Citigroup

Citigroup News

Axis Bank set to buy Citigroup's India consumer business; deal to be announced soon
Business

Axis Bank set to buy Citigroup's India consumer business; deal to be announced soon

The Citigroup's retail business comprises credit cards, retail banking, home loans and wealth management. The bank has 35 branches in the country and employs about 4,000 people in the consumer banking business

Goldman Sachs becomes first big American bank to leave Russia
World

Goldman Sachs becomes first big American bank to leave Russia

According to its latest annual report, the firm's exposure to Russia stood at $650 million at the end of 2021, with the vast majority tied to claims by private actors and borrowers.

Banished and dissociated: These businesses and institutions are cutting ties with Donald Trump
World

Banished and dissociated: These businesses and institutions are cutting ties with Donald Trump

Big businesses donate to both political parties and say their support is tied to narrow issues of specific interest to their industries. Now, a flurry of companies are reviewing their giving practices.

Citigroup names Jane Fraser as next CEO; 53-yr-old will become first woman to lead a Wall Street bank
World

Citigroup names Jane Fraser as next CEO; 53-yr-old will become first woman to lead a Wall Street bank

Fraser is currently head of Citi's global consumer banking division, a major part of the bank that oversees checking and savings accounts

'No one has a playbook for this': US companies highlight challenges faced by workplaces in countering coronavirus
World

'No one has a playbook for this': US companies highlight challenges faced by workplaces in countering coronavirus

Microsoft, Amazon, Ford Motor, CNN, Citigroup and Twitter have put employees through work-from-home drills, dusted off emergency-response plans and ordered increasingly stringent safety measures to protect their workers

Citigroup, Credit Suisse, Nomura among banks curbing trips to Italy on fears over coronavirus outbreak: Report
Business

Citigroup, Credit Suisse, Nomura among banks curbing trips to Italy on fears over coronavirus outbreak: Report

The curbs come as coronavirus infections have soared across northern Italy over the past few days, causing seven deaths and more than 200 cases.

Aramco kickstarts world's biggest IPO on Sunday in a bid to diversify economy, offers scant details
Business

Aramco kickstarts world's biggest IPO on Sunday in a bid to diversify economy, offers scant details

The IPO preparations were revived this summer after Aramco attracted huge interest in its first international bond sale, seen as a pre-IPO relationship-building exercise with investors.

Flipkart launches credit card in partnership with Axis Bank, Mastercard; offers unlimited cashback
Business

Flipkart launches credit card in partnership with Axis Bank, Mastercard; offers unlimited cashback

The Flipkart-Axis Bank credit card will fetch users 5 percent cashback on all transactions on co-branded merchants

Idea Cellular launches a share sale to raise $546 million before merger with Vodafone
News & Analysis

Idea Cellular launches a share sale to raise $546 million before merger with Vodafone

Idea, part of the metals-to-financials Aditya Birla conglomerate, intends to use the funds to reduce debt including loans for airwave purchases.

Citibank, J.P.Morgan and Bank of America bar use of credit cards for buying bitcoins, other cryptocurrencies
Business

Citibank, J.P.Morgan and Bank of America bar use of credit cards for buying bitcoins, other cryptocurrencies

Reserve Bank of India (RBI), country’s banking ombudsman, has also flagged off certain risks associated with the use of virtual or crytpocurrencies

Bitcoin futures trade set to kick off after taking Wall Street by surprise in a rollercoaster week
News & Analysis

Bitcoin futures trade set to kick off after taking Wall Street by surprise in a rollercoaster week

Futures are cash-settled contracts based on the auction price of bitcoin in dollars on the Gemini Exchange, owned and operated by currency entrepreneurs.

JPMorgan and Citi to not immediately clear bitcoin trades for clients once future contract tradings begin next week
News & Analysis

JPMorgan and Citi to not immediately clear bitcoin trades for clients once future contract tradings begin next week

Goldman Sachs Group Inc on Thursday said it is planning to clear bitcoin futures for some clients as the new contracts go live.

Saudi Prince Alwaleed bin Talal held: West Asia's Warren Buffet worth $17 bn, is an advocate of women's rights
World

Saudi Prince Alwaleed bin Talal held: West Asia's Warren Buffet worth $17 bn, is an advocate of women's rights

Saudi Arabia’s future king has tightened his grip on power through an anti-corruption purge by arresting royals, ministers and investors including Alwaleed bin Talal.

Uber and Barclays are teaming up to offer a 'reward-enriched credit card' in the United States
News & Analysis

Uber and Barclays are teaming up to offer a 'reward-enriched credit card' in the United States

Uber and bank officials said on Wednesday the card will be free and offer a $100 starting bonus, plus an annual $50 credit on digital subscription services.

Tesla is looking to raise $1.5 billion as it plans to ramp up the production of Model 3
News & Analysis

Tesla is looking to raise $1.5 billion as it plans to ramp up the production of Model 3

Elon Musk-led Tesla is counting on the Model 3, its least pricey car, to become a profitable, mass market manufacturer of electric cars.

Crown Castle to expand fibre footprint in US northeast by acquiring Lightower for $7.1 billion
News & Analysis

Crown Castle to expand fibre footprint in US northeast by acquiring Lightower for $7.1 billion

Crown Castle expects the deal to add about $465 million to $485 million to adjusted funds from operations before financing costs in the first year of ownership.

Goldman, Citigroup among 5 bankers selected for IOC's Rs 6,000 cr stake sale
Business

Goldman, Citigroup among 5 bankers selected for IOC's Rs 6,000 cr stake sale

The government had last sold 10 percent stake in IOC at Rs 387 per share in August 2015 and raised Rs 9,369 crore.

Apple could aim at Tesla, Netflix or Walt Disney as potential takeover targets
News & Analysis

Apple could aim at Tesla, Netflix or Walt Disney as potential takeover targets

Citigroup listed seven companies as potential takeover targets for Apple Inc, including Netflix, Walt Disney, and Tesla Inc, as a way to put its cash hoard of more than $250 billion to work.

Fund flows into domestic stock markets may almost double to $55 bn in FY19: Citigroup
Business

Fund flows into domestic stock markets may almost double to $55 bn in FY19: Citigroup

Mutual fund managers had invested a net sum of Rs 2,040 crore in February, and in January there was an inflow of Rs 5,234 crore