Citigroup swung to a huge loss in the first quarter, hurt in part by poor performance and write-downs at its alternative investments business.
The losses at Citi Alternative Investments were a relative drop in the $5.1 billion bucket of red ink: the group recorded “negative revenue†of $358 million “on sharply lower proprietary revenues†and $212 [...]
NEW YORK (Fortune) — The Fed’s resolve to defend the stressed-out U.S. financial system was put to an early test Monday when investors bet that Lehman Brothers could be the next Wall Street giant to fall.The brokerage firm saw its shares drop as much as 39% in early trading in wake of JPMorgan Chase’s $2-a-share [...]
The FINANCIAL — Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB)Â on February 7Â reported unaudited figures for the fourth quarter and full year 2007.
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For the year 2007, income before income taxes was EUR 8.7 billion, up 5% versus the year 2006, and revenues were EUR 30.7 billion, up 8%. Net [...]
By Andrew Hurst, European Banking Correspondent
ZURICH (Reuters) - UBS AG’s (UBSN.VX: Quote, Profile, Research) risk exposure has
been significantly reduced and the bank does not now require
any further capital injections to shore up its finances, CEO
Marcel Rohner told a Swiss newspaper.
“Yes, our risk positions have become substantially
smaller,” Rohner told business newspaper Handelszeitung in [...]
