Citigroup’s Inc.’s shareholders have nothing but losses to show for Chuck Prince’s four-year tenure as CEO of the financial giant.
Now he gets a chance to give advice to Xerox Corp.’s CEO, Anne Mulcahy: Xerox’s directors today elected Prince to join them on the copier company’s board.
It just goes to show that even when [...]

General Motors Corp. has hired Citibank to help it review the options for the Hummer brand, the automaker told dealers today in a conference call held by the automaker’s head of North American sales, service and marketing.
GM Chairman and CEO Rick Wagoner announced on June 3 that the company is considering “all options” for the [...]

LOS ANGELES (AP) — Citibank is suing Ed McMahon, seeking to recoup nearly $200,000 lent to the financially strapped Hollywood icon, court records show. Citibank filed the lawsuit against McMahon in Los Angeles Superior Court on June 9, according to the documents. The bank’s suit seeks at least $179,687 in damages as well as attorney’s [...]

APPLYING FOR FINANCIAL aid often triggers apprehension in college-bound students and their parents, but today’s crisis in the educational loan industry has only escalated fear and anxiety.
Ben Miller, who writes for Ed Policy Watch, claims, “to date there haven’t been any reported cases of students being unable to obtain a Federal Family Educational Loan (FFEL). [...]

PARIS (AFP) — Credit Mutuel of France has made a firm bid for the German retail banking activities of US giant Citigroup, which operates in Germany under the name Citibank, sources close to the matter said Friday.
They said the sale of the unit, valued by analysts at between three and five billion euros (4.7-7.8 billion [...]

Hackers Break Into 7-Eleven Machines, Make Off With $2 Million
NEW YORK (CBS) ? Police have uncovered a massive identity theft scam in New York City. Thieves have been stealing pin numbers and have gotten away with millions of dollars in cash. The theft came from a very convenient place – a popular convenient store.
They’re cash [...]

Europe’s banks need to head back out on the fund-raising circuit. They may have to bring in as much as $141 billion, according to Goldman Sachs. Reuters writes that this capital will be necessary “to reach an aggregate Tier I ratio of 9 percent — a level achieved by European banks that have recapitalized recently.”
Since [...]