Question-and-Answer Session Operator Operator Instructions Our first question comes from Kate McShane from Citi. Kate McShane - Citi I was wondering if you could talk a little bit about what you are seeing in the competitive environment in the U.S. and how much of your comp store...
By Krista Hughes and Edward TaylorFRANKFURT (Reuters) - Banks risk becoming addicted to cheap central bank cash used to fight the financial crisis and must prepare for its eventual withdrawal, the head of the ECB warned at a Frankfurt banking conference on Friday.Financiers from the head of Deutsche Bank DBKGn...
(Reuters) - Supermarket mogul Ron Burkle and his investment arm, Yucaipa, have purchased a large amount of U.S. luxury retail chain Barneys New York's debt, the Wall Street Journal said, citing people familiar with the matter.Citigroup Inc C sold a big part of Barneys' secured term loan to Burkle at...
BEIJING (Reuters) - The number of U.S.-dollar millionaires in China is expected to nearly double in five years, luring private bankers eager to help them invest an expected combined wealth over $7.6 trillion by 2013, Boston Consulting Group BCG said on Thursday.Global wealth declined last year for the first time...
NEW YORK (Reuters) - Citigroup Inc C said on Tuesday it boosted the base salaries for its chief financial officer and a global markets co-head, but still plans to pay Chief Executive Vikram Pandit $1 for the year.The compensation changes are the latest in a series of shifts by Wall...
Most U.S. stocks ended the week with losses, but the Dow Jones Industrial Average notched a small rise for the period thanks to gains on Friday in health care stocks and consumer-related shares. Tech shares were the biggest losers on the week.
A day after a congressional panel finishes work on legislation to reign in ‘too-big-to-fail’ institutions, it looks like supersized banks won’t be required to break up soon, but that they will have dozens of incentives driving them to become smaller.
During this entire economic crisis I have seen many stupid and/or irresponsible actions taken by the banks and investment firms. But this one from CitiBank is so stupid and irresponsible that it leaves me astonished that anyone that is a customer is willing to sit back and take this.[More...]
After almost a year of initiating the $700 billion Troubled Asset Relief Program (TARP) to rescue the nation’s financial industry, the U.S. Treasury Department said on Thursday that it would auction off stock warrants it acquired from three big banks that received a significant portion of taxpayers’ money and have fully repaid the same. The [...]
Fed Chairman Ben S. Bernanke said after a Nov. 16 speech in New York that it’s “not obvious” that asset prices in the U.S. are out of line with underlying values after a 64 percent jump in the Standard & Poor’s 500 Index from its March low.[More...]
There have been very few newsworthy events in today’s session, and even the handful of scheduled speakers lined up had very little effect on FX markets. The only driver therefore has been the performance of global equity markets; and with both European and US indices in negative territory, the USD has been able to make gains across the board. The hardest hit has been GBP which has tumbled over…
Microsoft, which has been pursuing concurrent improvements for its Visual Basic and C# programming languages, plans to open up compilers for the languages and add capabilities for asynchronous programming and immutability.
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