Tag: Breaking News: Markets

[ad_1] Your Hometown Deli in Paulsboro, N.J. Google Earth A North Carolina ex-convict pleaded guilty to securities fraud in connection with conspiring to manipulate the stock of a company that once had a market capitalization of as high as $100 million despite owning just one, small money-losing deli in southern New Jersey. The man, disgraced former stockbroker James Patten, also admitted on Wednesday in New Jersey federal court to conspiring with two other men to manipulate the share price of another related shell company, which had no tangible assets. That company’s market cap was even higher than the Hometown International ... Read more

[ad_1] A trader works underneath a monitor displaying Citigroup Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on June 3, 2016. Michael Nagle | Bloomberg | Getty Images Citigroup is shuttering another Wall Street business as CEO Jane Fraser pushes ahead with her overhaul of the bank, CNBC has learned. The company decided to close its global distressed-debt group, according to people with direct knowledge of the move. Citigroup is exiting businesses with poor returns to bolster the bank’s odds of hitting Fraser’s performance targets. Fraser announced the latest overhaul of the ... Read more