36 Burst results for "Citigroup"

Fresh update on "citigroup" discussed on Bloomberg Businessweek

Bloomberg Businessweek

00:26 sec | 15 hrs ago

Fresh update on "citigroup" discussed on Bloomberg Businessweek

"Office of the controller of the currencies says American banks are increasingly under the gun from cyberattackers seeking to extort their businesses The finding comes in the OCC's semiannual risk perspective saying it has observed an increase in ransomware attacks among some of the bank stocks today They're all higher JPMorgan Chase up 1.3% Citigroup .7% Wells Fargo up two and a half percent Bank of America 1.1% And that's.

OCC Jpmorgan Chase Citigroup Wells Fargo Bank Of America
Several Ethiopian armed opposition groups to form alliance

AP News Radio

00:42 sec | Last month

Several Ethiopian armed opposition groups to form alliance

"Ethiopia's Tigray forces adjoining all the armed groups to form an alliance against prime minister admits after a year of war that has killed thousands of people the new union include Citigroup forces as well as the aroma Liberation Army and seven all the groups from around the country the alliance now known as the United front of Ethiopian federalist forces was signed into being in Washington organizers say the group will be both political and military with the aim of deposing prime minister Abiye admits to seek a political transition after a year of devastating war US special envoy Jeffrey Feltman this meeting with officials in the European capital amid calls for an immediate ceasefire and talks I'm Karen Thomas

Aroma Liberation Army Tigray United Front Of Ethiopian Fede Ethiopia Citigroup Prime Minister Abiye Jeffrey Feltman Washington United States Karen Thomas
"citigroup" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:59 min | Last month

"citigroup" Discussed on Bloomberg Radio New York

"When you look at the second half of 2022 are we seeing higher prices that are now outstripping the rises that we're seeing in wages Does that become a little bit of a spiral where we see prices and wages rising together Or does this actually become something that's negative for demand That final point is the key question Is it something that becomes negative for demand Demand right now is robust Andrew Holland horse there of Citigroup The chief U.S. economist from New York City this morning good morning Tom Keane Lisa browner and Jonathan Ferro Your equity market futures are just about positive up 0.05% after a record close yesterday and a third day of gains on the S&P into the bond market yields basically unchanged down Let's call it a little bit to one 55 on tens The front end in focus coming into the fed tomorrow crude 83 50 They're in there about down 7 tenths of 1% on the session on the year on WTI Tom 72% on WTI Used to move In some of the other commodities up a 100% on a nominal basis as well over the last four or 5 years How many blast joins us right now lean forward folks This is your energy conversation of the day The book is the world for sale blossom You can buy a bottle of beaujolais with a book royalties but the movie rights have been off the chart The world for sale winning all sorts of business book nominations and awards This year Javier I want to talk about the giant David pimentel of Cornell University that professor emeritus who did the original work with the UN on energy inputs into food I want you to walk away from OPEC and tell me what these energy prices do to wheat to rice to corn Well it makes you are making a very good point It makes food very expensive to produce because we need natural gas as a main input to produce fertilizers and the price of fertilizer right now depends on the location that you are looking at But around order add an all time high And that means that when American farmers and farmers elsewhere need to plant the next crop they're going to face a very steep increase in cost It may mean that they are going to apply lower fertilizer that it will be the case And certainly would suffer as a result So that's one reason we're going to have higher food prices 'cause of time Javier I understand rice elasticities and Cambodia are different than California We all intuitively get that Are you framing the hydrocarbon mauve is a concern and interesting exercise are we in some form of pending crisis linking hydrocarbons into food I think that we are in our energy crisis right now The prices that we have seen for fuels across the pore not only oil at $85 a barrel but network gas prices particularly here And in Asia thermal coal prices certainly in Asia is a prices that will have been equal to a crisis in the past We see manufacturing capacity being shut down in Europe because the price of energy is too high And it's happening in India and China So essentially we are in a crisis I would not call it yet a food crisis because the price of rice remains contained It's so far soybean corn and wheat but what prices are increasing if rice joins that race on food prices moving high again I would be more concerned a good reminder that rice is the main staple for about 3 billion people in the planet Javier a lot of nations have actually said to OPEC plus please pump more oil including the United States including Japan OPEC plus meeting on Thursday Why have they been so reluctant to adapt to the reality that other people are seeing which is oil prices that are likely to keep climbing Not only those two that you mentioned but also India we are hearing also that behind the door China is also complaining So as you say a very important group of top consumers put in pressure on OPEC OPEC is responding that the problem is not really oil is a natural gas and thermal coal markets But I think that OPEC is probably missing the point to us then There is an oil shortage The market is extremely tied but OPEC is more content about the downside They're worried that with a winter we may have another increase on COVID cases that the demand may suffer going into the future But those concerns are for the future Right now there is a shortage of oil and OPEC is happy letting the market growing up Is there another reason I'm wondering Javier Because honestly it seems like Francisco blanc who's actually been pretty accurate if Bank of America came out said he's expecting Brent crude to go to a $120 a barrel by June 2022 I have not heard one person come out and say they expect a plunge in the price of oil in the near term as a result of an uptick in COVID cases What is OPEC plus looking at Well I think that Saudi Arabia in particular is looking for if I'm going to make a favorite to do the United States where are you giving me in return We have been hearing some messages from the U.S. and from the southeast about what is at play But I think that they said geopolitical play the United States one Saudi Arabia to lead OPEC to a production increase The southeast probably are asking something in return probably is a better relationship between the two countries And until that happens I think that both sides are going to play a bit of a hard ball Javier is we have higher food prices in oil Do you have a tip point on Brent Is there a price point on Brent where the world it's been for sale forever comes undone I think that we are approaching the point where consumers are starting to feel the pain I certainly myself I was filling up the car over the weekend And I realized how much gasoline prices have come up recently over the last three four weeks in the United Kingdom and I felt like a damn it That was expensive And I'm sure that many other consumers are filling the same way particularly in countries like the United Kingdom where gasoline and diesel are heavily taxed prices are very high between 7 and $8 per gallon give it or take compared to American prices on American gallons So I think that we are approaching the point where consumers are starting to suffer But we are not yet seen any demand destruction that will mean that we are not breaking point And we have seen in the past that the global economy has taken a hundred and $125 and demand has not suffered How much is a liter of petrol right now in London Javier It's a 143.9 Is it really One 43 Yeah that's expensive Wow 60% 58% of that is tax or at least the fuel tasty Then van on top I was 75% of that price goes to the UK government rather than to offer them Operate Googlers will make I mean you won lower prices you could lower your taxes Have been plus Thank you sir It's a running for office there Tell them that break down there at the end The breakdown of the price fuel duties about 57 58 pence I forget the precise number Then you've got the taxes on top 75% of the leader of fuel is tax UK We've got other states I don't have it in front of me John but they're selected U.S. states that are on the edge of that To bring that over John to the crisis at hand then you have an entire nation like Indonesia with the size of population where the government unilaterally comes in and fixes the price of hydrocarbons And who wants to be seen over at Glasgow right now Tom cutting fuel duty Can we tax it When you got 400 golf streams landing you know call it worse than Davos I don't think that's possible but you know the uproar here about the 400 gulf streams is tangible Political reality Lisa this week is Shannon pretty brightly isn't it Yeah the idea of not wanting to seem like you're trying to foster more hydrocarbon use by reducing the tariffs and yet not wanting the political ramifications of the price of petrol Bloomberg terminal lighting up now Is it people writing in taxes $1.

OPEC Javier Andrew Holland Tom Keane Lisa browner Jonathan Ferro WTI Tom David pimentel U.S. Citigroup Asia Francisco blanc Cornell University India
"citigroup" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:53 min | Last month

"citigroup" Discussed on Bloomberg Radio New York

"Internationally It's because they can do deals because they have to do deals Both That was Tyler Dickson of Citigroup and Carol his words are ringing true in a big way So true Tim this week in the magazine in fact our deals reporter ad Hammond he writes about the importance of psychology in this year's record deal making boom one that could exceed $5 trillion in total value when all is said and done In any circumstance astonishing number But when you look at all the environmental factors going on in the background and why you wouldn't want to do a deal right now I think you will also And what's interesting ad and you really did set up me so well But what's interesting too is these deal makers that I talk to bankers over at city at Deutsche and elsewhere They said that in many ways members of the C suite are getting kind of poked and prod by their board for not doing deals right now Talk to us about what you're hearing why these deals are getting done Despite the backdrop of a pandemic and worries about the outlook in supply chain problems and so on I think part of it is just the cost of an Asher is also very high look Obviously doing a deal at any time carry some risk and you can get it wrong and that can be consequential as the CEO you can do your board is your job story the board you can be It talks about But I think right now with the amount of disruption that's going on across the industry and the rapidity of change to almost every industry is going through I think on real costs to not doing stuff and not growing And the amount of a lot of companies are matched out on organic growth and M and a is obviously a very quick and efficient way A lot of the time to turbo charge that growth in organically In reporting this story you also looked at how investors react to companies that when a company does announce an acquisition both to the company getting acquired and the one doing the acquiring what did you learn It's a very interesting trend that we seem to where you have this sort of an only in the market where shareholders are coming out when companies announce deals and saying this is something we do like in the reflecting that in a way that shows trade Acquisitive companies think shares trade up which goes against almost every historical transformation The recent PayPal's interest deal that was talked about right before I came on obviously that was slightly different where you sort of PayPal trends down and trade down heavily on news and some extent we think that's why they've now pulled the plug on that particular deal But yeah investors again look the happy to see companies going out getting on the front foot and pulling whatever leaders they can to achieve growth in this market And I think they're all comes back to the fact that we are seeing not reckless deals We're not seeing companies go out and try and do very very large complex sort of horizontal margins This is much more vanilla let's go out let's do a deal that actually is in line with what we said we wanted to do strategically perhaps to get this slightly quicker from a to B that we would get there organically Well how much of it too is pandemic related or our pandemic push at trends disruptions digitization was happening but it might have happened over the next three to 5 years and all of us and it was like bam it's happening now And I've got to possibly do a deal and acquisition to put my business in the right place to embrace that Yeah and I think that that comes back to this issue of disruption and the speed at which it's occurring now And as you say the pandemic sort of supercharged some of the activity But you look at any industry now and they are all they're not tech industries that have enabled industries And so a lot of them we've seen a lot of this already this year Are going and doing acquisitions that don't necessarily look like a sort of straightforward industrial company buying an industrial company They are an industrial company buying a software company because they realize that actually this is the way we're going to keep growing and it's much easier to go out and buy something small that we can just tuck in than build our own capabilities and in an area that perhaps is not where we have existed skills How do spacs play into the boom that we've seen over the last 18 months In terms of the sort of headlines and the amount of noise and interest they come on they're enormous but in terms of the actual dollar value they're very very tight Certainly if you look at the sort of development value of the facts themselves rather than the dollar value of the company they often reverse into a minority holder you're talking here It's the minimum But obviously trends they have been a driver of activity I'm sure you've seen some companies go out and do M and a because they were sort of worried about what might otherwise happen with respect potentially buying a target that they were interested So I think it's contributed but certainly there is a quite serious dislocation between the amount of noise that have generated in the actual contribution they've had to overall M and a this year So all right if we end up with 5 trillion and then some this year does that mean things necessarily slow down Because I know from my panel they all seem gangbusters that it would continue into 2022 but what are you hearing I mean money is so cheap It's easy for they've also got a lot of cash to play around with Yeah look money is cheap And that's often cited as one of the reasons we're seeing this great market What I would say to that is money has been cheap for a long time So I don't think it just keep money I think there's a lot of momentum going through the M and a market at the moment Some of that is obviously catch up after we had that slowdown during COVID And I think some of that will continue into 2022 The conversations we've been having we had a comment that M and a Vancouver TV is talking about the strength of the pipeline They actually think it's stronger than the current market conditions we're seeing which would suggest going into 2022 we're going to have a lot of deals backed up really to go whether it continued through 2022 2022 sorry who knows I think a lot of that will depend on what we see in sort of global affairs What we see the domestic economy but also obviously some of the sovereign risks that persist That was Bloomberg news deals reporter Ed Hammond and we should note that Ed mentioned there is one potential fly in the M and a ointment on the horizon That would be rising interest rates That's the finding item on everything It is And we keep hearing from fed officials It's not going to happen next year It's not going to happen till 2023 We shall see Maybe it's the only thing it's not a fly in the ointment of is inflation right What do you mean Well it's the point is this to curb inflation That's where interest rates go higher That's true right Exactly All right still ahead on Bloomberg businessweek A panel of investing in legal minds question the effectiveness of environmental social and governance initiatives And one of them BlackRock's former chief investment officer for sustainable investing is among the skeptics This is Bloomberg.

Tyler Dickson PayPal Citigroup Hammond Deutsche Carol Tim Ed Hammond Vancouver Bloomberg news Ed fed Bloomberg businessweek BlackRock Bloomberg
Tokenisation of Assets and Potential Implications for Financial Markets

Insureblocks

01:37 min | 6 months ago

Tokenisation of Assets and Potential Implications for Financial Markets

"Iota. Welcome to injure blogs. Could you please give our listeners. A quick introduction on yourself. Hey thank you very much for the invited. Sa- great pleasure to be here today and to participate to the ensure block series of discussions. I do hope today's is an interesting one and then informative one for your listeners. And let me just also mentioned that i i personally admire your rebalance airs project and i find it an extremely worthwhile and timely project so kudos for that in terms of my personal background. I've started my career as an investment banker. in london. i worked for the desk of merrill lynch for my analyst years and citigroup for my associate years and then i switched to the policy space and joined the oecd where spent the past almost nine years now working for the committee on financial markets Over the past couple of years of the committee has set up a working level group on an informal setting. it's the expert group on financial digitalization and comprises representatives of central banks finance ministries treasuries and other financial authorities or varsity eight always de members. And this group looks into fintech related matters in financial markets and their policy implications including the area of blockchain in finance. So this is a bit of my background and let me just also give the usual disclaimer. That's of i express here. Today are my own views.

Committee On Financial Markets Expert Group On Financial Digi Merrill Lynch Citigroup Oecd London Blockchain
U.S. Stocks Raising to Record Values

Bloomberg Markets

00:16 sec | 8 months ago

U.S. Stocks Raising to Record Values

"Stocks Rising to record says and P 500 advancing to an all time high Led by healthcare and technology sectors. The financial shares their declining who, along with yields falling. This comes even after Citigroup and Bank of America posted better than forecast trading revenue

Citigroup Bank Of America
Fed tightens bank capital requirements

Marketplace Minute

00:44 sec | 9 months ago

Fed tightens bank capital requirements

"Change for banks. I'm nova safa with the marketplace minute. Since last april the federal reserve has allowed banks to keep a little less in reserves than they would otherwise have to the idea was to encourage lending and the purchases of government bonds at a time when the economy needed the boost now the federal reserve says the rule exemption it had implemented to allow for. This will end. Starting in april banks will be back to the old rules. Fed officials savings have plenty of capital. And they're not worried but analysts say there's a risk of disruptions in the bond market. The news sent bank stocks tumbling today. Shares of j. P. morgan chase bank of america wells fargo and citigroup where each down several percent. Meanwhile

FED Morgan Chase Bank Of America W Citigroup
Tech Stocks Sink in Early Trading as Bond Yields Climb Again

Bloomberg Markets

02:16 min | 9 months ago

Tech Stocks Sink in Early Trading as Bond Yields Climb Again

"Let's get over to Dave Wilson. Right now. He is in the studio with a look at stocks. Dave We're not seeing a lot of movement on the index is, but what do you see under the hood? Well, I mean, you've kind of got big tack on one side and big banks on the other. That's how things are kind of lining up in early trading. So you look at what's lower in the S and P 500. You see technology Chris Apple Microsoft fitting in their communications services, Google's owner, alphabet as well as Facebook, and then that consumer discretionary category where you find Amazon dot com and Tesla's so you know, that's one side of the coin. The other side's what's going on with the banks. You know, we're seeing Bond yields move up and bank stocks kind of going along for the ride, and we should point out yesterday. KBW Bank Index, which tracks 24, the largest U. S. Lenders, broke a record that had stood since February. 2007. So it's like the banks are finally getting out from under the shadow of the financial crisis. If you look at their share prices, and by the way that KBW index is up 2% today, and we're seeing gains of on that magnitude from JP Morgan Bank of America, Citigroup, Wells Fargo and Maura's, So you know, it looks like You know, we kind of got, you know, the kind of classic on the one hand on the other going on in early trading. And what you get out of that, in terms of the broader market is not a whole lot of direction mean some weakness, But you know, the S and P 500 actually coming off its early lows at the moment. Have to have a guess. What we've seen today is another example of that trade We've seen recently. You know what bond prices trade off interest rates push higher, and that brings the NASDAQ down with it. We're seeing that again today. Oh, yeah. I mean, that's you know, sort of how things are lining up at the moment on them beyond that, though, I mean, you look at utilities in real estate, you talk about the areas most sensitive to higher rates. They're actually up a bit. In early trading. You look at their S and P index is higher by three tents for percent. So you know that's kind of uninterested contrast and you know, they kind of puts them in the metal, arguably between big tank and big banks and big tech

Chris Apple Dave Wilson Kbw Bank Index KBW Jp Morgan Bank Of America Tesla Dave Amazon Microsoft Maura Citigroup Facebook Wells Fargo Google
"citigroup" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:44 min | 11 months ago

"citigroup" Discussed on Bloomberg Radio New York

"This is a Bloomberg business Flash and I'm Karen Moscow. Global markets are climbing ahead of his speech by Treasury secretary nominee Janet Yellen. We check the markets every 15 minutes throughout the trading day on Bloomberg. S and P futures up. 27 points down. Futures have 175 and NASDAQ futures have 127 the decks in Germany's up 1/10 of a percent 10 year Treasury down the 30 seconds yield 1.11% yield on the two year 20.13% Nynex Crude oil is a third of a percent er, 19 says, and 52 55 a barrel Comex gold is up 7/10 percent, or $13.30 at 18 43 30 Announce the euro 1.2130 against the dollar. British found 1.3619. The ended 104. That's a Bloomberg business Flash. Now here's Michael Bar with more on what's going on around the world. Michael Aaron White House officials don't expect President Donald Trump to pardon himself, family members or close aides, according to people familiar with the matter. President Trump is expected to announce a list of pardons on his final full day in office. Meanwhile, President elect Biden will arrive in Washington today on the eve of his inauguration. Tonight, Biden will hold a somber event he will honor those who have died from covert 19. The president's attorney, Rudy Giuliani, says he will not take part in the impeachment trial. After all. Giuliani would first said he was taking part in the trial told ABC He's a potential witness in the MBA, the Knicks, nets and Warriors, all one in the NHL, the island to shut out the Bruins. One zip. Global news 24 hours a day on air and on Bloomberg. Quick take powered by more than 2700, journalists and analysts in more than 120 countries. Michael Bar in this is Bloomberg. Nathan. Okay, Michael. Thank you. It's 5 48 on Wall Street live from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak as bank earnings continue later this morning. Of course, we've heard from J. P. Morgan Chase, Citigroup and Wells Fargo later this morning. We hear from Bank of America and Goldman Sachs. So let's get a preview where things stand. Bloomberg Radio and Television finance correspondent Shonali Bosic. Great to talk with you again, Shonali. And I guess if there was any theme that we gleaned from the first three banks reporting on Friday, it's to temper expectations as far as the economic outlook. So what indications? Are we getting from B of A and Goldman heading in? Well, we don't know yet, right? And that's a great question here. Tempering expectations we saw JP Morgan Wells Fargo, Citigroup. Really, uh, cut their reserves for loan losses by more than $5 billion, So that's a good sign. But we've also heard J. P. Morgan say. We really don't know what the rest of the year is going to look like It looks like it's getting better, but there are still some concerns on the horizon. Right now for Bank of America, obviously, at least for Deutsche Bank's perspective, the analysts they're saying that interest income is going to be a big deal. Of course, they've got a lot of rate exposure and be obey. That's for sure. They've also said that they expect outlook to get better from where they were in the middle to late last year. Where you know, they even pressured on that interest margin for years now, So the question is, Bank of America has been moving to Morphy based businesses. Can they really weather the storm here? Can they really get some relief here as we're seeing the yield curve steep in, but I have to say. So far. The outlook has been pretty sluggish among the other three banks so we would expect the same from Bank of America when it comes to Goldman Sachs. A lot of their businesses in Wealth management investment banking where the indications there Yes, so though, as we know this whole year, the Wall Street businesses events so much better than those consumer businesses that have faced those loan losses. So what we want to see today from Goldman Sachs is really just More out performance there last quarter was a standout. Can they keep up that performance? And what about costs that spittle? A lot of the discussion, particularly for for Goldman Sex? I think it's safe to say going in. What are they sort of indicated here? Yeah, absolutely. Goldman and Morgan Stanley tend to have higher efficiency ratios, but, you know, So do the consumer bank. So I think cost cutting is going to be a story across all of Wall Street. Remember Bank of America in particular is one of the firms that said they wouldn't cut head count in 2020 in the pandemic here. So what does 2021 look like that Goldman we know has been trimming at the margins. We know they've been looking to lower cost locations. And really, it's just an update. I've they're on track. Tonto cut cost quicker because they had promised investors last year their investor day that they would do so what should we expect when it comes to share buy backs for either of these banks? Yes. So the three banks that have already reported said that they would return to share buy backs for J. P. Morgan, that's to the tune of $4.5 Billion. The Thing is, there's an expectation that a lot of these buybacks are really priced into the stacks the CIA. That's why and on Friday you saw all the major banks still decline, even though we did see those buybacks come back. We would expect Bank of America and Goldman Sachs to give more color and how much they're willing to buy. And of course, as you mentioned trading revenue, the equity side has been such an outperformer for all the Wall Street banks so far could that be something? Particularly for Bank of America when they report in just about an hour here that might offset some of the the drama. Perhaps that we might see from some of the more rate sensitive sites of Bank of America's portfolio. We would hope so. But you know, there's drama on the trading side, too. There's been a lot of changes at the top for their sales and trading division. But On their investment banking side. We may see it in the numbers. As far as performance goes, They really gained a lot of share an investment banking and advising on mergers and acquisitions and on my post globally, so let's see how that translates into profit in our last 30 seconds here, would you expect a Treasury secretary designate Yellen's comments to be a mover for bank stocks at all? I think there's a lot of things that already expected in the tent the town she's going to take. I think another interesting thing over the weekend was AH lot of news about the other bite and regulators and how hard they may be on Wall Street. So I assume that they'll get some questions about that today at both Goldman Sachs and Bank of America, Aziz we say We're expecting those results from B of a in just about an hour here, followed by Goldman Sachs right around 7 30 Bloomberg radio television finance correspondent Shonali Bostic. Makes.

Bank of America Goldman Sachs Bloomberg Goldman Bloomberg Interactive Brokers Bloomberg Radio J. P. Morgan Rudy Giuliani Michael Bar Janet Yellen President Donald Trump Deutsche Bank Citigroup JP Morgan Wells Fargo Germany Biden
Avon Rebrands Amid a Surge in Reps

Business Wars Daily

03:16 min | 11 months ago

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 | 11 months ago

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
US businesses cut Republican party donations in wake of riot

Science Friday

00:29 sec | 11 months ago

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 | 1 year 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 | 1 year 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 | 1 year 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
"citigroup" Discussed on Yahoo Finance

Yahoo Finance

04:13 min | 1 year ago

"citigroup" Discussed on Yahoo Finance

"Michael Corbat has spent the majority of his life in the banking industry working thirty-seven years at Citigroup. The last eight of them as the company's CEO. He's worked his way through economic catastrophes. Whether Market crashes and is even faced off against the federal government, but none of those have prepared him for the crisis. We're facing today city is one of the largest consumer and Investment Banking groups in the world with more than two hundred thousand employees in a hundred and sixty countries most of whom are now working remotely as a result of the covid-19 pack MC in this episode of influencers. I speak with Michael Corbett about managing City while working from home his looming retirement and the role banks have played in keeping the home icon Ami afloat in 2020. I'm here.

Michael Corbat Citigroup federal government Michael Corbett
Dow Jones Futures Surge As Pfizer/BioNTech Coronavirus Vaccine Effective

Morning Edition

03:45 min | 1 year 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 | 1 year 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
Pandemic's total cost to America: $16 trillion

Jay Talking

00:27 sec | 1 year 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
"citigroup" Discussed on WTVN

WTVN

01:34 min | 1 year ago

"citigroup" Discussed on WTVN

"Defender dot com Citigroup, one of the big Four banking entities in the US fired an employee who was linked to Q and on conspiracy theories. The story from ABC is Aaron Carter Ski Citigroup said Jason Godliness is no longer employed after a breach of the bank's code of conduct, which requires employees to report in advance outside ventures for which they're paid. Salinas was linked to a Web site that promotes Q and on conspiracy theories, including a claim that President Trump is battling a deep state plot of Satan worshipping pedophiles. He reportedly received more than $3000 a month for managing the site, which promotes what the FBI has called anti government identity based in fringe political conspiracy theories that likely motivate domestic terrorists. Aaron Carter SKI ABC NEWS NEW YORK The musical guest slated for this weekend, Saturday night Live has been disinvited for breaking pandemic protocols. Here's a bee sees Jason Nathan Country star Morgan Wayland was supposed to be the musical guest on SNL this weekend. Then came videos of him partying in recent days in Alabama, no mask, no social distancing. Wednesday he posted a new video from his New York hotel room getting ready for us And now this Saturday and I got a call from the show. Let me know that I will no longer be able to play. He says. He was told. Koven protocols. I respect the show's decision because I know that I put them in jeopardy, and now he'll take a little break from the spotlight has some growing up to do. Jason Nathan's and ABC News Hollywood. This is ABC News. President Trump is fighting back each night. Greg Kelly reports gives you the real story on Trump and exposes Joe Biden's record Almost.

Morgan Wayland President Trump Citigroup Aaron Carter Jason Nathan ABC ABC News Jason Godliness SNL US Greg Kelly FBI New York Salinas Joe Biden Alabama Hollywood
Feds fine Citigroup $400 million over faulty risk management

BTV Simulcast

00:23 sec | 1 year 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 | 1 year 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
"citigroup" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:12 min | 1 year ago

"citigroup" Discussed on Bloomberg Radio New York

"30 am in Hong Kong and here in Singapore on Juliette Solly. And I, Brian this in Hong Kong Trading is underway in the China markets and also here in the HangSeng index is trading up about a quarter of 1%. We're seeing a little bit of a moderation and in some of the selling we saw earlier than Ikea has been up for the past hour. Up about a third of 1%. We shall see some markets Lower. The cost is down a half a percent. The SX 200 down and 9/10 of a percent. So investors tussling a little bit here between the Bulls and the Bears. Get your details in a few moments, But now the top stories well, President Trump says he will not give more time to TIC Tac's Chinese owners to sell its U. S operations to an American bio. Bloomberg News had reported that TIC Tac's on a bike dance is likely to miss President Trump's deadline a September 15th to divest its U. S operations. Bloomberg's Dominic says bidders have to navigate through many challenges ahead. What Michael Chapman Oracle will have to do is to figure out exactly what criteria the Chinese government in order to approve the sale on exactly what the Trump administration needs in order to put a felon on the court to evaluate their own interests. In preliminary talks with Chinese officials by dances being told that any proposal must be submitted for approval with detailed information about technical and financial issues. This also, according to a Bloomberg report. A ban on Tic Tac's U. S operations also requires the company to act by September, 20th. One CEO out and one in a story that has huge ramifications. Citigroup picking its president Jane Fraser as its next CEO, and that makes sure the first female CEO of a major Wall Street bank Fraser will succeed. Might Corbat who's retiring in February after more than eight years in the top job. Mike Mayo is managing director Wells Fargo Securities, telling Bloomberg that Fraser give Citigroup a fresh look. Change of Citigroup is good, and it's needed. Citigroup has improved over the last eight years under CEO my Corvette, but they still have worst in class efficiency. Returns and stock market valuation. So you've come a away but not as far as you need to go. In a sense, it's fresh because Frazer steps into that CEO job, but in a sense, well, she's been there 16 years. She led City group's response to the pandemic in North America, including its plans for returning workers to offices around the United States. The bank hopes that Fraser will improve returns that Trail leader. Industry leader JP Morgan Chase and Fraser also hails from the UK she Scottish Full sun Hung Kai Properties, the biggest developer in Hong Kong, has reported earnings set up 9% to nearly 29 billion Hong Kong dollars. This missed analyst's Estimates of 30.2 billion Hong Kong. Company, saying the results reflect the economic slowdown in the city. And they say that this was driven by the pandemic, rising trade tensions and the pro democracy protests. Sun Hung Kai said that future earnings around certain and it will depend on the development of the pandemic and easing of restrictions seeing shares down by that 9/10 of 1% on the open. Meantime, the exercise equipment company Pel Aton, has reported fourth quarter revenue that came in about $607 million. That was up 172% from a year earlier. Analysts were looking for 581 million. This is data compiled by Bloomberg. The rise in sales came from stay at home orders and Jim Closures. Has helped boost purchases of the company's bikes and treadmills. Pellet on stock, by the way was up more than 10% in after hours trading Helicon forecasting between 3.5 and 3.7 billion in revenue. For the fiscal year of 2021. That was well above Wall Street expectations, looking a little interesting in these markets now because you've got Hong Kong and China coming online and both of rising the Hank Sing up by about a third of 1% of the C s. I 300 also filmed by a third of 1%. We've been talking about the positive momentum in Japanese stocks. Today, the decay out 4/10 of 1% said. That kind of Changes the overall picture where we had been seeing weakness, and we still are saying weakness in the likes of the Cosby the Thai X, The 6 200. The 6 50 will also be closely watching what happens into Carter today. After that 5% drop as Indonesia announced a return to severe covert 19 restrictions in the capital city. We have seen a city that turning more cautious on the Rue Pierre after its recent underperformance, noting that confidence in the currency Has been weakened by shop blows from adverse news flow watching Rio Tinto shares in Sydney to following some kind of a guest shocking news for the market that CEO John Sebastian Jack will exit the minor. This is after investor pressure to step up his response to the destruction of ancient Aboriginal heritage sites in Australia. Shares have been fluctuating that down now down by about 1/10 of 1%. Japan's August producer. Prices fell half of 1% year on year two. A rating of 100.4 on looking at the commodities market. Crude is $37.28 spot Gold $1945 an ounce Brian Let's get some news. Tokyo is confirming that it's lowering its Corona virus alert level.

CEO Bloomberg Hong Kong Jane Fraser TIC Tac City group Hong Kong Trading Brian President Trump China Ikea Bloomberg News Juliette Solly Singapore Sun Hung Kai Scottish Full sun Hung Kai Pro Bulls Tokyo
"citigroup" Discussed on WZFG The Flag 1100AM

WZFG The Flag 1100AM

01:58 min | 1 year ago

"citigroup" Discussed on WZFG The Flag 1100AM

"Have been fired that from an attorney representing Floyd's family, who is apparently notified about the alleged to data breach by employees that include nurses, a lab tech, a social worker and a paramedic. Floyd died this spring following a police aroused in which an officer kneeled on his neck. Though the now former officer Derrick Show, Vin, who's charged with murder points to a medical examiner's report that shows that Floyd had heart disease and fentanyl and methamphetamine in his system. Jeff from and also Fox New Twitter, saying it will label or remove misinformation that Ames wonder mind confidence in the election, including post claiming victory before results have been certified. Last week. Facebook said it was creating a label for post by candidates or campaigns that make premature claims of victory, and it says he will not accept new political ads the week before Election Day. For the first time, a woman will head one of Wall Street's biggest banks gain. Fraser is taking over as CEO of Citigroup, the country's third largest bank, Michael Corbat, stepping down in February, Frazer's been with city for 16 years promoted last year, the head of its global consumer banking division that's checking and savings and credit card accounts. Corbat led Citigroup for eight years, helping to refocus the company into something smaller but stronger. After it's near collapse after the 2008 financial crisis. Chris Foster Fox News, The 19th anniversary of the 9 11 attacks is tomorrow There will be ceremonies in New York at the September 11th Memorial Plaza and the World Trade Center by its president, Mike Pence, is expected at both those President Trump and Democratic presidential nominee Joe Biden will be in Shanksville, Pennsylvania. The Pentagon is ceremony will be conducted without victims. Families in attendance due to the pandemic. I'm Lee Scylla. Sarah, This is news. Hughes. Your flag forecast tonight will continue to be a dry night here all across the area. Lower 42 not seeing a whole lot happening here for the first part of Friday, Sonny. But then we have a shower that moves in late in the day..

Floyd Citigroup officer Michael Corbat Jeff Hughes president Fraser Facebook attorney Lee Scylla Mike Pence Joe Biden September 11th Memorial Plaza Pentagon Derrick Show murder
Zoom stock surges, market value tops Boeing, Starbucks

South Florida's First News with Jimmy Cefalo

00:30 sec | 1 year 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 | 1 year 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 | 1 year 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 | 1 year 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 Squawk Pod

Squawk Pod

05:10 min | 1 year ago

"citigroup" Discussed on Squawk Pod

"This is squawk from CNBC. Today on the POD, we're continuing our ongoing conversation about systemic racial and economic inequality in the US and particularly the role of corporate leaders to actively undo it a narrow the opportunity gap. I caught up with Andrew Ross Sorkin.

Andrew Ross Sorkin CNBC US
"citigroup" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:41 min | 1 year ago

"citigroup" Discussed on Bloomberg Radio New York

"Continuing to go into the office Citigroup last month said roughly eighty percent of its employees around the world are doing their jobs remotely but Friday for Citigroup employees a lot of them will be able to take the day off recapping equities trading mixed with the S. and P. up seven up two tenths of one percent on Charlie pallets that is a Bloomberg business slash all right Charlie thank you so much you are listening to all of our business we got gassed at this hour's Dr Patrice Harris president of the American medical association joining us on the phone from Atlanta Hey I just want to Dr Harris if I may just one more question in terms of data collection because someone calling me out on Twitter and say wait a minute you ask you know as if the data collection from tech companies is a good thing and distant individuals as I disagree privacy is more important is not part of what's holding everything up is the privacy concerns which are which are important ones but I just do wonder if that's what's slowing down our ability to really get some standardized data collection when it comes to the virus you know I don't think it's necessarily slowing down progress on using technology but it is an important consideration I'm at the AMA we've been engaged to Egypt really what we call our privacy principles around data and so I I just don't think that integrating privacy and concerns about confidentiality should slow the process down the shooting form the process but not just for my viewing it doesn't necessarily have to slow the process down we'll just have to take that into consideration as we use data at U. technology not edible okay because you know contract contact tracing is not there right we've been using that in public health for some time technology has a role to play but you know we cannot forget the human connection even before Kobe nineteen we may be contacting someone letting them know that I'm not a great information from difficult information about integrating appropriately technology out with the human touch well in the human touch I I feel like is front of mind for people as they try and reopen we talked a little bit about that a few minutes ago Dr here's how much are you worried about a second wave of this hitting in the fall well I'm extremely worried here that's been the worry all along from the beginning I think we should remind everyone that one of the reasons that it might might turn our emergency medication where we really encourage everyone to shelter in place because as you recall we were worried about making decisions about who would get on I've been a lawyer if we did not have been a later so I think people forget that and so appropriately we are having conversations about loosening these restrictions but we have to make sure again that we are measured in our approach and if we happen to go slowly if there's a slight uptick we know that data and media at Lee and we can immediately reassess and re extract that matter how we should be moving forward loosening reassessing and reinvesting as necessary but it is scary when you see China doing another lockdown I think of more than a hundred million people in and I think specifically Wuhan so you know it's it's it isn't a clear straight path forward and that certainly is nerve wracking the other thing we're all trying to figure out treatments what did you make of the president coming out and saying that he is taking hydroxy Cllr queen and this is a drug I mean Amy has come out and and and actually cautioned against the use of some of these medicines including I believe this so what is your take away from that well here's where we stand at the AMA restarted began with the client back then as of today there is no accident that how drunk the Kool couldn't work either increase or in net prevention our cobit nineteen research trials are under way as we speak regarding how drunk the Clark we really need let the research we now know if necessary but what we do know now if the FDA has cost them against the new project the Cork went out by right of the HA fatti aware you can't be monitored we we came back to find from the evidence just got about thirty seconds is this complicate though AMA members doctors are out in the field when the president does this and maybe patients come to them I'm just curious what you're hearing you just quickly if you could okay well you know problem complicate you know positions I've always had here decision making without patient going over the risks and the benefits and we talk about the benefits even when they're life threatening so this is our usual course of work right will great to catch up with you we always appreciate your time Dr Patrice Harris president of the American medical association journeys on the phone from Atlanta and you know a clear take away there is the date of the consistency of data and the ability to really compare and contrast and and I was glad that doctors call back to our earlier conversation where she was talking about those under represented and over exposed it in many cases populations it really over indexing in some of the different socio economic sectors there so an important reminder they're much more ahead first let's get to.

Citigroup
"citigroup" Discussed on Biz Talk Radio

Biz Talk Radio

10:00 min | 1 year ago

"citigroup" Discussed on Biz Talk Radio

"Once again to investors at so let me let me just run through a few things for you just just for the heck of it Citigroup set forty eight dollars but no it's four dollars and eighty cents instead of one for ten reverse split behind city group two thousand and six five hundred and seventy forty eight and a half so the high was fifty seven back then still down the what ninety percent Citigroup was a must own stock background most of it city group it was a must own stock back into the year two thousand Intel own Intel for ever Intel's high was seventy two dollars in two thousand and sixteen today it bottom the third team you get where I'm going with this we're all conditioned because of central banks and wall street that we're always going to come back well markets may but doesn't mean individual names will and I can sit here for hours and just stock if the stock name after name you wouldn't believe some of the drops and some of the ways that I just mean the cruise lines and airlines and I have news for you the Watson the cruise line's full that there was a fireworks wasn't the airline's fault there was a virus but we're not here to have a popularity contest we're here to protect capital when need be enhanced Capital One possibly we want you to remember all these for the next time we go there while the Taylor down what are they down still a zillion percent I'm a tap in the best of the best doesn't have to be an airline or cruise line you know Philip Morris they sell cigarettes was one twenty three in two thousand seventeen seventy four today well who's buying cigarettes now I get we're just letting you know risk management failsafe just in case for the next time lessons and again I've been watching some people in there the same I said this and I said that but the real questions aren't being asked I can do on the way down how your position now anybody can say anything including us tomorrow is may there is an adage on Wall Street sell in may and go away now I do want to let you know there is validity noticed the big word too fast I don't have it handy I have it somewhere in the bowels of my office here that we do this radio show from at this juncture that if you didn't know what investing from may to September thirtieth and only invested from October April thirtieth you may resilient and protecting a ton it's true so will it happen again this year answer is don't know but we have it in our file manager understanding it and we'll be ready if it does simple as that and why do we think you got this sell in may and beats the hell out of me you know there's another part to the equation that I read and it's true and I have but also in my dungeon over here do you know all the money that has been made on Wall Street for the last twenty years this happened overnight no really it's true market if you bought the clothes every day and sold at the open everyday of course that's not a lot of trade and but this is true these are the little things we make note of the our only one thought is just to continue to watch interpret what's in front of us because they've been plenty of times where may June July August were very strong and we don't know what's up going into may we're over bought here eighty percent of the market still crappy even though we think the bottom near term there is very little in the way of big leadership handful of strong names and of course fundamentals quite the interesting but let's keep note of sell in may and go away after we've had this rally up in Wilson we won't we'll know pretty in short order not hard to figure out Dow down three twenty one S. and P. thirty two nasdaq fifty six nasdaq one hundred twenty nine Facebook still up ten Tesla is now down eight somebody came out and stated that just a little bit ago their accounting is a bunch of bull blank and just so you know Tesla the high today was seventy as I speak it seven hundred and ninety today don't show love markets we didn't buy into anything gapping to the upside today but we be watching and I'm not thrilled listen carefully I am less than thrilled that a Google in a MasterCard gapped up yesterday in getting sold into today less than thrilled the Tesla gaps up getting sold into today Microsoft gaps up its still up today but being sold down not sure what all that means except the Sandler selling today what if we don't get open so soon let's talk negative for a second what if we start opening and the virus to start picking up nothing good and that's out there that's something that has to be considered people that are telling us we're gonna skyrocket in the second half did not see the drop so we don't listen to anything they have to say and just remember the war to gender is out there we'll keep our fingers crossed because I got news for you we cannot go another three months like we have been and while I'm hopeful also have to worry that we're jumping the gun with some things but here in Florida they're opening up restaurants twenty five percent capacity not yet opening up gyms and not opening day Broward and Palm Beach yet because that's the most affected areas so I do believe that most of being careful in doing this slowly but I must tell you three months from now we better be open more.

Citigroup
"citigroup" Discussed on Biz Talk Radio

Biz Talk Radio

10:00 min | 1 year ago

"citigroup" Discussed on Biz Talk Radio

"Once again to investors at so let me let me just run through a few things for you just just for the heck of it Citigroup set forty eight dollars but no it's four dollars and eighty cents of that a one for ten reverse split behind city group two thousand and six five hundred and seventy forty eight and a half so the high was fifty seven back then still down the what ninety percent Citigroup was a must own stock background Moscow Citigroup you don't was a must own stock back into the year two thousand Intel own Intel for ever Intel's high was seventy two dollars in two thousand and sixteen today it bottom the third team we're all conditioned because of central banks and wall street that we're always gonna come back well markets may but doesn't mean individual names will and I can sit here for hours and just stock if the stock name after name you wouldn't believe some of the drops and some of the ways that I just need the cruise lines and airlines and I have news via the wasn't the cruise line's full that there was a fireworks wasn't the airline's fault there was a virus but we're not here to have a popularity contest we're here to protect capital when need be enhanced capital when possibly we want you to remember all these for the next time we go there while the Taylor down what are they down still a zillion percent I'm a tap in the best of the best doesn't have to be an airline or cruise line you know Philip Morris they sell cigarettes was one twenty three in two thousand seventeen seventy four today well who's buying cigarettes now I get we're just letting you know risk management fail safe just in case for the next time less and again I've been watching some people in there B. S. saying I said this and I said that but the real questions aren't being answered I can do on the way down how your position now anybody can say anything including us tomorrow is may there is an adage on Wall Street sell in may and go away now I do want to let you know there is validity notice the big word to that I don't have it handy I have it somewhere in the bowels of my office here that we do this radio show from at this juncture that if you didn't know what investing from may to September thirtieth and only invested from October April thirtieth you may resilient and protecting a ton it's true so will it happen again this year answer is don't know but we have it in our file manager understanding it and we'll be ready if it does simple as that and why don't we think you got this sell in may and beat the hell out of me you know there's another part to the equation that I read and it's true and I have it also in my dungeon over here do you know all the money that has been made on Wall Street for the last twenty years this happened overnight no really it's true market if you bought it the clothes every day and sold at the open everyday of course that's a whole lot of trading but this is true these are the little things we make note of dole our only one thought is just to continue to watch interpret what's in front of us because they've been plenty of times where may June July August were very strong and we don't know what's up going into may what over bought here eighty percent of the market still crappy even though we think the bottom near term there is very little in the way of big leadership handful of strong names and of course fundamentals quite the interesting but let's keep note of sell in may and go away after we've had this rally up in Wilson we won't we'll know pretty in short order not hard to figure out Dow down three twenty one S. and P. thirty two nasdaq fifty six nasdaq one hundred twenty nine Facebook still up ten Tesla is now down eight somebody came out and faded and just a little bit ago their accounting is a bunch of bull blank and just so you know Tesla the high today was seventy as I speak it's seven hundred and ninety today don't show love markets we didn't buy into anything gapping to the upside today but we be watching and I'm not thrilled listen carefully I am less than thrilled that a grueling a MasterCard gapped up yesterday in getting sold into today less than thrilled the Tesla gaps up getting sold into today Microsoft gaps up its still up today but being sold down not sure what all that means except the Sandler selling today what if we don't get open so soon let's talk negative for a second what if we start opening and the viruses start picking up nothing good and that's out there that's something that has to be considered people that are telling us we're going to skyrocket in the second half did not see the drop so we don't listen to anything they have to say and just remember the war to gender is out there we'll keep our fingers crossed because I got news for you we cannot go another three months like we have been and while I'm hopeful also have to worry that we're jumping the gun with some things but here in Florida they're opening up restaurants twenty five percent capacity not yet opening up gyms and not opening date Broward and Palm Beach yet because that's the most affected areas so I do believe that most of being careful in doing this slowly but I must tell you three months from now we better be open more.

Citigroup
"citigroup" Discussed on Biz Talk Radio

Biz Talk Radio

08:30 min | 1 year ago

"citigroup" Discussed on Biz Talk Radio

"Once again to investors at so let me let me just run through a few things for you just just for the heck of it Citigroup set forty eight dollars but no it's four dollars and eighty cents of that a one for ten reverse split behind city group two thousand and six five hundred and seventy two forty eight and a half so the high was fifty seven back then still down the what ninety percent Citigroup was a must own stock back then most of it city group it was a must own stock back into the year two thousand Intel own Intel for ever Intel's high was seventy two dollars in two thousand and sixty today it bottom the third team you get where I'm going with this we're all conditioned because of central banks and wall street that we're always going to come back well markets may but doesn't mean individual names will and I can sit here for hours and just stock if the stock name after name you wouldn't believe some of the drops and some of the ways that I just need the cruise lines and airlines and I have news for you the Watson the cruise line's full but there was a fireworks wasn't the airline's fault there was a virus but we're not here to have a popularity contest we're here to protect capital when need be enhanced capital when possibly we want you to remember all these for the next time we go there while the filler down what are they down still a zillion percent I'm a tap in the best of the best doesn't have to be an airline or cruise line you know Philip Morris they sell cigarettes was one twenty three in two thousand seventeen seventy four today well who's buying cigarettes now I get we're just letting you know risk management fail safe just in case for the next time less and again I've been watching some people in there B. S. thing I said this and I said that but the real questions aren't being asked I can do on the way down how your position now anybody can say anything including us tomorrow is may there is an adage on Wall Street sell in may and go away now I do want to let you know there is validity noticed the big ward too fast I don't have it handy I have it somewhere in the bowels of my office here that we do this radio show from at this juncture that if you didn't know what investing from may to September thirtieth and only invested from October to April thirtieth you may resilient and protecting a ton it's true so will it happen again this year answer is don't know but we have it in our file manager understanding it and we'll be ready if it starts simple as that and why do we think you got the sell in may and beats the hell out of me you know there's another part to the equation that I read and it's true and I have it also in my dungeon over here do you know all the money that has been made on Wall Street for the last twenty years this happened overnight no really it's true market if you bought it the clothes every day and sold at the open everyday of course that's a whole lot of trade and but this is true these are the little things we make note of the our only one thought is just to continue to watch interpret what's in front of us because they've been plenty of times where may June July August were very strong and we don't know what's up going into may what over bought here eighty percent of the market still crappy even though we think the bottom near term there is very little in the way of big leadership handful of strong names and of course fundamentals quite the interesting but let's keep note of sell in may and go away after we've had this rally up in Wilson we won't we'll know pretty in short order not hard to figure out Dow down three twenty one S. and P. thirty two nasdaq fifty six nasdaq one hundred twenty nine Facebook still up ten Tesla is now down eight somebody came out and faded and just a little bit ago their accounting is a bunch of bull blank and just so you know Tesla the high today was seventy as I speak it's seven hundred and ninety today thanks a lot of markets we didn't buy into anything gapping to the upside today but we be watching and I'm not thrilled listen carefully I am less than thrilled that a Google in a MasterCard gapped up yesterday in getting sold into today less than thrilled the Tesla gaps up getting sold into today Microsoft gaps up its still up today but being sold down not sure what all that means except the Sandler selling today what if we don't.

Citigroup
"citigroup" Discussed on NewsRadio WIOD

NewsRadio WIOD

03:31 min | 1 year ago

"citigroup" Discussed on NewsRadio WIOD

"Jamie Dimon Goldman Sachs Citigroup Wells Fargo US Bancorp Morgan Stanley James Gorman grand rapids State Bank southern Bancorp holds great institutions with lots to say and lots of good ideas and if you look at how paycheck has been working out the numbers are incredible and I hope Congress is going to be able to supplement the amount of money going to our workers I hope they're able to get that done very quickly because it's been an incredible success and many are already spending that money on the money's been distributed ID numbers that nobody believed possible for the short period of time was only a week ago but a lot of money has been distributed already it's going to keep our small businesses open the construction labor work force International Union of operating engineers Jim Callahan North America building trade union Sean McGarvey is a lot of friends of mine labors International Union of North America Terry o'sullivan international brotherhood of teamsters James Hoffa national electrical contractors association David long back tell floor national association of home builders association of builders and contractors associated general contractors Richard Trumka AFL-CIO G. H. Palmer so these are some of the unions pretty much yeah almost all of the ones that will be on the line in defence with Lockheed Martin Honeywell Northrop Grumman these are all the top of each company CEOs chairman's presidents Raytheon General Dynamics energy we had a tremendous success recently with energy over the weekend to finish with the tremendous credit going to Russia and Saudi Arabia and it could be as much as twenty million barrels a day a cut so that we can get rid of some of the tremendous excess oil that's been produced because of the fact that the virus just knocked out almost fifty percent of the business it's been an amazing achievement some people say one of the biggest oil deals ever made maybe the biggest oil deal ever made this and I didn't know that but we were involved in getting that done and it was very important to save hundreds of thousands of jobs for energy industry Texas and North Dakota Oklahoma all of our different energy states it's great so we're very happy about I want to thank everybody we had the it's called OPEC plus that's OPEC plus meaning some nations outside of OPEC and I also want to thank the president of Mexico because he was he was terrific he showed great dexterity and flexibility and getting the deal done we want to thank him very much on the energy front we had Exxon Mobil continental resources chevron southern company Alabama power Kanako Phillips Occidental petroleum kinder Morgan has corporation group and few others big ones great ones financial services we have Blackstone's Stephen Schwarzman.

David long Goldman Sachs Citigroup Wells Morgan Stanley James Gorman International Union of operati Jim Callahan America International Union of North A Terry o'sullivan James Hoffa Jamie Dimon floor national association of Richard Trumka Raytheon General Dynamics North Dakota Exxon Mobil Alabama Kanako Phillips Occidental pet Congress
"citigroup" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:20 min | 1 year ago

"citigroup" Discussed on Bloomberg Radio New York

"Of nine and again this is one of five point seven seven the move by the fed to raise has banks plunging this morning Citigroup for example down more than eighteen percent in early trading and that's a Bloomberg business slash John and Lisa thank you thank you very much this pickup what count left off Chevrolet said the banks just getting hammered to sick bank America down by seventeen percent in early trading the S. and P. five hundred spidery TF that itself by ten percentage points at least for now you look at some of the credit ETFs out there as well in any training pointed to more losses in more pain in the credits vice I'm looking right now as futures trading for each why G. which is the biggest high yield bond ETF down four point two percent probably more alarming L. QD investment grade bond index is C. at the AT T. F. there down in premarket trading four point six percent unbelievable some unbelievable moves and we still haven't taken out the whites of spreads that we had back in fifteen sixty on high yield police I think what is interesting and you not discuss this it's the speed of the motive the pace of the move in the last couple of weeks to see this kind of spread one thing that we have done of it is the spice of full five days has been quite remarkable that's the credit side and certainly the stock side is also looking at the credit side and punishing disproportionately the companies that have a lot of debt because they are worried about being able to refinance credit very much in the driving seat at the moment let's forget my Wilson shall wait a Guiding Light the times like this the team at Morgan Stanley the chief US equity strategist joins us on the phone now my friends has to have you with us your cold your message your clients on a morning like this morning well first of all make use you know happening in financial markets and I think for good reason I mean there's a health crisis and scare and I think I want to disperse start by saying we're talking about financial markets but you know there is a health issue so we wanna make sure we're sensitive to that and all of our commentary because it is a personal tragedy in some cases so let's let's focus on what the market is already been telling us for quite a while and we think this is was kind or if you might be a little bit different in others is that we we think we were heading towards kind of a recession anyways we clearly had had no idea that a virus or you know a price shock was going to be the final kind of thing that tips us over but there's always something inside that we are you know heading towards recession probably totally you S. as well and in the markets are quickly discounting that by the way when letter that was being discounted meals several months ago so that it's just been that's why it's been so violent and we're going to some very interesting price levels for for assets that you know for longer term investors are attractive and and we will get through this you know we we think that you know obviously the actions last night you know people are disappointed perhaps the fed candidate with the reality is that they can't do anything about the virus right so they're gonna do they can which is provide liquidity to markets they function and then when we can get past this and look forward again into the recovery then he'll likely will be in place and then we can stabilize and move forward so this is a time for clients to internet dating rash right is time for for people to sell everything a panic we've we've already had opened a twenty seven percent decline in a straight line and so that's pretty much a waterfall decline to having other waterfall decline on top of that would be historically unprecedented even in you know and the twenties and thirties nineteen eighty seven areas like that usually get some relief okay so we we are expecting at some point in two days I'm focused on right now tell me that maybe the worst is getting behind us is the treasury market which is has been the Guiding Light the towers all along that growth was continuing to slow and I think it's interesting that's not it means no guarantee but it's interesting that treasury yields are not making the laws ended that make the lows last week either in a later in the week when things really kind of came apart so I think that's important I will continue to watch that also tell me that the treasury market functioning which is important and that's within a page concerning an issue but we're gonna need more physical and I think that's the other thing I'm really watching is how more how much more aggressive can politicians get in the short term to it to indicate that they are gonna do more fiscal policy because monetary can't do this on its own last week you told myself and John and Tom that this was a time to start adding back risks that this is actually potentially a buying opportunity Goldman Sachs is David Kostin came out over the weekend with reports saying that the S. and P. five hundred could fall another twenty six percent from Friday's close to two thousand if the economic fallout from the coronavirus deepens why do you not think that's the case it's always a possibility of course it's a possibility right but you know it it we we think that we would have been a little different perhaps and some others is it we think this correction that we're going to right now is part of a bear market that began two years ago right if you're if you're really objective about what's been going on the average stock in the adverse market has really gone nowhere for two years and this is kind of a finishing move is ending in a recession that's the way it typically works and we have to we have to get into that recession and people have to acknowledge that but you can't tell me that you know markets haven't been discounting a premium for slow down now for the past couple years that's why we've been training very defensively that's why treasuries are already you know at record low levels even before the virus hit and before to a price decline Jimmy we've we've had signals all along and so telling folks is it this is how I think this is how moves kind of finish okay the time to get really defensive was two years ago in terms of like being overweight traders being overweight defensive areas and whatnot and those and those types of strategies have worked extraordinarily well over the last two years and soon if you were set up that way now is the time to start thinking about re risking understanding that it's going to be extraordinarily volatile in the next month or two is going to be extraordinarily would be extraordinarily dangerous to be treating **** our advising people to do but if you're in a diversified portfolio and you've had some defensive the securities you probably actually done okay over this period diesel through stuff appreciate your time this morning and wishing the best to your team in those moments sandy as well Mike Wilson at Morgan Stanley chief US equity strategist remarkable to me over the last couple of weeks discussing up with some pretty level headed people Lisa like I should just in front of a large fence thing that was speak to in a little bit have actually been increasingly worried about this moment that we're going into the mother becoming and see what we have no real clarity on what this is going to look like the remainder of the year what I found interesting over the last couple of weeks is that we spent a lot of time debating what the scope and severity of this public health crisis will be and now it's time to think about longevity because I think many many people just thought couple months maison I'm not sure people on that side of things at the moment in fact I think it's even more uncertainty that even from public health officials over the last couple of weeks I'll just say I got a number of emoji is of blacks ones and puking faces last night from you know you can get an emoji of blacks once I'd like to do now that was available equity futures limit down the S. and P..

Citigroup John Chevrolet Bloomberg Lisa
"citigroup" Discussed on News Radio 1190 KEX

News Radio 1190 KEX

06:18 min | 3 years ago

"citigroup" Discussed on News Radio 1190 KEX

"Reuters headlines CitiGroup group sees two billion dollars more revenue from lending in two thousand nine and shares rise CitiGroup Inc. Said it would earn two billion more in revenue from its lending activities this year than in two thousand eighteen as it reported better than. Expected fourth-quarter earnings sending its shares more than four percent higher. Chief financial officer, John gir- spach pointed to growing revenue from its consumer banking business and a reduced government surcharge for deposit insurance as drivers for net interest income this year. More broadly, the US economy remained, strong and global economies are doing well. He said he noted that slower economic growth in China was not hurting the bank's operation he said on an earnings. Call quote, take a look at the US unemployment at the US unemployment is at virtually all time lows wages are moving forward. Consumer confidence remains high folks we are in the middle of an economic boom. And seemingly nobody is talking about it. If Barack Obama had witnessed this level of success mustache had witnessed this level of success. And if he'd had policies that could have created this level of success. They would have made him emperor for life. Now. To the Mueller investigation two years on. And what do we have? Well, let's start with Jonathan Karl. I will remind you that the president humiliated him last week. He is not a Donald Trump supporter. He's talking to George Stephanopoulos. And he basically admits that the Mueller investigation report is going to be anticlimactic climax climatic tick. But he says climatic which still bothers me climatic refers to long-term weather trends, but any case try not to let that bother you. And listen to the thrust of what he's saying what I am getting is that this is all building up to the Muller report and raising expectations of a bombshell report and there've been expectations that have been building, of course for over a year on this. But people who are closest to what has been doing of interacted with a special counsel caution me this report is almost certain to be anti climatic that if you look at what the FBI was investigating in that New York Times report look at what they were investigating Muller to not go anywhere with that investigation. He's been writing his report in real time through these indictments, and we have seen nothing from Muller on the central question of was there any coordination collusion with the Russians in the effort to meddle in the elections. Or was there even any knowledge on the part of the president or anybody in his campaign with what the? The Russians were. There was a major article or an article with a major revelation that came out on Friday. The Wall Street Journal the New York Times on Friday. We're going to get to that article because it's incredibly important. But before we do that, let's play the what if game I think it's very important. When you're having a discussion about policy to understand. That often you're not arguing over the thing. You're arguing about let's play the what if game with regard to the border last week Nancy Pelosi. In a meeting with the president. Said that a wall would not be effective because the illegal alien community through their traffickers their coyotes simply build tunnels. So her argument against the wall, building more of the wall authorizing money for more of the wall. Her argument was not that she doesn't want the wall because her supporters don't want the wall. Her argument was I don't wanna waste money because it wouldn't be efficient. I don't want to spend money on something that won't actually work. And I don't believe the wall would work. Well, that's awkward for Chuck Schumer who's in the room because in two thousand nine he said the wall does work and that we should build more of it. Of course, Barack Obama was president. Now, did the illegal aliens become incredibly efficient? In the meantime, did they become incredibly successful at avoiding the wall such that all of a sudden the same wall that was good enough before won't work. I really don't think. That's what happened. I really don't think there's anybody out there that would make that argument. And when you talk about waste of money. I got a report today it being the twenty four day of the shutdown independent. Researchers have highlighted some of the things they're willing to fund before they spend five billion dollars on border security three million dollars for world of warcraft tax-funded UC Irvine researcher screen time eight hundred thousand dollars studying significance of genital washing two and a half million dollars on a Super Bowl commercial. That was so terribly produced that it was banned after it. Aired a million dollars on zoo poetry. By creating poetry and four different zoos. They they thought they hoped to quote increase environmental awareness, one hundred seventy five million dollars on buildings that have been vacant for years seven hundred sixty five thousand eight hundred twenty eight dollars on pancakes tax dollars, subsidized an I hop in an underserved area of DC. They took your federal tax dollars and subsidize an.

president US Barack Obama Mueller Muller The Wall Street Journal New York Times Reuters China CitiGroup CitiGroup Inc George Stephanopoulos Chief financial officer Donald Trump Jonathan Karl John gir Chuck Schumer Nancy Pelosi FBI