News Highlights: Top Company News of the Day - Friday at 3 PM ET
12 January 2024 - 8:15PM
Dow Jones News
Citigroup Plans to Cut 20,000 Jobs
The cuts will amount to about 10% of the bank's workforce,
excluding the Mexico business.
Americans' Finances Defied the Skeptics, Bank Earnings Show
JPMorgan, Bank of America, Wells Fargo and Citigroup together
earned $104 billion in 2023, up 11% from the year earlier.
UnitedHealth's stock suffers biggest drop in 7 months as costs disappoint
Shares of UnitedHealth Group Inc. slumped Friday, after the
health insurer reported a jump in medical costs relative to revenue
in the fourth quarter, but earnings that continued to beat
forecasts.
Delta CEO highlights 'testy' geopolitical environment behind lowered earnings guidance
For 2024, Delta expects earnings of $6 to $7 a share, below the
target of over $7 a share the company outlined at an investor day
in December 2022.
BlackRock to Buy Infrastructure Firm for $12.5 Billion
The acquisition of Global Infrastructure Partners, a
private-equity firm focused on infrastructure, would be BlackRock's
largest in 15 years.
Shein's IPO Plans Put It in U.S.-China Crosshairs
What could be one of the biggest listings in years is likely to
depend on the fast-fashion giant's ability to satisfy both Beijing
and Washington.
Banks Can't Count on Loans For Growth
As interest rates fall, growing loans is getting more important,
but also trickier.
European Banks Brace for Testing Times After Peak in Interest Rates
European bank executives say the industry is likely to handle
the shift with resilience, though analysts expect last year's big
earnings boost will lose steam in 2024.
Morgan Stanley Agrees to Pay $249 Million to Settle Block-Trading Probes
The settlement ends a long-running investigation of how the Wall
Street firm sold large tranches of stock for sophisticated
clients.
FAA Says It Will Ramp Up Inspections of Boeing Facilities
The agency plans to audit the Boeing 737 MAX 9 production line
and suppliers after the Jan. 5 emergency involving an Alaska
Airlines jet.
(END) Dow Jones Newswires
January 12, 2024 15:00 ET (20:00 GMT)
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