Company Briefs : Citigroup
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Citigroup
Citigroup is weighing the option of providing cryptocurrency-related services after a surge in interest from clients, the Financial Times reported yesterday.
The bank has not yet decided whether it will offer clients cryptocurrency-related services, but trading, custody and financing are all under consideration, the newspaper reported, citing Mr Itay Tuchman, the bank's global head of foreign exchange.
Citi has seen a "very rapid" accumulation of interest in bitcoin across a broad spectrum of clients, Mr Tuchman told the FT, adding that the bank was in no rush to come to a decision.
REUTERS
Peloton Interactive
Peloton Interactive on Thursday estimated a hit of US$165 million (S$220 million) to current-quarter revenue from a recall of its treadmills as the company laid out steps to improve the safety of the equipment.
Shares of the interactive fitness equipment maker reversed course to be up 5.9 per cent at US$88.73 in extended trading on Thursday.
On a post-earnings call after the company beat estimates on demand for its flagship exercise bikes, chief executive John Foley said Peloton would postpone the US launch of Tread that was scheduled for May 27.
REUTERS
IAG
British Airways parent IAG reported mounting losses and said it is expecting only a gradual recovery in travel from the coronavirus pandemic as the UK prepares to reopen its borders.
IAG, which also owns Spain's Iberia and Ireland's Aer Lingus, will deploy just 2 per cent of its 2019 capacity this quarter, given "limited progress" in restoring markets, it said yesterday. The group said a rebound to pre-virus demand levels will take until "at least" 2023. IAG reported an adjusted operating loss of US$1.4 billion (S$1.9 billion) in the first three months amid new lockdowns.
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