Latest Citigroup Inc News

Turkish turmoil knocks US and European stocks lower

Aug. 10, 2018 4:53 PM EDT

NEW YORK (AP) — Stocks in the U.S. and Europe skidded Friday as investors worried about the financial stability of Turkey and how it might affect the global banking system. Turkish President Recep Tayyip Erdogan has accumulated more and more control over the country's central bank as well as its financial...

Citigroup and Caterpillar slide while Overstock rises

Aug. 10, 2018 4:33 PM EDT

NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday: Overstock.com Inc., up $3.05 to $41.65 The online discount retailer said a private equity firm is investing in its blockchain business. Citigroup Inc., down $1.72 to $70.26 Bank stocks fell as interest rates turned lower. Banco...

Asian markets extend losses on China-US trade jitters

Aug. 1, 2018 11:57 PM EDT

BANGKOK (AP) — Share benchmarks in Asia are sliding, tracking losses overnight on Wall Street, where investors sold industrial stocks following reports that the Trump administration is considering a higher tax rate on Chinese imports. KEEPING SCORE: Japan's Nikkei 225 index sank 0.7 percent to 22,596.31...

Wells Fargo to pay $2.1 billion for role in housing bubble

Aug. 1, 2018 3:34 PM EDT

NEW YORK (AP) — Wells Fargo agreed Wednesday to pay a $2.1 billion fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble that ultimately led to the 2008 financial crisis. The amount is relatively smaller than the fines paid by Bank of America,...

Troubled Deutsche Bank accelerates restructuring

Jul. 25, 2018 6:22 AM EDT

FRANKFURT, Germany (AP) — Germany's struggling Deutsche Bank said Wednesday that its net profit fell less than expected in the second quarter as it was making quicker progress in cutting costs and reshaping its business model after three straight years of losses. Net profit fell to 401 million euros ($467...

Asian stocks fall, weighed by tensions over US trade tariffs

Jul. 16, 2018 11:26 PM EDT

SINGAPORE (AP) — Asian markets fell on Tuesday as mounting tensions over U.S. tariffs overshadowed data suggesting global growth was still on track. KEEPING SCORE: South Korea's Kospi lost 0.2 percent to 2,297.64 and Hong Kong's Hang Seng lost 1.0 percent to 28,247.53 in morning trading. The Shanghai...

Wells Fargo and AT&T slide while Walmart and Terex climb

Jul. 13, 2018 5:11 PM EDT

NEW YORK (AP) — Stocks that moved substantially or traded heavily on Friday: Wells Fargo & Co., down 67 cents to $55.36 The bank's profit disappointed investors as a scandal over fraudulent accounts continued to affect its business. Citigroup Inc., down $1.51 to $67 The bank's revenue growth was...

Despite some wobbles, stocks end the week with more gains

Jul. 13, 2018 4:49 PM EDT

NEW YORK (AP) — Stocks wrapped up another solid week Friday as industrial and energy companies ticked higher, but corporate earnings got off to a sluggish start as reports from several major U.S. banks failed to excite investors. Indexes wobbled in morning trading, but rising oil prices helped energy...

Markets Right Now: US stocks notch another weekly gain

Jul. 13, 2018 4:14 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing out their second straight week of gains, despite some wobbly trading during the day, as industrial and energy companies climbed. The gains weren't all that broad on Friday, however, and slightly...

JPMorgan's profits rise 18 percent, helped by lower taxes

Jul. 13, 2018 1:15 PM EDT

NEW YORK (AP) — JPMorgan Chase's second-quarter profits rose by 18 percent from a year ago, as the nation's largest bank by assets and revenue continues to benefit from higher interest rates and a lower tax bill following last year's passage of President Donald Trump's tax law. JPMorgan said Friday that it...