Citigroup Inc Chief Executive Vikram Pandit on Thursday voiced support for key Obama administration financial reform goals, including a consumer protection authority, but government watchdogs questioned his earnestness.
After digesting several economic data releases in the morning session, the U.S. stock market rallied to close at a modest gain.
The official supervising the government's bailout investment in Citigroup said Thursday that the government intends to sell its holdings in the bank in a responsible manner within the next year.
Citigroup chief executive Vikram Pandit on Thursday will endorse a key aspect of President Obama's financial reform proposal known as the Volcker Rule as he testifies before Congress on the financial bailout investments the bank has received.
Citigroup Inc Chief Executive Vikram Pandit said he supports an enhanced federal consumer protection authority because problems for consumers can affect the entire financial system.
Citigroup Inc Chief Executive Vikram Pandit said he supports a federal consumer protection authority, because a key lesson of the crisis is that issues influencing consumers can become issues for the whole financial system.
Warren Buffett has said the hundreds of billions of dollars of taxpayer-funded bailouts of corporate America will eventually pay off.
For executives at Bank of America Corp and Citigroup Inc, it pays to be just below the top.
Citigroup Inc's board is reshuffling, with former AT&T and Xerox executives Michael Armstrong and Anne Mulcahy stepping down and former Mexican President Ernesto Zedillo in line to join.
Citigroup Inc's board is reshuffling, with former AT&T and Xerox executives Michael Armstrong and Anne Mulcahy stepping down and former Mexican President Ernesto Zedillo in line to join.
Citigroup Inc is in advanced talks to sell its $4 billion hedge fund business to SkyBridge Capital LLC, a New York firm that invests in start-up fund managers.
Citigroup Inc said on Wednesday it has named Stuart Staley to replace the retiring head of global commodities, which the third largest U.S. bank aims to expand by 30 to 40 percent over the next three years.
American Express Co raised Chief Executive Kenneth Chenault's base pay by 60 percent to $2 million for 2010, in the latest instance of Wall Street firms boosting regular executive compensation while cutting bonuses.
Citigroup Inc posted a $7.6 billion quarterly loss on Tuesday, but the bank's shares rose as declining loan losses raised hopes that the worst might soon be over.
Citigroup Inc posted a $7.6 billion quarterly loss on Tuesday after recording big charges linked to repaying government funds and bad loans.
Citigroup Inc, reported a loss of $0.33 per share for its fourth fiscal quarter on Tuesday, in line with analysts' expectations, according to data compiled by FactSet.
