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The U.S. federal government announced it would finance a $20 billion investment in financial giant Citigroup and would guarantee losses on more than $300 billion of it's troubled assets. U.S. markets shot up upon hearing the news of Citi's fresh restart with S&P 500 up 494 points from a 11 and ...

Battered by bad investment and lending decisions, Citigroup will be cutting 50,000 additional jobs to cut cost and stem huge losses sparked by bad investment and lending decisions. From MarketWatch.com Management also plans to reduce costs across the company by 20% in the near term and will continue to sell off ...