|
|
Citigroup Posts $2.5 Billion Loss on Write-Downs
Summary from multiple countries, from articles in English
|
The Citi Field sign above the main scoreboard at the Mets new ballpark, the first of several to be raised by April, is nearly complete. (article 6)
Rising defaults on home loans led Citigroup to post a $2.5 billion loss today, but the earnings report still beat Wall Street expectations and shares for the company were expected to advance to today. (article 7)
The biggest US bank by assets lost $2.5bn ($1.3bn) in the three months to the end of June, weighed down by another $11.7bn of write-downs. (article 5)
He also said credit costs would be higher in the second quarter than in the first as the bank builds up reserves for future losses in its mortgage portfolio. (article 3)
The loss was the fourth straight for Wall Street's third-largest investment bank, and was more than twice as big as analysts expected. (article 8)
Thain joined Merrill in November to turn around a company that had been rocked by massive write-downs of complex debt securities. (article 8)
So far this year, the company has racked up more than $7 billion of net losses for common shareholders, as bad investment and business decisions made under ousted former chief executive Stanley O'Neal have haunted Thain. (article 8)
|
Other summaries about this story:
Event tracking:
Story keywords
|
Citigroup, billion, Credit, losses, Citi |
Source articles
- Citigroup posts $2.5B loss, but beats expectations (seattletimes.nwsource.com, 07/18/2008, 812 words)
- Citigroup beats expectations with $2.5B loss (cbc.ca, 07/18/2008, 505 words)
- Investors brace for Citigroup to post another loss (Washington Post, 07/18/2008, 713 words)
- Citigroup Posts $2.5 Billion Loss on Write-Downs (nytimes.com, 07/19/2008, 1062 words)
- Citigroup posts another big loss (BBC News, 07/18/2008, 296 words)
- Citigroup Puts Its Money Where Its Name Will Be (nytimes.com, 07/20/2008, 300 words)
- ABC News: Saudis Saving Citi? Americans Uneasy (ABCNews, 07/18/2008, 381 words)
- Merrill posts $4.9 billion loss, sells Bloomberg stake (Washington Post, 07/17/2008, 368 words)
|
|
blaster@cs.columbia.edu
|
