In a wide-ranging shake-up devised by Vikram Pandit, its new chief executive, Citigroup announced it was reorganising its operations outside the US into four geographical units, each with its own chief executive
The now-nationalised bank announced plans to axe one-third of its staff, halve its balance book and shed 60 per cent of its mortgage holders as it races to repay all but £1bn of its £24bn government loan by the end of next year
The London Stock Exchange said it was looking at “all options” for its clearing arrangements in the latest sign that an overhaul of post-trade services is sweeping Europe
Annual house price growth stalled during March as prices fell for the sixth
month in a row, figures showed today 
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The alleged fraud over which Lehman Brothers is suing Japanese trading company Marubeni for Y35bn ($351m) claimed another victim as it emerged that FinTech Global, a Japanese boutique investment fund, had also failed to recover funds invested in the scheme
Friends Provident is coming under increasing pressure from shareholders to talk to JC?Flowers after the embattled life assurer rejected a £3.5bn takeover approach and refused to enter into discussions with the US private equity group
Paragon, the specialist buy-to-let mortgage lender, has estimated total advances for new mortgages for the first half will be about 50 per cent less than a year ago as it grapples with the credit crunch and its own financing issues
Home information Packs are taking weeks to produce and costing far more than
the Government predicted, according to a report from estate agents 
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With the US economic malaise spreading globally, and little reprieve in sight for the credit markets, M&A dealmaking activity appears likely to stay muted throughout 2008
Lehman Brothers filed suit against one of Japan’s biggest trading firms for $352m after the US investment bank fell victim to an alleged fraud perpetrated by two former employees of Marubeni