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By Dan Wilchins and Joseph A. Giannone NEW YORK (Reuters) - Citigroup Inc inched closer to selling a stake in its Smith Barney retail brokerage business to Morgan Stanley, but its shares tumbled as investors fretted over the bank's expected fourth-quarter loss and future capital needs. Morgan Stanley would essentially combine Citigroup's Smith Barney unit with its own retail business to create the world's largest brokerage, according to sources. Citigroup, the third-largest U.S. bank by assets, would retain a 49 percent stake in the joint venture, and receive a payment in excess of $2.5 billion as well as a bolstered capital position. Morgan Stanley would expect over time to buy the entire business. The two banks have agreed on major terms, and are expected to announce a deal by mid-week, a person familiar with the matter... [read full story]
plans for challenges and to achieve goals they set, just like sports coaches do for their athletes. Companies that have business coaching tackle challenges with a plan and business strategy from the business owner’s view and an...
Senator Square: Veterans Day and other celebrations planned By Erin Been For the Nevada Appeal There will be no school Wednesday in observance of Veterans Day. *** The Carson High School Naval Junior ROTC Unit will host its...
by: Washington November 08, 2009 | about: ) is actually already being broken up: Citigroup Inc.... is already being broken up under part-ownership by the government, [Richard] Bove and other analysts say... Citigroup, roughly a...
When Sharon Sakson was laid off recently from her job as a television writer and producer, she burned through her savings to pay the $2,400 monthly mortgage on her home. But she soon decided it didn't make sense: Her home was...
