China Rejects Stake in Citigroup
RENEE MONTAGNE, host:
NPR's Business News starts with China rejecting a stake in Citigroup.
China's government is rejecting one of its bank's plans to invest billions of dollars in the U.S. financial giant Citigroup. That's according to today's Wall Street Journal. China and other Asian and Middle Eastern governments have been investing heavily in U.S. companies.
It's sparked concern in the U.S., and apparently China's government is also having second thoughts about where its money is going. Its move comes as Citigroup is expected to announce that it's cutting more than 20,000 jobs.