Pandit says Citigroup plans to exit Smith Barney venture with Morgan Stanley, repay TARPSeptember 16th, 2009 Citi plans to sell remaining Smith Barney stakeNEW YORK — Citigroup Inc. CEO Vikram Pandit confirmed Wednesday that the bank plans to eventually sell the remaining stake in its Smith Barney brokerage venture to Morgan Stanley, which owns the other half.
Weyerhaeuser completes sale of commercial business to Atlas HoldingsAugust 17th, 2009 Weyerhaeuser completes sale of 4 plants to AtlasFEDERAL WAY, Wash. — Timber and wood products company Weyerhaeuser Co.
Citigroup sells entire stake in Nikko Asset Management for $795M to Sumitomo TrustJuly 30th, 2009 Citigroup sells stake in Japanese asset managerNEW YORK — Citigroup Inc. said Thursday it is selling its entire majority stake in a Japanese asset management company to The Sumitomo Trust and Banking Co Ltd.
Citigroup closes portion of debt exchange, moves forward giving gov't 34 pct stakeJuly 23rd, 2009 Citigroup closes portion of debt exchangeNEW YORK — Citigroup Inc. on Thursday carried out a part of the debt exchange offers that, when they're completed, will eventually give the federal government a 34 percent stake in the troubled bank.
Citigroup records profit, breaking six quarter slumpJuly 17th, 2009 NEW YORK - The sale of its controlling stake in a brokerage helped Citigroup Friday to surprise analysts and announce $4.3 billion of net income in the second quarter of 2009, after six quarters of falling ever further into the red. However, the fact that the entire uptick into positive numbers was due to its decision to merge the Smith Barney brokerage into a joint venture to be controlled by Morgan Stanley, created questions as to whether the company could continue to earn profits in the near term.
Citigroup, Bank of America surprise with profitJuly 17th, 2009 NEW YORK - Citigroup and Bank of America Friday reported billions of dollars in second-quarter profits, matching a flow of positive earnings from other US banks this week despite being heavily dependent on government loans for survival. But both banks also warned of still-high credit risks amid the ongoing financial crisis, and their surprising profits were mostly due to one-time asset sales that won't be repeated.
Citigroup sells NikkoCitu Trust to Nomura Trust in scale back of Japan businessJuly 1st, 2009 Citigroup sells NikkoCiti Trust to Nomura TrustTOKYO — Nomura Trust and Banking Co. is acquiring NikkoCiti Trust and Banking Corp.
TD Ameritrade completes $606 million acquisition of thinkorswim GroupJune 12th, 2009 TD Ameritrade completes thinkorswim acquisitionOMAHA, Neb. — Online brokerage TD Ameritrade Holding Corp.
Report: Citigroup may need to raise $10 billion in extra capital to meet new gov't standardsMay 2nd, 2009 Report: Citigroup may need $10B in extra capitalNEW YORK — Citigroup Inc. may need to raise as much as $10 billion to meet the government's increased capital standards for banks outlined in its stress tests, according to a report.
Banking group Sumitomo Mitsui to buy Citigroup's Japan brokerage unit for $5.6 billionMay 1st, 2009 Sumitomo Mitsui to buy brokerage from CitigroupTOKYO — Sumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said Friday, as part of a bigger plan to restructure the struggling U.S. bank. The deal is Japan's first acquisition of a leading brokerage by a bank.
Sumitomo Mitsui to buy Citigroup's Japan brokerage unitMay 1st, 2009 Sumitomo Mitsui, Citigroup reach deal on brokerageTOKYO — Sumitomo Mitsui is taking over Citigroup's Japan brokerage businesses, both sides said Friday, as part of a bigger plan to restructure the struggling U.S. bank. Sumitomo Mitsui Financial Group Inc.
Report: Sumitomo Mitsui at basic agreement to buy Citigroup brokerage unitsApril 28th, 2009 Report: Sumitomo Mitsui, Citigroup near dealTOKYO — Major Japanese bank Sumitomo Mitsui Financial Group Inc. has reached a basic agreement to buy a Japan-based brokerage unit from Citigroup Inc.
Reports: Sumitomo Mitsui most likely candidate to buy Citigroup Japan unitApril 25th, 2009 Reports: Sumitomo likely to buy Japan CitigroupTOKYO — Sumitomo Mitsui Financial Group Inc. has emerged as the most likely candidate to buy Citigroup Inc.'s Japanese brokerage unit after offering the highest bid worth $5 billion, reports said Saturday.
Citigroup posts losses, lower than expected, in Q1April 17th, 2009 NEW YORK - US banking giant Citigroup reported Friday it lost $966 million in the first quarter of 2009, better than analysts' projections. Citigroup had lost $5.1 billion in the first quarter of 2008.
Tata Teleservices completes stake sale to DoCoMoMarch 26th, 2009 NEW DELHI - The 26 percent stake sale in telecommunications major Tata Teleservices to Japanese telecom company NTT DoCoMo has been completed, the Indian company's parent Tata Sons said Thursday. 'DoCoMo has also completed its payment obligations under the tender offer and is preparing to acquire approximately 12 percent of the common shares of Tata Teleservices (Maharashtra) Ltd through an open offer,' Tata Sons said in a regulatory statement.
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