Results tagged “bail-out”

Citigroup is to split into two units as it bids to bounce back from fourth quarter losses of $8.29billion.

The results are the US bank's worst since the credit crunch began, and were revealed as the US Senate voted to release the remaining $350billion of the country's bail-out fund.

Bank of America has been bailed out once again by the US government as it struggles with the losses it inherited from recent acquisition Merrill Lynch.

The treasury confirmed it will guarantee $118billion (£80.8billion) in loans and inject $20billion (£13.3billion) into the company.

The US treasury has agreed the biggest banking bail-out so far in a bid to rescue Citigroup.

The government will guarantee up to $306billion (£205bn) of losses and inject $20billion (£13.3bn) in capital to help stabilise the bank, which saw its shares plummet by around 60 per cent last week.

Goldman Sachs has groomed politicians, more than one treasury secretary, and more than a few millionaires. But the history of the 139-year-old Wall Street giant has long been shrouded by "a near fetish for no publicity".

The Wharf meets Charles D Ellis, the man who painstakingly uncovered Goldman's inside story.

WHARF banks Barclays and HSBC have snubbed the Government’s bail-out plan.

PRIME minister Gordon Brown wants to "root out the irresponsible risk taking" in the banking sector after launching a £37billion taxpayer bail-out.

The Government are to pump £20billion into the Royal Bank of Scotland and £17billion into the recently-merged Lloyds TSB and HBOS institution.