CEO calls Citi's quarter 'disappointing' as net drops 57%

11:51 am ET Oct 15, 2007

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CEO calls Citi's quarter 'disappointing' as net drops 57%

NEW YORK
Citigroup said Monday that third-quarter profit fell 57%, not as bad as
expected, as the nation's largest bank took a hit from this summer's
credit market crisis, though the firm's CFO said related issues in the
fixed income markets could affect the fourth quarter as well.

Banks to create credit-market cleanup fund

WASHINGTON
Bank of America, J.P. Morgan Chase & Co. and Citigroup said Monday
they've agreed to create a special fund to help guarantee liquidity in
the commercial-paper markets.

Futures Movers: Oil futures probing uncharted territory above $85

SAN FRANCISCO
Crude-oil futures advanced Monday into uncharted territory above $85 a
barrel, with the market continuing to find support from concern about
risks to production in the Middle East and declines in U.S. crude
supply.

Mattel's third-quarter profit slips 1%, stung in part by recalls

NEW YORK
Mattel Inc. on Monday reported a 1% decline in third-quarter profit, as
strength in the toy maker's international business wasn't enough to
offset a charge related to product recalls as well as weakness in the
U.S. market.

Danaher in deal to acquire Tektronix for $2.8 billion in cash

SAN FRANCISCO
Tektronix Inc. shares surged 33% on Monday after Danaher Corp. said it
has agreed to buy the world's second-biggest maker of test and measuring
equipment for $2.8 billion.