By The Associated Press
Vikram Pandit stepped down Tuesday as CEO of Citigroup. Here are some highlights of his nearly five-year tenure:
- April 2007: Old Lane hedge fund, which Pandit formed a year earlier, is acquired by Citi for $800 million. Pandit becomes head of alternative investments
PARIS (AP) - The pace at which countries like Greece and Spain cut their deficits with austerity measures must depend on their economic conditions, International Monetary Fund Managing Director Christine Lagarde said Tuesday.
Lagarde said that while financially weak countries should hike tax hikes
By MARTIN CRUTSINGERAP Economics Writer
WASHINGTON (AP) - Foreign demand for U.S. Treasury securities rose to a record level in August, further evidence that most nations see U.S. debt as a safe investment.
The Treasury Department says total foreign holdings rose to a record $5.43 trillion in
EL DORADO, Ark. (AP) - Murphy Oil is splitting in two in order to better focus on the separate tasks of exploration and production, and the sale of gasoline and other goods through its retail locations.
Murphy Oil will continue to explore for and produce oil in the U.S., Canada and Malaysia. The
LONDON (AP) - Teen superstar Justin Bieber has teamed up with the Adidas NEO Label to be its new global style icon.
The two-year partnership with the German sportswear company was announced Tuesday.
The Canadian pop star, who cites James Dean as his fashion idol, says the collaboration is a "
By ALEX VEIGAAP Real Estate Writer
LOS ANGELES (AP) - Confidence among U.S. homebuilders remains at its highest level in six years, reflecting improved optimism over the strengthening housing market this year and a pickup in visits by prospective buyers to builders' communities.
By JOSHUA FREEDAP Business Writer
Inflation is low, earnings are high, investors are happy.
Stocks shot higher Tuesday, giving the market its biggest gain in a month. Results at Mattel, Goldman Sachs, and Johnson & Johnson were all above expectations.
It was the second day of broad gains
By TOM KRISHERAP Auto Writer
DETROIT (AP) - After years of struggling in the nascent market for electric cars, battery maker A123 Systems Inc. filed for bankruptcy protection Tuesday.
The filing drew criticism from Republicans who claim the Obama administration has wasted millions of taxpayer
By ANNE D'INNOCENZIOAP Retail Writer
NEW YORK (AP) - Gap has announced a management overhaul aimed at enabling the retailer to respond more quickly to customers' needs across the globe.
The change will put the North American, international, online, outlet and franchise divisions under a
By The Associated Press
Stocks are opening higher on Wall Street after several big-name U.S. companies posted strong results for the third quarter.
The Dow Jones industrial average was up 70 points at 13,491 shortly after the opening bell Tuesday.
The Standard & Poor's 500 index rose