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Citigroup Inc

New York sues Citibank for alleged failure to reimburse fraud victims

A Citibank branch in the central business district of Singapore on Feb. 12, 2018.Ore Huiying | Bloomberg | Getty ImagesNew York Attorney General Letitia James on Tuesday sued Citibank for allegedly failing to protect and reimburse victims of electronic fraud.The suit claims that Citi does not have strong protections in place to prevent unauthorized account takeovers, misleads victims of fraud and illegally denies reimbursements, according to a release. The attorney general's office said the alleged failure on Citi's part…

Goldman Sachs (GS) earnings 4Q 2023

Goldman Sachs on Tuesday posted fourth-quarter results that topped analysts' expectations on better-than-expected asset and wealth management revenue.Here's what the company reported versus what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, expected:Earnings: $5.48 per share; it wasn't immediately clear if that was comparable to the $3.51 estimate of analysts surveyed by LSEG.Revenue: $11.32 billion vs. $10.8 billion expected, according to LSEGGoldman said earnings for the quarter jumped 51% to $2.01…

Citigroup cutting 10% of workforce in CEO Fraser’s overhaul

CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC.Alex Wong | Getty ImagesCitigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank's results and stock price.About 20,000 employees will be let go over the "medium term," New York-based Citigroup said Friday in a slideshow tied to fourth-quarter earnings. While it wasn't immediately clear how long…

Citigroup (C) earnings 4Q 2023

Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty ImagesCitigroup reported fourth-quarter earnings before the opening bell Friday.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, were expecting:Earnings: adjusted 84 cents a share, may not compare…

JPMorgan Chase (JPM) earnings Q4 2023

Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesJPMorgan Chase reported fourth-quarter earnings before the opening bell Friday.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, were expecting:Earnings per share: $3.04, may not compare with expected $3.32…

Citigroup at risk of quarterly loss after disclosing charges

Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023.Mike Blake | ReutersCitigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank's reorganization came in far higher than disclosed by the company's CFO just weeks ago.The bank said its fourth-quarter results, scheduled to be released Friday morning, were impacted by $880 million in currency conversion losses from the peso and $780 million in…

Don’t read too much into market losses so far

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 3, 2024, in New York City. Angela Weiss | AFP | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayLabor market remains tightU.S. private sector jobs increased by 164,000 in December, according to payroll…

Affirm’s stock quintupled this year, beating all tech peers

Drew Angerer / Getty Images A year ago, there was little holiday cheer at Affirm. The point-of-sale lender was confronting rising interest rates, recession fears and weakening consumer spending. Affirm shares ended 2022 down 90%, wiping out billions of dollars in market value.Affirm investors are wrapping up 2023 in a much different mood.The stock skyrocketed 430% in 2023, as of Wednesday's close, outperforming all other U.S. tech companies valued at $5 billion or more. The next-best performer was Coinbase, which shot up…

Citigroup to close global distressed-debt unit

A trader works underneath a monitor displaying Citigroup Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on June 3, 2016.Michael Nagle | Bloomberg | Getty ImagesCitigroup is shuttering another Wall Street business as CEO Jane Fraser pushes ahead with her overhaul of the bank, CNBC has learned.The company decided to close its global distressed-debt group, according to people with direct knowledge of the move.Citigroup is exiting businesses with poor returns to bolster the bank's odds of…

Citigroup employees told they can work remotely until new year

Jane Fraser, CEO of Citigroup, testifies during a Senate Banking Committee hearing at the Hart Senate Office Building on December 06, 2023 in Washington, DC. Win Mcnamee | Getty ImagesCitigroup told most of its employees that they can work remotely the final two weeks of December, CNBC has learned.Workers can log in remotely from anywhere in their country of employment from Monday to Dec. 29, a Friday, making this week the last in-person experience this year for many staffers, according to people with knowledge of the…