Big U.S. banks, including JPMorgan Chase & Co (JPM.N) and Citigroup Inc (C.N), are expected to win Federal Reserve backing on Wednesday to buy back more shares and increase their dividends in the coming year, but the approvals may be as much about the institutions’ financial engineering as any improvement in their health.
Tags: Citigroup
Citigroup selling retail online FX trading platform to FXCM, Saxo Bank
Citigroup said on Friday it is selling its margin foreign exchange business, including the CitiFX Pro and TradeStream platforms to U.S.-based FXCM and Danish investment bank SAXO Bank.
Late to the party, global banks try to muscle into India's start-up boom
Global investment banks are scrambling to get a piece of the action from India's booming technology start-ups, having missed out on the initial flurry of deal-making to their better-connected but much smaller domestic rivals.
Goldman sees $1 trillion lift in 2015 via U.S. stock buybacks, dividends
Investors will rake in more than $1 trillion in 2015 as U.S. companies increase stock buybacks and boost dividends, Goldman Sachs Group Inc said, with benefits coming soon as many S&P 500 companies exit a blackout period for repurchases next week.
Indian airline IndiGo heads for up to $400 million IPO amid travel boom: sources
India's biggest airline by market share, IndiGo, is preparing to file a draft prospectus by May for a stock listing to raise $300 million to $400 million, two people with knowledge of the plans said, aiming to cash in on a boom in budget air travel.
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The largest U.S. banks and their foreign rivals are facing a tough two-step check-up of their financial health by the Federal Reserve, forcing the firms to get a far better grip on how they measure risk.
Citigroup Inc had at least one advantage in its successful bid for the exclusive right to issue credit cards for Costco Wholesale Corp, rivals and tax specialists say: it lost so much money during the financial crisis that it has billions of dollars of tax credits.
Warehouse club Costco Wholesale Corp (COST.O) has chosen Citigroup Inc (C.N) and Visa Inc (V.N) to run its co-branded credit card starting next year, replacing American Express Co (AXP.N), which lost the coveted tie-up last month.
Big U.S. banks say that a proposed Federal Reserve rule on higher capital requirements would penalize them if the dollar remains strong against the euro, as it would make their dollar-denominated assets and operations look larger relative to their European peers, the Wall Street Journal reported.
Mashreq, Dubai's third-biggest lender by assets, is interested in acquiring Citigroup's Egyptian retail business, Mashreq's chief executive said on Sunday.
Citigroup has received 10 bids for its consumer banking business in Egypt, three sources with knowledge of the matter said on Tuesday, with banks from the United Arab Emirates prominent among potential purchasers.
Investors had hoped that the biggest U.S. banks would boost dividend payments substantially in 2015, but recent events including slumping oil prices will make it harder for banks to pay out more.
Sumitomo Mitsui Banking Corp (SMBC) will buy Citigroup Inc's (C.N) Japanese retail banking operations in October for about 40 billion yen ($330 million), people with knowledge of the matter said on Wednesday.
Five years after President Barack Obama slammed Wall Street "fat cat" bankers, some of the nation's biggest banks this week successfully lobbied Congress to roll back a hotly debated provision in the 2010 Dodd-Frank financial reform law.
