Citigroup Slips To Loss In Q4, But Adj. EPS Tops Estimates

Citi To Cut Around 3,500 Tech Jobs In China Under Global Restructuring

Banking major Citigroup Inc. announced plans to reduce around 3,500 technology in China as part of its ongoing broader initiative to streamline global tech operations, reports said. With the planned resturcturing, the lender aims to strengthen risk and data management frameworks. The planned results will be at its two major China-based technology centers in Shanghai and Dalian.

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Citigroup Fined $136 Mln Over Internal Control Issues

Government regulators have issued around $135.6 million fine in separate but related actions against Citigroup Inc. for failing to resolve longstanding internal control and risk issues. The Federal Reserve Board has fined the banking major $60.6 million for violating the Board's 2020 enforcement action. In a related activity, the Office of the Comptroller of the Currency or OCC amended its 2020...

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Citigroup Sees $170 Mln In Costs Over Next 18 Months On Russia Exit

Citigroup Inc. (C) announced Thursday that it has decided to wind down its consumer banking and local commercial banking operations in Russia.

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European Stocks Close Mostly Higher On Earnings, Fed Rate Cut Hopes

European stocks closed mostly higher on Wednesday, thanks largely to some strong corporate earnings updates, and expectations of an interest rate reduction by the Federal Reserve in September.

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Canadian Stocks Surge Higher Again; TSX Scales New Record High

Canadian stocks are up firmly in positive territory on Wednesday, and the benchmark S&P/TSX Composite Index stays high up after hitting a fresh record. Rising optimism about a rate cut by the Federal Reserve in September, firm oil prices and some upbeat corporate earnings announcements are contributing to the positive mood in the market.

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India Holds Key Interest Rates Steady As Trade Tensions Escalate

The Reserve Bank of India left its key interest rates unchanged on Wednesday after an aggressive cut in June as the economy faces another threat from the US due to its Russian oil imports. The RBI Monetary Policy Committee, led by Governor Sanjay Malhotra, unanimously decided to hold the policy repo rate at 5.50 percent. The bank had reduced the rate by 50 basis points in June.

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Bay Street Looks Set To Extend Upmove

Canadian shares look headed for a positive start on Wednesday, riding on some impressive corporate earnings updates, and higher oil prices. The focus will also be on the developments on the trade front.

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Eurozone Retail Sales Recover In June

Euro area retail sales rebounded in June suggesting that household spending likely supported economic growth in the second quarter, official data revealed on Wednesday. Retail sales grew 0.3 percent on a monthly basis in June, offsetting May's 0.3 percent decline, Eurostat said. However, this was marginally weaker than economists' forecast for a 0.4 percent increase.

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EURUSD	1.16506	GBPUSD	1.33557	AUDUSD	0.65042
USDJPY	147.236	USDCAD	1.37389	USDCHF	0.80688

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Citigroup Slips To Loss In Q4, But Adj. EPS Tops Estimates