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Washington also has traded tariffs with the European Union, Canada and Mexico. “When CBO completed this economic forecast in early July, the agency estimated that the macroeconomic consequences of the U.S. tariffs and foreign retaliatory tariffs that had been implemented at that time would be small,” said Hall. Tariffs then “affected goods that accounted for less than 1.5 percent of the total value of U.S. trade. However, trade policy has already changed since early July and may continue to evolve, so the effects of new tariffs may become more substantial and have a larger effect on the economy than CBO accounted for in its current projections.”.

NEW YORK (Reuters) - Citigroup Inc restructured its consumer bank on Monday, elevating one executive and triggering the departure of another, as the third-biggest U.S, bank moved to improve results, The changes will “harmonize” Citigroup’s consumer business with operating models of units in Asia and Mexico that have produced memphis tigers cufflinks better results, Stephen Bird, chief executive of Citigroup’s global consumer banking business, said in a memo seen by Reuters, With the new structure, Jud Linville, who had been head of global cards and consumer services and a member of Citigroup’s operating committee, will leave and David Chubak will become head of retail banking and consumer lending globally, overseeing products, strategies and investments..

Some of those responsibilities in cards had previously been handled by Linville. Anand Selva, the current head of consumer banking in Asia, will become head the regional head for North America. Selva has been with Citigroup for 26 years, during which time he has overseen consumer business in 17 countries and advanced digital offerings, Bird said. The moves come as Citigroup is trying to improve performance of its card business and reconnect with U.S. consumers, despite having few branches, through a new mobile app and partnerships with ATM providers.

Citi-branded cards in the United States are an area of particular concern memphis tigers cufflinks to Wall Street, Executives had targeted 3 percent annualized revenue growth from branded cards when the company set profit goals for 2020 at an Investor Day conference in July 2017, But early this year Chief Financial Officer John Gerspach reduced that goal to 2 percent, “U.S, Cards has consistently missed our expectations, so we believe change could be a positive longer term,” KBW analysts said in a report on Monday..

Citigroup expects to get a bump in branded-card income as promotions that offered customers little or no interest for a fixed time come to an end. Nearly half of those accounts have been converting to paying full rates, Gerspach has said. Linville, 60, had been at Citigroup for eight years, and received credit for streamlining the company’s roster of card offerings. But stiff competition for premium card customers from rivals like JPMorgan Chase & Co have weighed on results. He declined to comment on his departure.

WASHINGTON (Reuters) - Tesla Inc’s (TSLA.O) handling of Chief Executive Elon Musk’s proposal to take the carmaker private and its failure to promptly file a formal disclosure has raised governance concerns and sparked questions about how companies use social media, Musk stunned investors last Tuesday by announcing on Twitter that he was considering taking Tesla private in a potential $72 billion transaction and that “funding” had been “secured.”, Tesla’s memphis tigers cufflinks shares closed up 11 percent before retrenching after the Wall Street Journal reported that the U.S, Securities and Exchange Commission (SEC) had asked Tesla why Musk announced his plans on Twitter and whether his statement was truthful..

Musk provided no details of his funding until Monday, when he said in a blog on Tesla’s website that he was in discussions with Saudi Arabia’s sovereign wealth fund and other potential backers but that financing was not yet nailed down. Musk said his Tweet and blogs were issued in his personal capacity as a private bidder for Tesla’s stock. A Tesla spokesman pointed Reuters to Musk’s blog in response to a request for comment. Putting aside whether Musk misled anyone, the unorthodox manner in which he announced the news and Tesla’s failure to promptly clarify the situation with a regulatory filing is a corporate governance lapse that raises questions about how companies use social media to release market-moving news, securities lawyers said.

“Management buyouts or other take-private transactions already suffer from serious information asymmetry between management and public shareholders,” said Gabriel Rauterberg, a University of Michigan law professor, SEC rules typically require companies to file an 8-K form within four business days of a significant corporate event, While several securities lawyers said Musk’s tweets alone did not trigger this obligation, such a filing would be prudent memphis tigers cufflinks given the unusual circumstances, David Axelrod, a partner at law firm Ballard Spahr LLP, said..

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