PRESS DIGEST- Financial Times - Jan 17
Jan 17 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Citigroup misses earnings estimates
Goldman earnings fall on fixed income slide
Carlyle joins M&A flurry with J&J unit purchase
Best Buy's holiday sales disappoint
Intel profit rise falls short of forecasts
US watchdog plans tougher bank risk rules
Citigroup Inc, the third-largest U.S. bank by assets, posted quarterly results lower than analysts' expectations on Thursday, as lackluster mortgage banking and fixed-income trading weighed on overall revenue.
Goldman Sachs Group Inc reported a 21 percent drop in quarterly net income on Thursday with its worst year for fixed income trading since 2005.
Buyout firm Carlyle Group agreed to buy Johnson & Johnson's ortho clinical diagnostics unit for $4.15 billion on Thursday, joining the host of companies making acquisitions as the new year gets under way.
Best Buy Co shares tumbled about 30 percent on Thursday after the world's largest consumer electronics chain reported disappointing holiday sales, hurt by heavy discounting by its rivals.
Intel Corp's profits narrowly missed expectations in the fourth quarter, sending its shares down almost 3 percent after-hours with the slide in global PC sales showing signs of slowing.
Big U.S. banks would have to follow tougher standards for risk management and face quicker punishment under new rules proposed by The Office of the Comptroller of the Currency (OCC) on Thursday to help avoid a repeat of the 2007-2009 financial crisis.