Welcome to our dedicated page for Citigroup news (Ticker: C), a resource for investors and traders seeking the latest updates and insights on Citigroup stock.
Citigroup Inc. reports developments across a global banking franchise that serves corporations, governments, investors, institutions and individuals in more than 180 countries and jurisdictions. Recurring updates include quarterly results, financial data supplements, segment reporting changes and business activity in Services, Markets, Banking, Wealth and U.S. personal banking.
Citi news also covers capital actions such as common and preferred stock dividends, senior note tender offers and other debt-market transactions. Additional company updates include wealth-management programs, issuer services and depositary receipt mandates handled through Citibank N.A. and related Citi businesses.
Citi Velocity has been recognized as the no. 1 platform for Web-Based Analytics by Institutional Investor for the fourth consecutive year, reflecting its prominence among institutional clients. According to the press release, the platform saw a 51% increase in client views of webcasts in 2022, and a 45% rise in consumption of inflation-related data. Over 200,000 clients and 60,000 colleagues engaged with the platform, which offers extensive resources including trading desk commentary and cross-asset market research.
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Citigroup will release its fourth quarter results on Friday, January 13, 2023, at approximately 8 a.m. ET. A live webcast and teleconference will follow at 11 a.m. ET for an in-depth review. The press release, webcast, and presentation materials can be accessed at Citigroup Investor Relations. For participation via phone, U.S. and Canada callers can dial (800) 343-1703, while international callers should use (785) 424-1226.
Citi Global Wealth Investments predicts a shallow recession in 2023, leading to the weakest global economic growth in 40 years outside of previous crises. The report highlights a declining earnings per share by 10% and a potential recovery in Chinese growth. US inflation is expected to ease to 3.5%, with the Federal Reserve likely cutting interest rates in the latter half of the year. The report advises investors to remain fully invested and look for opportunities in US fixed income and defensive equities while preparing for a market recovery in 2024.
Jane Fraser, CEO of Citi, will present at the Goldman Sachs 2022 US Financial Services Conference on December 7 at 11:20 a.m. (Eastern). A live webcast is available at Citi Investor Relations. A replay and transcript will follow the event.
Citi operates in over 160 countries, offering a wide range of financial services to corporations, governments, and individuals. For more information, visit www.citigroup.com.
Citi's Issuer Services has been appointed as the Depositary Bank for Sunwoda Electronic and Hangzhou GreatStar's Global Depositary Receipt (GDR) programs under the China-Swiss Stock Connect. Sunwoda's GDR program raised US$440 million with an offering price of US$15.30, while GreatStar's program raised US$155 million at US$13.08 per GDR. Each GDR represents five A shares. This milestone enhances Sunwoda's globalization strategy and GreatStar's access to global markets, demonstrating strong investor support for Chinese firms in the new energy sector.
AT&T and Citi have launched the new AT&T Points Plus Card, a no annual fee credit card aimed at rewarding wireless customers. The card allows cardmembers to earn up to $240 annually in statement credits for their AT&T wireless bills after eligible spending. Customers earn 3 ThankYou Points per dollar spent at gas stations, 2 Points at grocery stores, and 1 Point on other purchases. New cardholders can also receive a $100 bonus after spending $1,000 within the first three months.
Citi Virtual Accounts has experienced significant growth in 2022, with account balances increasing by 82% and adoption growing by 33%. This innovative solution simplifies bank accounts, offers real-time cash management, and enables instant access to cash capabilities. Live in the U.S. and 16 Western European countries, it aims to expand into Asia Pacific and Canada. The service has been recognized as the Best Global Virtual Accounts solution by Global Finance in 2022, showcasing its impact on clients' digital transformation and efficiency.
Citi released three comprehensive reports under its Global Perspectives & Solutions (Citi GPS) initiative, highlighting challenges and opportunities in addressing the climate crisis. These reports are set for discussion at the UN Climate Change Conference (COP27) in Egypt. Key findings include a requirement for $125 trillion investment by 2050 for net-zero goals and the impact of food insecurity on a third of the global population. Citi emphasizes the importance of public-private sector collaboration to tackle these challenges.
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