(Reuters) -Citigroup's profit fell in the first quarter as it spent more on severance payments for laid-off employees and set aside money to refill a government deposit insurance fund. Citi said in its investor presentation that it expects a headcount reduction of 7,000 and $1.5 billion in annualized savings from reorganization. Fraser began a sweeping reorganization in September to simplify the bank and improve performance.
Lloyds Banking Group has announced its profits plunged by 28% in the first
Leading EV manufacturer Tesla continues to lose sales, with another profit drop of as much as 55%. Tesla's profits are reportedly down 55% due to competition, and its price-cutting strategy finally caught up with that of the automaking giant.
(From the City of Findlay) The City of Findlay will offer a bulk trash drop-off for Findlay residents from Saturday, April 20, 2024, to Saturday, April 27, 2024. Hours are 8am-3pm or until dumpsters are full on Saturdays and 8am-7pm or until dumpsters are full Monday-Friday. Dumpsters will be at the Public Works Department, 330
Rate hikes by the U.S. Federal Reserve have compelled companies like Schwab to increase the interest they pay on deposits - a crucial source of capital that is used to invest in interest-earning assets and give out loans. Schwab has also taken on debt to bolster its funding, which hit interest revenue further. The interest rate on its borrowings from the Federal Home Loan Bank was 5.27%, compared with 5.05% a year ago.
OMAHA Neb. — Union Pacific’s first-quarter profits rose despite flat revenue and lower freight volume. “We are pleased to be able to report earnings growth in a tough environment,” CEO Jim Vena told investors and analysts on the railroad’s earnings call this morning. Operating income rose 3%, to $2.3 billion, on flat revenue of $6 []Read More
A fire at Central Pier on the Atlantic City boardwalk was burning Thursday
The results from the nation's second-largest lender offer the latest example of how even the biggest banks are increasingly challenged by high interest rates.
Citigroup Inc.’s profit topped analysts’ estimates as corporations tapped markets for financing and consumers leaned on credit cards — signs that a prolonged period of elevated interest rates will benefit big banks.
Petersburg residents are weighing in on the casino that could be on their ballots this November after the city’s decision to choose the Cordish Companies to operate it.
Recent satellite data underscores a growing environmental challenge for China: significant land subsidence threatening urban areas.
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