Citigroup

Stanley Fischer, the vice chairman of the Federal Reserve, announced on Sept. 6 he will retire next month, creating a third vacancy for President Donald Trump to fill at the US central bank.
 

Frankfurt could become a miniature version of London after Brexit, a city official has predicted, after a study said tens of thousands of jobs would be created, bolstering Germany's banking capital.

Frankfurt could become a miniature version of London after Brexit, a city official has predicted, after a study said tens of thousands of jobs would be created, bolstering Germany's banking capital, Reuters reported.

Akin Ipek, one of Turkey’s richest men, was staying in the Park Tower Hotel in London when the police raided his television network in Istanbul. The raid was national news, so Mr. Ipek opened his laptop and watched an unnerving spectacle: an attack on his multibillion-dollar empire, in real time.

The Greek government is expected to declare the country’s exit from the memoranda as it prepares to issue a 5-year bond upon returning to the markets later on Tuesday. The exact amount of money and the bond rate the Greek state will draw will become public on Tuesday afternoon.

Greece will return to bond markets, according to reports on Monday. The offers book is open for investors Monday and will remain so for 24 hours. The country invited holders of outstanding 4.75% 2019 bonds to tender them for cash in a switch offer. The government aims to draw €4.03bn at a rate below the 4.95% the previous government had borrowed at in 2014.

Yields on Greek government bonds rose on Thursday after IFR reported six banks had been hired to arrange Greece's first bond sale in over three years.

The Thomson Reuters market news and data service said late Wednesday Greece had mandated Bank of America Merrill Lynch, BNP Paribas, Citigroup, Deutsche Bank, Goldman Sachs and HSBC for a five-year issue. The banks declined comment.

The founding family members of Turkey's Koç Holding and some non-management members of the family of another leading conglomerate, Sabancı Holding, have decided to sell stakes in the firms. 

Shares in the company fell sharply on May 25 following the related announcements. 

The Greek economy will likely pay a heavy price for the delay in the bailout review, as international banks and economic entities have been downwardly revising their estimates for the country's gross domestic product this year.

Against the budget forecast for 2.7 percent growth, Citigroup and Barclays on Thursday estimated the annual expansion rate at below 0.5 percent of GDP.

The European Commission (EC) warned that the recent announcements by Greek PM Alexis Tsipras to allocate part of the GDP surplus to low income pensioners, which resulted in a heated exchange of rhetoric between the Greek side, EU officials and the IMF, would delay the second review of the fiscal adjustment program.