Diversified financial-services companies' shares rose Monday, as Wall Street got some relief from soaring energy prices. As oil prices declined, the dollar advanced, easing some worries about inflation.

Citigroup Inc.'s new chief executive, Vikram Pandit, plans to stick with a global banking model after months of intense review — but only after shrinking the company by about one-fifth first.

First Marblehead Corp. shares fell sharply Friday after the student-loan services provider reported a quarterly loss, as the market for bundles of loans stayed frozen.

Shares of most diversified financial-services companies dropped on Friday, as investors' concerns increased about continuing fallout from the credit market crisis and rising oil prices.

Citigroup Inc said on Friday it plans to shed $400 billion of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets.

By Jonathan Stempel and Dan Wilchins

Countrywide Financial Corp <CFC.N> shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp <BAC.N> will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender.

NEW YORK (Reuters) - Countrywide Financial Corp <CFC.N> shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp <BAC.N> will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender.

Shares of national banks mostly rose Friday, though Citigroup Inc. shares slipped after the company disclosed that it plans to shed nearly $500 billion in assets.

Student-loan services provider First Marblehead Corp. said Thursday it swung to a fiscal third-quarter loss as the company remained unable to complete a single securitization transaction — previously its major source of revenue.

Mortgage lender Countrywide Financial Corp., which is under investigation for inflating certain borrowers' fees, acknowledged Tuesday that it has made errors and pledged to take steps to improve its operations.

As Bank of America Corp. moves closer to acquiring mortgage lender Countrywide Financial Corp., a third analyst in two days suggested Bank of America reduce the purchase price.

Bank of America's deal to buy troubled mortgage company Countrywide may not be such a sure thing afterall., The New York Times reports.

Bank of America said on Monday it remains committed to acquiring Countrywide Financial as planned in a bid to dampen speculation it might abandon the $4.1 billion purchase or change the terms.

Shares of Countrywide Financial Corp. tumbled Monday as two analysts said Bank of America Corp.'s planned acquisition for the mortgage lender could be renegotiated to a lower price.