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Aktuelle Finaz Nachrichten

2 hours ago

Bank of America Targeting $17 Billion in Shareholder Payouts

Bank of America paid a dividend of $0.075 in 2Q17, which was in line with the previous three quarters.
2 hours ago

Citi is going after one Ivy League school to win rare talent

This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and...
2 hours ago

Citigroup CEO Michael Corbat says 'trade is not dead' under Trump

"Trade is not dead. Trade is secular, not cyclical," Citi's Corbat says.
4 hours ago

[$$] Citigroup boosts targets as it heralds recovery from financial crisis

Ten years ago this month, at the onset of the financial crisis, Citigroup's then-chief Chuck Prince declared that the bank was "still dancing" when it came to lending, despite fears of a growing ...
7 hours ago

Citigroup sets new focus on growth at first investor day since crisis

Citigroup Inc (C.N) management outlined an ambitious plan on Tuesday to grow profits and return at least $60 billion to shareholders, setting a new tone at the first major conference the bank has held for investors in over nine years. Executives detailed ways they intend to generate more revenue, cut unnecessary costs, use capital more wisely and get back to building businesses after a long period of divestitures. "We haven't yet delivered the level of returns that you, our investors, both expect and deserve," Chief Executive Officer Michael Corbat said at the start of the event.
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Citigroup

7 hours ago

Citi said the same word more than 20 times in the same presentation — and it's the key to the bank's strategy

Citigroup repeatedly stressed the power of its global network during its first investor day...
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Citigroup

7 hours ago

[$$] Citigroup Sets High Bar for Itself

Citigroup shares have been on a tear. Did executives get too giddy on their future prospects?
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Citigroup

18 hours ago

[$$] Citigroup Aims High With Profit, Capital-Return Targets

Citigroup led bank stocks higher Tuesday after telling investors it is aiming for $60 billion or more in capital returns to shareholders through 2020 and that it hopes in coming years to earn $20 billion ...
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Citigroup

19 hours ago

Citigroup hosts investors for first time since the financial crisis

For the first time since receiving three government bailouts during the 2007-2009 financial crisis, Citigroup Inc on Tuesday is holding a day-long conference for investors, marking another step in the recovery of what was once the biggest U.S. bank. The meeting in New York, for about 250 invited stock analysts and investors, plus anyone who wants to listen over the internet, comes four weeks after the Federal Reserve said it would allow Citigroup to begin to trim back the extra capital it has built up since the crisis. "Citi's restructuring is over and, given our latest capital plan and improving business performance, this is the right time to talk about our path to growth and higher returns," Ed Skyler, who oversees Citigroup communications and government affairs, said on Monday.
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Citigroup

20 hours ago

[$$] Citigroup Sets High Bar for Itself

Citigroup shares have been on a tear. Did executives get too giddy on their future prospects?
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Citigroup

21 hours ago

9mobile asks Citi, Standard Bank to find new investors - source

LAGOS, July 25 (Reuters) - 9mobile, the mobile operator formerly known as Etisalat Nigeria, has appointed Citigroup and Standard Bank to find an investor to buy into the firm and three companies have shown interest, a banking source close to the deal said on Tuesday. India's Bharti Airtel, which already has a presence in Nigeria, as well as Britain's Vodafone and French telecom company Orange have shown interest, the source told Reuters.
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Vodafone
Citigroup

21 hours ago

Citi's Path to $100 a Share Won't Be Easy

It's possible, but a lot of things have to go right for it to meet profit goals.
21 hours ago

Banks Still Playable And Un-Pricey

Let's go to the financial sector, banks, if only to see how they've grown into such huge hungry beasts. While manufacturing sector growth peaked out late fifties along with employee compensation, Wall Street began to stir. Trading floors blossomed into football field sized profit centers.
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Wall Street

23 hours ago

[$$] Citigroup's First Investor Day Since 2008 Impresses

Citigroup’s first investor day in more than nine years was worth the wait. Citigroup (C) shares are up $1.87, or about 3%, to $67.97, besting the financial sector, which has gained a little over 1%. In one slide of its presentation, Citigroup suggested that its stock price could hit $100 in 2020 based on its financial projections.
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Citigroup

1 day ago

Citi CEO: No 'Outsized Risks' to Reach $20 Billion Profit Target

Michael Corbat aims to keep dividends and buybacks at $19 billion or more, too.
1 day ago

[$$] Citi sets out $60bn capital return plan 

Citigroup has signalled it will hand over more than $60bn to shareholders over the next three years as the US bank tries to move on from a protracted period of post-crisis restructuring.Speaking at Citi's ...
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Citigroup

1 day ago

Citigroup hosts investors for first time since the financial crisis

For the first time since receiving three government bailouts during the 2007-2009 financial crisis, Citigroup Inc on Tuesday is holding a day-long conference for investors, marking another step in the recovery of what was once the biggest U.S. bank. The meeting in New York, for about 250 invited stock analysts and investors, plus anyone who wants to listen over the internet, comes four weeks after the Federal Reserve said it would allow Citigroup to begin to trim back the extra capital it has built up since the crisis. "Citi's restructuring is over and, given our latest capital plan and improving business performance, this is the right time to talk about our path to growth and higher returns," Ed Skyler, who oversees Citigroup communications and government affairs, said on Monday.
mehr zu:
Citigroup

1 day ago

Citigroup shares pop 3% as bank kicks off first investor day since financial crisis

Citi shares rose 3 percent in opening trade Tuesday as the financial firm began its first investor day since May 2008, just before the financial crisis.
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Citigroup

1 day ago

Citigroup CEO: We Just Haven't Delivered For You, the Investor

Inside Citi's big investor day.
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Citigroup

1 day ago

Citigroup sets higher profit targets at first investor day since crisis

Citigroup Inc (C.N) issued loftier projections for its long-term profitability on Tuesday at its first day-long conference for investors since the 2007-2009 financial crisis. The fourth-largest U.S. bank said it expects to generate 11 cents in profit for every dollar of tangible common equity shareholders have provided by 2020, and 14 cents per dollar over the longer term. About half of the forecast is based on Citigroup's expectation that it will be able to buy back more stock.
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Citigroup

1 day ago

Citi Targets 34% Profit Growth as Corbat Crosses 'Inflection Point'

Citi is now delivering 'levels of growth we couldn't have supported in the years immediately following the crisis,' CEO Michael Corbat says.
1 day ago

Citigroup shares pop 3% as bank kicks off first investor day since financial crisis

Citi shares rose 3 percent in opening trade Tuesday as the financial firm began its first investor day since May 2008, just before the financial crisis.
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Citigroup

1 day ago

Citigroup Hosting Investors for First Time Since Financial Crisis

It's the latest step in recovery for the fourth-largest U.S. bank now that 'restructuring is over.'
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Citigroup

1 day ago

Citi Appointed Successor Depositary Bank for easyJet’s ADR Programme

Citi, acting through Citibank N.A., has been appointed by easyJet plc , as successor depositary bank for its Level 1 American Depositary Receipt programme, which has been approved for trading on OTCQX under the symbol “ESYJY”.
1 day ago

Citigroup hosts investors for first time since the financial crisis

For the first time since receiving three government bailouts during the 2007-2009 financial crisis, Citigroup Inc (C.N) on Tuesday is holding a day-long conference for investors, marking another step in the recovery of what was once the biggest U.S. bank. The meeting in New York, for about 250 invited stock analysts and investors, plus anyone who wants to listen over the internet, comes four weeks after the Federal Reserve said it would allow Citigroup to begin to trim back the extra capital it has built up since the crisis. "Citi's restructuring is over and, given our latest capital plan and improving business performance, this is the right time to talk about our path to growth and higher returns," Ed Skyler, who oversees Citigroup communications and government affairs, said on Monday.
mehr zu:
Citigroup

1 day ago

Citi collaborates with Cornell for Roosevelt Island campus

Student labs and college programs are responsible for some of the most groundbreaking innovation, especially when it comes to technology. Cornell students, for example, have unique areas of expertise — blockchain, machine learning, cyber security and big data. Citigroup Inc. (NYSE: C) has signed a 10,900 square-foot lease at the Cornell Tech Campus on Roosevelt Island.
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Citigroup

1 day ago

Citi 2017 Investor Day – Presentation Materials

The presentation materials and webcast link for Citi’s 2017 Investor Day will be available at approximately 7:00 a.m. on Tuesday, July 25 at www.citi.com/investorday.
1 day ago

MOVES-Citi names UBS exec as head of EMEA diversified industrials

Citigroup Inc named Heiko Horn as the head of diversified industrials within the industrials group for Europe, Middle East and Africa and as the head of investment banking for Switzerland, an internal ...
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Citigroup
UBS

2 days ago

MOVES-Citi names UBS exec as head of EMEA diversified industrials

Citigroup Inc named Heiko Horn as the head of diversified industrials within the industrials group for Europe, Middle East and Africa (EMEA) and as the head of investment banking for Switzerland, an internal memo showed. Horn previously served as managing director and head of EMEA Capital Goods at UBS. Horn will join Citi in November and will be based in Zurich.
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Citigroup
UBS

2 days ago

[$$] Citi points to credit cards and Mexico on path to higher returns

Executives at Citigroup are expected to hang an attempt to improve industry-trailing returns in part on the US bank's credit card and Mexico operations at its first investor day in nine years. Michael ...
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Citigroup

2 days ago

Citi Announces Collaboration with Cornell Tech

Citigroup Inc. today announced a collaboration with Cornell Tech, the revolutionary graduate institution, to engage with Cornell University students, faculty, researchers, startups and other companies, and create closer ties between academia and industry.
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Citigroup

4 days ago

Understanding WFC’s Expectations for 3Q17

Commercial banks’ 3Q17 numbers are expected to be weaker on lower trading activity, less room for margin expansion, and fewer growth areas in the economy.
4 days ago

Citigroup's Tague Sees Rising Levels of M&A Activity

Jul.21 -- Peter Tague, global head of M&A at Citigroup, talks about the current level of M&A activity and how it is impacted by geopolitical developments. He speaks on "Bloomberg Daybreak: Americas."
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Citigroup

4 days ago

Citigroup Sees Long Lag Between ECB Taper and Hike

Jul.21 -- Guillaume Menuet, European economist at Citigroup, examines the reaction of the euro to comments from European Central Bank President Mario Draghi. He speaks with Bloomberg's Nejra Cehic on "Bloomberg Markets: European Close."
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Citigroup

4 days ago

Chinese courier ZTO sued for 'untrue statements' in $1.4 bln U.S. IPO

Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a U.S. pension fund that alleges the firm exaggerated its profit margins to lure investors into its $1.4 billion initial public offering. Morgan Stanley and Goldman Sachs Group Inc, which spearheaded ZTO's IPO, are named in the class-action suit filed in Alabama state court by the city of Birmingham's pension fund which says that they failed to do adequate due diligence.
4 days ago

Citigroup: Staying Strong?

Citigroup (C) has gained 50% during the past 12 months but can it keep the rally going? For now, Citigroup has benefited from its big capital-return plans and cheap valuation, but Credit Suisse analyst Susan Roth Katzke and team contend that it will need to lay out a "credible plan" to getting to a 10% return on tangible common equity. Katzke explains what Citigroup needs to do to get to 10%: Closing the Gap to a 10%+ ROTCE… this relies on accelerating revenue growth and improved efficiency.
4 days ago

Weak mortgage income hurts U.S. regional lenders

Weak refinancing, thanks to higher interest rates, took a bite out off regional banks' earnings in the second quarter and loan growth remained sluggish, mirroring trends seen at larger banks. Mortgage banking income fell by double digits on a percentage basis at most regional banks that have reported results so far. BB&T Corp posted a 15 percent fall in mortgage banking income, while U.S. Bancorp, the largest regional bank, said revenue from mortgage banking fell 11 percent.
5 days ago

Chinese courier ZTO sued for "untrue statements" in $1.4 bln U.S. IPO

Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a U.S. pension fund that alleges the firm exaggerated its profit margins to lure investors into its $1.4 billion initial public offering. Morgan Stanley and Goldman Sachs Group Inc, which spearheaded ZTO's IPO, are named in the class-action suit filed in Alabama state court by the city of Birmingham's pension fund which says that they failed to do adequate due diligence.
5 days ago

Citigroup sees slightly lower returns from branded cards business

Citigroup Inc trimmed its outlook on Friday for the profitability of its North American branded credit cards business to a 2.15 percent return on assets from 2.25 percent. Chief Financial Officer John Gerspach, speaking in a quarterly conference call with fixed income investors, said the revision is a result of changing interest rates and a greater portion of the business coming from its new Costco co-branded card. The Costco card, he said, is outperforming expectations and will bring in more revenue and income but with a lower return on assets.
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Citigroup

5 days ago

Financials Could Be Getting Ready To Move Higher

The financial sector appears poised for a breakout. Here's why.