Citigroup Stock News

(Reuters) – Citigroup Inc has started covering travel expenses for employees who go out of state for abortions because of newly enacted restrictions in Texas and other places, becoming the first major U.S. bank to make that commitment.

Citigroup to cover travel expenses for abortions as U.S. states curb access

Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment. This week, the duel is between two online travel c

Citi''s announcement, made ahead of a shareholder meeting, states that it will cover travel costs incurred by a person leaving their state to get an abortion.

Citi Sets Up Shop In Malaga, Spain To Recruit New Junior Banking Talent And Cauterize European Attrition Retaining and locating talent has been one of the key concerns for many investment banks over the last few years. Banks have been doing nothing short of kissing the asses of their junior bankers, cranking their pay higher, showering them with gifts and promising better work-life balance. Now, Citi is even offering junior bankers a "permanent vacation" to Malaga, Spain as part of the deal. The investment bank is reportedly starting a new "hub" in Malaga in an effort to hire a team of 30 analysts, attract talent and "stem attrition" from the bank''s European arm, according to a Monday Bloomberg writeup. Citing internal documents, Bloomberg wrote that the new team will be focused on real estate and will help support the bank''s banking and capital markets unit, which is already in-place in the EMEA region. Among the benefits it''ll undoubtedly offer the new bankers, the bank "hopes the Andalusian city will provide an attractive setting for young bankers and offer employees a better work-life balance," Bloomberg wrote.

JP Morgan Lifts Ban On Hiring Unvaccinated Workers Just days after saying it would hire ex-cons , JP Morgan has decided that it will also hire unvaccinated individuals as it scrambles to fill jobs amid a stubbornly persistent labor shortage in the US. According to Bloomberg , which cited a memo to the bank''s staff, JPM has decided to abandon the ban starting next month, the latest sign that the bank is "putting the pandemic behind it". For existing employees, JPM will end mandatory testing for the unvaccinated starting April 4. On top of that, it will also stop requiring staff to report COVID infections. And for both unvaccinated and vaccinated staff, masking while inside JPM''s corporate offices will become voluntary, effective immediately. Local rules will continue to apply, and JPM''s workers in NYC must continue to abide by vaccination requirements imposed by the city, employees must continue to meet vaccination requirements, unless the city lifts its order. The city presently requires all public-facing workers to be vaccinated.

Citibank''s (C) February credit card delinquency rate of 0.85% barely nudged up from 0.84% in January and stayed well below the 1.31% rate in February 2021.Net charge-off rate of…

Citigroup Inc''s (NYSE: C ) short percent of float has risen 18.58% since its last report. The company recently reported that it has 42.98 million shares sold short , which is 2.17% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.7 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price … Full story available on Benzinga.com

Citigroup (C) will wind up all its business lines in Russia and will not solicit any new business or clients in the country.

These names won't be held down forever, particularly in light of budding industrywide rebounds.

Full story available on Benzinga.com

New York-based Citigroup has indicated that it would exit from all its operations in Russia, thus being the latest Wall Street firm to pull out of the country following Moscow’s invasion of Ukraine. The New York-based group in April 2021 had already announced plans to get rid of its retail banking business in Russia and on Monday said it is now expanding those efforts to include its corporate bank. “We have now decided to expand the scope of that exit process to include other lines of business and continue to reduce our remaining operations and exposure,” Edward Skyler, Citi’s executive vice-president for global public affairs, said in a blog post. Read also: UK prime minister seeks replacement for banned Russian oil “Due to the nature of banking and financial services operations, this decision will take time to execute,” the bank added. The bank said it had also decided “to stop soliciting any new business or clients to Russia. At the end of 2020, Citi in Russia had about 3,000 corporate clients, 500,000 consumer clients and roughly 3,000 employees.

Citigroup (C) closed at $54.23 in the latest trading session, marking a +0.13% move from the prior day.

Citigroup is setting up shop in the idyllic town of Malaga, Spain in hopes of luring thirtysomething junior bankers who want warm weather most of the year, a relatively low cost of living — and the beautiful Mediterranean coastline. The Wall Street bank is planning to open up a hub in the southern Spanish resort…