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Citigroup Inc

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  • LONDON, May 20- The European Central Bank said on Wednesday it would stop providing journalists embargoed copies of its speeches, as a storm grew over one of its top policymakers giving hedge funds a head start on market-sensitive information. On Monday, ECB Executive Board member Benoit Coeure gave a speech to an invitation-only dinner of fund managers,...

  • Bank punishment 'won't change anything': Lawyer Wednesday, 20 May 2015 | 5:31 PM ET

    Punishments leveled on international banks involved in foreign exchange rate manipulation "won't change anything," an attorney said.

  • What's today's $5 billion banking settlement about? Wednesday, 20 May 2015 | 5:07 PM ET

    Traders at four banks— JPMorgan Chase, Citigroup's banking unit Citicorp, Barclays and the Royal Bank of Scotland— conspired to fix rates on U.S. dollars and euros at the expense of clients from 2007 to 2013. Another bank, Switzerland's UBS, agreed to plead guilty to manipulating key interest rates and will pay a separate criminal penalty. In a hypothetical...

  • *Minutes in line with interest rate expectations. May 20- U.S. stocks ended marginally lower on Wednesday after Wall Street saw little in the minutes from last month's Federal Reserve meeting to alter expectations of when the central bank will raise interest rates. "They didn't give much tangible evidence that they were going to do anything different than what...

  • *Barclays fined $2.4 bln, fires 8 employees. Citi, Barclays, JP Morgan and RBS plead guilty. Citigroup Inc, JPMorgan Chase& Co, Barclays Plc, UBS AG and Royal Bank of Scotland Plc were accused by U.S. and UK officials of brazenly cheating clients to boost their own profits using invitation-only chat rooms and coded language to coordinate their trades.

  • Traders work on the floor of the New York Stock Exchange.

    U.S. stocks closed narrowly mixed as the Fed minutes mostly confirmed market expectations for a rate hike in the second half of the year.

  • Beware of bond bubble forming in ETFs Wednesday, 20 May 2015 | 2:08 PM ET
    Traders work on the floor of the New York Stock Exchange.

    Should you invest in fixed income when corporations are all too eagerly selling new bonds in staggeringly large amounts? Likely not.

  • Big banks plead guilty, fined $5.7B on rate rigging Wednesday, 20 May 2015 | 1:33 PM ET
    Barclays Capital office building in New York.

    Five of the world's largest banks were fined, and four pleaded guilty to U.S. criminal charges over foreign exchange manipulation.

  • NEW YORK/ LONDON, May 20- Citigroup Inc and JPMorgan Morgan Chase& Co are receiving regulatory waivers to allow them to continue to quickly issue new securities and continue doing business with mutual funds and exchange-traded funds, according to two people familiar with the matter. Barclays Plc, another bank that agreed to plead guilty on Wednesday to U.S....

  • US STOCKS-U.S. stocks tread water as Fed minutes loom Wednesday, 20 May 2015 | 1:07 PM ET

    *Fed minutes expected at 2:00 p.m. ET. *Southwest Airlines leads fall in airline stocks. *Yahoo bounces back from sharp selloff on Tuesday.

  • In FX rigging: "If you ain't cheating, you ain't trying" Wednesday, 20 May 2015 | 1:07 PM ET

    LONDON, May 20- Foreign exchange traders clubbed together in a brazen "heads I win, tails you lose" strategy to rip off customers as they rigged the $5 trillion- per-day currency market, British and U.S. authorities said on Wednesday. A Barclays employee was quoted as saying in 2010: "markup is making sure you make the right decision on price... which is whats the worst...

  • US STOCKS-Wall St muted before Fed minutes Wednesday, 20 May 2015 | 11:42 AM ET

    *Fed minutes expected at 2:00 p.m. ET. *Southwest Airlines leads fall in airline stocks. *Yahoo bounces back from sharp selloff on Tuesday.

  • FOREX-Dollar's gains spurred by ECB's bond buying plans Wednesday, 20 May 2015 | 11:39 AM ET

    *Eyes on Fed, ECB meeting on Greece. NEW YORK, May 20- The dollar hit a three-week high against the euro and a two-month peak versus the yen on Wednesday, extending a rebound rally underpinned by European Central Bank plans to frontload its quantitative easing program in a move to keep interest rates low. "The ECB has taken the wind out of the euro's sails," said Mark...

  • May 20- Six big banks agreed to pay $5.7 billion to U.S. and UK authorities on Wednesday over allegations they rigged currency markets, taking the industry's bill for the scandal to more than $10 billion. JPMorgan, Citigroup, UBS, Barclays and RBS agreed settlements with the U.S. Department of Justice. Barclays was also slapped with fines from other UK and U.S....

  • NEW YORK, May 20- Five of the world's largest banks, including JPMorgan Chase& Co and Citigroup Inc, were fined roughly $5.7 billion, and four of them pleaded guilty to U.S. criminal charges over manipulation of foreign exchange rates, authorities said on Wednesday. British banks Barclays Plc will pay $650 million in criminal penalties and Royal Bank of Scotland...

  • *Netanyahu fires Communication Ministry director-general. JERUSALEM/ TEL AVIV, May 20- Concerns about Israel's commitment to competition in the telecoms sector have grown after Prime Minister Benjamin Netanyahu dismissed the director-general of communications and took over the ministry himself. The prime minister named Mymon Shmila, a senior official...

  • *Barclays fined $2.4 bln, fires 8 employees. *Citi, Barclays, JP Morgan and RBS plead guilty. Traders at Citigroup, JP Morgan, Barclays and Royal Bank of Scotland, who described themselves as "The Cartel", used an invitation-only electronic chatroom and coded language to manipulate the price of U.S. dollars and euros between December 2007 and January 2013, according to...

  • Traders at JPMorgan Chase, Citigroup's banking unit Citicorp, Barclays and the Royal Bank of Scotland were accused of working together to manipulate rates on the foreign exchange market, where hundreds of billions of dollars and euros change hands back and forth. The penalties are a victory for the government and reflect a broader effort by the Justice...

  • NEW YORK/ WASHINGTON, May 20- Authorities fined five of the world's largest banks, including JPMorgan Chase& Co and Citigroup inc, roughly $5.7 billion, and four of them agreed to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates, the U.S. Department of Justice said on Wednesday. U.S. banks JPMorgan Chase and Citigroup will pay $550...

  • NEW YORK/ WASHINGTON, May 20- Authorities fined five of the world's largest banks, including JPMorgan Chase& Co and Citigroup, roughly $5.7 billion and four of them agreed to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates, the U.S. Department of Justice said on Wednesday.