News
C-PRJ
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UPDATE 1-Morocco’s OCP raises $2 bln in dual-tranche Eurobond
Morocco's OCP raises $2 billion in a dual-tranche Eurobond to fund its green transition plan. The phosphates and fertilisers producer says the bond is split into two tranches due in 10 and 30 years. The plan includes shifting fully to renewables by 2027. Requests for subscriptions reached 3.1 times the amount offered.
Reuters · 20h ago
UPDATE 3-Microsoft-backed Rubrik's stock jumps 21% in NYSE debut
Microsoft-backed Rubrik's stock jumps 21% in NYSE debut on Thursday. The cybersecurity firm's stock is valued at $6.77 billion. Rubrik provides data security solutions to more than 6,100 customers. The company's stock opened at $38.6 in its debut on the NYSE.
Reuters · 1d ago
BUZZ-Microsoft-backed Rubrik jumps >20% in strong NYSE debut
Microsoft-backed Rubrik jumps >20% in strong NYSE debut. Cybersecurity software firm Rubrik Inc's IPO exceeds expectations. RBRK opens at $38.60, 20.6% above the $32 IPO price. Microsoft is a major shareholder in the company.
Reuters · 1d ago
UPDATE 1-BGC Group's FMX Futures gets funding from banking consortium
BGC Group's FMX Futures gets funding from banking consortium. The exchange platform will rival CME Group in the interest rates derivatives market. FMX is expected to launch in September 2024. The consortium includes Bank of America, Citigroup and Goldman Sachs. BGC Group says its exchange platform valued at $667 million.
Reuters · 1d ago
UPDATE 2-BGC Group's FMX Futures takes aim at 'heavyweight champ' CME
BGC Group's FMX Futures platform joins forces with Wall Street's biggest banks to take on CME Group. FMX currently offers trading in cash U.S. Treasuries and spot currencies. Group of financial firms including Bank of America make minority equity investments in FMX. FMx aims to compete with CME in the interest rates derivatives market.
Reuters · 1d ago
UPDATE 3-BGC Group takes aim at 'heavyweight champ' CME exchange
BGC Group's BGC.O FMX business to take on leading exchange operator CME Group. Financial firms including Bank of America and Goldman Sachs make minority equity investments in FMX. FMX aims to compete with CME in the interest rates derivatives market. CME has 99% of the futures market in America.
Reuters · 1d ago
UPDATE 1-Weak GDP, strong prices, highlight Fed dilemma
U.S. Economic growth in the first quarter fell below the Federal Reserve's estimates of the economy's long-run potential. But prices have remained sticky, rising at a 3.4% annual rate versus the Fed's 2% target. Weak GDP, strong prices, highlight Fed dilemma for the central bank.
Reuters · 1d ago
BUZZ-Microsoft-backed Rubrik poised to rise after above-expectations IPO
Cybersecurity software firm Rubrik Inc's RBRK.N shares indicated to open at $37-$39 in its IPO. Rubrik sold 23.5 mln shares above marketed range of $32. Microsoft is a major shareholder in the company and reportedly valued the startup at $4 bln.
Reuters · 1d ago
POLL-Inflation in key African economies to slow into next year
Inflation in key African economies to slow into year but remain stubbornly high in Nigeria, a Reuters poll finds. Inflation in Nigeria is expected to quicken to 29.1% this year from an average of 24.5% last year. The acute shortage of dollars in much of the continent has put inflation under strain. But poll shows inflation will moderate more in countries with diversified sources of dollar revenues.
Reuters · 1d ago
UPDATE 1-Lazard posts first-quarter profit on jump in assets
Lazard's assets under management rose to $250 billion in the first quarter from $232 billion a year earlier. Firm's asset management revenue rose 4% to $295 million. Revenue at Lazard's financial advisory segment rose 63% in the quarter. Lazard posts first-quarter profit on jump in assets.
Reuters · 1d ago
UPDATE 2-Lazard posts first-quarter profit on deals, assets boost
Lazard posts first-quarter profit on deals, assets boost. Investment bank's profit boosted by a string of high-profile mergers and acquisitions it advised on in the first quarter. Lazard's assets under management rose to $250 billion in the quarter from $232 billion a year earlier.
Reuters · 1d ago
UPDATE 3-Lazard posts better-than-expected profit on deals, assets boost
Lazard posts better-than-expected profit on deals, assets boost in first quarter. Investment bank's adjusted revenue jumped 42% to $747 million. Firm advised on a string of high-profile mergers and acquisitions in the quarter. Lazard's assets under management rose to $250 billion from $232 billion.
Reuters · 1d ago
UPDATE 4-BNP Paribas beats estimates as lower costs offset trading slump
BNP Paribas beats estimates as lower costs offset trading slump. French lender reports 20% fall in revenue from fixed income trading in first quarter. Global banking revenue up 6% but corporate banking down 4%. BNPP's net income down 2.2% in Q1; FICC trading sales down 20%. Bank sees 2024 income of more than 11.2 billion euros.
Reuters · 1d ago
UPDATE 1-Microsoft-backed Rubrik prices US IPO above range at $32/shr
Microsoft-backed Rubrik prices US IPO above range at $32/shr. Rubrik upsized its IPO to raise $752 million after selling 23.5 million shares. The cybersecurity software startup counts Microsoft among its investors. The company makes cloud-based ransomware protection and data-backup software.
Reuters · 2d ago
Microsoft-backed Rubrik prices IPO above range at $32 per share, source says
Microsoft-backed Rubrik prices IPO above range at $32 per share, source says. The cybersecurity software startup counts Microsoft among its investors. Rubrik upsized its IPO to raise $752 million after selling 23.5 million shares. The company makes cloud-based ransomware protection and data-backup software.
Reuters · 2d ago
MEDIA-Citi and Wells Fargo are preparing $2 bln Debt Package for Berry, Glatfelter Deal - Bloomberg News
Reuters · 2d ago
HSBC says growing Chinese wealth fuels client investments in US
HSBC says growing Chinese wealth fuels client investments in the U.S. HSBC manages around $1.8 trillion from wealthy clients in China and Hong Kong. The bank's CEO says wealthy Chinese citizens are focused on overseas investments. HSBC bought Citigroup's consumer wealth business in China last year.
Reuters · 2d ago
CITIGROUP ANNOUNCES C$56.782 MILLION REDEMPTION OF 5.160% FIXED RATE / FLOATING RATE SUBORDINATED NOTES DUE 2027
Reuters · 2d ago
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About C-PRJ
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.