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Citigroup to face charges of misleading investors

American courtroom

Citigroup failed to persuade a U.S. appeals court to throw out a lawsuit that claims it lied about the riskiness of securities valued at almost $1bn, as the world’s biggest banks continue to defend against allegations they misled investors in the run-up to the financial crisis.

Tullett Prebon to trim headcount

Graph And Coins

British interdealer broker Tullett Prebon said on Friday it would cut costs and trim headcount as challenging market conditions continued to weigh on its business, sending revenue 12% lower in the first four months of the year.