Financial technology in the next 10 years is threatening employees of banks and financial institutions, according to the latest projections of Citigroup. As much as 30 percent of current employees of banks may lose their jobs as a consequence.
Despite summer’s unstable trading period, Citigroup Inc. has managed to impress financial analysts as they exceeded their expectations with their increased third-quarter revenues. While Citigroup struggled with some declines, they went back on track after adjusting certain debt valuations.
Citigroup Inc (C.N) is looking for a buyer for its retail forex brokerage CitiFX Pro as part of efforts to streamline the banking world's biggest currency trading operation, a source familiar with the situation told Reuters on Tuesday.
Citigroup (C.N) has sold its nearly 10 percent stake in Turkey's Akbank (AKBNK.IS) for $1.2 billion, the U.S. lender said on Thursday, its latest disposal of overseas assets to cut costs and boost profits.