Citigroup (C.N), which got control of the world's fourth-largest record company EMI from British financier Guy Hands in February, plans to sell the company as a whole, the New York Post reported, citing sources. EMI Chief Executive Roger Faxon has been arguing for months that a breakup would hurt... Read more...
Wall Street banking giant Citigroup has reported a loss of $7.6bn (£4.7bn) for the final three months of 2009, largely due to repaying government loans. Taking out the impact of these repayments, Citi recorded a loss of $1.4bn during the quarter. The results were worse than analysts had expec... Read more...
For U.S. Representative Ron Paul, the ninth time may be the charm. After fighting for decades to increase scrutiny of the Federal Reserve or abolish it, the Texas Republican’s proposal requiring audits of the central bank’s interest-rate decisions is getting traction. The long-shot 2008 pres... Read more...
6. Goldman Sachs CEO: Lloyd Blankfein 2007 compensation: $70 million 2008 compensation: $1.1 million 9-month compensation pool: $16.7 billion Workers: 31,700 Average compensation: $526,813 Loans, 2009 vs. 2008*: $41.6 billion vs. 41 billion (1.5%) 5. Morgan Stanley CEO: John Mack (who is s... Read more...
Wells Fargo said Monday it has reached an agreement with the government to return $25 billion in bailout money it received during last year's financial crisis. The San Francisco-based bank said repayment of the funds is contingent on a $10.4 billion common stock offering. The move comes on the s... Read more...
Terra Firma, the owner of EMI, is suing Citigroup, saying the bank "misrepresented fundamental facts" over the 2007 purchase of the record firm. The private equity company is accusing the bank, which brokered the sale, of falsely claiming that other bidders were in the frame. Terra Firma says it r... Read more...
ATLANTA — When the nation's swine flu vaccination program began in early October, health officials predicted it was going to be "messy." They were right. The program has been plagued with problems and information gaps: _Health officials have been terrible at predicting when and how much vaccin... Read more...