Citigroup Plans to Cut 20,000 Jobs

The cuts will amount to about 10% of the bank's workforce, excluding the Mexico business. 


 
Americans' Finances Defied the Skeptics, Bank Earnings Show

JPMorgan, Bank of America, Wells Fargo and Citigroup together earned $104 billion in 2023, up 11% from a year earlier. 


 
UnitedHealth's stock suffers biggest drop in 7 months as costs disappoint

Shares of UnitedHealth Group Inc. slumped Friday, after the health insurer reported a jump in medical costs relative to revenue in the fourth quarter, but earnings that continued to beat forecasts. 


 
Delta CEO highlights 'testy' geopolitical environment behind lowered earnings guidance

For 2024, Delta expects earnings of $6 to $7 a share, below the target of over $7 a share the company outlined at an investor day in December 2022. 


 
BlackRock to Buy Infrastructure Firm for $12.5 Billion

The acquisition of Global Infrastructure Partners, a private-equity firm focused on infrastructure, would be BlackRock's largest in 15 years. 


 
Crypto Firm Genesis Global Trading to Pay $8 Million for Compliance Failings

New York state's financial watchdog said the brokerage firm-currently in the process of winding down-had gaps in its anti-money-laundering and cybersecurity programs. 


 
A Potential Mega-IPO Is in U.S.-China Crosshairs

Shein's listing plans likely depend on the fashion giant's ability to satisfy Beijing and Washington. 


 
Banks Can't Count on Loans for Growth

As interest rates fall, growing loans is getting more important, but also trickier. 


 
European Banks Brace for Testing Times After Peak in Interest Rates

European bank executives say the industry is likely to handle the shift with resilience, though analysts expect last year's big earnings boost will lose steam in 2024. 


 
Morgan Stanley Agrees to Pay $249 Million to Settle Block-Trading Probes

The settlement ends a long-running investigation of how the Wall Street firm sold large tranches of stock for sophisticated clients.


(END) Dow Jones Newswires

01-12-24 1915ET