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☆ Citigroup begins layoffs as part of CEO Jane Fraser’s corporate overhaul
▼ + stars: | 2023-11-15 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Jane Fraser, CEO of Citigroup Inc., during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" at the Economic Club of Washington in Washington, D.C., March 22, 2023. Citigroup will soon begin layoffs in CEO Jane Fraser's corporate overhaul, CNBC has learned. Those impacted will include chiefs of staff, managing directors and some lower-level employees, said the people. She announced five new divisions whose heads report directly to her, resulting in the departure of a handful of senior executives. Fraser is under pressure to improve Citigroup, which has been mired in a stock slump as headcount and expenses have ballooned in recent years.

Persons: Jane Fraser, David Rubenstein, Jane, Fraser, We've Organizations: Citigroup Inc, Economic, of Washington, Washington , D.C, Citigroup, CNBC, Employees, Workers, CNBC PRO Locations: Washington ,

Jane Fraser, CEO of Citigroup Inc., during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" at the Economic Club of Washington in Washington, D.C., March 22, 2023. Citigroup said Wednesday it plans to pursue an initial public offering of its Mexico business, Banamex, scuttling a 16-month effort to find a buyer for the unit. The bank expects to complete the separation in the second half of 2024, with a public offering likely to follow in 2025, Citigroup said in a release. It hasn't yet decided on a listing destination, but a dual listing in Mexico and the U.S. is possible, a source familiar with the plans told CNBC. Plans to sell or IPO Banamex were disclosed in January 2022.

☆ Morgan Stanley tops analysts’ expectations on better-than-expected trading results
▼ + stars: | 2023-04-19 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

Morgan Stanley on Wednesday topped estimates for first quarter profit and revenue on better-than-expected trading results. Under CEO James Gorman, Morgan Stanley has become a wealth management giant thanks to a string of acquisitions. The bank gets most of its revenue from wealth and investment management, steadier businesses that help to offset volatile trading and banking results. First-quarter trading revenue dipped from a year ago as Wall Street comes down from a pandemic-era boom, but Morgan Stanley's traders managed to top expectations by roughly $250 million. He added that there was "no doubt" that Morgan Stanley would acquire more companies in wealth management, though nothing was imminent.

☆ World markets set for aftershocks as SVB collapse ripples out
▼ + stars: | 2023-03-12 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +5 min

LONDON, March 12 (Reuters) - Markets were set for a bumpy ride this week as the fallout from collapsed startup-focused lender Silicon Valley Bank (SVB), the biggest U.S. bank failure since the 2008 financial crisis, coincides with key economic data and policy meetings. It later recovered most of its losses after Circle, the firm behind it, assured investors it would honour the peg despite exposure to Silicon Valley Bank. SVB could have a domino effect on other U.S. regional banks and beyond. The S&P 500 regional banks index (.SPLRCBNKS) dropped 4.3%, bringing its loss for the week to 18%, its worst week since 2009. UK finance minister Jeremy Hunt's UK budget may be overshadowed by the SVB fallout in Britain.

☆ NHL roundup: Bruins edge Kraken on Jake DeBrusk's late tip-in
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +7 min

Brandon Carlo scored the first of the Bruins' two third-period goals, while McAvoy and Hampus Lindholm had two assists apiece. The winning goal was DeBrusk's third goal in three games since returning from injuries. Minnesota killed off its 22nd straight penalty in the win and has not given up a power-play goal in nine straight games. Oilers 7, Penguins 2Connor McDavid had two goals and two assists as Edmonton scored seven straight goals to defeat host Pittsburgh. Vincent Trocheck scored the only goal for the Rangers, who have lost three straight following a seven-game winning streak.

☆ Morgan Stanley is set to report third-quarter earnings —here’s what the Street expects
▼ + stars: | 2022-10-14 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Morgan Stanley CEO James Gorman participates in a conversation-style interview with Economic Club of Washington in Washington September 18, 2013. Morgan Stanley is set to report third-quarter earnings before the opening bell on Friday. That's the question for Morgan Stanley, whose investment banking, trading and wealth management operations are all impacted by the vagaries of the market. While analysts expect the bank's wealth management and investment management divisions – responsible for half of the firm's revenue – will hold up better than investment banking, lower asset values will reduce revenue there as well. Wells Fargo and Citigroup are also scheduled to report results Friday, followed by Bank of America on Monday and Goldman Sachs on Tuesday.

☆ Old money: How retirees are funding and fueling political candidates unlike ever before
▼ + stars: | 2022-09-20 | by ( Madison Hall | ) www.businessinsider.com time to read: +10 min

In the 2020 election cycle, retirees gave hundreds of millions of dollars to federal candidates. Crystal Snow, a 60-year-old retired business owner, also donated hundreds of times to Republican groups ahead of the 2020 election, according to federal records. Snow told Insider she donated according to her Christian values and did so exclusively online, including to the likes of Sens. By the 2020 election cycle, retirees accounted for more than $1 in every $5, amounting to more than $378 million. Retirees are responsible for a greater and greater share of large political contributions, federal campaign finance data indicates.

Liderul partidului Liberal Democrat din Rusia a observat că starea societății din SUA în această campanie electorală și în preajma alegerilor amintește de trecut. „Oamenii sunt obosiți de anarhia din întreaga țară... America se confruntă cu aceleași tulburări - pogromuri, jafuri și violență - pe care noi în Rusia le-am trăit în urmă cu 400 de ani”, a observat Jirinovski. Într-adevăr, în SUA atmosfera este extrem de tensionată, iar multe magazine și-au tras storurile de teama posibilelor violențe de după alegeri. Tot în Washington În Washington DC s-au declanşat și proteste în timpul numărării buletinelor de vot, când un grup de manifestanți au ieșit pe străzi, punând autoritățile în alertă. Există chiar teama că, în cazul în care Donald Trump va câştiga alegerile, vor urma tulburări sociale în SUA, declanşate de organizații anarhiste precum ANTIFA sau Black Lives Matter.

Persons: Vladimir Jirinovski, Biden, Donald Trump, Jirinovski Organizations: Liberal Democrat, Partidului Liberal Democrat, America, Casei, Washington DC, Black Locations: Rusia, SUA, BRUXELLES, Washington

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