Citigroup Stock News

Citigroup Inc. said late Wednesday it''s operating its consumer banking business in Russia "on a more limited basis given current circumstances and obligations" as it pursues previously announced plans to exit the business. The bank said it''s supporting its corporate clients in Russia including American and European multi-national corporations as they suspend or unwind their businesses. "With the Russian economy in the process of being disconnected from the global financial system as a consequence of the invasion, we continue to assess our operations in the country," according to a statement from the bank. The loss of life in Ukraine is "utterly heartbreaking" said Citi. Citi has donated $1 million from its foundation to relief organizations and said it will now match contributions from Citi colleagues in an effort that could generate $500,00 in donations. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

"This Is Absurd" - Wall Street Pushes For Defense Stocks To Get ''ESG'' Label There''s little doubt that the growing influence of ''ESG'' investing helped lead Western Europe to its present unfavorable position, allowing Russia to dominate the energy space. But going forward, a handful of Wall Street analysts are contemplating another ''ESG'' revamp: allowing "military weapons" and "defense" stocks to be considered "ESG" plays. If you are thinking that this seems a little, well, off, don''t worry - you''re not alone. One prominent ESG investor said he was approached about the possibility last week, but he called the idea "absurd", according to NYT. Leslie Samuelrich, president of the Green Century Funds, which was founded by nonprofit groups, including the California Public Interest Research Group and the Citizen Lobby of New Jersey, was appalled by the notion. "This is absurd,” she said. “It feels very opportunistic and shallow." She added that Ukraine needed to be defended. "I’m part Ukrainian,” she said. “Of course, they need weapons." But she said that had nothing to do with investing in funds devoted to socially responsible investing. "Those who argue that weapons belong in a sustainable portfolio are capitalizing on the horrific attack," she said. “Excluding military and civilian firearms has been a long-held screen by authentic responsible investors.” Among the idea''s biggest supporters are two Citigroup analysts, who recently published research advocating the notion.

NEW YORK (Reuters) – Citigroup Inc said on Wednesday it is operating its Russian consumer business on a more limited basis following the country’s invasion of Ukraine, while sticking with its previous plans to divest the franchise.

Citigroup Inc said on Wednesday it is operating its Russian consumer business on a more limited basis following the country''s invasion of Ukraine, while sticking with its previous plans to divest the franchise.

Rating Action: Moody''s affirms ratings of Citigroup (senior at A3) with stable outlookGlobal Credit Research - 09 Mar 2022New York, March 09, 2022 -- Moody''s Investors Service, ("Moody''s") affirmed the long-term debt, deposits and counterparty risk ratings and all short-term ratings of Citigroup Inc. ("Citigroup"), its principal bank subsidiary, Citibank, N.A. ("Citibank") and its guaranteed financing subsidiaries where applicable. All ratings outlooks remain stable. A complete list of affected ratings and entities can be found at the end of this press release.RATINGS RATIONALEThe rating affirmations were driven by the affirmation of Citibank''s baa1 baseline credit assessment (BCA). The affirmation of the BCA reflects steady execution by Citigroup''s new leadership of a purposeful strategy to simplify Citigroup''s operations and activities, transform its risk controls and exploit its competitive advantages with a core group of institutional and retail clients.The stable outlook reflects Moody''s expectation that while the transformation will take several years to complete, and will increase costs and suppress profitability in 2022, 2023 and possibly beyond, Citigroup will maintain a solid capital position and strong liquidity profile throughout.

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

Citigroup''s <> effort to sell its consumer banking business in Russia has stalled as the country''s military actions in Ukraine complicates the process, Bloomberg reported, citing…

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Marqeta, the modern card issuing platform, today announced that Citi Commercial Cards has selected its tokenization-as-a-service capabilities to facilitate the provisioning of cards into mobile wallets. Marqeta’s tokenization functionality will integrate with Citi’s existing systems and enable Citi’s global cardholder base to provision corporate plastic cards as well as virtual cards into mobile wallets. “This […] The post Marqeta Announces New Partnership with Citi Commercial Cards to Power Global Mobile Wallets Offering appeared first on Fintech Finance .

Futures Surge After 4 Day Rout On Ukraine War Optimism; Cryptos Soar After two days of sheer market insanity, including Monday''s furious plunge and Tuesday''s rollercoaster session, U.S. equity futures jumped after 4 straight days of losses, following European equities higher, as Ukraine optimism won, at least initially, over fears about high inflation and global stagflation as a result of soaring commodity prices, sparking a furious Delta squeeze (as we will show shortly in a subsequent post). At 730am ET, Nasdaq 100 contracts were up 2.1% while S&P 500 futures gained 1.6%. The underlying benchmark fell for a fourth straight session on Tuesday to close at its lowest since June 2021. Dow futures rose 1.5%. A bond selloff extended as investor focus turned to upcoming central-bank rate decisions, while oil prices reversed a rally driven by President Joe Biden’s ban on fossil-fuel imports from Russia. . The dollar weakened for the first time in five days, as haven demand waned. Bitcoin soared more than 10% over $42,000 spurred by optimism about an impending U.S. overhaul of crypto oversight that Treasury Secretary Janet Yellen called “historic.” Investors are bracing for a global stagflationary shock from a commodity-price rally fueled by Russia’s isolation even as supply disruptions threaten to usher in a period of slower global growth.