Citigroup Should Be Held Accountable, Obama Aide Podesta Says
By Edwin Chen
Nov. 28 (Bloomberg) — The U.S. government should demand accountability and changes at Citigroup Inc., as well as from automakers, in exchange for any financial assistance, a top transition official for President-elect Barack Obama said.
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Dividends Cut Fastest Since 1950s as Citigroup Conserves Cash
Stock dividends are disappearing at the fastest rate in 50 years as the worsening recession forces U.S. companies to conserve cash.
By Lynn Thomasson and Eric Martin
Nov. 26 (Bloomberg) — Stock dividends are disappearing at the fastest rate in 50 years as the worsening recession [...]
Dow’s biggest 2-day run since ‘87
Citigroup rescue and Obama economic team picks propel stocks. Dow sees its biggest two-session point gain ever and biggest two-session percentage gain in 21 years.
By Alexandra Twin, CNNMoney.com senior writer
NEW YORK (CNNMoney.com) — Stocks surged Monday in a broad rally as Citigroup’s massive rescue package and President-elect Obama’s picks for [...]
U.S. Stocks Rise After Citigroup Gets Government Loan Backing
y Elizabeth Stanton
Nov. 24 (Bloomberg) — U.S. stocks climbed for a second day after the government said it will guarantee $306 billion of troubled Citigroup Inc. assets and Democratic lawmakers pledged to pass an economic stimulus package by January.
Citigroup, which lost more than 60 percent of [...]
U.S. Approves Plan to Help Citigroup Weather Losses
By ERIC DASH
Published: November 23, 2008
Federal regulators approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions of dollars in losses at the struggling bank, the government announced late Sunday night.
The complex plan calls for the government to back about [...]
Citigroup job cut to hit 75,000
US bank Citigroup has announced plans for about 52,000 new job cuts, on top of 23,000 cuts already made this year.
Citigroup said the 75,000 job cuts represented a reduction of about 20% of its staff, leaving it with 300,000 jobs worldwide “in the near term”.
The cuts will come [...]