Latest Citigroup Inc News

Political spat over climate risks in investments gets hotter

Nov. 01, 2022 18:23 PM EDT

ST. PAUL, Minn. (AP) — The political fight is only getting fiercer over whether it’s financially wise or “woke” folly to consider a company’s impact on climate change, workers’ rights and other issues when making investments. Republicans from North Dakota to Texas are...

AmEx profits up 3%, but still sets cash aside for downturn

Oct. 21, 2022 10:50 AM EDT

NEW YORK (AP) — American Express profits rose a modest 3% in the third quarter despite a significant rise in spending by cardmembers. Revenue surged 24% to $13.56 billion, but profit its being curbed as the credit card giant sets aside hundreds of millions of dollars to cover...

BofA profits fall as bank sets aside money for downturn

Oct. 17, 2022 08:03 AM EDT

NEW YORK (AP) — Bank of America's profits fell by 8% in the third quarter as the bank set aside cash to cover potential loan losses. It's the latest bank to start socking away money for a potential recession, as Wall Street's biggest banks have become increasingly gloomy on the U.S. economy going...

Bank CEOs increasingly turning pessimistic on economy

Oct. 14, 2022 14:11 PM EDT

NEW YORK (AP) — The outlook for the U.S. economy from Wall Street’s biggest banks is getting gloomier, with many top executives saying they're preparing for a potential downturn or a recession. Following the short but potent pandemic recession in 2020, many bank CEOs have spent...

Asian shares mostly lower ahead of price, earnings reports

Oct. 12, 2022 00:07 AM EDT

TOKYO (AP) — Asian shares were mostly lower on Wednesday following another volatile day on Wall Street, as traders braced for updates on inflation and corporate earnings. Benchmarks fell in Tokyo, Shanghai and Hong Kong but rose in Sydney. In currency trading the...