Citigroup (C) CEO Mike Corbat, speaking at a conference earlier this week,
indicated the bank's second-quarter net income would be roughly 25 percent lower than the same period a year earlier. Citigroup is scheduled to report quarterly results next month. (Reuters)
JPMorgan (JPM) CEO Jamie Dimon is calling a British exit from the EU a "
terrible deal for the British economy," saying the bank "may have no choice but to reorganize our business model" there if a Brexit were to take place. (FT-subscription)
Wal-Mart (WMT), at its annual meeting today, is expected to announce a
grocery delivery pilot with Uber and Lyft, as the retail giant seeks to use its network of stores to better compete with Amazon (AMZN). (CNBC)
It appears Twitter (TWTR)
had thought about joining the bidding for Yahoo (YHOO). Twitter reportedly met with Yahoo CEO Marissa Mayer to explore a possible merger a few weeks ago, but dropped out of the process soon after the meeting. (New York Post)
Facebook's (FB) board
has submitted a proposal to remove majority voting control from co-founder and CEO Mark Zuckerberg, should he ever decide to leave his management position. (Reuters)
BP (BP) has agreed
to pay $175 million to settle a shareholder class action alleging the firm misled investors by understating the severity of the 2010 Gulf of Mexico oil spill. BP already settled civil claims with the U.S. government and five states for $18.7 billion. (Reuters)
A doctor for media mogul Sumner Redstone said the ailing 93-year-old "
retains the legal mental capacity to make the decisions" that he's made in recent weeks regarding oversight of his controlling interests in Viacom (VIAB) and CBS (CBS). (WSJ-subscription)
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