citi

Citigroup swings to US$1.8bil loss on slew of charges

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[ Citigroup on Friday reported a $1.8 billion loss for the fourth quarter as it recorded charges to refill a government deposit insurance fund and carry out a sweeping internal reorganization. CEO Jane Fraser called the results “very disappointing,” but expects this year to be a turning point. “We made substantial progress simplifying Citi and … Read more

UK economy grew by 0.3% in November

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[ The economy grew by 0.3 per cent in November, new figures from the Office for National Statistics (ONS) show. The ONS said the services sector was the main contributor to the monthly growth in Gross Domestic Product (GDP). Services output grew by 0.4 per cent in November 2023, following a fall of 0.1 per … Read more