Tuesday, October 15, 2013

Tough Times for Citigroup

Bernanke and Company recently enacted a taper postponement, and this action has put the financial sector into somewhat of a downward spiral. A few lucky companies made it through the postponement just fine; in fact, a very select few even experienced a rise. For the most part, though, companies fell after the news of the postponement hit.

One company that took a particularly hard hit after the postponement is Citigroup, which fell a whopping 3.2% and reported that its interest rates and currency businesses could eventually cause a vast reduction in bond trading. It is also estimated that Citigroup’s earnings will be greatly reduced this year from what they have been in previous years.
This isn’t to say, however, that there isn’t some hope left for Citigroup. An improvement in equity trading could turn things around for the company. Curious (or anxious!) individuals will likely have to wait until income tax time to see for sure how things will turn out.


Don’t let yourself or your company be put in this situation; get ready for income tax time by utilizing the services available through Susan S. Lewis, Ltd. of Naperville.  #NapervilleIncomeTax
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