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Citigroup

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End-Of-Term Report: Obama’s Record Is Better Than The Woes Of America’s Economy Suggests

via The Economist Not since 1933 had an American president taken the oath of office in an economic climate as grim as it was when Barack Obama put his left hand on the Bible in January 2009. The banking system was near collapse, two big car manufacturers were sliding towards bankruptcy; and employment, the housing … Continue reading

Banking App Gives Hope To iPhone Sweatshops

via William Pesek, Bloomberg The iPhone has become a symbol of something Steve Jobs never envisioned: Chinese sweatshops. Were the late Apple Inc. co-founder still with us, he would surely dispute that. But facts are facts, and any of us (full disclosure: this includes me) who use one of Apple’s smartphones, iPads or iPods is, … Continue reading

Citigroup Shareholder Sues CEO, Directors For Outsized Executive Pay Packages

via Reuters, The Huffington Post Days after being rebuked by shareholders, Citigroup Inc Chief Executive Vikram Pandit and the bank’s directors have been sued for allegedly awarding outsized pay to top executives. The complaint filed Thursday in Manhattan federal court accuses directors of breaching their fiduciary duties by awarding more than $54 million of compensation … Continue reading

Bill Daley Resigning: Obama Chief Of Staff Stepping Down

via Jennifer Bendery and Zach Carter, The Huffington Post In a move that next to nobody in the White House saw coming, President Barack Obama announced Monday that William Daley is resigning as his chief of staff and being replaced by budget director Jacob Lew. “Last week, my chief of staff Bill Daley informed me … Continue reading

Bank of America Scraps Plans For Debit Card Fee

via Tom Braithwaite, Financial Times Bank of America became the latest US bank to scrap plans for a debit card fee, acting after worries that customers of the second-largest US bank by deposits would move their accounts. BofA said its u-turn was a “response to customer feedback and the changing competitive marketplace”. Analysts had worried … Continue reading

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