Citi profit beats estimates, takes $483 mln charge tied to severance costs

The arrival of Viswas Raghavan, former investment banking co-head at JPMorgan Chase, in the summer to run the banking division will also help to boost results, executives said. Wealth management, a ... Read More

Money Tree: The Bloomberg Open, Asia Edition

Good morning. Goldman jumps after a big earnings beat. Tesla plans major layoffs. And Meta wants to bring VR headsets into classrooms. Read More

Bank of America Q1 better than estimate but profit drops as provisions rise

Bank of America set aside $1.3 billion in provisions in the first quarter, up from $931 million a year earlier. It also took more writedowns on office loans, which partly increased loan losses for its ... Read More

News updates from April 23: Tesla to speed up launch of ‘affordable’ models; US regulator bans non-compete agreements

Russia’s deputy defence minister Timur Ivanov has been detained on suspicion of receiving a bribe, the country’s top investigative police agency has said. “Corresponding investigative actions are ... Read More

Citi profit falls on severance costs from reorganization while stock slides

Citigroup's first-quarter profit fell 27% as the bank took charges related to its reorganization, although it beat expectations as revenues grew in key divisions. Read More

FTSE 100 Live 22 April: Index closes at record high, Asda sales rise, Hipgnosis bid war

Smaller companies are exiting the stock market apace, finding the benefits of being in it far exceeded by the hassle. Peel Hunt predicted today that the FTSE Small Cap index will cease to exist ... Read More

Bank of America Profit Hurt by Losses on Credit Cards, Office Loans

(Reuters) - Bank of America's profit fell on Tuesday as the lender earned less from customer interest payments. BofA's net interest income (NII) -- the difference between what it earns on loans and ... Read More

Citigroup’s quarterly profit falls on severance costs from reorganization

Citi’s net income fell to $3.4-billion, or $1.58 per share, in the three months ended March 31, the bank said on Friday ... Read More

Live news: Former UK Ministry of Defence employee sentenced to prison after Saudi bribery case

A former UK Ministry of Defence employee has been sentenced to more than two years in prison after being convicted in a long-running Saudi bribery investigation. Jeffrey Cook, 67, ... Read More

Stock market today: Stocks slide after GDP report prompts inflation, growth concerns

Meta's AI reality check has dented hopes for a Big Tech revival for stocks, with a GDP update showing the US economy grew slower than expected in the first quarter. Read More

Stock market today: Tesla surges 12%, stocks go nowhere amid earnings rush

The major stock indexes were little changed Wednesday as Tesla (TSLA) surged in the aftermath of its earnings report and investors awaited more quarterly updates. The Nasdaq Composite (^IXIC) finished ... Read More

Citi profit beats estimates, takes $483mn charge tied to severance costs

Citigroup’s first-quarter profit fell 27% but beat market expectations on Friday, while taking a $483 million charge tied to CEO Jane Fraser’s sweeping reorganization. Net income fell to $3.4 billion, ... Read More