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The Latest Breaking News from Citigroup

These major banks see a "mild recession" coming in 2023

JPMorgan Chase, Bank of America and Citigroup are bracing for an economic downturn in 2023, including an uptick in unemployment, even as they continue to benefit from strong consumer spending and higher interest rates.

Axios

Voters have few options to remove George Santos from Congress – aside from waiting until the next election

There are mounting calls from both politicians and voters to force the newly elected apparent fabulist U.S. Rep. George Santos from Congress following revelations he fabricated his background and other details of his life.

The Conversation

Jamie Dimon is waffling on his economic ‘hurricane’ take yet again. His bank is now calling a ‘mild recession’ later this year

Wall Street banks are building cash reserves to cope with a “mild recession.” It’s a more optimistic outlook than some CEOs have previously offered.

Fortune

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Dow Jones Falls 250 Points As JPMorgan Slides On Earnings; Tesla Dives On Price Cuts

The Dow Jones Industrial Average fell 250 points Friday, as JPMorgan sold off on earnings. Tesla stock dived on U.S. and European price cuts.

Investors Business Daily

Dow Jones Futures Fall: JPMorgan Earnings, UnitedHealth Top; Tesla Slashes U.S., European Prices

UnitedHealth earnings topped, with JPMorgan and several banks on tap. Tesla slashed its U.S. and European prices.

Investors Business Daily

Hanes, Citigroup Make List of Undervalued Stocks

Value has creamed growth in the past year, with Russell 1000 Value slipping 17 percentage points less than Russell 1000 Growth.

The Street

How Much Will Bank Stocks Move On Earnings? Draw Estimates With Option Prices

Bank stocks are expected to move between 3.80% and 5.90% over this week’s earnings announcements. Here's what the option market is saying.

Investors Business Daily

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How To Bet Against A Blowout On Citigroup's Earnings

Citigroup has only realized an average move of 3% on prior earnings events.

Investors Business Daily

The GOP war on green investing

From the U.S. House to state governments, the GOP takes aim at pro-climate finance strategies

Salon

Crypto took such a beating in 2022 that U.S. regulators have teamed up for the first time to sound the alarm to banks

Deutsche Bank, Wells Fargo, Citigroup and Bank of America have all invested in crypto staffing divisions in recent years.

Fortune

Citigroup Passed On Alameda Research Partnership Due To Lack Of Risk Management: Report

Banking giant Citigroup considered partnering with Alameda Research, now-bankrupt crypto trading firm, to launch a crypto lending.

Zenger

New congressman admits lying about background and pretending to be 'Jew-ish'

Republican rep for New York, George Santos, admitted "sins" of "embellishing" his resume and that his false claim of being Jewish was due to a tenuous maternal link, which he refered to as being "Jew-ish"

Daily Mirror

Newly elected US congressman admits his life story is all made up

From his education, to his heritage, George Santos has admitted he "embellished" during his successful campaign.

The New Daily

Democrats call for GOP faker to quit

George Santos says he's sorry for "having embellished his résumé" — but his claim to be Jewish might sink him

Salon

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Tribune News Service

Looking for votes, GOP leader McCarthy might have to look past Rep.-elect Santos' serial fabrications

WASHINGTON — U.S. Rep.-elect George Santos’ serial fabrications about his life story sets up a key test for Republican leader Kevin McCarthy, who’s struggling to win next week’s vote for House speaker.

Reason

"Liar Rep.-Elect George Santos Admits Fabricating Key Details of His Bio"

The New York Post (Victor Nava & Carl Campanile) reports: "My sins here are embellishing my resume. I'm sorry," Santos said Monday. Santos confessed he had "never worked directly" for Goldman Sachs and Citigroup, chalking that fib up to a "poor choice of words." The 34-year-old now claims instead that…

The Independent UK

Newly elected Republican admits to lying about his background but insists he won’t step down

Santos won Long Island’s Nassau County seat in midterm elections

The Independent UK

Embattled GOP congressman-elect George Santos promises to address holes in resume next week

Democrats jump on New Yorker’s apparent fictions after failing to weaponise them during 2022 midterms

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The Independent UK

Rep.-elect George Santos silent amid questions about resume

A Republican who won a seat in the U.S. House in the November election is under pressure to explain himself amid evidence he fabricated parts of his life story

The Independent UK

GOP congressman-elect responds to accusations of faking his background story with a fake quote

George Santos’s election was key to the GOP attaining majority in the House

The Guardian - US

Republican congressman George Santos reportedly fabricated parts of résumé

The incoming congressman’s biography is now being re-examined as opponent claims Santos was ‘running a scam against the voters’

Axios

The murky details in one congressman-elect's campaign biography

A new report raises serious questions about Rep.-elect George Santos' résumé.

Fortune

Goldman Sachs weighs 40% cut on investment banker bonuses

As Wall Street goes from feast to famine, Goldman Sachs is reportedly weighing the largest cuts to banker bonuses since the 2008 financial crisis

Fortune

How CEOs can lead in a recession and come out stronger: 5 powerful strategies from corner-office veterans

Battle-tested business leaders from CVS, Southwest Airlines, Honeywell and other Fortune 500 companies share their best ideas for navigating a downturn.

Investors Business Daily

Dow Jones Climbs Ahead Of Fed Minutes; Jobless Claims Jump; Tesla Races Higher On Upgrade

The Dow Jones Industrial Average rose Wednesday ahead of the Federal Reserve's minutes. Tesla stock raced higher on an upgrade.

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