Hints and tips:
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music....
...“This support will be hard to reduce without a reform that puts the company in a sustainable financial trajectory,” analysts at Citi wrote in a recent note....
...Additional help by Sam Giovinco, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer....
...Here’s what else I’m keeping tabs on today: Earnings: The major US banks begin reporting earnings today, with JPMorgan, Citi and Wells Fargo all updating investors....
...Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer....
...President Andrés Manuel López Obrador has done little to foment competition in the private sector and even said he wanted to abolish the independent telecommunications regulator, which he sees as a neoliberal...
...In February, the Financial Times reported that Citi was in exclusive talks to sell Banamex to Grupo México, which is owned by billionaire Germán Larrea....
...The quality of democracy enjoyed by an average global citizen in 2022 is back to the levels of 1986, according to the V-Dem Institute, which assesses democracies’ health on five principles: electoral, liberal...
...Days after the announcement that Citi was exploring a sale, López Obrador made clear he preferred a Mexican buyer for the nearly 140-year-old bank....
...As ever, drop me a note at sid.v@ft.com if you’ve got thoughts and ideas for upcoming Future of Money newsletters....
...No further details of the investigation were provided and the company declined to comment to the Financial Times, citing the ongoing investigation....
...”, Citi’s digital payments service, treasury and trade solutions....
...Citi’s decision to sell its Mexican consumer banking business could tilt the sector dominated by global financial giants to more local control as it becomes a test case for the government’s nationalist leanings...
...Both Citi’s Mr Mason and Commerzbank’s chief financial officer Bettina Orlopp stressed that their banks had already made substantial provisions to deal with potential loan losses....
...President Andrés Manuel López Obrador has refused to allow big additional spending....
...in the decade following the last global financial crisis....
...Vladimir Putin said he would be vaccinated with the Sputnik V jab on Tuesday....
...Welcome to Due Diligence, your briefing on dealmaking, private equity and corporate finance from the Financial Times. Want to receive DD in your inbox? Sign up here....
...“Markets are pricing a V [shaped recovery], everyone’s coming back to work, and this is going to be fine,” Mr Falco said. “I don’t think it’s going to be that easy quite frankly.”...
...It is the fifth quarterly contraction in a row, dampening hopes of a speedy, V-shaped recovery....
...“I am optimistic,” he told his daily news conference, saying a rollout of $1,000 government loans to help microbusinesses would ensure a “V-shaped effect [recovery]”, with only “a short economic fall and...
...I first had reason to ponder the delicious symbolism of this image as a forecasting tool 11 years ago, when a similar debate about a V-shaped trajectory was occurring after the 2008 financial crisis....
...“This is not going to be a V-shaped recovery, at best, this is going to be a U-shaped.”...
...Indeed, economists at Citi expect a gain of 5.5m jobs in June, well above the consensus forecast of 3.1m....
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