Newstin - Citigroup

Citi seeks potential partners for Wachovia bid: report

Wed, 08 Oct 2008 05:34:07 GMT

Citigroup Inc is looking for potential partners in its bid for Wachovia Corp , seeking to wrest the upper hand from Wachovia's other suitor Wells Fargo & Co , the Wall Street Journal said, citing people familiar with the matter.

Wall St at 5yr low, world markets tense

Tue, 07 Oct 2008 23:20:02 GMT

Wednesday October 8, 2008, 9:47 am Stocks have plunged for a second day running on Wall Street, while those in Europe were mixed, on persistent anxiety over the health of the banking sector - and despite central bank...

India's Tata Consultancy buys Citigroup office

Wed, 08 Oct 2008 08:57:48 GMT

India's Tata Consultancy buys Citi back office : India's largest outsourcing firm, Tata Consultancy Services Ltd., is buying Citigroup's back office operations in India for US$505 million in cash, the companies said Wednesday....

Citi Scales Back Mortgage Business

Tue, 07 Oct 2008 22:42:00 GMT

Citigroup Inc. is largely exiting the wholesale mortgage business, a step that many rival banks took last year. Under a downsizing plan announced internally on Tuesday, Citigroup will reduce the number of outside mortgage...

Random bits of hope (at Fortune)

Tue, 07 Oct 2008 23:34:05 GMT

It’s hard to be hopeful. At last week’s Fortune Most Powerful Women Summit, we heard plenty about stress and sleep deprivation — starting with Warren Buffett’s comments on a clearly exhausted Treasury Secretary Hank Paulson....

TCS Bags Citigroup BPO

Wed, 08 Oct 2008 08:48:24 GMT

Tata Consultancy Services (TCS) has acquired Citigroup Global Services Limited (CGSL), the India-based captive business processing outsourcing (BPO) arm of Citi for approximately $505 million, subject to closing adjustments. In...

Bailout not enough

Wed, 08 Oct 2008 04:00:00 GMT

Economy likely won't get better until crisis' causes addressed and Wall Street reforms implemented It's official! It will provide banks with much-needed liquidity, but it does not address the compensation and management...

Shorts say stock woes prove crisis not their fault

Tue, 07 Oct 2008 23:07:47 GMT

CHICAGO (Reuters) - A temporary U.S. ban on short selling has failed to stop the relentless sell-off of financial stocks, proving that the trading strategy is not to blame for the crisis shaking Wall Street, two veteran short...

Crisis seen slicing Toyota profit, shares crumble

Wed, 08 Oct 2008 09:12:20 GMT

TOKYO (Reuters) - Fear that Toyota Motor Corp's <7203.T> profit will tumble drove its shares to their biggest one-day fall in two decades on Wednesday as the deepening financial crisis spreads through the global economy.

2. Maybank to buy additional stake in BII

Tue, 07 Oct 2008 22:59:59 GMT

PETALING JAYA: Malayan Banking Bhd (Maybank) will purchase an additional 16.26% stake in PT Bank Internasional Indonesia Tbk (BII) for 433 rupiah per share. This block of 7.95 billion shares will cost Maybank about RM1.26bil,...