Citigroup Inc.

Citi profit plunges on legal settlements and fall in bond revenue

Citigroup Inc said its quarterly profit dropped 86 percent, hurt by legal settlements and falling bond trading revenue, sending the bank's shares down more than 4 percent.

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Goldman Sachs profit hit by weak fixed-income trading

Goldman Sachs Group Inc (GS.N) reported a 7 percent drop in fourth-quarter profit as sharp market moves in December hit its bond-trading business.

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Citigroup makes last-minute cut in year-end bonuses for traders

Citigroup Inc (C.N) this week cut its bonus pool for fixed-income and equity market traders after market revenues plunged during the last two weeks of the year, according to a person familiar with the matter.

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Citigroup seeking to sell Diners Club business in Japan with retail unit-sources

Citigroup Inc (C.N) on Friday told bidders for its Japanese retail banking operations that it was looking to sell its profitable Diners Club card business in Japan with the retail unit, sources with knowledge of the matter said.

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Citi to pay allowance to compensate for limited bonuses

Citigroup Inc (C.N) has told senior staff in Europe that they would receive fixed monthly pay in addition to their salaries in an attempt to compensate for rules that limit bonuses to up to twice the level of base salaries, the Financial Times reported, citing several people.

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Metalmark Capital-backed Healogics exploring $1B sale

Healogics Inc.,owned by private equity firm Metalmark Capital, is reportedly considering a sale that could value the wound care services provider at $1 billion. Goldman Sachs Group has been tapped to find a buyer.

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America's top five banks control a total of $6.46T in assets -report

Financial information provider SNL Financial in a report said that the five largest lenders in US control 44.2% of the industry's assets. JPMorgan Chase & Co, Bank of America,Citigroup,Wells Fargo & Co, and US Bancorp have a total of $6.46 trillion in assets.

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Citigroup Inc partners with AIA for life insurance sales in Asia-Pacific

Citigroup Inc chose to work with AIA Group in a 15-year agreement allowing the latter to sell life insurance through its branch network in 11 countries, Bloomberg reported.

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Citigroup Inc sells private equity unit to abide by Volcker Rule

To follow the requirements of the Volcker Rule, Citigroup Inc sold private equity unit Metalmark Capital, Bloomberg reported. The terms of the deal were not disclosed.

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Texas Industries working with Citigroup on possible exit

Investors Southeastern Asset Management and NNS Holding have been looking to divest their stakes in Texas Industries Inc. Cement producer Texas Industries is said to be working with Citigroup on a possible sale.

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India's GMR hires Citigroup, JPMorgan and two others for $300-$350 million IPO

GMR Infrastructure Ltd. has began the process for the $300-$350 million initial public offering it is planing for its airport business. It has reportedly tapped Citigroup, JPMorgan, Axis Capital and Infrastructure Development Finance Company to manage the listing.

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Tomkins taps Goldman Sachs to advise on sale or IPO

Tomkins Ltd. has began the process for an exit deal that could bring in at least USD6 billion to the British manufacturer. It reportedly hired Goldman Sachs Group to advise on its proposed sale or listing.

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Hedge funds run in Asia are cheaper than in US, Europe by 42% - survey

Despite the discount of costs to run hedge funds in the Asian-Pacific region, Citigroup Inc's recent survey revealed that not all hedge funds in the region are successes in expanding its assets and achieving profitability.

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DAMAC raises USD348 million in London listing debut

Dubai property firm DAMAC raised USD348 million in its first trading day in the London Stock Exchange. A week ago, DAMAC reduced the deal size to USD400 million and fixed the final price at USD12.25 per global depositary receipt (GDR).

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Sources say Citigroup Inc intends to give two insurers rights to distribute products in Asia

Sources interviewed by Bloomberg said Citigroup Inc is planning to give distribution rights to sell its products in Asia to at least two insurance firms.

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