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...And the riskiest business to be in was subprime mortgage. So Citi ran right into it....
...In October, Citi sold its Chinese consumer wealth business to HSBC....
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...Tell us what we should be doing — or should not be doing — via lexfeedback@ft.com or helen.thomas@ft.com....
...At the end of last year, the US granted the Treasury new authority to penalise foreign lenders doing business with certain Russian sectors, even where there is no US connection to the transaction — so-called...
...News Corp’s history shows that it can be convinced to sell or spin off key assets, so long as there is money to be made by doing so....
...I would say the shares were up as much as 7 or 8 per cent at some point....
...It concerned a man named Szabolcs Fekete, who was a senior analyst at Citibank until he claimed two coffees and two sandwiches on expenses after taking his partner on a business trip to Amsterdam last year...
...We’ve seen that several times during the last 15 years when momentum returns to the China market,” says Roger Bacon at Citi Wealth in Hong Kong....
...But the likes of Citibank, Deutsche Bank, Goldman Sachs and HSBC are big names that have yet to announce they are doing so....
...and Mastercard have done.”...
...Yet €276,000 of electronic transfers later, Citibank also shut down Wen’s account. As the Totteridge Common deal progressed, Liffen pressed Wen for more information about the source of Zhang’s crypto....
...However, advisers warn that it could lead to a concentration of business among the largest LDI managers, as they each negotiate eligible collateral....
...How could you not at least appreciate a major leading indicator that is so prone to doing weird and wonderful things as soon as the going gets tough. Plus, its idiosyncratic problems are fun!...
...“There’s lots of logic to what she is doing, because we were just running too much cost in this business and we need to get to the right place.” Citigroup declined to comment....
...So, you know, I think in the next sort of three years or so, UBS will be trying to underpin that business and make it as efficient and as profitable as possible....
...That’s a pretty good business to be in. You can make a good living from doing that if you’re a bank....
...Citi, which also said it could lay off as many as 20,000 employees over the next three years, said the number of its consumers unable to pay back their loans was set to increase and would probably peak in...
...Monday EU: European Central Bank vice-president Luis de Guindos speaking at the Investment Outlook conference, organised by Citi Private Bank, in Madrid UK: Zoopla House Price index, plus ICAEW Business...
...Investments including Mastercard, Visa and healthcare company DaVita helped the two managers beat the S&P 500 in 2012 and 2013....
...“Strings attached” Saudi Arabia is borrowing tactics from Beijing’s playbook when doing business with Chinese companies: demanding tech transfer and investment in the kingdom in exchange for its petrodollars...
...“At the moment it’s clear the motive is to become as profitable as possible,” says Mayer, who has spent many years exploring the purpose of business....
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