Skip to main content

Opening Bell: 01.19.10

Citi's $7.6 bln loss meets Wall Street estimate (MarketWatch)
Citi said this morning that it posted a fourth-quarter loss of $7.6 billion, in line with analyst estimates and accounting for more than $6 billion in expenses to repay some government investments. The $7.6 billion loss amounted to 33 cents a share, compared to a loss of $17.24 billion, or $3.40 a share, in the year-ago quarter.
Goldman Delays Bonus Decision (Reuters)
Goldman employees across the pond were supposed to get their bonus numbers yesterday-- but now they're getting them next week, which is very upsetting.
AIG Seeks Changes In Bonus Payments (WSJ)
AIG is obligated to pay out $195 million in retention bonuses in March to AIG Financial Products employees. The company recently discussed a proposal to make the payment several weeks early if employees agree to have it reduced by 10% to 15%, people familiar with the matter said.
Credit Suisse Cuts Global Bonus Pool by 5% to Spread Costs From U.K. Taxes (Bloomberg)
About 400 managing directors in the U.K., who make up less than 10 percent of Credit Suisse's staff in the country, were told today that their bonus pool is being cut by a further 30 percent from planned levels.
Swiss Banker Blows Whistle On Tax Evasion (NYT)
"It is a global problem, and I am only the messenger who provides the bad news, or even better, the truth," Mr. Elmer, 54, wrote in a recent e-mail message. "Offshore tax evasion is the biggest theft among societies and neighbor states in this world."

Report: More men get economic boost from marriage (AP)
Obama Bank Tax: Wall St. Mulls Court Challenge (ABC)
"Using the tax code as a punitive measure, besides being bad policy, creates Constitutional problems," Scott Talbott, chief lobbyist for the Financial Services Roundtable in Washington, told ABC News Monday.