Citigroup sees global profits shrinking 5% in aftermath of banking turmoil

Citigroup sees global profits shrinking 5% in aftermath of banking turmoil

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Citigroup equity strategists flagged a likely 5% contraction in global profits this year as turmoil in the banking sector raises the risk of a recession. Financial markets have had a turbulent few weeks after the collapse of some mid-sized U.S. lenders and a Swiss-backed takeover of Credit Suisse…

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