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Citigroup Inc

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  • BofA set to face the music with $17B settlement Thursday, 21 Aug 2014 | 8:32 AM ET
    A man uses an ATM at a Bank of America branch on April 16, 2014 in New York City.

    The long-anticipated settlement is expected to consist of a penalty of $9.6 billion and a package of consumer-relief measures valued at $7 billion.

  • LONDON, Aug 21- The euro recovered from a 11- month low against the dollar on Thursday after better-than-expected German private sector growth data, although gains were limited given the numbers did little to alter expectations of more monetary stimulus.

  • Why BofA deal might not cost as much as you think Thursday, 21 Aug 2014 | 7:11 AM ET
    Bank of America branch in New York City

    How much will Bank of America's expected $17 billion mortgage settlement cost the company? The answer is, almost certainly not that much.

  • NEW YORK, Aug 21- U.S. regulators are sending some of the biggest global banks verbal warnings as they crack down on the firms' poor grasp of their own weaknesses, and push for rapid improvements in risk assessment, according to two sources familiar with the matter.

  • Bank of America settlement likely to benefit few Thursday, 21 Aug 2014 | 12:40 AM ET

    WASHINGTON— Bank of America's record $16.65 billion settlement for its role in selling shoddy mortgage bonds— $7 billion of it geared for consumer relief— offers a glint of hope for desperate homeowners. "It is certainly better than nothing," said Bruce Marks, chief executive of the nonprofit Neighborhood Assistance Corporation of America.

  • Aug 20- Just over a quarter of Detroit's $5.2 billion of outstanding water and sewer revenue bonds were returned to the city for repurchase on Wednesday, 24 hours before the tender offer was due to expire.

  • UPDATE 1-Carlyle-backed Axalta Coating files for IPO Wednesday, 20 Aug 2014 | 6:07 PM ET

    Aug 20- Axalta Coating Systems Ltd, a paint coatings company backed by buyout firm Carlyle Group LP, filed with U.S. regulators on Wednesday for an initial public offering of common stock. The company listed Citigroup, Goldman Sachs, Deutsche Bank and JP Morgan among the underwriters for the IPO.

  • Final Glance: Banks companies Wednesday, 20 Aug 2014 | 6:02 PM ET

    Bank of America Corp. rose$. 07 or. 5 percent, to $15.52. Citigroup Inc. rose$. 10 or. 2 percent, to $49.80. Goldman Sachs rose$. 07 or percent, to $174.03.

  • Carlyle-backed Axalta Coating Systems files for IPO Wednesday, 20 Aug 2014 | 5:19 PM ET

    Aug 20- Buyout firm Carlyle Group LP backed performance coatings company Axalta Coating Systems Ltd filed with U.S. regulators on Wednesday to raise up to $100 million in an initial public offering of common stock. The company listed Citigroup, Goldman Sachs, Deutsche Bank and JP Morgan among the underwriters for the IPO.

  • Why Bank of America deal might not cost it $17B Wednesday, 20 Aug 2014 | 2:30 PM ET

    WASHINGTON— How much will Bank of America's expected $17 billion mortgage settlement cost the company? Most of the problem loans were sold by Merill Lynch and Countrywide Financial before Bank of America bought them during the 2008 financial crisis.

  • APNewsBreak: B ofA reaches $17B settlement with US Wednesday, 20 Aug 2014 | 2:16 PM ET

    WASHINGTON— How much will Bank of America's expected $17 billion mortgage settlement cost the company? Most of the problem loans were sold by Merill Lynch and Countrywide Financial before Bank of America bought them during the 2008 financial crisis.

  • Detroit $5.5B bond sale readied as tender looms Wednesday, 20 Aug 2014 | 2:00 PM ET
    Traffic in downtown Detroit

    Detroit's emergency manager's office says a determination on how the bonds will be sold would be made next week.

  • Midday Glance: Banks companies Wednesday, 20 Aug 2014 | 1:49 PM ET

    Bank of America Corp. fell$. 02 or. 1 percent, to $15.43. Citigroup Inc. rose$. 03 or. 1 percent, to $49.73. Goldman Sachs fell$. 60 or. 3 percent, to $173.36.

  • BEIJING, Aug 20- Amazon.com will set up shop in China's Shanghai free trade zone, the company said on Wednesday, aiming to take advantage of less stringent trade regulations to sell a wider range of products in the country.

  • Amazon joins free trade zone in China: Report Wednesday, 20 Aug 2014 | 12:32 PM ET
    An electric bike used by Amazon.com in Beijing.

    Amazon to open an office in China's Shanghai free trade zone, state media says, allowing the firm to sell a wider range of products in the country.

  • Early Glance: Banks companies Wednesday, 20 Aug 2014 | 12:21 PM ET

    Bank of America Corp. rose$. 03 or. 2 percent, to $15.48. Citigroup Inc. rose$. 13 or. 3 percent, to $49.83. Goldman Sachs fell$. 54 or. 3 percent, to $173.43.

  • BEIJING, Aug 20- Amazon.com will set up shop in China's Shanghai free trade zone, state media said on Wednesday, aiming to take advantage of less stringent trade regulations to sell a wider range of products in the country.

  • *Tension brewing between CEO Guerra and Luxottica founder-sources. MILAN, Aug 20- Luxottica, maker of Ray-Ban and Persol sunglasses, could part ways with Chief Executive Andrea Guerra due to disagreements over strategy with founder and chairman Leonardo Del Vecchio, according to sources close to the matter.

  • TOKYO, Aug 20- Citigroup Inc is preparing to sell its Japanese retail banking operations, a source with direct knowledge of the matter said on Wednesday, as it waves the white flag on a venture plagued by regulatory troubles and anaemic lending.

  • TOKYO, Aug 20- Citigroup Inc is considering the sale of its Japanese retail unit and has approached about 10 banks, a source with direct knowledge of the matter said on Wednesday, as the U.S. banking company struggles to turn around its Japanese operations.