Citi Increases Contributions to the New 'CauseWorld' App from shopkick, Inc.
2010-03-09 07:27:58
Quote: CauseWorldusers are also benefiting Haitian and Chilean earthquake relief efforts.CitiCiti's new microfinance causes and additional financialcontribution underscore their focus on creating sustainable impact."shopkick is backed by Kleiner Perkins and Reid Hoffman.Apple'siPhoneGoogle'sAndroidiPhoneCitiKraftFoods so that the user can spend collected karmas on real worldcharitable actions like planting trees, feeding families in America orproviding clean water to people in Sudan.FacebookAmericanRed...
Read article[$$] Citi's Shedlin to Join Morgan Stanley
2010-03-09 07:27:58
Quote: BY MATTHIAS RIEKERAND JESSICA PAPINI NEW YORK—Gary Shedlin, a senior Citigroup Inc. investment banker who has advised BlackRock Inc. on many deals, is joining Morgan Stanley. Mr. Shedlin, 46 years old, was Citigroup's chairman of investment banking for financial institutions, a position without management responsibility, and will hold a similar post at Morgan Stanley, where he will be a vice chairman, Morgan Stanley confirmed. David Head, 48, will continue to lead Citi's .........
Read articleDEALTALK-Spurned by banks, China property firms court PE funds
2010-03-09 07:27:57
Keywords: Asia,China,Emerging countries,Real estate (industry),Fund management and asset allocation,Mergers and Acquisitions (including Changes of Ownership),
Quote: Citigroup Inc's (C.N) private bank joined hands with
state-owned conglomerate China Resources Group to raise about
$500 million for real estate funds to invest in Chinese
shopping malls, Reuters reported last month. [ID:nSGE61O0BR] Last week, Franklin Templeton's real estate arm said it
aims to raise $300 million for its second Asian real estate
fund, which includes China as a market focus. Developers used to turn to the stock market for
fund-raising via IPOs. Most investors, however, are no lon...
Read articleUPDATE - Citi hires ex-Tribridge partner to head Asia distressed
2010-03-09 07:27:57
Keywords: Hong Kong,Asia,Emerging countries,Banks (industry group),Financials,Investment services,Fund management and asset allocation,Netherlands,Western Europe,Europe,United States of America,Management issues/policy,Banks,China,Company News item,Economic news, E
Quote: UPDATE 1-Citi hires ex-Tribridge partner to head Asia distressed
* John Liptak to head Citi's Asia-Pac distressed group * Was partner at Tribridge, set up Asian distressed fund(Adds more detail) HONG KONG, March 9 (Reuters) - Citigroup (C.N) has hired John
Liptak from Hong Kong-based hedge fund Tribridge Capital to head
its Asia Pacific distressed and special situations group, an
internal memo seen by Reuters showed. Liptak, who has been involved in Asian distressed investing
for 12 years, was ...
Read articleMOVES-Citigroup, Pacific Alliance, RBC Wealth Management
2010-03-09 07:27:56
Keywords: Management issues/policy,Banks (industry group),Financials,Fund management and asset allocation,United States of America,Banks,Australia,Asia,Real estate (industry),France,Western Europe,Europe,Financial services - diversified,Germany,Company News item,Ec
Quote: MOVES-Citigroup, Pacific Alliance, RBC Wealth Management
March 9 (Reuters) - The following financial services
industry appointments were announced on Tuesday. To inform us
of other job changes, send an email to
moves@thomsonreuters.com. CITIGROUP (C.N) Citigroup said it has hired John Liptak from Hong
Kong-based hedge fund Tribridge Capital to head its
Asia-Pacific distressed and special situations group, according
to an internal memo seen by Reuters. [ID:nTOE62804S] LIBERTY INTERNATIONAL UNDER...
Read articleCitigroup shares: No longer toxic?
2010-03-09 07:27:56
Keywords: citi, citigroup, investing, share price, TARP
Quote: Citigroup shares: No longer toxic?By Scott Cendrowski, reporterMarch 9, 2010: 4:31 AM ETNEW YORK (Fortune) -- Yes, Citigroup lost billions in the financial crisis. And yes, it's still swimming in toxic assets. But Bruce Berkowitz argues the worst is over.CFortune 500)shares.In an interview with Fortune, Berkowitz said Citi's balance sheet is slowly improving. He calculates that even its bad assets now return more than 5%."People are so focused on the liabilities," he says, "that t...
Read articleBank of America Scores Biggest Bounce
2010-03-09 07:27:55
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Michael Baron ,Financial Services
Quote: Between dealing with the fallout of the CARD Act and heightened mortgage repurchase requests, there's certainly a chance that earnings could fall short of expectations.Citigroup(C), for example, is projected to break even for the period, which would be a strong improvement from its in-line loss of 33 cents a share in the fourth quarter. Goldman Sachs(GS) is currently expected to earn $4.23 a share for the March period, but Rochdale Securities analyst Richard Bove cut his 2010 estimates for the c...
Read article[$$] Clash Over 'Too Big to Fail'
2010-03-05 04:35:15
Quote: government guarantee to protect the largest financial firms, a Treasury Department official said, as a congressional watchdog criticized the $45 billion in government aid provided to Citigroup Inc. Herbert Allison, who oversees the Treasury's $700 billion financial-rescue plan, disagreed with members of a congressional oversight panel that some financial firms benefit from the assumption that the government would step in to prevent their failure. "There is no too-big-to-fail guarantee on the p...
Read articleFor the Euro's Laggards, Would a Devaluation Help?
2010-03-05 04:35:14
Quote: And the chief economist of Citigroup, Willem Buiter, has come up with a possible reason for the difference. It comes down to where you're from.
It is no coincidence, says Mr. Buiter, once a member of the Monetary Policy Committee of the Bank of England, that the euro-devaluationists are predominantly in the U.S.
He argues they are familiar with the U.S. economy, where foreign trade makes up a small proportion of economic output and where there are what he calls "long-lasting nominal rigidities"....
Read articleObama reasserts Volcker rule, U.S. Senate bill seen
2010-03-04 03:18:52
Quote: Lobbying groups for large banks sent a letter to lawmakers
on Wednesday saying that the Fed should retain its role as the
supervisor of large bank holding companies, such as Citigroup
(C.N) and Bank of America (BAC.N). Despite sharp criticism leveled at the U.S. central bank
over its failures as a bank supervisor before the crisis, the
approach backed by the lobbyists also will likely be included
in the Dodd bill, said lawmakers, aides and lobbyists. They said another component of the deal calls...
Read articleCitigroup's Pandit to Say 'Thanks'
2010-03-04 03:18:48
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, TheStreet Staff ,Banks
Quote: WASHINGTON (TheStreet) -- Citigroup(C Quote) CEO Vikram Pandit Thursday will find himself once again in front of a congressional panel overseeing the bailout of U.S. banks.Pandit is expected to tell the Congressional Oversight Panel that the company looks and is run very differently than when he arrived in 2007, the Wall Street Journal reports, citing people familiar with Pandit's planned remarks.Citigroup's CEO, in fact, will thank the U.S. government for providing $45 billion of bailout money...
Read articleThe Loneliest Voice in Washington Gets Company
2010-03-04 03:18:48
Quote: Vikram PanditCitigroup Inc. and Herb Allison, the Treasury official responsible for financial stability. She declined to say what she plans to ask Mr. Pandit specifically, but suggested he should be ready to show he's making progress at Citi -- unwinding risk, modifying loans and tackling compensation issues.
Mr. Pandit might also expect a question about lending. It's an issue all bailout recipients should be tackling, Ms. Warren said. It is one thing to deny someone without credit a loan, quite...
Read articleBig Bank Backlash
2010-03-04 03:18:48
Keywords: John Zogby, Big Business, Banks, Wall Street, Finance
Quote: Morgan, CitigroupCnewspeople) and the rest of the banking giants. As the past two years have shown, understanding the workings of America's banks may require an accounting Rosetta Stone. Also, as consumers well know, banks have ways to increase revenue from existing customers. The question is whether the Move Your Money campaign has picked up about all the support it's going to get, or whether it will keep growing. If the latter, the big banks will eventually feel some pain.Voter anger at big ba...
Read article[$$] Pandit Returns to Capitol's Hot Seat
2010-03-04 03:18:48
Quote: BY RANDALL SMITHCitigroup Inc. Chief Executive Vikram Pandit will be in an uncomfortably familiar position Thursday when he testifies to the congressional panel in charge of overseeing the U.S. government's rescue of battered financial firms. The New York company still has $25 billion in money from the U.S. Treasury, which owns a 27% stake that makes some lawmakers leery about taxpayer exposure to the financial giant. A spokesman for the panel said Mr. Pandit will be prodded about whether Citig...
Read articleUPDATE - Warburg Pincus may buy $230 mln Primerica stock
2010-03-03 02:14:27
Keywords: United States of America,U.S. corporate debt,Debt,Banking services,Financial services - diversified,Financial service providers,Private equity funds,Fund management and asset allocation,Management issues/policy,Regulation and enforcement,Banks (industry g
Quote: UPDATE 2-Warburg Pincus may buy $230 mln Primerica stock
* Warburg Pincus may buy $230 mln or more Primerica stock * Citigroup selling Primerica shares to public * Earlier effort to sell all of Primerica failed(Adds board representation, Primerica details, other Warburginvestments) NEW YORK, March 2 (Reuters) - The private equity firm
Warburg Pincus LLC plans to buy as much as $230 million of
common stock in Primerica Inc from Citigroup Inc (C.N) in
connection with the bank's planned initial pu...
Read articleREFILE-Pudong Bnk confirms stake sale, declines to name investor
2010-03-03 02:14:26
Keywords: China,Asia,Emerging countries,Banks (industry group),Financials,United States of America,Mergers and Acquisitions (including Changes of Ownership),Banks,Wireless telecommunication services,Telecommunication services (sector),Hong Kong,Business activities,
Quote: REFILE-Pudong Bnk confirms stake sale, declines to name investor
(Refiles to add name of newspaper in third paragraph) SHANGHAI, March 3 (Reuters) - Shanghai Pudong Development
Bank (600000.SS), part-owned by Citigroup Inc (C.N), has already
decided on a strategic investor to sell a stake to, state media
reported on Wednesday, citing its chairman. Ji Xiaohui declined to comment on whether China Mobile would
be the investor. However, the Securities Times cited unnamed sources as saying
that the G...
Read articleEurope's Original Sin
2010-03-03 02:14:25
Quote: Since then no country has been fined.
Citigroup and a former member of the Monetary Policy Committee of the Bank of England, described the 1996 agreement aimed at enforcing the debt and deficit rules as "a paper tiger."
"It is ineffective, because for a while it created the illusion that there were sticks and carrots capable of changing the fiscal behavior of the member states, when in reality there were neither," he wrote in a new research report.
The lax attitude to fiscal rules began early. ...
Read articleJohn Prestbo's Indexed Investor: Dogs of the Dow teach investors new tricks
2010-03-03 02:14:24
Keywords: Investing|Stocks, INDU, Dow Jones Industrial Average, CSCO, Cisco Systems Inc, C, Citigroup Inc, SPY, SPDR S&P 500 ETF, VEIPX, Vanguard Equity Inc;Inv, FEQTX, Fidelity Equity-Inc II, JPM, JPMorgan Chase & Co
Quote: and Citigroup/quotes/comstock/13*!c/quotes/nls/c(C3.40,+0.01,+0.29%)There is merit in waiting for the subpar performance of these high-yield and/or low-priced stocks to revert to average -- and, who knows, maybe even accelerate into above-average range. Again, there are no guarantees, but Dow stocks are chosen in part for their stamina and resilience.The problem with the Dogs of the Dow is not the strategy itself, but positioning it as a way to beat the market. The track record is becoming less ...
Read articleWall St. Bailout Eases New York's Downturn
2010-03-03 02:14:23
Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote: Zandi said.
Citigroup alone received $45 billion in aid. JPMorgan Chase borrowed $25 billion, and Goldman Sachs and Morgan Stanley got $10 billion each. But each gained far more from the Federal Reserve’s policy of holding interest rates at very low levels for all of last year, helping them to amass record annual profits.
“The bailout was substantial, and it had a profound effect on Wall Street,†Mr. Parrott said. “It didn’t prevent substantial losses, but they wo...
Read articleDelaware Broadens Standards for Poison Pills
2010-03-03 02:14:23
Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote: Factset Sharkrepellent, 41 companies including Citigroup and Pulte Homes adopted these types of pills last year.Selectica itself is a microcap survivor of the dot.com bubble with $160 million of net operating losses, a market capitalization of about $11 million, little revenue and no profits.It is uncertain whether Selectica will ever return to profitability in order to use these net operating losses, or N.O.L.s, as the court refers to them.
On Dec. 18, after Selectica’s adoption of the N...
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