Citi likely to announce dividend cut, layoffs: report
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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 announced another big investment by foreign investors after taking a $18.1 billion write-down and a $9.83 billion fourth-quarter loss, while its C.E.O. said it would cut 4,200 jobs.
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Citigroup Inc on Tuesday said it is raising at least $14.5 billion and cutting its quarterly dividend 41 percent to help shore up a capital base depleted by losses on subprime mortgages and consumer credit.
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Merrill Lynch is expected to report that it will add to its announced write-downs, a person briefed on the plan said.
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Citigroup Inc  is selling or closing some retail branches and consumer finance operations in Asia, Europe and Latin America to focus on more profitable businesses, the Wall Street Journal reported on Tuesday.
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WASHINGTON (Dow Jones/AP) - Financial services giant Citigroup says the Securities and Exchange Commission is considering recommending charges against two of its former employees and a current worker.
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Intel will announce the results of an internal review of its operations next week that could result in thousands of layoffs at the company, according to published reports.
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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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Ford Motor Co. could announce a new round of salaried job cuts as soon as Friday, according to a published report.
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Japan's financial regulator 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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Intel will announce results of an internal review next week that could include thousands of layoffs, a report said.
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) Chief Executive Michael Cherkasky on Tuesday said 90 percent of the 3,000 employees the company plans to lay off will be notified on Wednesday.
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NEW YORK -- The Securities and Exchange Commission is considering recommending charges against a Citigroup executive whose departure was announced this week, the financial-services giant said Friday.
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Citigroup Inc , Merrill Lynch & Co  and JPMorgan Chase & Co  may face larger fourth-quarter debt write-offs 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 expects a $15 billion fourth-quarter  write-down at Merrill Lynch & Co Inc  and said  CDO/subprime exposures will decline by 50 percent to 70 percent  in aggregate.
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Citigroup Inc.  on Friday said it is cutting jobs in its corporate and investment bank to save money, and a person familiar with the decision said more than 1,000 positions may be lost.
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Stock index futures fell before the start of Wall Street trading on Tuesday with the focus on Citigroup's  earnings as well as economic data for clues about the Federal Reserve's next monetary policy move.