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The Latest Breaking News from Citi

Energy companies call for halt to price hikes as households face £5,000 bills

Several energy firms want to freeze energy bills at their current level, with a massive pot of cash that will be paid off later down the line by tax - or higher bills when prices drop again

Daily Mirror

Warning that inflation could hit 18% at start of new year

Experts forecast that Consumer Price Index inflation will reach 18.6% in January

Manchester Evening News

How high can inflation go as soaring energy prices stoke cost-of-living crisis?

Citi says 18%, official forecasts say just over 13% -- why so high and when will inflation peak?

Evening Standard

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Brits given four-month warning that inflation could hit 18%

Soaring energy bills to help send the cost of living sky high

Wales Online

UK inflation will hit 18% in early 2023, says leading bank Citi

Forecasts updated after 25% and 7% rally in gas and electricity prices respectively last week

The Guardian - UK

Inflation could almost double to 18.6% - as experts warn energy bills will top £5,800

Experts warn that inflation may rise by even more than the Bank of England fears, with energy bill rises pushing up the overall cost of living for millions of households

Daily Mirror

UK inflation set to ‘enter the stratosphere’ and hit 18.6% by January as gas prices continue to surge

Dire new forecast says energy bills will reach £5,816 in April

The Independent UK

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Cost-of-living crisis: Shock warning on 18% inflation

City experts’ fears over energy price surge and claim rates could hit 7%

Evening Standard

Inflation will hit 18.6 per cent in January, investment bank predicts

INVESTMENT bank Citi has predicted that UK inflation is on course to rise to 18.6 per cent in January – the highest peak in almost half a century.

The National (Scotland)

Citigroup hit with £12.6 million fine by main City market watchdog

FCA finds the bank failed to reach requirements on surveillance to identify market abuse

Evening Standard

Airtel Africa signs up for $125 million credit pact with Citi

MUMBAI: Airtel Africa has signed up for a $125 million revolving facility from American banking major Citi.

The Times of India

Western Digital Price Target Cut By Analysts Post Q4 Beat

Western Digital Corp (NASDAQ:WDC) clocked 8% year-on-year revenue growth to $4.53 billion in Q4, beating the consensus of $4.49 billion. Non-GAAP EPS of $1.78 beat the consensus of $1.68. Barclays analyst Tom O'Malley had an Equal Weight and $55 price target. The market expected a reset, but the depths of decline and the exclusion…

Benzinga

How to save on back-to-school items during tax-free shopping days

There’s no dispute that the cost of consumer goods is soaring. The U.S. inflation rate rose 9.1 percent for the 12 months ending June 2022. With rising prices across many sectors, the prospect of shopping for your child’s school items can be daunting. What was once economical may now be…

Tribune News Service

Four ways your TV subscriptions could change because of the cost of living crisis

UK households are cancelling streaming service subscriptions, citing the need to cut comforts to afford increasingly expensive necessities such as food and fuel.

The Conversation

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Bangkok Post

Citi, ShopeePay team for top-up service

Citi Thailand has partnered with ShopeePay to launch a quick transfer service on the platform for convenient and secure payments.

StockNews.com

Citi Downgrades Six Flags From Buy to Neutral. Should You Buy the Dip?

Shares of Six Flags Entertainment (SIX) have plunged significantly in price after Citi recently downgraded its shares, citing falling attendance due to rising inflation. So, would it be worth buying its shares at the current price level? Let’s find out.

The New Daily

Where to earn the highest rates on your savings

The top 10 savings accounts offer a chance to earn decent returns on cash deposits – especially if you are happy to make the move to a new bank.

Bangkok Post

Citi joins Man Group and PineBridge as bullish on China stocks

The trickle of positive calls on Chinese equities has turned into a flood as a recent easing of coronavirus curbs and pledges of more stimulus help revive sentiment.

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Benzinga

Citi Remains Unfazed By Enron Collapse Predictor's Bearishness On These Data Center Stocks

Citi analyst Michael Rollins noted data center stocks Equinix, Inc (NASDAQ:EQIX), Digital Realty Trust, Inc (NYSE:DLR), Cyxtera Technologies, Inc (NASDAQ:CYXT) were down an average of >5% on July 1 on reports (including Financial Times) that an investor is "betting against 'legacy' data centers that now face growing competition from the trio of tech giants that have been…

Benzinga

Citigroup Negotiating With Local Bidders For Its Russian Operations: FT

Citigroup Inc (NYSE:C) is in talks with local buyers in Russia over a potential sale of its operations in the country, the Financial Times reported, citing people familiar with the matter. The bank is in negotiations with privately-owned Russian companies, including Expobank and insurance company Reso-Garantia for the divestiture, the report said.…

Bangkok Post

Citi bullish on Thailand

Global economic headwinds notwithstanding, prospects for the Thai economy remain bright, according to Peter Babej, Asia-Pacific chief executive officer for Citi.

The Guardian - US

Many US companies move to pay travel costs for employees seeking abortions

Tech firms and banks, including Bank of America, Goldman Sachs, Citigroup and JPMorgan Chase, add ‘critical healthcare’ package

Benzinga

Citi Sees Gross Margin Expansion Ahead For Spotify

Citi analyst Jason B. Bazinet noted that Spotify Technology S.A. (NYSE: SPOT) has been building a broader audio platform that spans both Music and Podcasts for several years. He noted that these investments have not helped or hurt gross margins.

Benzinga

Citi's Key Takeaways On Amazon's Recent Management Reshuffle

Citi analyst Ronald Josey revisited Amazon.com Inc's (NASDAQ:AMZN), naming veteran executive Doug Herrington as CEO of Worldwide Amazon Stores (renamed from Worldwide Consumer) and promoting John Felton as its new head of Operations. Given this announcement comes ~2 weeks post Dave Clark's resignation, Josey expected minimal disruption to store operations. While Josey recognized the challenges…

Benzinga

Citibank Selects METACO, Swiss Firm, For Institutional Cryptocurrency Custody

Citibank (NYSE: C) has partnered with METACO to use its technology to develop and lead virtual asset custody abilities.

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