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Barclays reports 21% fall in pre-tax profits

Mar 03, 2015 at 17:12 | Source: BBC

Barclays has reported a fall in profits as it set aside more funds to cover potential fines for misconduct. Statutory pre-tax profits fell 21% to £2.26bn in 2014. The bank increased its provision to cover any fallout from a probe into currency marke...

Coffee's hot as IPO could value Cafe Coffee Day at $1 billion

Feb 27, 2015 at 22:45 | Source: FirstPost

MUMBAI (Reuters) - The firm behind Cafe Coffee Day, India's biggest homegrown coffee chain, is set for a market debut that could value it at almost $1 billion, even as the country's burgeoning cafe culture draws global giants Starbucks(SBUX.O) and Mc...

Cafe Coffee Day plans IPO by April-end, seeks to collect $1 bn

Feb 27, 2015 at 19:24 | Source: FirstPost

Mumbai: The firm behind Cafe Coffee Day, India's biggest homegrown coffee chain, is set for a market debut that could value it at almost $1 billion, even as the country's burgeoning cafe culture draws global giants Starbucks and McDonald's.Cafe Coffe...

Cafe Coffee Day April IPO by likely to fetch $1 bn

Feb 27, 2015 at 10:46 | Source: FirstPost

Mumbai: The firm behind Cafe Coffee Day, India's biggest homegrown coffee chain, is set for a market debut that could value it at almost $1 billion, even as the country's burgeoning cafe culture draws global giants Starbucks and McDonald's.Cafe Coffe...

Citigroup unit probed by more authorities over money laundering

Feb 26, 2015 at 05:30 | Source: FirstPost

NEW YORK (Reuters) - Citigroup Inc (C.N) said additional government authorities have started probes of possible breaches of anti-money laundering laws at its Banamex USA unit.The Financial Crimes Enforcement Network, a unit of the U.S. Treasury, and ...

Citigroup cut CEO Corbat's pay by 10 pct to $13.1 mln in 2014

Feb 20, 2015 at 23:45 | Source: FirstPost

REUTERS - Citigroup Inc (C.N) cut Chief Executive Michael Corbat's pay by about 10 percent in 2014, a year in which the bank's profit nearly halved due to higher legal costs and a slump in bond trading.Separately, the bank said its consumer banking h...

Citigroup to set aside $100 bln to fund green initiatives

Feb 18, 2015 at 23:30 | Source: FirstPost

REUTERS - Citigroup Inc said it would set aside $100 billion to fund environmental projects over the next decade, doubling the amount it had earmarked for such projects in 2007.Citigroup said it would fund projects related to renewable energy, greenh...

RBI may cut rates by another 50 bps in H1 2015, say experts

Feb 17, 2015 at 17:40 | Source: FirstPost

New Delhi: The ongoing slowdown in inflation momentum has given room for the Reserve Bank to adopt a more accommodative monetary policy and cut policy rates by 50 basis points in the first half of this year, experts believe.According to global broker...

Oil rallies for third day after OPEC sees greater crude demand

Feb 10, 2015 at 01:30 | Source: FirstPost

NEW YORK (Reuters) - Oil rose for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought and projected less supply from countries outside the group.The Organization of the Petroleum Exporting Co...

US President appoints Ajay Banga to a key administration position

Feb 06, 2015 at 13:49 | Source: FirstPost

Washington: US President Barack Obama has announced to appoint top Indian-American CEO Ajay Banga to a key administration position.Banga, chairman of the US India Business Council, has been appointed as member of the Advisory Committee for Trade Poli...

Obama appoints Indian CEO Ajay Banga to key administration position

Feb 06, 2015 at 07:53 | Source: FirstPost

Washington: US President Barack Obama has announced to appoint top Indian-American CEO Ajay Banga to a key administration position.Banga, chairman of the US India Business Council, has been appointed as member of the Advisory Committee for Trade Poli...

Alibaba's Ant Financial to buy 25 pct of India's One97

Feb 06, 2015 at 01:19 | Source: FirstPost

MUMBAI/SHANGHAI (Reuters) - Ant Financial Services Group, an affiliate of China's Alibaba Group Holding Ltd, has agreed to buy 25 percent of Indian payment services provider One97 Communications, tapping into the country's smartphone and online indus...

Big banks lose bid to dismiss U.S. currency manipulation lawsuit

Jan 29, 2015 at 03:15 | Source: FirstPost

NEW YORK (Reuters) - A federal judge on Wednesday said U.S. investors may pursue a nationwide antitrust lawsuit accusing 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market.U.S. District Judge Lorna Schofield in Manhat...

Wall Street left with skeleton crews down as blizzard bears down

Jan 27, 2015 at 04:30 | Source: FirstPost

NEW YORK (Reuters) - A blizzard bearing down on New York hollowed out Wall Street offices on Monday, leaving most investment banks and fund managers with skeleton staffs as many employees opted to work from home.The storm, which threatens to dump up ...

Reliance Industries raises $1 bn via 10-year bond issue

Jan 22, 2015 at 22:30 | Source: FirstPost

New Delhi: Reliance Industries has raised $1 billion in debt through a 10 year bond issue at an interest rates considered lowest in Asia and with almost no new-issue premium. "The Notes will be denominated in US dollars, and will bear fixed inte...

Vikram Pandit, other marquee investors pump in $75 mn into Bitcoin co Coinbase

Jan 21, 2015 at 08:45 | Source: FirstPost

Noted India-origin banker Vikram Pandit along with the New York Stock Exchange and other investors have pumped in $75 million into US-based Coinbase in what is billed as one of the biggest publicly disclosed funding for a Bitcoin company.The investme...

Mahanagar Gas looks to raise Rs 800 crore via IPO

Jan 19, 2015 at 16:23 | Source: FirstPost

Mahanagar Gas Ltd, a natural gas distributor in India, is looking to raise around Rs 800 crore ($129.66 million) in a stock market listing in the first quarter of 2015, three sources involved in the process told Reuters.Mahanagar Gas, a joint venture...

Goldman Sachs profits fall to $2.17bn for last three months

Jan 17, 2015 at 03:36 | Source: BBC

Goldman Sachs has posted a 7% fall in quarterly profits after weaker bond trading and a decline in investment bank revenues. The Wall Street giant saw earnings fall to $2.17bn (£1.5bn) in the last three months of 2014. However, for the full year, ne...

Earnings: Citigroup Q3 profits plunge 86% as legal costs rise to $3.5 bn

Jan 16, 2015 at 13:22 | Source: FirstPost

New York: Citigroup today became the latest big US bank to report disappointing results, with earnings plunging 86 percent on a large legal charge and disappointing operating performance in some segments.Earnings for the fourth quarter were $350 mill...

Bank of America and Citigroup miss profit forecasts

Jan 16, 2015 at 03:42 | Source: BBC

Profits at Bank of America (BoA) and Citigroup for the last three months of 2014 have both undershot estimates. BoA earned $3.05bn (£2bn) compared with a profit of $3.44bn last year, as total revenue fell 12.6% to $18.96bn. Citigroup's income f...

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