IIP likely to be below 4% on fading base effect: Citigroup

IIP likely to be below 4% on fading base effect: Citigroup

Country's industrial production may remain below 4 percent in November, a Citigroup report says adding that the base effect is likely to fade as in the corresponding period last year IIP was at 5.2 percent.

Watch out for US recession, zero interest rates in China next year: Citi

Watch out for US recession, zero interest rates in China next year: Citi

The outlook for the global economy next year is darkening, with a US recession and China becoming the first major emerging market to slash interest rates to zero both potential scenarios, according to Citi. 

Citigroup to offer Swift's services to Indian firms

Under the pact, Swift India Domestic Services will act as a channel for payments, cash management, trade finance and treasury transactions for Citi's corporate customers, the Citigroup said in a statement.

Citi sees modest pick-up in GDP growth to 7.5% this fiscal

Citi sees modest pick-up in GDP growth to 7.5% this fiscal

It said that despite challenges in agricultural and manufacturing sectors, the recovery is likely to sustain as both fiscal and monetary policy are turning growth supportive.

Citi launches integrated banking product for younger customers

American lender Citi Wednesday announced a new product offering in the country targeted at people below 40 years of age, seeking to address multiple banking needs of the growing segment through a single relationship.

Citigroup aims to boost equities franchise amid industry shakeout

Citigroup plans to rebuild its long-neglected equities franchise seeking to capitalize on a retrenchment by rivals in the face of new rules designed to make the financial system less risky, according to people familiar with the bank`s plans.

Citigroup pays $180 mn to settle hedge fund fraud case

US securities regulators ordered two Citigroup affiliates Monday to pay $180 million to settle charges that they defrauded investors by falsely claiming a pair of hedge funds were low-risk.

Ex-UBS, Citigroup trader jailed for 14 years for rigging Libor rates

A trader who worked for UBS and Citigroup was jailed Monday for 14 years by a London court after becoming the first person to be found guilty by a jury of rigging the benchmark Libor inter-bank lending rate.

Ex-UBS, Citigroup trader convicted in UK of Libor rigging

A trader who worked for UBS and Citigroup on Monday became the first person to be convicted by a jury in Britain of rigging the benchmark Libor inter-bank lending rate.

Citigroup shuts Banamex USA, pays $140 mn in fines

Citigroup said Wednesday it will shut the US branch of its Mexican subsidiary Banamex and pay $140 million in fines for inadequate programs to combat money laundering.

Further rate cut of 25 bps likely this fiscal: Citigroup

Further rate cut of 25 bps likely this fiscal: Citigroup

The Reserve Bank is likely to cut the key interest rate by another 25 bps this fiscal as retail inflation is likely to be around 5 percent, says a Citigroup report.

Banks did not do enough to police FIFA transactions, says global agency

Banks did not do enough to police FIFA transactions, says global agency

A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer’s global governing body FIFA, and cautioned banks to step up scrutiny.

Citigroup pegs India's GDP growth at 7.9% this fiscal

According to the global financial services major, investment and consumption uptick is likely to result in a growth pick-up from 7.3 percent in 2014-15.

Citigroup to close Banamex USA: Report

Based in Century City, California, Banamex USA specializes in moving money across the US border into Mexico. The bank is undergoing probes related to its anti-money laundering controls, people familiar with the matter told the Journal.

RBI likely to cut policy rates by 0.25% on June 2: Citi

The Reserve Bank is likely to cut policy rates by 0.25 percent in its upcoming policy review meet next week, a Citigroup report said on Wednesday.

Citigroup cuts long-term iron ore forecast to $55 as demand shrinks

Global demand for the steelmaking commodity is likely to decline by more than 60 million tonnes between 2018 and 2025, said Citigroup, 

Citigroup trims Sensex target; says investor faith turning fickle

The 30-share BSE index has gained just 338 points so far this year and is hovering around 27,800 points.

Major banks admit guilt in forex probe, fined $6 bn

Four major banks pleaded guilty on Wednesday to trying to manipulate foreign exchange rates and six banks were fined a total of nearly $6 billion in a settlement that substantially ends a global probe into misconduct in the $5-trillion-a-day market.

UBS to pay $545 mn over forex scandal, rivals await fate

UBS will pay $545 million to US authorities to end an investigation into alleged manipulation of currency rates, a settlement that will help the Swiss bank to move on after a series of trading scandals.

Forex rigging settlements now seen next week

Five major banks are expected to settle with US and British authorities next week for their role in rigging the foreign exchange market, a source told AFP Tuesday.