Citigroup Cuts 11,000 Jobs as Revenue Slumps
Citigroup Inc.’s Michael Corbat, who took over as chief executive officer less than two months ago, will cut more than 11,000 jobs and pull back from some emerging markets to drive down costs as revenue dries up at global banks.
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Wal-Mart Tops Estimates on Double-Digit Online Growth
39:44 - Wal-Mart topped fourth-quarter estimates as the retailer posted its third straight quarter of growth in online sales following last year's $3.3 billion acquisition of Jet.com. Bloomberg Gadfly columnist Shelly Banjo and Paul Richards, president at Medley Global Advisors, examine the results on "Bloomberg Daybreak: Americas." (Banjo is a Bloomberg Gadfly columnist. The opinions expressed are her own.) (Source: Bloomberg)