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Citigroup misses 4th-quarter revenue forecasts as bond trading disappoints

People walk past a Citibank branch of Citigroup in New York. Profit plummeted at the bank because of COVID-19 pandemic. Ron Adar/SOPA Images/LightRocket/Getty Images Citigroup reported mixed fourth-quarter earnings on Friday that were hurt by weaker-than-expected fixed-income trading revenues. The bank reported profits that beat analyst estimates, but revenue fell short.Citigroup saw weakness in its consumer banking arm, with revenues down 14%.Shares of Citigroup fell more than 1% in early ...
Tags: New York, Trends, Markets, Citigroup, Goldman Sachs, Citibank, Federal Reserve, Investment Banking, Wells Fargo, Citi, Jpmorgan, Ron, Jeff Gundlach, Michael Corbat, Matthew Fox, Citigroup Stock


Amazon joins Airbnb, Marriott, and other US corporate giants in cutting off donations to Republican lawmakers who opposed Biden's certification as president

Supporters of US President Donald Trump broke into the US Capitol on January 6, 2021, in Washington, DC. SAUL LOEB/AFP via Getty Images Amazon has become the latest US corporate giant to cut off donations to GOP lawmakers who objected to certifying Democrat Joe Biden as president. It joins Morgan Stanley, Dow, and AT&T in deciding to cut funding to specific Republicans. Separately, JP Morgan, Citibank, Microsoft, and Facebook said they will temporarily pause all political donations to both...
Tags: Google, Amazon, Facebook, Politics, Microsoft, Congress, Hotels, Finance, Senate, Boston, US, Trends, Tech, General Motors, Bloomberg, Joe Biden


Walmart, Amazon and other US corporate giants in cutting off donations to Republican lawmakers who opposed Biden's certification as president

Supporters of US President Donald Trump broke into the US Capitol on January 6, 2021, in Washington, DC. SAUL LOEB/AFP via Getty Images Walmart will halt political donations to lawmakers that opposed certifying president-elect Joe Biden's victory. It joins Amazon, Morgan Stanley, Dow, and AT&T in deciding to cut funding to specific Republicans. Separately, JP Morgan, Citibank, Microsoft, and Facebook said they will temporarily pause all political donations to both Republicans and Democrats...
Tags: Google, Amazon, Facebook, Politics, Microsoft, Congress, Hotels, Finance, Senate, US, Trends, Tech, General Motors, Walmart, Bloomberg, Joe Biden


JPMorgan, Citibank, Microsoft, and Facebook are pausing all political donations to both Republicans and Democrats after the Capitol siege

Getty After Wednesday's Capitol siege, top US firms are suspending political donations. JP Morgan, Citibank, Facebook, and Microsoft have said they are temporarily stopping all donations to both Democrats and Republicans. Other companies are cutting off donations specifically to GOP lawmakers who objected to certifying Democrat Joe Biden as president. Visit Business Insider's homepage for more stories. JPMorgan, Citibank, Facebook, and Microsoft have all said they will temporarily pause p...
Tags: Facebook, Politics, Microsoft, US, Trends, Walmart, Joe Biden, Gop, Jp Morgan, Citibank, Biden, Morgan Stanley, Jp Morgan Chase, Thomson Reuters, Citi, Trump


Microsoft says it's halting all political donations until after it assesses the 'implications of last week's events'

Microsoft said it will not make political donations as it assess the "implications of last week's events" following a siege of the US Capitol. After a violent, pro-Trump mob stormed into the US Capitol building, other firms like Facebook and JPMorgan said they would halt all political donations.  "The PAC regularly pauses its donations in the first quarter of a new Congress, but it will take additional steps this year to consider these recent events and consult with employees," a Microsoft spok...
Tags: Google, Facebook, Politics, News, Microsoft, Congress, Senate, US, Trends, Joe Biden, House, Jp Morgan, PAC, Citibank, Biden, Morgan Stanley


Marriott, Morgan Stanley, Dow, and other US firms are cutting off donations to Republican politicians that opposed Biden's certification as president

Supporters of US President Donald Trump broke into the US Capitol on January 6, 2021, in Washington, DC. SAUL LOEB/AFP via Getty Images Marriott, Morgan Stanley, and Dow are among companies cutting off donations to GOP lawmakers who objected to certifying Democrat Joe Biden as president. Goldman Sachs is reportedly likely to follow suit. Separately, JP Morgan, Citibank, Microsoft, and Facebook said they will temporarily pause all political donations to both Republicans and Democrats comple...
Tags: Facebook, Politics, Microsoft, Congress, Hotels, Finance, Senate, US, Trends, Tech, General Motors, Joe Biden, Companies, Gop, Ford, Washington Dc


Marriott, Morgan Stanley, Dow, and other US firms are cutting off Republicans that opposed Biden's certification as president

Supporters of US President Donald Trump enter the US Capitol's Rotunda on January 6, 2021, in Washington, DC. SAUL LOEB/AFP via Getty Images Marriott, Morgan Stanley, and Dow are among companies cutting off donations to GOP lawmakers who objected to certifying Democrat Joe Biden as president. Goldman Sachs is reportedly likely to follow suit. Separately, JP Morgan and Citibank said they will temporarily pause all political donations to both Republicans and Democrats completely. Last We...
Tags: Facebook, Politics, Congress, Hotels, Finance, Senate, US, Trends, Tech, General Motors, Joe Biden, Companies, Gop, Ford, Washington Dc, Mary Barra


Facebook will pause political donations for at least three months following siege on US Capitol

Donald Trump Mark Zuckerberg Chip Somodevilla/Getty Images/JOSH EDELSON/AFP via Getty Facebook is stopping donations to political parties for at least three months, Axios reported Monday. JP Morgan and Citibank had already made the move, while other companies have said they will cut off donations just to GOP lawmakers who objected to certifying Democrat Joe Biden as president. Facebook last week suspended President Donald Trump's Facebook account "indefinitely." Visit Business Insider's ho...
Tags: Facebook, Politics, News, Advertising, Trends, Joe Biden, Gop, Jp Morgan, PAC, Citibank, Biden, Donald Trump, Morgan Stanley, Trump, Facebook Advertising, Stone


NYSE's perplexing China listings U-turn - More 'mega dream' tech deals - Citi banker in legal spat

The New York Stock Exchange's Stacey Cunningham rang the opening bell for Snowflake's first trading day. NYSE Happy hump day!It's been quite a few days over at the Big Board (aka the New York Stock Exchange). On December 31, the exchange announced it intended to delist three major Chinese telecom companies - China Telecom, China Mobile, and China Unicom Hong Kong. The announcement was a result of an executive order signed by President Donald Trump back in November requiring US inves...
Tags: UK, China, US, Trends, Bloomberg, Chicago, Credit Suisse, Citigroup, Treasury, Ibm, Goldman Sachs, Citibank, New York Stock Exchange, Donald Trump, Nasdaq, Nyse


NYSE reversed its decision to delist three major Chinese telecom companies in a move that's leaving some in the industry confused about what to expect next

The New York Stock Exchange's Stacey Cunningham rang the opening bell for Snowflake's first trading day. NYSE Happy hump day!It's been quite a few days over at the Big Board (aka the New York Stock Exchange). On December 31, the exchange announced it intended to delist three major Chinese telecom companies - China Telecom, China Mobile, and China Unicom Hong Kong. The announcement was a result of an executive order signed by President Donald Trump back in November requiring US inves...
Tags: UK, US, Trends, Bloomberg, Chicago, Credit Suisse, Citigroup, Treasury, Ibm, Goldman Sachs, Citibank, New York Stock Exchange, Donald Trump, Nasdaq, Nyse, Citi


Time Running Out for Gun Owner Comments to Stop Financial ‘Deplatforming’

Powerful money interests are banking on disarmament. You can help thwart them. U.S.A. – -(Ammoland.com)- “Right now, the single most existential threat to free speech in America is the rise of financial deplatforming,” Revolver News observes. “If conservatives want to preserve the ability to think and speak freely in the decades to come, they must act to prevent the country’s most powerful financial institutions from imposing a brutal censorship regime on the entire country.” To demonstrate h...
Tags: Facebook, Twitter, Guns, Obama, Banks, White House, China, America, Paypal, Middle East, Citigroup, Citibank, Resistance, Financial Services, Goa, Jack Dorsey


Thursday is the last day to get $20 off at Amazon with eligible Citibank credit cards

Amazon shoppers with targeted Citi Thank You credit cards can get $20 off a purchase of $50 or more through December 31.
Tags: Amazon, Cnn, Citibank, Citi


Stripe announces embedded business banking service Stripe Treasury

Fintech startup Stripe has announced an ambitious new product today called Stripe Treasury. The company is partnering with banks to offer a banking-as-a-service API. In other words, Stripe clients will be able to provide bank accounts to their customers — the service is invite-only for now. This is part of a bigger trend called embedded finance. Essentially, instead of separating banking services from other services that you use, embedded finance products provide financial services as close a...
Tags: Startups, Finance, Tech, Goldman Sachs, Citibank, Stripe, Fintech, Shopify, Evolve Bank, Shopify Balance, Stripe Treasury, Stripe Treasury for Shopify Balance If a Shopify, U S Eventually Stripe, Barclays Stripe


Every Major Bank Has Now Ruled Out Funding Arctic Drilling

We got another one. On Monday evening, Bank of America said that it will no longer finance fossil fuel exploration in the Arctic, joining Goldman Sachs, Morgan Stanley, Chase, Wells Fargo, and CitiBank, which all announced similar policies this year. That means no major U.S. bank will fund oil and gas production in…Read more...
Tags: Science, Banks, Bank Of America, Arctic, Citibank, Arctic National Wildlife Refuge, Goldman Sachs Morgan Stanley Chase Wells Fargo


United States: OCC Issues $400 Million Civil Penalty In Consent Order With Citibank Over Risk And Data Governance - Balch & Bingham

On October 7, 2020, The Office of the Comptroller of the Currency ("OCC") announced that it had assessed a $400 million civil penalty against Citibank, N.A. regarding alleged deficiencies...
Tags: News, United States, Citibank, Bingham, Office of the Comptroller of the Currency OCC, Balch


Google Fires Next Salvo of Big Tech’s Advance Into Banking

Citibank, BMO Harris, BBVA and Green Dot are among those taking part in Google's attempt to merge mainstream banking into its vision. The post Google Fires Next Salvo of Big Tech’s Advance Into Banking appeared first on The Financial Brand.
Tags: Google, Finance, Spotlight, Citigroup, Citibank, Forrester, Digital Banking Strategies, Mobile Channel, Featured Content, Google Pay, Google Plex, Citibank BMO Harris BBVA


Google Fires Next Salvo in Big Tech’s War on Banking

'Plex,' a combined checking and savings product that plugs into the Google Pay wallet, pulls in more banks. Citibank explains its plans. The post Google Fires Next Salvo in Big Tech’s War on Banking appeared first on The Financial Brand.
Tags: Google, Finance, Spotlight, Citigroup, Citibank, Forrester, Digital Banking Strategies, Mobile Channel, Featured Content, Google Pay, Google Plex


Bet on bank stocks now before a virus vaccine and easier lending lifts the sector in 2021, Jefferies says

People walk past a Citibank branch of Citigroup in New York. Profit plummeted at the bank because of COVID-19 pandemic. Ron Adar/SOPA Images/LightRocket/Getty Images Jefferies raised its rating on financial stocks to "bullish" from "modestly bullish" on Wednesday, citing loosened lending conditions and new hopes for a near-term vaccine.Bank stocks are among the most sensitive to macroeconomic trends, and the latest COVID-19 surge "is likely to lead to some weaker economic data and potential...
Tags: Europe, New York, Time, US, Trends, Citigroup, Bank, Pfizer, Citibank, Federal Reserve, Jefferies, Jpmorgan, Sachs, Ron, Sean Darby, Moderna


Bitcoin's massive rally is different from the 'speculative frenzy' of 2017 as more institutional investors buy in, says Mike Novogratz

REUTERS/Rick Wilking Investor Mike Novogratz told CNBC on Wednesday that Bitcoin's 148% surge this year is different from the retail-driven "speculative frenzy" of 2017, when the cryptocurrency reached $19,000 only to drop 78% a year later. This year's Bitcoin boom is driven by institutional buy-in and investors looking for a hedge against paper money, the Galaxy Digital CEO said.The investor said Bitcoin has "hit escape velocity" and will skyrocket to $60,000 by the end of 2021. Watch Bit...
Tags: US, Trends, Markets, Bank Of America, Bitcoin, Currencies, Citibank, Biden, Btc, Cnbc, Morningstar, Mike Novogratz, Novogratz, Bitcoin Price, Galaxy Digital, Cyrptocurrency


Credit cards add new source of revenue for payment apps

Several of the top payment companies have launched virtual and physical credit card products in the last few months in a bid to grab a bigger share of their consumers’ spending. While payment companies are not authorised to lend credit on their balance-sheets, they are slowly entering the credit market with co-branded credit cards and partnerships with banks and non-bank lenders. Earlier this month, Paytm announced a co-branded credit card partnership with SBI Cards and Payments Services. MobiKw...
Tags: Travel, Google, Credit Cards, News, India, American Express, Citibank, Fintech, Flipkart, UPI, Grant Thornton, Axis Bank, Iyer, Taku, Digital Payments, Medianama


Get $20 off at Amazon with eligible Citibank credit cards

Amazon shoppers with targeted Citi Thank You credit cards can get $20 off a purchase of $50 or more during Prime Day.
Tags: Amazon, Cnn, Citibank, Citi


Citigroup reports 3rd-quarter earnings that beat profit and revenue estimates amid trading surge

People walk past a Citibank branch of Citigroup in New York. Profit plummeted at the bank because of COVID-19 pandemic. Ron Adar/SOPA Images/LightRocket/Getty Images Citigroup on Tuesday reported second-quarter earnings that beat analyst estimates for revenue and profit.The bank's trading desks failed to offset its struggling consumer banking arm, but performed well enough to surprise Wall Street to the upside.Citi shares gained as much as 2% in early Tuesday trading.Watch Citigroup trade l...
Tags: New York, Congress, US, Trends, Bank Of America, Citigroup, Goldman Sachs, Citibank, Morgan Stanley, Citi, Jpmorgan, Ron, Needham, Michael Corbat, Roblox, COVID


Citigroup fined $400 million for risk management deficiencies

Federal banking regulators will fine Citibank $400 million for shortcomings in its risk management and other internal controls processes.
Tags: Cnn, Citigroup, Citibank


Meet Citi’s Next CEO Jane Fraser: How She Climbed to the Top in Banking

Citigroup's President Jane Fraser, in a much-expected promotion, to succeed Michael Corbat as CEO in February 2021. Here's how she got there. The post Meet Citi’s Next CEO Jane Fraser: How She Climbed to the Top in Banking appeared first on The Financial Brand.
Tags: Finance, Citigroup, Citibank, Citi, Michael Corbat, Jane Fraser, Culture & Leadership, Featured Content


Woman gets 70 months for San Fernando Valley bank robberies

A woman was sentenced Friday, Aug. 28, to nearly six years in federal prison for taking part in violent takeover-style bank stickups in the San Fernando Valley. Demenia Hawkins, 40, was also ordered by U.S. District Judge R. Gary Klausner to serve five years on supervised release following her prison term. Hawkins pleaded guilty in February to a single count of aiding and abetting armed bank robbery. One of four defendants in the case, Hawkins acknowledged working with crew leader Robert Michael...
Tags: New York, News, California, Sport, Soccer, Courts, John, Citibank, North Carolina, Trump, St John, Edwards, Hawkins, San Fernando Valley, North Hills, Rancho Palos Verdes


Woman faces prison in San Fernando Valley takeover-style bank heists

LOS ANGELES — A woman is expected to be sentenced Friday to federal prison for taking part in violent takeover-style bank stick-ups in the San Fernando Valley. Demenia Hawkins, 40, pleaded guilty in February to a single federal count of aiding and abetting armed bank robbery, admitting her role in two heists. Although the charge carries a possible maximum penalty of 25 years behind bars, prosecutors are recommending nearly six years in prison and restitution of $15,570, according to documents fi...
Tags: News, Los Angeles, Sport, Soccer, John, Sentencing, Citibank, North Carolina, Local News, St John, Edwards, Hawkins, San Fernando Valley, North Hills, Otero, Michelle Edwards


Citibank sent a hedge fund $175 million by mistake. Now it's struggling to get the money back

America's third largest bank has sued Brigade Capital for $175 million after it accidentally wired that amount to the hedge fund instead of interst of $1.7 million.
Tags: America, Cnn, Citibank, Brigade Capital


Citibank sent a hedge fund $175 million by mistake. Now they can't get the money back

Citibank has a big problem: It mistakenly wired roughly $175 million to Brigade Capital Management, and the hedge fund hasn't returned the money.
Tags: News, Stories, Citibank, Brigade Capital Management