Citigroup Inc.

citigroup inc. - All News and Analysis

• UBS and RBS Confirm Exposure to LyondellBasell

  ReutersUK - 2009-01-07

  ZURICH/LONDON (Reuters UK) - European lenders Royal Bank of Scotland and UBS confirmed they had some exposure to chemicals company LyondellBasell ACCEIN, whose U.S. unit filed for bankruptcy, but declined to give details.Swiss bank UBS UBSN UBS said its exposure to LyondellBasel was included in a $4.7 billion (3.1 billion...

  Tags: Exposure, Chemicals, UBS AG, LyondellBasell, Citigroup Inc., Goldman Sachs & Co., Oukbs, RBS

• Banks May Need to Raise Fresh Capital in '09: Whitney

  Reuters - 2009-01-07

  (Reuters) - U.S. banks will have to raise fresh capital in 2009, and a sharp increase in credit-rating downgrades on mortgage-related securities will lead to further stresses on the companies' capital, according to prominent banking analyst Meredith Whitney."From July 2007 to date, over $5 trillion worth of securities have been...

  Tags: Bank, Analyst, Loss Provision, Banking, Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co., Wells Fargo & Co.

• Citi's Pandit Is 'Forgoing' His Bonus: Was There an Alternative?

  Seeking Alpha - 2009-01-06

  Tom Brown submits: Let me see if I have this straight. Citigroup C lost over $10 billion over the first nine months of 2008. The company received not one but two capital infusions from the federal government last year. Plus, the feds had to guarantee over $300 billion in...

  Tags: Financial, Tom Brown, F.C.C. Co. Ltd., TNK-BP, British Petroleum Co plc, BG Group plc, Citigroup Inc.

• Bank Loan Losses May Double By 2010-end: Deutsche

  Reuters - 2009-01-05

  (Reuters) - Loan losses for U.S. commercial banks are expected to rise to 3 percent by the end of 2010, from 1.5 percent in the third quarter of 2008, hurt by an increased percentage of bad loans, greater consumer leverage and faster problem recognition by banks, Deutsche Bank said.Loan losses...

  Tags: Bank, Deutsche Bank AG, Loss, Balance Sheets, Mortgages, Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co.

• Financial Roundup: 3 Big Deals Official, ING Reorganizies, Citi Bosses Lose Out, the Skinny on Fannie Mae

  BNET - 2009-01-02

  Three big deals done -- It's official. Bank of America has taken over Merrill Lynch, making it the largest bank in the U.S. with assets of $2.7 trillion. Wells Fargo & Co. owns Wachovia Corp. and PNC Financial Services Group has bought Cleveland's National City Corp. [Source: The Wall Street...

  Tags: Bank, Fannie Mae, Financial, Citigroup Inc., ING Group, Financial Services, Peter Galuszka

• Bank of America, Wells Close Mergers as Banking Transforms

  Reuters - 2009-01-01

  By Jonathan StempelNEW YORK (Reuters) - Bank of America Corp BAC completed its purchase of Merrill Lynch & Co and Wells Fargo & Co WFC finished buying Wachovia Corp, the latest sea changes in a transformed banking industry facing dire economic times ahead.The Merrill takeover was completed on Thursday, ending...

  Tags: Bank Of America Corp., Merger, Wells Fargo & Co., Merrill Lynch & Co. Inc., Banking, Wachovia Corp., Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co., PNC Financial Services Group Inc.

• Bank of America Completes Merrill Lynch Purchase

  Reuters - 2009-01-01

  NEW YORK (Reuters) - Bank of America Corp BAC completed its purchase of Merrill Lynch & Co on Thursday, creating the largest U.S. bank and perhaps one of the biggest challenges yet for longtime Chief Executive Kenneth Lewis.The closing allows Bank of America to bypass JPMorgan Chase & Co JPM...

  Tags: Bank, Bank Of America Corp., Merrill Lynch & Co. Inc., Bank of America Corp., BlackRock Inc., Citigroup Inc., J.P. Morgan Chase & Co., Lewis, Wells Fargo & Co.

• Wells Fargo Completes Wachovia Purchase

  Reuters - 2009-01-01

  NEW YORK (Reuters) - Wells Fargo & Co WFC said it has completed its roughly $12.7 billion purchase of Wachovia Corp, a big bet that it properly assessed the risks in Wachovia's huge book of mortgage and real estate loans.The merger closed on Wednesday and more than doubles the size...

  Tags: Wells Fargo & Co., Wachovia Corp., Asset Management, Mergers & Acquisitions, Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co., Real Estate

• LyondellBasell Considers Bankruptcy Filing

  Reuters - 2008-12-31

  By Caroline HumerNEW YORK (Reuters) - LyondellBasell, the world's third-largest petrochemical company, is considering filing for Chapter 11 bankruptcy protection as it tries to restructure debt, a company spokeswoman said on Wednesday."As we have said publicly, we are looking to restructure our debt and we are exploring all of our...

  Tags: Houston, Debt, Bankruptcy, LyondellBasell, Litigation, Citigroup Inc., Goldman Sachs & Co., Merrill Lynch & Co. Inc.

• One Group's Worst CEOs for 2008

  BNET - 2008-12-31

  New Year's Eve always is time for lists -- best and worst. Since business has been so much in the news, here is one organization's list of the worst CEOs of 2008. These are the picks of Co-op America, a progressive group that advocates conomic growth through "green"...

  Tags: Pick, Citigroup Inc., CEO, Strategy, Management, Peter Galuszka

• Poor Results Signal Trouble For Legg's Miller

  Reuters - 2008-12-31

  By Muralikumar AnantharamanBOSTON (Reuters) - Legg Mason Inc's LM once-celebrated Value Trust fund is set for its worst-ever annual returns in 2008, and some investors grumble that time is running out for its manager, Bill Miller.The flagship stock mutual fund lost 57 percent in the year to December 29, the...

  Tags: S&P 500, Financial, Legg Mason Inc., Value Trust, 3M Co., AES Corp., Amazon.com Inc., American Express Co., American International Group Inc., Bill Miller, Citigroup Inc., EMC Corp., Freddie Mac, Goldman Sachs & Co., J.P. Morgan Chase & Co., Microsoft Corp., NYSE Euronext

• Who Owns Chrysler's Headquarters?

  Seeking Alpha - 2008-12-25

  Tom Lindmark submits: This is another story I picked up in the Wall Street journal Wednesday. It involves, Chrysler, Cerberus, the city of Auburn Hills, Michigan, Citibank C and of course the U.S. taxpayer. In the grand scheme of things these days it is relatively puny in monetary terms but...

  Tags: Financial, Tom Lindmark, F.C.C. Co. Ltd., TNK-BP, British Petroleum Co plc, BG Group plc, Citigroup Inc.

• Citigroup, Old Lane Executives to Sever Ties: Report

  Reuters - 2008-12-24

  (Reuters) - Citigroup Inc C will sever ties with senior executives of hedge fund Old Lane Partners LP by December 31, the Wall Street Journal reported on its website.Old Lane, which was co-founded by Vikram Pandit before he became Citigroup's chief executive, was bought by Citigroup last year for more...

  Tags: Citigroup Inc., Investment, Financial Services, Finance, Old Lane, Us

• Wachovia, National City Holders Approve Takeovers

  Reuters - 2008-12-23

  NEW YORK (Reuters) - Wachovia Corp's WB shareholders approved the bank's takeover by rival Wells Fargo & Co WFC on Tuesday, bringing one of the largest mergers stemming from the financial crisis near to completion.Separately, regional bank PNC Financial Services Group Inc PNC said its planned takeover of National City...

  Tags: Bank, Wells Fargo & Co., Wachovia Corp., Financial Services, Citigroup Inc., National City Corp., PNC Financial Services Group Inc., Us

• Record Deal Cancellations Slammed Banks in 2008

  Reuters - 2008-12-23

  By Michael ErmanNEW YORK (Reuters) - Most investment bankers would like to forget about the disastrous year that was 2008 -- even as they think about the fees that could have been.More deals were withdrawn in 2008 than ever before, and with overall mergers and acquisition activity down 35 percent...

  Tags: Bank, M&A, Citigroup Inc., Fee, Goldman Sachs & Co., J.P. Morgan Chase & Co., Microsoft Corp., Morgan Stanley, Yahoo! Inc.

• Mortgage Re-defaults Rising, No Sign of Slowing

  Reuters - 2008-12-22

  WASHINGTON (Reuters) - The rate of home mortgage borrowers defaulting after their loans are modified is rising and shows no signs of leveling off, U.S. banking regulators said on Monday."This trend of increasing delinquencies underscores the need to understand why these modifications have not been more sustainable," John Dugan, head...

  Tags: Banking, Mortgages, Financial Services, Finance, Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co.

• Citigroup Forms Oversight Committee

  AAP - 2008-12-19

  Citigroup Inc is boosting its lending and has formed a committee to oversee how taxpayer dollars in the bank are being used, CEO Vikram Pandit says."We are increasing our lending and continue to make targeted consumer and commercial loans," Pandit said in a memo late Wednesday to employees.In the...

  Tags: Citigroup Inc., Government, Vertical Industries, Banking, Financial Services, Enterprise Software, Software, AP

• JPMorgan CEO Dimon to Decline a Bonus: Source

  Reuters - 2008-12-19

  NEW YORK (Reuters) - Jamie Dimon, chief executive of JPMorgan Chase & Co JPM, will not seek a bonus for 2008, a person close to the matter said on Friday.Dimon joins a raft of other chief executives who are not receiving bonuses for a year when the credit crunch walloped...

  Tags: J.P. Morgan Chase & Co., Bonus, CEO, Taxpayer Sentiment, Bank, Chase General Corp., Citigroup Inc., Goldman Sachs & Co., Merrill Lynch & Co. Inc., Morgan Stanley

• Wimm-Bill-Dann Foods OJSC Q3 2008 Earnings Call Transcript

  Seeking Alpha - 2008-12-18

  Question-and-Answer SessionOperator Operator Instructions Your first question comes from Marat Ibragimov – Citigroup. Marat Ibragimov – Citigroup Could you please comment on the volume in dairy segment? According to my calculations you have continued to record volume declines in the third quarter of this year compared to the third...

  Tags: Bond, Call Transcript, Earnings, Citigroup Inc., Investment, Finance, Seeking Alpha

• Analyst Bove Widens Citigroup Fourth-quarter Loss View

  Reuters - 2008-12-18

  (Reuters) - Veteran banking analyst Richard Bove widened his fourth-quarter loss estimate for Citigroup Inc C, saying the bank may take sizable write-downs in its capital-markets operations, similar to those seen in Goldman Sachs Group Inc's GS and Morgan Stanley's MS fourth-quarter results.The write-downs at Goldman Sachs and Morgan Stanley...

  Tags: Loss, Analyst, Citigroup Inc., Morgan Stanley, Investment, Corporate Law, Goldman Sachs & Co., Mortgages

• Incorporated: 1993
• CEO: Mr. Vikram S. Pandit