Monday, February 23, 2009

British jobs to be supported by American taxpayer


American taxpayers could soon own 40 per cent of what was once the country's most valuable bank.

Citigroup Inc is in talks that could see the U.S. government boost its ownership stake to 40 per cent, according to media reports.

The bank employs some 11,000 people in the UK.

The news came as governments and financial firms in Japan, France and elsewhere announced fresh capital raising today.

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