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Men walk past a Citibank sign outside its Tokyo branch November 5, 2007. REUTERS/Toru Hanai

Citigroup aims to shed $400 billion of assets

Reuters - 1 hour 39 minutes ago

NEW YORK (Reuters) - Citigroup Inc said on Friday it plans to shed $400 billion (205 billion pounds) of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets. More »

  • Group Chief Executive of WPP Sir Martin Sorrell speaks during a news conference before the World Economic Forum on East Asia at a hotel in Tokyo June 15, 2006. REUTERS/Kiyoshi Ota

    Microsoft appeals against EU fine

    Reuters - Friday, May 9 06:37 pm

    BRUSSELS (Reuters) - Microsoft said on Friday it was appealing against a record 899 million euro (713 million pounds) fine imposed by the European Commission for using high prices to discourage software competition. More »

  • The 2008 Ford Mustang V-6 is shown at the 2008 New York International Auto Show March 19, 2008. REUTERS/Keith Bedford

    Kerkorian launches tender offer for Ford shares

    Reuters - Friday, May 9 06:26 pm

    DETROIT (Reuters) - Billionaire investor Kirk Kerkorian on Friday launched a planned tender offer to add to a stake in Ford he called an "attractive investment," and not one he acquired to influence the automaker. More »

  • Swiss Life mulls bid for Friends Prov unit

    Reuters - Friday, May 9 05:48 pm

    LONDON (Reuters) - Insurer Swiss Life is considering a bid for Lombard, the high-end insurance unit of Friends Provident , and is already conducting due diligence, sources familiar with the matter said on Friday. More »

  • AIG sees market affecting mortgage units into 2009

    Reuters - Friday, May 9 05:23 pm

    NEW YORK (Reuters) - American International Group sees weak market conditions in the U.S. residential market affecting its operating results at two mortgage units into 2009, its chief executive said on Friday. More »

  • AIG sees no rebound yet for subprime securities

    Reuters - Friday, May 9 05:21 pm

    NEW YORK (Reuters) - American International Group on Friday told investors that the structured credit market for residential mortgage securities, including subprime, does not appear to have rebounded. More »

  • Iberdrola has not bid for British Energy

    Reuters - Friday, May 9 04:59 pm

    LONDON (Reuters) - Spanish utility Iberdrola has not made an offer for nuclear operator British Energy by a deadline on Friday but has not ruled out a future offer, an industry source said. More »

  • EU executive says Microsoft fine "legally sound"

    Reuters - Friday, May 9 04:58 pm

    BRUSSELS (Reuters) - The European Commission is confident a record 899 million euro (713 million pounds) fine it imposed on Microsoft is legally sound, a spokesman for the EU executive said on Friday. More »

  • EDF has bid alone for British Energy

    Reuters - Friday, May 9 04:51 pm

    LONDON (Reuters) - French utility EDF has submitted a takeover proposal for UK nuclear generator British Energy , sources familiar with the matter said on Friday. More »

  • Robert Tchenguiz says has interest in Whitbread

    Reuters - Friday, May 9 04:11 pm

    LONDON (Reuters) - Property investor Robert Tchenguiz said on Friday he had an economic interest through contracts for differences (CFDs) in 5.5 million shares in Whitbread. More »

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