There is speculation that internet bank Egg is to be put up for sale by Wall Street banking giant, Citigroup.
According to Sky News, the bank will be looking for around £500 million for its internet banking arm and will launch a formal process next month.
Today, a spokesperson for Citigroup said: “We do not comment on [...]
Shares in US banking giants, Bank of America (BoA) and Citigroup, fell on Friday after both banks reported their second quarter profits.
Firstly, Bank of America said net income fell to $3.1 billion in the second quarter from $3.2 billion in the same period a year earlier, while revenue was down 11% to $29.15 billion from [...]
Eight Wall Street banks are facing an investigation following allegations that they provided misleading information to several ratings agencies in order to gain a better rating for mortgage securities.
New York Attorney General, Andrew Cuomo, has launched the investigation and the banks under scrutiny are Goldman Sachs, Morgan Stanley, UBS AG, Citigroup, Credit Suisse, Deutsche [...]
Citigroup has pledged $1 million in grants to local microfinance groups across Haiti.
The money will be distributed via three microfinance providers, and will help to rebuild the country’s microfinance industry,
The industry, together with the rest of the country, was devastated by the January earthquake in Leogane.
SOGESOL, Fonkoze and FINCA Haiti will use the grant [...]
Last month, the US Treasury Department announced plans to sell its 27% stake in Citigroup this year, in what will be one of the largest stock sales ever.
Today, the Department said it had authorised the first sale of up to 1.5 billion shares – the equivalent of around 20% of the 7.7 billion shares of [...]
The US Treasury Department has today announced it is selling its 27% stake in Citigroup this year, in what will be one of the largest stock sales ever.
According to the department, around 7.7 billion shares in the bailed-out bank will be sold in stages.
The stock is currently worth around $33 billion (£22 billion) at [...]