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Stock Market & Financial Investment News

News Breaks
April 22, 2014
10:43 EDTCCitigroup to resubmit capital plan in 2015, address issues in 2014
Citigroup CEO Michael Corbat said at today's annual meeting, "Based on our conversations with the Federal Reserve, we don't believe their objection was owing to an issue with our business model, our strategy, levels of capital, or capability to generate capital. We are consulting closely with the Fed to identify exactly where they believe our procedures fall short, so that we can fix the problems they've identified. And rather than resubmitting this year, we've decided to focus our energies on addressing those issues in preparation for our 2015 capital plan. This will require investment in new talent, the acceleration of spending on certain systems, and changes to the way we build, validate and test our scenarios....I want, and our shareholders deserve, an industrial strength, permanent solution that paves the way for sustainable capital return over time. And achieving that will be my highest priority for the remainder of 2014."
News For C From The Last 14 Days
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September 19, 2014
07:17 EDTCCitigroup up against hard situation in Argentina bond plea, Reuters says
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September 18, 2014
14:08 EDTCBanks look to high-interest personal loans to boost revenue, WSJ says
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September 17, 2014
13:16 EDTCHolder says DOJ looking to charge bank executives, Washington Post says
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September 16, 2014
14:44 EDTCVirginia AG files $1.15B lawsuit against banks that sold RMBS during crisis
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06:32 EDTCSpringleaf could be potential bidder for Citigroup's OneMain unit, WSJ reports
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September 15, 2014
16:50 EDTCCitigroup releases results of its mid-cycle stress test
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14:11 EDTCCitigroup reports August credit loss 2.57% vs. 1.98% last month
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09:35 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TSLA RSH YHOO GILD TWTR AVNR NFLX BAC C
07:49 EDTCDOJ, FBI 'flip' bank informants as part of forex probe, WSJ says
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September 13, 2014
17:47 EDTCCitigroup said to plan OneMain IPO by month-end, Bloomberg says
Citigroup is set to take its consumer lending unit OneMain Financial public by the end of the month and then start soliciting offers from potential buyers, says Bloomberg, citing people familiar with the matter. According to sources, OneMain is worth at least $4B in a sale, added Bloomberg. Reference Link
September 12, 2014
09:37 EDTCActive equity options trading on open
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07:41 EDTCBank lending grew in quarter, with Capital One leading pack, WSJ reports
Total loans outstanding at U.S. banks and thrifts grew by $178.5B in the second quarter, with Capital One Financial (COF) leading the big banks by growing its loans at an annualized rate of 12.5%, according to SNL Financial data, reported The Wall Street Journal. SNL said 14 of the 15 largest U.S. banks increased their lending, with only Bank of America (BAC) issuing fewer loans than the quarter before, largely attributed to a drop in U.S. closed-end residential mortgages, the report noted. Other publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:35 EDTCApple getting discounted card fees for Apple Pay, NY Times reports
Banks are charging Apple lower than usual credit card fees for the tech giant's new mobile payment system, according to The New York Times. The banks hope that participating in Apple Pay will enable them to process transactions that aren't currently being paid for with credit cards, the newspaper explained. The banks and credit card networks also hope to use Apple Pay to prevent technologies that don't incorporate banks from becoming popular, The Times reported. Publicly traded credit card networks include American Express (AXP), Capital One (COF), Discover (DFS), MasterCard (MA) and Visa (V). Publicly traded banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC)..Reference Link
06:25 EDTCCiti Diners Club attracts attention of banks in Japan, Bloomberg says
Citigroup's (C)’s Diners Club card is among some of the firm's resources in Japan that is attracting attention from lenders as the company looks for offers for its retail division in the country, according to Bloomberg, citing people with knowledge of the matter. The sources said that Sumitomo Mitsui (SMFG), Mizuho Financial Group (MFG), Mitsubishi UFJ (MTU), Sumitomo Mitsui Trust and Shinsei Bank are some of the banks that are poised to propose preliminary offers. Reference Link
September 11, 2014
09:17 EDTCSinger request for Citi to disclose Argentine threats denied, NY Post says
Manhattan Federal Judge Thomas Griesa said he would take “no action” on Paul Singer’s request to compel Citibank to disclose information on any “demands, threats or inducements” made by Argentina related to bond payments due in September, reported The New York Post. Reference Link
07:21 EDTCBankruptcy bill focused on big bank failure moves past committee, WSJ says
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September 10, 2014
09:38 EDTCActive equity options trading on open
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07:16 EDTCRepublicans, Democrats both push for harder 'too big to fail' rules, WSJ says
Lawmakers from both the Republican and Democrat sides of the aisle urged U.S. regulators to push forward additional regulations to ensure the biggest banks aren't "too big to fail," said The Wall Street Journal. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:09 EDTCCitigroup CEO pledges to beef up Banamex, WSJ reports
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06:35 EDTCFed may raise capital requirement for some banks to 11.5%, NY Times reports
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