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HSBC to pay record fine to U.S. government
Stephen Beard Dec 11, 2012
The British bank HSBC is to pay almost $2 billion to U.S. authorities to settle a case over money-laundering and sanctions busting. The penalty is the biggest in the history of U.S. banking regulation.
Citigroup announces 11,000 layoffs
Jeff Horwich Dec 5, 2012
This morning Citi says that total is about to shrink -- 11,000 job cuts worldwide in the next year or two, some of them at least here in the U.S.
Facebook employees poised to cash in
Bob Moon Oct 23, 2012
Restrictions on the sale of Facebook stock by the social media firm's employees end this week, meaning many of them will be millionaires, not just millionaires "on paper." But the sale will likely drive the stock price down.
Allan Sloan: Is Citigroup 'too big to succeed'?
Jeff Horwich Nov 12, 2012
Citigroup has not come roaring out of the financial crisis like Goldman Sachs or JPMorgan Chase. Some analysts think the problems at Citigroup are inherent to the "one-stop-shopping" business model that Citigroup pioneered in the 1990s.
Weak ad revenue pulls Google down
Jeff Horwich Oct 19, 2012
Yesterday Google accidentally fired off its earnings announcement three hours ahead of schedule and profits fell quite short of expectations.
Google shares drop as declining ad prices hit profits
Eve Troeh Oct 18, 2012
Google's quarterly earnings report was mistakenly released while markets were open, instead of after. A 20 percent drop in profits, as prices of online and mobile ads decline, sent shares down immediately.
Michael Corbat selected to lead Citigroup
Jeff Horwich Oct 18, 2012
Yesterday, Vikram Pandit, the head of Citigroup, suddenly resigned saying it was time for new leadership. Pandit has been replaced by Michael Corbat, who was previously leading the bank's Europe, Middle East and Africa division.
Citigroup names new CEO in abrupt switch
Bob Moon Oct 16, 2012
A sudden change of leadership at Citigroup raises new questions about the future of the embattled banking giant.
Vikram Pandit steps down from Citigroup
Jeremy Hobson Oct 16, 2012
Vikram Pandit is stepping down as CEO of Citigroup. He'll be replaced by Michael Corbat, who runs some of the banks overseas divisions.
Bank earnings kick off with JPMorgan blockbuster
Mitchell Hartman Oct 12, 2012
The financial sector is doing better than last year on a bumper mortgage business and lower loan-loss reserves.
