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☆ Dollar firms ahead of busy data week with U.S. inflation in focus
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: +4 min

The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking center stage. The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking center stage. The kiwi had risen 1.2% last week, helped by broad dollar weakness and the risk of a rate hike from the RBNZ on Wednesday. "If anything, the (data) may be stronger than markets currently expect, and that will likely give a modest boost to the dollar," said CBA's Kong. "But at the same time, any gains in the dollar will likely be pretty modest.

Persons: Carol Kong, Sterling, Jane Foley, CBA's Organizations: Reserve Bank of New, New Zealand, Commonwealth Bank of Australia, of Japan's, U.S, Rabobank, U.S . Commodity Futures, Fed Locations: Japan, Australia, Reserve Bank of New Zealand, China, Asia, U.S

☆ Wall Street gets its biggest investment-banking shakeup in years. Here are the key players making moves.
▼ + stars: | 2024-02-26 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Read previewWall Street experienced a big shakeup on Monday when two big banks announced new leaders for their investment-banking units. Citi's hire comes just weeks after JPMorgan promoted Raghavan to the sole head of its deals business, forcing America's biggest bank by assets to regroup. Under Raghavan, JPMorgan rose to No. For the last decade, the 59-year-old has been CEO of the bank's commercial bank, dedicated to corporate lending, including to Silicon Valley startups and real-estate investors. In an internal memo announcing his new role, bank executives said he's "significantly" grown revenue in the region since he took over the region in 2019.

Persons: —, Viswas Raghavan, Raghavan, Jamie Dimon, Filippo Gori, Doug Petno, Filippo Gori —, Jane Fraser, Fraser, Merrill Lynch, Andy Sieg, Patrick T, Fallon, Raghavan Raghavan, Doug Petno Petno, Jennifer Piepszak, Troy Rohrbaugh, Piepszak, Marianne Lake, Rohrbaugh, he's, He'll, Sjoerd Leenart, Mary Erdoes, Reed Alexander Organizations: Service, Citigroup, America's, Business, JPMorgan, Citi, Financial Times, Banking & International, Citi Foundation, EMEA, Financial News, JPMorgan's, Corporate Banking Locations: Hong Kong, London, Europe, Africa, Fraser, EMEA, Silicon, Filippo Gori Gori, JPMorgan's Asia, Pacific

☆ When a Job Becomes a Literal Hell
▼ + stars: | 2024-02-23 | by ( Beatrice Loayza | ) www.nytimes.com time to read: +2 min

The women had suffered lithium poisoning while working at battery factories and began to break into fits of destructive rage during their shifts. In Lin’s retelling, the workers are resurrected as demons, seething with chaotic desire. The restaurant kitchen in FX’s series “The Bear,” which premiered in 2022, is a ticking time bomb of screaming, stove fires and oil burns. (“The Bear,” for all its frenetic pacing, dips into full-blown surrealism only during interludes showing lead chef Carm’s dreams.) These stories portray workers who are not simply anxious and exhausted but violently combusting.

Persons: Candice Lin’s, Lin, Aihwa, Dolly Parton, Jane Fonda, Lily Tomlin, Éric Gravel’s, Carm’s Locations: New York, Malaysian, Malaysia, French Canadian, Paris

☆ J. Lo and Behold: Is She for Real?
▼ + stars: | 2024-02-22 | by ( Wesley Morris | ) www.nytimes.com time to read: +1 min

Nobody who winds up at a “what’s the strangest moment in this new J. Lo thingy” contest should worry. None of these people appears to have been on the set at the same time. The only performers persuasively sharing the screen are Jenifer Lewis and Jenifer Lewis, and that’s only because she’s doing Gemini. A number about a quickie wedding is called “Midnight Trip to Vegas,” but the groom has already hand-delivered Lopez’s invitation.

Persons: Lo thingy, Joe, Melfi, Jennifer Lopez’s Tony Soprano bewilder, Jane Fonda, Trevor Noah, Keke Palmer, Post Malone, Kim Petras, Neil deGrasse Tyson, Jenifer Lewis, It’s Locations: Vegas

☆ Citigroup just boosted its CEO's pay to $26 million even as it plans to slash thousands of jobs
▼ + stars: | 2024-02-21 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

Citigroup CEO Jane Fraser received a 6% compensation increase in 2023, totaling $26 million. The raise comes as Citigroup plans to cut 20,000 jobs over the next few years. AdvertisementCitigroup CEO Jane Fraser received a 6% pay boost in 2023, a new SEC filing shows, as the banking giant prepares to slash thousands of jobs over the next few years. Fraser received $26 million in 2023; most of her pay comprised performance-based stocks and cash incentives. According to the filing, Citigroup concluded that Fraser implemented the "most consequential set of changes to its organizational and management model since the 2008 financial crisis."

Persons: Jane Fraser, —, Fraser Organizations: Citigroup, Service, SEC, Business

NEW YORK (AP) — The New York Times was honored Monday with George Polk Awards for Foreign Reporting and Photojournalism for its coverage of the war between Israel and Hamas. They were among Polk Awards winners announced Monday in 13 categories. In all, five of the prestigious journalism prizes were for coverage of the Israel-Gaza and Russia-Ukraine wars. The winners will be honored in April as the university marks the 75th anniversary of the awards. That prize was established by journalist Jane Freiman Schanberg to honor long-form investigative or enterprise journalism and comes with a $25,000 award.

Persons: George Polk, Photographers Samar Abu Elouf, Yousef Masoud, “, ”, John Darnton, Elon Musk, Osher, Julia Cardi, Joshua Kaplan, Justin Elliott, Alex Mierjeski, Brett Murphy, ProPublica, Clarence Thomas, Jason Motlagh, Jane Freiman Schanberg, Luke Mogelson, Anna Werner, Brett Kelman, Fred Schulte, Holly K, Hacker, Daniel Chang, Julie Pace, Bob Woodward, Christiane Amanpour, Dean Baquet Organizations: New York Times, Foreign, Hamas, Photographers, University, Polk, CBS, Tesla, SpaceX, Supreme, New, The Gazette, Colorado Springs, Sydney Schanberg, Reuters, Yorker, CBS News, KFF Health, Food, Drug, Long, Long Island University, Journalism, Digital Media, Associated Press, Julie Pace , Washington Post, CNN Locations: Israel, Gaza, Long, Russia, Ukraine, New York, Haiti, Long Island, Manhattan, Julie Pace ,

☆ J.Lo's director breaks down the wildest details in 'This Is Me...Now,' from casting actors as her exes to that cameo-laden 'zodiac council'
▼ + stars: | 2024-02-16 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +11 min

For Meyers, Lopez's "emotional journey" is the connective thread, transforming a series of eclectic events into a complete story arc. Later, Jane Fonda (Sagittarius) compares Lopez's love life to a 4 a.m. "Vanderpump Rules" marathon. AdvertisementIn this scene, Lopez ties the knot with three different men at identical wedding ceremonies. In fact, Meyers said he and Lopez were careful to cast actors who didn't "accidentally depict" a real person from Lopez's life. She's unapologetic about what she's been through, and she's very happy where she is now."

Persons: —, Jennifer Lopez, She's, Shakira, Ben Affleck, Dave Meyers, Lopez, Ja, Pink Floyd, Jen, Fat Joe, Meyers, Variety, Affleck, couldn't, You've, Jen's, we're, Keke Palmer, Malone, Leo, Jane Fonda, Trevor Noah, Libra, Neil deGrasse Tyson, " Meyers, there's, scoff, They're, Tony Bellissimo, Derek Hough, Trevor Jackson, she's Organizations: Service, Super, Business, Zodiac Council, Zodiac, Love AA Locations: Bolivia

☆ Jane Fonda cameos in Jennifer Lopez’s ‘This Is Me… Now’ alongside Sofía Vergara, Kim Petras
▼ + stars: | 2024-02-16 | by ( Dan Heching | ) edition.cnn.com time to read: +1 min

Fonda’s “Council” also contains other stars in cameo appearances, including Post Malone, Kim Petras, Sofía Vergara, Keke Palmer, Neil deGrasse Tyson, Jay Shetty, Jenifer Lewis, Sadhguru and Trevor Noah. Lopez and Fonda starred together in the 2005 comedy “Monster In Law,” a crowd-pleasing rom-com costarring Wanda Sykes that heralded Fonda’s return to making movies after a prolonged absence. Courtesy Prime VideoOther stars featured in the movie include Fat Joe and Lopez’s husband Ben Affleck. Lopez will also release an accompanying documentary, titled “The Greatest Love Story Never Told” on the streaming platform on February 27. If that weren’t enough, the star also announced an upcoming tour this week, to kick off this summer.

Persons: CNN —, Jennifer Lopez’s, ” Jane Fonda, Fonda’s, ”, Post Malone, Kim Petras, Sofía Vergara, Keke Palmer, Neil deGrasse Tyson, Jay Shetty, Jenifer Lewis, Sadhguru, Trevor Noah, Lopez, Fonda, Wanda Sykes, ” Lopez, Jennifer Lopez, Joe, Ben Affleck, Barbra Streisand, Robert Redford Organizations: CNN, Zodiacal, Post

☆ Ben Affleck is unrecognizable during his cameo in Jennifer Lopez's new movie
▼ + stars: | 2024-02-16 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +3 min

Read previewBen Affleck is one of many celebrity guest stars in Jennifer Lopez's new musical film "This Is Me…Now: A Love Story." Affleck is in the driver's seat while Lopez clings from behind, but his face is never shown onscreen. Ben Affleck and Jennifer Lopez costarred in the 2003 film "Gigli." Affleck and Lopez dated in the early aughts and got engaged in 2002, but broke up in 2003 just three days before their wedding. "This Is Me…Now: A Love Story" is a surreal retelling of Lopez's journey in the interim, including her tumultuous dating life.

Persons: —, Ben Affleck, Jennifer Lopez's, Jane Fonda, Keke Palmer, Rex Stone, Stone, Affleck, Lopez, they're, Jennifer Lopez costarred, Dave Meyers, Lopez's, Sean, Diddy, Combs, Marc Anthony, Alex Rodriguez, Meyers Organizations: Service, Business, Sony, Variety

The 65-minute musical film, which she self-financed, follows a hopeless romantic in search of love (Lopez) and the myriad ways she contends with repeated heartbreak, including visits to her therapist (played by Fat Joe) and sobbing through old romantic films. Photos You Should See View All 22 ImagesAP: It's been a decade since your last album. But this was really different because I hadn’t been inspired to really go into the studio and write a whole album for years. I did “Marry Me” a few years ago for the movie, but that was not a Jennifer Lopez album, not a J.Lo album. It’s made me doubt myself and really feel bad about myself at times.

Persons: Jennifer Lopez, Lopez, Fat Joe, Jane Fonda, Post Malone, Keke Palmer, Sofia Vergara, Ben Affleck, It's, LOPEZ, Nobody, I’ve, ” —, “, They’re, It’s, Ben, they’re, you’re Organizations: ANGELES, AP Locations: Orlando , Florida

☆ A bet using options that a long-underperforming bank is finally turning the corner
▼ + stars: | 2024-02-14 | by ( Tony Zhang | ) www.cnbc.com time to read: +2 min

There has been a revolving door of CEOs, but Jane Fraser has seemed to catch investors' attention finally. As the bank shed unprofitable businesses and focused on generating revenue growth, the stock has not underperformed over the last 10 months. Additionally, I am quite comfortable as an investor buying into a bank that is trading at 7 times forward earnings. Options on Citigroup are not very expensive, so my preference is to capture the potential upside by using a simple call option. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Jane Fraser, selloff Organizations: Citigroup, Citi

☆ Here are Wednesday's biggest analyst calls: Tesla, Nvidia, Arm, Citi, Walmart, First Solar, Ulta, GE & more
▼ + stars: | 2024-02-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

UBS downgrades Waste Management to neutral from buy UBS said the trash company has a "lofty" valuation. Citi reiterates Nvidia as buy Citi said its standing by its buy rating heading into earnings next week. " UBS upgrades HF Sinclair to buy from neutral UBS said the refiner is underappreciated. UBS upgrades Huntington Bancshares to buy from neutral UBS said it sees "strong strategic positioning" for the regional bank. Citi downgrades GlobalFoundries to neutral from buy Citi downgraded the semi company following earnings on Tuesday.

Persons: Wells, Redburn, Morgan Stanley, Tesla, it's, Piper Sandler, Piper, Jane Fraser's, Q, BRKRs, BRKR, DINO, D.A, Davidson downgrades Airbnb, Evercore, GlobalFoundries, Bernstein, Wingstop Organizations: Wells, RBC, Enphase Energy, Shoals Technologies, SolarEdge Technologies, UBS downgrades Waste Management, UBS, Citi, Nvidia, JPMorgan, Sinclair, diesel, Deutsche Bank, General, Deutsche, GE, ABNB, ABNB's, Walmart, ISI, Huntington, HSBC, Palantir, HP, Bank of America, of America, Design Systems, Rivals Locations: EBITDA

☆ British Vogue features 40 ‘legendary’ cover stars for editor Edward Enninful’s final issue
▼ + stars: | 2024-02-09 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +4 min

CNN —For British Vogue’s final issue under Edward Enninful, the outgoing editor-in-chief put not one superstar on the cover, but 40 of them. Forty previous cover stars return for Enninful’s final issue. Steven Meisel“When it came to my last issue, I knew the cover would be dedicated to women. Ned RogersNaomi Campbell, who has now appeared on four British Vogue covers during Enninful's tenure. His other cover stars included 82-year-old Miriam Margolyes, who posed nude for last year’s Pride Month issue, and a then-85-year-old Dame Judi Dench.

Persons: Edward Enninful, Naomi Campbell, Cindy Crawford, Miley Cyrus, Linda Evangelista, Jane Fonda, Kate Moss, Serena Williams, Steven Meisel, Ned Rogers, Enninful, Steven Meisel “, ” Enninful, ”, shockwaves, Misan Harriman, Kennedi Carter, Ned Rogers Naomi Campbell, Ned Rogers Enninful, Fonda, Miriam Margolyes, Dame Judi Dench, Christy Turlington, CNN’s Christiane Amanpour, Anna Wintour’s, Condé Nast, Chioma Nnadi Organizations: CNN, Hollywood, Vogue, British Vogue Locations: Ghanaian, Dua Lipa, Manhattan, London, Paris, Milan, Los Angeles, British

☆ One of Wall Street's favorite ways to control workers is under attack
▼ + stars: | 2024-02-08 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

One of Wall Street's favorite employee leverage tactics — non-compete agreements — is facing a major threat, and there could be far-reaching implications for how the financial industry does business. But it's also clear that Wall Street firms are under particular attention for the practice. With major Wall Street firms already having among the most unpopular back-to-work policies in the market, "Wall Street is already in a position where they are recognizing they don't have all the hands they had before," Chamberlin said. Shore recommends Wall Street firms undertake a thorough competitive analysis at every level in every department to ensure they are market competitive. Even if the FTC rule goes through, Wall Street firms still have options to protect their business.

Persons: Charles Scharf, Wells, Brian Thomas Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Ronald O’Hanley, Robin Vince, BNY Mellon, David Solomon, Goldman Sachs, James Gorman, Morgan Stanley, General Mills, —, Wall, it's, Kathy Hochul, that's, Covid, Laurie Chamberlin, Chamberlin, Lina Khan's, Khan, It's, David Fisher, Gilbert, Fisher, Juan A, Crowell, Arteaga, Paul Webster, Matt Shore, Kareem Bakr, Webster, Leslie John, Ballard Spahr, John Organizations: Company, Bank of America, JPMorgan, Citigroup, BNY, Google, Apple, Pfizer, Exxon Mobil, General Electric, Procter, Gamble, Nike, Economic, Institute, Federal Trade Commission, North America, American College of Emergency Physicians, Davis, FTC, Supreme, Industry, Moring, Wall, Phaidon International, Wall Street Locations: Wells Fargo, Hart, Washington ,, New York, . California, U.S, Gilbert . Massachusetts, Oregon, Washington, Massachusetts

☆ The 'Mr. and Mrs. Smith' show's opening cleverly says goodbye to the original Brad Pitt and Angelina Jolie movie — here's how
▼ + stars: | 2024-02-02 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +4 min

Prime Video's "Mr. & Mrs. Smith" series stars Donald Glover and Maya Erskine. Thankfully, Prime Video's "Mr. & Mrs. Smith" TV series stands apart from the usual pitfalls of nostalgia bait and familiarity. While neither Pitt or Jolie appear in the Amazon TV show alongside Glover and Erskine, the opening episode finds a metaphorical way of saying goodbye to the "Mr. & Mrs. Smith" movie. AdvertisementSo while audiences will already be familiar with the idea of married spies, the "Mr. & Mrs. Smith" series feels fresh enough to stand on its own two feet. "Mr. & Mrs. Smith" is streaming now on Prime Video.

Persons: Smith, Donald Glover, Maya Erskine, It's, Brad Pitt, Angelina Jolie, —, John, Jane Smith, it's, Jane, Pitt, Jolie, Glover, Erskine, Alexander Skarsgård, Eiza Gonzalez, they've, Jane's, Gonzalez, Doug Liman Organizations: Service, Amazon Locations: York

☆ Top analyst Mike Mayo turns bullish on Citigroup with Warren Buffett as an influential investor
▼ + stars: | 2024-01-22 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Widely followed bank analyst Mike Mayo named Citigroup his top pick, saying he realized the embattled bank is under the influence of none other than Warren Buffett. "Until now, it was unclear to us and many investors whether this Citi stake was really a 'Warren Buffett investment' vs. somebody else at his firm. Earlier this month, Citigroup cut 10% of its workforce in a bid to boost the bank's results and stock price. C 1Y mountain Citigroup Mayo said Buffett seems to support his belief that Citigroup's overhaul could make a significant difference this time around. "Warren Buffett supports the CEO's restructuring.

Persons: Mike Mayo, Warren Buffett, Wells Fargo's Mayo, Buffett, Berkshire Hathaway, Jane Fraser, Omaha hasn't, Mayo, Goldman Sachs, Brian Moynihan, Fraser, couldn't, Citigroup Mayo Organizations: Citigroup, Reuters, Berkshire, Citi, U.S . Bancorp, JPMorgan, Bank of America, Apple, CNBC, U.S Locations: Omaha, Mayo, Berkshire, Wells Fargo, Bank

☆ Dollar headed for second weekly gain on tempered rates outlook
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: +3 min

Dollar bills and Japanese currency Yen lying on a table on August 03, 2016 in Berlin, Germany. The dollar headed for a second weekly gain in a row on Friday on signs of resilience in the U.S. economy and caution about rate cuts from central bankers. Weekly gains on the risk-sensitive Australian and New Zealand dollars of 1.7% and 2.1% are set to be the largest since November and June respectively. Rabobank revised its one-month forecast for dollar/yen to 148 from 144, expecting further unwinding of bets on the pace of U.S. rate cuts to support the dollar. An unexpected rise in British inflation also drove a sharp pullback in bets on Bank of England interest rate cuts, and leant support to sterling.

Persons: Jane Foley, Christopher Waller, Bitcoin Organizations: New, Bank of Japan, Rabobank, Federal, Bank of Locations: Berlin, Germany, U.S, New Zealand, Asia, Europe, Bank of England

☆ These cheap stocks with upside could be the next bull market winners
▼ + stars: | 2024-01-19 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Wall Street is on the verge of confirming a new bull market has begun, and these stocks could be the next big winners. Here's the criteria: Average analysts' forecasts imply at least 15% upside moving forward. Average analysts' forecasts imply more than 15% upside moving forward. Analysts think the stock can climb even higher, with their average forecasts implying nearly 22% upside moving forward. Analysts forecast a further 21% upside moving forward.

Persons: Stocks, Jane Fraser's, Conor Cunningham, Wells Organizations: Nasdaq, CNBC, Financial, Citigroup, Citi, Shipping, FedEx, Analysts, Melius Research, JBL, L3Harris Technologies

☆ What Wall Street bosses from Goldman Sachs to JPMorgan are saying about the jobs outlook for 2024 in investment banking, wealth management, and more
▼ + stars: | 2024-01-16 | by ( Emmalyse Brownstein | Alex Morrell | Reed Alexander | ) www.businessinsider.com time to read: +11 min

Last year, banks opened 2023 by forecasting layoffs, including for the investment bankers who suddenly had nothing to do following the pandemic-era M&A and IPO boom. Citigroup kicked off 2024 ominously, warning that it will lay off as many as 20,000 employees by 2026. The bank expects 2024 expenses to increase further to total $90 billion, up $2.8 billion from 2023, and much of that will be focused on hiring. CFO Barnum on Friday said the bank is gearing up for a "rebound in the investment banking wallet." Headcount declined 3% to 80,006 from 82,427, while compensation expenses rose to $24.5 billion from $23 billion.

Persons: It's, it's, Jane Fraser, Jeremy Barnum, JPMorgan Chase Jamie Dimon, JPMorgan Chase, Alex Wroblewski, JPMorgan's headcount, Barnum, Friday, Patrick T, Fallon, —, Fraser, Q, Goldman Sachs Goldman Sachs, David Solomon, BRENDAN MCDERMID, Goldman Sachs, Denis Coleman, Coleman, Goldman, Bank of America Brian Moynihan, Robert Galbraith, headcount, BofA, Alastair Borthwick, execs, they've, Brian Moynihan, Wells Fargo Charles Scharf, Lucy Nicholson Wells Fargo, Michael Santomassimo, Charlie Scharf, Santomassimo, BlackRock Larry Fink, Fink, Kapito, Morgan Stanley Ted Pick, Morgan Stanley, Jeenah, Headcount, Morgan, Ted Pick, Sharon Yeshaya, Blackstone Steven Schwarzman, Blackstone, Gonzalo Fuentes Organizations: Business, Citigroup, JPMorgan, Citi, BlackRock, Blackstone, Getty, AlphaSense, Citigroup Citigroup, Bank of America, REUTERS, Robert, Robert Galbraith Bank of America's, Reuters, AP BlackRock, Global Infrastructure Partners Locations: Wall, headcount, Wells Fargo

☆ CNBC Daily Open: Big Bank earnings point to a grim season
▼ + stars: | 2024-01-15 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

Win Mcnamee | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineFourth-quarter earnings have officially begun with four of Wall Street's top six banks reporting rather bleak results. JPMorgan Chase, the biggest U.S. bank by assets, paid a sizeable fee linked to the government seizures associated with regional banking crisis last March, which impacted its earnings. Citigroup has lagged its Wall Street peers since the 2008 financial crisis and remains the lowest valued among the top six banks.

Persons: Brian Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Win Mcnamee, Jane Fraser's, Kurt Rankin, Lai Ching, Lai Organizations: Bank of America, JPMorgan, Citigroup, CNBC, Federal Reserve, PNC, Voters, Democratic Progressive Party Locations: Hart, Washington , DC, U.S, Asia, China, Taiwan

☆ Jane Fonda says her Oscar trophies were kept hidden during her marriage to Tom Hayden
▼ + stars: | 2024-01-15 | by ( Amanda Goh | ) www.businessinsider.com time to read: +2 min

Jane Fonda says she kept her Oscar trophies hidden while married to her second husband Tom Hayden. "I wanted to play down the Hollywood part of me," she told Dave Karger in his book "50 Oscar Nights." AdvertisementJane Fonda says she used to keep her Oscar trophies hidden during her marriage to political activist Tom Hayden, according to an excerpt published by People from Dave Karger's forthcoming book, "50 Oscar Nights." AdvertisementA year later, in 1991, Fonda married her third husband, CNN founder Ted Turner. Karger's book "50 Oscar Nights" is set to be released on January 23.

Persons: Jane Fonda, Tom Hayden, Dave Karger, —, Dave Karger's, Fonda, Karger, Grace, Frankie, Hayden, Troy O'Donovan Garity, Mary Luana Williams, Ted Turner, Turner Organizations: Service

☆ Citigroup Plans to Cut 20,000 Jobs
▼ + stars: | 2024-01-13 | by ( Justin Baer | ) www.wsj.com time to read: 1 min

Citigroup Chief Executive Jane Fraser took over the bank in 2021 with a mandate to streamline. Photo: EVELYN HOCKSTEIN/REUTERSCitigroup plans to eliminate some 20,000 jobs by the end of 2026, marking the next phase of the bank’s most dramatic restructuring plan in decades. The cuts will trim about 10% of Citi’s head count, which totaled 200,000 in December excluding the staff employed by a Mexico business that is being spun off. Citi detailed its cost-cutting plans on Friday, when it also announced a fourth-quarter loss.

Persons: Jane Fraser, EVELYN HOCKSTEIN Organizations: Citigroup, Citi Locations: Mexico

☆ Citigroup posts $1.8 billion fourth-quarter loss after litany of charges
▼ + stars: | 2024-01-12 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Citigroup on Friday posted a $1.8 billion fourth-quarter loss after booking several large charges tied to overseas risks, last year's regional banking crisis and CEO Jane Fraser's corporate overhaul. All told, the charges — so massive the bank preannounced their effect this week — hit quarterly earnings by $4.66 billion, or $2 per share, Citigroup said. Excluding their effect, earnings would've been 84 cents a share, the bank said. Revenue: $17.44 billion vs. $18.74 billion expected. Fraser called her company's performance "very disappointing" because of the charges but said Citigroup had made "substantial progress" simplifying the bank last year.

Persons: Jane, would've, Fraser, Mark Mason, Octavio Marenzi, Goldman Sachs, Morgan Stanley Organizations: Citigroup, LSEG, Revenue, Citi, Opimas, JPMorgan Chase, Bank of America, CNBC PRO Locations: Argentina

☆ Citigroup to cut 20,000 employees
▼ + stars: | 2024-01-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —Citigroup will lay off 20,000 employees over the next two years, CFO Mark Mason said Friday. The reduction comes after the company reported a $1.8 billion net loss for the fourth quarter of 2023, its worst quarter in 15 years. The bank expects the reduction in headcount to save $2.5 billion over the long-term. These layoffs are part of Citi CEO Jane Fraser’s years-long effort to cut red tape at the company and boost lagging profits. Citigroup CEO Jane Fraser first announced her sweeping restructuring efforts last September.

Persons: Mark Mason, Jane Fraser’s, Fraser, ”, Manson, Jane Fraser, “ We’ll, ” Fraser Organizations: New, New York CNN, Citigroup, FactSet, Citi Locations: New York, Argentina

☆ Biggest U.S. Banks Earn Billions, Even After Insurance Bill
▼ + stars: | 2024-01-12 | by ( Emily Flitter | Stacy Cowley | ) www.nytimes.com time to read: +1 min

The nation’s largest banks are churning out profits as interest rates remain high, even though the lenders have had to set aside billions of dollars to replenish a deposit insurance fund that was heavily depleted by a crisis among midsize banks last spring. Citigroup, which is in the midst of a global restructuring, reported a net loss of $1.8 billion for the quarter, compared with a profit of $2.5 billion a year earlier. In the last quarter of 2023, JPMorgan earned $9.3 billion, or $3.04 per share, compared with $11 billion a year earlier. A special assessment by the Federal Deposit Insurance Corporation had reduced per-share earnings by 74 cents, the bank said. Analysts had been expecting per-share earnings of around $3.32, so investors considered the bank’s performance to be a win once the F.D.I.C.’s one-time bill of $2.9 billion was taken into account.

Persons: Jane Fraser Organizations: JPMorgan Chase, Bank of America, Citigroup, JPMorgan, Federal Deposit Insurance Corporation Locations: Wells, Russia, Argentina

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