One bright spot of the plenum was the government’s specific reference to China’s 2024 economic growth target, pegged at about 5 per cent, raising speculations that a raft of policies to support and stimulate the economy will be released. A meeting of the party’s all-powerful political bureau scheduled in late July may be the occasion
Regulators slapped Citigroup (C) with $136 million in fines for failing to resolve long-standing deficiencies surrounding controls and risk management, a setback for CEO Jane Fraser as she tries to turn around the giant New York bank. The Federal Reserve and the Office of the Comptroller of the Currency announced the action late Wednesday, just
Bad news for the 1%: per a new exhaustive report from Citigroup, finance is on track to bear the brunt of AI-related displacement. AI will “profoundly change money,” the 124-page report declares in the introductory paragraph. Sure, it creates “new opportunities for growth and innovation, often improving our overall quality of life,” Citigroup says. But
(Bloomberg) — Verition Fund Management LLC has hired Citigroup Inc.’s Shin Kobayashi as a portfolio manager focused on yen rates trading, as the $9.9 billion multi-strategy hedge fund firm expands in Asia, said people with knowledge of the matter. Most Read from Bloomberg Kobayashi will join a Singapore-based investment pod that includes Patrick Bonifant, a