By , (Reuters) - Citigroup Inc on Tuesday posted a 73% plunge in quarterly profit, as the bank set aside nearly $8 billion to brace itself for a potential surge in loan defaults stemming from the COVID-19 pandemic.The largest U.S. banks have so far stashed away more than $52 billion to prepare for possible losses this year as the economy heads into one of its worst recessions in decades.Shares of the lender were down about 2% in morning trade.Citi was forced to build reserves of $5.6 billion during the quarter, which also saw rival JPMorgan set aside record loan loss provisions to weather...…By , (Reuters) - Citigroup Inc on Tuesday posted a 73% plunge in quarterly profit, as the bank set aside nearly $8 billion to brace itself for a potential surge in loan defaults stemming from the COVID-19 pandemic.The largest U.S. banks have so far stashed away more than $52 billion to prepare for possible losses this year as the economy heads into one of its worst recessions in decades.Shares of the lender were down about 2% in morning trade.Citi was forced to build reserves of $5.6 billion during the quarter, which also saw rival JPMorgan set aside record loan loss provisions to weather...WW…

By , (Reuters) - Robinhood Markets Inc, the fintech startup that introduced millions of millennials to equities, options and crypto trading, greets visitors to its website with the motto, “It’s Time to Do Money.”But on Monday, many of the firm’s 10 million users found it difficult to “Do Money” in a timely way after the third outage of Robinhood’s trading platform in a week amid an extended spike in market volatility over coronavirus concerns.“So much for trying to invest for the first time. Thanks for ruining my taste of it lol,” said one user on Robinhood’s Twitter help feed.The Menlo...…By , (Reuters) - Robinhood Markets Inc, the fintech startup that introduced millions of millennials to equities, options and crypto trading, greets visitors to its website with the motto, “It’s Time to Do Money.”But on Monday, many of the firm’s 10 million users found it difficult to “Do Money” in a timely way after the third outage of Robinhood’s trading platform in a week amid an extended spike in market volatility over coronavirus concerns.“So much for trying to invest for the first time. Thanks for ruining my taste of it lol,” said one user on Robinhood’s Twitter help feed.The Menlo...WW…

By , (Reuters) - Shares of Unity Software Inc soared in their debut on the New York Stock Exchange on Friday, giving the gaming platform a market value of around $18 billion and signaling sustained demand for new stocks.The Silicon Valley startup’s stock, which debuted on the New York Stock Exchange at $75 per share, closed at $68.35, well above the $52 per share in its initial public offering on Thursday.“Going public is good for discipline. We can also compensate our employees with more transparency,” said Unity Chief Executive John Riccitiello. “We picked the date earlier this year, and...…By , (Reuters) - Shares of Unity Software Inc soared in their debut on the New York Stock Exchange on Friday, giving the gaming platform a market value of around $18 billion and signaling sustained demand for new stocks.The Silicon Valley startup’s stock, which debuted on the New York Stock Exchange at $75 per share, closed at $68.35, well above the $52 per share in its initial public offering on Thursday.“Going public is good for discipline. We can also compensate our employees with more transparency,” said Unity Chief Executive John Riccitiello. “We picked the date earlier this year, and...WW…