Breaking

Citi, U.S. Near Agreement

Citigroup is close to a deal with the U.S. government to isolate the troubled financial firm's risky assets. While the Wall Street Journal cautions the situation is "fluid," the agreement would create a "bad bank"-holding as much as $50 billion in assets-that would ease the bank's balance sheet. Last week, Citi's stock dropped 60% to a 16-year low.