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Citigroup Inc

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  • NEW YORK, Feb 25- Citigroup Inc said additional government authorities have started probes of possible breaches of anti-money laundering laws at its Banamex USA unit. Treasury, and the California Department of Business Oversight have asked the company for information on its compliance with the Bank Secrecy Act and anti-money laundering rules, Citigroup...

  • Correction: JPMorgan Cost Cuts story Wednesday, 25 Feb 2015 | 5:44 PM ET

    NEW YORK— In a story Feb. 24 about JPMorgan Chase closing bank branches, The Associated Press misspelled the name of a JPMorgan executive. JPMorgan to close 5 percent of bank branches to cut costs. NEW YORK— JPMorgan Chase plans to close 300 bank branches over the next two years, about 5 percent of the total, as more customers move online and the bank seeks to cut costs.

  • WASHINGTON, Feb 25- MetLife Home Loans LLC will pay $123.5 million to resolve alleged Federal Housing Administration mortgage lending violations, the U.S. Department of Justice said on Wednesday. The unit, a subsidiary of MetLife Inc, knowingly violated the False Claims Act between September 2008 and March 2012 by originating and underwriting mortgage loans...

  • Midday Glance: Banks companies Wednesday, 25 Feb 2015 | 1:18 PM ET

    Bank of America Corp. rose$. 04 or. 2 percent, to $16.42. Citigroup Inc. fell$. 18 or. 3 percent, to $51.73. US Bank rose$. 09 or. 2 percent, to $44.81.

  • Sterling steadies after hitting 8-week high Wednesday, 25 Feb 2015 | 1:00 PM ET

    LONDON, Feb 25- Sterling steadied after hitting an eight-week high against the dollar on Wednesday, buoyed by optimism over the UK's economic performance compared with its peers in Europe, which has helped drive British shares to record levels. The gains also seem broadly the product of a steadying of expectations for the Bank of England to deliver an interest...

  • LONDON, Feb 25- Irish 10- year borrowing rates fell below 1 percent for the first time on Wednesday, as debt yields across the euro zone were vanishing before the looming launch of the European Central Bank's bond-buying scheme. Portugal, which is likely to be the big winner of the trillion euro programme, was the other country where 10- year yields fell to record...

  • Early Glance: Banks companies Wednesday, 25 Feb 2015 | 11:23 AM ET

    Bank of America Corp. fell$. 03 or. 2 percent, to $16.35. Citigroup Inc. fell$. 29 or. 6 percent, to $51.61. Wells Fargo fell$. 03 or percent, to $55.35.

  • The products from South Korean firm Celltrion and its partners Hospira and Mundipharma will compete with Remicade, the original branded drug from Johnson& Johnson and Merck& Co.. Unlisted Mundipharma said on Wednesday that it is launching its biosimilar Remsima in Germany, Italy, Britain, the Netherlands, Belgium and Luxembourg, following expiry of relevant...

  • LONDON, Feb 25- Irish and Portuguese bond yields hit all-time lows on Wednesday as fears about a Greek exit from the euro zone receded, leaving investors to refocus on the start in coming weeks of European Central Bank bond purchases. The move cements Ireland's recovery from the debt crisis and its return to capital markets after exiting an international...

  • *Mixed signals in Feb data from China factory sector. *China trader sees copper premiums firm to $90- $95 from $85. LONDON, Feb 25- Copper dipped on Wednesday on uncertainty about China's economic growth and as bearish investors resumed selling when Chinese markets reopened after a break.

  • Too big to manage? HSBC's chiefs grilled over tax scandal Wednesday, 25 Feb 2015 | 4:56 AM ET

    HSBC, Europe's biggest bank, has endured a string of scandals and paid billions in penalties to regulators around the world. But recent revelations that its Swiss private bank helped the wealthy evade taxes are raising new questions about whether big banks like HSBC have become too vast to manage— and who should be accountable when things go wrong.

  • The products from South Korean firm Celltrion and its partners Hospira and Mundipharma will compete with Remicade, the original branded drug from Johnson& Johnson and Merck& Co.. Unlisted Mundipharma said on Wednesday that it is launching its biosimilar Remsima in Germany, Italy, Britain, the Netherlands, Belgium and Luxembourg, following expiry of relevant...

  • Final Glance: Banks companies Tuesday, 24 Feb 2015 | 6:02 PM ET

    Bank of America Corp. rose$. 18 or 1.1 percent, to $16.38. Citigroup Inc. rose$. 58 or 1.1 percent, to $51.90. Goldman Sachs rose $1.91 or 1.0 percent, to $192.22.

  • JPMorgan to close 5% of bank branches Tuesday, 24 Feb 2015 | 2:51 PM ET

    The expense of teller transaction and popularity of online banking leads company to cut brick-and-mortar locations.

  • Most active New York Stock Exchange-traded stocks Tuesday, 24 Feb 2015 | 1:17 PM ET

    NEW YORK— A look at New York Stock Exchange 10 most-active stocks at the close of trading:. AT&T Inc. rose. 6 percent to $34.05 with 18,952,000 shares traded. Bank of America Corp. rose 1.1 percent to $16.38 with 72,538,400 shares traded.

  • Midday Glance: Banks companies Tuesday, 24 Feb 2015 | 1:17 PM ET

    Bank of America Corp. rose$. 25 or 1.5 percent, to $16.45. Citigroup Inc. rose$. 74 or 1.4 percent, to $52.06. Goldman Sachs rose $1.79 or. 9 percent, to $192.10.

  • NEW YORK— JPMorgan Chase plans to close 300 bank branches over the next two years, about 5 percent of the total, as more customers move online and the bank seeks to cut costs. Tellers handled only 42 percent of all bank deposits last year, according to JPMorgan, down from 90 percent in 2007. Along with ATM deposits, banks have introduced technology that only requires...

  • Early Glance: Banks companies Tuesday, 24 Feb 2015 | 11:24 AM ET

    Bank of America Corp. rose$. 11 or. 7 percent, to $16.31. Citigroup Inc. rose$. 41 or. 8 percent, to $51.73. Goldman Sachs rose $1.25 or. 7 percent, to $191.56.

  • US bank earnings drop 7.3 percent in 4Q Tuesday, 24 Feb 2015 | 10:06 AM ET

    The FDIC reported that U.S. banks earned $36.9 billion in the October-December period, down from $39.8 billion a year ago. Three of the biggest U.S. banks— JPMorgan Chase, Bank of America and Citigroup— together posted $4.4 billion in legal costs during the quarter. "The banking industry continued to show further improvement in the fourth quarter, notwithstanding...

  • MILAN, Feb 24- Italian aerospace and defence group Finmeccanica has agreed to sell its rail business to Hitachi Ltd in a deal which will cost the Japanese conglomerate up to 1.9 billion euros and cut Finmeccanica's debt by 15 percent. For Hitachi the acquisition will give it a stronger foothold in Europe where it competes with the world's top three train makers-...