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Michael Corbat, CEO of Citigroup.

Citi leads a rally in bank stocks after beating Wall Street earnings estimates

Both revenue and earnings per share outperformed consensus analyst expectations, which lifted shares industry-wide.
People sit outside the New York Stock Exchange (NYSE) in New York City, U.S., September 15, 2016.

Major US banks are the big winners as Deutsche Bank’s business gets a massive shake-up

Market share for both trading and investment banking has already been shifting towards US banks over the past few years, Credit Suisse says.

Stock markets are shrinking

The US stock market has de-equitised, a fancy term that basically means companies are buying more shares than they are issuing, every year since 2011.
Michael Corbat, CEO of Citigroup, speaks at the Milken Institute's 21st Global Conference in Beverly Hills, California, U.S. April 30, 2018. REUTERS/Lucy Nicholson

Citi beats, but equity trading misses the mark

Citigroup on Monday is announcing earnings results from the first quarter.

A major overhaul is underway at Citi’s highest ranks as bank president Jamie Forese announces his retirement

Citi President Jamie Forese is retiring, and other execs are either leaving or taking on new roles, according to a memo from CEO Michael Corbat.

A Republican congressman just asked the CEOs of 7 of America’s largest banks if they’re socialists

This was not the first time that GOP Rep. Roger Williams has asked witnesses at a hearing whether they are a socialist or a capitalist.

Aramco: Here’s everything you need to know about the world’s most profitable company’s debut bond

Saudi Aramco smashed expectations to secure a debut bond issue with lower yields than the Saudi government, which owns the company.
Trading may be down, but investment banking is looking up.

Citi is expecting trading to fall in the ‘high single-digits’ in the first quarter

Citi CFO Mark Mason says trading is trending down as markets have yet to fully recover, but investment banking revenues are on the rise.
Russian President Vladimir Putin

An explosive exposé of a $9 billion Russian money-laundering operation entangles Citigroup, Raiffeisen, and Deutsche Bank

A project detailing what it calls 'the Troika Laundromat' outlines a massive money-laundering operation with links to politicians and Western banks.