Citibank

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Google, Citibank Throwing $110M Into Wind

Marks a major corporate investment into green energy

(Newser) - Google and Citibank are each throwing $55 million to the wind in California. The Mountain-View-based search giant is partnering with Citibank to help finance the Alta Wind Energy Center wind farm in the Tehachapi Mountains. The Kern County wind farm will generate 1.5 gigawatts of electricity, enough to power...

Citi Boss Vikram Pandit Scores Huge Bonus

He'll make at least $23.2 million; had been earning $1

(Newser) - Vikram Pandit isn’t the lowest-paid guy on Wall Street anymore. Citigroup has rewarded its CEO, who has worked for a token $1 salary for the past two years, with a massive retention package. If the company hits its estimated performance, Pandit will make $23.2 million in stock and...

Too-Hot Banker Dumps Her S&M-Lovin' Lawyer

Lorenzana was freaked out by sex harassment case

(Newser) - Too-hot-for-Citi banker Debrahlee Lorenzana was apparently afraid she’s also too hot for her lawyer—so she ditched him. After learning of a 2008 sexual harassment suit against attorney Jack Tuckner, “she was horrified,” a source tells the New York Post . And with good reason: Court papers filed...

Too-Hot Banker Wasn't Always So Stacked

 Too-Hot Banker 
 Wasn't Always 
 So Stacked 
asset management
Jun 9, 2010 10:43 AM CDT

Too-Hot Banker Wasn't Always So Stacked

Debrahlee Lorenzana got two boob jobs, bragged about 'em

(Newser) - Debrahlee Lorenzana may be too hot for Citibank , but it turns out her, er, assets weren’t always quite so big. The bombshell banker was featured in a 2003 Discovery Health Channel series called Plastic Surgery New York Style, during which she talks quite gleefully about her two boob jobs....

Another Bank Has Problem With Too-Hot Banker

Debrahlee Lorenzana in hot water with JPMorgan Chase, too

(Newser) - Too-sexy-for-Citibank Debrahlee Lorenzana is now in hot water with a second bank…but not for looking too hot at work. Lorenzana claims current employer JPMorgan Chase isn’t happy she spoke out against her last employer—who she says fired her for being too attractive . “They're circling the wagons...

Dow Rises 45 on Citigroup Optimism
 Dow Rises 45 on 
 Citigroup Optimism 
MARKETS
Mar 11, 2010 3:24 PM CST

Dow Rises 45 on Citigroup Optimism

CEO Vikram Pandit confident government will sell Citi stake

(Newser) - A possible move by China to tighten monetary policy sapped stocks today, but optimistic comments from Citigroup's CEO led the indexes higher in the final hour, the Wall Street Journal reports.
  • The Dow added 45 points to close at 10,612.
  • The Nasdaq gained 10 points, closing at 2,368.
...

FBI Probes Massive Hacker Theft at Citi

Bank denies being victim of Russian cyberattack

(Newser) - The FBI is investigating a cyberattack on Citigroup that cost the bank tens of millions of dollars, according to government officials. The theft—which Citi denies ever happened—was aimed at Citigroup's Citibank subsidiary and was carried out by hackers linked to a Russian gang, officials tell the Wall Street ...

Citi, Wells Fargo Clash With Feds Over Repaying TARP

Fed, Treasury want banks to raise more capital first

(Newser) - Citigroup and Wells Fargo are at odds with the government over how much they need to raise to repay their TARP bailouts, with Uncle Sam wanting them to raise more capital first. Both are looking to follow Bank of America’s lead and get out from under the TARP, allowing...

Fed Prods Banks for TARP Repayment Plans

BofA, Citi, 7 others asked to submit outlines

(Newser) - The government is stepping up plans to wind down the TARP program. The Fed has asked nine banks stress-tested earlier this year, including Bank of America and Citigroup, to come up with plans to repay a total of $142 billion in TARP funds. The move represents an evolution in the...

50% Pay Cuts for Bailout Execs Due Today

Warren confirms cuts to 25 top earners at 7 companies

(Newser) - The Treasury Department today is expected to order seven companies that have not paid back last year's US government bailouts to halve their top executives' average compensation. The cuts apply to the 25 highest-paid executives at banks and other companies that received the most assistance, with salaries being slashed by...

In Switch, 'Real Economy' Hits Big Banks
 In Switch, 
 'Real Economy' 
 Hits Big Banks 
PAUL KRUGMAN
Oct 19, 2009 9:49 AM CDT

In Switch, 'Real Economy' Hits Big Banks

Slumping profits are 'payback' from Main Street whipped by bad practices

(Newser) - Those concerned about the nation’s banks should forget about the “softly, softly policy” of the Obama administration that has allowed Goldman Sachs to go back to business as usual in spectacular fashion. The real problem, Paul Krugman writes, is banks like Citi and Bank of America that are...

Top Wall Street Execs Have Direct Line to Geithner

Treasury chief's calendars show frequent contact with big players

(Newser) - A look at Timothy Geithner's phone calendars show the Treasury secretary has maintained close ties with Wall Street executives he has known for years. Executives at Goldman Sachs, JPMorgan, and Citigroup can reach the nation's most powerful economic official at will. While there's nothing inherently wrong with keeping tabs on...

Dylan Album Out Early—if You've Got a Citi Card

Loyal Citibank customers get a 1-week jump on the rest of us

(Newser) - Citibank rewards customers will have first dibs on Bob Dylan’s first-ever Christmas album. The lucky cardholders will be able to download Christmas in the Heart online during the week before Oct. 13, when it goes on sale to the general public. An exec tells Reuters the offer will have...

In Lieu of Bonuses, Citi Gives I-Bankers 50% Raises

(Newser) - Citigroup will raise salaries for investment bankers and traders as much as 50% to offset a steep falloff in bonus pay and keep the company’s compensation package competitive, Bloomberg reports. Other employees, like those in the consumer banking section, will receive smaller raises. Citi, which took $45 billion in...

Make Starbucks What It Sounds Like: a Bank

(Newser) - Forget new drinks—Starbucks should try adding a new sector, writes John Gapper in the Financial Times: banking. It might sound ridiculous to pair cappuccinos and checking accounts, but Starbucks’ 7,000 branches outstrip Bank of America, and, in Gapper’s plan, it wouldn’t even need tellers. Starbucks could...

Skirting Bailout Rules, Banks Send Foreign Hires Abroad

(Newser) - Banks who have taken TARP funds from the government are getting creative about the immigration restrictions that come with the bailout, the Wall Street Journal reports. Financial institutions relying on government assistance cannot hire foreign workers unless they prove that they have exhausted the supply of native talent. So they’...

Got a Buck? Buy a Share of Citi

(Newser) - A sign of the times: Citibank shares are now eligible for your local dollar store. The bank’s shares fell below $1 for the first time ever today in trading, MarketWatch reports. They reached 97¢ at midday, about 2 years after trading at an all-time high of $57. Investors apparently...

Dow Falls 119 on Citi Fears
 Dow Falls 119 on Citi Fears 
MARKETS
Feb 27, 2009 3:23 PM CST

Dow Falls 119 on Citi Fears

(Newser) - The government’s move to downgrade its shares in Citigroup pushed the Dow down today, Bloomberg reports. Not helping was news that GDP contracted 6.2% in the last quarter, and the end to a weeklong rally by other big banks. The Dow fell 119.15, to 7,062.93;...

Citi's Mets Deal Makes Sense in the Long Run
Citi's Mets Deal Makes Sense in the Long Run
OPINION
Feb 4, 2009 2:31 PM CST

Citi's Mets Deal Makes Sense in the Long Run

$400M, over decades, will generate lots of publicity, help pay back bailout funds

(Newser) - Citi’s $400 million naming-rights deal with the New York Mets may seem “tone-deaf and stupid” after the bank took $45 billion in bailout funds, Daniel Gross writes in Newsweek—but it’s a good idea. “Companies—even companies getting bailed out by the feds—need to attract...

Citigroup Sues Pawnshop Over Similar Name, Logo

Struggling bank seeks all profits made by Brooklyn's All Citi Pawn

(Newser) - Citigroup is suing a Brooklyn pawnshop for copyright infringement, the New York Post reports. The logo for All Citi Pawn sports the distinctive “i” and a similar red mark over the “t.” Citigroup’s suit demands the pawnshop fork over all profits made since it adopted the...

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