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The 130-year-old photographic film pioneer, Kodak  filed for Chapter 11 bankruptcy protection in New York early Thursday morning. It had also obtained a $950 million, 18-month credit facility from Citigroup to keep it going. Kodak press release says that Eastman Kodak Company and Its U.S. Subsidiaries Commence Voluntary Chapter 11 Business Reorganization. And, it informed that Flow of Goods and Services to Customers will Continue normally. According to the Kodak…

World Bank’s latest Global Economic Prospects (GEP) 2012 reports that the world economy in 2012 is set to grow by just 2.5 percent, weighed down by ripple effects from the 2008 financial crisis. The sovereign debt crisis in Europe, which took a turn for the worse in August 2011, coincides with slowing growth in several major developing countries (Brazil, India and, to a lesser extent, Russia, South Africa and Turkey),…

Citigroup Inc. today reported net income of $1.2 billion, or $0.38 per diluted share, for the fourth quarter 2011 on revenues of $17.2 billion. This compared to net income of $1.3 billion, or $0.43 per diluted share, in the fourth quarter 2010 on revenues of $18.4 billion. Citigroup 2011 full year net income was $11.3 billion on revenues of $78.4 billion, compared to net income of $10.6 billion on revenues…

Citibank customers can now use Facebook to pool their rewards points online.Citibank Tuesday launched a Facebook application “Thanks You Point Sharing” that lets users team up to use their points, whether it’s for charity, a group gift or a personal goal. Once customers have downloaded the app and connected their account, they can start a rewards pool with others. Citibank is giving away 2,500 free rewards points to each of…