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Goldman Sachs' earnings fall 11 per cent as bond trading slumps; bank still beats expectations

NEW YORK, N.Y. - Goldman Sachs' earnings fell in the first quarter as bond trading slumped, but the results still came in ahead of what investors expected as other parts of the bank performed well. EARNINGS AND REVENUE: The bank earned $1.95 billion in the quarter, down 11 per cent from $2.19 billion in the same period a year earlier. The earnings were equivalent to $4.02 a share, compared with $4.29 in the first quarter of 2013. Revenue totalled $9.33 billion, down 8 per cent from $10.09 billion a year earlier.

Citi received mixed signals from the Fed on 'stress test': WSJ

(Reuters) - The Federal Reserve indicated to Citigroup Inc that the bank would get more time to fix certain "stress test" planning problems before rejecting its capital plan last month, the Wall Street Journal reported, citing people close to the company. The Fed had agreed to give Citigroup a 2015 deadline to address a series of shortcomings identified by the regulator in the wake of the 2013 test, the report said. (http://r.reuters.com/tyz58v)

Danske Bank fined by Nasdaq OMX over AstraZeneca share trading

(Reuters) - The Nasdaq OMX stock exchange in Stockholm has fined Danske Bank <DANSKE.CO> 500,000 Swedish crowns ($76,100) for breaching trading rules in a placing of orders for shares in drugs company AstraZeneca <AZN.L>, it said on Wednesday. The market's disciplinary committee accused the bank of having placed orders for shares in AstraZeneca (AZN) that were not intended to result in trades but to send signals to other market participants.

Citi profits rise as it seeks to recover from stumbles

Citigroup Monday reported slightly higher quarterly earnings on lower expenses and better credit quality as it faced questions over its capital planning and financial controls following recent stumbles. The banking giant, facing scrutiny over a fraud problem unearthed in Mexico and the failure of its Federal Reserve "stress" test in the US, said net income for the first quarter was $3.9 billion, up 3.5 percent from the year-ago figure of $3.8 billion. "Despite a quarter that was difficult for our company, we delivered strong results," said chief executive Michael Corbat.

US stocks jump on good retail sales, Citigroup profits

Wall Street stocks Monday opened decisively higher following a big jump in US retail sales and a better-than-expected earnings report from Citigroup. Five minutes into trade, the Dow Jones Industrial Average advanced 83.52 points (0.52 percent) to 16,110.27 The broad-based S&P 500 rose 12.74 (0.70 percent) to 1,828.43, while the tech-rich Nasdaq Composite Index jumped 35.58 (0.89 percent) to 4,035.31. The early gains came on the heels of deep losses in the stock market Thursday and Friday.

DoJ probes Citigroup unit over suspicious transactions: WSJ

(Reuters) - The Justice Department is investigating whether a Citigroup Inc <C.N> unit in California failed to alert the government about suspicious banking transactions along the U.S.-Mexico border, the Wall Street Journal reported, citing people familiar with the matter. U.S. prosecutors want to know why Citigroup did not submit so-called suspicious-activity reports flagging the questionable transactions that in some cases involved suspected drug-cartel members, the newspaper said. (http://r.reuters.com/cur48v)

Client data leaked at Citibank, Standard Chartered

SEOUL, April 10 (Yonhap) - Another data breach in South Korea has occurred at two foreign banks, with some of the leaked client information being circulated, financial authorities said Thursday. According to the authorities, data involving some 50,000 clients have been stolen from Citibank Korea Inc. and Standard Chartered Bank Korea. In December, personal data of some 130,000 customers of the two banks were also found to have been leaked.

Citibank Korea to downsize branches

SEOUL, April 8 (Yonhap) -- Citibank Korea Inc., the South Korean unit of U.S.-based Citigroup Inc., said Tuesday that it plans to close or consolidate its branches operating across the country by 30 percent, a move seen to help beef up its falling profitability. The lender said the number of its branches will be reduced to 134 from 190. It also said it will focus on wealthy customers in Seoul and other major cities such as Busan, denying rumors that it would pull out of the country.

Citigroup names McQuade to lead new Fed application: memo

NEW YORK (Reuters) - Citigroup Inc <C.N> said on Thursday that Gene McQuade, a bank executive who was retiring to become a director, will lead a new push to win permission from the Federal Reserve to pay higher dividends and buy back stock. The announcement came in a memo to employees from CEO Mike Corbat. Corbat said the Fed's rejection last week of Citigroup's plan to distribute capital "is a call to action for our firm."

N.Y. regulators say MetLife to pay $60 million for violations

By Karen Freifeld NEW YORK (Reuters) - Insurer MetLife will pay $60 million because two subsidiaries solicited insurance business in New York without a license, New York authorities said on Monday. Investigations by the state's Department of Financial Services and the Manhattan District Attorney's Office found that MetLife subsidiaries ALICO and DelAm, bought from AIG in 2010, misrepresented their business activities to regulators.
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