Fred Business News- Citigroup delivered yet another quarter of devastating results Friday, this time losing more than $5 billion due to troubles in its fixed-income business and higher consumer credit costs, adding it would cut an additional 9,000 jobs.

The New York-based company also recorded more than $15 billion in writedowns, with the lion's share coming from subprime-related direct exposures.

But investors cheered the news, sending shares of Citigroup more than 6% in early trading, as the results were not as bad as some had feared.

During ...   more »