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May 20, 2024
05/24
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, citigroup, and citigroup. >> really? >> absolutely. >> why why not -- why isn't goldman sachs in that mix? >> citigroup has a component of the capital markets, which are doing better than expected. >> you don't think goldman sachs' capital markets >> i recommend goldman sachs it's done well citigroup is still trading at a 30% discount to tangible book value. this is my fourth decade doing this used to be you would go to tangible book value te depths of a recession. they're at a 30% discount and we're not in a recession. >> because they had to do a restructuring for the most part, as jane fraser came in and made that her thing. >> and they just finished a watershed seven-month simplification during which many said citi would blow up and lose revenues and people and guess what they exceeded expectations in the first quarter as much as any bank and they're on track to have the best 2024 guide for revenues and expenses of any bank in over three years we expect earnings to double, only one other bank can get above 50%, goldma
, citigroup, and citigroup. >> really? >> absolutely. >> why why not -- why isn't goldman sachs in that mix? >> citigroup has a component of the capital markets, which are doing better than expected. >> you don't think goldman sachs' capital markets >> i recommend goldman sachs it's done well citigroup is still trading at a 30% discount to tangible book value. this is my fourth decade doing this used to be you would go to tangible book value te depths of a...
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May 16, 2024
05/24
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if you are citigroup, how do you encourage your clients to be doing that? simple but the reality is we need to be and we are intentional about these efforts. it is not rocket science. i think it is a matter of knowing and we do treat them as clients, knowing what the capabilities are and including them. we do have to speak to issuers. we do have to help shine the light on their capabilities. we have to do better at being intentional. the whole market benefits when we do that. sonali: you mentioned affordable housing and i'm glad you did because a lot of people are complaining about this idea we are in different type of housing crisis today. what is the conversation look like for you inside of citigroup with these diverse financial institutions and you had mayors at this event as well. >> when we think about affordable housing for these banks, it is about helping us to reach the opportunities that will afford us the ability to support affordable housing transactions. we do a great deal of business in certain parts of the country. but we are not everywhere. f
if you are citigroup, how do you encourage your clients to be doing that? simple but the reality is we need to be and we are intentional about these efforts. it is not rocket science. i think it is a matter of knowing and we do treat them as clients, knowing what the capabilities are and including them. we do have to speak to issuers. we do have to help shine the light on their capabilities. we have to do better at being intentional. the whole market benefits when we do that. sonali: you...
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obviously, we're starting with citigroup.al financial con glom can rate that always disappoints, always disappoints. you look at their performance over the last 5 years versus, let's say, jpmorgan. super underperformer. they're getting back with on track. they're doing some great things. investor expectationses are so low, this thing's trading at a 30% discount to tangible book value. if it, if they actually just prove that a they can get back the blocking and tackling, this in stock has 50% upside over the next 24 months. stuart: oh, that would be juicy, wouldn't it? >> it would be great. stuart: paypal. >> another turn-around story. these are guys who saw the shiny, new object as we were emerging from the pandemic. they wanted to be a jack of all trades, but sometimes you end up being a master of none. and in doing so, they wanted to get into buy now, pay late err. they wanted to get into stock trading. they are now refocusing on their branded checkout button, total payment volume up 14% year-over-year. expectations were up
obviously, we're starting with citigroup.al financial con glom can rate that always disappoints, always disappoints. you look at their performance over the last 5 years versus, let's say, jpmorgan. super underperformer. they're getting back with on track. they're doing some great things. investor expectationses are so low, this thing's trading at a 30% discount to tangible book value. if it, if they actually just prove that a they can get back the blocking and tackling, this in stock has 50%...
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May 15, 2024
05/24
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bank of america and citigroup hit their highest levels in over two years. xlf spdr etf off its record. holdermaker onon is beating its estimates and raising its annual benefits forecast as it races a stronger demand for its footwear. they've outperformed other legacy names line under armour and nike in the last year. and boot barn, the company offering light year earnings despite topping first quarter estimates. before today's drop, it was up over 40% in the last half year and 3% off its record recent high -- recent high, not record. boot barn shares are down 5.5%. >>> turning now to the middle east and developing story when it comes to an arms deal whith the u.s. and israel. dan is standing by with the details. dan. >> good morning to you. look, the details are still emerging here, but reports say this new deal could see more than a billion dollars worth of weapons being sent to israel. that is a huge number. when you break down some of the figures here, it includes 700 million in tank ammunition, $500 million in tactical vehicles, and $60 million worth of
bank of america and citigroup hit their highest levels in over two years. xlf spdr etf off its record. holdermaker onon is beating its estimates and raising its annual benefits forecast as it races a stronger demand for its footwear. they've outperformed other legacy names line under armour and nike in the last year. and boot barn, the company offering light year earnings despite topping first quarter estimates. before today's drop, it was up over 40% in the last half year and 3% off its record...
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May 29, 2024
05/24
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annabelle: that was joanna from the citigroup global markets conference. david, that ubs asian investment conference underway in hong kong. david: in fact, our next guest is the curator overseeing the event. joining us from the four seasons is the head of apac product management. good morning, thank you for making the time. i was there were you are yesterday, i was having a look at the agenda, and we are two days in, you're the curator, so we will make you stick your neck out. what was to stand out based on all the conversations and panels that you guys have had their? >> good question is people have picked one session because we have had so much fantastic content. the thai prime ministers speaking on the room is packed. it's very rare to have a sitting leader speaking at an investment conference, so we have been very honored to have him here today and he has been giving us an extremely bullish look on the thai economy tourism coming back, fbi booming, that has been a big standout today. yesterday, inevitably, one of the big debates is around marshall poli
annabelle: that was joanna from the citigroup global markets conference. david, that ubs asian investment conference underway in hong kong. david: in fact, our next guest is the curator overseeing the event. joining us from the four seasons is the head of apac product management. good morning, thank you for making the time. i was there were you are yesterday, i was having a look at the agenda, and we are two days in, you're the curator, so we will make you stick your neck out. what was to stand...
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May 25, 2024
05/24
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as the deposition nation for regional -- destination to ensure that companies like amazon, apple, citigroupcoca-cola -- i had an opportunity to witness the investment by coca-cola of another $175 million in our countries. dell, del monte, general electric, i.b.m. microsoft, oracle, synergy. do i continue? all of these -- [applause] pres. ruto: and i have not mentioned them in orders of any priority. these are all of our companies and we have fantastic relationships with them. we want all of them to guarantee maximum investments by working in kenya, working in kenya and working with kenya. and the entire government it make kenya the best place it to do business globally has grown fruit. it is ranked the third most attractive place to do business in africa by the world bank. i appreciate that. [applause] pres. ruto: i appreciate the american chamber of commerce and kenya leadership and u.s. a.m. bossor to kenya, mega -- meg whitman. meg whitman is a godsend and she is done sometimes single handedly with her team in nairobi what orders narrowly would be in the realm of miracles. her leadership
as the deposition nation for regional -- destination to ensure that companies like amazon, apple, citigroupcoca-cola -- i had an opportunity to witness the investment by coca-cola of another $175 million in our countries. dell, del monte, general electric, i.b.m. microsoft, oracle, synergy. do i continue? all of these -- [applause] pres. ruto: and i have not mentioned them in orders of any priority. these are all of our companies and we have fantastic relationships with them. we want all of...
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May 28, 2024
05/24
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citigroup, ubs and they were the last ones.cross the country companies bringing employees back to office. it's hard to build trust virtually. it's hard to develop your people over screen. we brought our regional staff back to the office. that is driving movement. katie: it's interesting to see that movement around the country. let's talk about the rental market. when we think about the trends we are seeing with prices being cut on houses. what are we seeing with the rental market? robert: the last five months rental prices were down each consecutive month which was good. this year, we have seen it but it looks like it is starting to plateau and hopefully plateaus going forward. katie: robert, great to see you again. our thanks to robert reffkin the ceo of compass. abigail: it feels like the trading of a shortened holiday week. this is showing in some of the volatility indexes. if we take a look in white, this is the vix at 12.89. super complacent, bluest the bond index with the volatility off its silicon valley bank highs. in y
citigroup, ubs and they were the last ones.cross the country companies bringing employees back to office. it's hard to build trust virtually. it's hard to develop your people over screen. we brought our regional staff back to the office. that is driving movement. katie: it's interesting to see that movement around the country. let's talk about the rental market. when we think about the trends we are seeing with prices being cut on houses. what are we seeing with the rental market? robert: the...
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May 1, 2024
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you brought up citigroup before. what is the appeal of financials right now? >> we have to march the consumer very carefully, but overall, they have christine balance sheets and we are continuing to see strength in their earnings. a 7% dividend trading at a relatively depressed multiple. if we come home domestically, there are companies like jp morgan. a relatively stronger side of the market. it is a space that we are constructive on. katie: does the fed actually cut rates this year? >> baidu think that they cut once. now that it is on the table, i think the bias is high, but i think they will continue to follow through. it will not reintroduce. it is something that market will be watching carefully for. katie: we appreciate your time on this fed day. let's take a look at what is happening underneath the markets now. we will do that with bailey. you have three showstoppers today. tell me what is going on with amazon. >> blowing past what they were looking for. the stock is in the red modestly. some risky assets in the red, but the big thing when you take a lo
you brought up citigroup before. what is the appeal of financials right now? >> we have to march the consumer very carefully, but overall, they have christine balance sheets and we are continuing to see strength in their earnings. a 7% dividend trading at a relatively depressed multiple. if we come home domestically, there are companies like jp morgan. a relatively stronger side of the market. it is a space that we are constructive on. katie: does the fed actually cut rates this year?...
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May 6, 2024
05/24
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the citigroup ceo sees more upside for the u.s. equity rally. says stocks could benefit from strong fundamentals and possible rate cuts. >> certainly valuations are quite high on many of the metrics. technology is a very high percentage in terms of valuation. there's a potential win for equities here in the near term because if growth is stronger, equity valuations benefit. and if rates come down, equity valuations benefit. so it's opportunity for potential win-win here. haidi: saying capital markets have strong -- shown resilience. >> before talking about the future, let's talk about the recent past. if you think about what the world is been through in terms of the challenges it's faced, any challenge in the real economy translates to the financial economy. pat a pandemic, a once in a century kind of pandemic and we've also had war break out in europe. we think of how capital markets have adapted to that, how you see underlying economies prepare themselves, and the capital markets are very much a function of what goes on in the real economy. we
the citigroup ceo sees more upside for the u.s. equity rally. says stocks could benefit from strong fundamentals and possible rate cuts. >> certainly valuations are quite high on many of the metrics. technology is a very high percentage in terms of valuation. there's a potential win for equities here in the near term because if growth is stronger, equity valuations benefit. and if rates come down, equity valuations benefit. so it's opportunity for potential win-win here. haidi: saying...
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May 16, 2024
05/24
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you mentioned the consumer has remained very resilient household net worth up i think you said 8% citigroupentioned a kshamed consumer affluent consumer doing very well spending but lower income consumer is certainly facing some challenges, you look at retail sales down once strip out auto and gas down 1. .1% month-over-month, the target shopping walmart trade downer effect is the consumer health enough to keep this rally o going? >> i think the consumer overall is. that health affect impacts everybody driving the effect housing prices going up in '24 markets continued to go higher as housing that impacts everybody. unemployment still only 3.9%. you make a good point. you are starting to see substitution but overall, and bank of america publishing dalt shows if you look at checking deposits in her system still well above 201 levels, excess savings have come down levels in general sustainable for consumer spending to remain strong enough to give you a 2%ish gdp growth i think is enough. >> yields this morning, we have lots of commentary from fed officials now all saying the same thing higher
you mentioned the consumer has remained very resilient household net worth up i think you said 8% citigroupentioned a kshamed consumer affluent consumer doing very well spending but lower income consumer is certainly facing some challenges, you look at retail sales down once strip out auto and gas down 1. .1% month-over-month, the target shopping walmart trade downer effect is the consumer health enough to keep this rally o going? >> i think the consumer overall is. that health affect...
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May 10, 2024
05/24
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those other lenders working to integrate their retail businesses in asia from citigroup here haslinda at the question is whether that is sustainable going forward. avril: it was not just ocbc that beat. it has been a good quarter for the three of them. i think it allays some of the concerns because wealth trading fees surged. we are seeing the lending revenues be robust. where there is concern, speaking to how sustainable this is, is in the net interest margins. it has come down from the previous quarter at 2.2 7% now. as the funding costs rise, could come under further pressure. they might want to lock in the higher interest rates before the fed turns dovish. we are seeing potential pressure on its asset quality. the spike in the non-for -- and the nonperforming assets is something we are keeping an eye on. haslinda: how does it look for the next 12 months? it is a difficult environment for a lot of the countries. avril: a difficult environment but for the first quarter, they have been faring well so it shows how lending profits is still holding up despite the higher for longer inter
those other lenders working to integrate their retail businesses in asia from citigroup here haslinda at the question is whether that is sustainable going forward. avril: it was not just ocbc that beat. it has been a good quarter for the three of them. i think it allays some of the concerns because wealth trading fees surged. we are seeing the lending revenues be robust. where there is concern, speaking to how sustainable this is, is in the net interest margins. it has come down from the...
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May 20, 2024
05/24
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citigroup, 41.is he telling us to lighten up our positions in these kinds of stocks >> well, if you were a trader, i think you could. no question about it i think you have an environment where certain things are improving as it relates to the banks, and certain things are decelerating as it relates to the consumer we talked about that you have somebody that runs the best bank in the world net interest margins for jpmorgan they have to pay less for deposits than anybody else right? if the market were to get weaker, they will capture a market share like they have every single time it happens you are dealing with a different circumstance with this bank than maybe others >> joe >> i would agree with that that's the reason why i own jpmorgan, and i think it's going to go well above 225 we have significant exposure to the financial sector now we are at 23%. that's well beyond what the s&p 500 is now, it's not isolated to money center banks, and it's what we were talking about, it's in asset managers and i
citigroup, 41.is he telling us to lighten up our positions in these kinds of stocks >> well, if you were a trader, i think you could. no question about it i think you have an environment where certain things are improving as it relates to the banks, and certain things are decelerating as it relates to the consumer we talked about that you have somebody that runs the best bank in the world net interest margins for jpmorgan they have to pay less for deposits than anybody else right? if the...
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May 7, 2024
05/24
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. >> citigroup's jane fraser says this is cis complicating the fe job. >> we have to see services inflationnd we need more data points. it's hard to get a soft landing. we're hopeful. it is always hard to get one. so far, the fed is trying to navigate a complicated system. >> we have ubs ceo telling cnbc this morning that the jury is still out when it comes to rate cuts. >> i thought it was too much of a bullish view on the matter. i mentioned before we are still pricing in three rate cuts for the rest of the year. the jury is still out in my point of view. inflation is sticky. it remains to be seen if rate cuts are enough and needed to sustain this new environment in terms of control of the inflation and amount of money supply in the system is still very large. therefore, you know, one has to look carefully on that front to see the developments. we are cautious and we will see how things develop. >> one more earnings mover. palantir issued weaker guidance despite the beat on the first quarter revenue. the firm saw strong demand for the a.i. products and adding that u.s. commercial sales is
. >> citigroup's jane fraser says this is cis complicating the fe job. >> we have to see services inflationnd we need more data points. it's hard to get a soft landing. we're hopeful. it is always hard to get one. so far, the fed is trying to navigate a complicated system. >> we have ubs ceo telling cnbc this morning that the jury is still out when it comes to rate cuts. >> i thought it was too much of a bullish view on the matter. i mentioned before we are still pricing...
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May 30, 2024
05/24
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. >>> queen's music catalog, from a citigroup music can have implications for sony and sony group sharesrth it? >> i do -- i have no way of knowing, but they're one of the timeless groups. you hear their songs still prakticily every day. >>> thanks for watching "power lunch," everybody. >> "closing bell" starts right now. >>> all right, guys. welcome to closing bell. i'm scott wapner live at post 9 at the new york stock exchange with inflation-eve and tomorrow's pce, and the market on edge ahead of it and we'll ask expert bhs what it means an with 60 minutes to go in regulation, we are red today across the board and it is the dow that is the biggest loser and it's a salesforce problem, suffering its worst day in years after it turned. take a look at that, down more than 20% and other cloud software names lik
. >>> queen's music catalog, from a citigroup music can have implications for sony and sony group sharesrth it? >> i do -- i have no way of knowing, but they're one of the timeless groups. you hear their songs still prakticily every day. >>> thanks for watching "power lunch," everybody. >> "closing bell" starts right now. >>> all right, guys. welcome to closing bell. i'm scott wapner live at post 9 at the new york stock exchange with...
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May 6, 2024
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. >> i will be joined by citigroup's jane fraser, and we will see you there. >>> let's get to the judge and the half. >>> welcome to the "halftime report." i am scott wapner. the question raised again, do the bulls have the upper hand. let's check the markets. s&p coming off its best day since late january, and we are extending the gains today. if you talk about what the catalysts are for the next leg of the rally, we ask the question whether the bulls have the upper hand once again. we know powell was not as hawkish as feared and yields calmed down, right, the bond market volatility dissipated for the moment and earnings are enough. is all that good enough -- >> well, the quantitative tightening provides a nice liquidity backdrop to a rally. i think it can continue for a little bit. i think that short-run focus, though, i think the momentum is here with us for now. the intermediate term, what you want to focus on is gdp revisions and can they continue to head higher? can earnings deliver in the back half of the year? if i think those two things prove to be true, we could see more upsid
. >> i will be joined by citigroup's jane fraser, and we will see you there. >>> let's get to the judge and the half. >>> welcome to the "halftime report." i am scott wapner. the question raised again, do the bulls have the upper hand. let's check the markets. s&p coming off its best day since late january, and we are extending the gains today. if you talk about what the catalysts are for the next leg of the rally, we ask the question whether the bulls have...
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May 27, 2024
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citigroup is just one bank that is actually saying we are going to move some of our staff to kuala lumpuro saturday schedule to accommodate some of this long-term shift. eventually, the hope is everyone will be on the same page but this is also staggered by country. canada, for example, getting onto this in the 28th. you have the likes of the u.k. who may not get onto this until 2027. joumanna: one thing that i am thinking about is that it also may catalyze an increased amount of automation in the space as well to mitigate the amount of human capital that is needed to make that shift. what are markets participants saying about -- market participants saying about the impact it will have? kriti: they are saying this may not be the game changer given automation has been a long trend but the added component to this is also the fx piece as well. this is not just an equity market story. the fact that you have not only the additional step of settling the trades but the fact that you have an additional step for international investors, making sure you have that dollar, it creates a very long kind
citigroup is just one bank that is actually saying we are going to move some of our staff to kuala lumpuro saturday schedule to accommodate some of this long-term shift. eventually, the hope is everyone will be on the same page but this is also staggered by country. canada, for example, getting onto this in the 28th. you have the likes of the u.k. who may not get onto this until 2027. joumanna: one thing that i am thinking about is that it also may catalyze an increased amount of automation in...
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. >> i cannot explain this it is surging after citigroup downgraded them and cut the price target and 8 - for so the ceo is out and city said no visibility into the growth outlook for peloton and they are awaiting details of the direction company but the stock is surging. go figure, fresh pet shares are at a high first-quarter profit stocks up nine and a quarter% they have loyalty and lowered the justice cost which are benefiting them. >> now this columbia university canceling its graduation ceremony because of the into israel protest on campus, madison alworth joins me from columbia what did the university say about this and what about the parents. >> that is a great question, what the university said they are canceling the university wide graduation ceremony and focusing on the smaller class ceremony. this was announced around 8:40 a.m. eastern and in the announcement they said we decided to make the centerpiece of our commencement activities our class days and school level ceremonies were students are honored individually alongside their peers rather than the university wide ceremo
. >> i cannot explain this it is surging after citigroup downgraded them and cut the price target and 8 - for so the ceo is out and city said no visibility into the growth outlook for peloton and they are awaiting details of the direction company but the stock is surging. go figure, fresh pet shares are at a high first-quarter profit stocks up nine and a quarter% they have loyalty and lowered the justice cost which are benefiting them. >> now this columbia university canceling its...
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May 7, 2024
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some top corporate headlines, citigroup shifted the work hours of some staff in kuala lumpur to alignith those in the u.s. the move is part of efforts to assure a smooth transition to one-day settlement cycle. citi also created a task force that will solely process -- focus on the process known as t plus one. it joins other financial institutions preparing for the shift. nomura is targeting 20% revenue gains were as global markets unit over the next two years. they expect 25% to 30% growth in credit products and inequities, with the rest coming from wealth management. the business has returned to profit after three years of losses that included a $3 billion hit for a scandal. take a look at trading in anz. the lender seeing a downside of over 1.5%, announcing a 2 billion australian dollars buyback after first-half earnings missed estimates. the ceo told us where they are seeing pockets of strength in their businesses. >> we came off a record 2023. and what really delivered here, revenue was flat at a really strong level for expenses well managed. and i think it really shone through th
some top corporate headlines, citigroup shifted the work hours of some staff in kuala lumpur to alignith those in the u.s. the move is part of efforts to assure a smooth transition to one-day settlement cycle. citi also created a task force that will solely process -- focus on the process known as t plus one. it joins other financial institutions preparing for the shift. nomura is targeting 20% revenue gains were as global markets unit over the next two years. they expect 25% to 30% growth in...
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May 29, 2024
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because we know the geographies of citigroup within asia are being changed somewhat with new leadershiphat is happening on the internal front? sue: thank you for the question. i know we have been in the press quite a bit around this. it is more of a simplification rather than restructuring. strategy is unchanged. we are a global bank with presence in over 90 countries. it has really been a simplification of our five core businesses with markets right at the center of it. it allows us to work closer with our core business partners. that is banking, wealth services, markets, and u.s. personal banking. as we have said earlier in the quarter, we are done with the changes to our organization and we are excited for the future. i think this event also is a great opportunity for citi to reinforce that we are well-positioned to support our clients. annabelle: does the restructuring mean that further job cuts are on the way? sue: no. as mentioned, changes to organizations may be done. i cannot say that there are no further cuts because there are bau ongoing changes to our organization. but the ma
because we know the geographies of citigroup within asia are being changed somewhat with new leadershiphat is happening on the internal front? sue: thank you for the question. i know we have been in the press quite a bit around this. it is more of a simplification rather than restructuring. strategy is unchanged. we are a global bank with presence in over 90 countries. it has really been a simplification of our five core businesses with markets right at the center of it. it allows us to work...
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May 10, 2024
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this will help ocbc to keep up with the likes of dps and uob which have been working to integrate citigroup'sinesses, their units in asia. and bloomberg analysts also believe that ocbc does still have a pretty strong capital position amid all this. among the three lenders, it is seen as the one with the greatest capital strength. if you look at its core tier one buffers, it is biggest. so this is the move, i think, in the right direction for ocbc. it is an earnings created for it. haidi: it's been a pretty strong season overall for the singaporean foreign lenders. avril: indeed. we have gotten a couple of earnings beats already from the likes of dbs, so ocbc is in essence joining the club. the q1 numbers for the second-largest lender in singapore is ocbc, we were expecting one point $8 billion singapore dollars. it came in at 1.8. a 5% jump from last year's print. this is fueled by the wealth and trading fees. we saw lending revenues well supported. there were concerns coming into this scorecard that we would see net narrowing. it came in at 2.27%. there was a narrow way from the previous qua
this will help ocbc to keep up with the likes of dps and uob which have been working to integrate citigroup'sinesses, their units in asia. and bloomberg analysts also believe that ocbc does still have a pretty strong capital position amid all this. among the three lenders, it is seen as the one with the greatest capital strength. if you look at its core tier one buffers, it is biggest. so this is the move, i think, in the right direction for ocbc. it is an earnings created for it. haidi: it's...
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May 21, 2024
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citigroup analysts say they find it hard to find of durable pathway to re-accelerating growth.nt that picture. kelly: we talked about this a lot on the call yesterday. we said we expect growth in the second have to start to reaccelerating. we announced yesterday that we have over 90 customers and our contact center that are contributing more than $100,000 of trailing 12 month revenue which highlights these are sophisticated buyers. our products are now competing with the top four in the quadrant that you probably know all the names of. that combined with the strength with zoom phone, work vivo, where meta is discontinuing its workplace and we have been named the preferred partner for that transition which opens up a whole new opportunity for us. those are all the components that will lead to re-acceleration in the back half of the year and into 2025. -- 2026. caroline: microsoft teams is a strong competitor. we understand that has been some regulatory conversations coming from zoom about unfair competition. how is that going? kelly: there's a lot going on in the eu. they unbund
citigroup analysts say they find it hard to find of durable pathway to re-accelerating growth.nt that picture. kelly: we talked about this a lot on the call yesterday. we said we expect growth in the second have to start to reaccelerating. we announced yesterday that we have over 90 customers and our contact center that are contributing more than $100,000 of trailing 12 month revenue which highlights these are sophisticated buyers. our products are now competing with the top four in the...
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May 20, 2024
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were not large enough to absorb that you would not be as competitive compared to say a jp morgan or citigroup>> you advise clients on multibillion dollar deals so you get the inside track on a lot of their views. do you think the fed will be able to cut rates this year. does it make sense to you with inflation still at 3.5 percent be able to take it down? >> i think everyone was optimistic there would be three or four cuts at the beginning of the year. that's now looking completely off the table and we are looking at one or zero. and my feeling is sort of in line with that. i would not be surprised if there was no cut this year. >> in company cases in individual cases when you look at the big picture federal deficit does it make sense you would be able to hold rates this high and certainly make servicing pretty expensive. >> at some point our status as the reserve currency of the world will run out in terms of the ability to use that privilege. that will be the breaking point when the servicing of the federal government debt gets so high that it crowds out other competitors. we are not seeing
were not large enough to absorb that you would not be as competitive compared to say a jp morgan or citigroup>> you advise clients on multibillion dollar deals so you get the inside track on a lot of their views. do you think the fed will be able to cut rates this year. does it make sense to you with inflation still at 3.5 percent be able to take it down? >> i think everyone was optimistic there would be three or four cuts at the beginning of the year. that's now looking completely...
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May 1, 2024
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sonali: that's the citigroup head of investment banking.ere we are seeing one of the biggest ipos of the year, we have the deal market running hot before the fed meeting later today. coming up next, the ceo of norwegian cruise lines on a record quarter bookings in the travel boom that still going in 2024. that's up next. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh ♪ ♪ >> we feel really bullish about the demand we are seeing from our customers and the sustainability of that demand. you seen experiences outpace spend on stuff. that rate has increased twofold coming out of covid. sonali: that was the royal caribbean ceo on the boom and demand for cruises. no reason cruise line shares are struggling today but that is despite record bookings in the first quarter. investor expectations are skyhigh following that strong report. we will bring in the ceo to talk about what's going on in his business. if
sonali: that's the citigroup head of investment banking.ere we are seeing one of the biggest ipos of the year, we have the deal market running hot before the fed meeting later today. coming up next, the ceo of norwegian cruise lines on a record quarter bookings in the travel boom that still going in 2024. that's up next. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns....
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May 30, 2024
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citigroup looking for 100 total basis points in cuts this year. jpmorgan looking for 75.itsubishi, 125 basis points. again they all see july as the first rate cut happening. they're cutting it close. meanwhile my first guest says investors can only hope the fed keeps stirring the monetary uncertainty. want to bring in former wall street chief investment strategist jim paulsen. i don't like the title they put in the prompter. i have to go over that next time, jim. you're always a chief investment strategist, my man. >> i appreciate it, charles. charles: let me put up something here from paulsen's perspectives. so investors can only hope the fed keeping monetary uncertainty. what exactly does that mean? >> well i recently noticed there is a monetary policy uncertainty index that's calculated monthly going back to 1985, charles, and what i found when i looked at that, is when that thing is really elevated the average is let's say 100 on the index a little less than that, when it is above average, about 35% of the time over the whole period the stock market has done like 19%
citigroup looking for 100 total basis points in cuts this year. jpmorgan looking for 75.itsubishi, 125 basis points. again they all see july as the first rate cut happening. they're cutting it close. meanwhile my first guest says investors can only hope the fed keeps stirring the monetary uncertainty. want to bring in former wall street chief investment strategist jim paulsen. i don't like the title they put in the prompter. i have to go over that next time, jim. you're always a chief...
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May 14, 2024
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all these other things, these citigroups, these wynns, general motors, will be doing fine. sitting in cash, you know, i have things that i can do with that cash if i feellike my tune on the economy changes. >> josh, i'm going to get to you in just a second but i have some news i have to get to with steve kovach regarding oracle. what have we learned? >> reporter: this is shares up 3.5% or so or a little over 3% after an information report citing one single source, that ex-a.i. is closing in on a $10 billion deal to host a.i. activity on oracle's cloud servers. this would be over a course of a number of years. by the way, x a.i. is probably trying to raise billions of dollars and give massive amounts of equity to backers as part of that big fundraise. as we know it takes an enormous amount of cash to run these a.i. systems, but it sounds like at least, according to the information citing one single source here, that it would be a $10 billion deal to run x a.i. >> thank you very much. sarat, you have oracle, don't you? >> my reason for owning oracle was the ability for the cl
all these other things, these citigroups, these wynns, general motors, will be doing fine. sitting in cash, you know, i have things that i can do with that cash if i feellike my tune on the economy changes. >> josh, i'm going to get to you in just a second but i have some news i have to get to with steve kovach regarding oracle. what have we learned? >> reporter: this is shares up 3.5% or so or a little over 3% after an information report citing one single source, that ex-a.i. is...
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May 13, 2024
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citigroup economic surprise index. it has come down a lot here. we know that helps the stock market. where are we right now? should we be rooting for bad economic news? should we be rooting for good economic news because part of the narrative as the street started to believe there would be fewer rate cuts, it doesn't matter as long as the economy is strange. what scenario is best for a rally a sustainable rally? >> this is the much of the scenario we have unfolding, the first-quarter earnings season turned out to be really quite a good one. we've seen upward revisions in expectations for the quarter. i think the guidance has been relatively good on balance. we have seen that analysts are slightly raising their expectations for the rest of the year. and, at the same time, some of that weaker than expected set of economic indicators is up to bringing the stablize the bond yield which is also a good development for the stock market. so right now, good and bad news seems stock -- to be good news for the stock market. >> you wrote over the weekend upwa
citigroup economic surprise index. it has come down a lot here. we know that helps the stock market. where are we right now? should we be rooting for bad economic news? should we be rooting for good economic news because part of the narrative as the street started to believe there would be fewer rate cuts, it doesn't matter as long as the economy is strange. what scenario is best for a rally a sustainable rally? >> this is the much of the scenario we have unfolding, the first-quarter...
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. >> actually citigroup's ceo jane phrase said we're looking at a k-shaped consumer where the affluentend spending, but lower income consumers have is pulled back -- maria: exactly. >> but when you look at the weak guidance coming out of airbnb or the airline, it makes me wonder if maybe the high higher income consumer is starting to pulmoback as a well. i'd love to get your take on that. >> i don't think we see it just yet, but you would think we we would pull back on all a fronts. mcdonald's is a great example where they're lowering, we saw, you know, them worry about what's going on on the low end but shake shack had a great quarter. >> yeah. >> so it hasn't really taken full effect. but inflationary concerns are causing the consumer to pull back. it's happening gradually, and we're seeing it in some of those smaller stocks, smaller income-related stocks. let's watch walmart next week. maria: that's a biggie, and then the week after a nvidia. >> that's the super bowl. maria: i'm wondering if, in fact, we haven't even felt the true impact of 11 rate hikes. what do you think, monica?
. >> actually citigroup's ceo jane phrase said we're looking at a k-shaped consumer where the affluentend spending, but lower income consumers have is pulled back -- maria: exactly. >> but when you look at the weak guidance coming out of airbnb or the airline, it makes me wonder if maybe the high higher income consumer is starting to pulmoback as a well. i'd love to get your take on that. >> i don't think we see it just yet, but you would think we we would pull back on all a...
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largest in history, the size of their buyback is almost the size of the entire market valuation of citigroup's. it's an indication of the fact that the company is over the hill. look or, apple's not cheap. it's trading at 26 times earnings. that's more expensive than anytime from 2010-2020. why aren't they using that money to invest inning, oh, i don't know, new innovations? buy new company, create new technologies? to me, stuart, again, wonderful company, but with the fact they're using all this money to basically buy back their own tock says, in effect, they've run out of ideas. and the stock even before today was down year to date. it isn't where it's at. let apple buy back their own stock, i think there's better places for people to put their money. stuart: it's friday, you're jonathan hoenig, you always bring us an exotic investment, and i want to know what this week's is. >> from 2002-2012, stuart, international stocks, emerging market stocks outperformed u.s. so once again that's where i'm looking. and, in fact, are very quietly this week a lot of these indices hit new 52-week highs. ex
largest in history, the size of their buyback is almost the size of the entire market valuation of citigroup's. it's an indication of the fact that the company is over the hill. look or, apple's not cheap. it's trading at 26 times earnings. that's more expensive than anytime from 2010-2020. why aren't they using that money to invest inning, oh, i don't know, new innovations? buy new company, create new technologies? to me, stuart, again, wonderful company, but with the fact they're using all...
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here is where we are with the citigroup economic index.s is happening, hard data was coming down anyway. look at the plunge we've had in soft data. all parts of this have come down dramatically. let's bring in ned davis research chief strategist ed clissold. ed, i want to begin with earnings, the earnings season has been fantastic. first of all i love your work right, ned davis work. you have your earnings season here, you can see the chart well above the mean. exceptionally well, elevated earnings is the title of the chart but, the revenue misses and the guidance, i mean even the slightest weakness in any of those and they're taking these stocks out to the woodshed. why is that? >> well i think we look at it from the prism you of being a five-month rally, starting in november that was one of the strongest that we've ever seen. so stocks had already run up on expectations that earnings would come through. so if you do come through everything is fine. if you don't, they were investors ask a lot of questions whether or not the valuations are
here is where we are with the citigroup economic index.s is happening, hard data was coming down anyway. look at the plunge we've had in soft data. all parts of this have come down dramatically. let's bring in ned davis research chief strategist ed clissold. ed, i want to begin with earnings, the earnings season has been fantastic. first of all i love your work right, ned davis work. you have your earnings season here, you can see the chart well above the mean. exceptionally well, elevated...
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May 30, 2024
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. >> jane phraser of citigroup said we're seeing a k-shaped consumer.he john ledge p -- legends of d think the economy is fine, they don't know what inflation is. these retailers do understand what inflation is. consumers are obviously seeing that. and you look at cost he costco. that will be important to take a look at today. costco is the anti-inflation play when you think about it from a more essentials standpoint as opposed to discretionary purchases. maria: you buy in bulk and it saves money. part of this is interest rates, kathy, right? look where the mortgage rate is. that's cut into people's ability to buy a home, take out a mortgage, 10 of year treasury yield this morning looks like this as the federal reserve's beige book survey finds the economy growing at a, quote, modest pace. the yield of the 10 year is down 1 and-a-half basis points. we're wait on the second read of first quarter gdp at a 8:30 this morning. economists are expecting the economy to grow 1.3%. then we'll get the pce index for the month of p april out tomorrow morning, that's
. >> jane phraser of citigroup said we're seeing a k-shaped consumer.he john ledge p -- legends of d think the economy is fine, they don't know what inflation is. these retailers do understand what inflation is. consumers are obviously seeing that. and you look at cost he costco. that will be important to take a look at today. costco is the anti-inflation play when you think about it from a more essentials standpoint as opposed to discretionary purchases. maria: you buy in bulk and it...
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May 21, 2024
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bank of america and citigroup at their best level since 2022.e afterhours action in urban outfitters. >>> lululemon losing its grip today, sliding to more than a 52-week high. the brand has dropped 37% year to date, and shares down another 2.5% afterhours. this after the company said its chief product officer has resigned, and will leave the company later this month. our next guest says the company could crash as soon as next year. let's bring in jeffries randy connick. that dund sound good. >> thanks, guys. >> when the chief product officer quits. what do you make of that news? >> look, it's clearly -- it's clear that the company's running into product problems, and it's clear that the company's running into competition issues, so, this company, it's super simple. it has four issues, it has a category that's slowing. it has a competition that is rising, it has fashion shifts that are not going towards the company from a fashion perspective. moving from skinny bottoms to wide leg bottoms. and then, finally, you have the law of large numbers. thi
bank of america and citigroup at their best level since 2022.e afterhours action in urban outfitters. >>> lululemon losing its grip today, sliding to more than a 52-week high. the brand has dropped 37% year to date, and shares down another 2.5% afterhours. this after the company said its chief product officer has resigned, and will leave the company later this month. our next guest says the company could crash as soon as next year. let's bring in jeffries randy connick. that dund sound...
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May 24, 2024
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as the deposition nation for regional -- destination to ensure that companies like amazon, apple, citigroup, coca-cola -- i had an opportunity to witness the investment by coca-cola of another $175 million in our countries. dell, del monte, general electric, i.b.m. microsoft, oracle, synergy. do i continue? all of these -- [applause] pres. ruto: and i have not mentioned them in orders of any priority. these are all of our companies and we have fantastic relationships with them. we want all of them to guarantee maximum investments by working in kenya, working in kenya and working with kenya. and the entire government it make kenya the best place it to do business globally has grown fruit. it is ranked the third most attractive place to do business in africa by the world bank. i appreciate that. [applause] pres. ruto: i appreciate the american chamber of commerce and kenya leadership and u.s. a.m. bossor to kenya, mega -- meg whitman. meg whitman is a godsend and she is done sometimes single handedly with her team in nairobi what orders narrowly would be in the realm of miracles. her leadersh
as the deposition nation for regional -- destination to ensure that companies like amazon, apple, citigroup, coca-cola -- i had an opportunity to witness the investment by coca-cola of another $175 million in our countries. dell, del monte, general electric, i.b.m. microsoft, oracle, synergy. do i continue? all of these -- [applause] pres. ruto: and i have not mentioned them in orders of any priority. these are all of our companies and we have fantastic relationships with them. we want all of...
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May 6, 2024
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have, you know, we continue to raise expectations around earnings growth, and we do have, you know, citigroupentially came up today, said, the bottom half of the consumer is starting to struggle. and we have persistent inflation, and all the global issues, you know, put aside, i really do think that the deglobalization puts upward inflationary pressure, period. and i don't think that's going away any time soon and i think that's being massively underestimated. i think 5500 likely does not happen. >>> boeing shares falling after the faa announced it would launch a new investigation into their 787 dreamliner. this one is around employees potentially falsifying records around inspections. phil lebeau has all the details. phil? >> melissa, this played out over the last several weeks. once this report came out in the middle of the afternoon, we were able to piece together exactly what has happened and what the faa is looking into. yes, it does involve the 787 dream liner, and the question of whether or not employees have falsified records. boeing was alerted by an employee last month, late least m
have, you know, we continue to raise expectations around earnings growth, and we do have, you know, citigroupentially came up today, said, the bottom half of the consumer is starting to struggle. and we have persistent inflation, and all the global issues, you know, put aside, i really do think that the deglobalization puts upward inflationary pressure, period. and i don't think that's going away any time soon and i think that's being massively underestimated. i think 5500 likely does not...
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May 8, 2024
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the lower end consumer is going to have a very hard time and we actually heard jane frazier from citigroupbout that earlier this week. i completely agree that this is going to hit the lower end consumer but tapestry services, higher end consumer. their modest single-digit expectations for growth are reasonable. they can weather the storm a little better. >> a 6% year-to-date gain. we got the tale of two travelers today. strong luxury demand did help to record revenues while choice hotels in that mid segment posted weaker than expected revenue and flat growth this year. they reaffirmed that in the meantime, down more than a today. keeping an eye on the summer outlook and sales as well. the hotel earnings. seems to basically coincide with exactly what thing about the consumer. what you do with hyatt? >> the problem with hyatt isn't even a tale of two consumers. it's too highly price. it is valuation is relative to other travel socks right now is too high. if you look at the outlook for travel, we've already gone through the revenge travel segment. experiencing lots of growth and travel. that
the lower end consumer is going to have a very hard time and we actually heard jane frazier from citigroupbout that earlier this week. i completely agree that this is going to hit the lower end consumer but tapestry services, higher end consumer. their modest single-digit expectations for growth are reasonable. they can weather the storm a little better. >> a 6% year-to-date gain. we got the tale of two travelers today. strong luxury demand did help to record revenues while choice hotels...
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May 2, 2024
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. >> karen >> yes, i like citigroup >> dan >> you know, i obviously usually peloton a lot and i use thear downside, maybe like $4. >> it's an option. >> yeah. >> what? >> guy >> you're watching the sixers game, i know msi, check that out, mel >> all right, >>> my mission is simple to make you money. i'm here to level the playing field for all nvestors there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to help you make a little money my job is not just to entertain but to educate and teach you call me, 1-800-743-cnbc. tweet me @jimcramer. i hate rooting against the u.s. economy. but that's what the bulls have to d
. >> karen >> yes, i like citigroup >> dan >> you know, i obviously usually peloton a lot and i use thear downside, maybe like $4. >> it's an option. >> yeah. >> what? >> guy >> you're watching the sixers game, i know msi, check that out, mel >> all right, >>> my mission is simple to make you money. i'm here to level the playing field for all nvestors there's always a bull market somewhere, and i promise to help you find it....
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May 16, 2024
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that's what some paper are calling including citigroup. jonathan: 8:30 a.m. eastern time.ll-time highs at the close wednesday on the s&p 500 and the nasdaq 100 for the first time since march. we are up by zero point 05% on the s&p 500 and yields are unchanged on the bond market. coming up this hour, john hancock investments as the s&p had to new record high in the jp morgan ceo jamie dimon live from paris with francine lacqua and michelle meyer reacting to jobless claims data. we begin with the big issue -- good news is good news. the cpi print sends stocks above 5300 for the first time ever but met miss can says this -- met joins us now for more. walk me through the regime you think we are in. >> we still think we are in a bad news/good news regime and its one that's challenging for asset allocated because treasury bonds are acting like small cap crypto stocks. i did not see this coming. this is relatively new to the cycle. i'm looking at the cfa books in the intelligent investor and other finance books and i was wondering where they were on that. this is a challenging ma
that's what some paper are calling including citigroup. jonathan: 8:30 a.m. eastern time.ll-time highs at the close wednesday on the s&p 500 and the nasdaq 100 for the first time since march. we are up by zero point 05% on the s&p 500 and yields are unchanged on the bond market. coming up this hour, john hancock investments as the s&p had to new record high in the jp morgan ceo jamie dimon live from paris with francine lacqua and michelle meyer reacting to jobless claims data. we...
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May 14, 2024
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. >> i mean, a very snapshot into this is the citigroup economic surprise index which basically sparesng out which surprised on the upside or downside. it's a composite that looks at everything. it has declined 60 points, 6-0 points, in three weeks. of it was up +41, it's now down 18. that is in three weeks' time. so it just underscores what douglas and i have been saying about this on the shift in the data. and i'll give you two crucial examples since we talked about services inflation and this whole that post-covid consumers switched from prioritizing goods consumption to services consumption. if since the beginning of the year, restaurant performance as tracked by the national restaurant association has plunged. it hit the lowest level since covid in january, posted the tiniest little bounce in february and then slumped right back over in march. and then last week we got the latest hotel numbers, rev par in the latest month declined for the first time since february of 2021 is which was when people were reluctant to stay in hotels because of covid. maria: right. >> so these are real
. >> i mean, a very snapshot into this is the citigroup economic surprise index which basically sparesng out which surprised on the upside or downside. it's a composite that looks at everything. it has declined 60 points, 6-0 points, in three weeks. of it was up +41, it's now down 18. that is in three weeks' time. so it just underscores what douglas and i have been saying about this on the shift in the data. and i'll give you two crucial examples since we talked about services inflation...
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May 15, 2024
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david living stone of citigroup. here is your bloomberg brief with dani burger. biggest banks say they will be seeing record profits this year. predict profits over $21 billion taken together. the banks expect earnings to grope thanks to strong loan demand. they also seen earnings boost from the boj shift away from rates. let's get a check on burberry shares in london. trading lower. the company warned of a challenging first half. legal has been trying to engineer a turnaround but those efforts have run first into pulling demand for brands that find themselves in a luxury market. caring has been struggling while more resilient plans like -- more resilient brands like hermes have seen revival. we are down for amc and gamestop. the rally was driven by the return -- it has gotten to the point where even the former bond king has strayed from the world of debt to trade meme stocks. that is your bloomberg brief. jonathan: will catch up with dani in about 30 minutes. coming up, inflation data on deck. >> it pushes cuts back further. rates could get volatile today if we
david living stone of citigroup. here is your bloomberg brief with dani burger. biggest banks say they will be seeing record profits this year. predict profits over $21 billion taken together. the banks expect earnings to grope thanks to strong loan demand. they also seen earnings boost from the boj shift away from rates. let's get a check on burberry shares in london. trading lower. the company warned of a challenging first half. legal has been trying to engineer a turnaround but those efforts...
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May 20, 2024
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coming up next, we will catch up with stuart kaiser of citigroup, atlanta fed president raphael bostic amanda lyman of blackrock. ♪ and using workday to p ut finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models. oh, that's so rock roll. it is, right. he gets it. yeah. a slow network is no network for business. that's why more choose comcast business. and now we're introducing ultimate speed for business, our fastest plans yet. we're up to 12 times faster than verizon, at&t, and t-mobile. and existing customers could even get up to triple the speeds at no additional cost. from the company with 99.9% network reliability and advanced cyber security, it's ultimate speed for ultimate business. and it's all from comcast business. hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this."
coming up next, we will catch up with stuart kaiser of citigroup, atlanta fed president raphael bostic amanda lyman of blackrock. ♪ and using workday to p ut finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models. oh, that's so rock roll. it is, right. he gets it. yeah. a slow network is no...
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May 24, 2024
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it will affect hundreds of employees at citigroup and hsbc. impact thousands of staff. our resident get back to work correspondent, we have to clarify. it is not get back to work, it is get back to the office. i wonder how much some of these executives and banks are thinking that it is convenient that finra tightened the group so we can order everyone back to the office, which is what we've been wanting to do anyway. annmarie: they don't want the mass mutiny before the summer. j.p. morgan and goldman sachs already have the policy we want you back in the office five days a week. i only worked from home a few times during covid because i was ill. i -- it is 2024. i don't even understand why there is this discussion. dani: i think it is a very convenient excuse, to your point, that finra is changing the rules are barclays, the most strict, are trying to cut 2 billion pounds. what better way than to ask employees to get back into the office and have some potential employees say i can't do that, i would rather leave than continue to work in the off
it will affect hundreds of employees at citigroup and hsbc. impact thousands of staff. our resident get back to work correspondent, we have to clarify. it is not get back to work, it is get back to the office. i wonder how much some of these executives and banks are thinking that it is convenient that finra tightened the group so we can order everyone back to the office, which is what we've been wanting to do anyway. annmarie: they don't want the mass mutiny before the summer. j.p. morgan and...
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May 21, 2024
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it claims many customers were charged out of network fees for transactions at its citigroup atms, while's reviewing the complaint while saying it opposes all forms of discrimination. when the ceo of jpmorgan chase says he is getting ready to retire as the head of the america's largest bank, and it may be happening sooner than expected, jamie dimon told investors at an event in new york city. he is moving up his retirement date. damon dimon had stated in the past he hoped to remain in his powerful job for another five years, though he did not say when he plans to retire. he has hinted that it may come in late 2026. >> our time now. 646 a bill here in california to legalize amsterdam style cannabis cafes has passed in the state assembly. right now, the public can consume marijuana products on site in licensed lounges, but right now, dispensaries cannot sell non cannabis related food and drinks. governor newsom vetoed a similar bill last year over concerns that it would undermine california's smoke free workplace protections. now, the author of the bill, state assembly member matt haney, s
it claims many customers were charged out of network fees for transactions at its citigroup atms, while's reviewing the complaint while saying it opposes all forms of discrimination. when the ceo of jpmorgan chase says he is getting ready to retire as the head of the america's largest bank, and it may be happening sooner than expected, jamie dimon told investors at an event in new york city. he is moving up his retirement date. damon dimon had stated in the past he hoped to remain in his...
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May 3, 2024
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we've got an exclusive with jane fraser the ceo of citigroup who has been knee deep in her restructuringe coming up on monday afternoon and ken griffin from citadel. >> all the big investors are there. >> yes. >> we want to hear -- he has not revealed who he is supporting in the election. >> any chance he would support biden? come on. >> doubtful. >> yeah. >> so maybe he's got somebody else in mind other than the other candidate. >> we'll wait until he answers the question next week. that ism prices paid, some of the shine off the data as steve said. dow is hdi otoaiolngn gn of 361. stay with us. ch is less about reaching a magic number... and more about discovering magic. this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo we put our heart into celebrating moms. we are local farmers, bakers, florists and makers who grow and create with a passion. 1-800 flowers. for mom, with love. while i am a paid actor, and this is n
we've got an exclusive with jane fraser the ceo of citigroup who has been knee deep in her restructuringe coming up on monday afternoon and ken griffin from citadel. >> all the big investors are there. >> yes. >> we want to hear -- he has not revealed who he is supporting in the election. >> any chance he would support biden? come on. >> doubtful. >> yeah. >> so maybe he's got somebody else in mind other than the other candidate. >> we'll wait...
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May 7, 2024
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got a good chance to speak with jane fraser yesterday, the ceo of citigroup, about her turnaround andood she said, you know, the restructuring is done and now we move forward and we show result. the layoffs are done and the more ral is good for what she's seeing on the consumer, pretty good visibility into the card business and bank business she called it a k-shaped recovery listen to what she says. >> it's a k-shaped consumer. >> k >> k-shaped. a lot of growth in spending has been in the last few quarters has been with the affluent customer we're seeing a more cautious, low income consumer. they're feeling more of the pressure of the cost of living, which has been high and increased for them while there is employment, debt servicing levels is higher than they were before, so they're being mindful of their spend. >> a warning about the key segment of the consumer space there. we're hoping for a soft landing, but added the caveat as she has, david, it's not always easy to achieve. so we'll see i guess people aren't as optimistic as i would expect i don't know what your conversations ha
got a good chance to speak with jane fraser yesterday, the ceo of citigroup, about her turnaround andood she said, you know, the restructuring is done and now we move forward and we show result. the layoffs are done and the more ral is good for what she's seeing on the consumer, pretty good visibility into the card business and bank business she called it a k-shaped recovery listen to what she says. >> it's a k-shaped consumer. >> k >> k-shaped. a lot of growth in spending has...
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May 2, 2024
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anticipates one rate cut in december and that policy will be gradually returning to neutral level in 2026 citigroupsubstantially more than priced in in the interest rate markets and bank of america just to add in a fourth one, one rate cut in december on the idea that inflation remains stickier nobody knows, including powell, because they don't know when inflation will improve, and that's what's going to be the key, just like it has been the key the last few years for traders. >> all those calls basically went unchanged after the presser. the goldman call certainly the city, i think they're looking at 100 basis points not really giving month by month calls. stagflation where he said i was here for stagflation and basically this isn't it. >> no stag no flation he cites an unemployment rate below 4%. stag, you have a high unemployment rate. he cites inflation that has come down sharply when you have inflation problems you have levels that we were seeing, say, back in the height of this cycle of inflation pce got as high as over 7% it's now below 3%. there has been a lot of progress, and i think powel
anticipates one rate cut in december and that policy will be gradually returning to neutral level in 2026 citigroupsubstantially more than priced in in the interest rate markets and bank of america just to add in a fourth one, one rate cut in december on the idea that inflation remains stickier nobody knows, including powell, because they don't know when inflation will improve, and that's what's going to be the key, just like it has been the key the last few years for traders. >> all...
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May 6, 2024
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haven't heard from her several months as she has been undergoing restructuring and transformation of citigroup'll talk to ken griffin later as well and then a bunch of ceos coming in the next hour of "money movers" and the topic de jour here, what's happening in the economy with inflation. we'll have these sticky numbers and now there's hope that the fed is going to start cutting rates again this year. remember a few weeks ago we weren't so sure. >> no. >> we got the softer jobs report and there's a debate where it's hard to see around the corner whether inflation does continue its progress, about whether the fed will really start cutting this year, about whether we'll see any meaningful downturn. it's a weird cycle. i made a chart of the quit rate. people are saying one jobs report, it was a little bit soft. don't read too much into it. this is the quits. people, it's a signal of confidence that people have that they'll be able to go out and find a new job with higher pay and i highlight it. it has come down to the lowest level since 2020, and it is a sign that labor market is cooling. it doe
haven't heard from her several months as she has been undergoing restructuring and transformation of citigroup'll talk to ken griffin later as well and then a bunch of ceos coming in the next hour of "money movers" and the topic de jour here, what's happening in the economy with inflation. we'll have these sticky numbers and now there's hope that the fed is going to start cutting rates again this year. remember a few weeks ago we weren't so sure. >> no. >> we got the...
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May 21, 2024
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about 1.5% off the pre-market highs, over 30,000 shares of volumes, due in part to the team over at citigroupch on the p apparel and retailer, also old navy, and@letta stores. they think that gap will announce a big earnings beat when it announces on may 30th. a week later, not this week, but next, driven by things like better comp store sales growth at old navy, also, better overall profit margins. that store is buy rated. those shares are on the move. a couple of casino gaming stocks also moving higher. thanks to analysts at raymond james. and among them, cesar's gets a strong buy and a $55 price target. it's their top pick in the industry, given lower trajectories. they think that the sell-off there this year is overdone, and that all the negative of the news has already priced into those shares. cesar's up 1.5%. same with penn entertainment. for more on those calls, other top analyst calls of the day, head over to cnbc.com/pro, subscribers can get more detail and analysis over there. zoom video, those shares are down roughly 2.5 to 3%. video conferences, reporting better than expected pro
about 1.5% off the pre-market highs, over 30,000 shares of volumes, due in part to the team over at citigroupch on the p apparel and retailer, also old navy, and@letta stores. they think that gap will announce a big earnings beat when it announces on may 30th. a week later, not this week, but next, driven by things like better comp store sales growth at old navy, also, better overall profit margins. that store is buy rated. those shares are on the move. a couple of casino gaming stocks also...
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May 7, 2024
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we have heard this from citigroup and a list of people. do you adhere to that idea?: i do not think that is the way economies work, i think it is the way markets work. if you like the battle this year for narratives. that is a nice way of describing it. those who look at previous cycles, which is one of those fast-moving consumer goods, i think it was pringles, when you pop you cannot stop. if you are the federal reserve once you start cutting rates can you stop? everyone is talking about a very gradual easing cycle, if you look back at previous episodes you say that is not revealed behavior. once you start the exercise you have to keep going. that is one of the reasons why we have had this tug-of-war between a narrative that takes historic revealed behavior versus those looking at the real time indicator and saying it does not justify an easing cycle from the fed or any major central banks. jonathan: central banks -- lisa: central banks in a rebranding effort. maybe we should go to the pringles people. you can pop and then let it get stale. how much are we seeing th
we have heard this from citigroup and a list of people. do you adhere to that idea?: i do not think that is the way economies work, i think it is the way markets work. if you like the battle this year for narratives. that is a nice way of describing it. those who look at previous cycles, which is one of those fast-moving consumer goods, i think it was pringles, when you pop you cannot stop. if you are the federal reserve once you start cutting rates can you stop? everyone is talking about a...
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May 2, 2024
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you mentioned citigroup. they still see 100 points of cuts this year. raising the question to your point, jim reed, was it less hawkish than it could have been in terms of not necessarily pushing back? or was it a dovish position with an excuse to cut? jonathan: dovish action at the peak of the news conference, it fades going into the close and we are down by 2/10 of 1%. not just the equity market, the foreign exchange as well, the time was 4 a.m. in tokyo and suddenly dollar-yen is aggressively lower off the back of what we now believe is more intervention. lisa: 22 point $6 billion where they try to take advantage of a window where they saw a reprieve on the u.s. side where they thought they could come in. what does it look like? staving off currency weakness? they didn't succeed. if it's about blowing the shorts around how far you can push against japanese authorities, they might have won. jonathan: coming up this hour, fantastic conversations with oppenheimer as jay powell six to a dovish script. apple earnings on deck. those earnings are coming lat
you mentioned citigroup. they still see 100 points of cuts this year. raising the question to your point, jim reed, was it less hawkish than it could have been in terms of not necessarily pushing back? or was it a dovish position with an excuse to cut? jonathan: dovish action at the peak of the news conference, it fades going into the close and we are down by 2/10 of 1%. not just the equity market, the foreign exchange as well, the time was 4 a.m. in tokyo and suddenly dollar-yen is...
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May 15, 2024
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citigroup and bank of america hit two-year highs.e'll be right back nancy pelosi this cnbc program is sponsored by baird. visit bairdifference.com. energy fuels, a leading american uranium producer, is ramping up production to supply expanding nuclear markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. energy fuels. >>> welcome back to "squawk box." je jensen huang's pay rises to $34.2 million. among the increases, stock awarded at about $7 million. that's more then the prior year and a $4 million cash bonus. he's also going to receive 2.5 million in other costs including residential security and consulting fees, but that's kind of pocket change compared to the stock he owes. >> he got it in stoxx performance. >> so the stock is higher than 32 million. yes. if you talk about relative industries that are highly paid. >> right. and as we point out, if you've got a lefty that's got a fastball and a slider and a -- you know, 24 years old, they're worth more than $32 million a
citigroup and bank of america hit two-year highs.e'll be right back nancy pelosi this cnbc program is sponsored by baird. visit bairdifference.com. energy fuels, a leading american uranium producer, is ramping up production to supply expanding nuclear markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. energy fuels. >>> welcome back to "squawk box." je jensen huang's pay rises to $34.2 million. among the increases,...
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May 16, 2024
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viking and corevex paired back kkr and michael burry bought citi citigroup.the 20 high-profile fund managers we tracked, we saw the biggest inn inflati influx of capital into the quarter. that was drive n by the chubb purchase. it certainly is good times for the financials, guys. >> are you surprised there is so much interest in the financials? >> reporter: a little surprise, although, a lot of this is part of the catch-up trade last year. most people were expecting recession which would be bad for the publicly traded financials out there. now there is a notion and narrative we achieved a soft landing and people are starting to feel more comfortable buying banks and firms that dabble in private equity because the macro picture has shifted so much and the regulatory picture shifted with the capital roles changing. that bodes well for investors on the sidelines and now, as we see from the filings, coming ack. >> if you piggyback the trades, are you always late? by default, you are late. >> reporter: these are as of the end of march. these are six weeks delayed.
viking and corevex paired back kkr and michael burry bought citi citigroup.the 20 high-profile fund managers we tracked, we saw the biggest inn inflati influx of capital into the quarter. that was drive n by the chubb purchase. it certainly is good times for the financials, guys. >> are you surprised there is so much interest in the financials? >> reporter: a little surprise, although, a lot of this is part of the catch-up trade last year. most people were expecting recession which...