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NEW YORK: Citigroup Inc is considering cutting its cash on hand by about $35 billion, which should help the bank buy higher yielding assets or redeem expensive debt to boost earnings.
Citigroup Inc is facing a unique dilemma among the four largest US banks: it is light on deposits from individuals, an important funding source that costs little and tends to stick around.
NEW YORK: A U.S. judge has rejected Citigroup Inc's effort to block the Abu Dhabi Investment Authority from seeking a second arbitration over the sovereign wealth fund's $7.5 billion investment in late 2007 to shore up the then-struggling bank.
NEW YORK: Citigroup Inc said it is cutting 11,000 jobs worldwide, delivering the first of what investors expect to be a new series of steps to shrink the bank down to a more manageable and profitable size.
TOKYO: Citigroup Inc. was suspended from the primary group of dealers that participate at certain Japanese government bond auctions after it was found to have manipulated futures prices.
NEW YORK: Citigroup Inc will record US$2.7 billion in litigation expenses and another $800 million in repositioning charges, leaving the third-largest U.S. bank "marginally profitable" in the fourth quarter, its chief executive officer said on Tuesday.
NEW YORK: Citigroup said it will pay $15.5 million to Vikram Pandit, its former chief executive who resigned from company last month, as well as to his top deputy.
NEW YORK: US bank Citigroup has cut between 200 and 300 additional jobs, most in the global markets business, The Wall Street Journal reported Sunday. Some of the employees were fired, while others left voluntarily.