Citigroup posts $9.83 billion quarterly loss
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Citigroup Inc on Tuesday posted its first quarterly loss since its creation in 1998, hurt by write-downs for exposure to subprime mortgages and other risky debt.
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Citigroup Inc.  shares fell more than 2 percent early Monday, after Merrill Lynch analyst Guy Moszkowski cut his stock rating to "neutral" from "buy," citing recent ethics problems.
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Financial-services giant Citigroup Inc. will pay $250,000 to settle allegations it used misleading sales material on hedge funds, the National Association of Securities Dealers announced Monday.
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Citigroup told employees on Tuesday that it regretted executing a $13.5 billion bond trade that has raised the ire of rival traders in Europe and led to an investigation by regulators in Britain.
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In NEW YORK story headlined "UPDATE 4-Citigroup profit  rises 12 percent, cautious on 2005," please read in paragraph  11 "Citigroup shares fell 51 cents, or 1.1 percent, to  $47.50..." instead of "...to $37.50.
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Citigroup Inc. today said it suffered losses of nearly $10 billion in the last three months of 2007 as problems with risky sub-prime loans continued to rattle the country's major financial companies.
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A contrarian investment strategy known  as "Dogs of the Dow" has been a laggard this year, pulled down  by Citigroup Inc
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Capital One Financial Corp , a  credit card issuer and banking company, posted a third quarter  net loss, hurt by charges from shuttering its GreenPoint  Mortgage business.
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Citigroup Inc. C.N shares fell as  much as 2.75 percent on Monday after a prominent Wall Street  analyst downgraded the world's largest financial services  company, citing a string of recent ethics problems.
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At first blush, CNBC's report that Citigroup could announce up to $24 billion in write-downs Tuesday because of credit-related losses sounds like disastrous news. That figure is much higher than what sell-side analysts were expecting, and more than twice the high end of Citi's previous estimate in early November, which put the losses at $8 [...].
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Citigroup Inc  awarded Chief  Executive Vikram Pandit $26.7 million of shares and 3 million  stock options, six weeks after he took over the largest U.S.  bank, and a week after reporting a record $9.83 billion  quarterly loss.
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Citigroup Inc  may need to slash its dividend 40 percent to preserve capital, and with Merrill Lynch & Co  and JPMorgan Chase & Co  may write off more than $33 billion of debt this quarter as the credit crunch deepens, a Goldman Sachs & Co analyst said.
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Citigroup Inc said on Tuesday it plans to raise $14.5 billion, slash its dividend and cut 4,200 jobs to shore up its balance sheet after a write-down for mortgages led to a record $9.83 billion quarterly loss.
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U.S. stock index futures pared losses on Tuesday after Citigroup Inc , a component of the Dow , reported quarterly results. For details, see .
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Citigroup was fined $250,000 for failings in its hedge-fund business yesterday and agreed to close its Japanese trust banking arm as its regulatory problems continued.
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The FTSE 100 closed sharply lower Tuesday -- its lowest level for over a year -- as a 9.8 billion dollars Q4 loss from Citigroup and weaker than expected retail sales sent the Dow into an early three-figure dive, with retailers back in the spotlight after Christmas trading updates from Tesco and Debenhams.
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Citigroup Inc  on Tuesday cut its quarterly dividend 41 percent, and said it is raising $14.5 billion from offerings of convertible preferred securities.