Wall Street: Wednesday Morning

cityfile · 04/29/09 05:29AM

• At least six of the 19 largest U.S. banks will require additional capital, according to the results of the stress tests conducted by regulators. [BN]
• The U.S. economy took a tumble in the first quarter, with gross domestic product dropping at a 6.1 percent annual rate. [BN, WSJ]
• Citigroup has asked the Treasury department for permission to pay bonuses to a number of key employees. No word on how much or to whom. [WSJ]
• Meanwhile, Citi is looking to raise additional capital now that the bank came up short on its recent stress test. [DB]
• Daniel Bouton, the chairman of Societe General, is stepping down. [WSJ]
• Lazard posted a first quarter loss, and says it plans to cut jobs. [Reuters]
• Neel Kashkari's last day at work is Friday. Don't forget to send a gift! [DB]