• Citigroup posted its first profit in 18 months today, which made Wall Street very happy and sent Citi shares up to a whopping $4. [WSJ, DB]
• GE's first-quarter profit fell less than expected, dropping 35% compared to a year earlier, results that gave shares a boost in early trading. [BN, WSJ]
• AIG chief Ed Liddy…
With the economy in a tailspin, there aren't quite as many "whales" heading out to Teterboro to catch complimentary flights to Las Vegas. Why bother losing all your money at the poker and blackjack tables when you can do the same thing in front of your Bloomberg terminal in your Midtown office? We're guessing this…
♦ Things may be about to get worse at Citigroup: The Times reports that the bank may be forced to lay off another 25 percent of its workforce as it deals with continued losses, a plunging stock price, and a lack of investor confidence. [NYT]
♦ In a show of faith, Citi CEO Vikram Pandit and three deputies bought a…
