News
C
58.17
+2.02%
1.15
Discover Financial's profit falls on higher loan loss provisions
Discover Financial's profit falls on higher loan loss provisions. The lender set aside more in rainy-day funds to cover for potential credit losses. U.S. Banks have increased their provisions for losses from bad loans as interest rates rise. Discover agreed to be acquired by Capital One Financial in a $35.3 billion deal.
Reuters · 9h ago
Market Reaction To Bank Earnings Is Mixed, JPMorgan Analysts Project Further Decline In Net Interest Income
U.S. Financial sector has seen mixed investor reactions to recent earnings releases. Citigroup Inc and Wells Fargo reported earnings on April 12. Citizens Financial Group reported a beat on EPS but a miss on revenue on Wednesday. JPMorgan Chase anticipates a challenging quarter for banks. The Fed delaying the rate cut decision has muted market sentiment.
Benzinga · 9h ago
Noteworthy Wednesday Option Activity: AI, GWW, C
NASDAQ · 10h ago
Citizens Financial (CFG) Q1 Earnings Miss Estimates, Costs Rise
NASDAQ · 12h ago
EXCLUSIVE-Abu Dhabi Islamic Bank in talks to buy $1.1 bln stake in Indonesian lender, sources say
Abu Dhabi Islamic Bank in talks to buy $1.1 bln stake in Indonesian lender, sources say. Sources say Abu Dhabi's largest Islamic bank is in talks for a 15% stake in Bank Syariah Indonesia. The bank is looking to tap into a fast-growing market in Southeast Asia.
Reuters · 14h ago
Morgan Stanley, HSBC said to cut Asia investment-banking jobs
Seeking Alpha · 16h ago
How to Boost Your Portfolio with Top Finance Stocks Set to Beat Earnings
NASDAQ · 17h ago
Morgan Stanley and HSBC Cut Asia-Pacific Jobs Amid Slowing Deals.
TipRanks · 17h ago
BUZZ-APi Group drops on stock offering
APi Group Corp's AGP.N shares down 5.1% at $37.11 premarket after follow-on priced. Co announces 11 mln shares for $412.5 million in stock offering. APi also announced purchase of elevator/escalator services firm Elevated Facility Service.
Reuters · 18h ago
Banks falling behind on messaging app scrutiny, survey finds
Survey finds banks falling behind on monitoring and archiving of all business-related communications using personal messaging apps. 63% of compliance executives say they are monitoring staff usage of WhatsApp for compliance purposes. Just 27% said they are investing in communications surveillance capabilities, survey finds. Banks fall behind on messaging app scrutiny, compliance firm SteelEye says.
Reuters · 18h ago
Bank ETFs in Focus on Mixed Q1 Earnings
NASDAQ · 18h ago
EXCLUSIVE-Abu Dhabi's largest Islamic bank in talks to buy $1.1 bln stake in Indonesian lender, sources say
Abu Dhabi's largest Islamic bank in talks to buy $1.1 bln stake in Indonesian lender, sources say. Bank Syariah Indonesia is a fast-growing market for Islamic banking services in Southeast Asia. Sources say Abu Dhabi's biggest Islamic bank is in talks for a 15% stake in the lender.
Reuters · 18h ago
WRAPUP 4-Morgan Stanley, HSBC cutting Asia investment banking jobs on China deals slowdown
Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific region this week. The cuts come amid a slowdown in dealmaking and sluggish markets in China and Hong Kong. Morgan Stanley is cutting at least 50 jobs in Asia Pacific this week, sources say. HSBC is expected to cut around 30 dealmakers in the region.
Reuters · 18h ago
UPDATE 1-Aerospace parts manufacturer Loar Holdings aims up to $2.28 bln valuation in US IPO
Aerospace parts manufacturer Loar Holdings aims up to $2.28 bln valuation in US IPO. New York-based company aims to raise $286 million by offering 11 million shares. The company will list its shares on the New York Stock Exchange under the symbol "LOAR"
Reuters · 19h ago
Analysts’ Opinions Are Mixed on These Financial Stocks: Citigroup (C), Bank of New York Mellon Corporation (BK) and Wells Fargo (WFC)
TipRanks · 21h ago
CORRECTED-WRAPUP 2-Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs on deal slowdown
Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs on deal slowdown. Morgan Stanley is cutting at least 50 jobs in the region starting this week, sources say. Money raised via China IPOs plunged 82% and two-thirds in the first quarter. The cuts are among the largest to the two banks' China-focused investment banking teams.
Reuters · 22h ago
Analysts Have Conflicting Sentiments on These Financial Companies: Citigroup (C), Zurich Insurance Group (OtherZFSVF) and Banca Mediolanum SpA (OtherBNMDF)
TipRanks · 22h ago
UPDATE 2-Morgan Stanley cuts dozens of investment banking jobs in Asia-Pacific, sources say
Sources say Morgan Stanley is cutting at least 50 investment banking jobs in Asia-Pacific. The layoffs affect around 13% of the bank's Asia investment banking workforce, sources say. Bankers based in Hong Kong and mainland China are going to be affected the most, they say. The cuts are due to a slump in China markets.
Reuters · 1d ago
JPMorgan/Citigroup Earnings Summaries: The Banking System Is In Pretty Good Shape
JPMorgan and Citigroup both reported their calendar Q1 ’24 financial results last week. JPMorgan JPMorgan fell hard after their earnings release. Citi traded better after Friday’s earnings release, but the bank is still stuck with the typical problems. The banking system is in pretty good shape.
Seeking Alpha · 1d ago
UPDATE 1-Big banks led by Citi continue to trim staff to cut costs
Big banks led by Citi continue to trim staff to cut costs in the first quarter. Headcount at Bank of America, Wells Fargo and PNC Financial declined by about 2,000 jobs combined. Banks are under pressure to control costs due to uncertain economic outlook. JPMorgan Chase added 2, thousand employees in first quarter to 311,921.
Reuters · 1d ago
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About C
Citigroup Inc. is a diversified financial services holding company. Its segments include Services, Markets, Banking, U.S. Personal Banking (USPB) and Wealth. Services segment includes treasury and trade solutions (TTS) and securities services. TTS provides an integrated suite of tailored cash management, trade and working capital solutions to multinational corporations, financial institutions and public sector organizations. Markets segment provides corporate, institutional and public sector clients around the world with a full range of sales and trading services across equities, foreign exchange, rates, spread products and commodities. Banking segment includes investment banking, which supports client capital-raising needs to help strengthen and grow their businesses. USPB segment includes branded cards and retail services, which have proprietary card portfolios and co-branded card portfolios. Wealth includes private bank, wealth at work and Citigold and provides financial services.