Citigroup to exit consumer banking ops in India, 12 other countries
By IANS |
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Jane Fraser, CEO, Citigroup ( Credit : citigroup). Image Source: IANS News
New Delhi/New York, April 15 : In a global restructuring to allocate resources in markets with scale, Citigroup will exit consumer banking operations in India as well as 12 other countries.
The multinational investment bank headquartered in New York on Thursday announced strategic actions in the global consumer banking segment as part of an ongoing strategic review, which will allow Citi to direct investments and resources to the businesses where it has greatest scale and growth potential.
The announcement was made as Citigroup reported its first quarter results.
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Credit Suisse faces some tough choices as it absorbs the extraordinary losses inflicted by the Greensill and Archegos fund fiascos and subsequent ratings hit. On April 6, the firm announced an estimated pre-tax loss of approximately Sfr900 million ($963 million) for the first quarter, including a charge of Sfr4.4 billion ($4.7 billion) in respect of Archegos. At the same time, the firm announced that investment bank CEO
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Jim Rogers’ tip for new investors: Don t let hot tips ruin you
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Jim Rogers said despite the adverse talk about bullion as an investment option, gold and silver continue to be attractive options and one should accumulate them on dips.
ETMGS 2021: Jim Rogers asks investors to not follow hot tips
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NEW DELHI: Commodities Guru Jim Rogers says the new breed of investors who entered the market during the Covid crisis and before should know that investing works best only when one knows what she is investing in.
“One should only invest in what s/he knows about. Do not listen to hot tips, or me. Everybody wants hot tips. Those would bankrupt you, ruin you,” the American investor and financial commentator said during an interaction with Shiv Sehgal, President and Co-Head of the Institutional Clients Group at Edelweiss Global Investment Advisors, at the