A record share of U.S. corporate- bond trading has moved to computers as buyers who traditionally transacted over the phone seek faster ways to buy and sell in a market where Wall Street’s human traders are retreating.
Citigroup Inc., the third-biggest U.S. bank, may have to drop plans to return capital to shareholders after failing one part of the Federal Reserve’s stress test, Credit Suisse Group AG analyst Moshe Orenbuch said.
William “Wild Bill” Janklow ’s law office in Sioux Falls, South Dakota, is crowded with mementos from his 16 years as a Republican governor. On a low, wooden bookcase, near bottles of hot sauce custom labeled for his annual Buffalo Roundup , he keeps a 4-foot length of red ribbon festooned with Citibank credit cards.
Citigroup Inc., the third-biggest U.S. bank by assets, posted a 42 percent increase in second- quarter profit that beat analysts’ estimates as stock-trading revenue surged and losses on unwanted assets declined.