On Tuesday, Shares of Citigroup Inc. (NYSE:C), lost -1.05% to $54.50.
Michael Lavelle, who has headed Citigroup’s capital markets origination team in the Europe, Middle East and Africa region since the financial crisis, has been promoted to head the bank’s corporate and investment banking business in the UK and Ireland, according to Reuters.
As head of UK and Ireland CIB, he will be in charge of Citigroup’s largest country set in the wider EMEA region by revenues and size of wallet. He will also take on the title of vice chairman of EMEA CIB. Both roles will be taken up with immediate effect. Reuters Reports.
Lavelle has been with the bank for over 19 years. During that times, he has led the EMEA equity capital markets before leading the combined EMEA debt capital markets and ECM businesses under the capital markets origination umbrella. Reuters added.
In other news, In celebration of its ongoing partnership with the New York Mets, Citi launched the Citi Bike® Sweepstakes, a social media campaign centered on the new Mets-wrapped Citi Bikes, which will be in market for the month of July. Every day, from July 1st to July 29th, fans will have the opportunity to win special Citi Perks and Mets-themed prizes, counting game tickets and branded backpacks and baseball hats. At the conclusion of the sweepstakes, one participant will win the chance to throw out the first pitch at Citi Field®.
Mets outfielder Curtis Granderson and Mrs. Met joined Citi’s Head of Global Public Affairs Ed Skyler in Central Park recently to kick-off the month-long campaign. To enter the sweepstakes, fans will need to take a photo of one of 50 Mets-wrapped bicycles that are placed across Citi Bike stations in the city and share on Twitter or Instagram using #CitiBikeSweepstakes. One winner will be selected at random each day for the duration of the Citi Bike Sweepstakes.
Citigroup Inc., a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions worldwide. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
Shares of Jumei International Holding Limited (NYSE:JMEI), declined -11.95% to $17.61, during its last trading session, as the stocks of China-based companies fall due to the country’s economic uncertainty.
China’s stock markets are struggling with the Shanghai Composite Index having declined by more than 25% since mid-June, CNNMoney.com reports. The Shenzhen is down further.
Experts say the jump in the Chinese stock market earlier this year was due in part to average investors taking on debt in order to invest in stocks, CNNMoney.com added. Last month, when stocks first began to fall investors had to sell their investments in a hurry in order to pay back the loans.
On Sunday, Chinese regulators declared that they would make more capital accessible for an entity that will allow for more margin lending, a risky practice, CNNMoney.com said.
Jumei International Holding Limited operates as an online retailer of beauty products in the People’s Republic of China. The company offers beauty products, such as cosmetics, skin care, cosmetic applicators, fragrance, and body care products; and beauty products for men, and baby and children.
Finally, Plains All American Pipeline, L.P. (NYSE:PAA), ended its last trade with 2.01% gain, and closed at $43.56, hitting its lowest level.
Plains All American Pipeline, and Plains GP Holdings (NYSE: PAGP) recently declared their quarterly cash distributions with respect to the second quarter of 2015. The distributions will be payable on August 14, 2015 to holders of record of each security at the close of business on July 31, 2015.
PAA raised its quarterly cash distribution to $0.695 per limited partner unit ($2.78 per unit on an annualized basis), which represents an enhance of 7.8% over the quarterly distribution of $0.645 per unit ($2.58 per unit on an annualized basis) paid in August 2014 and an enhance of 1.5% over the quarterly distribution of $0.685 per unit ($2.74 per unit on an annualized basis) paid in May 2015. Once the August 2015 distribution is paid, PAA will have raised its quarterly distribution to limited partners in 43 out of the past 45 quarters and successively in each of the past 24 quarters.
PAGP raised its quarterly cash distribution to $0.227 per Class A share ($0.908 per Class A share on an annualized basis), which represents an enhance of 23.8% over the quarterly distribution of $0.1834 per Class A share ($0.7336 per Class A share on an annualized basis) paid in August 2014 and an enhance of 2.3% over the quarterly distribution of $0.222 per Class A share ($0.888 per Class A share on an annualized basis) paid in May 2015.
Plains All American Pipeline, L.P., through with its auxiliaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), natural gas, and refined products in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
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