Amazon Inc. is planning to take over some of Citigroup Inc.’s office space in Singapore at a time when a number of the e-commerce giant’s Chinese tech rivals expand in the city state.

Citigroup will spend $1 billion over the next three years on efforts to help close the racial wealth gap as it seeks to become an “antiracist institution.”

Jane Fraser, who is poised to become the first woman to lead a major U.S. bank, possesses turnaround experience and strong interpersonal skills that make her well suited for mending fences with regulators and investors, according to present and former colleagues.

Citigroup is embarking on hiring 6,000 young people in Asia over the next three years in an effort to help cushion the region from a blowout in youth unemployment.

Jason Gelinas, an employee at Citigroup, has been placed on paid leave pending an internal investigation after he was identified as the operator of the most prominent website dedicated to the QAnon conspiracy theory, according to three people familiar with the matter.

Led by HSBC, European banks account for the largest share of the announced reductions, according to a Bloomberg analysis.

The two biggest U.S. banks trimmed expectations for net interest income as low rates and tepid loan growth weigh on revenue.

The reductions will affect less than 1% of Citi's global workforce, and with recent hiring the overall headcount probably won’t decline, the company said.

Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment.

Citi has teamed with home furnishings giant Wayfair on a pair of credit cards—one cobranded with Mastercard and a private label version—capitalizing on the pandemic-accelerated e-commerce boom.