Citigroup

Even before Trafigura Group said phony nickel shipments could cost it up to $577 million, some people and businesses had decided to steer clear of both Prateek Gupta—the businessman Trafigura says is responsible for the alleged misconduct—and a Swiss firm Mr. Gupta had acquired.Commodity-trading giant Trafigura has accused Mr. Gupta and related companies of committing “systematic fraud.” It says it agreed to buy nickel—a hot commodity, due to the electric-vehicle boom—but instead received other, cheaper cargoes. The Wall…

Gautam Adani, who saw $100 billion rout in shares of his listed firms, says his conglomerate has "impeccable track record" of fulfilling debt obligations. Meanwhile, Citigroup stops accepting securities of his firms as collateral for margin loans. School-dropout-turned-billionaire has lost his title of Asia's…

Activist investor Ryan Cohen has built a stake in Alibaba Group Holding Ltd. BABA 3.41% worth hundreds of millions of dollars and is privately pushing the Chinese e-commerce giant to accelerate and further boost its share-repurchase program, according to people familiar with the matter.  While the stake is small in comparison to Alibaba’s market capitalization of nearly $300 billion, Mr. Cohen has a wide following among individual investors…

John J. Ray III, CEO of FTX Group, testifies during the House Financial Services Committee hearing titled Investigating the Collapse of FTX Part I, on December 13, 2022 Photo: Nathan Howard (Getty Images) The House Financial Services Committee began one of its most dramatic hearings in recent memory Tuesday, while its main subject, disgraced crypto exchange founder Sam Bankman-Fried, sat behind bars in a cell nearly 1,000 miles away.Instead, lawmakers questioned court-appointed FTX CEO John Ray III who said he had never…

Would you apply for a job with an advertised salary cap of $2 million dollars? What about a job with a potential base pay of $0.00? What if I told you that, apparently, they’re the same job.That’s right, Citi bank is hiring a New York, New York-based “client service officer” and for at least a few hours on Tuesday, the role was advertised as either entirely unpaid or as coming with enough compensation to instantly catapult oneself into the mythic one percent. Based on the listing, it was impossible to know. The listing…

Some major employers have already begun displaying salary data ahead of the November 1 deadline.Image: Gorodenkoff (Shutterstock)Slowly but surely, the way we view labor is changing across the world. From the world’s largest four-day work week experiment to the growing number of unionization attempts occurring at major corporations, our world’s workforce is demanding to be seen and heard. On November 1, a new law will finally go into effect in New York City that requires employers to post salary information on job…

The global economy is once again under strain, but this time without the international cooperation that helped resolve previous post-Cold War crises. Instead, many of the world’s biggest powers are now intent on undermining one another, with unsettling economic implications.“There is a level of weaponizing the economy that we have not seen for, perhaps, decades,” said Adam Posen, president of the Peterson Institute for International Economics. “You’ve got G-20 economies actively trying to…

Photo: Michael M. Santiago (Getty Images)The Securities and Exchange Commission delivered the lightest of slaps on the wrist to 16 Wall Street financial firms on Tuesday after “widespread and longstanding failures” to preserve employee communications like texts and WhatsApp messages—a clear violation of recordkeeping provisions in the Securities Exchange Act of 1934.The SEC alleges that from January 2018 through September 2021 employees at America’s largest financial firms were routinely using private phones and messaging…

WASHINGTON—The heads of the largest U.S. banks expressed concerns about the state of the U.S. economy as they began two days of questioning Wednesday from Congress.Bank chief executives, including JPMorgan JPM -2.36% Chase & Co.’s Jamie Dimon and Citigroup Inc.’s C -1.53% Jane Fraser offered a favorable picture of an industry they say helped the economy recover from…

Hedge funds shouldn’t be able to keep roughly $500 million they were mistakenly paid by Citigroup Inc. on a loan owed by now-bankrupt cosmetics company Revlon Inc., a federal appeals court ruled Thursday. The U.S. Second Circuit Court of Appeals said a lower court erred in allowing Revlon lenders including Brigade Capital Management, Symphony Asset Management LLC and HPS Investment Partners LLC to retain the “huge windfall” they collected from the bank’s back-office blunder. Hedge…