Citigroup Inc Chief Executive Vikram Pandit has resigned, effectively immediately, a shock change at the top of the bank just one day after surprisingly strong quarterly results. A statement on Tuesday from Chairman Michael O’Neill said Michael Corbat, previously chief executive for Europe, Middle East and Africa, would succeed Pandit […]
Tag: Europe
IMF warns global economic slowdown deepens, prods U.S., Europe
The IMF said the global economic slowdown is worsening as it cut its growth forecasts for the second time since April and warned U.S. and European policymakers that failure to fix their economic ills would prolong the slump. Global growth in advanced economies is too weak to bring down unemployment […]
Bank of England says took Geithner Libor views on board
The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate. Documents obtained by Reuters earlier on Friday showed that U.S. Treasury […]
