When Citigroup warned in early November that it was likely to write down its portfolio by $8 billion to $11 billion in the fourth quarter because of exposure to bad loans, investors recoiled at the size of the losses. Some now say those early estimates appear drastically understated. ...more

December 28, 2007

Some credit card companies are raising interest rates on good customers even if they pay down their balances on time every month. The reason they cite is that the customer's credit rating has fallen elsewhere. A Senate Homeland Security and Governmental Affairs subcommittee hearing on credit card practices heard the testimony of people who had a nasty surprise when they thought they were paying down their balances, but it turned out they were only paying off interest. Major credit card companies such as Citigroup and JPMorgan Chase & Co. have said they will discontinue the practice of raising a customer's interest rate based solely on a change in their credit score. Capital One said its policy is not to change customers' interest rates if their credit scores go down. ...more

December 5, 2007

Wall Street barreled higher Wednesday for the second day in a row, giving the Dow Jones industrial average its biggest two-day point gain in five years after a Federal Reserve official hinted that the central bank may lower interest rates again. ...more

November 29, 2007

Charles Prince is walking out Citigroup's doors with potentially millions in his pocket, leaving behind a bank that many believe needs serious therapy. ...more

November 6, 2007

Citigroup Inc. Chairman and Chief Executive Charles Prince, beset by the company's billions of dollars in losses from investing in bad debt, resigned Sunday and is being replaced as chairman by former Treasury Secretary Robert Rubin. ...more

November 5, 2007

Despite losses from souring home loans and tough-to-sell corporate debt, JPMorgan Chase & Co. managed to beat Wall Street's expectations and eke out a 2 percent profit rise in the third quarter. ...more

October 18, 2007

Citigroup's report of a 57 percent drop in third-quarter profit didn't surprise anyone. What did sound some alarms was the biggest U.S. bank's somber take on current conditions - suggesting that a hoped-for industry rebound may not come so easily. ...more

October 16, 2007

Mexico airline company Consorcio Aeromexico SAB said Friday that a trust run by a unit of Citigroup has launched a $150.4 million tender offer for the company's shares. ...more

September 15, 2007