Citigroup Beats Profit Estimates, Revenues Decline

July 16 (Bloomberg) -- Bloomberg's Dominic Chu reports that Citigroup Inc., the third-biggest U.S. bank, reported a 12 percent drop in second-quarter profit that beat analysts’ estimates on revenue from advising on mergers and underwriting stocks and bonds. Net income declined to $2.95 billion, or 95 cents a share, from $3.34 billion, or $1.09, a year earlier, the New York-based bank said today in a statement. He speaks on Bloomberg Television's "In The Loop."

Inflation Paves Way for More Canada Rate Hikes
12:11 - Canadian government bond yields spiked and the loonie strengthened for a fourth day, as today's economic data paves the way for another Bank of Canada interest rate hike this year. RBC's Deputy Chief Economist Dawn Desjardins joins Bloomberg TV Canada's Lily Jamali to discuss her outlook. (Source: Bloomberg)
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