Citigroup Financial News

In this article

(Updated — December 6, 2023 12:11 PM EST)

By Tatiana Bautzer and Niket Nishant

The heads of Wall Street’s biggest banks used an appearance on Capitol Hill to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated, warning that the proposals could negatively impact the economy at a time ...

By Joe Cash

Smead Capital Chief Investment Officer Bill Smead discusses which stocks could be big winners in 2024 on Making Money.

WASHINGTON (Reuters) — The top bosses of JPMorgan, Morgan Stanley, Citigroup and other major banks will warn lawmakers that new regulations will hurt credit and the broader economy, according to prepared testimony published on Tuesday.

After a rash of layoff announcements at the beginning of the year, some companies are cutting jobs as 2023 winds down and a strong labor market shows signs of cooling. Tech-industry layoffs, which dominated at the start of 2023, included Facebook parent Meta Platforms, Google parent Alphabet and Microsoft. Then downsizing went beyond high-growth technology companies, with retailers, manufacturers and the financial sector announcing cuts.

Snowden Lane Partners has recruited a former Citigroup veteran as a partner and managing director in its office in Coral Gables, Florida.

In recent years, many of the world’s biggest banks have published reports chronicling the vast sums they say they’re channeling into environmental and social activities. Now, senior people inside the industry are raising questions about those statements.

By Lewis Krauskopf

(Reuters) -Some major banks expect global economic growth to ease further in 2024, squeezed by elevated interest rates, higher energy prices and a slowdown in the world's two largest economies.

The US stock market just posted its best month in almost a year and a half, and one of its best Novembers in decades, defying skeptics and fueling hopes for more gains to come.

A California advisor who managed $197 million in client assets at Morgan Stanley has jumped to Raymond James & Associates, the firm’s employee channel, Raymond James announced Thursday.

Bullish signals from U.S. stock futures flows are diminishing, with mixed flows leaving positions neutral for the Nasdaq and slightly bearish for the S&P 500, according to Citigroup strategists.

The rally that led the S&P 500 to one of its best November gains in a century is now running out of steam, according to Citigroup Inc. strategists.

Singapore-based Fintech BondEvalue Pte. Ltd. has added new investor Beacon Venture Capital, the corporate venture arm of Thailand’s Kasikornbank, to its cap table as part of a US$6m Series B round, according to official announcement. Beacon Venture Capital joins existing shareholders MassMutual Ventures and Citigroup who also participated in the round. 

By Tatiana Bautzer

₹3,042.51 crore from the IPO which is entirely an offer for sale (OFS) of 6.09 crore equity shares by the promoter and investors. Promoter Tata Motors will offload 4.62 crore equity shares worth ₹2,313.75 crore in the OFS, while investors Alpha TC Holdings Pte Ltd will sell 97.17 lakh shares and Tata Capital Growth Fund I will offload 48.58 lakh shares in the Tata Technologies IPO. Also Read: Tata Tech IPO fully subscribed in less than an hour of opening; retail section gets full subscription Tata Technologies IPO price band has been set at ₹475 to ₹500 per share.

Tata Technologies on Tuesday raised about Rs 791 crore in the anchor round ahead of the issue opening on Wednesday. The IPO, which closes on November 24, is the first from Tata Group since the debut of TCS. The Board in consultation with book-running lead managers JM Financial, Citigroup Global Markets and BofA Securities finalised the allocation of 1.58 crore shares to anchor investors at Rs 500 apiece. Some of the marquee funds which participated in the anchor round include Fidelity, HSBC, Goldman Sachs, JM Financial MF, Kotak MF, Axis MF, Motilal Oswal, Edelweiss MF, Mirae Asset among others. The IPO was priced in the range of Rs 475-500, where investors can bid for a minimum of 30 shares in one lot. At the upper price band, the issue size is about Rs 3,042 crore. The public offer is entirely an offer for sale (OFS) of 6.08 crore shares, under which, Tata Motors, Alpha TC Holdings and Tata Capital Growth Fund will participate. The weighted average of the cost of acquisition for Tata Motors is Rs 7.40 per share and Rs 25.10 for investors Alpha TC Holdings and Tata Capital Growth Fund I. About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Citigroup Inc. said its head of wealth services is leaving as the lender conducts a global reorganization.