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Citigroup

Paperless billing is costing the paper industry. But storeless shopping helps.

by Elizabeth Trovall
Nov 3, 2023
Revenue for the U.S. paper mill industry has declined in recent years. E-commerce, though, has stirred a boom in cardboard packaging.
A box of paper from fictional company Dunder Mifflin, made famous in "The Office."
Donald Bowers/Getty Images for Quill.com
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Big banks post big profits

by Matt Levin
Oct 13, 2023
The classic way banks make money rests on three words: net interest income.
Big banks JPMorgan Chase, Wells Fargo and Citigroup told investors they netted a combined $22 billion this past quarter.
Justin Sullivan/Getty Images
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Fourth-quarter reports show some big banks are saving for a recession

by Mitchell Hartman
Jan 13, 2023
In the face of high inflation, rising interest rates and a slowing global economy, banks are setting aside reserves — just in case.
Bank of America told investors Friday that it generated a 2% profit bump last quarter. Many big banks have been squirreling away cash to prepare for an economic downturn.
Brandon Bell/Getty Images
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Why big banks are "canaries in the economic coal mine"

by Mitchell Hartman
Jan 9, 2023
On Friday, Bank of America, Citigroup, Wells Fargo and JPMorgan Chase will post earning reports. Parts of their business struggled in the fourth quarter.
Michael M. Santiago/Getty Images
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What are your options after sending money by accident? It depends.

by Sabri Ben-Achour , Alex Schroeder and Jarrett Dang
Sep 26, 2022
A recent court case involving Citi brought the issue of accidental payments into the spotlight.
While there are legal protections for consumers around accidental payments and fraud, banks have a spotty record of following them, says Carla Sanchez-Adams of the National Consumer Law Center.
Courtesy Steven Byeon
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Some big Wall Street banks reverse their back-to-office plans — again

by Meghan McCarty Carino
Jan 3, 2022
They've been among the most aggressive employers when it comes to bringing workers back into face-to-face contact.
Despite investment banking companies' preference for in-person work, omicron has complicated the return-to-office plans of JPMorgan, Citigroup and Goldman Sachs.
Johannes Aisele/AFP via Getty Images
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COVID-19

No noon meetings: Citigroup tries to address burnout

by Meghan McCarty Carino
Oct 20, 2021
Along with protecting the lunch hour, the bank also suggested meetings should be no more than 45 minutes.
Bloomberg reports that Citigroup told staff to reduce meeting times and avoid lunchtime meetings.
Mario Tama via Getty Images
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Why does Citibank want to open more branches in the age of online banking?

by Justin Ho
May 17, 2021
Mostly, it's about marketing.
Physical bank branches are good for building relationships with customers whom the bank hopes will buy more services over time.
Andrew Caballero-Reynolds/AFP via Getty Images
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Big banks' profits are doing better than the economy

by Justin Ho
Jan 15, 2021
They've been raking in money thanks to the strong stock market, companies' appetite for debt and initial public offerings.
Spencer Platt/Getty Images
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Race and Economy

U.S. suffered $16 trillion loss over 20 years due to racism new Citigroup study finds

by David Brancaccio , Nova Safo and Alex Schroeder
Sep 23, 2020
The biggest factor is entrepreneurship, where inequities resulted in a $13 trillion loss.
Mario Tama/Getty Images
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