MARKETS / FINANCE

Citigroup Inc's first-quarter profit fell 32 percent as shrinking loans and poor trading results pressured revenue while expenses surged.

Standard & Poor's on Monday downgraded the outlook for the United States to negative, saying it believes there's a risk U.S. policymakers may not reach agreement on how to address the country's long-term fiscal pressures.

Citigroup Inc's first-quarter profit fell 32 percent, slightly beating expectations, as the bank lost less money on bad loans. The third-largest U.S. bank said it earned $3.0 billion, or 10 cents per share, down from $4.4 billion, or 15 cents per share, a year earlier. Analysts on average had expected 9 cents per share, according to Thomson Reuters I/B/E/S.

Standard & Poor's on Monday downgraded the outlook for the United States to negative, saying it believes there's a risk U.S. policymakers may not reach agreement on how to address the country's long-term fiscal pressures.

U.S. homebuilder sentiment slipped a notch in April as home prices continued to fall in most areas of the country amid widespread foreclosures, a survey released on Monday showed.

U.S. stocks tumbled on Monday as Standard & Poor's downgraded the credit outlook of the United States, adding to worries about the global economy after China curbed liquidity.

Citigroup Inc's first-quarter profit fell 32 percent as bond trading revenue plunged and operating expenses jumped.

Oil fell more than $2 on Monday after ratings agency S&P cut its U.S. credit outlook to negative, adding to losses sparked by top exporter Saudi Arabia saying weak demand had forced it to reduce crude output.

U.S. asset managers are expected to report higher profits for the March quarter after investors looking to take more risk poured money into stock and bond funds.

Community Health Systems Inc is converting its $3.3 billion bid for Tenet Healthcare Corp to all cash, the hospital operator said, sweetening the offer after questions about its billing practices hit its shares.

Oil prices fell more than $2 a barrel on Monday to under $122 a barrel after OPEC ministers said high oil prices could place a major strain on consumer countries, and S&P revised its U.S. outlook to negative.

Athens reiterated on Monday it has no plans to restructure its government debt, a move its central bank chief said would be catastrophic, while markets speculated that some form of debt rescheduling was on the cards.

The True Finns, the anti-euro party voted into a powerful role in the Helsinki parliament at the weekend, expect the European Union to change plans for a bailout of Portugal, its leader said on Monday.

U.S. stocks dropped on Monday after ratings agency Standard & Poor's cut its long-term outlook on the United States and another step by China to stem growth reignited worries about the global economy.

Halliburton Co , the world's second-largest oilfield services company, posted better-than-expected first-quarter earnings, lifted by a three-fold jump in profits at its key North American operations.

U.S. stocks were poised for a lower open on Monday after China took another step to stem the growth of its economy and worries persisted Greece may need to restructure its debt.

Citigroup Inc's first-quarter profit fell 32 percent, slightly beating expectations, as the bank lost less money on bad loans but struggled to grow its business.

Oil prices fell more than $2 a barrel on Monday to under $122 a barrel after top exporter Saudi Arabia said it had cut output because it lacked buyers, and the dollar strengthened against the euro on eurozone debt fears.

A crucial new phase of Portugal's bailout negotiations began under a cloud on Monday after an anti-euro party in Finland that has vowed to derail the pending rescue scored strong gains in an election.

U.S. stock index futures fell on Monday before a raft of corporate earnings, including Citigroup, as investors weigh whether corporate results and outlooks will be hurt by rising commodity costs.

Oil prices fell more than $1 a barrel on Monday to less than $123 after top exporter Saudi Arabia cut output because it lacked buyers.

U.S. stock index futures fell on Monday before a raft of corporate earnings, including Citigroup, while Greek debt concerns continued to cloud the global economic picture.

Citigroup Inc is expected to report a drop in quarterly profit and revenue on Monday, as an uncertain trading environment and weak consumer loan demand hinder its efforts to move past the financial crisis.

Stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 0.45 percent, Dow Jones futures down 0.39 percent and Nasdaq 100 futures down 0.4 percent at 0817 GMT.

JPMorgan plans to nearly double the number of its employees in Brazil to keep pace with an expanding financial market in Latin America's largest economy, the Financial Times said on Sunday.

The euro fell on Monday and stocks were weaker as the rise of a euro-skeptic party in Finland added another potential hurdle to solving the euro zone's debt problems.

The U.S. economy appears to be running dangerously close to stall speed, and the rest of the world may not have enough oomph to compensate.

International Monetary Fund member countries sought to bridge sharp differences over the global economy, acknowledging that rising inflation in emerging markets poses a risk to rich countries too.

It took fewer than 400 words for freshman Google Inc CEO Larry Page to set the tone for a strained relationship with Wall Street that could haunt him for years.