35 Burst results for "Citigroup"

Judge Lets Revlon Lenders Keep Citi's Botched $500 Million Payment

Lynda Lopez

00:20 sec | 2 weeks ago

Judge Lets Revlon Lenders Keep Citi's Botched $500 Million Payment

"In August, 2 Citigroup transferred half a billion dollars to Revlon lenders by mistake today, a federal judge in New York said. They don't have to give it back. The judge says they are entitled to the money because they had no way of knowing the payment was an error and to believe that Citibank would make such an enormous mistake, the judge says would have been borderline

Citigroup Revlon New York Citibank
Avon Rebrands Amid a Surge in Reps

Business Wars Daily

03:16 min | Last month

Avon Rebrands Amid a Surge in Reps

"Month brought big changes to a beloved brand avon. I made a name for itself by offering housewives away to earn independent income by selling skin-care perfume and cosmetics from home but the iconic american company is no longer an independent corporation or based in america the household name cosmetics company is now to companies owned by two different international corporations south korean consumer products giant elgin household and health healthcare which bought avon's north american business and brazil's largest cosmetic company nature cosmetic os which bought the majority of the company in a deal that closed this month. Lg is also a significant investor in the net. Sure deal. it's another end of an era story which has been a familiar. Refrain of late for nearly a century and a half. Avon's presence has been a constant in the beauty sector. Now you'll say lights from the beginning. Avon was a trendsetter decades. Before american women had the right to vote avon founder. David h mcconnell gave them a chance to earn an independent living. Mcconnell was a traveling book salesman who offered perfume to his customers. As a perk. The perfume was so popular that he soon created his own product line in the late eighteen hundreds. He recruited women. He met during his book selling days. As the first quote avon ladies in the century that followed the company became a direct selling amazon with more than six million home-based representatives at its peak. But the beauty behemoth suffered an ugly fall in more recent years value plummeted from its peak of twenty billion dollars. The company struggled to keep pace with changing consumer tastes one forbes. Report blames the company's decline on a failure to adapt to the changing role of women in the workplace. An ill conceived plan to crack the retail sector in stores like sears in jc penney after well known ceo andrea junks. Ouster in twenty eleven one citigroup analysts said quote. You guys are so totally screwed up in. So many ways that change has to be radical a report in fortune recount. The company also failed to anticipate new competition. Both from companies like amazon and from upstarts like rodin and fields. That's the skin care. Brand behind the wildly popular. Acne treatment proactiv rodin and fields was purchased by estee lauder three years later and converted into a direct selling company. The brand now grosses more than a billion dollars a year. Largely because tech savvy. Soccer moms sell the lotions and serums to their pows by a social media but avon may win the beauty competition and the end. Direct sailings appeal has faded in the us. But it's still a popular concept in many other countries and the new international focus means avon can better capitalize on hot markets like the uk where pandemic job losses led to a one hundred percent surge in new rep sign ups last year and of course avon will still be doing business in its country of origin. So if you need glimmer sticks or skin so soft well fear not. They're still just a socially distanced. Quarter away

Elgin Household And Health Hea Avon David H Mcconnell Jc Penney Andrea Junks LG Mcconnell Brazil Amazon United States Citigroup Sears Estee Lauder Soccer UK
Nio downgraded by Citigroup, Etsy performs well with stock up 12%

Yahoo Finance Market Minute

00:12 sec | Last month

Nio downgraded by Citigroup, Etsy performs well with stock up 12%

"Neo ended the session down about one percent. It was downgraded at citigroup and sc was one of the best performers today. Up more than twelve percent.

Citigroup
Companies pause donations to GOP lawmakers: "A ripple effect"

KYW 24 Hour News

00:56 sec | Last month

Companies pause donations to GOP lawmakers: "A ripple effect"

"After last week siege on the capital's some of the biggest corporations in the country or pulling back from lawmakers. So far, more than a dozen fortune 500 companies have suspended their political donations. CBS is Ed O'Keefe. Major firms like Goldman Sachs, Citigroup, Facebook, Google and Microsoft are going farther. Saying that would hold all political contributions from members of both parties, chemical giant Dow doing self or at least the next two years. It's sending a ripple effect across all these campaigns because Donald Trump is radioactive. Leslie Sanchez is a Republican consultant and CBS news political analyst and said the corporate giving Ban could hurt many GOP candidates. The question campaigns they're asking themselves is how long is this going to last? Can they separate their campaign from the larger Republican Party and the or that it has, experts say these pledges are mostly

Ed O'keefe CBS Leslie Sanchez Citigroup Goldman Sachs DOW Donald Trump Microsoft Facebook Google GOP Republican Party
Companies target lawmakers who tried to block Electoral College

Steve Scott

02:43 min | Last month

Companies target lawmakers who tried to block Electoral College

"Or joining a long list of corporations stopping political donations, especially two Republican lawmakers, who rejected President elect Joe Biden's victory in the Electoral College. We take a deep dive on that with CBS news political correspondent Ed O'Keefe. On Monday, Hallmark Cards Company asked for a refund from Republican senators Josh Holly and Roger Marshall, who received a combined $12,000. That company says that the senator's decision to vote to reject states certified electoral college results last week do not reflect our company's values. American Express told employees Monday. They're withholding donations from lawmakers who voted to subvert the presidential election results and disrupt the peaceful transition of power. Other major firms like Goldman Sachs, Citigroup, Facebook, Google and Microsoft are going farther, saying that would hold all political contributions from members of both parties. Chemical giant Dow doing self or at least the next two years. It's sending a ripple effect across all these campaigns because Donald Trump is radioactive. Leslie Sanchez is a Republican consultant and CBS news political analyst and said the corporate giving ban could hurt many GOP candidates. The question campaigns are asking themselves is how long is this going to last? Can they separate their campaign from the larger Republican Party and the or that it has, But since it is said that, based on her conversations with top government relations executives they giving ban is likely on Lee temporary, six months and nine months down the line. They expect those dollars to start flowing again. These are gonna be based on individual relationships and not necessarily the party as a whole. CBS News Political contributor. Robby Mook, a Democratic Party consultant, thinks this is a bigger shift. This is part of a larger reckoning we're seeing in our society, you know, employees of these companies really care about what their leadership is doing about what happens to this Pac money that they're donating, and we saw how this was transformational and sports. And entertainment, and I think we're going to start to see it in corporate America as it relates to politics as well. Corporate America is also facing pressure when it comes to hiring President Trump's current and former spokespeople. White House press secretaries often go on to get high profile jobs in the private sector. President Obama's landed at McDonald's Amazon and United Airlines. Forbes magazine editor Randall Lane argues that those that spoke for Mr Trump will face a different landscape. He says. If top companies hire them, his magazine quote will assume that everything your company or firm talks about is a lie. There is no way that we can look at the readers and say these are people we can trust in the private sector now to give that accurate information.

President Elect Joe Biden Ed O'keefe Hallmark Cards Company Josh Holly Roger Marshall Leslie Sanchez Electoral College Robby Mook CBS American Express Citigroup Goldman Sachs Donald Trump DOW GOP Republican Party Microsoft Facebook
Here Are the New York Companies Hitting Pause on Political Donations

Wayne Cabot

00:42 sec | Last month

Here Are the New York Companies Hitting Pause on Political Donations

"Companies have suspended political donations. Ah lobbying Group in Washington says We have never seen anything like this. New York companies that have now suspended contributions either to all members of Congress or just two Republican senators who voted against certifying the election. Include Verizon, American Express, MasterCard, BlackRock, Morgan Stanley, Citigroup, Visa and JP Morgan Chase. Now, the R and a golf governing body said. Body says it will boycott President Trump's golf course in Scotland to as the PGA is doing in Bedminster, New Jersey.

Jp Morgan Chase Washington Blackrock New York Congress American Express Verizon Morgan Stanley Mastercard Citigroup President Trump Visa Golf Scotland PGA Bedminster New Jersey
US businesses cut Republican party donations in wake of riot

Science Friday

00:29 sec | Last month

US businesses cut Republican party donations in wake of riot

"Some businesses a rethinking political contributions and wake the wake of the cat deadly capital siege by the pro trump rioters last week. Citigroup is pausing all federal political donations for three months, saying the company won't support candidates who don't respect the rule of law and the trade group representing Blue Cross Blue Shield Association. Says it, too, is suspending political contributions to lawmakers who voted last week to reject the electoral college results that showed Democrat Joe Biden won.

Citigroup Blue Cross Blue Shield Associa Joe Biden
Biden's pick to lead Treasury made over $7M in speaking fees

AP News Radio

01:03 min | 2 months ago

Biden's pick to lead Treasury made over $7M in speaking fees

"President elect Joe Biden's nominee for treasury secretary has earned more than seven million dollars in speaking fees from financial firms which could become an issue during confirmation hearings after Janet Yellen's term as fed chair expired in twenty eighteen the prospective nominee to head the U. S. treasury earned millions of dollars speaking at firms like Citigroup Goldman Sachs and Google lucrative speaking fees became an issue for Hillary Clinton when she ran for president in twenty sixteen but Democrats say Yellen has been transparent and they're confident her nomination will go forward financial disclosure forms also revealed secretary of state nominee Antony Blinken received more than a million dollars as a co founder of west exacted by users whose clients include bank of America and Facebook some ethics groups had warned that some of Biden's picks reflect the so called revolving door between public and private sector positions Jackie Quinn Washington

President Elect Joe Biden Janet Yellen U. S. Treasury Yellen Treasury Citigroup Antony Blinken Goldman Sachs FED Hillary Clinton Google Bank Of America Biden Facebook Jackie Quinn Washington
"citigroup" Discussed on Yahoo Finance

Yahoo Finance

01:38 min | 2 months ago

"citigroup" Discussed on Yahoo Finance

"Was fined four hundred million dollars earlier this month for lacking adequate risk controls and entered into a consent order with a Federal Reserve should investors be concerned about that. Well, I would say first, you know, we are disappointed that we fall short of our Regulators expectations and as we've said very publicly as an institution, we are fully committed to thoroughly addressing the issues identified in those consent words as part of that. There are four main areas of focus in there around risk management data governance controls and compliance and I think what important what ties these together is, you know, the the the need or desire to continue the modernization of our infrastructure our governance in our process dead. And we have had remediation programs in place. And while we've been making progress against those we're simply not where we need to be and and we acknowledge that and and I would say wow. This is is disappointing. We are committed to addressing the issues and you know continuing to kind of push forward in those areas that we've described. You know, we've already begun making structural changes celebrating our programs and Investments and you know as a firm, I think we're absolutely laser focused on automating processes ensuring accurate data can be assessed quickly and and we're I you know is reproducing management regulatory reports it again, nine months into the crisis, you know, those systems have served us well, but we can certainly make them better.

US Bank Federal Reserve US
Citigroup CEO Michael Corbat Addresses Bank's Risk Management Deficiencies

Influencers with Andy Serwer

01:38 min | 2 months ago

Citigroup CEO Michael Corbat Addresses Bank's Risk Management Deficiencies

"Was fined four hundred million dollars earlier this month for lacking adequate risk controls and entered into a consent order with a Federal Reserve should investors be concerned about that. Well, I would say first, you know, we are disappointed that we fall short of our Regulators expectations and as we've said very publicly as an institution, we are fully committed to thoroughly addressing the issues identified in those consent words as part of that. There are four main areas of focus in there around risk management data governance controls and compliance and I think what important what ties these together is, you know, the the the need or desire to continue the modernization of our infrastructure our governance in our process dead. And we have had remediation programs in place. And while we've been making progress against those we're simply not where we need to be and and we acknowledge that and and I would say wow. This is is disappointing. We are committed to addressing the issues and you know continuing to kind of push forward in those areas that we've described. You know, we've already begun making structural changes celebrating our programs and Investments and you know as a firm, I think we're absolutely laser focused on automating processes ensuring accurate data can be assessed quickly and and we're I you know is reproducing management regulatory reports it again, nine months into the crisis, you know, those systems have served us well, but we can certainly make them better.

Federal Reserve
Dow Jones Futures Surge As Pfizer/BioNTech Coronavirus Vaccine Effective

Morning Edition

03:45 min | 4 months ago

Dow Jones Futures Surge As Pfizer/BioNTech Coronavirus Vaccine Effective

"Stocks are hitting record highs this morning. This follows Pfizer's announcement that has had a big success with a Koven 19 vaccine. The Dow rose more than 1500 points right after the market opened, and the other major indexes are Oppa's. Well, We have NPR's Jim's really with us, Jim. Good morning. Good morning, did it So what do you see Ng and what's driving the market so high? Well, this is really good news for the economy. I mean, it's a potential sea change. You know, the as you know, the pandemic led to a global shutdown in the economy, with lots of businesses closing Lots of millions of people. Tens of millions people laid off really all over the world. The economy just ground to a halt, especially in a travel companies. Airlines cruise ships they were, they were just devastated. If this vaccine proves to be a successful as it appears right now, you know, maybe we will start to see a return to normal at some point, which is why we're seeing stocks just up across the board this morning. What kinds of starts in particular scenes seem to be benefiting. Well, we're seeing airline stocks really surging United was up 25% right after the market opened. Delta was up more than 20% companies like Carnival and Norwegian Cruise Lines, which you know nobody takes crew took cruises. You know, once the lockdowns took effect There they are up. Also, big banks tend to do better when the economy is in good shape. So you're seeing Goldman Sachs and Citigroup up and and also energy companies. Exxon, for instance, they benefit from an economy that's growing. There are much higher this morning. But really all almost all stocks are up across the board. Are there exceptions? Maybe there's some some stocks that might go down if it looks like a pandemic could at some point soon be coming to an end. Yeah, that And this is kind of funny. The ones that air down or not up his much our companies like Netflix and Pel Aton eBay. These are companies that have actually benefited from the locked down, so you know When there's a lock down. People watch a lot of Netflix because they can't go out. So you know they can't go to the gym, so they used Saletan. So if this vaccine is his promising as it looks, people are going to do that as much and so you're seeing. Netflix stock down pellet on eBay is down to I mean, the other thing. Obviously, we saw over the weekend, which was pretty significant news is the election called and Joe Biden gives a victory speech and we're now calling him president elect. It has that had a factor in what we're saying this morning as well. Yeah, I think so. The market really soared last week, and it was up later in the week when it became pretty clear that Biden was going to be the winner the Democrats didn't do as well as they hoped, and and and it looks like the Senate is going to remain in Republican control, depending on the outcome of those to run off elections in Georgia. Unless the den's Democrats convene those races, we're going to be headed for a period of divided government. You know, a Democratic White house in a Republican controlled Senate, and it's kind of conventional wisdom on Wall Street, the market has has usually done pretty well under divided government. And I guess the other big question. I mean, when we've talked about stocks and the markets we've we've talked about a stimulus bill and whether we might see one coming from Congress is do you feel like there's any clarity and we've seen the market's respond? Yeah, there's I think there's a broad consensus among economists that we need another stimulus bill. The economy was really weakened by the by the pandemic. As we said, You know, this vaccine news today is still preliminary, and it could be months before we know what the impact is going to be. So you know, way need. We need a stimulus bill and the hope is President Biden and Congress will be able to get one NPR's Jim's early, Jim. Thanks as always, you're welcome.

Norwegian Cruise Lines Netflix JIM Pel Aton Saletan Pfizer NPR NG Ebay Citigroup Exxon Goldman Sachs Carnival Delta Joe Biden Senate Biden 'S
How To Help Professionally Successful Women Survive a Divorce  With Allison Jeffereys

Top Advisor Marketing Podcast

05:01 min | 4 months ago

How To Help Professionally Successful Women Survive a Divorce With Allison Jeffereys

"Hello and welcome to another top advisor. Marketing podcast. Some of you have said to me on podcast, you know Matt. My Niche is focusing on women that's not an itch. It's fifty. One percent of the population is actually the majority of people on this planet. But today we're going to dive into how you could actually focus a lot more on women in an area that is very, very important and I believe is entirely underserved Alison. Jeffries is a divorce coach and author of a woman's guide to surviving divorce. A woman's guide to surviving divorce, she's also at the end when everybody hanging to the end because she's going to give away something that we'll have link in the show notes but and I was reading to prepare for this and if you know anybody who's been through a divorce if you've been through a divorce, it doesn't matter if you're a man or woman, you'll see yourself in these questions. She's really created this magnificent spreadsheet that will help you navigate conversations. But Allison. Let's let's start at the beginning. What do you do I mean how did you get here? Why are you? Why did you publish this book? Why did you want to become a divorce coach? Well I publish the book as a Personal Passion Project. We all go through life. Everybody has one book in them, but I think the important part of that story is, how did we get to the book? So I headed thirty five year career in the corporate world worked for Fortune One hundred companies Merrill Lynch prudential. Citigroup Wells Fargo worked in the financial sector worked in the securities area at Citigroup was. Managed a part of the country educating financial advisors on how to work with women in a group called Women Company. During that time it was in the middle of all the changes in the laws and regulations around financial advisers and tracking and documenting, and all of a sudden I had one month to take my seven and get it to continue to do my job. I did it. Couldn't believe it. But I, did it. They told me I had to take it I figured whether I failed or not. At least I'd taken it up pass. So I did have my seven had my sixty five. Loved the education of how women relate to money my degree is in psychology. So that was right up my alley really worked a lot on the difference in how women approached things how we make decisions, how we manage or don't manage our money those barriers between ourselves in money, the cultural issues, the professional issues, and all of those things that men had a hard time understanding about their women clients and why it was important to work with them. Left that career and honest to goodness. Being financial adviser with something I never wanted to do. So I. Let all that Go. I. Went Back into the corporate world in at a certain point in my life, I had a chance to stop. Rethink about what I wanted to be I. was on my second divorce. and. It was kind of one of those things where you common denominator here would be meat. So. I had to fix that become a big belieber marriage in I like men so. It was a it was self revelation process did a lot of writing. It became the book and it is a fictitious version of what a woman experiences when faced with divorce. Based on those common cultural and. thinking process. Things that are totally women. That we do. And so that's where I am. Okay. Why why should financial adviser scare? Why should insurance agents care? Why should financial adviser scare? Why is this such an important focus for people who have discussions surrounding money? Well. As you said, women are fifty one percent of the population. I don't know that math works for me the other reason it. Is More critical to financial adviser is back when I was it women company years ago we always cited that statistic that by twenty, fifteen, fifty percent of US wealth was gonNA transition into the hands of women. Well guess what it's happened. So whether women have come up with all this money through death divorce or old fashioned way we aren't it. We control a larger percentage of the investable assets in this country. But because of the cultural barriers because of the social morays that women have been raised with if we're anything over twenty five to thirty years old. We might not be managing them very effectively. And It just makes sense to me if you're a financial adviser to understand how to speak to women to get them engaged in Manning, they're managing their money.

Women Company Citigroup Advisor Merrill Lynch Matt Jeffries Alison United States Allison Wells Fargo Manning
Ray McGuire, Wall Street Executive, Enters New York City Mayor’s Race

Midday News

00:38 sec | 5 months ago

Ray McGuire, Wall Street Executive, Enters New York City Mayor’s Race

"And Bob. There's another name in the race for mayor next year In New York City, Ray Maguire is one of the highest ranking and longest serving black executives on Wall Street. You seeking the Democratic nomination? At the age of 63. He's giving up his post as vice chairman at Citigroup. He tells the times that quote

Ray Maguire Vice Chairman New York City Citigroup BOB
Pandemic's total cost to America: $16 trillion

Jay Talking

00:27 sec | 5 months ago

Pandemic's total cost to America: $16 trillion

"19 pandemic will end up costing the U. S $16 trillion.4 times the cost of the great recession economic shutdowns or half the total. The rest is health losses. The curtain rises tomorrow on third quarter earnings is JP Morgan Chase and Citigroup report. Pandemic related loan losses will be front and center. Analysts think the four biggest banks set aside another $10 billion in the third quarter.

Jp Morgan Chase Citigroup
Feds fine Citigroup $400 million over faulty risk management

BTV Simulcast

00:23 sec | 5 months ago

Feds fine Citigroup $400 million over faulty risk management

"Is to pay a $400 million fine of a deficiencies in risk management and controls. The regulator says City must now seek clearance before making any new acquisitions. Adding that more cards may be imposed. The bank failed to address its shortcomings. The Fed is also demanding city reveals how it's fixing risk management problems will hold senior executives account of all

FED
"citigroup" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:18 min | 5 months ago

"citigroup" Discussed on Bloomberg Radio New York

"Citigroup shares after ours down now by 5/10 of 1%, the office of the Comptroller of the Currency says Citigroup will pay off for $100 million fine over deficiencies tied to its risk management and internal controls. Stocks climbed to a more than one month high on renewed optimism that lawmakers could still reach an agreement on additional stimulus. Treasuries. Treasury yields climbed the dollar fell 10 year Yield 100.78% Now SNP up 58 Today Toe 34 19 again of 1.7%. The Dow rallied 530 points up 1.9% Now stack up 210 points up 1.9% Gold up 5/10 of 1% up 9 89 the ounce of 18 88 and West Texas Intermediate crew down 1.6% $40.2 a barrel I'm Charlie Pellet. It's a Bloomberg business Flash. All right, Charlie, Thank you so much. You are listening to Bloomberg. BusinessWeek. Well, we're excited. Check in with Scott Rosten. He is the founder and CEO of training the street. Cause we want to talk to him about a an acronym. I believe I'm using that crackhead son abbreviation. It's an acronym because we say it back. We talk about them all the time. Special purpose Acquisition Cos. Blank check companies. They are all the rage. I feel very left out that I don't have a spack. I keep, you know, proposing that you and I do respect together and you're not on board yet, Carol, But it will be you will be T shirts. So, Scott, Nice to have you with us. What's going on. Like what precipitated this craze. Well, I first saw this reminds me of like back then wait. 90 would've been talking about dotcom. Totally the flavor of the year. If you will. Look, I think there's personal that that questionable and is it that headed to a bubble kind of thing in a burst. There's a lot of excitement about it. And usually those don't end well, because if you have a lot of people chasing you with a herd mentality, a lot of people chasing and there's a finite number of targets out there. But there is a growing number of hunters and you know so and and then there's the hunted are the same number. But the hunters are increasing and there's going to be a lot more competition, which is going to be in the way that markets workers, you know, it's going to drive prices higher. But but not necessarily, because look, if you back up for a second, this is effectively a publicly traded play on private equity right, so investors get excited about that. It doesn't come with a big cost. The typical terms is that 20% ownership goes to the founders. That's why you wanted the sound excited Jason on DH, but you know there's there's a lot of competition for them, meaning that there's no As of now there's Nearly 150 stacks out there looking for targets on so they're looking for private companies. More usually started mode. That's not always the case. But, you know, look, you could have Aneka commanded us. Or you could have a draftkings on DH, you know, tracking his ears on, Nicholas? Not so it Khun B. It could be a little bit Tricky. And so, Scott, you know, one of the other things that it reminds me of, and I'm glad you said Private equity is the LBO boom of six and seven where you had a bunch of money chasing a lot of deals. A lot of big take privates. There seemed to be in an unlimited amount of institutional money available and a lot of big war chests out there. And so you ended up with some bidding wars and evaluations that were eye watering, eye popping whatever you want. Say about it. How does the sort of valuation question play through in this case in your estimation that that that that I think is a tricky one? That everything, he said, like I think those themes going to repeat from from from history right now we are doing to atleast you'll be part of those things again. And this is something that you know you talk about. For B. A turn street specialize in teaching the fundamentals of how to do the corporate valuation to primarily junior finance professionals. But when a Spack goes public You don't have any fundamental. It's just a blank cheque company and you're giving someone a bike check. So what are you betting down on you're looking at who are the founders? What's the track record of doing past deals? What did their abilities where their skills with their unique skill set that they're bringing those extremely valuable attributes, But they're intangible. Which makes them very hard, if not impossible, to value through traditional lens so there But but then fast forward to kind of phase one in the Hypo, then Phase two, which is the true really the value of this back when they find the target. And they then are going to merge with the operating company. Now you have evaluation talk it you can use now You can look at the public comparables. Now you can look it up. It's a multiple, You might get a look at their growth trajectories you might be able to if the probable have cash won't do with this kind of casual analysis. Those that have become relevant at the merger, But they're often start up companies Venture capital investing or again a reporter just a broader lines of private equity, which is harder to do. It's a lot about valuing on not even value. But what about speaking about market potential, and you're dressed market size and and looking at those things, as opposed to Get in and drilling down into what's even evaluation..

Scott Rosten Bloomberg Charlie Pellet Citigroup founder and CEO Treasury Aneka Comptroller of the Currency West Texas Intermediate BusinessWeek dotcom Carol Khun B. Jason Nicholas reporter
Zoom stock surges, market value tops Boeing, Starbucks

South Florida's First News with Jimmy Cefalo

00:30 sec | 6 months ago

Zoom stock surges, market value tops Boeing, Starbucks

"Become an essential tool for many businesses, schools and people during the Corona virus pandemic and its market value skyrockets. Its stock soared 40% yesterday it put its market value at $129 billion of company Citigroup and bowing in Starbucks. Came after Zoom reported huge growth during the second quarter quarter and AP zooms market value is higher than the combined value of General Motors. And Ford and more than doubled by of the nations for Airlines combined.

Citigroup Starbucks General Motors AP Ford
Bad debts top $100 billion at nation's biggest banks

Dennis Prager

00:18 sec | 8 months ago

Bad debts top $100 billion at nation's biggest banks

"Movement calling for racial justice. Potential cost of bad loans in the wake of the Corona virus for the nation's biggest banks, has reached 12 figures. The nation's five largest lenders, Bank of America, Citigroup, JPMorgan Chase, She was Bancorp in Wells Fargo said the financial stress Caused by the pandemic could cause Morrow's to default. This is town all that calm. A federal appeals court has temporarily halted a judge's order that the Dakota access pipeline the shutdown in three weeks. The Bismarck Tribune reports, the U. S Circuit Court of Appeals for the District of Columbia Circuit issued an administrative stay of the judge's order. The appeals court added, However, it quote should not be construed in any way is a ruling on the merits of the case. The state will remain in place until the appeals court rules on whether the developer energy transfer can keep oil flowing. While the court decides the Texas based companies appeal of the shutdown order correspondent Jeremy House City Council of Minneapolis approved a resolution Friday officially declaring racism a public health emergency. Resolution comes nearly two months after George Florida Black man died after White Minneapolis police officer dealt in his neck where Jacob Fry said quote systematic racism is among the greatest long term threats to our city. For these stories, a townhall dot com Patrick Falls

U. S Circuit Court Of Appeals Jeremy House City Council Of M Bismarck Tribune Jpmorgan Chase Wells Fargo White Minneapolis Jacob Fry District Of Columbia Circuit George Florida Black Patrick Falls Bank Of America Citigroup Morrow Dakota Developer Officer Texas
Goldman 2Q profit tops forecast on strong trading revenue

BTV Simulcast

01:51 min | 8 months ago

Goldman 2Q profit tops forecast on strong trading revenue

"Boom Goldman Sachs that with a surprising 93% surge in second quarter revenue from stock and bond trading that just blew away the estimates. Married. Similar wind force by J. P. Morgan and Citigroup. Let's get over to New York and join Suki and has been tracking these bank earnings in suit. Goldman's trading gains. What's it like to know? A $1,000,000,000 more than Alice expected? Give us the low down. Yeah, And that's because training revenue almost doubled and underwriting fees for Goldman jumped to a record. The firm's earnings results show that it clearly made the very most of the historic rebound in the second quarter. This after the Fed cord that trillions of dollars of stimulus into the market that'll look at that. The few of the numbers that stand out the firm's fixed income treating a zine mentioned more than doubled toe 4.24 billion. That is the highest in nine years, and the equity unit had its best showing. In 11 years. These kind of gains combined propel Goldman's revenue for the second highest mark ever for the firm on that income rose to a slight surprise increase from a year ago. So let's take a look a profit. It came to point for two billion or $6.26 share on as mentioned not also blew away. Analysts estimate of $3.95 share. Let's go look at a couple others stand that areas for Goldman, a large investment portfolio also would rebound. It had taken a massive mark down in the 1st 3/4 of the year, but not now on the firm's commodity unit has been on a hot streak. They did not give specific spot. It is clear that oil traders at Goldman Road that unprecedented rise from oil when it was below zero, all the way back up to 40

Goldman Boom Goldman Sachs Citigroup J. P. Morgan FED Suki Alice New York
JPMorgan Chase earnings top estimates

Michael Berry

00:31 sec | 8 months ago

JPMorgan Chase earnings top estimates

"As possible. Markets briefly started to recover this morning after JPMorgan Chase released its earnings report said profits fell but below what Wall Street expected. But that wasn't enough to stop. The trend that began after California began shutting down businesses just before yesterday's closing bell, Katie reach moneyman Patch in stocks are trading mixed Second quarter results are start rolling in today We've heard from a number of the big banks, JPMorgan as well, a Citigroup producing profits above analyst estimates. Meanwhile, Wells

Jpmorgan Chase Citigroup Analyst Wells Katie California
"citigroup" Discussed on FT Banking Weekly

FT Banking Weekly

04:05 min | 1 year ago

"citigroup" Discussed on FT Banking Weekly

"Here will only come. When a general economic upturn comes back onto the horizon not seems a couple of years away? Let's move on to our final topic and TSB where regular listeners will remember and customers Thomas will remember on it meltdown. That really felt the bank last year. It knocked out systems for thousands of customers. And it's it's only now really coming to terms with that. Being a very critical report just published an independent report from slaughter. May the law firm and Nick. It's pretty ugly reading. Yes so this report has been long awaited eighteen months in the works as this morning on particularly pleasant reading for Anyone in and around. TSP The bunk themselves tried to emphasize the biggest cause of this problem with some technical issues around some data centers and a lack of testing there. Mr Savage this is the Nova. TSP's Sabadell but throughout the wider report. There is a lot of broader issues that are raised with Howard. TSP's board on its executives handled the whole preparation for this service times that that we reviews by the audit committees internally failed to identify some of the problems that later proved so damaging when the data migration actually went ahead and also several occasions where they set needlessly tight timeframe so have picked the date that we wanted to things things ready by and then work backwards from that and trying to have a system ready in time for that which is not the best way of planning. Let's just remind listeners. This all happened because TSB TSP had been spinner of Lloyd's they had relied for several years on the old Lloyd. It system but they needed to move to a new system and they chose assistant assistance provided by their new owner Sabadell. But what they didn't need to do necessarily fully the timeframe that you've headlined. Yes that's right. So the initial argument serving was the Lloyd's at this point had become a competitive. ESPN so running on their systems Ltd.. How well they could compete with that how they could come up with new products etc there was also a slight financial incentive although they were allowed to keep using the system for a couple of years the amount that they have to pay Lloyd's fit was going to increase in two thousand seventeen so so there was a bit of pressure on them to get it done faster but there's no actual requirement for them to be done in time on Sabadell seemingly convinced. TSP also experience and integrating of small banks and said that it would be able to do all of this quickly and effectively in practice. The report found the Sabas. Which is the unit the Union Savonarola kind of its subsidiary? That deals with issues. It said that it was immaterial that he was just not ready consistently failed in the run-up with even the minor China upgrades on in the run-up to implement them effectively. Final Nick other any concrete consequences will come out of this report because it has been a frog a a lot of customer detriment lot of reputational damage. That's been a lot of briefing encounter briefing of recent days which you might imagine Suggest the relationship between Sabadell and TSB is not the greatest. Where does it go from here as you suggested? Probably hasn't done wonders for the relations between Cspan the owners. The tensions did flare up between them last summer. When this was all kicking off in the first place since they've been very keen to stress that actually things things a Hunky Dory again? That probably won't be any immediate repercussions from this. Because they've already lost. The chief executive over the management team is almost completely changed competitor. Erica America so. It's not like anyone who's going to have to leave as this report crying out. But in the longer term one of the things that has changed as they separated their it systems from Sabadell. They don't rely on savvy anymore. Which means that if in future Sabadell did want to offload? DSP It would be easy to do so on a practical point there's also ongoing investigations by the FCA on the Bank of England as well that could lead to find of a marketer concrete measures so the saga.

Sabadell TSP Lloyd TSB Nick Erica America Cspan Thomas Mr Savage FCA Bank of England ESPN Howard Sabas Nova systems Ltd China
"citigroup" Discussed on FT Banking Weekly

FT Banking Weekly

04:36 min | 1 year ago

"citigroup" Discussed on FT Banking Weekly

"Because indeed this definitely I into these their exit. Let's move onto our second topic and a looker. Stray Leah's banking sector. We don't often look at the banking sector dander but but Jamie thanks very much for joining us because it is a particularly rough time for Australia's banks if you think the big four banks Kamath Bank. Na A B WESTPAC. They rule been under fire from government. And they've all been under fire in terms of their performance. What exactly is going on? Why has a strategy as banking sector have the worst results in a decade well? We've witnessed a remarkable turnaround in the fortunes of Australia's big four banks over the last year in the decade since two thousand financial crisis with become used to these boutiques reporting ever-increasing profits dividends on generating some of the largest just returns an equity of any of their peers across the Western world but twenty nineteen really turned out to be a horror year for these banks on their shareholders combined. Cash profits efforts for the big four banks fell eight percent to twenty seven billion dollars last year on really. This is forcing banks to trim their dividends strengthened abound sheets. It's and cautioned about the challenging future. Look there are probably four things which have really calls this slump. In performance the first is increasing regulation and compliance activity the second is a weakening national economy and linked to this is record low interest rates and finally tougher competition from foreign and Internet based rivals. It's so strange banks now facing tougher regulation why exactly what form is taking public pressure. Flowing the Royal Commission inquiry into financial misconduct has has really forced to government and regulators to up their game here. This investigation exposed widespread wrongdoing including charging fees for new service line line to regulators on really shoddy treatment of customers were seventy six specific recommendations in the final report fifty four of which required wired government action and nuts ongoing but some of the main changes are actually attitudinal. I think the Prudential Regulator Opera and the conduct regulator a sick are targeting corporate culture within the banks much more aggressively so this includes hosting regulatory personnel directly inside the largest banks and I say has adopted a why not litigate policy recently which means rather than settling cases with banks. It's tending to take more court actions. We've also had a new banking executive accountability regime. Another factor. Ready that is dented. Banks profitability is that they're facing higher capital requirements and this is as a result of international rose but also a new set of domestic rules which come into force in Australia. At the start January these are going to require the big four banks to be unquestionably strong. So they're doing this so that there's less risk to financial stability but this also dense the bank's profitability because they've got a hold more capital on the bound sheik and as if this change Stralia wasn't enough of a headache for bank boards. The Reserve Bank of New Zealand is flagging a major increase in capital requirements for its main banks which are all owned by the big four Australian banks. How so have the banks responded to the new regulations Jamie well? The banks have either already disposed off or are in the process of selling off their wealth management arms which were implicated. It'd by the Royal Commission inquiry as being responsible for the most egregious wrongdoings typically offering dodgy financial advice and mistreating their customers so the main banks here are aiming to become more simple leaner banks which focused more on their core banking operations. We've also seen and you rules introduced on responsible lending which have forced banks to scrutinize their borrower's ability payback loans. Much more closely. What got started? It's caused banks to take a much more conservative approach to lending so concerns about the impact on the economy actually is forced upper. Recently the ease back on these rules somewhat. We're beginning to see the banks lend more this having less of an impact but certainly has been a big dent over the last twelve months and from here finally Jamie other banks results expected to worsen further. I think in the near to medium term. There isn't going to be a lot of good use for these trading banks so so I think any recovery for the banks.

Australia Jamie Royal Commission Kamath Bank Leah Reserve Bank New Zealand Stralia
"citigroup" Discussed on FT Banking Weekly

FT Banking Weekly

08:48 min | 1 year ago

"citigroup" Discussed on FT Banking Weekly

"Because if you look at the breadth of what cities do for individual clients put client len job within a flag on a map strat yeah that it is enormous. truly be a central bank almost in its own right so there's those issues than the other kind of fundamental one regular particularly concerned just the know your client and the money laundering implication all of this and this is at facebook has said it will not necessarily track all of the transfers and that's a huge issue because the idea of people being able to move money across if he comes out and says we're going to fundamentally change your thinking on some aspects that would change the tone or some of the dialogue certainly because I think the view is that not only has the leader project it's been wetted to it's naive as I think if there was an openness to fundamentally change the project that my health in some of the religious concerns the thing is though if you fast movement of funds all over the world for the bind on the on banked that's very hard thing to do and the more of these safeguards you put in the harder it makes get into that goal his testimony on the hill that's it for this week all it's left for me to do is to thank Stephen Laura and our guest from city David Livingston and to thank you too for thing we've launched a new podcast this month called the rotten review but we look at global affairs by the FTC chief foreign affairs commentator Gideon Rachman this week's show we'll take a look at the trump administration's trade war and we'll hear from one of the architects of his policy towards China the show is exclusively for FTE's prescribers so if that's you please go to F T DOT COM forward slash Rachman reviewed and sign up for a taste of global political debates.

facebook Stephen Laura David Livingston Gideon Rachman China FTC
"citigroup" Discussed on Knowledge@Wharton

Knowledge@Wharton

04:41 min | 2 years ago

"citigroup" Discussed on Knowledge@Wharton

"So the perspective from which I approach my research is imagined the best intentioned actor in the system. So imagine somebody at CitiGroup who is trying to learn from nineteen seventies, we're not going to make them learn from the nineteen twenties, but let trying to learn or build on the knowledge of the CitiGroup accumulated at some point in tracking down these various people. Many of whom are no longer with CitiGroup, just the circular pathway. One would have to travel. So imagine you're an analyst, your mortgage backed securities. You're investing mortgage-backed securities at CitiGroup, and you're trying to learn from the past. You would have to go in the circuit of path of locating the people you would learn throw. And so the recipe Matic problems that do not get addressed in the way. I feel like the incentives narrative is not helpful. I and this is not to say that there wasn't draw that there wasn't ill will, but the system has structural problems. The fact that we repeat mortgage-backed securities markets every fifty years right suggests to me that takes everybody to die who remember what it was like. And then we try again, right, so now as we're coming up on ten years, and I mean, I think as you know, there has been a lot of talk of when is the next price is going to be what's going to cause the next crisis? Do you see? First of all, any warning signs and also any potential changes that we could make that might help like might protect against that a little bit. I think that the house price, inflation is an incredibly potent signal of us being in the bubble of us being on the verge of a crisis. But I think the quantitative easing which is a factory, the printing money machine. Is creating liquidity which has been shown by folks like Marcus Bruno at Princeton to bring about crises. Right? So when you have too much money chasing too few. Attractive options you end up in the bubble and the bubble will have to post. And so in terms of what we know about preventing financial crisis. Right. A lot of it is not rocket signs. The banks are too big, right? The banks are too big to fail ten years ago, even bigger now. The consumer financial protection bureau has been more or less. Rented ineffective by the current changes and dodd-frank has been rolled back, which was a regular set of that people didn't think was strong enough to remedy what we saw happen. So so yes. So I think there are things that can be done, but it's not clear that the administration is interested in pursuing the path. Now, given a perfect world though where you had control to to do them, what would you do. What I would do is I would further strain the leverage of the banks, right? So banking used to be a boarding nine to five job. It needs to go back to being a boarding nine to five job. And now what's next for this research where you're gonna go from here. So for me because of my interest in these waters, the structural amateurs of the system. One of the projects that I just submitted to journal looks at the history of mortgage ownership recording because one of the very interesting things that came out of the two thousand eight crisis as it turned out that many cases banks didn't know who owned what loan Bretton you remember seeing those new stories where they're trying to find who owns the property. And so what I do in my researchers, I trace back the development of that system that keeps track of land ownership recording mortgage ownership recording to the sixteenth thirties. And what that allows me do is kind of is is to say, look, these structural problems. They have been around through these multiple generations of reform, because I feel like one of the challenges reforms often say sagana without reference to history is the, they think that they are the first people who try to reform the system. And I feel like learning from the people who came before them with actually be helpful, Natalia. Thanks so much for being here..

CitiGroup analyst Marcus Bruno Natalia Princeton ten years fifty years
"citigroup" Discussed on BizTalk Radio

BizTalk Radio

03:15 min | 3 years ago

"citigroup" Discussed on BizTalk Radio

"The dow is up two points sp was down one point the nasdaq was up one point the nasdaq one hundred was down six points what was interesting after the thing was announced by trump the market went up and then it was down one hundred fifty and forty on the nasdaq annika aim all the way back that i will say this so listen up remember what i said a couple of weeks ago about the market's going to have to prove itself the break the lows we're going to have to see you know the market really do its thing sellers would have to show up and they did a little bit but then guess what happened support held while i'm saying the same thing i think the market even though it's a couple of percent off the lows is strong enough here where i think the onus is on the bears the show up again okay with the dow up till the major indices hardly move in and here's why numero uno the financials have repaired himself enough that i think they're lows are gonna hold member they undercut a little bit and then broke back above now part of that today city somebody took a position in citigroup so that helped the financials but we don't rationalize why and when the markets sold off they sold them off but they came back by the end of the day next some conductors better the socks is up nine today and really finish strong towards the end of the day most of the charts in the semiconductor group still look like crap in this work to do but i think the lows have been put in for now and again the onus is on the bears to come in and do the selling on top of that the tone in growth pretty decent is pretty decent that's the best way i can explain it the tone in growth is pretty decent here if that changes we will let you know now i will tell you there's one thing that's really missing volume is just putrid prices better volume is putrid so we'll say okay we'll see good action in the financials today the oils were in bad shape early and then with this whole thing oil prices came back a little in the oil stocks were all green and i don't have much to say managed care was weak whoopie do biotech remains weak in the dow today amex chevron homedepot j p morgan three madala gainers.

citigroup
"citigroup" Discussed on CNBC's Fast Money

CNBC's Fast Money

01:33 min | 3 years ago

"citigroup" Discussed on CNBC's Fast Money

"I agree but right now if you're bearish into stuck you but everything you away in a socks three stove up three hundred dollars moving on we've got a news alert on citigroup let's get to leslie picker in the museum for the details leslie pay melissa the activist investor value act has built a large stake in citigroup in a statement to see him you see a representative for city writes quote we have been having constructive conversations with value act and welcomed them as investors now the wall street journal is reporting the size of the stake to be about one point two billion dollars amounting to about a point seven percent stake of citigroup value act which is led by jeff up and has been supportive of the ceo michael corbett the journal says and baseman report it doesn't appear that value act is looking to push for major changes at the bank but simply seeking to boost the size of cities buy back program to about fifty billion dollars now we restart value act for comment and have not yet heard back but regardless this is the latest investment in the financial sector for the firm value act took a similar size stake in morgan stanley in two thousand sixteen and that position has done very well in the aftermath of the election and beyond value act also disclosed a stake in case our last year melissa it in those positions leslie where they effectively passive investors largely guests they didn't take typical avenue that we'd expect to see from an activist investor running a proxy contest or pushing for a breakup of sorts they've largely been passive maybe having some discussions behind the scenes with executives but no major changes at those two firms so we can possibly expect the same thing from city but of course it's still early to tell.

citigroup representative wall street journal jeff ceo morgan stanley leslie michael corbett fifty billion dollars three hundred dollars two billion dollars seven percent
"citigroup" Discussed on KTAR 92.3FM

KTAR 92.3FM

02:23 min | 3 years ago

"citigroup" Discussed on KTAR 92.3FM

"Until they sell all that merchandise and then make it right and it just revolves revolves and goes around and around that's the easiest way can explain why only important to retailers so you have citigroup let's say you are sportsman's warehouse and i don't know what bank they use but let's say you city and citigroup just says you know basically we're not going to loan money to you until you refuse to if you banned the sale of firearms to people under twenty one you now have to change your policy you really don't have that much of an option or go to another bank so what how about you go to one of the biggest banks which holds and deposit one out of every ten dollars in this nation ten percent of banking has done a bank of america that is good norma's they're huge organization so you say oh man leave citigroup minimum i'm gonna watch me i'm gonna vote with my feet i'm gonna walk out here i'll show them and you go to the bank of america we go to the bank of america and they say oh yeah you know something if you're a firearm manufacturer we're not going to loan money to you if you make what they call assault style weapons aka ours all it's up once again there's no such thing as an assault style weapon there's there's by the way it's just a long gun until it's used in the commission of an assault or a weapon unless it's used as a weapon i have an ar fifteen long rifle that's it it's not a weapon having used it as such it's not an assault rifle because i have not assaulted anyone with it unless you consider target's something that i assault then but this is concerning to me because once again going back to the green tea ammo thing the green tea bamboo freaked me out because once again from an opposite si from the side that i'm not on the antigun side had a brilliant move don't ban firearms because you can't because of the second amendment right to bear arms was going to ban him munition this brilliant move didn't work but a for effort then we come to now that you.

sportsman citigroup america norma assault ten dollars ten percent
"citigroup" Discussed on WRVA

WRVA

01:36 min | 3 years ago

"citigroup" Discussed on WRVA

"From citi group so what happens citigroup loses those gun stores they go over to bank of america they go over to wells fargo they go to chase manhattan what happens if one of those said you know what we're gonna do the same thing this is happening this is happening so far it's only city group that's doing it may i recommend if you have money with citigroup and you believe in the second amendment you call them and let them know i don't appreciate your new gun restrictions i'm moving my money and when you open an account with bank of america or j p morgan chase or wells fargo you tell them by the way i'm opening up an account with you because i left city group because of their stance on gun stores you have to show the power that you have before the other three banks because look at this it's citigroup bank of america j p morgan chase wells fargo and then goldman sachs i i don't know about you but i've i've never seen the little kiosk for goldman sachs i don't that's not even i don't even think of that as a bank that's number five all you have to do is take three of these out you take four goldman sachs is going to we only take i'm sorry we only take a goldman sachs credit cards you think the american express card is hard to buy stuff with try goldman sachs credit card.

citi group citigroup bank goldman sachs bank of america manhattan
"citigroup" Discussed on KDOW

KDOW

02:14 min | 3 years ago

"citigroup" Discussed on KDOW

"The banks that we're going to be ready to short and i took the ones i put it up on my chart miami to chart and i waited too she turn red tummy the institutions are pulling their money out and my best one was a city group citigroup group now if you take city group from where change from green to red where we had the cell signal it went down six percent so most of my gang members most of my gang members got probably about half of that about three percent some who have that stock every day that does one of their special stocks always tell my gang if you really wanna make money if you wanna kiss us to make ten percent return a year year in and year out stay with the same five stocks and then you're going to identify the selling pattern you're going to identify the buying pattern before anybody else does you stay with the same stocks you become one with that stock so the ones who trade to group dropped when when you had a big warning that it was going to drop and it did it went down six percent wells fargo we got all of that eight percent thank of america i said the other day should bank of america's gonna get hit big because what's going to happen is when they raised this interest rate the banks especially bank of america is going to get hit hard the consumer's gonna hit hard and their bank stocks are going to start going down and he did went down six percent most of my gang got about three percent of the sex is still going down but the point is i was able with my chart identify the institution furthermore money out and they were able to take advantage of it take advantage of it and you should do the same thing the remember my gang specially the videos video stat group where i put out videos just say self help videos with anything else and i say let by the spiders or let's by this doctor that stock and i put out one or two stocks tonight and every night i put out the spiders that's where if you're real busy you should have the spiders because the spiders.

miami citigroup bank of america six percent three percent eight percent ten percent
"citigroup" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:12 min | 3 years ago

"citigroup" Discussed on Bloomberg Radio New York

"And wrapping things up its data upgraded by bank of america cognizant upgrade abide citigroup in the empty space chevron downgrades hold at hsbc walmart was up created by a goldman sachs and comcast downgrade to neutral had no more instinet live from the first word breaking news desk i'm bill maloney here all right thanks bill and here live breaking news over here bloomberg type squawk on your terminal s you you a w k and that's a bloomberg business flash tom john thanks so much karen clinton pressured that i'm here in london i'm gazing at the building of in one of the great things here john farrow z energy feature of the building in right outside this really stateoftheart studio of the lights and their mesmerizes yeah delivered him vladimir putin until conduct too much but you know what i find beautiful of avenue headquarters in london it's how love it is it is a typical high rise plumped in the middle of london taken advantage at the real estate and gun is haji cantle tool toll it's actually quite loudly complements it complements what's around at mansion house the bank of england on threadneedle street ready is a beautiful path london that i'm still very much in love with your it's been very successful and of course surrounded here as we are by the financial district it has been booming the say the least it is an important survey from a conflict board bert van ark were this right now i the mood is ceos at something they routinely tried out accept this year it goes to the heart of the great american debate bert van ark has decades of experience not only of parsing economics of america but linking that into what the conflict or does which is the uh behavioral mood if you will of what's going on bart let me get right to the chase we all know labor is tight why don't they just raise the wages good morning tom yeah i think that's that's one of the big questions why don't we do move faster in which increases look i i think the issue was there was still enough people on the sidelines to to be able to continue we've out wage increases but frankly this is going to change what we see and hear survey a on co ncc tremedous is that shortage of talent in particular.

america bank of england z energy john farrow london tom john bloomberg comcast bank of america citigroup bert van ark mansion house real estate vladimir putin karen clinton bill maloney goldman sachs hsbc walmart
"citigroup" Discussed on The Young Turks

The Young Turks

01:59 min | 3 years ago

"citigroup" Discussed on The Young Turks

"Money in their bank council this time but hey then you're not going to get to play around with people's savings accounts because we can't trust you right now do you think this is going to turn up you think the banks are going to get away with murder of golf so here's the risks of sort however that punishment can be avoided if the firm's managed to secure a special exemption from the us department of labor allowing them to keep their status has quote qualified professional asset managers or qualified crooks now remember they admitted to being crooks they said yes we all got together and fix the rates to screw you out of all that money or kate are they going to be deemed qualified anyway so look this thanks quote gives you a perfect sense of washington so it involves obama in trump so serono explains in late 2016 the obama administration extended temporary one year waivers fruit to five banks citigroup jp morgan barclays ubs and deutsche bank late last month the trump administration issued new longer waivers for those same banks granting citigroup jp morgan and barclays 5year exemptions and ubs endorse your bank received three or exemptions that right there is washington and not show right uh democrats republics are the same exact thing democrats are a little bit more savvy about a bigger all extended for one year because it seems more temporary i mean i keep extending it every single year but i do a year by year so doesn't seem like i'm running the banks get away with murder you never know one of these days i could get tough on them plus then they're going to have to spend a lot of lobbyists money again and he can have to give me a lot of campaign contributions again whereas the republicans come in and go nowhere we're for the bankers we like to during election that's isn't that obvious were for the rich were for the bankers then when you wall street whatever they want you want five you're saying five years don't your bank against special deals with these three years enjoy your the worst of.

murder golf washington obama trump obama administration jp morgan barclays ubs deutsche bank jp morgan us department of labor kate citigroup ubs democrats one year three years five years 5year
"citigroup" Discussed on KBNP AM 1410

KBNP AM 1410

02:34 min | 3 years ago

"citigroup" Discussed on KBNP AM 1410

"And buy more it and then though your children and by more of byebye toothpaste dot com or some other piece of fake stock yeah well as it firms out uh uh i argued this twice these companies terrible all you know more than mary meeker at morgan stanley and abby joseph kony goldman sachs and uh uh uh i guess so what but as for doubt i didn't i i wasn't the right question by august well no i question fate white those companies either they put by recommendations on them because they were lying to everybody so in my opinion uh uh i i'd rather deal somebody somebody that's dumb leash got a chance to educate somebody that is ignorant but a liar that's a whole different ball of wax and every single one of these big investment firms out there the 'toobigtofail banks have proven themselves to be china norm is liars again and again and again and again and once more and again and what happens zip zero zilt nada citigroup this got caught again not making this up putting out in the accurate research rates putting by ratings on stocks that were actually raided itself they put these recommendations out to their brokers and their customers again i could make this up if i wanted to be going on for five years now more than eighteen 100 securities at thirty eight percent the stocks that are actually covered by city group what was the fine it was a finally much i would uh i would i would guess that citigroup spelled spends more than five million dollars on paper clips over the course of here the ira's is another teachable moment lesson here at the watchdog and wall street shall there isn't any justice don't expect there to be uh because there is a uh uh.

morgan stanley goldman sachs mary meeker abby joseph china citigroup five million dollars thirty eight percent five years
"citigroup" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:15 min | 3 years ago

"citigroup" Discussed on Bloomberg Radio New York

"The uk to start discussing trade negotiations are moving at a snail's pace and politicians in the uk adequately you have started talking about the prospect of failure in brussels in wishaw bloomberg daybreak europe so that's the uk meanwhile the us banking sector releases a slew of earnings over the next few days with jp morgan chase and citigroup kicking it off this morning jeff bellinger has the preview both big banks of warned investors the bureau ver year drops and trading revenue executive said last month they expect declines of at least fifteen percent bloomberg intelligence says banking fee revenue from jp morgan and citi group will also be scrutinized the numbers will provide an only read on the banking industry for the third quarter and early fourth quarter forecasts are for jp morganchase to post an adjusted profit of a dollar 65 or sheer on revenue of nearly twenty five point six billion dollars for citigroup analysts are looking for adjusted earnings up a dollar thirty two was year on revenue topping seventeen point eight billion dollars in new york i'm jeff probyn jer bloomberg daybreak now you wants to follow these bank earnings and get the best of bloomberg bag just type t live go at eleven forty five am london time for jp morgan's earnings and one o'clock london time for city quick and of course they both had low the bar i mean that's the b i take that they lower the bar in terms of our expectations on trading trading revenue done by by 15 to 20 percent is what we can expect let's go beyond markets who better to get us there and the and guarantee takes us to your global news reports the uncle one good morning manas donald trump has said he'll announce whether or not he'll decertify iran's compliance with its nuclear deal quote shorlty iran's president hani says if america back south they'll violate into national rules imro's calmer lam who shanley should could do today will become completely clear which government is the rebellious government who saw the national palm will become will clear which countries respect the by the world countries in the world public opinion new zealand is when gets any clarity today on who the national for his party will support for government bloomberg's matti its reports from wellington let's lootah the.

bloomberg shanley america president donald trump london jeff probyn jp morgan citigroup us wishaw bloomberg wellington uk hani iran new york jp morganchase executive jeff bellinger jp morgan chase europe brussels eight billion dollars six billion dollars fifteen percent 20 percent
"citigroup" Discussed on KDOW

KDOW

01:52 min | 3 years ago

"citigroup" Discussed on KDOW

"Can afford it she i you really think they're going to let the government pay three percent or four percent and money when just last year to sign their pay a one point one percent they're gonna logo pay four percent think only four one point four percent one point one percent of the gonna pay four percent or three point eight percent thinking so she's gonna at some point drop interest rates back year zero and that's the whole plan everybody knows that everybody ozer and then a marco really rally and that's why you gotta be prepared for what's going on now bank stocks are going up and up and up and i got my gang and all the bank stocks now now if i i told them when this all start i said make sure you go look at citigroup you look at bank of america and goldman sachs which is our favorite because those three statue an interest rates are going up they benefit the most because they have a lot of consumer product so citi group is up when a term from red the green citigroup it up think of this seven percent since september nineteen goldman sachs one of our favorite once goldman sachs is up over ten percent goldman sachs what's wrong with a ten percent return goldman sachs says since september 14th and bank of america that's another one bac bank of america that's another and and he's all turns green all about the same time bank of america which is up about another nine percent that's why you gotta join my gang follow me with these stocks is not hard we'll be right back horse more allow regional just show phils getting or give them a call eight seven seven six hundred celebrating eighteen years as.

interest rates bank stocks citigroup goldman sachs america phils bank of america four percent one percent ten percent eighteen years eight percent seven percent three percent nine percent
"citigroup" Discussed on Binge Mode: Game of Thrones

Binge Mode: Game of Thrones

02:09 min | 4 years ago

"citigroup" Discussed on Binge Mode: Game of Thrones

"We'll get into that later in order to evade the ire of the then extremely powerful trang lord's bravo's a kept its location its very existence secret much like well kanda in those early years it's merchants used an abandoned iron mine as a place to safeguard valuables inspire it's and thieves and stuff um as citigroup so did this horde of treasure gold silver plate jules whatever art not to be content to just let this pile of currency laid needlessly fallow some butting capitalist somewhere in prowess got smart idea of putting their money to work thus the iron bank when bravo said grown strong enough to reveal itself to the world it sense emissaries from the iron banked valeria to repay the descendants of the slave owners whose former property ended up founding city the iron banks emo is really very simple just like any bank anywhere you can place your money with them for safekeeping they take percentage of lend out the money and recoup the profits lotta their lending is to king's are cons princes people for war they need money for war need easy coin into order to pay the troops to feed them to buy sort of stuff after the parties who they have supported when you hope of the borrower than pays back what he owes plus interest extremely brown voice would if they don't i would if they don't great question if that should happen like say stennis bars bunch of money and then is like i actually fought the iron bank they within fund his enemies his enemies would agree to buy essentially a portion of stances debts and when they win the iron bank hopes they would then be responsible for the money they were owed plus some portion of stanislaus original debt if that and other methods of undermining the the debtor unsuccessful well good news bravo's is home to the most fearsome guild of assassins in the world the faceless man could they be doing work for the iron bank um so the are back of bravo's their slogan by the way the iron bake always gets its do tough.

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