Fox Business - The Power to Prosper
Search Site

Goldman Sachs Fraud

Citi posts higher income as troubled assets perform better

Citigroup Inc posted better-than-expected quarterly income as losses on troubled assets narrowed, but revenue declined in many of its major businesses and operating expenses remained stubbornly high.The biggest boon to Citigroup's first-quarter results came from Citi Holdings, the unit that houses the assets it's looking to shed. But echoing JPMorgan Chase & Co's results on Friday, Citigroup was hurt overall by a decline in revenue from bond trading and home mortgage lending.Citigroup's Chief Financial Officer John Gerspach said he would not be surprised if bond trading revenue fell 5 to 10 percent for the industry this year.As with JPMorgan, many of Citigroup's other major businesses posted double-digit percentage declines in revenue.But Citigroup's results did beat analysts' average expectations, and shares rose 4.2 percent to $47.61, putting them on track to log their biggest one-day percentage gain since January 2013.The stock gains came after the bank's shares lost some 9 percent ...

Read More

  1. After Mexico Fraud , Citi Finds Other Suspect Loans

    Citigroup Inc (NYSE:C), which recently discovered it made some $400 million in fraudulent loans to a company in Mexico, found three other sets of smaller loans that ...

  2. After Mexico fraud , Citi finds other three sets of suspect loans

    Citigroup Inc, which recently discovered it made some $400 million in fraudulent loans to a company in Mexico, found three other sets of smaller loans that may be su...

  3. Ex-Goldman Trader Fabrice Tourre Fined $850,000

    A federal judge has ordered Fabrice Tourre, the former Goldman Sachs Group Inc. trader, to pay more than $850,000 for his role in securities fraud. The order Wednesd...

  4. Ex-GS VP Tourre to Pay More than $825K Fine

    A federal judge ordered former Goldman Sachs (NYSE:GS) bond salesman Fabrice Tourre to forfeit a $175,000 bonus and pay a $650,000 fine for misleading investors in t...

  5. Gasparino: Underwriters aiming for 7.5% coupon on Puerto Rico

    FBN’s Charlie Gasparino dissects demand for Puerto Rico’s debt.

  6. HSBC limiting large cash withdrawals by customers

    Former Goldman Sachs Vice Chairman Robert Kaplan on HSBC tightening its rules for cash withdrawals.

  7. JPMorgan profit hit by Madoff, weaker investment banking

    JPMorgan Chase & Co said on Tuesday that fourth-quarter profit fell 7.3 percent, hurt by weaker investment banking revenue and higher legal expenses.The results cap ...

  8. Traders Brace for Bank Earnings and Key Data

    Bank earnings and an array of economic data related to retail sales, inflation and housing highlight next week's economic calendar.The most closely watched earnings ...

  9. Report: JPM Metals Futures Business May be For Sale

    JPMorgan Chase & Co, the world's biggest dealer in over-the-counter metals derivatives, has added its metals futures brokerage to the sale of its physical commoditie...

  10. Bulls Charge Back: S&P Snaps 3-Day Losing Streak

    FOX Business: Capitalism Lives HereU.S. equity markets rallied, breaking a three-day losing streak, as traders cheered a round of strong data on the American economy...

  11. Fabrice Tourre denied new trial

    FBN's Melissa Francis breaks down mid-afternoon market news.

  12. FTC takes action against deceptive weight-loss products

    FBN's Tracy Byrnes breaks down afternoon market news.

  1. Citigroup profit rises on smaller loss from troubled assets

    Citigroup Inc reported a better-than-expected quarterly net profit as a smaller loss on its troubled assets made up for weakness in its core trading and lending busi...

  2. Condoleezza Rice joins Dropbox board, protests begin

    Kadina Group President Gary B. Smith, Money Map Press’ Keith Fitz-Gerald and MAXfunds.com editor Jonas Max Ferris on the IRS, anti-Dropbox protests and the markets.

  3. Jeb Bush Ties to Street Could Be Hurdle in Presidential Run

    When Jeb Bush comes to New York City Thursday, his main purpose won't be to raise money for his possible 2016 presidential bid, but to begin two days of meetings wit...

  4. It’s easier to get a job at Goldman Sachs than Walmart

    RBS managing director Michelle Girard, economist Peter Morici and FBN’s Charlie Gasparino weigh in on the March jobs report.

  5. IEX CEO Katsuyama on volatility

    ‘Flash Boys’ author Michael Lewis and IEX CEO Brad Katsuyama on market volatility.

  6. Ex-Goldman director Gupta's insider trading conviction upheld

    A federal appeals court upheld the conviction of former Goldman Sachs Group Inc director Rajat Gupta, one of the biggest successes in federal prosecutors' long-runni...

  7. Report: SEC Zeros in on Booming CLO Market

    The Securities and Exchange Commission is reportedly probing whether the surging market for collateralized loan obligations is paving the way for banks to illegally ...

‹ Prev12345Next ›
Freebase CC-BY
Source: Goldman Sachs Fraud on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL