Citigroup

Wachovia Corporation has agreed to be bought out by Citigroup in a deal supported by the U.S. government. Exact terms of the deal are still forthcoming, but this could be seen as a best case scenario for a bank which was increasingly under…

The blog site EconomPic Data has some nice pictures of Citi's writedowns to date. Here is one. Check out the site for another nice breakdown.According to Bloomberg, Citigroup has written down over $50 billion so far. Click here for a full…

With the earnings season only halfway done, it is clear who the big losers are: Merrill Lynch and Citigroup. They have reported over $15 billion in additional writedowns for the quarter. What is increasingly clear is that those who had…

The global economy is gripped by its worst financial crisis since the Great Depression. People are losing their homes and their jobs, banks are going bankrupt, and stock markets in the U.S. and elsewhere have fallen significantly from…

The FT reports: Citigroup is close to agreeing a sale of its German retail banking operations to Credit Mutuel for between €3bn and €5bn, after the French bank outbid Deutsche Bank in a close race, according to bankers close to the…

Rumors are that Citigroup is also going to have another big writedown.Citigroup Inc., in the latest sign of bloodletting on Wall Street, is set this week to embark on an aggressive round of layoffs within its investment-banking division,…