<o:p></o:p>

Citigroup, one of the major players in the US banking sector, is pushing back against a lawsuit brought by New York Attorney General Letitia James, who accuses its Citibank unit of neglecting to reimburse customers who have fallen prey to online scammers. <o:p></o:p>

According to a report by Reuters, Citigroup argued that the lawsuit is "misguided" and should be dismissed, citing specific legal standards and industry practices.<o:p></o:p>

Responding to the lawsuit, Citigroup said that it was faithful towards combating online wire fraud while questioning the legal grounds of the case. <o:p></o:p>

Reuters reported that Citigroup contended the lawsuit is based on a misinterpretation of federal laws governing electronic fund transfers, which explicitly excluded wire transfers from liability. <o:p></o:p>

The bank argued that it adheres to the Uniform Commercial Code, a standard adopted across all US states, which clears banks from reimbursing losses if they have implemented commercially reasonable security measures to verify customer identities. <o:p></o:p>

Citigroup said that it had taken such measures to prevent numerous fraudulent transactions daily.<o:p></o:p>

While they&nbsp; acknowledged the severity of online fraud, Citigroup said that lawsuits like this could disrupt established banking policies and practices. <o:p></o:p>

According to Reuters, the bank contends that no system can prevent every scam, and legal action is not the appropriate solution. <o:p></o:p>

However, Attorney General Letitia James alleges that Citibank's security systems failed to detect the red flags indicating potential scams, leading to financial losses for customers. <o:p></o:p>

These failures include instances where customers lost huge sums, such as one case where a customer lost $40,000 of retirement savings after clicking a link in a fraudulent text message posing as Citibank.<o:p></o:p>

James seeks substantial remedies from Citibank, including compensation for defrauded customers, civil fines of $5,000 per violation, and the appointment of an independent monitor to review bank records and assist in identifying victims. <o:p></o:p>

According to Reuters, the attorney general accuses Citibank of pressuring victims into signing affidavits that limit their ability to recover losses, only to reject their reimbursement claims later.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Citigroup, one of the major players in the US banking sector, is pushing back against a lawsuit brought by New York Attorney General Letitia James, who accuses its Citibank unit of neglecting to reimburse customers who have fallen prey to online scammers.

Citigroup, one of the major players in the US banking sector, is pushing back against a lawsuit brought by New York Attorney General Letitia James, who accuses its Citibank unit of neglecting to reimburse customers who have fallen prey to online scammers. According to a report by Reuters, Citigroup argued that the lawsuit is "misguided" and should be dismissed, citing specific legal standards and industry practices. Responding to the lawsuit, Citigroup said that it was faithful towards combating online wire fraud while questioning the legal grounds of the case. Reuters reported that Citigroup contended the lawsuit is based on a misinterpretation of federal laws governing electronic fund transfers, which explicitly excluded wire transfers from liability. The bank argued that it adheres to the Uniform Commercial Code, a standard adopted across all US states, which clears banks from reimbursing losses if they have implemented commercially reasonable security measures to verify customer identities. Citigroup said that it had taken such measures to prevent numerous fraudulent transactions daily. While they acknowledged the severity of online fraud, Citigroup said that lawsuits like this could disrupt established banking policies and practices. According to Reuters, the bank contends that no system can prevent every scam, and legal action is not the appropriate solution. However, Attorney General Letitia James alleges that Citibank's security systems failed to detect the red flags indicating potential scams, leading to financial losses for customers. These failures include instances where customers lost huge sums, such as one case where a customer lost $40,000 of retirement savings after clicking a link in a fraudulent text message posing as Citibank. James seeks substantial remedies from Citibank, including compensation for defrauded customers, civil fines of $5,000 per violation, and the appointment of an independent monitor to review bank records and assist in identifying victims. According to Reuters, the attorney general accuses Citibank of pressuring victims into signing affidavits that limit their ability to recover losses, only to reject their reimbursement claims later. (With inputs from Reuters)

Citigroup challenges New York lawsuit over fraud scams: Report

Citigroup says India’s cut to cooking gas cost might help slow inflation and shift attention to lowering the price of petrol and diesel ahead of certain important festivals and critical elections. Economists at Citibank, in a research note, said the government's plan to cut the price of cooking gas might ease inflation by roughly 30 basis points. Citibank economists suggested that more fiscal measures need to be discussed to reduce inflation and boost rural incomes. The economists noted that excise tax cuts are a possible solution to the high cost of fuel and getting inflation under control.

Citibank predicts relief: Cooking gas price cut to tackle inflation

Citibank, one of India's oldest foreign lenders&nbsp;has taken down its signboard from its landmark Kanak Building office on Kolkata's Chowringhee road, as&nbsp;part of a rebranding effort following the sale of its consumer business to&nbsp;Axis Bank in 2021, reported Moneycontrol.&nbsp;

A Citibank representative who requested anonymity in order to discuss internal matters with Moneycontrol said the rebranding process had started. The merger will take place as of March 1, 2023, under the terms of the agreement.

“The existing Citi signboard at the Kanak Building office will be replaced by both Citi and Axis branding. But in some branches, they have completely replaced Citi with Axis Bank,’’ said the Citi official.

In reply to a query from Moneycontrol, Citibank stated that the signage change is a logical step in the already established process of transitioning our consumer banking locations to Axis.

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Citibank and GM, both american - could not compete with the new gen competitors! 
 
What went wrong, would make a lovely case study(ies)! 
 
Do not believe in the BS talk of Citi's management that they are withdrawing from a market where per capita incomes are rising! <a href="https://t.co/0Ffk1wxan7">https://t.co/0Ffk1wxan7</a>
— Vijayanand Venkataraman, CFA (@vijayvenkatram) <a href="https://twitter.com/vijayvenkatram/status/1629803381803061248?ref_src=twsrc%5Etfw">February 26, 2023</a></blockquote>
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"There is no change or impact to services at any of our branches because of this change; also, customers have been informed well in advance," Citi bank's representative told Moneycontrol.

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/iit-bombay-alumni-develop-smartphone-based-health-kit-that-gives-results-in-30-seconds-report-566053">IIT Bombay alumni develop smartphone-based health test kit that gives results in 30 seconds: Report&nbsp;</a>

The Citibank official&nbsp;also stated that both banks are fully&nbsp;committed to ensuring that clients have a smooth transition and that they had&nbsp;informed them of this in&nbsp;prior communications.

Credit cards, retail banking, wealth management, and consumer loans are all included in Citi's agreement with Axis Bank for the sale of its consumer banking division, according to Citigroup.

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The transaction also entails the sale of Citicorp Finance (India) Limited's consumer business, which includes the portfolio of personal loans as well as commercial vehicle and construction equipment loans.

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Citibank, one of India's oldest foreign lenders has taken down its signboard from its landmark Kanak Building office on Kolkata's Chowringhee road, as part of a rebranding effort following the sale of its consumer business to Axis Bank in 2021, reported Moneycontrol.

Citibank, one of India's oldest foreign lenders has taken down its signboard from its landmark Kanak Building office on Kolkata's Chowringhee road, as part of a rebranding effort following the sale of its consumer business to Axis Bank in 2021, reported Moneycontrol. A Citibank representative who requested anonymity in order to discuss internal matters with Moneycontrol said the rebranding process had started. The merger will take place as of March 1, 2023, under the terms of the agreement. “The existing Citi signboard at the Kanak Building office will be replaced by both Citi and Axis branding. But in some branches, they have completely replaced Citi with Axis Bank,’’ said the Citi official. In reply to a query from Moneycontrol, Citibank stated that the signage change is a logical step in the already established process of transitioning our consumer banking locations to Axis. Disclaimer: WION cannot independently verify the authenticity of photos and videos shared on social media. Citibank and GM, both american - could not compete with the new gen competitors! What went wrong, would make a lovely case study(ies)! Do not believe in the BS talk of Citi's management that they are withdrawing from a market where per capita incomes are rising! https://t.co/0Ffk1wxan7 — Vijayanand Venkataraman, CFA (@vijayvenkatram) February 26, 2023 × "There is no change or impact to services at any of our branches because of this change; also, customers have been informed well in advance," Citi bank's representative told Moneycontrol. ALSO READ | IIT Bombay alumni develop smartphone-based health test kit that gives results in 30 seconds: Report The Citibank official also stated that both banks are fully committed to ensuring that clients have a smooth transition and that they had informed them of this in prior communications. Credit cards, retail banking, wealth management, and consumer loans are all included in Citi's agreement with Axis Bank for the sale of its consumer banking division, according to Citigroup. ALSO READ | After staff, Google now lays off over 100 robots that cleaned cafeterias: Report The transaction also entails the sale of Citicorp Finance (India) Limited's consumer business, which includes the portfolio of personal loans as well as commercial vehicle and construction equipment loans. WATCH WION LIVE HERE:

Citibank removes signboard from landmark Kolkata office after 121 years as part of rebranding

According to new projections from Citibank, inflation in the United Kingdom is on track to exceed 18% in January 2023, while the retail prices index inflation rate would soar to 21%.

Citibank predicts 18.6% inflation for UK in January 2023

The multinational investment bank headquartered in New York on Thursday announced strategic actions in the global consumer banking segment as part of an ongoing strategic review

Citibank to exit retail banking in India

A federal judge on Tuesday said Citigroup Inc is not entitled to half a billion dollars of its own money that it mistakenly wired in what he called "a banking error of perhaps unprecedented nature and magnitude."

U.S. District Judge Jesse Furman in Manhattan said August&nbsp;11, 2020, wire transfers to lenders of cosmetics maker Revlon Inc at issue were "final and complete transactions, not subject to revocation."

A spokeswoman for Citigroup said the bank strongly disagrees with this decision and intends to appeal.

"We believe we are entitled to the funds and will continue to pursue a complete recovery of them," the bank said.

The case stemmed from an incident where Citigroup, acting as Revlon`s loan agent, wired $893 million to Revlon`s lenders, appearing to pay off a loan not due until 2023.

Citigroup had intended to send a $7.8 million interest payment and blamed human error for the gaffe.

Some lenders returned the money they were sent, but 10 asset managers including Brigade Capital Management, HPS Investment Partners and Symphony Asset Management refused, prompting Citigroup`s lawsuit to recoup the estimated $501 million they received.

Citigroup had argued that the lenders should return the money because they knew or should have known it made a mistake and that Revlon could not afford the payment.

But in a 101-page decision, following a six-day trial in December, Furman noted that the transfers matched "to the penny" what the lenders were owed, and said it appeared there had never been a mistake of this size before.

"The non-returning lenders believed, and were justified in believing, that the payments were intentional," Furman wrote. "To believe otherwise - to believe that Citibank, one of the most sophisticated financial institutions in the world, had made a mistake that had never happened before, to the tune of nearly $1 billion - would have been borderline irrational."

Lawyers for both parties did not immediately respond to requests for comment.

Administrative agents typically distribute interest payments and perform back-office services for clients such as Revlon.

Industry groups have said a ruling against Citigroup could expose banks to excessive liability risks.

A federal judge on Tuesday said Citigroup Inc is not entitled to half a billion dollars of its own money that it mistakenly wired in what he called "a banking error of perhaps unprecedented nature and magnitude.

A federal judge on Tuesday said Citigroup Inc is not entitled to half a billion dollars of its own money that it mistakenly wired in what he called "a banking error of perhaps unprecedented nature and magnitude." U.S. District Judge Jesse Furman in Manhattan said August 11, 2020, wire transfers to lenders of cosmetics maker Revlon Inc at issue were "final and complete transactions, not subject to revocation." A spokeswoman for Citigroup said the bank strongly disagrees with this decision and intends to appeal. "We believe we are entitled to the funds and will continue to pursue a complete recovery of them," the bank said. The case stemmed from an incident where Citigroup, acting as Revlon`s loan agent, wired $893 million to Revlon`s lenders, appearing to pay off a loan not due until 2023. Citigroup had intended to send a $7.8 million interest payment and blamed human error for the gaffe. Some lenders returned the money they were sent, but 10 asset managers including Brigade Capital Management, HPS Investment Partners and Symphony Asset Management refused, prompting Citigroup`s lawsuit to recoup the estimated $501 million they received. Citigroup had argued that the lenders should return the money because they knew or should have known it made a mistake and that Revlon could not afford the payment. But in a 101-page decision, following a six-day trial in December, Furman noted that the transfers matched "to the penny" what the lenders were owed, and said it appeared there had never been a mistake of this size before. "The non-returning lenders believed, and were justified in believing, that the payments were intentional," Furman wrote. "To believe otherwise - to believe that Citibank, one of the most sophisticated financial institutions in the world, had made a mistake that had never happened before, to the tune of nearly $1 billion - would have been borderline irrational." Lawyers for both parties did not immediately respond to requests for comment. Administrative agents typically distribute interest payments and perform back-office services for clients such as Revlon. Industry groups have said a ruling against Citigroup could expose banks to excessive liability risks.

Biggest blunder in banking history: Citibank can't get back $500 million it accidentally wired to ten companies, says US judge

According to reports, as many as 10,000 Citibank employees may lose jobs in the next five years as the company braces up to introduce automation and replace workers with robots.&nbsp;

Jamie Forese, Citibank's chief executive officer, Institutional Clients Group, notes that the company's technological and operational positions are most apt for mechanical processing.

Forese told the Financial Times that the company would slash up to half of its operational positions, however, it would continue to hire people for sales and research roles.&nbsp;

This is not the first time when an incident of robots and machines replacing manpower has surfaced, a Boston restaurant has already replaced staff with robots to serve&nbsp;nutritious, affordable meals.&nbsp;

A group of engineers from Massachusetts Institute of Technology (MIT) collaborated with Michelin-starred chef Daniel Boulud to bring to reality a one-of-a-kind restaurant that has replaced human staff with robots.&nbsp;

The co-founders note that as students they struggled to find decent meals at affordable prices. As robotics enthusiasts, they decided to work for creating meals that are cooked efficiently, quick to put together and affordable.&nbsp;

Robotics and technological innovations are set to eat up jobs in the coming future, as many as 800 million jobs in the coming decade, experts speculate.&nbsp;

This is not the first time when an incident of robots and machines replacing manpower has surfaced

According to reports, as many as 10,000 Citibank employees may lose jobs in the next five years as the company braces up to introduce automation and replace workers with robots. Jamie Forese, Citibank's chief executive officer, Institutional Clients Group, notes that the company's technological and operational positions are most apt for mechanical processing. Forese told the Financial Times that the company would slash up to half of its operational positions, however, it would continue to hire people for sales and research roles. This is not the first time when an incident of robots and machines replacing manpower has surfaced, a Boston restaurant has already replaced staff with robots to serve nutritious, affordable meals. A group of engineers from Massachusetts Institute of Technology (MIT) collaborated with Michelin-starred chef Daniel Boulud to bring to reality a one-of-a-kind restaurant that has replaced human staff with robots. The co-founders note that as students they struggled to find decent meals at affordable prices. As robotics enthusiasts, they decided to work for creating meals that are cooked efficiently, quick to put together and affordable. Robotics and technological innovations are set to eat up jobs in the coming future, as many as 800 million jobs in the coming decade, experts speculate.

Nearly 10,000 Citibank employees to lose jobs as bank plans to introduce robots

Pakistan has contracted another foreign commercial loan of USD 500 million from the Industrial and Commercial Bank of China (ICBC) to shore up its depleting reserves.

The Express Tribune reported that the with new borrowing the Chinese financial institution&#39;s contribution to supporting a strong rupee against the US dollar increased to USD 1 billion in just three months.

It further reported quoting sources in the finance ministry that the government contracted the loan on January 15 at a rate in the range of 4.5 per cent.

In January, the country took a total of USD 704 million worth of new loans, taking foreign borrowings to USD 6.6 billion in just seven months of this fiscal year, sources said.

The foreign loans were equal to 86 per cent of the annual budgetary estimates that parliament had approved in June last year. This suggests that foreign loans for the second consecutive year may cross USD 10 billion.

China was the single largest lender that gave a total of USD 1.6 billion, which was equal to one-fourth of the total foreign loans Pakistan has received in the last seven months.

Beijing also gave roughly USD 610 million for project financing during the first seven months.

In terms of source, sovereign bonds were the single largest source after Islamabad raised USD 2.5 billion in November, which contributed roughly 38 per cent to total foreign loans.

It was the second loan that the ICBC has given to Pakistan to support its diminishing foreign currency reserves, which are largely used to defend a strong rupee and finance the trade deficit. The ICBC had also given USD 500 million in October last year.

Sources in the State Bank of Pakistan said that it was still intervening in the exchange market to keep the dollar-rupee parity at a current level.

In December, the central bank let the rupee depreciate by 5.2 per cent against the US dollar. But it was still far less than the International Monetary Fund&#39;s assessment of the real value of the rupee.

With fresh foreign loans, the total foreign commercial borrowings in the first seven months of this fiscal year have increased to USD 1.8 billion, said the sources. The finance ministry had informed parliament in June last year that it

would obtain USD 1 billion as commercial loans during 2017-18 that will end on June 30. However, it has already breached the limit with five months remaining.

So far, Citibank has given USD 267 million, Credit Suisse AG loaned USD 255 million, Standard Chartered Bank London USD 200 million and Dubai Bank USD 55.9 million. The share of foreign commercial banks in total loans stood at 27 per cent.

The loans are obtained to stop the downward slide of the official foreign currency reserves that currently stand at USD 12.8 billion even after issuing USD 2.5 billion worth of sovereign bonds in November.

The ministry is trying in vain to stop the reserves from slipping below the two-and-a-half-month import bill cover, which at current value of the import bill stands at USD 12.3 billion.

Official foreign currency reserves have depleted by USD 3.5 billion since July. The current account deficit during the first half of the fiscal year widened to over USD 7.5 billion.

Pakistan&#39;s total external debt and liabilities as of December 2017 stood at USD 88.9 billion, higher by USD 5.8 billion or 6.9 per cent over six months ago.

The main increase came by issuing sovereign bonds and taking expensive commercial loans. In the first half, debt obligated by issuing NSukuk and Eurobonds increased by 52 per cent to USD 7.3 billion.&nbsp;

The Express Tribune reported that the with new borrowing the Chinese financial institution's contribution to supporting a strong rupee against the US dollar increased to USD 1 billion in just three months

Pakistan has contracted another foreign commercial loan of USD 500 million from the Industrial and Commercial Bank of China (ICBC) to shore up its depleting reserves. The Express Tribune reported that the with new borrowing the Chinese financial institution's contribution to supporting a strong rupee against the US dollar increased to USD 1 billion in just three months. It further reported quoting sources in the finance ministry that the government contracted the loan on January 15 at a rate in the range of 4.5 per cent. In January, the country took a total of USD 704 million worth of new loans, taking foreign borrowings to USD 6.6 billion in just seven months of this fiscal year, sources said. The foreign loans were equal to 86 per cent of the annual budgetary estimates that parliament had approved in June last year. This suggests that foreign loans for the second consecutive year may cross USD 10 billion. China was the single largest lender that gave a total of USD 1.6 billion, which was equal to one-fourth of the total foreign loans Pakistan has received in the last seven months. Beijing also gave roughly USD 610 million for project financing during the first seven months. In terms of source, sovereign bonds were the single largest source after Islamabad raised USD 2.5 billion in November, which contributed roughly 38 per cent to total foreign loans. It was the second loan that the ICBC has given to Pakistan to support its diminishing foreign currency reserves, which are largely used to defend a strong rupee and finance the trade deficit. The ICBC had also given USD 500 million in October last year. Sources in the State Bank of Pakistan said that it was still intervening in the exchange market to keep the dollar-rupee parity at a current level. In December, the central bank let the rupee depreciate by 5.2 per cent against the US dollar. But it was still far less than the International Monetary Fund's assessment of the real value of the rupee. With fresh foreign loans, the total foreign commercial borrowings in the first seven months of this fiscal year have increased to USD 1.8 billion, said the sources. The finance ministry had informed parliament in June last year that it would obtain USD 1 billion as commercial loans during 2017-18 that will end on June 30. However, it has already breached the limit with five months remaining. So far, Citibank has given USD 267 million, Credit Suisse AG loaned USD 255 million, Standard Chartered Bank London USD 200 million and Dubai Bank USD 55.9 million. The share of foreign commercial banks in total loans stood at 27 per cent. The loans are obtained to stop the downward slide of the official foreign currency reserves that currently stand at USD 12.8 billion even after issuing USD 2.5 billion worth of sovereign bonds in November. The ministry is trying in vain to stop the reserves from slipping below the two-and-a-half-month import bill cover, which at current value of the import bill stands at USD 12.3 billion. Official foreign currency reserves have depleted by USD 3.5 billion since July. The current account deficit during the first half of the fiscal year widened to over USD 7.5 billion. Pakistan's total external debt and liabilities as of December 2017 stood at USD 88.9 billion, higher by USD 5.8 billion or 6.9 per cent over six months ago. The main increase came by issuing sovereign bonds and taking expensive commercial loans. In the first half, debt obligated by issuing NSukuk and Eurobonds increased by 52 per cent to USD 7.3 billion.

Pakistan borrows $ 500 million from China

Citibank plans to close the account Venezuela uses to make international payments, President Nicolas Maduro said on Monday, accusing the US-based bank of a &quot;financial blockade&quot;. 
 
&quot;Citibank, with no warning or communication, says that it is going to close the Central Bank and Bank Of Venezuela account. That is what you call a financial blockade,&quot; the embattled president said in televised remarks. 
 
He said the move amounted to an &quot;inquisition&quot; by US President Barack Obama&#39;s administration.&nbsp;Maduro said his South American nation, a major oil producer, uses the account to make payments &quot;within 24 hours, to other accounts in the United States and worldwide&quot;. 
 
Maduro&#39;s socialist government has often claimed that US &quot;right wing&quot; interests and local business elites were trying to blockade his state-led economy and prevent Venezuela&#39;s access to international credit. 
 
&quot;Do you think they are going to stop us by putting in place a financial blockade? No, ladies and gentlemen, nobody stops Venezuela. With Citibank or without it, we are moving forward. With Kimberly or without, we are moving.&quot; 
 
Venezuela&#39;s government said just hours earlier that it would take over operations at facilities where US consumer goods giant Kimberly-Clark just shut down, citing unworkable economic conditions.&nbsp;The American company announced on Saturday it would cease production, saying that it was impossible to get enough hard currency to buy raw materials, and that inflation was surging. 
 
&quot;We are going to sign, at the workers&#39; request... to authorise immediate occupation of the workplace known as Kimberly-Clark de Venezuela... by its workers,&quot; Labor Minister Oswaldo Vera said at the facility&#39;s plant in the central city of Maracay. 
 
The country&#39;s economy has been hard hit by the plunging value of its main export, oil. Analysts also criticise its state-led economy of gross mismanagement leading to shortages of toilet paper, diapers and food. 
 
Vera signed the document to loud cheers and&nbsp;he said machines would be back in operation within hours.&nbsp;In a sign of Maduro&#39;s concern at mounting social unrest, the president on Thursday replaced the head of the National Guard.&nbsp; 
 
The Venezuelan opposition launched efforts to remove the president after winning control of the legislature in January.&nbsp;But Maduro has challenged his rivals through the Supreme Court, which they accuse him of controlling. 
 
(AFP)

He accuses the US-based bank of a 'financial blockade', says the move amounts to an 'inquisition' by the Obama administration

Citibank plans to close the account Venezuela uses to make international payments, President Nicolas Maduro said on Monday, accusing the US-based bank of a "financial blockade". "Citibank, with no warning or communication, says that it is going to close the Central Bank and Bank Of Venezuela account. That is what you call a financial blockade," the embattled president said in televised remarks. He said the move amounted to an "inquisition" by US President Barack Obama's administration. Maduro said his South American nation, a major oil producer, uses the account to make payments "within 24 hours, to other accounts in the United States and worldwide". Maduro's socialist government has often claimed that US "right wing" interests and local business elites were trying to blockade his state-led economy and prevent Venezuela's access to international credit. "Do you think they are going to stop us by putting in place a financial blockade? No, ladies and gentlemen, nobody stops Venezuela. With Citibank or without it, we are moving forward. With Kimberly or without, we are moving." Venezuela's government said just hours earlier that it would take over operations at facilities where US consumer goods giant Kimberly-Clark just shut down, citing unworkable economic conditions. The American company announced on Saturday it would cease production, saying that it was impossible to get enough hard currency to buy raw materials, and that inflation was surging. "We are going to sign, at the workers' request... to authorise immediate occupation of the workplace known as Kimberly-Clark de Venezuela... by its workers," Labor Minister Oswaldo Vera said at the facility's plant in the central city of Maracay. The country's economy has been hard hit by the plunging value of its main export, oil. Analysts also criticise its state-led economy of gross mismanagement leading to shortages of toilet paper, diapers and food. Vera signed the document to loud cheers and he said machines would be back in operation within hours. In a sign of Maduro's concern at mounting social unrest, the president on Thursday replaced the head of the National Guard. The Venezuelan opposition launched efforts to remove the president after winning control of the legislature in January. But Maduro has challenged his rivals through the Supreme Court, which they accuse him of controlling. (AFP)

Venezuela President: Citibank planning to close account used to make international payments

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