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Business

“AI startup Glean lures Citigroup as investor at $2.2 billion valuation after revenue quadruples”

“… …” https://www.cnbc.com/2024/02/27/glean-is-worth-2point2-billion-as-citigroup-databricks-workday-invest.html Right now AI is where the money is.

Banking, Business

“Citigroup considering at least 10% job cuts in major businesses…”

“Citigroup’s managers and consultants working on CEO Jane Fraser’s reorganization have discussed job cuts of at least 10% in several major businesses, CNBC reported on Monday, citing people with knowledge of the process… Last month, Citi said it would cut… Continue Reading…

Banking

“Citigroup’s fourth-quarter profit declines by 21% as bank sets aside more money for credit losses”

“Citigroup said fourth-quarter net income decreased by more than 21% from a year ago as the bank set aside more money for potential credit losses. Shares were up 0.74% as investors looked to some positives in the report including a record… Continue Reading…

Banking

“Citigroup reports 25% decline in third-quarter profits but tops revenue expectations”

“Citigroup said Friday that its third-quarter earnings fell 25% as it bulked up its credit loss provisions and investment banking slumped. However, Citi shares gained more than 2% as revenue climbed more than analysts expected, helped by rising interest rates, and… Continue Reading…

Stocks

“Citigroup Warns of Coming Losses in U.S. Stock Market”

“EDITOR NOTE: Citigroup is the latest financial institution to warn investors about significant losses in the stock market in the near future. “Our panic/euphoria model remains very elevated and is warning of coming losses,” the bank’s analysts say. These experts… Continue Reading…

Economy

“Citi Has a Message for Oil Bulls: $60 Oil to Return by 2021”

“Citigroup Inc. has a message to cheer up despairing oil bulls: prices will get back to $60 a barrel before the end of 2021… It will take until late 2021 for global oil consumption to return to the 2019 level… Continue Reading…