Tag: Citigroup

• Thursday, October 29th 2020 - 09:20 UTC

  Major US funds involved in Amazon degradation and indigenous rights violations, claim environmental groups

  

  Major US financial firms are helping fund environmental destruction and indigenous rights abuses in the Amazon with billions of dollars in investments in questionable companies, according to a report published on Tuesday.

• Wednesday, August 19th 2020 - 08:46 UTC

  Citigroup with a record clerical error of US$ 900 million; a beneficiary refuses to hand back US$ 175 million

  

  Citigroup asked a US judge on Tuesday to freeze funds it mistakenly sent Revlon Inc creditors amid a lawsuit over one of the largest clerical errors by a bank in years. Last week, Citi repaid a nearly US$900 million loan made to Revlon, a day after lenders sued the cosmetic company over its restructuring tactics, but the repayment was made in error.

• Friday, May 17th 2019 - 08:14 UTC

  EC fines five leading global banks €1.07bn for rigging foreign exchange markets

  

  Five banks have been fined €1.07bn (£935m) by the European Commission after traders clubbed together to rig the foreign exchange market. Four banks in the “Banana Split” cartel - Barclays, RBS, Citigroup and JP Morgan - were fined €811m in all.

• Thursday, March 21st 2019 - 09:45 UTC

  Citigroup plans to sell US$ 1.6bn of Venezuelan gold held on collateral

  

  Citigroup Inc plans to sell several tons of gold placed as collateral by Venezuela’s central bank on a US$ 1.6 billion loan after the deadline for repurchasing them expired this month, sources said Reuters, a setback for President Nicolas Maduro’s efforts to hold onto the country’s fast-shrinking reserves.

• Tuesday, February 19th 2019 - 08:33 UTC

  Citigroup poised to boost revenue as advisor of Brazilian public asset sales

  

  Citigroup Inc expects to boost annual revenue in Brazil over the next years by advising potential public asset sales and through a revival in capital markets, its chief executive officer in Brazil told journalists on Monday. Marcelo Marangon said Citi expects its annual revenue in Brazil to grow to US$1.5 billion from US$1.1 billion over the next years. He did not specify a timeframe for the goal.

• Wednesday, January 30th 2019 - 09:33 UTC

  Ecuador issues 10-year sovereign bonds at 10.75% yield

  

  Ecuador’s finance ministry said it had placed about US$1 billion in 10-year sovereign bonds in the international market. Proceeds from the 10.75% bonds will be used to strengthen the country’s reserves and help fund this year’s budget which has financing needs of about US$ 8 billion, the ministry said in a statement.

• Monday, February 5th 2018 - 09:02 UTC

  Scotiabank takes over Citi´s consumer and small business operations in Colombia

  

  Citibank has sold its Colombian consumer and small business operations to Banco Colpatria Multibanca Colpatria S.A, the Colombian subsidiary of leading Canadian financial institution Scotiabank. Citibank operations in Colombia include 500,000 customers, 47 branches, and 424 self-service access points in Colombia. The deal also includes “assumption by Banco Colpatria of Citibank’s workforce,” according to Scotiabank.

• Friday, October 13th 2017 - 12:52 UTC

  HSBC names John Flint as next CEO; JP Morgan Chase and Citigroup profits up

  

  Banking giant HSBC has named John Flint, current head of retail banking and wealth management, as its new boss. Mr Flint, who takes over from outgoing chief executive Stuart Gulliver, will start his new role next February.

• Thursday, May 21st 2015 - 07:08 UTC

  Five world leading banks fined 5.7bn dollars for manipulating foreign exchange markets

  

  Five of the world's largest banks are to pay fines totaling $5.7bn for charges including manipulating the foreign exchange market. Four of the banks - JPMorgan, Barclays, Citigroup and RBS - have agreed to plead guilty to US criminal charges, while the fifth, UBS from Switzerland will plead guilty to rigging benchmark interest rates.

• Friday, March 27th 2015 - 08:46 UTC

  European clearing houses close trading bridges on Argentine law bonds

  

  Clearing houses Euroclear and Clearstream have closed trading bridges on some 9.4 billion of Argentine bonds issued under the country's law. The action will prevent Euroclear customers from settling their trades with Clearstream clients and vice versa, but will not affect trading between customers belonging to the same clearing company, the same source said.