Citigroup hits a milestone in China
Citigroup CEO Vikram Pandit has, in some ways, hitched his bank to the overseas markets. While big consumer banks were ailing domestically, he preached the value of globalization. His mantra was that...
Barbara Desoer to step down at Bank of America
The perpetual crisis at Bank of America has claimed another big-name executive. Barbara Desoer was once an executive on the rise, mentioned every now and then as a candidate to lead the bank some...
Reasons for a lack of lending growth
One constant over the last few years of economic malaise has been a marked slowdown in the pace of lending. This has vexed lawmakers and regulators, who see expansion of credit as a key conduit by...
Citigroup revenue a major concern
Citigroup missed earnings projections for the fourth quarter, reporting profits of $1.16 billion, or $0.38 cents a share, compared with the average analyst recommendation of 50 cents a share....
Interesting transition underway at JPMorgan Chase
In the fourth quarter, investment bank revenues at JPMorgan Chase fell 30 percent to $4.36 billion. Meanwhile, the card services and auto loans units saw revenue decline 5 percent to $4.8 billion....
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