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The Latest Breaking News from Citigroup

Citigroup wealth unit halts margin loans on Gautam Adani securities

Citigroup Inc’s wealth arm has stopped accepting securities of Gautam Adani’s group of firms as collateral for margin loans as banks ramp up scrutiny of the Indian tycoon’s finances following allegations of fraud by short seller Hindenburg Research.

The Times of India

How China’s Yuan Props up Putin’s Anemic Budget

Russia has started selling its growing reserves of the Chinese currency to fill a budget deficit caused by falling oil and gas revenues and the costs of war.

The News Lens

Are voters stuck with George Santos?

The newly elected fabulist's web of lies won't necessarily get him ejected, but it raises ethical concerns

Salon

From analysis to the latest developments in health,
read the most diverse news in one place.

These major banks see a "mild recession" coming in 2023

JPMorgan Chase, Bank of America and Citigroup are bracing for an economic downturn in 2023, including an uptick in unemployment, even as they continue to benefit from strong consumer spending and higher interest rates.

Axios

Voters have few options to remove George Santos from Congress – aside from waiting until the next election

There are mounting calls from both politicians and voters to force the newly elected apparent fabulist U.S. Rep. George Santos from Congress following revelations he fabricated his background and other details of his life.

The Conversation

Jamie Dimon is waffling on his economic ‘hurricane’ take yet again. His bank is now calling a ‘mild recession’ later this year

Wall Street banks are building cash reserves to cope with a “mild recession.” It’s a more optimistic outlook than some CEOs have previously offered.

Fortune

The GOP war on green investing

From the U.S. House to state governments, the GOP takes aim at pro-climate finance strategies

Salon

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Crypto took such a beating in 2022 that U.S. regulators have teamed up for the first time to sound the alarm to banks

Deutsche Bank, Wells Fargo, Citigroup and Bank of America have all invested in crypto staffing divisions in recent years.

Fortune

Citigroup Passed On Alameda Research Partnership Due To Lack Of Risk Management: Report

Banking giant Citigroup considered partnering with Alameda Research, now-bankrupt crypto trading firm, to launch a crypto lending.

Zenger

China’s economy ends year in slump as Covid infections surge

China’s economy ended the year in a major slump as business and consumer spending plunged in December, with more disruption likely in the first few months of the year as Covid infections surge across the country.

The Times of India

New congressman admits lying about background and pretending to be 'Jew-ish'

Republican rep for New York, George Santos, admitted "sins" of "embellishing" his resume and that his false claim of being Jewish was due to a tenuous maternal link, which he refered to as being "Jew-ish"

Daily Mirror

Newly elected US congressman admits his life story is all made up

From his education, to his heritage, George Santos has admitted he "embellished" during his successful campaign.

The New Daily

Democrats call for GOP faker to quit

George Santos says he's sorry for "having embellished his résumé" — but his claim to be Jewish might sink him

Salon

Looking for votes, GOP leader McCarthy might have to look past Rep.-elect Santos' serial fabrications

WASHINGTON — U.S. Rep.-elect George Santos’ serial fabrications about his life story sets up a key test for Republican leader Kevin McCarthy, who’s struggling to win next week’s vote for House speaker.

Tribune News Service

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Reason

"Liar Rep.-Elect George Santos Admits Fabricating Key Details of His Bio"

The New York Post (Victor Nava & Carl Campanile) reports: "My sins here are embellishing my resume. I'm sorry," Santos said Monday. Santos confessed he had "never worked directly" for Goldman Sachs and Citigroup, chalking that fib up to a "poor choice of words." The 34-year-old now claims instead that…

The Times of India

Wall Street’s big banks score $1 trillion of profit in a decade

Malick Diop felt something shifting on Wall Street.

The Independent UK

Newly elected Republican admits to lying about his background but insists he won’t step down

Santos won Long Island’s Nassau County seat in midterm elections

The Independent UK

Embattled GOP congressman-elect George Santos promises to address holes in resume next week

Democrats jump on New Yorker’s apparent fictions after failing to weaponise them during 2022 midterms

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news in one place.

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The Independent UK

Rep.-elect George Santos silent amid questions about resume

A Republican who won a seat in the U.S. House in the November election is under pressure to explain himself amid evidence he fabricated parts of his life story

The Independent UK

GOP congressman-elect responds to accusations of faking his background story with a fake quote

George Santos’s election was key to the GOP attaining majority in the House

The Guardian - US

Republican congressman George Santos reportedly fabricated parts of résumé

The incoming congressman’s biography is now being re-examined as opponent claims Santos was ‘running a scam against the voters’

Axios

The murky details in one congressman-elect's campaign biography

A new report raises serious questions about Rep.-elect George Santos' résumé.

Fortune

Goldman Sachs weighs 40% cut on investment banker bonuses

As Wall Street goes from feast to famine, Goldman Sachs is reportedly weighing the largest cuts to banker bonuses since the 2008 financial crisis

Fortune

How CEOs can lead in a recession and come out stronger: 5 powerful strategies from corner-office veterans

Battle-tested business leaders from CVS, Southwest Airlines, Honeywell and other Fortune 500 companies share their best ideas for navigating a downturn.

Benzinga

Citigroup Unusual Options Activity

Someone with a lot of money to spend has taken a bullish stance on Citigroup (NYSE:C). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

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