Citigroup

Citigroup is to pay out $590m to shareholders in one of the biggest settlements connected to the global financial crisis, after it was accused of hiding its subprime exposure during the 2008 crash.

Investment bank Citigroup has forecast a 90% chance Greece will leave the euro in the next 12 to 18 months.

Citigroup's top economist Michael Saunders has forecast Greece will exit Europe's single currency on 1 January 2013, and its new currency will immediately depreciate by 60%.

Official figures showing UK corporates' share of GDP is at its lowest level since 1984 cast doubt on claims that UK plc will drive the economic recovery, Citigroup analysts have suggested.

Shareholders in investment bank Citigroup - which failed a recent stress test - have aired their discontent with the financial giant by voting against giving top executives a larger pay packet.

Odey Asset Management's Crispin Odey is favouring US financials and tech stocks across his portfolios, with mega-cap investment banks among his top picks.

Hedge fund billionaire John Paulson sold out of Bank of America and Citigroup in the fourth quarter of 2011, missing the sharp rally enjoyed by bank shares year-to-date.

BONDS

Markets are still searching for a "new paradigm" and will not find the answers to the financial crisis in the current cycle, according to Citigroup CEO Vikram Pandit.

US investment banking giant Citigroup saw its shares tumble in early afternoon trading after the group revealed a fall in profits and sliding revenues.