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Customers getting squeezed as credit card companies clamp down (Austin American-Statesman)
WASHINGTON — Cecil Bello has stumbled into a new corner of the credit squeeze. The 32-year-old management consultant has had the limits reduced on three of her credit cards.
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FIRST COAST TICKER: Citigroup's credit card division facing more losses (The Florida Times-Union)
The federal government's bailout package last week for Citigroup Inc. protects the global banking giant against some losses from residential and commercial mortgages. But Citigroup's mortgage operations are not the only business losing money these days.
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Sector Snap: Consumer Lenders (AP via Yahoo! Finance)
Consumer spending is likely to decline as the nation's largest credit card lenders cut customers' credit lines over the next year and a half, which could hurt revenue and profit for the banks and slow an economic recovery, according to one analyst.
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CFO: Citi to Keep Global Breadth as it Fights Back (Financial Planning.com)
Despite the perils of a mounting global recession and a taxpayer bailout impelled by the loss of investor confidence, a top Citigroup Inc. executive says the company has no plan to dramatically alter its strategy or relinquish international holdings to the point of substantially reducing its global breadth.
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Stocks rally after retreat (CNN Money)
Wall Street recharged the rally Tuesday afternoon at the end of a volatile session as investors welcomed signs that the automakers might get a bailout after all.
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Ahead of the Bell: Bank of America (AP via Yahoo! Finance)
An analyst cut Bank of America Corp.'s earning estimate, saying it is likely to face further write-downs on assets, rising loss reserves and a slowdown in business.
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Building Growth From Ground Up (Marketing Y Medios)
In the summer of 2001, when Citigroup finalized its $12.5 billion acquisition of Mexico's Grupo Financiero BanamexAccival, Rebeca Vargas was just another promising MBA rookie working for Citigroup's mergers and acquisitions team in New York. By late 2002, Citigroup had Banamex in its back pocket but did not have a clear plan to make the most out of the merger.
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A bedside guide for Henry Paulson (Asia Times)
It was the unique genius of Woody Allen that turned Dr David Reuben's daring (for the time, anyway) 1969 question-and-answer book, Everything You Always Wanted to Know About Sex (but were afraid to ask) into a 1972 skit comedy film.
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Retail outlook worrisome; feds aid Citigroup (Queens Chronicle)
Even Santa Claus looks a little down as the shopping season opens. (photo by Franklin Jimenez) When Macy’s puts men’s dress shirts usually priced at $37.50 on sale for $10.99 a week before Black Friday, you know something’s up with retail.
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Bailout-a-Go-Go (GoldSeek.com)
By: Peter Schiff, Euro Pacific Capital, Inc. By: Peter Schiff, Euro Pacific Capital, Inc.
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