Citi Plans China Expansion
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Citi Plans China Expansion
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Business and finance news from the Asia-Pacific
Nvidia shares fell as the broader tech sector rallied, with investors weighing the fallout from CEO Jensen Huang's affair with a woman suspected of working for Chinese intelligence. For more on what the controversy could mean for markets, Bloomberg TV Host Heidi Stroud-Watts spoke with Floodlines Research Founder Anna Wu.
Also, Citigroup is expanding its presence in China after winning approval for its wholly owned securities venture. The bank plans to hire about 100 bankers over the next several years, with Citi Global Corporate Banking Co-Head Kaleem Rizvi saying China remains too big for companies to ignore.
Citi CEO Jane Fraser is also in China, where she told Bloomberg the country remains one of the biggest strategic opportunities in financial services. Bloomberg's Stephen Engle spoke with Fraser about Citi's expansion, the outlook for China, the AI investment boom and the risks facing the global economy.
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