The recent economic and stock market meltdown started with the implosion of a handful of big banks and Wall Street brokerage firms. And the financial sector continues to feel the pain. Shares of Citigroup (NYSE: C), for example, traded at... (Continue reading)
Every day we are bombarded by dire economic news. The most shocking headlines have come from the steady stream of reports on massive workforce layoffs in every industry imaginable, from media and financial services to manufacturing and technology. In fact,... (Continue reading)
Citigroup Inc. said yesterday that board member Richard D. Parsons will be taking over as chairman effective Feb. 23. Parsons succeeds Sir Win Bischoff, who became chairman in December 2007 after the company fired CEO and Chairman Charles Prince. ... (Continue reading)
Citigroup Inc. is cutting more than 50,000 more employees in the coming quarters as the banking giant struggles after suffering major losses from deteriorating debt.... (Continue reading)
The moment of truth has arrived. Most of us in the investment community are looking for a bottom in the financial stocks and an end to the bad news around credit, subprime losses, and consumer confidence. Will this be it?... (Continue reading)