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The Latest Breaking News from Citi

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.…

Benzinga

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.

Bangkok Post

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

The Guardian - US

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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.

Benzinga

Boeing Says Supply Chain Issues To Persist Through Majority Of 2023

Boeing Co (NYSE:BA) expects supply chain problems to persist almost until the end of 2023, led by labor shortages at mid-tier and smaller suppliers, partly due to the faster-than-expected return of demand, reported Reuters, citing BA's chief executive on Wednesday. "The shift from demand to now supply issues ... is remarkable, the…

Benzinga

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Latest economic data hints at new era of slower growth

Economic reports are falling short of expectations by more than we've seen since the initial shock of COVID crisis

Axios

Should You Pick Up Nokia After Citi Upgrade?

Shares of Nokia (NOK) have declined in price despite its strong financial results and relatively high profitability. However, can the stock rebound as Citigroup upgrades its recommendation? Read on to find out.

StockNews.com

Revlon bankruptcy complicated by Citi’s $900mn error

Data entry mistake in 2020 leads to infighting among creditors of indebted US cosmetics group

Financial Times

3 Things You Need To Know Today

Daily Market News

Benzinga

Citi Turns Bullish On Boeing - Read Why

Citi analyst Charles J Armitage upgraded the aerospace and defense firm Boeing Co (NYSE:BA) to Buy/High Risk from Neutral and lowered the price target to $209 (implying an upside of 56.3%) from $219. The analyst seeks to value Boeing on the assumption that the (significant) medium-term risks can be mitigated while also quantifying those risks.…

Benzinga

Citi Reiterated Neutral Rating On Intel, AMD - Read Why

Citi analysts Christopher Danely and Kelsey Chia observed that May notebook shipments were up 22% month on month, below Citi's expectation of up 29% due to demand deceleration. This is the fifth consecutive month where notebook shipments were below expectations.

Benzinga

Cosmetics Maker Revlon Nears Chapter 11 Filing

Revlon Inc. is preparing to file for chapter 11 protection as soon as this week after struggling for years with too much debt, stiff competition in the cosmetics business and more recent inflation and supply-chain pressures, people familiar with the matter said.

Bangkok Post

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Benzinga

Here's Why Citi Is Incrementally Bullish On FleetCor, WEX

Citi analyst Peter Christiansen expressed incremental bullishness on FleetCor Technologies, Inc (NYSE:FLT) and WEX Inc (NYSE:WEX), lifting estimates and target prices on both, given rising fuel prices and solid demand signs. As a reminder, the incremental flow-through on higher fuel was highly margin-accretive. Christiansen upgraded WEX from Neutral to Buy on higher fuel and increased…

Benzinga

Read Why Citi Remains Bearish On Oxford Industries

Citi analyst Paul Lejuez raised the price target on Oxford Industries Inc (NYSE: OXM) to $92 (6% downside) from $86. Meanwhile, the analyst kept the Sell rating on the shares.

Benzinga

Intel Goes On Austerity Drive To Take On Rivals Like TSMC

Intel Corp (NASDAQ: INTC) has paused hiring in the PC desktop and laptop chips division as part of cost-cutting measures, Reuters reports. In its most recent quarter, Intel's client computing group raked $9.3 billion of its $18.4 billion in revenue. Intel could resume some hires within two weeks after the division re-evaluates priorities to…

Benzinga

Citi Sees Intel's Bear Case Taking Shape Sooner Than Expected

At a competitor conference on June 7, Intel Corp (NASDAQ:INTC) appeared to talk down the quarter as company management mentioned that circumstances were worse than expected during the quarter due to reduced inventory levels at customers and delays in normalization post-COVID lockdowns in China. Previously, Citi published multiple updates on flagging PC…

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Benzinga

Citi Recommends Nvidia, Marvell To Seek Refuge Amid Semiconductor Downturn

Citi hosted meetings at NVIDIA Corp (NASDAQ:NVDA), Applied Materials, Inc (NASDAQ:AMAT), and Marvell Technology, Inc (NASDAQ:MRVL) as part of the Annual Silicon Valley Tech Bus Tour. Marvell confirmed a lack of slowdown in cloud data center demand and a disproportionate amount of growth or 50%+ coming from new product cycles. Applied Materials looked to benefit from…

Benzinga

Citi Aggressively Chases Growth In Asia, Especially China Amid Odds

In an interview with Reuters, Citigroup, Inc (NYSE:C) Asia chief shared plans to appoint 3,000 new employees for its Asia institutional business in the next few years. Asia became a battlefield for global banks chasing its vast economies, growing wealth, and relative growth beat most other places. Peter Babej saw the accumulated wealth…

Benzinga

Citigroup Looks To Hire Over 4K Tech Specialists To Tap Pandemic Induced Digital Boom

Citigroup, Inc (NYSE:C) looks to hire over 4,000 tech staff to help shift its institutional clients online following the pandemic, Bloomberg quoted from an interview with Jonathan Lofthouse. The head of markets and enterprise risk technology acknowledged that over 1,000 recruits would join the market technology team under an aggressive growth strategy. It…

Benzinga

Citi's Fat-Finger Gaffe Could Cost It Over $50M

Citigroup, Inc (NYSE:C) could cough up losses of over $50 million following a London-based worker's fat-finger trade, causing a flash crash in European stocks in May, Reuters reports. Citi is still tallying losses from the erroneous trade, and the final figure could further mount. A trader in the London's Delta One trading…

Daily Mirror

Shocking moment a gust of wind almost knocked over world's 7th tallest building

In 1978 an undergraduate student at Princeton University cold called an architect’s office and helped prevent one of the world’s tallest buildings from being knocked over in New York

Kiplinger

Should You Use a Credit Card Travel Portal?

Some credit cards come with travel portals, where you can redeem points and miles for trips. Is it the best option?

StockNews.com

3 Warren Buffett Bank Stocks That Yield More Than 3%

Concerns over heightened inflation pressures and the Federal Reserve's aggressive interest rate hikes have increased volatility. Given recession concerns, dividend stocks ensure a regular income stream and could be wise. Thus, Warren Buffett's dividend-paying bank stocks, The Bank of New York (BK), Citigroup (C), and U.S. Bancorp (USB), could be…

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