The majority of the layoffs stem from redundancies following the Nokia acquisition while Microsoft looks to streamline operations, but we expect additional details in the firm's fourth-quarter earnings call next week.
By Christina Rexrode and Andrew Grossman
Citigroup Inc. will pay $7 billion to settle the U.S. government's accusations that it misled investors about the quality of mortgage securities it sold in the run-up to the financial crisis.
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