IBTimes.com : Citigroup Topic

Facebook's market maker losses may top $115 million: sources

Fri, 25 May 2012 19:14:02 EDT

Four of Wall Street's major market makers involved in Facebook's botched initial public offering last Friday expect their losses from technical glitches on Nasdaq's exchange to be around $115 million.

Goldman Sachs Shareholders Approve Executive Pay Plans, Turns to Twitter to Improve Image

Fri, 25 May 2012 02:59:03 EDT

Bank's chief executive Lloyd Blankfein would be taking a pay cut and receive lower pay compared to his counterparts in JPMorgan and Citigroup, shareholders told.

Top women on Wall Street: Equal-opportunity axing?

Thu, 24 May 2012 18:00:04 EDT

The financial crisis and its aftermath have been brutal for Wall Street's richest and most powerful women. The latest casualty: Ina Drew, the head of JPMorgan Chase's chief investment office, who departed last week after the bank suffered mammoth trading losses.

UK shares edge up cautiously from lows

Thu, 24 May 2012 05:49:03 EDT

The FTSE 100 rose on Thursday, clawing back some of the previous session's steep losses, though trade remained cautious after a European summit failed to produce concrete proposals for tackling the region's debt crisis.

Gina Rinehart, World’s Richest Woman, Fails to Snag Fairfax Board Seat

Wed, 23 May 2012 19:02:54 EDT

Australian mining mogul Gina Rinehart may have just snagged on Wednesday the title World's Richest Woman, but her earning more than $1 million every 30 minutes was not impressive enough to gain her a seat in Fairfax Media board.

Wall Street falls 1 percent on Europe, Dell

Wed, 23 May 2012 13:56:03 EDT

Stocks fell 1 percent on Wednesday, with all S&P 500 sectors trading negative as concerns mounted over Greece's future in the euro zone.

Global Markets Overview - 05/23/2012

Tue, 22 May 2012 19:17:43 EDT

U.S. stocks erased gains from a day spent mostly in positive territory to close flat Tuesday, as worries resurfaced in late trading about potential European instability.

Debrahlee Lorenzana, The Lauren Odes of 2010 Fired For Being 'Too Sexy,' Speaks Out: ‘I Ended Up Fighting Citibank On My Own’

Tue, 22 May 2012 17:12:35 EDT

Debrahlee Lorenzana, who was fired as a banker from Citibank in 2010 for being "too sexy," spoke out about the similarities of her case with Lauren Odes', the woman fired from New York lingerie store Native Intimates for being too busty.

Shares falter on Europe concerns; euro dips

Tue, 22 May 2012 17:07:02 EDT

U.S. equities faltered minutes before the close on Tuesday and the euro fell as hopes European leaders will tackle the region's debt crisis ebbed, fanning doubts that much would come of a meeting just a day away.

Shares gain on Europe optimism; euro dips

Tue, 22 May 2012 15:28:02 EDT

World equity markets rose for a second consecutive day on Tuesday on hopes European leaders will tackle the region's debt crisis, but the euro fell on doubts that much would come of a meeting just a day away.

Shares rise on European talks hope; euro dips

Tue, 22 May 2012 14:14:03 EDT

World shares gained for a second consecutive day on Tuesday on hopes European leaders will tackle the region's debt crisis, but the euro fell on doubts that much would come of a meeting just a day away.

FINRA fines Citigroup Global Markets $3.5 million

Tue, 22 May 2012 10:35:03 EDT

The Financial Industry Regulatory Authority has fined Citigroup Global Markets $3.5 million for providing inaccurate information related to subprime securitizations.

Citigroup says cautious on U.S. small-, mid-cap cos

Tue, 22 May 2012 06:35:02 EDT

Citigroup said it has a cautious view on the U.S. small-and mid-cap companies on concerns over earnings pressure in the second half amid the euro zone crisis and the political uncertainty in the United States.

Global Markets Overview - 05/22/2012

Mon, 21 May 2012 19:10:55 EDT

The Nasdaq Composite index rose the most since December as hopes of political progress in Greece and talk of government efforts to buoy China's economy trumped a steep decline in Facebook's newly public stock.

Eaton Corp. To Buy Cooper Industries For $11.8 Billion

Mon, 21 May 2012 17:04:12 EDT

Industrial manufacturer Eaton Corp. (ETN) said Monday it would buy electrical equipment company Cooper Industries Plc for $11.8 billion to expand into the electric industry.

Publisher Houghton Mifflin Harcourt Files For Bankruptcy To Restructure Debt

Mon, 21 May 2012 15:13:56 EDT

Publisher Houghton Mifflin Harcourt filed for Chapter 11 bankruptcy protection Monday to restructure $3.1 billion in debt and reduce annual interest costs by around $250 million.

An Extraordinary Time to Be in the Driver's Seat: Aaron Kennon

Fri, 18 May 2012 20:21:02 EDT

Aaron Kennon, co-founder and CEO of Clear Harbor Asset Management, shares some of his company's trade secrets in this exclusive interview with The Gold Report. Educating yourself is critical before investing, and Kennon suggests questions to ask, what specialized knowledge your adviser should know and why small-cap and junior resource equities are offering surprisingly thrilling returns.

Solow lawsuit over Citigroup disclosures dismissed

Fri, 18 May 2012 19:21:01 EDT

Citigroup Inc and its Chief Executive Vikram Pandit on Friday won a dismissal of New York real estate developer Sheldon Solow's lawsuit accusing them of securities fraud for hiding the bank's risks during the 2008 financial crisis.

Rupee Could Slide To 60 Against Dollar, Says Citigroup: Report

Fri, 18 May 2012 07:38:04 EDT

The Citigroup has reportedly said the Indian rupee may dive south further to touch 60 against the US dollar.

Facebook wraps up IPO, set for big Friday pop

Thu, 17 May 2012 21:00:03 EDT

Facebook Inc is set to raise up to $18.4 (11.66 billion pounds) billion in its IPO and become the first U.S. company to be worth more than $100 billion at its debut, as investors bet on a big pop in the stock when it begins trading on the Nasdaq on Friday.

Facebook IPO: How To Buy Stock Shares, But Why It's Okay If You Don't Succeed

Thu, 17 May 2012 12:10:54 EDT

One of the biggest and most anticipated IPOs of the year, quite possibly the decade, is ready to hit Wall Street tomorrow, but if you're thinking about buying shares, you're not alone. Not in the least. If you're looking to get a piece of the stock, we're here to help you. But be warned: It will not be easy.

Premarket Movers (Acadia Pharmaceuticals, Citigroup, Fossil, Dendreon Corporation, Zynga, Titan Machinery, Staples, Vodafone Group and Corning Incorporated)

Wed, 16 May 2012 06:45:29 EDT

The companies whose shares are moving in premarket trade Wednesday are: Acadia Pharmaceuticals Inc., Citigroup Inc., Fossil Inc., Dendreon Corp., Zynga Inc., Titan Machinery Inc., Staples Inc., Vodafone Group PLC and Corning Inc.

Analysis: Key to Universal-EMI decision: Has music business lost control?

Wed, 16 May 2012 01:28:03 EDT

On the face of it, Universal Music Group's bid to buy a big chunk of EMI stands to make the world's leading music company an even more formidable force, combining Universal's star lineup of Lady Gaga and Rihanna with the British company's deep library of The Beatles, Pink Floyd and Katy Perry.

Key to Universal-EMI decision: Has music business lost control?

Wed, 16 May 2012 01:28:02 EDT

IMF Conducts Stress Test on Big 4

Wed, 16 May 2012 00:33:54 EDT

Officials of the International Monetary Fund (IMF) are in Sydney to conduct stress test on ANZ, Commonwealth Bank, National Australia Bank and Westpac.

EU's Barnier pushes for binding pay votes - FT

Tue, 15 May 2012 21:14:01 EDT

The EU's Internal Market Commissioner Michel Barnier outlined on Wednesday new plans empowering shareholders in Europe's listed companies and investors in the continent's banks, according to the Financial Times.

Euro Zone Economy Avoids Recession But Split Grows

Tue, 15 May 2012 05:21:02 EDT

The euro zone just avoided recession in early 2012, but the region's debt crisis sapped the life out of the French and Italian economies and widened a split with paymaster Germany.

Bank Stocks Hit By Panic Selling On Greece Crisis, JPMorgan Losses

Mon, 14 May 2012 15:44:47 EDT

Global bank stocks fell Monday as investors panicked that a weekend electoral impasse in Greece might be a prelude to that country to leave the 17-member euro zone.

The Energy Report - Getting More Bearish

Mon, 14 May 2012 10:55:21 EDT

If China can't give the oil market a bounce with a bank reserve requirement cut, then it would appear that oil is just surrendering to the increasingly bearish fundamentals. Greek fears are trumping Chinese stimulus against a backdrop of surging inventories and uncertainly surrounding the backlash of the JP Morgan 2 billion plus dollar loss.

Australian Stock Market Report – Midday 5/14/2012

Sun, 13 May 2012 22:48:04 EDT

It was a wild weekend for investors. The European market traded higher as no new news was seen as good news, but the US markets closed down on trouble in the finance sector and Chinese growth concerns wacked well-known companies. News that the US banking giant, J.P. Morgan Chase & Company. (JPM.

Ally Financial's Mortgage Unit Reported To File Bankruptcy

Sun, 13 May 2012 14:28:02 EDT

Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights.

Ally Financial's Mortgage Unit Reported Near Bankruptcy

Sun, 13 May 2012 13:35:48 EDT

Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender shed its troubled mortgage business but also spur drawn-out legal fights.

Bank Stocks: Are They Cheap Because They Are Bargains Or Value Traps?

Sat, 12 May 2012 11:24:29 EDT

Since hitting 52-week lows last October, U.S. financial-sector stocks have staged a strong comeback -- rising some 34 percent. Despite this uptick, they still look like bargains, at first blush.

Banks hit by JPMorgan; Wall Street ends week lower

Fri, 11 May 2012 16:49:02 EDT

Shares of banks slumped on Friday after JPMorgan said it lost billions of dollars on bad trades, but the overall market ended only modestly lower, thanks to gains in technology shares.

JPMorgan $2 billion loss dents shares, Teflon image

Fri, 11 May 2012 16:14:02 EDT

JPMorgan Chase & Co's shock trading loss of at least $2 billion (1.24 billion pounds) from a failed hedging strategy knocked shares of the largest U.S. bank by assets down over 9 percent on Friday, along with the reputation of Chief Executive Jamie Dimon.

Wall Street flat, tech offsets JPMorgan downdraft

Fri, 11 May 2012 15:21:02 EDT

Stocks were little changed in choppy trading on Friday as a sharp selloff in banks due to a huge loss by JPMorgan was offset by strong technology shares.

Wall Street edges up at the end of soft week

Fri, 11 May 2012 13:42:02 EDT

Stocks edged up on Friday after a strong outlook from chipmaker Nvidia and surprisingly robust consumer confidence offset a slide in bank shares after disclosures of huge trading losses at JPMorgan Chase & Co.

Wall Street rises at the end of a soft week

Fri, 11 May 2012 12:14:02 EDT

Stocks rose on Friday after a strong outlook from chipmaker Nvidia and surprisingly robust consumer confidence offset a slide in bank shares after disclosures of huge trading losses at JPMorgan Chase & Co.

Wall Street flat, but on track for weekly loss

Fri, 11 May 2012 10:35:03 EDT

Stocks were little changed on Friday but remained on track for a second week of declines after JPMorgan Chase & Co revealed a trading loss of at least $2 billion from a failed hedging strategy.

Futures point to decline after JPMorgan loss

Fri, 11 May 2012 09:00:04 EDT

Stock index futures pointed to a lower open on Friday after JPMorgan Chase & Co revealed a trading loss of at least $2 billion from a failed hedging strategy that weighed on bank shares.

JPMorgan weighs on futures as banks drop

Fri, 11 May 2012 08:21:02 EDT

Stock index futures fell on Friday and were on track to extend the week's losses after JPMorgan Chase & Co revealed a trading loss of at least $2 billion from a failed hedging strategy that weighed on bank shares.

Futures Drop As JPMorgan Weighs On Banks

Fri, 11 May 2012 07:28:02 EDT

Stock index futures fell on Friday and were on track to extend the week's losses after JPMorgan Chase & Co revealed a shocking trading loss of at least $2 billion from a failed hedging strategy.

JPMorgan $2 billion trading loss spooks bank stocks

Fri, 11 May 2012 07:28:01 EDT

JPMorgan Chase & Co's shock trading loss of at least $2 billion (1.24 billion pounds) from a failed hedging strategy knocked financial stocks across the globe on Friday, as well as the reputation of the biggest U.S. bank by assets and its CEO Jamie Dimon.

Pre-Market Movers (Pluristem, Mechel, Zynga, JPMorgan Chase, Citigroup, Morgan Stanley, Apartment Investment and Management)

Fri, 11 May 2012 07:06:40 EDT

The companies whose shares are moving in pre-market trading on Friday are: Pluristem Therapeutics Inc, Mechel OAO, Zynga Inc, JPMorgan Chase & Co, Citigroup Inc, Morgan Stanley and Apartment Investment and Management Co.

JPMorgan reveals $2 billion trading loss, CEO Dimon admits "egg on face"

Fri, 11 May 2012 00:56:03 EDT

JPMorgan Chase & Co, the biggest U.S. bank by assets, said it suffered a trading loss of at least $2 billion from a failed hedging strategy, a shock disclosure that hit financial stocks and the reputation of the bank and its CEO, Jamie Dimon.

JPMorgan Suffers $2bn Loss In Hedging Due To Bad Judgment

Fri, 11 May 2012 00:32:43 EDT

JP Morgan CEO Jamie Dimon admits that bad investment strategies in the firm's hedging arm caused a huge trading loss.

Improved Employment Data Would Mean No RBA Rate Cuts for Now

Thu, 10 May 2012 23:06:37 EDT

The room for the Reserve Bank of Australia (RBA) to further cut the overnight cash rate just shrank with the release on Thursday of statistics that the country's unemployment rate unexpectedly went down to 4.9 per cent from 5.2 per cent.

JPMorgan has trading loss of at least $2 billion, reputation hit

Thu, 10 May 2012 22:28:02 EDT

JPMorgan Chase & Co said on Thursday that it suffered a trading loss of at least $2 billion from a failed hedging strategy, a surprise disclosure that hit financial stocks and the reputation of the bank and its prominent CEO, Jamie Dimon.

JPMorgan has $2 billion trading loss, reputation hit

Thu, 10 May 2012 19:14:02 EDT

JPMorgan Chase & Co said on Thursday that it suffered a $2 billion trading loss from a failed hedging strategy, a disclosure that hit financial stocks and the reputation of the bank and its prominent CEO, Jamie Dimon.

Shock Of JPMorgan Loss Hits Stock Futures

Thu, 10 May 2012 18:35:04 EDT

Stock index futures fell sharply on Thursday evening as JPMorgan Chase & Co stunned investors with news that its chief investment office had incurred "significant mark-to-market losses" that it said could "easily get worse.".