Citigroup analysts predict that oil prices could plummet to $60 per barrel by 2025 if OPEC+ doesn’t further cut production. Increased supply from non-OPEC countries and waning demand are contributing factors. The bank recommends selling oil when prices approach $80 per barrel.
Citigroup has refuted claims by a former managing director who alleges she was fired for reporting attempts to provide inaccurate information to regulators. The bank asserts that the employee’s termination was due to performance issues, while the former executive insists she was retaliated against for raising concerns about data manipulation. This case highlights ongoing scrutiny of Citigroup’s risk management practices and its compliance with regulatory directives.
Goldman Sachs has hired veteran investment banker Matt Beitzel from Citigroup to lead its dealmaking efforts with banks and financial services firms across the Americas. This appointment follows a series of recent senior leadership changes within the bank’s investment banking team, signaling a focus on growth and strategic partnerships.
Dell Technologies Inc (DELL) shares are trading higher on Thursday following positive analyst coverage from both JPMorgan and Citigroup. JPMorgan analyst Samik Chatterjee maintained an Overweight rating and raised the price target, citing Dell’s relative underperformance in recent months and potential upside in the AI server market. Citigroup analyst Asiya Merchant also maintained a Buy rating, acknowledging recent share price declines but highlighting improving revenue and potential for margin expansion.
The financial sector is showing signs of strength, with rising expectations for a soft landing of the U.S. economy and improving consumer sentiment levels. This has created a favorable environment for financial stocks, making them attractive for investors seeking value, growth, or dividend income. This article takes a closer look at three financial stocks that could continue to perform well in the coming months: Citigroup (C), iShares Global Financials ETF (IXG), and Visa (V).
The Commodities Futures Trading Commission (CFTC) is investigating banks for potentially discouraging whistleblowing. The CFTC is asking for non-disclosure agreements, employment records, and customer agreements from banks like JPMorgan Chase, Bank of America, and Citigroup. This probe follows similar actions by the US Securities and Exchange Commission (SEC), which has fined companies for violating whistleblower protection rules and launched a program to encourage reporting of illegal activity. JPMorgan recently settled with the SEC for $18 million for whistleblower protection violations.
A Citigroup managing director has filed an amended lawsuit alleging a culture of sexual harassment and gender discrimination at the bank. Ardith Lindsey claims that her supervisor, Mani Singh, subjected her to violent threats and abuse after she ended their relationship. According to Lindsey, the bank failed to protect her despite numerous complaints, and she is now on leave due to the psychological impact of the abuse. Citigroup has not yet responded to the allegations.
