Citigroup completes sale of Japanese brokerage in $8.7 billion dealOctober 1st, 2009 Citigroup closes $8.7B sale of Japanese brokerageTOKYO — Citigroup Inc. has completed the sale of its Japanese brokerage to Sumitomo Mitsui Banking Corp.
Singapore sovereign wealth fund cuts its stake in Citigroup to below 5 percent from 9 percentSeptember 22nd, 2009 Singapore cuts ownership stake in CitigroupNEW YORK — A Singapore sovereign wealth fund cut its stake in Citigroup Inc. to below 5 percent from 9 percent on Tuesday, reducing its ownership to the level planned before a recent debt exchange.
Chinese game operator The9 Limited posts 2 quarters of lossesAugust 28th, 2009 The9 Limited posts 2 quarters of lossesNEW YORK — Chinese online game operator and developer The9 Limited said Thursday it lost money in the last two quarters and revenue fell sharply in the April-to-June period. The company said it lost 79.2 million yuan ($11.6 million), or 3.15 yuan (46 cents) per share, in the quarter ended June 30, compared with net income of 99 million yuan ($14.5 million) a year earlier.
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.
California resort where AIG sponsored luxury retreat amid federal bailout seized by CitigroupJuly 21st, 2009 Citigroup seizes resort where AIG held retreatDANA POINT, Calif. — A Southern California resort where American International Group Inc.
Sweden's Nordea posts 11 pct drop in 2Q profit, but raises full-year outlookJuly 21st, 2009 Nordea posts 11 pct drop in 2Q net, raises outlookSTOCKHOLM — The Nordic region's biggest financial group, Nordea Bank AB, on Tuesday reported an 11 percent drop in second-quarter net profit, mainly due to higher loan losses and staff costs, but raised its full-year outlook. Net profit in the quarter fell to euro616 million ($874 million), down from euro692 million in the same quarter last year.
Saudi Prince Alwaleed's Kingdom Holding posts 83 pct drop in Q2 profits on stocks, hotelsJuly 21st, 2009 Saudi prince's Kingdom Hldg Q2 profits drop 83 pctDUBAI, United Arab Emirates — The investment company headed by a Saudi billionaire with a major Citibank stake says its profit tumbled 83 percent in the second quarter because of stock market losses and a slump at its hotel businesses. Kingdom Holding Co., chaired by Prince Alwaleed bin Talal, said in a statement posted Tuesday on the Saudi stock market Web site that its earnings between April and June dropped to 92.1 million riyals ($24.6 million), from 534.7 million riyals during the same period a year earlier.
Citigroup launches offers to exchange preferred stock into common, giving gov't 34 pct stakeJune 10th, 2009 Citigroup launches public exchange offersNEW YORK — Citigroup Inc. on Wednesday launched a series of public exchange offers that will effectively give the government a 34 percent stake in the troubled bank.
Citigroup finalizes agreement with US, launches offers to exchange preferred stock into commonJune 10th, 2009 Citigroup completes agreement with US governmentNEW YORK — Citigroup says it finalized exchange offers with the U.S. government under which the latter will exchange up to $25 billion of Citi preferred securities for interim securities and warrants.
FDIC is pushing for management shake-up at Cititgroup, Wall Street Journal saysJune 5th, 2009 Report: FDIC pushing for shake-up at CitigroupNEW YORK — The Federal Deposit Insurance Corp. is reportedly pressing for a management shake-up at embattled bank Citigroup Inc., putting CEO Vikram Pandit in the hot seat.
Bond insurer MBIA posts 1st-quarter profit, reversing 5 straight losing quarters,May 11th, 2009 MBIA posts 1Q profit after 5 straight lossesNEW YORK — MBIA Inc. is reporting a profit for the first quarter, reversing a string of five consecutive quarterly losses as the bond insurer was rocked by the financial meltdown.
Citi plans to address $5.5B shortfall by converting more preferred shares into common stockMay 8th, 2009 Citigroup convert an additional $5.5B in stockNEW YORK — Citigroup Inc. is planning to convert an extra $5.5 billion of preferred shares into common stock to address its capital shortfall.
Bank stocks give back some of prior day's big gains, dip ahead of stress test resultsMay 5th, 2009 Bank stocks mostly lower ahead of stress testsNEW YORK — Bank stocks were mostly lower Tuesday as investors took profits ahead of results of the government's stress tests. The KBW Bank Index, which tracks 24 of the nation's largest banks, dipped 1.7 percent after jumping 14.7 percent on Monday.
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.
Citigroup exploring brokerage unit's merger with Morgan StanleyJanuary 12th, 2009 NEW YORK - Citigroup is in talks to merge its brokerage unit, Smith Barney, with rival Morgan Stanley, the US bank said in New York Tuesday. No agreement has been reached, Citigroup said in a statement.
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