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Citi, US $7 billion settlement announcement expected Monday

Citi, US $7 billion settlement announcement expected Monday

Last Updated: Monday, July 14, 2014, 05:50

Citigroup agreed to pay $7 billion to resolve a U.S. government investigation into shoddy mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis in a settlement set to be announced on Monday, sources said.

US Justice Department preparing to sue Citigroup

Last Updated: Saturday, June 14, 2014, 09:29

Spokesmen in New York for Citigroup didn't immediately return calls seeking comment on Friday.

GoDaddy files for IPO of up to $100 million

Last Updated: Tuesday, June 10, 2014, 09:20

Morgan Stanley, J.P. Morgan and Citigroup are the lead underwriters for the IPO, the company told the U.S Securities and Exchange Commission in a preliminary prospectus.

Nomura, Citi, Goldman raise Sensex targets after Modi win

Last Updated: Monday, May 19, 2014, 10:03

Nomura and Citigroup raise their targets for the BSE Sensex after the Bharatiya Janata Party led by Narendra Modi thundered to victory in general election.

India to see modest recovery in growth at 5.6%: Citigroup

Last Updated: Monday, May 05, 2014, 16:11

According to Citigroup, a poor monsoon could be a downside risk to the GDP estimate.

Citigroup profits up 3.5% on lower costs, improved credit

Last Updated: Monday, April 14, 2014, 18:47

Citigroup reported slightly higher quarterly earnings on Monday, as lower expenses and credit losses helped offset revenue declines in mortgage finance and trading.

Citigroup cuts 200-300 jobs: Report

Last Updated: Monday, April 14, 2014, 18:11

US bank Citigroup has cut between 200 and 300 additional jobs, most in the global markets business, The Wall Street Journal reported Sunday.

Global financial biggies catch India poll fever

Last Updated: Wednesday, April 09, 2014, 12:55

These firms also include Bank of America Merrill Lynch, Nomura, Barclays, UBS, CLSA, BNP Paribas, RBS, Deutsche Bank, Credit Suisse, Morgan Stanley and JP Morgan.

Citi agrees to pay $1.1 bn in mortgage settlement

Last Updated: Tuesday, April 08, 2014, 09:17

Citi said the agreement releases it from an obligation to repurchase mortgages sold into 68 mortgage trusts. The 68 trusts issued $59.4 billion in residential mortgage securities during 2005-2008.

Citigroup faces criminal probe for $400 mn fraud at Mexico unit: Source

Last Updated: Friday, April 04, 2014, 07:55

Federal authorities have opened a criminal investigation into a USD 400 million fraud involving Citigroup's Mexican unit, according to a person familiar with the matter.

Weak monsoon may lead to another yr of sub-5% growth for India

Last Updated: Monday, March 24, 2014, 20:47

India could face yet another year of sub 5 percent growth, if monsoon are below normal this year, a Citigroup report says.

US FDIC sues major banks over Libor manipulation

Last Updated: Saturday, March 15, 2014, 09:33

The regulator said the manipulation caused "substantial losses" to 38 US banks which were shut down due to insolvency during and after the 2008 financial crisis.