The Indian unit of Korea’s Hyundai Motor is likely to file a draft red herring prospectus (DRHP) with market regulator Sebi over the next two weeks, initiating the process for an initial public offering, said people familiar with the matter.If successful, this would mark the first IPO by an automaker in India in more than … Read more
Viswas Raghavan is a great hire for Citigroup Inc. but, boy, does he have his work cut out to help his new employer along its road to renewal. Raghavan is a 20-plus-year veteran of JPMorgan Chase & Co. who held a string of senior leadership roles over the past decade, finishing up as head of … Read more
Citigroup will cut 20,000 jobs over the next two years, its Chief Financial Officer Mark Mason said on Friday, after the bank reported a $1.8 billion loss for the fourth quarter. The lender, which currently has 239,000 employees worldwide, will reduce that headcount by 20,000 as part of a sweeping reorganization, Mason told reporters. Citi … Read more
