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MID-DAY UPDATE: China’s plans and Citi’s biz
Starting out today’s news with some China stories. The U.S. is investigating China’s clean-tech policies for violations of international trade rules. Also in China, Communist party leaders are laying out that country’s next 5-year plan.
In France, French strikers have blocked access to refineries and oil depots to protest the government’s plan to raise the retirement age.
Citibank and a private equity firm are heading to court amidst allegations that Citi tricked the firm into buying EMI. Meanwhile, Citi is busy building its core business, but faces a myriad of issues.
We also explore why philanthropists have decreased their contributions and reporter Jeremy Hobson checks in with Christopher Miraldi, who lost his job in 2008 as a banker on Wall Street after 20 years in the business. We find out what’s next for Miraldi.