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The Latest Breaking News from Citigroup

"Pro-climate" banks funding fossil fuels

The disconnect between words and actions has outraged climate activists

Salon

Banks Promote Climate Pledges But Keep Increasing Their Financing of Fossil Fuel Production

National day of protest will target JPMorgan Chase, Citigroup, Bank of America and Wells Fargo as new U.N. report warns of catastrophic climate impacts.

Capital & Main

Pay transparency is spreading. Here's what you need to know

More employers are posting salary bands for job postings, even in states where it’s not mandated by law

The Independent UK

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Biggest US banks weigh rescuing First Republic as its shares tumble – report

Citigroup, Goldman Sachs, JP Morgan and Wells Fargo are among the banks discussing a lifeline for the San Francisco-based lender

The Guardian - US

Bank of America has raked in $15 billion in new deposits after SVB collapse

Sources familiar with the matter say former Silicon Valley Bank customers are looking to put their money in the safest institution possible.

Fortune

Axis Bank completes acquisition of Citi's India consumer business in Rs 11,603-crore deal

NEW DELHI: Private sector lender Axis Bank on Wednesday announced that it has completed acquisition of Citibank's consumer business and non-banking financial company (NBFC) consumer business.

The Times of India

George Santos calls himself ‘simple minded’ and claims support from Kyrsten Sinema. She denies it

In an interview about his deceptions, the Republican congressman also claimed he spoke with the Arizona senator. Her office called that another lie

The Independent UK

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George Santos admits fabricating work experience and calls Mitt Romney ‘racist’ in bizarre interview

Mr Santos said the Utah senator is ‘prejudiced against minorities’ but offered no evidence to support his claim

The Independent UK

How Wall Street’s fossil-fuel money pipeline undermines the fight to save the planet

Big banks and investment firms have joined the ranks of companies making "net-zero" pledges. But their huge stakes in oil and gas projects are undermining their climate promises.

Fortune

Citigroup wealth unit halts margin loans on Gautam Adani securities

Citigroup Inc’s wealth arm has stopped accepting securities of Gautam Adani’s group of firms as collateral for margin loans as banks ramp up scrutiny of the Indian tycoon’s finances following allegations of fraud by short seller Hindenburg Research.

The Times of India

How China’s Yuan Props up Putin’s Anemic Budget

Russia has started selling its growing reserves of the Chinese currency to fill a budget deficit caused by falling oil and gas revenues and the costs of war.

The News Lens

Are voters stuck with George Santos?

The newly elected fabulist's web of lies won't necessarily get him ejected, but it raises ethical concerns

Salon

These major banks see a "mild recession" coming in 2023

JPMorgan Chase, Bank of America and Citigroup are bracing for an economic downturn in 2023, including an uptick in unemployment, even as they continue to benefit from strong consumer spending and higher interest rates.

Axios

Voters have few options to remove George Santos from Congress – aside from waiting until the next election

There are mounting calls from both politicians and voters to force the newly elected apparent fabulist U.S. Rep. George Santos from Congress following revelations he fabricated his background and other details of his life.

The Conversation

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Fortune

Jamie Dimon is waffling on his economic ‘hurricane’ take yet again. His bank is now calling a ‘mild recession’ later this year

Wall Street banks are building cash reserves to cope with a “mild recession.” It’s a more optimistic outlook than some CEOs have previously offered.

Salon

The GOP war on green investing

From the U.S. House to state governments, the GOP takes aim at pro-climate finance strategies

Fortune

Crypto took such a beating in 2022 that U.S. regulators have teamed up for the first time to sound the alarm to banks

Deutsche Bank, Wells Fargo, Citigroup and Bank of America have all invested in crypto staffing divisions in recent years.

Zenger

Citigroup Passed On Alameda Research Partnership Due To Lack Of Risk Management: Report

Banking giant Citigroup considered partnering with Alameda Research, now-bankrupt crypto trading firm, to launch a crypto lending.

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news in one place.

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The Times of India

China’s economy ends year in slump as Covid infections surge

China’s economy ended the year in a major slump as business and consumer spending plunged in December, with more disruption likely in the first few months of the year as Covid infections surge across the country.

Daily Mirror

New congressman admits lying about background and pretending to be 'Jew-ish'

Republican rep for New York, George Santos, admitted "sins" of "embellishing" his resume and that his false claim of being Jewish was due to a tenuous maternal link, which he refered to as being "Jew-ish"

The New Daily

Newly elected US congressman admits his life story is all made up

From his education, to his heritage, George Santos has admitted he "embellished" during his successful campaign.

Salon

Democrats call for GOP faker to quit

George Santos says he's sorry for "having embellished his résumé" — but his claim to be Jewish might sink him

Tribune News Service

Looking for votes, GOP leader McCarthy might have to look past Rep.-elect Santos' serial fabrications

WASHINGTON — U.S. Rep.-elect George Santos’ serial fabrications about his life story sets up a key test for Republican leader Kevin McCarthy, who’s struggling to win next week’s vote for House speaker.

Reason

"Liar Rep.-Elect George Santos Admits Fabricating Key Details of His Bio"

The New York Post (Victor Nava & Carl Campanile) reports: "My sins here are embellishing my resume. I'm sorry," Santos said Monday. Santos confessed he had "never worked directly" for Goldman Sachs and Citigroup, chalking that fib up to a "poor choice of words." The 34-year-old now claims instead that…

The Times of India

Wall Street’s big banks score $1 trillion of profit in a decade

Malick Diop felt something shifting on Wall Street.

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