Citigroup | featured news

So begins the tricky process of rolling out stress test results. The dance starts with a leak to the WSJ. Word is that the Federal Reserve has told Citigroup (C) and Bank of America (BAC) that they'll both need to raise billions more in order to be adequately capitalized. Neither is a huge surprise.

The bank’s reported income of $1.6 billion was helped by an accounting adjustment that allowed a one-time gain of $2.5 billion on its derivative positions.

Citigroup Inc named Chief Financial Officer Gary Crittenden as chairman of troubled banking unit Citi Holdings on Friday, and elevated Edward Kelly to replace him as CFO.

Bank of America Corp and Citigroup Inc shares have roughly tripled from multi-decade lows set less than a month ago, and powered higher on Wednesday on speculation their recent punishing declines might have been too severe.

The Dow soars more than 300 points after the banking company reports that it was profitable through the first two months of the year. Other financial stocks also gain. Good news from a bank -- finally -- is sending the stock market to its best gain this year.

Markets rally on positive comments from Citi Chief Vikram Pandit and Treasury Secretary Tim Geithner.

Citigroup Inc said on Tuesday it will allow some newly unemployed homeowners to temporarily reduce payments on their mortgages.

Wall Street is down sharply lower as investors second-guess Citigroup Inc.'s plans to turn over a big piece of itself to the government.

Citigroup and the U.S. have reached an agreement in which the government will increase its stake in the bank and in return will demand a boardroom shakeup.

Nationalization, perhaps a partial one, appears to be inevitable for the financial giant.