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Kuwait Sovereign Wealth Fund Considering Bigger Citigroup and Merrill Stake
2008-06-04 23:31:00 Struggling U.S. financials Citigroup Inc. (C) and Merrill Lynch & Co. Inc. (MER) may get another equity injection from state-owned Kuwait Investment Authority (KIA), the fund?s managing director told Reuters. Their valuations would make it tempting - as both firms are trading near their 52-week lows - but Bader al-Saad said it?s more about the companies? plans for recovery. ?In Citi or Merrill, if there is good opportunity, we will look into it. Do we increase our stake? It all depends on the performance and strategy,? Saad said when asked whether KIA might raise its stakes in both troubled U.S. banks. In January,…
By: Jutia Group
Citigroup arms re-jigger stakes in Vietnamese firms
2008-05-31 19:12:00 The Ho Chi Minh City Stock Exchange announced on its website that Citigroup Global Market Ltd. and Citigroup Global Market Financial Product Ltd. had bought 27,030 shares in Seafood Joint-Stock Company No. 4 (TS4) to raise their stake to 14.29% from 13.97%. The US bank?s subsidiaries had also cut their holdings in... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Citigroup Appoints Sameer Nath As India M&A Head
2008-05-27 08:02:00 Citigroup has got a replacement for Devinjit Singh who recently quit to join as a Managing Director with US private equity fund Carlyle Group (see our 4 Vote(s)
By: Market Buzz
Citigroup Says Swaps Mania in Muniland Is Finished: Joe Mysak - Bloomberg
2008-05-25 16:30:00 May 23 (Bloomberg) — “The use of synthetic fixed-rate munis has fallen, and it isn't coming back.'' So says George Friedlander , municipal strategist at Citigroup Inc. in... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
By: Engineers Voice
Citigroup Says Swaps Mania in Muniland Is Finished: Joe Mysak - Bloomberg
2008-05-25 16:29:00 May 23 (Bloomberg) — “The use of synthetic fixed-rate munis has fallen, and it isn't coming back.'' So says George Friedlander , municipal strategist at Citigroup Inc. in... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
By: Engineers Voice
CC Out Of Court Settlement?
2008-05-12 16:58:00 Radio Info's Tom Taylor's turned off Nick-At-Nite since his earlier foray today into "The Naked City" Tee Vee land in describing today's showdown between Clear Channel Bain & Lee v the banks that got cold feet in the $19.5 bil CC TV spinoff. They literally walked into a Manhattan courtroom and asked for a stay until tomorrow morning - and David Faber at CNBC says the various sides are discussing a possible resolution of the lawsuit filed by Bain Capital and Thomas H. Lee Partners. Those two private equity firms are suing the banks who they claim are holding up the deal. The other thing to watch today is the movement of Clear Channel stock ("CCU") - which turned around and began gaining ground after traders caught Faber's report. More on the Radio-Info.com website, which also has the story about Cumulus and Merrill Lynch canceling their deal to take Cumulus private, and the Emmis quarterly report.
By: Chickaboomer
This Has Been One Of Them...
2008-05-12 13:14:00 "Judge Helen Freedman is known as a speedy and efficient trial judge: she?s been known to issue verdicts directly from the bench instead of waiting to ponder the case and writing up her opinion. Judge Freedman?s last famous case was the Broadway stagehands? strike last Thanksgiving. If you could offer this trial as a pay-per-view ? you?d make a fortune. The Wall Street hands (especially the arbitrageurs) have billions at stake." Tom Taylor's Radio Info in a dramatic headliner: "These Are Their Stories" as the Clear Channel legal clash heads to a NYC courtroom today where Bain, Lee, and Citigroup hash out the banks' reneging on the CC $19.5 bil buyout. "The Naked City" Museum of Broadcast Communications 1948 "The Naked City" movie shooting script. Stirling Silliphant MBC Nelson Riddle "The Naked City" theme
By: Chickaboomer
First Resources up after Citigroup note
2008-05-12 09:18:00 First Resources rose as much as 6.2 percent after Citigroup said in a broker note it expects the firm to post a strong first-quarter net profit. Shares of the Indonesian-based plantation firm... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Citigroup plans to shed about $400bn of assets
2008-05-10 10:01:00 Citigroup Inc chief executive officer Vikram Pandit said he plans to shed about $400 billion of assets over the next three years as part of his plan to return the biggest US bank to profitability.2 Vote(s)
By: Market Buzz
On A Rocky Terrain -Citigroup
2008-05-10 08:41:00 CitiGroup India: On a Rocky Terrain Oil at US$115: Implications for the Economy High Oil Prices are here to stay * With Brent prices currently ruling at US$118/bbl, +21%yoy since the start of the year, high oil prices are likely here ...
On A Rocky Terrain -Citigroup
2008-05-10 08:41:00 CitiGroup India: On a Rocky Terrain Oil at US$115: Implications for the Economy High Oil Prices are here to stay * With Brent prices currently ruling at US$118/bbl, +21%yoy since the start of the year, high oil prices are likely here ...
India: On A Rocky Terrain -Citigroup
2008-05-10 08:01:00 CitiGroupIndia: On a Rocky TerrainOil at US$115: Implications for the Economy High Oil Prices are here to stay ? With Brent prices currently ruling at US$118/bbl, +21%yoy since the start of the year, high oil price5 Vote(s)
By: Market Buzz
Citigroup to Sell $400 Billion in Assets
2008-05-09 23:36:00 CEO Vikram Pandit plans to reduce its current assets by nearly $400 billion within the next three years. The will make Citigroup no longer be the largest bank. The bank currently owns around $2.2 trillion in assets, and has already announced plans to reduce its assets by $65 billion.
Citigroup First Quarter Update, As Promised
2008-05-06 17:45:00 JoJo writes:"Now that Citigroup has posted its first quarter earning for 2008, do you still stand by your original analysis, or you think you have to revise it?"Thanks for getting my butt in gear for the update I promised, JoJo.As many of you may know, Citigroup (C) reported a loss of $5.1 billion in the first quarter, which hardly makes it easy to figure out what a more "normal" quarter would look like for them. While the losses and writedowns did go down in Q1, versus Q4, there is still plenty of cloudiness in Citi's results.Nonetheless, there is no point in shying away from digging through the numbers, even if they are complicated, which is why I even bothered writing about Citi in the first place. The first thing I did was update my spreadsheet showing Citi's quarterly income results by segment going all the way back to 2007. This allows us to see the trend for the last five quarters. Then I added my prior forecasts from February (For those who don't recall, I projected three...
Citigroup Shedding $500 Billion In Assets
2008-05-05 11:46:00 Citigroup Inc. said Friday it aims to shed about $500 billion in assets and grow revenue by 9 percent over the next few years, as it tries to rebound from massive losses tied to deterioration in the mortgage and credit markets.The plans are the most concrete yet by Vikram Pandit, nearing his five-month anniversary as the bank's CEO, to prove himself a capable turnaround specialist at a company that many claim was struggling long before the housing market collapse.The bank's plans to wind down its $2.2 trillion in assets to approximately $1.7 trillion were part of an investor day presentation at one of Citigroup's Manhattan offices.
By: Mortgages
Freshers Walkin at Citigroup Chennai on 19th April
2008-04-19 02:09:00 Freshers Walkin at Citigroup Chennai on 19th April Citigroup Global Services(formerly E-serve International) is the Global Processing Center for Citigroup entities crossways the globe. Driven by state-of-the-art infrastructure, a calibre and control environment, a solid workforce, we strive to bring the best IT-enabled solutions to our clients. As a Global Processing Center and a member of Citigroup ...
Will Citigroup (NYSE:C) Become the Next Penny Stock?
2008-04-18 16:22:00 Citigroup ( NYSE:C ) is (or was) the strongest financial institution in the world. But lately the very viability of the 196 year old institution has been brought into question. Today's earnings results while greeted with applause from last nights closing prices have not yet fundamentally changed market opinion on the stock. Citigroup Center in New York City Depicted in this photo. read more in hotstocked.com
> Citigroup posts $5.11 billion first-quarter loss
2008-04-18 14:44:00 Citigroup posts $5.11 billion first-quarter loss NEW YORK (Reuters) - Citigroup Inc, the largest U.S. bank, on Friday posted its second straight quarterly loss, hurt by more than $15 billion in write-downs and increased reserves for credit losses. The loss totaled $5.11 billion, or $1.02 per share, and compared with a year-earlier profit of $5.01 billion, or ...
Biz Babes: Citigroup?s Dominatrix
2008-04-17 22:17:00 She went from being a little known analyst to becoming the voice Wall Streeters fear the most. Meredith Whitney, an analyst with Oppenheimer & Co., made the gutsy call of blasting Citigroup (owners of Citi Bank) in an October report. At the time, other analysts did not agree with her take on Citi, and she ...
Citigroup (C) Dumping Questionable Corporate Loans - Good or Bad For Stocks
2008-04-09 15:35:00 All things considered, 80 to 90 cents on the dollar may not be bad. Of course, I’m talking about Citigroup’s (C) decision late yesterday to shed about $13 billion worth of leveraged buyout loans that - in the wake of the Bear Stearns (BSC) deal - may be deemed ‘a little problematic’. The net purchase ...
Citigroup continues to see glitches at Web sites
2008-04-08 02:20:00 Citigroup continues to see glitches at Web sitesLast week Citibank customers couldn't log on to check their accounts. On Monday holders of Citigroup's credits cards are blocked. Company says the outage shouldn't last long. http://-www.news....
Money Map points to Citigroup (C)
2008-03-27 06:00:00 "Longer term, history suggests that Citigroup (quote.htm?sym=c) (NYSE: C (quote.htm?sym=c)) will be one of the best turnaround plays out there," says Keith Fitz-Gerald (ccount/click.php?id=1869) in the top-notch Money Map Reporter (ccount/click.php?id=1869). "Based on Travelers alone, Citi's breakup value is roughly 30% higher than where it is trading today. Other business lines suggest even more money on the table."That is why we want to be net buyers at these levels just like some of the smartest money on the planet, including companies like PIMCO and even investors such as Wilber Ross who are legendary for buying on the cheap. "That doesn't mean there won't be more down days to come or that we won't hate every day we own Citi, but the financial sector is essential to the economy and being able to buy in for 25 cents on the dollar makes sense for any savvy investor looking to the longer term. "In recent news, rumors are flying that it's trying to unload its Sou...
Microsoft posiblemente elevará oferta por Yahoo, dice Citigroup
2008-03-27 01:31:00 La correduría Citigroup dijo que probablemente el gigante del software estadounidense Microsoft Corp. subirá su oferta de 31 dólares por acción por la empresa de medios de internet Yahoo Inc. y elevó su recomendación sobre los títulos de Yahoo a “comprar,” desde “mantener.” La correduría también incrementó su precio objetivo para la acción de Yahoo a ...
Citigroup says Microsoft likely to raise Yahoo offer
2008-03-26 20:33:00 Citigroup said it is likely Microsoft Corp will raise its $31-per-share offer for Yahoo Inc and upgraded Yahoo shares to “buy” from “hold.” The brokerage also raised its price target on Yahoo’s stock to $34 from $31, saying it believed Microsoft remained committed to its offer and “is capable of and willing to” increase that bid ...
By: Khawer.info
Citigroup: Microsoft posiblemente elevará oferta por Yahoo
2008-03-26 01:10:00 Según la entidad financiera, Microsoft subirá su oferta de US$31 a US$34 por acción. Citigroup además recomendó mejorar las acciones de Yahoo! desde «mantener» a «comprar» ... Link: FayerWayer Tags: Según, entidad, financiera,, Microsoft, subirá, oferta, US$31, US$34, acción., Citigroup, además, recomendó, mejorar, acciones, Yahoo!, desde, «mantener», «comprar»
Citigroup says Microsoft likely to raise Yahoo offer
2008-03-25 22:26:00 Citigroup says Microsoft likely to raise Yahoo offerThe brokerage also raised its price target on Yahoo's stock to $34 from $31, saying it believed Microsoft remained committed to its offer.(From Reuters)http://news.zdnet.com/2-100-9595_22-62...
Citigroup Cuts an Additional 2,000 Jobs
2008-03-21 02:37:00 Citigroup announced that it was cutting an additional 2,000 new jobs in its investment banking division. The largest U.S. bank has been experiencing significant drops in revenues due to its credit problems and large exposure to sub-prime lending.
Citigroup sees at least 100 bps US rate cut on Tuesday
2008-03-15 05:17:00 NEW YORK - Citigroup believes the Federal Reserve will lower the benchmark US federal funds target rate by at least 100 basis points at its policy-setting meeting in a bid to stabilise financial... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Citigroup to overhaul troubled US mortgage business
(AFP)
2008-03-07 02:56:00 2 hours, 58 minutes ago ...
Citigroup (C) - Worst Decline Ever?
2008-03-07 01:21:00 Down another 4% today, Citigroup is now 61.3% below its 52-week high reached in May 2007. As shown below, this is the furthest Citi has traded below its 52-week high since at least 1986. Many investors are likely familiar with prior troubles at Citi 7 Vote(s)
By: Market Buzz
Citigroup: 3G iPhone Coming within 4 Months
2008-03-05 03:10:00 AlleyInsider reports that Rich Gardner, a Citigroup analyst, “comes back from Taiwan with some good news”. Gardner had meetings with key consumer electronics supply manufacturers in Taiwan and now believes Apple plans to introduce a 3G iPhone model in the second calendar quarter of this year. In a research note to clients, Gardner also reports that ...
By: Eye On Apple
Citigroup May Need upto $30 Billion in More Capital
2008-03-05 01:40:00 Shares of Citigroup fail to a nine year low Tuesday after a prominent Middle Eastern investor reported that the bank will need more then $30 billion in additional capital in order to get by. Citigroup's shares are now trading at $21.23 down nearly 60 percent since last January as the bank has been struggling to deal with massive losses.
Citigroup: checks point to 3G iPhone within four months
2008-03-04 21:23:00 Following overseas meetings with members of the Taiwanese PC and consumer electronics supply chain, analysts for investment bank Citigroup said they have high convictions that Apple intends to roll out a 3G iPhone during the second quarter of the year. “Several sources confirmed the introduction of a new 3G iPhone during [the second calendar quarter],” analyst Rich Garder wrote in an industry news flash bulletin distributed to clients on Tuesday. read it here appleinsider.com
By: iPhonetunes
Citigroup Highlights Marco Risks of Viet Nam's Economy
2008-02-28 16:30:00 Citigroup has warned that macro risks of ?s economy have heightened, which are mainly attributed to rising inflation and surging trade and current accounts deficit, the Saigon Times newspaper said. A ballooning goods trade deficit caused a substantially larger current account deficit last year, which could have... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Citigroup
2008-02-27 14:43:00 ?Citigroup is organized into four major business groups: Global Consumer; Markets and Banking (M&B); GlobalWealth Management; and Alternative Investments. The Citigroup Global Consumer business includes banking services, credit cards, loans and insurance. The M&B business is in about 100 countries and advises companies, governments, and institutional investors on the best way to realize their strategic objectives. The GlobalWealth Management division at Citigroup is comprised of The Citigroup Private Bank, Smith Barney (private wealth management), and Citigroup Investment Research,and serves both private and institutional clients.?Here are my reasons for buying:-As a general rule I?ve found that the best time to buy large multinational blue chips is when everyone else hates them.-Currently 45% of their revenue is generated outside of the United States and their current focus is to increase this number to 60%.-They have the world?s largest credit card operation.-In my opinion they ar...
Citigroup - C
2008-02-27 14:17:00 "Citigroup is organized into four major business groups: Global Consumer; Markets and Banking (M&B); GlobalWealth Management; and Alternative Investments. The Citigroup Global Consumer business includes banking services, credit cards, loans and insurance. The M&B business is in about 100 countries and advises companies, governments, and institutional investors on the best way to realize their strategic objectives. The GlobalWealth Management division at Citigroup is comprised of The Citigroup Private Bank, Smith Barney (private wealth management), and Citigroup Investment Research,and serves both private and institutional clients.?Here are my reasons for averaging down:-As a general rule I?ve found that the best time to buy large multinational blue chips is when everyone else hates them.-Currently 45% of their revenue is generated outside of the United States and their current focus is to increase this number to 60%.-They have the world?s largest credit card operation.-In my opinion...
Citigroup ? C
2008-02-26 18:59:00 I'm currently travelling so this post will be short.Last Friday I added about a quarter position to my Citigroup holding. I continue to like Citi for the same reasons as I did when I originally initiated a position in November. Tomorrow I?ll provide a full analysis of C as well as the new fair price that I?ve calculated.
New Bank Superfund, China?s Bear Market, Silver on the Rise, and More!
2008-02-25 20:29:00 by Addison Wiggin & Ian Mathias Global banks unite for another bailout ?superfund? — who?s the target and how it?s moving markets More Shanghai shellacking? Mayer on opportunities still remaining despite a recent Chinese bear market Dollar flirts with all-time lows? Chuck Butler on the greenback?s next move Our Maniac Trader on silver?s sudden breakout? just the beginning ...
U.S. Debt In Foreign Hands, Russia to Buy Fannie and Freddie, Financials to
2008-02-22 20:39:00 by Addison Wiggin & Ian Mathias Surprising data: U.S. debt still has takers… is our democracy doomed? Russian SWFs get OK to invest in America? but only in the two worst stocks on the market Analyst that predicated the January financials plunge calls for 15-50% more losses How a Philadelphia survey might herald an entire U.S. manufacturing decline ...
Citigroup Break-Up Analysis - Part 2
2008-02-20 17:22:00 Okay, so after looking over Citigroup (C) net income by segment over the last four years (see prior post), it's time to make some projections about the future profitability of the company. First, I am going to do an extremely conservative valuation to try and find out what our likely downside is with the stock. Clearly, these are simply educated guesses at this point, so they could prove way off base.Nonetheless, if I make a point to be both very conservative and realistic, it will likely be a valuable exercise. As Citigroup reports future earnings (first quarter numbers are due in April), I can see how the projections are holding up and making adjustments if needed.Sticking with the conservative view, I am going to use a price-earnings ratio of 10x for each of Citigroup's businesses. One can certainly argue that some divisions are worth more than that, but I'll factor that into my more aggressive valuation model later on. For now, conservatism means 10x earnings.As you saw from ...
Citigroup Break-Up Analysis - Part 1
2008-02-15 19:31:00 Long before the sub-prime debacle really got going, shareholders of Citigroup (C) were clamoring for the company to break itself up into several pieces. The argument for such a move stemmed from the fact that enormously large companies get very difficult to manage. By splitting them into smaller free standing operations, they not only can be managed better, but stand a greater chance of growing if they are let loose on their own with separate management teams acting autonomously.Although I was/am not a Citigroup shareholder, I can certainly understand this concept and think it has a lot of merit. Of course, Citigroup did not break itself up, and now the sub-prime crisis has depressed the share price so much that many pieces of Citi are doing well, but have been ignored as writedowns take center stage.Doing some kind of break-up analysis can go a long way to figuring out how much each business unit within Citigroup is worth. This would make it easier to figure out if the current shar...
Forbes quant banks on Citigroup (C)
2008-02-14 07:00:00 "Although I remain bearish on the economy for the time being, I am turning more bullish on stocks," says Vahan Janjigian (ccount/click.php?id=1744), editor of The Forbes Growth Investor (ccount/click.php?id=1744). He adds, "I believe stocks have fallen enough to be attractive to all investors except those with very short horizons. And my recommendation for Citigroup (quote.htm?sym=c) (NYSE: C (quote.htm?sym=c)) conveys my conviction that some of the best opportunities for long-term gains will come from the oversold financial sector.""There is much debate about whether or not a recession is coming. In my view, it has already arrived. But whether or not it’s an 'official' recession is largely irrelevant. The Federal Reserve is obviously so alarmed it has slashed interest rates at a record-breaking pace "With more than 300,000 employees serving 200 million accounts in over 100 countries, Citigroup is a financial services supermarket. But the collapse of the subprime mortg...
Fed may have to cut rates to 1% or lower: Citigroup
2008-02-13 11:55:00 (NEW YORK) The Federal Reserve may have 'waited for too long' to cut interest rates in September, and it may have to reduce borrowing costs to one per cent or lower this year, according to Citigroup... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Citigroup to inject US$3.3b capital for SIVs
2008-02-13 03:43:00 NEW YORK - Citigroup plans to inject about US$3.3 billion into six of the seven structured investment vehicles (SIVs) it took onto its balance sheet last year, to shore up their credit ratings and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Project Lifeline: Bank of America, Citigroup, Countrywide, JP Morgan, Washi
2008-02-12 14:01:00 With the credit crunch hitting the U.S. hard, a collection of banks are getting together in ?Project Lifeline? with the aim of helping US homeowners. US house prices are getting depressed thanks to unsold homes and six major US banks are about to announce their plans to offer help to US homeowners with their mortgages. The BBC ...
By: Product Reviews
Banks Drain Reserves, Insider Buying Surges, Wheat?s New Record, Pollution
2008-02-06 20:37:00 by Addison Wiggin & Ian Mathias U.S. banks drain reserves to Depression-era lows Markets fall across the world? service sector data points to recession But all hope is not lost: LIBOR returns to normal, insider buying hits 13-year high Wheat soars to record high? Kevin Kerr on ?big story? in agriculture this year China ...
UNITED STATES: Wall Street se une a la lucha contra el cambio climático con
2008-02-06 03:11:00 Tres bancos de Wall Street se unieron hoy a la lucha contra el cambio climático al anunciar que se guiarán por los llamados "principios del carbono", que pondrán más difícil a las empresas energéticas obtener financiación para construir en Estados Unidos centrales eléctricas que funcionen con carbón.Los "principios del carbono" han sido establecidos por Citigroup, J.P. Morgan Chase y Morgan Stanley, tras consultar con empresas energéticas estadounidenses, grupos ecologistas y organizaciones no gubernamentales.Se trata de la primera vez que unos bancos se unen en Estados Unidos para establecer principios medioambientales que sirvan como guías a la hora de ofrecer préstamos a las empresas energéticas."Estos principios son el resultado de un esfuerzo intensivo de nueve meses para crear una propuesta para evaluar y hacer frente a los riesgos del carbono a la hora de financiar proyectos de generación de energía", señalaron en un comunicado conjunto Citigroup, J.P. Morgan Chase y Morgan S...
ICBC Deposes Citigroup as Chinese Banks Rule in New World Order - Bloomberg
2008-02-04 09:07:00 ICBC Deposes Citigroup as Chinese Banks Rule in New World OrderBloomberg - 57 minutes ago4 (Bloomberg) -- There's a new world order for banks, and the Chinese, for the first time, are the biggest, with a market capitalization that has made ... |
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