Musk will attend a virtual all-hands meeting as his $44 billion acquisition of the company moves ahead, despite his hand-wringing about bots.
Tag Archives: Citigroup Inc
The Rules for Hybrid Work Were Always Made Up
As more and more workplaces pause or end the expectation of three days a week in the office, a large-scale return may never be on the horizon.
Invade Haiti, Wall Street Urged. The U.S. Obliged.
The long occupation of Haiti began with a drumbeat from the bank that became Citigroup, decades of diplomatic correspondence and other records show.
How Much Haiti’s Freedom Cost: Takeaways From a Times Series
How did the modern world’s most successful slave revolt give birth to a desperately poor nation? Here is a summary of what a team of New York Times correspondents found out.
Taking the Fight for Safe, Legal Abortion to the States
A novel Michigan lawsuit will attempt to continue to make abortion available
Wall Street Banks Are Getting Flexible on Working From Home
Many big banks are offering flexible working arrangements — sometimes grudgingly — as they chase talent that would rather stay home.
Citigroup Will Pay Travel Costs for Employee Abortions in Response to Texas Law
Citigroup is the first major U.S. bank to announce a policy change in response to the legislation, which bans abortions after six weeks of pregnancy.
Russia appears to have avoided default as it makes a $117 million bond payment.
Sanctions have isolated the country financially, driven down the value of the ruble and cut off Moscow’s access to about half its foreign currency reserves.
Fraud Is Flourishing on Zelle. The Banks Say It’s Not Their Problem.
Zelle, the payments platform used by millions of customers, is a popular target of scammers. But banks have been reluctant to make fraud victims whole — despite owning the system.
Citigroup to Get Rid of Overdraft Fees, the Biggest Bank to Do So
The fees have been criticized by regulators. Citi’s move follows similar actions by smaller lenders like Capital One and Ally Financial.
Wall Street Fights to Keep Talent, but Money Isn’t Always Enough
Banks are raising pay to fend off investment firms, fintechs and crypto start-ups. Still, leaving is often about something other than “always having more and more.”
Older Americans Fight to Make America Better
We don’t want to leave the world a worse place than we found it.
Stocks climb as investors weigh a surprising jobs report and Amazon earnings.
Investors took the strong jobs showing as a reason for the Federal Reserve to move quickly as it starts to raise interest rates this year.
Goldman Sachs Follows Wall Street Rivals in Asking Staff to Work From Home
In a shift in policy as Covid cases rise, the Wall Street firm urged U.S. employees who can work remotely to do so until Jan. 18.
Wall Street Warms Up, Grudgingly, to Remote Work, Unthinkable Before Covid
Finance employees who couldn’t imagine working from home before the pandemic are now reluctant to return to the office. Their bosses can’t figure out how to bring them back.
Wall Street Is Finally Getting Access to China. But for How Long?
Citigroup, JPMorgan Chase and Goldman Sachs are among those eyeing huge potential profits, undeterred by Beijing’s sudden policy changes and friction with the United States.
Wall Street Sees a Record-Deal Spree as a Reason for Optimism
Fees from advising corporate clients on mergers and other deals raised bottom lines across Wall Street. Bankers say it’s a good sign for the recovery.
Loans Will Be the Key to Banks’ Future Fortunes
The big banks are expected to benefit from increased consumer spending when they report earnings this week. Where they go from here will depend greatly on lending to households and businesses.
Finance Executives Say Risk of Default Is Already Damaging the Economy
Shortly after the C.E.O.s met with President Biden, Senator Mitch McConnell said he would allow Democrats to raise the debt ceiling enough to push a potential default to December.
Soho House Is Going Public, With Questions About Its Business
Soho House will begin trading. All eyes are on whether stock market investors will sign up.
Bank profits are poised to surge as the pandemic recedes.
The country’s biggest banks will report their quarterly earnings this week, reaping the benefits of an economy that’s returning to normal.
Citi Creates ‘Zoom-Free Fridays’ to Combat Covid-19 Pandemic Fatigue
The bank plans to have one day each week when workers can avoid being on-camera for internal calls. “We are all feeling the weariness,” Citi’s chief executive said.
Citigroup’s $900 Million Defeat
Citi committed “one of the biggest blunders in banking history,” a federal judge says.
Incoming Citigroup C.E.O. Jane Fraser Faces Major Turnaround Job
The incoming C.E.O. of Citi wants to take a more global approach to issues and expand banking services for poor Americans even as the bank faces pressure to get itself in shape.
Ray McGuire Has It All. He Still Wants to Be N.Y.C. Mayor.
Raymond McGuire has lived a grand New York life, conquering Wall Street and kibitzing with Steve Martin. But in his campaign for mayor, he is eager to reach beyond his wealthy supporters.
Big Banks’ Earnings Reflect the U.S. Economy Joe Biden Is Inheriting
Big banks are sending mixed signals.
With Vaccines and Stimulus on the Way, Banks Brighten Their Outlook
The biggest banks in the United States have begun to pare back the enormous reserves they had socked away in case of an economic disaster.
AT&T, JPMorgan and Coca-Cola Pull Back Political Giving Following Capitol Riots
AT&T and Marriott were among companies that will stop campaign contributions to lawmakers who objected to certifying the election. Other companies, such as JPMorgan, paused all political donations.
Paid Time Off, Free Fries: How Corporate America Is Getting Out the Vote
Spurred by recent social unrest, many U.S. companies are trying to make it easier for workers, and urging their customers, to cast their ballots.
Could Ray McGuire Be N.Y.C.’s 2nd Black Mayor?
One of the highest-ranking and longest-serving Black executives on Wall Street is entering the Democratic race eight months before the primary.
Ray McGuire, Wall Street Executive, Enters N.Y.C. Mayor’s Race
Business leaders encouraged Mr. McGuire to seek the Democratic nomination, saying his background would help the city and its economy recover from the pandemic.
Despite Billions in Fees, Banks Predict Meager Profits on P.P.P. Loans
Banks collected at least $13 billion in fees on Paycheck Protection Program loans, according to a New York Times analysis. But the largest lenders say costs wiped out most of what they took in.
Citigroup’s Jane Fraser to Become Chief Executive
Jane Fraser, Citigroup’s president, will replace Chief Executive Michael Corbat in February as he retires.
Businesses Are Supposed to Cut Debt in a Downturn. Why Not Now?
The Federal Reserve’s efforts to stabilize markets have touched off an even bigger borrowing binge than corporate America was already on.
Banks Stockpile Billions as They Prepare for Things to Get Worse
JPMorgan Chase, Citigroup and Wells Fargo said that as long as the economy behaved according to their forecasts, they were braced for more pandemic-induced pain.
Stocks Generate Big Gains and Bigger Questions
A powerful rally during drastically deteriorating economic conditions has left the market richly valued and facing great uncertainty.
‘Banking While Black’: How Cashing a Check Can Be a Minefield
Black customers risk being racially profiled on everyday visits to bank branches. Under federal laws, there is little recourse as long as the banks ultimately complete their transactions.
Boxed Lunches and Plexiglass Will Welcome Back Wall Street’s Workers
The finance industry will return to its offices this month, but the landscape is likely to be altered for many months to come.
Corporate Voices Get Behind ‘Black Lives Matter’ Cause
Major companies are often wary of conflict, especially in a polarized time. But some are now taking a stand on racial injustice and police violence.
Bankers Scold S.B.A. as Loan System Crashes in Flood of Applications
The government started taking applications Monday for a further $310 billion in emergency funds, and quickly ran into technical problems.
Banks Gave Richest Clients ‘Concierge Treatment’ for Pandemic Aid
Some businesses seeking coronavirus loans got to avoid flaky online portals or backed-up queues. Many other small businesses couldn’t get their loan requests submitted before the money dried up.
Classic Skyscrapers Define New York. Take a Virtual Tour.
The epitome of the ‘Mad Men’ era, the sleek midcentury buildings of Park Avenue glimmer. Our critic strolls with the architect Annabelle Selldorf.
Loan Money Runs Out While Small-Business Owners Wait in Line
Frustrated with the process and banks, they have to figure out how to stay afloat while Congress tries to come up with more funding.
SBA Loan Program Starts As Small Businesses Make Urgent Applications
A $349 billion program to throw them a financial lifeline got off to a rocky start on Friday as the U.S. economy continued to seize up.