iflove Archive for the 'Global Financial Storm' Category

Citigroup posts $8.29B loss, separates traditional banking business from riskier ventures. Citigroup says it is splitting up into two businesses as it sustains its fifth straight quarterly loss. One business, Citicorp, will do traditional banking, and the other, Citi Holdings, will hold the company’s riskier assets.
Citigroup posts loss, splits up the bank. Citi also spent [...]

Circuit City to close 567 remaining US stores and cut more jobs: Bankrupt Circuit City Stores Inc., unable to work out a sale of the company, said Friday it will go out of business — closing its 567 U.S. stores and cutting 30,000 jobs. Circuit City became the largest retailer to fall victim to the [...]