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Market Rallies on Citigroup Stock Deal
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The stock market rallied Tuesday on a sharp fall in oil prices and news that Citigroup is about to get a major cash infusion.
The Abu Dhabi Investment Authority bought $7.5 billion of Citigroup stock, giving it a 4.9 percent stake in the U.S. financial services giant.
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Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive from readers like you will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
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