Citigroup plans to cut 20,000 jobs globally by 2026
15 Jan 2024
US banking and financial services giant Citigroup is planning to lay off 20,000 of its workforce - roughly 8 per cent of its 239,000 global headcount by 2026, as part of a mega restructuring.
Citigroup CFO reveals $1 billion cost for massive restructuring
07 Dec 2023
Mark Mason, Chief Financial Officer of Citigroup, disclosed that the bank’s extensive restructuring is expected to incur charges of approximately $1 billion for restructuring and severance.
Citigroup considers significant job cuts in its ongoing CEO-backed restructuring
07 Nov 2023
Citigroup's top management, working under CEO Jane Fraser's reorganization initiative, has reportedly contemplated job cuts of at least 10% in key business segments.
Woman at the Helm of Financial Powerhouse Citi
24 Sep 2020
Jane Fraser has been elected to the board of directors of Citigroup, and will take over from Corbat when he retires from Citi and steps down from its board of directors in February 2021
Jane Fraser named first woman CEO of Citigroup
14 Sep 2020
Fraser, currently Citi’s president and CEO of global consumer banking, will succeed Corbat as CEO in February, and she has been elected to the board of directors, with service beginning immediately
Citi MD Ashish Mehrotra appointed MD & CEO, Max Bupa
18 Nov 2015
Citibank managing director and retail head Ashish Mehrotra will take over as Max Bupa Health Insurance's managing director and CEO
China’s woes could trigger global recession, warns Citi economist
10 Sep 2015
A `hard landing’ by the slowing Chinese economy and a downturn in the commodity markets combined with the US Federal Reserve’s move to push up interest rates could plunge the world economy into recession in the next two years
Citibank fined $700 mn over illegal credit card practices
23 Jul 2015
The regulators’ investigations revealed that Citibank marketed these products deceptively to consumers who did not realise they were both applying for credit card and purchasing debt-protection coverage
Citigroup may plead guilty in rate-rigging case
12 May 2015
Citigroup Inc, the third-largest bank in the United States, said in a filing on Monday it could plead guilty to charges of rigging foreign currency markets to make quick profits
Citi to settle US mortgage scam probe for $7 bn
14 Jul 2014
Citigroup is the second major bank to settle charges over the sale and packaging of toxic home loans, after JPMorgan Chase & Co
Citigroup, BofA likely to face US Justice Dept lawsuits
14 Jun 2014
The US Justice Department mulls lawsuits against the Citigroup and Bank of America over their sale of residential mortgage-backed securities after settlement talks broke down this week
Citigroup to pay $1.13 bn to settle residential mortgage claims
08 Apr 2014
The settlement offer would relieve Citi from having to buy back mortgages sold to the trusts, but would not cover home loans sold through private-label securitisation trusts by Citi's consumer mortgage business
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
What is a Ponzi scheme?
By Aniket Gupta | 06 Dec 2023
Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation