Core Viewpoint - Citigroup plans to allocate several hundred million dollars more than the previous quarter to address potential loan losses, indicating that major U.S. banks may be preparing for worsening economic conditions [1] Group 1: Financial Provisions - The increase in provisions is driven by credit loss costs and macroeconomic factors [1] - The bank's head of banking, Vis Raghavan, stated that the expected increase in provisions will be several hundred million dollars compared to the previous quarter [1] - The amount allocated for credit reserves may fluctuate frequently based on the company's outlook [1]

Citigroup is reportedly preparing for a potential decline in consumer financial health by putting aside more provisions for credit losses.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.“Given the macro environment ...

Citigroup Inc. (NYSE:C) Morgan Stanley US Financials, Payments & CRE Conference 2025 June 10, 2025 7:30 AM ET Company Participants Vis Raghavan - Corporate Participant Conference Call Participants Betsy Lynn Graseck - Morgan Stanley, Research Division Betsy Lynn Graseck All right. So thank you so much for joining us this morning. I have to read the disclosure first for important disclosures. Please see the Morgan Stanley research disclosure website at morganstanley.com/researchdisclosures. Taking a photogra ...

Citigroup (C) 2025 Conference June 10, 2025 07:30 AM ET Speaker0 we can. All right. So thank you so much for joining us this morning. I have to read a disclosure For important disclosures, please see the Morgan Stanley Research disclosure website at morganstanley.com/researchdisclosures. Taking a photograph and the use of recording devices is also not allowed. This is meant to if you have any questions, please reach out to your Morgan Stanley sales representative. Okay. Thank you so much. With that out of t ...

华夏时报（www.chinatimes.net.cn）记者 李明会 北京报道 近日，花旗集团宣布推进全球简化工作，作为其中一部分，将精简全球技术解决中心——花旗金融信息服务（中 国）有限公司（下称"花旗金融"）在上海和大连的技术人员，包含第三方人员（约500人）在内，约减少4000名技 术人员。 在此次裁员中受到影响的宋女士在接受《华夏时报》记者采访时表示，"虽然'一锅端'来得非常突然，但'N+6+3个 月带薪假'的大礼包还是让我'意满离'（网络流行语，意为满意离开）。" 此次人员调整是否影响花旗在华战略？ 对此，花旗相关工作人员在6月9日接受《华夏时报》记者采访时表示，此次调整不影响花旗银行（中国）有限公 司（下称"花旗中国"）。花旗坚定在中国长期发展，持续服务企业和机构客户的跨境银行需求。 突然的裁员 国家企业信用信息公示系统显示，花旗在中国内地有三家金融信息服务公司，分别在上海、大连和广州。根据公 示，位于上海和大连的两家处于存续（在营、开业、在册）状态，位于广州的公司为在营（开业）企业，而此次 裁员仅涉及上海和大连两地技术人员，包含500名外包员工在内，裁员约涉及4000人。 "仅仅保留了非常少的员工 ...

Core Viewpoint - The global investment market in Q3 is characterized by uncertainty, influenced by geopolitical factors and trade policies, presenting both challenges and opportunities for investors [1] Group 1: HSBC Insights - HSBC emphasizes the importance of structural growth in Asia, particularly in China, India, and Singapore, which are expected to mitigate some impacts of the US-China trade war [2] - The bank maintains a diversified investment strategy, adjusting its outlook for US stocks to positive, anticipating a slowdown in economic growth to 1.6% by 2025, while still facing uncertainties [2][3] - HSBC suggests a focus on quality bonds and low-correlation assets, such as gold, to enhance portfolio diversification amid ongoing geopolitical risks [3] Group 2: Standard Chartered Insights - Standard Chartered upgrades its global stock outlook to overweight, citing improved market technical indicators and resilience in economic activity and corporate earnings as key factors [4] - The bank also increases its allocation to US stocks slightly, while emphasizing the importance of diversification across major regions, particularly favoring Chinese stocks due to stimulus measures [4] - Standard Chartered lowers its stance on gold to a core holding, anticipating a period of consolidation, while still finding high-quality bonds attractive in the current yield environment [4] Group 3: OCBC Insights - OCBC highlights that the current weakness of the US dollar is influenced by trade policies, geopolitical factors, and global capital flows, rather than solely by interest rate cuts [5] - The bank advocates for a dynamic asset allocation strategy that increases exposure to safe-haven assets like gold and yen, while also focusing on currencies and equities driven by internal demand in Asia [5] - OCBC notes that some companies are shifting production to ASEAN countries, indicating a transition from simple exports to building local supply and industrial chains [5]

V i e w p o i n t | 05 Jun 2025 10:56:57 ET │ 10 pages US Economics Imports Plunge as Tariffs Take Effect CITI'S TAKE The trade balance tightened substantially in April to –$61.6 billion as imports of goods fell by close to 20%. Of course, substantial tariffs that began in April would weigh on import volumes. But the decline in imports likely also reflects a pullback from front-loading of some goods as well as a potential pause in goods entering the country as importers await more tariff clarity. As most re ...

In this articleDISWMTCMSFTPGAMZNLayoffs are illustrated by an oversized pair of scissors, that looms over seven workers sitting in office chairs suspended by strings.Mathisworks | Digitalvision Vectors | Getty ImagesWhile Elon Musk has ended his government cost-cutting initiative that resulted in thousands of federal job cuts, mass layoffs are still roiling corporate America.Companies are under increasing pressure to trim costs against the backdrop of global economic uncertainty brought on by President Dona ...

Core Insights - Citigroup plans to cut approximately 3,500 jobs at its technology centers in Shanghai and Dalian by early Q4 2025 as part of its risk management enhancement efforts [1][7] - The job cuts primarily involve full-time positions, with some roles being relocated to other technology centers [2][4] - This workforce reduction is part of a broader strategy to simplify global technology operations and improve data management following a $136 million fine from U.S. regulators for inadequate data management progress [3][5] Job Cuts and Restructuring - The job cuts at Citigroup's China technology centers are part of a global initiative to reduce 20,000 jobs by 2026, aiming for annualized savings of $2-2.5 billion [5][7] - Citigroup has previously announced plans to cut up to 200 IT contractor jobs in China, indicating a significant restructuring in its technology operations [2][5] - The restructuring is intended to address regulatory requirements and streamline internal processes [4][5] Business Overhaul and Strategic Focus - Citigroup is focusing on growth in core businesses by reducing its international operations, including exiting consumer banking in 14 markets across Asia and EMEA [6][7] - The bank has successfully exited consumer banking in nine countries and is winding down operations in Korea, reallocating capital to higher-return segments like wealth management and investment banking [6][7] - Citigroup's stock performance has seen a 5.9% increase over the past six months, outperforming the industry growth of 3.5% [9]

【导读】花旗回应网传大规模裁员 6月5日，市场传出花旗将启动大规模裁员的消息。 随后，花旗官方证实，作为其在全球持续推进的简化工作的一部分，将对其全球技术和业务支持部门做 出下一阶段的调整。 具体方案为：将对全球技术和业务支持部门作出人员调整，将精简其位于中国上海和大连的全球技术解 决中心，减少约3500名技术人员。 早在3月份，就有媒体报道称，花旗集团计划大幅减少对信息技术承包商的依赖。 花旗集团首席财务官Mark Mason亦透露，随着公司继续削减开支，计划在2025年预留6亿美元作为遣散 费。 据悉，花旗目前还将进行为期数年的全球业务重组，以简化结构和提高绩效。去年，花旗纽约、花旗新 加坡已启动了人员裁减工作。 员工人数减少后 将缩减上海和大连两地办公场地规模 根据调整计划，完成裁员后，花旗将同步缩减上海和大连两地的办公场地规模。 花旗表示，本次调整旨在帮助技术和业务支持部门推动精简运营的整体战略，包括简化组织架构、降低 依赖第三方机构提供的人员和缩减软件数量规模等。 目前，该调整已被涵盖在花旗2025年度的财务计划当中，预计在2025年第四季度初前完成上述技术人员 的调整。 市场消息显示，5日上午花旗 ...