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Write Downs

Citigroup cuts value of investments by $14B in 1Q

AP | MADLEN READ | Posted 05.25.2011 | Business

NEW YORK — Citigroup's 9,000 job cuts and $14 billion in write-downs suggest that even if the worst of the credit market volatility is over, the...

UBS Will Write Down $19 Billion

AP | ONNA CORAY | Posted 05.25.2011 | Business

ZURICH, Switzerland — UBS AG's chairman abruptly resigned Tuesday as the Swiss bank reported a first-quarter loss of $12.1 billion and said it w...

Fed Cut Is Bad News For Savers

USA Today | Barbara Hagenbaugh | Posted 05.25.2011 | Business

The Fed's cut is good news for borrowers but bad for savers. Lenders cut the prime rate, the benchmark for many home-equity loans. Credit card rates ...