US considers rescue plan for ailing Citigroup
CITIGROUP could be the next financial company to be bailed out by the US government after its shares lost more than half their value in three days.
US government officials were last night discussing rescue packages for the ailing bank, including buying the company outright or taking over parts of the bank. Experts estimated Citigroup would need a cash injection of at least 34bn to survive.
Today Citigroup will launch a series of adverts in newspapers across the world to try to emphasise its stability. The adverts will boast that the bank has 200 million customers around the world to boost confidence.
The move comes days after Citigroup chief executive Vikram Pandit made a company-wide conference call to assure workers the bank was in a solid position despite reports, and told them to ignore falling share prices.
Email to a friend
Print this page- Broken Rangers: Club signals intention to go into administration
- Rangers run into the ground as furious HRMC battles to claw back tax
- Scottish independence: David Cameron set to snub Alex Salmond’s separation talks bid
- Rangers blame HMRC for driving club to brink of administration
- Six Nations: Steadman given notice as ruthless Robinson seeks to strengthen team
- Scottish independence: No breakthrough in talks between Alex Salmond and Michael Moore
- Scottish independence: David Cameron set to snub Alex Salmond’s separation talks bid
- The Rumour Mill: Tuesday’s football news and gossip
- The Rumour Mill: Monday’s football news and gossip
- Alex Salmond claims Scottish independence would be good for English regions
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Wednesday 15 February 2012
Today
Cloudy
Temperature: 6 C to 11 C
Wind Speed: 18 mph
Wind direction: West
Tomorrow
Cloudy
Temperature: 6 C to 11 C
Wind Speed: 20 mph
Wind direction: South west
