Citigroup on Track to Eliminate Jobs and 4 Heavily Traded Shares Change Hands Today
Sirius XM Radio Inc (NASDAQ:SIRI) said that they will celebrate the addition of Click and Clack with a “Car Talk” marathon on Thanksgiving Day. The marathon will air on SiriusXM Public Radio beginning November 22 at 9 a.m. ET until November 23 at 5 a.m. Sirius will be featuring favorite shows such as Tom and Ray’s special Thanksgiving Show.
Facebook Inc. (NASDAQ:FB): After yesterday’s Firefox for Android update, Facebook Inc. has accepted a request from them and Mozilla’s new Social API today as the browser gets enhanced with several security and feature updates. The largest unveiling in Firefox 17 is the Social API, set to launch with Facebook Messenger, which will allow participating social networking sites to create persistent sidebar access to their site.
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Citigroup (NYSE:C): According to people who have been briefed about the process, Citigroup is on track to eliminate 300 sales-and-trading jobs world wide, in 2012. The cuts follow a 5% reduction in Citigroup’s securities-and-banking unit that happened last year, a move that eliminated 900 jobs. The sales-and-trading business is part of the securities unit which employs roughly 17,000 people. Citigroup cut thousands of jobs during the financial crisis, but more recently has received criticism from analysts for not downsizing quicker in the face of new regulations and changing market conditions. The New York company employs 262,000 people world-wide.
Pfizer (NYSE:PFE): Nestle SA (NESN)’s acquisition of Pfizer Inc. (NYSE:PFE)’s infant-nutrition unit in Mexico was blocked by the nation’s antitrust agency which said the deal will hurt consumers. The transaction, part of an $11.9 billion deal to buy Pfizer’s worldwide nutrition business, would give Vevey, Switzerland-based Nestle a market share of as much as 88%, depending on the type of baby formula. That would lead to price increases of as much as 11.5%.
Alcatel-Lucent (NYSE:ALU) said that they have helped to provide fiber-based 1-Gbps broadband service to all 33,000 residential and business electric customers of Bristol, Tennessee Essential Services (BTES). BTES has been a longstanding Alcatel-Lucent customer. Powered by Alcatel-Lucent’s GPON technology, Bristol’s fiber to the premises (FTTP) network will accommodate speeds of up to 1 Gbps which is 10X faster than the United States Federal Communication Commission’s National Broadband Plan which calls for 100 Mbps speeds for 100 million households nationwide by 2020.