Vikram Pandit

Vikram Pandit gets Saudi vote

SAUDI ARABIAN billionaire Prince Walid Bin Talal expressed confidence on Monday that Citigroup, in which he has a large stake, will survive after the latest rescue plan announced by Washington. "This is really way, way beyond...

Citi's Taxpayer Parachute

Why are Robert Rubin and other directors still employed? U.S. taxpayers, who invested $25 billion in Citigroup last month, will now pour in another $20 billion in exchange for preferred shares paying an 8% dividend. Taxpayers...

Futures Ease after Two-Day Rally (at CNBC)

Stocks looked set to take a breather at the open Tuesday following two sessions of stellar gains on the back of a government bailout for Citigroup and clarity on the incoming government's economic team. The Dow Jones Industrial...

A Bailout Steeped in Irony

Tuesday, November 25, 2008; Page D01 Of all the rescues mounted by the government this year, none carries with it more symbolism, or more irony, than that of Citigroup. Until recently, Citi was not only the largest U.S....

Lack of successor helped Pandit: Report

Vikram Pandit may thank the TINA (There Is No Alternative) factor for still being in job as Citigroup CEO, as the US government reportedly did not push for his ouster in its rescue package for the troubled bank partly because...

Why Citi got Big 3's money

The government wants the Big Three to prove they are worthy of a $25 billion loan but Citigroup didn't have to twist any arms to get another $20 billion. But while Citigroup has already received government funding, GM is still...

CITI CANNOT SLEEP

If Citigroup CEO Vikram Pandit thinks he's dodged a bullet with the massive $351 billion rescue package that Uncle Sam bestowed, then he better guess again. Wall Street watchers think that the federal lifeline extended to the...

FDIC moves in on banks

FDIC chief Sheila Bair has already drawn attention for turning her agency from a regulatory backwater to a force in the reshaping of the financial industry. Now a little-noticed proposal that is close to passing would expand...

US open looks weak on recession data

Stocks fall in Europe as investors fear more bad economic data. BHP Billiton abandons its $66 billion bid for Rio Tinto. The US looks weak at the open, as stock index futures are flat. Paulson is reportedly to announce support...

No change in Citi\'s stake in HDFC: Deepak Parekh

Deepak Parekh, Chairman, HDFC, said there is no change in Citi's holding in HDFC. He spoke to CEO Vikram Pandit recently and learnt that Citi is not selling HDFC shares. However, five to six investors have approached him,...