US govt may bail out troubled Citigroup

News Flash

OVER 7% GROWTH ACHIEVABLE IN FY'11
TO EXPLORE STIMULUS EXIT MODE NOW; WINDING DOWN STIMULUS TO CUT DEFICIT
SENSEX UP 1.65%, NIFTY UP 1.8% FOR THE WEEK
CNX MIDCAP INDEX UP 3.9%, BSE SMALLCAP INDEX UP 1.6%
BSE PSU INDEX UP 4.77%, REALTY UP 4.4%, METAL INDEX UP 4%
INDEX GAINERS: BHARTI UP 9.4%, JP ASSOCIATES UP 8.6%, IDFC UP 7%
GETS U.S. FDA NOD FOR GENERIC ACULAR
TO RAISE UPTO $300 MN VIA FCCBS
EXTENDING 8% HOME LOAN SCHEME TILL 31ST MARCH , 2010
INDIAN RAILWAYS SHOULD RATIONALISE PASSENGER FARES UPWARD
TO RAILWAYS: STOP CROSS SUBSIDISING FARES AND FREIGHTS
IMPOSES 20% SAFEGUARD DUTY ON IMPORT OF SODA ASH
ROAD DEFICIT REMAINS THE GREATEST PROBLEM IN INFRASTRUCTURE IN INDIA
INDIA MAY TAKE TWO YEARS TO GET BACK TO 9% GROWTH
JET AIRWAYS RAISES FUEL SURCHARGE BY RS.200 ON SECTORS MORE THAN 1000 KM
JET AIRWAYS RAISES FUEL SURCHARGE BY RS.200 ON SECTORS MORE THAN 1000 KM
DOW JONES UP 0.17%, NASDAQ UP 0.34%, S&P 500 UP 0.25%
INDIABULLS OPEN OFFER LIKELY TO SUNIL HITECH SHAREHOLDERS: NW
E&Y ADVISORS FOR THE SUNIL HITECH BUY: NW
IN TALKS TO BUY CONTROLLING STAKE IN SUNIL HITECH: NW
BHARTI HAS NOT SCALED DOWN ITS RETAIL PLANS
HOPES INDIA 3G AUCTION HAPPENS EARLY
WORRIED ABOUT DELAY IN AUCTION OF 3G SPECTRUM
AIM TO HAVE 2 LARGE MILLS WITH 100 MT CAPACITY; TO CLOSE SMALLER ONES
10 LARGEST STEEL MILLS TO ACCOUNT FOR 75% OF STEEL OUTPUT
TO MERGE STEEL MAKERS TO CREATE RIVALS FOR ARCELORMITTAL
INDIA VICTIM OF TERRORISM FROM ACROSS BORDERS FOR THE LAST 25 YEARS
EDUCATION, HEALTH CARE SECTOR NEED MORE REFORMS
FDI INFLOWS OVER $120 BN SINCE 2001-02
GROWTH ESTIMATED AT 6.5% THIS FISCAL, TO WIND DOWN FISCAL STIMULUS NEXT YR

Updated: 22/11/2008 | 09:24 PM IST

Top Stories

NDTV Correspondent and Agencies

Saturday, November 22, 2008 (Washington)

Blog

Comments:

Read (0)

Post

Rate the story

Global banking giant Citigroup has begun talks with the US government to rescue the bank after its shares plunged to a 15 year low on Friday – wiping out 50 per cent of its market value.

According to reports, the struggling financial giant was under pressure to take immediate measures to stabilize the company.

In a series of tense meetings and telephone calls, executives and officials of Citigroup are also weighing several other options like selling all or part of the company, and even firing its chief executive Vikram Pandit to battle the crisis of confidence in the company.

The course of action, however, remained uncertain on Friday night, the people involved in talks were quoted as saying, and other options may yet emerge. But after a year of gaping losses and an accelerating decline in share price, Citigroup, which has $2 trillion in assets and operations in scores of countries, is running out of time, analysts were quoted by The New York Times as saying.