{"id":87028,"date":"2024-01-11T00:07:23","date_gmt":"2024-01-11T05:07:23","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=87028"},"modified":"2024-01-10T23:22:37","modified_gmt":"2024-01-11T04:22:37","slug":"citigroup-at-risk-of-quarterly-loss-after-charges-come-in-far-higher-than-initially-disclosed","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2024\/citigroup-at-risk-of-quarterly-loss-after-charges-come-in-far-higher-than-initially-disclosed.html","title":{"rendered":"Citigroup at risk of quarterly loss after charges come in far higher than initially disclosed"},"content":{"rendered":"\n<p>(CNBC) <a href=\"https:\/\/www.cnbc.com\/quotes\/C\/\">Citigroup<\/a> warned investors late Wednesday that <a rel=\"noreferrer noopener\" href=\"https:\/\/www.citigroup.com\/rcs\/citigpa\/storage\/public\/Citi_Group_20240110_8-K_EDGAR_Bannerless.pdf\" target=\"_blank\">charges<\/a> tied to the decline of the Argentine peso as well as the bank\u2019s <a href=\"https:\/\/www.cnbc.com\/2023\/11\/06\/citigroup-considers-deep-job-cuts-project-bora-bora.html\">reorganization<\/a> came in far higher than disclosed by the company\u2019s CFO just weeks ago. The bank said its fourth-quarter results, scheduled to be released Friday morning, were <a rel=\"noreferrer noopener\" href=\"https:\/\/www.citigroup.com\/global\/news\/perspective\/2024\/message-from-mark-mason-on-citi-financial-disclosure\" target=\"_blank\">impacted<\/a> by $880 million in currency conversion losses from the peso and $780 million in restructuring charges tied to CEO Jane Fraser\u2019s corporate simplification project.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2024\/01\/10\/citigroup-risk-quarterly-loss-after-disclosing-charges.html\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(CNBC) Citigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank\u2019s reorganization came in far higher than disclosed by the company\u2019s CFO just weeks ago. The bank said its fourth-quarter [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-87028","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/87028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=87028"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/87028\/revisions"}],"predecessor-version":[{"id":87029,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/87028\/revisions\/87029"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=87028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=87028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=87028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}