Citigroup (C) reported earnings well below analysts expectations for the fourth-quarter sending shares lower in early trading. The jumbo-sized super bank saw trading revenues rebound but took a $2.32 billion charge for legal fees and lay-offs. New CEO Michael Corbat said the company continues to be hampered by regulatory matters […]
Tag: Citigroup
7 Banks Subpoenaed in Libor Investigation
Seven banks have received subpoenas as part of an investigation into the alleged manipulation of the London Interbank Offered Rate, according to a source close to the case and company filings. The banks that were subpoenaed by New York State Attorney Eric Schneiderman include JPMorgan, Citigroup, Barclays and UBS. In […]
Exclusive: Banks in Libor probe consider group settlement-sources
A group of banks being investigated in an interest-rate rigging scandal are looking to pursue a group settlement with regulators rather than face a Barclays-style backlash by going it alone, people familiar with the banks’ thinking said. Such discussions are preliminary, and it is unclear if regulators will enter these […]
