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Citigroup Inc

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  • LONDON, July 7- Tom Hayes, the first person to face trial by jury over allegations he conspired to rig global Libor interest rates, told a London court on Tuesday he had not acted dishonestly and just wanted to do his job as "perfectly as he could". Taking the stand for the first time in the high-profile trial at Southwark Crown Court, the 35- year-old former UBS and...

  • *China slowdown fears drags commodities towards 2015 lows. July 7- U.S. stocks were lower in afternoon trading as concerns of a slowdown in China weighed on commodity prices and investors fretted over aid talks for Greece as it runs out of cash. An emergency euro zone summit, which started at 12 p.m. ET in Brussels, will consider a desperate bid by Greek Prime Minister...

  • *Iran deal could come in next 48 hours. LONDON, July 7- Iran, the United States and five other major powers are trying to reach an agreement to restrain the Iranian nuclear programme in exchange for relief from economic sanctions. Richard Nephew, Program Director at the Center for Global Energy Policy at Columbia University, in New York, said he thought...

  • *Defendant Hayes, former UBS, Citigroup trader, takes stand. LONDON, July 7- Tom Hayes, the first person to face trial by jury over allegations he conspired to rig global Libor interest rates, told a London court on Tuesday he had not acted dishonestly and just wanted to do a good job. Taking the stand for the first time in the high-profile trial at Southwark Crown Court,...

  • July 7- Ireland- based Horizon Pharma Plc said it offered to buy Depomed Inc for about $3 billion, taking its bid hostile after the smaller drugmaker refused to start talks and rejected the proposal first made in May. Horizon Pharma's offer of $29.25 per Depomed share is unchanged from the price it offered on May 27 and represents a 42 percent premium to the stock's...

  • MELBOURNE, July 7- London copper slumped below the $5,500 mark on Tuesday to its lowest in five months as markets turned increasingly negative on China for the near term and waited for the next developments in the Greek debt crisis. "There are an increasing number of people who think from a fundamental perspective, current prices are cheap," Ivan Szpakowski, a Citi...

  • NEW YORK— Greece's debt crisis has spawned its own awkward argot. Wall Street types and economists have been wrestling with language to explain Greece's crisis since it started more than five years ago. Greece, the birthplace of drama, was the setting for a three-act tragedy.

  • MELBOURNE, July 7- London copper fell to a five-month low on Tuesday, as markets turned increasingly negative on China for the near term and waited for the next developments in the Greek debt crisis. "There are an increasing number of people who think from a fundamental perspective, current prices are cheap," Ivan Szpakowski, a Citi analyst in Hong Kong, said of copper.

  • MELBOURNE, July 7- London copper drifted on Tuesday, a day after sliding to five-month lows, as markets waited for the next developments in the Greek debt crisis and monitored stock market moves in China. France and Germany have told Greece to come up with serious proposals in order to restart financial aid talks, after Greeks voted overwhelmingly to reject more...

  • WASHINGTON, July 6- The largest Wall Street banks on Monday published detailed manuals of how to shut down their business during a crisis without the help of taxpayer money, a crucial step to prevent being broken up by regulators. "Our would effectively resolve the firm within a reasonable timeframe, without systemic disruption, without extraordinary...

  • July 6- A U.S. appeals court on Monday upheld the conviction of an Illinois man who prosecutors said made nearly $1.2 million trading on inside information about mergers involving clients of Citigroup Inc, where his brother-in-law worked. The 9th U.S. Circuit Court of Appeals in San Francisco affirmed the conviction of Bassam Salman, who was sentenced in April...

  • BOSTON/ LONDON, July 6- Jeff Feig, the co-chief investment officer of hedge fund Fortress Investment Group LLC's macro fund is leaving the company after less than a year, with Michael Novogratz becoming sole CIO, three sources with knowledge of the changes said. Feig, 48, joined Fortress less than a year ago from Citigroup Inc, where he was a foreign exchange...

  • FOREX-Euro holds ground in face of Greek 'No' Monday, 6 Jul 2015 | 7:22 AM ET

    LONDON, July 6- Foreign exchange markets reserved judgment on Greece's place in the euro and the overall solidity of the common currency project on Monday, prodding the euro just over half a cent lower after Greeks voted' No' to further austerity. The euro had sunk below $1.10 in initial trade in Asia after a vote that a number of major banks said made a' Grexit' the most...

  • *European partners say await new proposals from Greece. ATHENS/ FRANKFURT, July 6- Greece's outspoken finance minister resigned on Monday, removing a major obstacle to any deal to keep Athens in the euro zone after Greeks voted resoundingly to back the government in rejecting the austerity terms of a bailout. Yanis Varoufakis, an avowed "erratic Marxist"...

  • *Family-owned company seeking to expand in US, Asia. The company, which specialises in exhaust technology as well as heating and air conditioning systems, has mandated Citi to help it look at strategic options, including whether to continue without new tie-ups, the sources said. "Eberspaecher does not necessarily need money and partnering with a peer would be...

  • ATHENS/ FRANKFURT, July 6- Greece's outspoken finance minister resigned on Monday, removing a major obstacle to any deal to keep Athens in the euro zone after Greeks voted resoundingly to back the government in rejecting the austerity terms of a bailout. Yanis Varoufakis, a self-proclaimed "erratic Marxist" economist who infuriated euro zone partners with his...

  • Greece's banks could run out of cash within days and the European Central Bank's decision about whether to extend emergency liquidity will be crucial. Banks across Europe were hit by the threat that Greece's problems could spill over to other countries and derail an economic recovery, especially in other peripheral euro zone countries.

  • FOREX-Euro holds up in face of Greek 'No' Monday, 6 Jul 2015 | 3:29 AM ET

    LONDON, July 6- Foreign exchange markets reserved judgment on Greece's place in the euro and the overall solidity of the common currency project on Monday, prodding the euro less than half a percent lower after Greeks voted' No' to further austerity. The euro had sunk below $1.10 in initial trade in Asia after a vote that a number of major banks said made a' Grexit' the...

  • LONDON, July 6- European shares were set for steep falls on Monday, the euro stumbled and yields on weaker euro zone economies' bonds rose after Greece's overwhelming vote against conditions of a rescue package endangered its future in the euro zone. In the wake of Sunday's' No' vote against the bailout conditions demanded by Greece's creditors, bankers said the...

  • ATHENS/ FRANKFURT, July 6- Greece's outspoken finance minister resigned on Monday, removing a major obstacle to any last-minute deal to keep Athens in the euro zone after Greeks voted resoundingly to reject the austerity terms of a bailout. With banks shuttered, cash machines running out of banknotes and sympathy for Athens among EU governments close to...