Citigroup cuts dividend, and is raising $14.5 billion
Citigroup Inc on Tuesday cut its quarterly dividend 41 percent, and said it is raising $14.5 billion from offerings of convertible preferred securities.
Citigroup Inc is cutting about 2,000 more investment banking and trading jobs, a person briefed with the matter said, as the largest US bank moves to lower costs after subprime mortgage and credit problems led to a record quarterly loss.