Citigroup Financial News

Subscribe to enjoy similar stories.Big banks in America have ridden a dealmaking boom that has helped drive demand for corporate loans and pulled record-breaking fees from the wild swings in financial markets. But the most surprising and intriguing news so far in the past week’s earnings parade of the US financial sector was the diverging fortunes of bond traders at Goldman Sachs and JPMorgan Chase.The war in the West Asia has created a huge amount of uncertainty since the American and Israeli attacks on Iran began at the end of February, but mergers and acquisitions still got done and US commercial and industrial loans jumped by the most in more than three years.

Subscribe to enjoy similar stories. JPMorgan Chase CEO Jamie Dimon said fears about artificial intelligence that walloped its stock on Monday were overblown and that America’s biggest bank would use the technology to its advantage. “In my view, we’ll be a winner," said Dimon, who was wearing a cast on his left hand after having arthritis and bone spurs treated.

Subscribe to enjoy similar stories. The chief executives of the largest U.S. banks together raked in $258 million in compensation for 2025, after a strong economy and buoyant Wall Street propelled their businesses to record levels.

Subscribe to enjoy similar stories. SBI Funds Management, India’s largest asset manager, is expected to file its draft prospectus for an initial public offering (IPO) with the market regulator by mid-February, with a listing likely by April, said three people aware of the discussions. Investment bankers have made presentations and pitched for an IPO of $1.2 billion-1.4 billion, valuing the company at $12 billion-14 billion, they said.

Subscribe to enjoy similar stories. Company Outsider is a weekly newsletter by Sundeep Khanna. Subscribe to Mint's newsletters to get them directly in your email inbox. For two decades, Tata Consultancy Services (TCS) was synonymous with building.

Subscribe to enjoy similar stories. The Federal Reserve lowered interest rates for the third time in four months on Wednesday while signaling that further easing is far from assured.

Why are bank stocks crashing globally even though Trump’s tariffs don’t target them?- If you've been keeping an eye on the stock market, you probably noticed a wild swing recently—especially in the banking sector. Billions of dollars have vanished from global banks, and the confusion is real. You might be asking: Wait, aren’t Trump’s tariffs aimed at goods? Why are banks bleeding? That’s the heart of the issue. While President Donald Trump’s new tariff walls—reportedly the toughest in a century—don’t hit banks directly, the ripple effects are enough to spook the financial world. And the selloff we’re seeing now? It’s not just a blip. It could be the early signs of something much bigger, potentially tipping the global economy toward a 2025 recession.

Indian stocks have erased this year’s losses as early signs of a pickup in government spending and monetary easing buoys sentiment. The benchmark NSE Nifty 50 Index climbed as much as 1.3% on Monday, and is set for a six-day winning streak, the longest since September last year.

Trump last month ordered the US Commerce Department to investigate US imports of copper as a likely precursor to imposing duties. Since then, US prices have spiked and traders have scrambled to send metal to America ahead of any tariffs, in turn reducing supply in the rest of the world.

Subscribe to enjoy similar stories. Mumbai: Global private equity firm TPG Capital and Singapore government’s sovereign wealth fund GIC have entered the race to acquire up to 49% stake in the Indian operations of Chinese consumer durables maker Haier, four people aware of the development said. While TPG has teamed up with the Burman family, GIC is bidding along with the Goenka family of the Welspun Group, these people said.

Subscribe to enjoy similar stories. Nvidia has barely started shipping its latest artificial intelligence chips, and everybody is already looking to hear about the next ones. For the world’s most valuable semiconductor company, that is a high-quality problem.

Trump administration has ended $20 billion in funding for greenhouse gas reduction projects in a move that climate advocates and Democrats say illegally seizes money allocated for clean energy and transportation for disadvantaged communities. Environmental Protection Agency Administrator Lee Zeldin had publicized his campaign to claw back money from the Greenhouse Gas Reduction Fund, which Congress appropriated under the Biden administration to kick-start projects aimed at curbing pollution. In a statement late on Tuesday, the EPA said it had clawed back the funds, saying the program did not align with the agency's priorities and citing concerns with potential fraud, waste and abuse, although it gave no details. The U.S. Justice Department and the FBI are reviewing the program, it added. The EPA said it would work to use the funds «with enhanced controls» within the law but did not say specifically what it would do with the money.

Citigroup Inc. almost shifted about $6 billion to a customer’s account by accident after a staffer handling the transfer copied and pasted the account number into a field for the dollar figure. The near-miss in Citigroup’s wealth-management business magnified the intended amount by more than a thousand times and was detected on the next business day, according to people familiar with the matter. It happened in April, the same month that another part of the bank accidentally credited $81 trillion to a different client. The wealth division’s error was reported to regulators and, within Citigroup’s offices, provoked audible frustration from Andy Sieg, who had arrived just months earlier to run the unit, according to the people, who asked not to be named discussing private information.

Citigroup Inc. credited a client’s account with US$81 trillion when it meant to send only US$280, an error that could hinder the bank’s attempt to persuade regulators that it has fixed long-standing operational issues.

Four major banks will pay fines totalling over £100 million (US$127 million) to settle a long-running antitrust case over collusion by their traders, who shared sensitive information in chatrooms about buying and selling gilts after the 2008 financial crisis.

Citigroup Inc. is ending workplace representation goals and removing requirements to interview job candidates from diverse backgrounds, citing pressure from the Trump administration.

Royal Bank of Canada has followed Toronto-Dominion Bank and Bank of Montreal in leaving the banking industry’s largest climate-finance alliance.

The Connor Group founder and managing partner discusses what needs to happen to unleash the housing market and the impact of regulations on rebuilding California following the wildfires.

Subscribe to enjoy similar stories. Media technology unicorn Amagi Media Labs has hired Kotak Mahindra Capital, Citigroup, IIFL Capital and Goldman Sachs as investment banks to raise up to ₹3,200 crore in an initial public offering (IPO), two people aware of the matter said. The company, which counts NBC Universal, CBS, USA Today and Japan’s Rakuten Group among its clients, is likely to file draft IPO papers after April, the people said on the condition of anonymity.

The Bank of Montreal has become the first Canadian bank to withdraw from the Net-Zero Banking Alliance, which aims to align lending, investment and capital markets activity with net-zero greenhouse gas emissions by 2050.

BMO Financial Group has entered a partnership with alternative asset manager Canal Road Group in a deal that will enable the latter to invest up to US$1 billion in direct lending, as the Canadian bank seeks to grow its presence in the booming private credit market.