Goldman’s Waldron Warns of Unprecedented Economic Shocks, Echoing Dimon

Reuters

Delighted Citigroup chief calls Buffett’s investment ‘wonderful’

The timing of Warren Buffett’s recent investment in Citigroup Inc was not known in advance by the U.S. lender, Chief Executive Jane Fraser said on Tuesday. Fraser, speaking to reporters in Frankfurt during a trip to Europe, also said the bank didn’t yet know whether it would keep its bank licenses in Russia, where it has been shrinking operations after the country sent troops into Ukraine. Earlier this month Buffett’s Berkshire Hathaway Inc made a new $3 billion bet on Citi, lifting its shares and boosting confidence in the battered Wall Street lender’s stock.