been hired by Citigroup...

  • *Brazil, Iraq seen as top global oil supply contributors. LONDON, June 30- Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years, leading to a price spike that would give a new boost to the U.S. shale industry. Brazil and Iraq had been expected to add over 2...

  • LONDON, June 30- Euro zone stocks and low-rated bonds recovered the worst of their losses on Tuesday but remained on edge as Greece looked set to default on a debt repayment to the IMF and plunge deeper into financial crisis. The breakdown of talks between Athens and international creditors over the weekend has led Greece to close its banks and impose capital...

  • TOKYO, June 30- General Electric Co said it would sell its European private equity financing business to a unit of Japan's Sumitomo Mitsui Banking Corp for about $2.2 billion as the U.S. conglomerate sheds financial assets amid a restructuring. This makes the deal attractive to the core banking unit of Japan's third largest bank, Sumitomo Mitsui Financial...

  • *Controls lasted years in Cyprus and Iceland. *Greece could stabilise banks but system may go bankrupt. ATHENS/ LONDON, June 29- Capital controls imposed in Greece are likely to stay in place for months and its banks may need billions of euros of new capital or even face nationalisation under a lengthy financial rebuilding, industry sources said.

  • *Controls lasted years in Cyprus and Iceland. *Greece could stabilise banks but system may go bankrupt. ATHENS/ LONDON, June 29- Capital controls imposed in Greece are likely to stay in place for months and its banks may need billions of euros of new capital or even face nationalisation under a lengthy financial rebuilding, industry sources said.

  • Would Greece thrive in a 'drachma world'? Monday, 29 Jun 2015 | 11:00 AM ET
    Would Greece thrive in a 'drachma world'?

    "The bounce back for Greece would probably be easier in a drachma world," Antonin Jullier, global head of equity trading strategy at Citi, tells CNBC.

  • *Copper steady after China central bank cuts rates. LONDON, June 29- Nickel hit a six-year low on Monday as the Shanghai Futures Exchange approved three new nickel brands for delivery against its contracts, and as persistently high stockpiles and risk aversion over Greece weighed on the market. Copper bucked the wider downward trend in metals, rising on hopes...

  • China trumps West in global bank ratings Monday, 29 Jun 2015 | 9:25 AM ET
    White-collars walk to their lunch break in Pudong business district in Shanghai, China.

    Western banking giants are losing ground to China, as the world's second-biggest economy vies to establish its economic influence.

  • *Copper steady after China central bank cuts rates. LONDON, June 29- Nickel prices hit their lowest in six years on Monday, falling in response to stubbornly high stockpiles and risk aversion over the Greek debt crisis, while copper steadied on hopes that China's economy is levelling out. The dollar rose against the euro, while global equities and commodities such...

  • *Copper steady after China central bank cuts rates. LONDON, June 29- Nickel prices broke below $12,000 a tonne to hit their lowest in six years on Monday after sliding on rising stockpiles and risk aversion over Greece, while copper steadied on hopes that China's economy is levelling out. The dollar rose against the euro, while global equities and commodities such...

  • Greek Prime Minister Alexis Tsipras leaves the European Council headquarters after a summit in Brussels.

    Investors believe the global economy is positioned to weather Greece's potential exit from the euro zone, Jason Trennert of Strategas said.

  • MELBOURNE, June 29- London nickel skidded to its lowest in six years on Monday, as risk aversion over Greece compounded selling pressure set off by weak stainless steel demand and chart-based sales. LME inventory is dropping... a few months more of robust China import trade and I can see price appreciation towards the end of the year, "said analyst Dan Morgan at UBS in...

  • LONDON, June 29- European bank shares stumbled towards their biggest daily fall for four years on Monday, led by big lenders in Italy, Spain and France, after Greece closed its banks and imposed capital controls as it faced the prospect of leaving the eurozone. Greece plans to hold a referendum next Sunday on the terms of a bailout plan from creditors, which prompted...

  • LONDON, June 29- China's banks are strengthening their position as the best capitalised and biggest profit makers in the world, a study showed on Monday. Industrial and Commercial Bank of China's $59.1 billion profit last year topped the rankings, ahead of China Construction Bank, Agricultral Bank of China and Bank of China. U.S. bank Wells Fargo ranked fifth with...

  • LONDON, June 28- Global financial markets are braced for a wave of contagion from Greece on Monday, with expected heavy losses for southern European government bonds and regional stock markets as investors scramble to discount a possible "Grexit" that most had still assumed was unlikely as late as Friday afternoon. "That is going to have a real big impact on...