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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)

European stocks drift lower in opening deals

Europe's main stock markets fell in initial deals on Tuesday, with London's benchmark FTSE 100 index down by just 0.08 percent at 6,578.54 points. Frankfurt's DAX 30 slid 0.15 percent to 9,324.84 points, and in Paris the CAC 40 index also shed 0.08 percent to stand at 4,380.87. All three indices had rebounded slightly on Monday, recouping earlier losses as positive US economic data over-rode concerns about Ukraine. Wall Street also rose decisively overnight after encouraging retail sales data and solid Citigroup results, rebounding from deep losses late last week.

European stocks drift lower in opening deals

Europe's main stock markets fell in initial deals on Tuesday, with London's benchmark FTSE 100 index down by just 0.08 percent at 6,578.54 points. Frankfurt's DAX 30 slid 0.15 percent to 9,324.84 points, and in Paris the CAC 40 index also shed 0.08 percent to stand at 4,380.87. All three indices had rebounded slightly on Monday, recouping earlier losses as positive US economic data over-rode concerns about Ukraine. Wall Street also rose decisively overnight after encouraging retail sales data and solid Citigroup results, rebounding from deep losses late last week.

US stocks rise on Citi earnings, retail sales

US stocks rose decisively Monday after a solid earnings report from Citigroup and encouraging retail sales data, reversing course after deep losses late last week. The Dow Jones Industrial Average jumped 146.49 points (0.91 percent) to 16,173.24, while the S&P 500 gained 14.92 (0.82 percent) at 1,830.61. The Nasdaq, which has fallen sharply over the last month, added 22.96 (0.57 percent) at 4,022.69.

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.

US stocks rise on upbeat retail sales, Citigroup profit

Wall Street stocks Monday moved higher in early trade following a big jump in US retail sales and a better-than-expected earnings report from Citigroup. About 30 minutes into trade, the Dow Jones Industrial Average advanced 62.81 points (0.39 percent) to 16,089.56. The broad-based S&P 500 rose 8.04 (0.44 percent) to 1,823.73, while the tech-rich Nasdaq Composite Index added 12.78 (0.32 percent) at 4,012.51. The early gains came on the heels of deep losses in the stock market Thursday and Friday.

Citigroup cuts 200 to 300 jobs: WSJ

(Reuters) - Citigroup Inc <C.N> has cut 200 to 300 jobs, or about 2 percent of its global markets workforce, the Wall Street Journal reported citing a person familiar with the matter. The bank is tightly managing expenses and "making targeted head count reductions in light of current market conditions," the Journal quoted a company spokeswoman. (http://r.reuters.com/vyb58v) Steve Prince, the younger brother of former Citigroup Chief Executive Charles Prince, was among those who lost their job, the report said.

Citigroup cuts 200-300 jobs

US bank Citigroup has cut between 200 and 300 additional jobs, most in the global markets business, The Wall Street Journal reported Sunday. Some of the employees were fired, while others left voluntarily. Among them was Steve Prince, the younger brother of former chief executive Charles Prince, according to the newspaper. Prince's LinkedIn profile says he is a senior vice president for marketing and advertising. The cuts account for about two percent of the global markets business, it added, citing a person familiar with the matter.

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)
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