Word: monday
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...Monday, Citigroup said it had worked out a deal to repay $20 billion in government bailout money and terminate a loss-sharing agreement the bank had with the government for Citi's riskiest assets. Citi CEO Vickram Pandit said the moves were signs that his company was returning to financial health. The deal would also remove much of the government's pay restrictions on the bank. "These actions move us closer to ending a very difficult period for our company," wrote Pandit in an internal memo to Citi employees. (See 25 people to blame for the financial crisis...
...state. According to research firm Creditsights, Citi has made an estimated $5.9 billion in loans in the U.A.E., which includes Dubai as well as its oil-rich neighbor Abu Dhabi. Of that, $1.9 billion was made to Dubai World. In the end, it might not lose that much. On Monday, Abu Dhabi said it would provide $10 billion in financing to help Dubai pay off its debts. And Citi says that "although we do not comment on individual exposures, we are very comfortable with our investment across all of the UAE, which remains one of our priority markets...
...particularly with netbooks and TVs," says Andrew Hargreaves, an analyst at Pacific Crest Securities. According to the Consumer Electronics Association, 80% of adults say they intend to purchase technology as a gift this year, the highest figure in the 16 years the organization has tracked holiday shopping patterns. On Monday, Dec. 13, Citigroup analyst Kate McShane raised her price target for Best Buy, the country's dominant electronics retailer, from $40 to $45 per share. "We are seeing stronger traffic at [Best Buy] in its laptop, Geek Squad and video-game sections, while traffic remains healthy in TVs and digital...
Ivygate recently reported that YouTube user “Dauphinish” released a video on Dec. 4 that, according to the YouTube caption, offers a “look inside the courtyard of Yale's oldest secret society.” And Gawker reported on Monday that the new privacy settings on Facebook confused a "boneswoman," which resulted in her pictures (from a Skull and Bones party at its retreat on Deer Island) being leaked out to the interwebs. Oops...
Berlusconi is now the recipient of bipartisan sympathy. Democratic party leader Pierluigi Bersani visited Berlusconi at the hospital on Monday, while Ezio Mauro, editor of La Repubblica, which has been hounding Berlusconi even more than usual in recent months, declared in an editorial that there is no space to justify any act of violence: "First because it is so grave in itself, and also because it could lead to a tragic season that we have already experienced in the worst years of our life," a clear reference to the ideological terrorism that left hundreds dead in Italy in the 1970s...