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Markets

Citigroup slashes CEO’s pay by 21per cent, to US$19 million

Citigroup Inc said late on Friday that outgoing Chief Executive Officer Mike Corbat's compensation for 2020 would be US$19 million, a 21per cent decrease from 2019, according to a regulatory filing.

Markets

Robinhood, Citadel, Melvin Capital CEOs to testify in Congress on GameStop turmoil

The chief executive officers of Robinhood, Citadel, Melvin Capital and Reddit will testify before the U.S. House Financial Services Committee on Feb. 18 on the trading turmoil in GameStop Corp and other stocks, the panel's chairwoman, Representative Maxine Waters, said on Friday.

Markets

Wall Street’s SPAC craze scales new heights with record filings

Richard Branson and Barry Sternlicht were among more than two dozen investor groups that filed with U.S. regulators on Friday to raise new blank-check acquisition companies, setting a new record.

Markets

US senators prod Biden administration on Nord Stream 2 pipeline sanctions

Two U.S. senators urged President Joe Biden to ensure the implementation of sanctions passed in January aimed at stopping the Nord Stream 2 Russia-to-Germany gas pipeline project, which a State Department spokesman reiterated on Friday was a "bad deal" for Europe.

Markets

Amex reveals US probes into business, consumer cards sales practices

Federal investigators began probing American Express Co's small business and consumer cards sales practices in January, the company disclosed on Friday.

Markets

Facebook building smartwatch with health features: The Information

Facebook Inc is building a smartwatch that will let users send messages and also offer health and fitness features, The Information reported https://bit.ly/378YViU on Friday, citing people with direct knowledge of the device.

Markets

Analysis: How McDonald’s plans to bring back traffic with new cheaper chicken sandwiches

When McDonald's Corp rolls out its new crispy chicken sandwich line on Feb. 24, it will swap out a higher-priced premium chicken sandwich from its menu, the company confirmed to Reuters.

Markets

S&P 500 hits record peak as stocks post weekly gain

The S&P 500 drifted higher on Friday, recovering from early weakness as financial and materials stocks gained ground while investors held out for signs of progress on the next batch of fiscal aid.

Markets

Bumble CEO’s net worth nears US$2 billion as stock rallies post debut

Bumble Inc Chief Executive Officer Whitney Wolfe Herd's stake in the women-centric dating app operator was worth nearly US$2 billion, as shares rallied for a second straight day after a blockbuster debut on Thursday.

Markets

Bumble CEO in billionaire list as stock continues to soar

Bumble Inc Chief Executive Officer Whitney Wolfe Herd's stake in the women-centric dating app operator was worth nearly US$2 billion, as shares rallied for a second straight day after a blockbuster debut on Thursday.

Markets

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