|Day's range||0.3500 - 0.3700|
Since the beginning of 2021, Citigroup (NYSE: C) has been working on a multiyear plan to modernize and simplify the bank, focus on better-performing businesses, and ultimately boost returns, which management hopes will lead to a higher valuation and stock price. A key part of this plan had been selling the consumer, small business, and middle-market banking arm in Citigroup's Mexican subsidiary, Citibanamex, which has been a high-performing business. Citigroup has been divesting most of its international consumer banking franchises that lack adequate scale.
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Citigroup's (C) IPO of its Banamex business in Mexico is expected to occur in 2025. Share buybacks, paused due to sale uncertainty, will restart in Q2, albeit at moderate levels.
Bank of America (BAC) plans to eliminate nearly 40 positions in Asia's IB division as worsening macroeconomic conditions continue to hamper deal making in the region. The affected employees have been asked to apply for roles in other units.
Citi (C), Deutsche Bank (DB), HSBC, Morgan Stanley (MS) and Royal Bank of Canada (RY) have allegedly conspired in chat rooms to swap sensitive information on UK bonds between 2009 and 2013.
Florida Public Utilities Company, Eastern Shore Natural Gas Company and Aspire Energy of Ohio, subsidiaries of Chesapeake Utilities Corporation (NYSE:CPK), were recognized by the American Gas Association (AGA) as top safety performers in 2022. The awards were presented at the 2023 AGA Operations Conference, which is the natural gas industry's premier gathering of natural gas utility and transmission company operations management from across North America.
(Bloomberg) -- German Larrea Mota Velasco, the elusive billionaire who inherited and expanded a mining fortune, is suddenly Exhibit A for the difficulties of doing business in Mexico under an unpredictable president.Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchUS Credit Rating at Risk of Fitch Cut on Debt-Limit ImpasseWorld’s Biggest Nuclear Plant May Stay Closed Due to Papers Left on Car Ro
(Bloomberg) -- Citigroup Inc. spent 16 months preparing its Banamex unit for a sale that ultimately fizzled after meddling by Mexican President Andres Manuel Lopez Obrador. Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchUS Credit Rating at Risk of Fitch Cut on Debt-Limit ImpasseWorld’s Biggest Nuclear Plant May Stay Closed Due to Papers Left on Car RoofFirst Republic’s $35 Million Banker Outea
One way or another, Citigroup is ready to bid adiós to its Mexico-based Banamex unit. After an attempt to sell Banamex proved fruitless, Citigroup...
Citigroup has said it will spin off its Mexican retail bank through an initial public offering, abandoning a plan hatched early last year to sell the unit. The US lender plans to completely separate its Banamex division, which has 38,000 employees and is one of the largest consumer banking franchises in Mexico, by the middle of next year. The bank said an IPO of the unit was likely by the end of 2025.
(Bloomberg) -- Citigroup Inc. plans to sell shares of its Banamex unit in an initial public offering, ending talks for a potential $7 billion divestiture to a local buyer in a deal that faced complications from Mexico’s president.Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchUS Credit Rating at Risk of Fitch Cut on Debt-Limit ImpasseWorld’s Biggest Nuclear Plant May Stay Closed Due to Papers
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Yahoo Finance markets contributor Remy Blaire discusses trending stocks, including Citigroup announcing it will pursue an IPO for Banamex, Petco stock falling on soft guidance, and Abercrombie & Fitch shares rising after its Q1 earnings beat.
(Bloomberg) -- Citigroup Inc.’s Banamex “could represent a good opportunity” for Mexico to own a bank, President Andres Manuel Lopez Obrador said Wednesday after the US bank announced that it would halt a direct sale of the unit. Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchMcCarthy, Graves Signal Impasse in White House Debt TalksLula Lashes Out and Sends Warning to Central Bankers Everywher
NEW YORK, May 24, 2023--Citi today announced it will pursue an initial public offering (IPO) of its consumer, small business and middle-market banking operations in Mexico (the "Business") following the planned separation of its leading institutional business that will remain part of Citi. As previously disclosed, Citi had been pursuing a dual process to exit the Business, including preparation for a possible IPO, with a commitment to deliver maximum value to its shareholders.
DirectBooks announced today that BMO Capital Markets, Blaylock Van, and American Veterans Group have joined the platform. These recent additions increase the total number of underwriters on DirectBooks to 31, including 5 diversity underwriting firms, and complements a community of more than 375 institutional investors. The core offering now consists of Investment Grade, Emerging Markets, High Yield, and Sovereigns, Supranationals & Agencies (SSAs) issuances across USD, EUR and GBP markets.
For many, the main point of investing is to generate higher returns than the overall market. But even the best stock...
NEW YORK, May 19, 2023--Jane Fraser, Chief Executive Officer of Citi, will present at Bernstein’s 39th Annual Strategic Decisions Conference on Friday, June 2. The presentation is expected to begin at approximately 11:00 a.m. (Eastern). A live webcast will be available at http://www.citigroup.com/citi/investor. A replay and transcript of the webcast will be available shortly after the event.
NEW YORK, May 17, 2023--Citigroup Inc. is announcing the redemption, in whole, constituting $1,250,000,000 of its 4.044% Fixed Rate / Floating Rate Notes due 2024 (the "fixed rate / floating rate notes") (ISIN: US172967LZ20), and the redemption, in whole, constituting $1,000,000,000 of its Floating Rate Notes due 2024 (the "floating rate notes" and together with the fixed rate / floating rate notes, the "notes") (ISIN: US172967MA69).
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A significant slowdown in IB business prompts Morgan Stanley (MS) to cut almost 7% of jobs in the Asia-Pacific region.
Citigroup (C) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The Oracle of Omaha has made it clear that he is still cautious about holding many bank stocks.
Barclays (BCS) intends to close 15 more branches in England, Scotland and Wales in the coming months.