Citigroup is cutting up to 200 information technology (IT) contractor roles in China, two people familiar with the matter said, as the bank looks to hire its own staff globally for such operations to improve risk management and data governance. Last July, U.S. bank regulators fined Citi $136 million for making “insufficient progress” fixing data … Read more
Nomura reiterates its “buy” rating with a revised target price of Rs 1,600, down from Rs 1,725. It highlights upcoming triggers, such as Jio tariff hikes, potential IPOs, and the launch of new energy businesses, as drivers for value unlocking. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do … Read more
Global financial services firm Citi has initiated coverage on Varun Beverages with a ‘Buy’ rating and a target price of Rs 800, indicating a potential upside of 36% from the previous closing price of Rs 588 per share. Citi cited the company’s strong market position in India and significant growth opportunities in the soft drinks … Read more
India will struggle to create enough jobs for its growing workforce over the next decade even if the economy grows at a rapid pace of 7%, Citigroup Inc. said, suggesting the world’s most-populous nation will need more concerted steps to boost employment and skills. Citi estimates India will need to create about 12 million jobs … Read more
FMCG major ITC left investors little to chew on in its March quarter results with the shares falling nearly 1% to Rs 437.85 on BSE during the day but brokerages have raised target prices going up to Rs 540. Global brokerage firm Citi, which has a buy call on ITC, raised its target price to … Read more
Fintech firm Credilio unveiled novio – an app to widen the credit card landscape for over 400 million UPI active customers. novio aims to make financial inclusion and credit card lifestyle accessible for every Indian household, the firm said in an official statement. novio has introduced a guaranteed card concept, allowing users to build their … Read more
Citigroup will cut 20,000 jobs over the next two years, its Chief Financial Officer Mark Mason said on Friday, after the bank reported a $1.8 billion loss for the fourth quarter. The lender, which currently has 239,000 employees worldwide, will reduce that headcount by 20,000 as part of a sweeping reorganization, Mason told reporters. Citi … Read more
Economists raised their full-year projections for India’s economy sharply after data on Thursday showed growth outperformed last quarter, fueled by a manufacturing boom. Barclays Plc and Citigroup Inc. predict the economy will now expand 6.7% in the fiscal year ending in March, up from previous forecasts of 6.3% and 6.2%, respectively. Several other analysts also … Read more
Nacho Gutierrez-Orrantia, one of Citi‘s most senior bankers in Europe, will become banking and cluster head for Europe as part of its planned restructuring, the banker told Reuters on Monday. The latest step in the bank’s reorganisation was announced on Monday, with Citi’s CEO, Jane Fraser, saying that “the actions we’re taking to reorganize the … Read more
New Delhi: Ahead of corporate earnings for the June quarter, foreign brokerages have come up with their reports on select domestic companies. While they remain mixed on financials, the views on FMCG suggest a promising outlook for the sector. CSLA has maintained its sell rating on as the growth has slowed from pre-Covid levels. It … Read more