citigroup is rolling back its diversity, equity and inclusion policies, citing pressure from the bankational representation and that's according to a memo to staff from management and engagement. on his first day in office, donald trump banned dei citigroup facilitates much of the us and internationally, making it a majorfederal and legal pressures. large companies like walmart, target and mcdonald's have already retracted their diversity programs, as well as tech giants like meta, amazon and google. companies to curtail their dei efforts via executive order, he can amp up the partisan political pressure. and some companies have cited those political shifts when scrapping dei programs. that the company is "responsive to local markets". walmart shares have fallen by around 6 percent and profits in the coming year. time because ot high interest rates, persistent inflation and potential tariffs on imports into the us. as resilient and focused on value going forward. on monday. that the money offer — has quote "no strings atached" germany will head to the polls this weekend of voters' min

citigroup is reportedly rolling back its diversity, the trump administration.nal representation the bank will also remove requirements to interviewjob candidates from diverse backgrounds. and that's according to a memo to staff from and inclusion and talent management team to talent management and engagement. on his first day in office, donald trump banned dei programmes across the federal level and called on government agencies to investigate companies diversity policies. citigroup facilitates much of the us government's payment network domestically and internationally, making it a majorfederal and it'sjoining a slew of american firms cutting back on diversity initiatives in the wake of political and legal pressures. large companies like walmart, target and mcdonald's while the president can't actually compel private and some companies have cited those political shifts when scrapping dei programs. pepsico has also joined this growing list after the retail giant forecasted slower sales and profits in the coming year. time because ot high interest rates, persist

citigroup is the latest us company to scale back workforce.has intensified a backlash against diversity, equity goals put in place only a few years ago. citigroup is reportedly rolling back its diversity, equity and inclusion policies, citing pressure from the trump administration. the bank will no longer have aspirational representation goals, except those required by local law. the bank will also remove requirements to interviewjob candidates from diverse backgrounds. and that's according to a memo to staff from the ceo, jane fraser. the bank will rename its diversity, equity and inclusion and talent management team to talent agencies to investigate companies�* diversity policies. making it a majorfederal contractor vulnerable and legal pressures. on his first day in office, donald trump banned dei programmes across the federal level, and called on government agencies to investigate companies�* diversity policies. citigroup facilitates much of the us government's payment network domestically and internationally, making it a majorfederal cont

the bank will rename its diversity, equity on his first day in office, donald trump banned dei citigroupwork domestically and internationally, and legal pressures. have already retracted their diversity programs, their diversity programmes, as well as tech giants like meta, amazon and google. companies to curtail their dei efforts via executive order, he can amp up the partisan political pressure. and some companies have cited those political shifts when scrapping dei programs. the maker of lays and 7—up will end workforce representation chief executive ramon laguarta said the move is to ensure that the company is "responsive to local markets". walmart shares have fallen by around 6% — the boss of the retail giant said it was an uncertain time as resilient and focused on value going forward. on board a plane that crash—landed delta's spokesperson said that the money offer has "no strings attached". of immigration continues to be at the top of voters' minds. start—up association. but also marketinglsalesl, , so germany is dependent on immigration and that to the world that we are saying w

citigroup is reportedly rolling back its diversity, equity and inclusion policies, citing pressure from will no longer have aspirational representation candidates from diverse backgrounds. the ceo, jane fraser. the bank will rename its diversity, equity to the administration's scrutiny. large companies like walmart, target and mcdonald's have already retracted their diversity programmes, while the president can't actually compel private and some companies have cited those political shifts when scrapping dei programs. of the "big four" such events to adopt a sustainability policy. talent incubation programme have to describe how their collections fit in with minimum sustainability standards. a ban has also been introduced on wild animal skins and furs. london. earlier i asked him how important sustainablillty was to his practice. sustainability and fashion are really critical topics. the industry has the potential to be very impactful, in fashion is now it more sustainable. with sustainability as part of their training, whether it is through work with sustainable materials understanding

what's your pick today and why. >> yeah citibank citigroup.>> the stock. >> has been on a. >> tremendous run under jane frazier's leadership. they've made some cost cutting measures and restructured. >> i know there was some negative news in the financials. >> that affected them yesterday. >> going back. >> to biden era m&a activity red. >> tape. >> we'll see. you know, over the short term that could be a. >> stumbling block. but citibank has continued to just do. >> extremely well under her leadership. technically, it's breaking out of a nice four year base above 7880. i love this stock. >> it looks like it's poised. >> to run into. >> the 90s, possibly. >> 100, by the end of the year. >> any concerns about the fed cooler? the latest official to say let's keep rates on hold for some time. >> no, i think this higher. >> for. >> longer narrative has been. digested by the banks. as we were raising rates, they continued. >> to thrive. >> i think this. >> stable environment. >> will do well. >> for them. >> all right. jay woods, your pick for us t

citigroup is reportedly rolling back its diversity, equity the trump administration.like walmart, target and mcdonald's have already retracted their diversity programmes, while the president can't actually compel private he can amp up the partisan political pressure. and some companies have cited those political shifts when scrapping dei programs. talent incubation programme have to describe how their a ban has also been introduced on wild animal skins and furs. of the arts london. i understand you have a shell yourself up. a shell yourself coming up. does feature in does sustainability feature in what you are putting onto the fsustainabilityfand all? does. sustainability and fashion are really the ilelllstr? has topics. the industry has the topics. the industry has the to be very impactful potential to be very impactful but also a lot of the most in fashion is innovative work in fashion is now being done in response to ff challangeff f challefane to make it more the challenge to make it more sustainable. all of our students at london college fffffengage engagewith fa

andrew hallman horse of citigroup was on bloomberg earlier today, and here is what he said about why the market is shrugging off the ppi number coming despite it coming in higher than estimates. andrew: you can look at different metrics on inflation. when you dig into the details, the fact that shelter inflation is slowing down, that will give officials confidence that we are getting some slowing. part of the reason the market is reluctant to react is you have to look at these detailed categories and look at the pce meeting. scarlet: joining us now with her take on the inflation data and what it means for the fed and rates is kelsey barrow, a fixed income manager at j.p. morgan asset management. good to see you. let's talk about this week' is inflation data. cpi surprised to the upside. there were some sharp revisions as well from the previous one. with the exception of the core ppi month over month for january. get the bond market not too worried about it right now. andrew hallman horse talked a little bit about the components. walk us through the market's thinking. kelce: this is a

. >> they started off with the big banks and names like goldman and wells fargo in citigroup just actedm always looking for companies that acted well on the copy numbers, starbucks reports a 22% drop in earnings, 0% sales growth, drop 4% in comps and the stocks skyrocket. it tells me about the market and notwithstanding what happened with tariffs today which had me hiding in my closet and that's when good news when bad news is brought up in good news is really brought upon earnings it tells you a little bit about the market. >> it seems like meta there were a lot of names that reported all over the place particularly after hours trading but the big winner seems to be meta we have the chart let's trading and bouncing off the 50 day it took off like a rocket we've talked about this are you buying or looking at it? >> were going to buy it, we haven't yet we probably should've took a stab at it this morning we love when big names react well another one that netflix with a gigantic move in subs and so much ahead of expectation and the move i'm a big number guy if netflix can break above the

citigroup up to 50 from 48. stifel up to 50 from 47. wells fargo goes up to 46 from 44.ks and you're buying in now, you're going to be making money. >> there's some good upside. david: all right. more earnings reports, ap love aren? >> this stock was up 700% last year. david: unbelievable, but look at this, a 35% pop. >> up 35% today. this is, i mean, you tell me, a marketing software company. the that sounds pretty boring except we're getting really good updates on their gaming revenue business. they're planning to sell off their mobile gaming business, so analysts like jeffreys are saying we were kind of skeptical, but now that we have a plan, advertisers might be more willing to advertise in the mobile gaming sector to. david: and going the other way, reddit. what happened there? is. >> so this is interesting. they're seeing slower than expected user growth. they highlighted that that google has changed the the algorithm that when you type in search results, people aren't being directed to to reddit as often, and it is impacting them. ten -- i'm sorry, 101.7 million d

the firm also sold, down 74% of its stake in citigroup to hold about $1 billion worth of that name, and 18% of capital one to hold about 1.3 billion of that name. at year end. you can see those shares down a little bit in after hours trading, but they did make a move on this filing revelation. in terms of other positions, other holdings during the quarter, berkshire took a new stake in constellation brands that was worth more than $1 billion, and it bumped up its exposure to domino's by 87%. both of those consumer names getting a boost in after hours trading after berkshire showed some love to each of those, notably constellation up about 7% in after hours on that new stake there. tyler. >> take your money out of the bank and go to domino's. all right. thanks, leslie. >> appreciate it. >> meanwhile, yeah, he could buy a lot of pizza, by the way. meanwhile, casino stocks hitting the jackpot this week, draftkings leading the pack soaring more than 26% since monday. mgm up 15%. caesars wynn also getting in on the action and also in on the action. contessa brewer what's driving the gains? >

mean, geopolitics are very tricky for any of the large global banks at the moment, be it jp morgan, citigroup or hsbc. hsbc sort of famously had this three legs of a stool strategy. a few years back, which is a big leg in the us, a leg in asia and one here in europe. it is increasingly difficult, i think, as trump becomes increasingly isolationist, to really follow that route. the thing i'm sort of slightly hoping happens again is that trump had a lot of anti-china rhetoric in his last administration, but didn't actually do that much that damaged sort of east west trade flows. if it is, again, going to be a case of more words than action, then i think hsbc remains in a pretty good place. but i mean, geopolitics are challenges for all of these businesses. and in fact, i've just heard the ceo on the conference call a few moments ago saying trade flows east to west are becoming increasingly fragmented. so it might not be the goods and services are going from point a to point b, but they're moving around. now. perhaps that is to make things appear slightly more friendly from a trump administratio

shares of nike dropping almost 4% after a downgrade from citigroup analysts also cutting their price target to $72, down from 102. the note, citing sales pressure and competitive threats and nike's running shoe business. analysts saying they are, quote, no longer they no longer have the patience to wait another year for the company to make a comeback. now, shares closed the day at their lowest level since the depths of the pandemic. that was nearly five years ago. courtney, i'm not entirely surprised that this is going to take a while for a turnaround. maybe i'm surprised that citi thought that it would take a year. are you surprised about this? >> no, and. >> i think this has been the. >> case for a while, right? >> i mean. >> their biggest issue. >> is competition. like, are people still buying as much footwear. >> or activewear? >> and then if. >> they are, are. >> they going to hoka. are they going to have some real competitors there? and nike is. >> just. >> not giving us like. >> a. >> light at the end of the tunnel there, which is really the problem. and, you know, citi is. >>

citigroup boosting ceo jane fraser's total compensation to $34.5 million last year.ar ago as she continues to revamp bank's operations. just over 11.5 million of her new compensation is in the form of deferred stock and watching shares of hsbc. the bank reporting an annual pretax profit of $32.3 billion. that was below analysts estimates. hsbc adds it will buy up buy back up to $2 billion in shares. all right. turning back to the u.s. market. stocks there holding steady today after the s&p 500 and the nasdaq 100. they both hit record highs yesterday. taking a look at futures. we've seen futures turn to the downside during the hour. all three indices in the red. looks like the dow would open about 65 points lower. joining me now is nimrit kang, chief investment officer and senior portfolio manager at northstar asset management. nimrit good morning. good to see you. >> good to see you, frank. >> so nimrit just seeing the futures turn to the red over the last hour. what do you make of that? >> we expect a lot of choppiness. >> in the market here, frank. >> you know, we

goldman sachs morgan stanley jp morgan citigroup all down. in fact goldman sachs guy your old company single handedly cutting 180 points off the dow jpm lopped off another 76. but the real interesting action i mean, if you really want to get under that hood, look at some of the more m&a focused names. i'm talking, tim, about the molson companies, i'm talking about the evercore, i'm talking about the lazard. president trump signaling this week that he would keep strict joe biden era merger guidelines in place. karen, we'll kick it off with you because you actually pointed out this action earlier today. >> yeah. so all the banks got hit, but they seem to be getting hit differently. and the ones that did seem to have big m&a businesses seem to be getting. >> hurt more. >> i think it was on the heels of that. they've had a big run though. part of the story that's been that's made the banks such a good place to be is not only obviously regulation and, you know, a pro business environment, but the idea that m&a would be coming back with a vengeance

ensure it's aligned with long term business strategy. >> citigroup, meanwhile.ng suit, ending. >> its workplace. representation goals. >> and removing. >> requirements to. >> interview job candidates. >> from diverse backgrounds. >> ceo jane frazier said in a staff memo that it will. >> rename its diversity. >> equity and inclusion and talent management team to. >> talent management and engagement. coming up. companies have been looking to frontload. their imports ahead of the tariffs. >> president trump. >> has threatened on a wide range of products and countries. >> we're going to. >> talk to the head of the port of los angeles next. >> executive edge is sponsored by at&t business. next level by at&t business. next level moments. need the next it all started with a small business idea. it's a pillow with a speaker in it! that's right craig. pulling in the perfect team to get the job done. i'm just here for the internets. at&t, it's super-fast! you locked us out?! and when thrown a curveball... arrggghh! ahhhh! [crashing sounds] we had everything we needed. is

citigroup has lifted ceo jane fraser's compensation to $34.5 million for 2024, pop a third from the previoushe continues to drive a plan for higher returns at the wall street bank. that makes her race among the biggest -- raise among the biggest of ceos of large banks. jonathan: thank you. up next, cutting waste. >> the goal is to try to get $1 trillion out of the deficit. if the deficit is not under control, america will go bankrupt. jonathan: that conversation is just around the quarter with -- corner with jennnifer flitton. good morning. ♪ jonathan: set the alarms around this time tomorrow. scott bessent of the treasury, 7:00 a.m. eastern time, live in the studio in new york city for 25 minutes on the state of the economy, the outlook for tariffs , for taxes and regulation and a lot more. that's tomorrow morning at 7:00 a.m. eastern time live on bloomberg surveillance. cutting waste. >> the overall goal is to try to get $1 trillion out of the deficit. if the deficit is not under control, america will go bankrupt. this is important to understand. if an individual overspend, they can go ban

citigroup is the latest company to abandon d.e.i. goals. increasing representation among women and ethnic minorities. bloomberg had a memo saying that the bank is dropping the policy citing pressure from the trump administration peered espn and major league baseball are ending their decades-long broadcast relationship after the 2025 season. the decision came after espn made it clear its intentions to reduce rights, which the mlb deemed unacceptable. both left the door open to negotiating a future deal. jonathan: more later this morning. next, the morning calls plus nvidia earnings due out in a we ek's time. from new york city, this is bloomberg. ♪ i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. so, what are you thinking?

citigroup says it has positive locations for china's tech sector.eople want to go and invest even though we are seeing more hot rhetoric from the u.s. and export controls and concerns about semiconductors. jonathan: this will support the sentiment shift. are we seeing a fundamental shift? there were some green shoots. it will take some green shoots given the struggles the economy has had in the last two years. lisa: does this end up spurring some of the demand we had been expecting? green shoots are great shoots. let's see how it translates because it's beneficial sentiment when it comes to chinese tech companies. jonathan: another read on china and more. shares of ihg sliding this morning. we can catch up with the ceo elyas galou. if we can get a regional breakdown and how you read the global economy at the moment and then into some of the operational issues and the company. let's start with china. are you seeing things bottoming out or not? >> first of all, great to be with you on this earnings day. we had an excellent performance in 2024. operati

. >> who chuck prince is, because many people may not even remember he was the man who ran citigroup during the financial crisis or going into it. he'd been the general counsel, by the way, took over for, i think it was for sandy weill. yeah. and that was his famous quote. and of course, citi basically was this close to me insolvency. >> well that's true. yes it was. they were the worst. and that's why i think that their book value is still tangible, book value still, they've never. fully recovered from. no, they did. okay. i think that we're going to see this is what's going to break amazon out. the word that they have an alexa who's going to be your personal assistant. >> you wrote about this yesterday. >> yes. now i mean this morning i get up, it's like, you know, the usual 4:00 the futures look bad with honeywell at 238. and i asked all i ask all i ask was beethoven's first piano concerto. nice. and i get those brendel sonatas. oh, well, i mean, what what did i say to her that said sonata to her? now, when i go to brian olsavsky, i go to the cfo and i have said this. i've said, i

we saw a waffling back and forth at citigroup, a whole host of organizations are saying, back to work, and they have the leverage to do so now because many people suggest they have more of the upper hand than they did two years ago. jonathan: we will get to that story in about 20 minutes time. we also have to spend time unpacking that news conference yesterday. there was one piece that jumped out to me. the president turned around and suggested the europeans had offered to drop their tariffs on autos. it is kind of bizarre. then he looked to his side to confirm the news. no one followed up. i have seen reports about the europeans offering to do that, but i haven't seen any confirmation of it. annmarie: there was one journalist who did ask the white house about it and what i got back was an ft story from a week ago where european parliament committee told the financial times the block was willing to lower its 10% tariff and put it closer to 2.5%. potentially when we say trump is in negotiating mode, this is what he is talking about. he wants to make that cap much more in line. jonathan

geoff meacham of citigroup. come on soon and we will talk about this more.res right now positive by .1%. let's get you an update on stories elsewhere. here is you yahaira jacquez. >> u.s. allies expect the trump administration to present and long-awaited plan to end russia's war in ukraine at the munich security conference next week. it is set to be presented by keith kellogg and includes potentially freezing the conflict and leaving territory occupied by russian forces in limbo while providing ukraine security guarantees. meanwhile, softbank is in talks to acquire ampyra computing. talks are in advanced stages and may value the chipmaker at about 6.5 billion dollars. this is the latest deal in a wave of chip companies looking to capitalize on the ai spending boom. a transaction may be announced in the coming weeks. the bank of england cut its key interest rate to 4.5% which struck a hawkish tone. the central bank signaling that only two more reductions are needed to bring inflation to its 2% target. seven of the nine members voted for the quarter-point cut,

. >> citigroup's ceo has told top executives the bank will continue to allow most employees to work remotely week. that bucks the return to office trend of other major banks, including jp morgan and goldman sachs. the financial times reports citi ceo jane fraser believes more flexible work requirements give the bank a competitive advantage. all right. coming up. senator peter welch on the role of doge and its relationship with president trump. >> and later merck and pfizer, both reporting earlier. >> this morning got a tale of two. >> former companies. we're going to talk pharma and china's. >> tariff retaliation. >> impact on the sector. squawk box coming right back. >> i want the fastest. >> working glp one for half the price. rowe now offers fda approved weight loss injections cheaper with results. you can see faster. lose 15% of your weight with the formula from eli lilly that hits not one, but two hormones to curb hunger and nausea, weight loss faster. confidence. higher. >> price cheaper. >> see if you qualify. >> at koco-tv. >> chronic sleep disorder affects an estimated 70 million am

. >> meantime, citigroup ceo jane fraser got a raise last year. total compensation for 2024. from the prior year. the majority of her pay, in the form of stock linked awards 11.6 million in deferred stock, 16.5 million in performance share units. in a regulatory filing, the board's compensation committee saying in part it believes that miss fraser's strategic and other priorities are sound and that she's executing on them promptly and thoughtfully. >> and the stock. >> has been on the move recently. obviously, if you go back longer, it's been a tough slog. but it's $8. >> stock even though it's 80. but because of the reverse split, but it's up from like 50, 40 or 50. and it's like was like turning around. you know, whenever we have anyone on to talk about it, it's like there were a lot of issues that she that she's had to deal. >> with and like trying to fix. >> so and that's why the number came in at what seems like an exorbitant number. but a lot of it probably has to do with with the stock appreciation in the stock. >> meantime. >> when we come. >> back a lot. >> more on s

. >> citigroup lowered its rating from a buy to a neutral and cut its target price from $102 down to with the company's new ceo, elliott hill, and discussing plans to achieve the turnaround plans there, those analysts no longer believe that fiscal year 2026 will inflect in the way that they had hoped, so by goes to neutral. nike shares dow component down one half of 1%. and by the way, for more on that and other calls of the day, just head over to cnbc.com. slash pro subscribers get full access to all the details. and we'll end with the big stock story of course of the morning. and that's amazon. those shares are still in the red down by about 3%. that's way better than what we saw at some of the lows last night. the tech giant reported better than expected earnings and revenues for the quarter, but its guidance disappointed some investors. amazon expects revenue to grow between 5 and 9% in the first quarter, with the low end of that range now marking the slowest growth on record for amazon since the company went public back in 1997. amazon's blaming the weak guidance on other things