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Citibank To Cut 11,000 Jobs

Citigroup Inc. announced that they will pay $7 billion to settle an investigation into shoddy mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis. The banking giant confirmed the deal on Monday and will take a $3.8 billion charge in the second quarter in connection with the settlement. Citi will release its earnings for the period on Monday morning. Read about it here…[CBS]

And in irony news, a man named Smoke is being accused of starting a California wildfire. Authorities believe the fire was sparked by the exhaust from a truck driven by Freddie Alexander Smoke III of Sacramento while delivering supplies to an illegal marijuana plot. The fire has burned 6 square miles, or 4,000 acres, of forested land in Shasta County and destroyed 18 structures, CalFire officials said. Read about it here…[HuffPost]

A Delaware man wanted on shoplifting charges was arrested after authorities found 16 bags of heroin down his baby’s diaper. Michael N. Penn was charged with Shoplifting, three counts of Endangering the Welfare of a Child, Resisting Arrest, Possession of Heroin, Possession of a Controlled Substance and Possession of Drug Paraphernalia. Read about it here…[PhiladelphiaCBS]

A survivor of the Boston Marathon Bombing was forced to leave a New Hampshire T.J. Maxx after the manager refused to let her in with her service dog. “He had on his service dog vest — bright blue, says ‘service dog’ all over it. The store manager came over to me and said to me, ‘If you want to keep your dog in the store, you have to put him in the carriage,” Sydney Corcoran, who lost both of her legs in the bombing, said. Later, T.J. Maxx released a statement vowing to “take steps to ensure employees follow the law to admit service animals.” Read about it here…[Gawker]

After warning residents to flee their homes in the Gaza Strip on Sunday, Israel dropped aerial bombs on areas home to Hamas and Islamic Jihad group members. The U.N. has reported that many Operation Protective Edge victims have been civilians, with the death toll rising to 167. Read about what Benjamin Netanyahu had to say about the crisis here…[LA Times]

PHOTO CREDIT: Getty

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