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-inc, #fraser-jane-1967, #quarantine-life-and-culture, #videophones-and-videoconferencing, #work-life-balance, #zoom-video-communications

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Citigroup’s $900 Million Defeat

Citi committed “one of the biggest blunders in banking history,” a federal judge says.

#banking-and-financial-institutions, #carlyle-group-lp, #citadel-investment-group, #citigroup-inc, #corporate-social-responsibility, #greenhouse-gas-emissions, #robinhood-financial-llc

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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.

#appointments-and-executive-changes, #banking-and-financial-institutions, #citigroup-inc, #corbat-michael-l, #fraser-jane-1967, #women-and-girls

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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.

#art, #bloomberg-michael-r, #citigroup-inc, #elections-mayors, #mcguire-raymond-j, #new-york-city

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Big Banks’ Earnings Reflect the U.S. Economy Joe Biden Is Inheriting

Big banks are sending mixed signals.

#amazon-com-inc, #bank-of-america-corporation, #banking-and-financial-institutions, #citigroup-inc, #coronavirus-2019-ncov, #executive-orders-and-memorandums, #goldman-sachs-group-inc, #jpmorgan-chasecompany, #morgan-stanley, #stimulus-economic, #united-states-economy, #vaccination-and-immunization, #wells-fargocompany

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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.

#banking-and-financial-institutions, #citigroup-inc, #credit-and-debt, #jpmorgan-chasecompany, #united-states-economy

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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.

#att-inc, #charles-schwab-corporation, #citigroup-inc, #corporations, #cruz-ted, #facebook-inc, #fedex-corporation, #goldman-sachs-group-inc, #hawley-josh-d-1979, #jpmorgan-chasecompany, #lincoln-project, #lobbying-and-lobbyists, #marriott-international-inc, #morgan-stanley, #political-action-committees, #politics-and-government, #presidential-transition-us, #storming-of-the-us-capitol-jan-2021, #trump-donald-j, #twitter, #united-states, #united-states-politics-and-government, #walmart-stores-inc

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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.

#amazon-com-inc, #burch-tory, #citigroup-inc, #coca-cola-company, #corporations, #diageo-plc, #jpmorgan-chasecompany, #kenna-corley, #paid-time-off, #patagonia-inc, #presidential-election-of-2020, #united-states-politics-and-government, #voter-registration-and-requirements

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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. 

#adams-eric-l, #black-people, #citigroup-inc, #elections-mayors, #mcguire-raymond-j, #new-york-city, #stringer-scott-m

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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.

#black-people, #citigroup-inc, #democratic-party, #elections-mayors, #mcguire-raymond-j, #new-york-city, #race-and-ethnicity

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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.

#bank-of-america-corporation, #banking-and-financial-institutions, #citigroup-inc, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #jpmorgan-chasecompany, #philanthropy, #wells-fargocompany

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Citigroup’s Jane Fraser to Become Chief Executive

Jane Fraser, Citigroup’s president, will replace Chief Executive Michael Corbat in February as he retires.

#appointments-and-executive-changes, #banking-and-financial-institutions, #citigroup-inc, #corbat-michael-l, #fraser-jane-1967

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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.

#abercrombiefitch-co, #banking-and-financial-institutions, #citigroup-inc, #credit-and-debt, #expedia-inc, #federal-reserve-system, #jpmorgan-chasecompany, #live-nation-entertainment-inc, #recession-and-depression, #stocks-and-bonds, #united-states-economy

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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.

#banking-and-financial-institutions, #citigroup-inc, #company-reports, #coronavirus-2019-ncov, #credit-and-debt, #jpmorgan-chasecompany, #piepszak-jennifer, #scharf-charles-w, #united-states-economy, #wells-fargocompany

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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-and-financial-institutions, #brazil, #citigroup-inc, #cnbc, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #credit-and-debt, #europe, #federal-reserve-system, #house-of-representatives, #inflation-economics, #interest-rates, #japan, #latin-america, #morningstar-inc, #personal-finances, #prices-fares-fees-and-rates, #quarantines, #recession-and-depression, #second-quarter-2020, #senate, #shutdowns-institutional, #standardpoors-500-stock-index, #stocks-and-bonds, #unemployment, #united-states-economy, #united-states-politics-and-government, #university-of-california-los-angeles

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‘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.

#bank-of-america-corporation, #banking-and-financial-institutions, #black-lives-matter-movement, #black-people, #citigroup-inc, #civil-rights-and-liberties, #customer-relations, #discrimination, #george-floyd-protests-2020, #jpmorgan-chasecompany, #law-and-legislation, #race-and-ethnicity, #racial-profiling, #suits-and-litigation-civil, #wells-fargocompany

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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.

#bank-of-america-corporation, #banking-and-financial-institutions, #bathrooms-and-toilets, #citigroup-inc, #coronavirus-2019-ncov, #coronavirus-reopenings, #goldman-sachs-group-inc, #neuberger-berman-llc, #shutdowns-institutional

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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.

#72andsunny, #adidas-ag, #advertising-and-marketing, #aina-jackie, #benjerrys-homemade-inc, #citigroup-inc, #converse-inc, #corporate-social-responsibility, #discrimination, #fashion-nova-inc, #floyd-george-d-2020, #hbo-max, #kaepernick-colin, #netflix-inc, #nike-inc, #nordstrom-inc, #police-brutality-misconduct-and-shootings, #race-and-ethnicity, #reebok-international-ltd, #social-media, #starbucks-corporation, #target-corporation, #warner-media-llc

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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.

#american-bankers-assn, #banking-and-financial-institutions, #citigroup-inc, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #midwest-savings-bank, #small-business, #small-business-administration

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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.

#banking-and-financial-institutions, #citigroup-inc, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #customer-relations, #high-net-worth-individuals, #jpmorgan-chasecompany, #small-business, #small-business-administration, #us-bancorp

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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.

#architecture, #bunshaft-gordon, #citigroup-inc, #demolition, #foster-norman, #historic-buildings-and-sites, #huxtable-ada-louise, #johnson-philip, #lever-house-manhattan-ny, #manhattan-nyc, #metlife-building-manhattan-ny, #mies-van-der-rohe-ludwig, #park-avenue-manhattan-ny, #restoration-and-renovation, #selldorf-architects, #selldorf-annabelle, #skidmore-owingsmerrill, #windows

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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.

#banking-and-financial-institutions, #citigroup-inc, #coronavirus-aid-relief-and-economic-security-act-2020, #crossfit-inc, #potbelly-corp, #small-business, #small-business-administration, #wells-fargocompany

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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.

#bank-of-america-corporation, #banking-and-financial-institutions, #citigroup-inc, #coronavirus-2019-ncov, #jpmorgan-chasecompany, #layoffs-and-job-reductions, #small-business, #small-business-administration, #wells-fargocompany

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