Citigroup could write down up to $24 billion: report
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Citigroup Inc.  could make as much as $24 billion in writedowns and lay off 20,000 workers as part of a plan to cut costs and boost capital, CNBC said on its Website in a report dated Sunday.
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Citigroup Inc , which last week posted a record $9.83 billion quarterly loss, on Tuesday said it has strengthened its balance sheet and replenished depleted capital levels by raising about $30 billion in the last two months.
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Shares of Citigroup Inc  and  other financial companies suffered broad declines for a second  day on Tuesday, as evidence mounted that borrowers are spending  less and falling behind on more payments, and the U.S. economy  might be near or in recession.
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Japan's financial regulators may suspend  or even end some private banking operations at the Japanese  commercial banking unit of U.S. financial services firm  Citigroup Inc., the Nihon Keizai newspaper said on Thursday.
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U.S. and European banks including  Citigroup Inc  and HSBC Holdings PLC  are  considering selling off parts of their businesses as they  prepare for tough times ahead, the Wall Street Journal  reported.
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Citigroup Inc  is combining its  emerging-markets credit group and its global credit-trading  business, bringing together traders who focus on the global  credit markets, the Wall Street Journal reported in its online  edition on Monday, citing an internal memo.
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Citigroup Inc  has barred  investors in one of its hedge funds from withdrawing their  money, and a new leveraged fund lost 52 percent in its first  three months, the Wall Street Journal reported on Friday.
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Merrill Lynch is expected to report today that it will add about $2.5 billion more to the $5 billion in write-downs it has already announced, a person briefed on the situation said.
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Citigroup Inc.  and Merrill Lynch & Co Inc.  are in discussions to receive more capital from investors, primarily foreign governments, The Wall Street Journal reported on Thursday.
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Citigroup  will announce plans to  cut payrolls by 17,000 to 24,000 people when it reports  earnings on Tuesday, CNBC television reported on Monday, adding  that the layoffs could take place over a year.
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Citigroup Inc is likely to announce on Tuesday a significant dividend cut, at least $10 billion of new capital and a writedown of as much of $20 billion, the Wall Street Journal reported on Monday.
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Citigroup Inc , Merrill Lynch & Co  and JPMorgan Chase & Co  may face larger fourth-quarter write-offs of fixed-income securities than previously expected, and Citigroup may have to slash its dividend 40 percent to preserve capital, according to a Goldman Sachs & Co analyst.
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Citigroup said Thursday that it planned to take $49 billion of structured investment vehicles onto its balance sheet, after ratings agenciesâ threats to downgrade the debt.
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Citigroup said in a research note that  UBS  could face up to 20 billion Swiss francs ($18.10  billion) in new writedowns in 2008 after revealing it has $80  billion in exposures to subprime loans and other debt.
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Investor's Business Daily - The ex-Fed chief said it's not clear if a proposed $75 bil fund to ease the current credit crisis will work. The fund, created by Citigroup, Bank of America and JPMorgan, will buy high-quality assets of structured investment vehicles. Alan Greenspan said, "The issue here is how do you stabilize this sort of market ... will an intervention do that? If you go into a market and absorb a chunk of supply by essentially bidding above what fire-sale prices might be, that might persuade others from trying to get out of the market."
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U.S. financial institutions are on the  hook for as much as $70 billion in new write-downs from bond  insurers in 2008, Oppenheimer said on Wednesday, as losses from  ailing monolines spread deeper into European bank results.
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Citigroup Inc.  is in advanced  talks to buy Automated Trading Desk, an electronic trading  firm, for about $700 million, The Wall Street Journal Online  reported on Tuesday.