Bloomberg Citigroup Inc. will award special bonuses to employees under certain income thresholds as it seeks to stem the financial impact of the coronavirus pandemic. In the US, employees who make $60,000 or less a year in base salary will receive a $1,000 payment, Chief Executive Officer Michael Corbat told employees in a memo. For workers based outside the US, ...

Bloomberg The good times for Europe’s bedraggled investment banks came and went in a matter of weeks. Heightened volatility and market turmoil on the back of the coronavirus led to record trading volumes for investment banks in the first quarter, especially in rates, equities and currencies, Citigroup Inc. analysts led by Andrew Coombs wrote in a note to clients. However, ...

Bloomberg Wells Fargo & Co. is joining peers in awarding extra payments to employees as the bank deals with the coronavirus pandemic. Payments go to workers who earn base compensation of less than $100,000 and were employed by Wells Fargo for all of 2019, the San Francisco-based lender said in a statement. Eligible full-time employees will get $600 before taxes ...