The US government has seized control of Citigroup's staff Christmas party budget and set tight restrictions on the use of its corporate jet in exchange for its $45bn (£28bn) bail-out.
The measures are among a raft of restrictions on expenses detailed in the small print of filing made by Citi on New Year's Eve with the US financial regulator, the Securities and Exchange Commission.
In a memo to staff, Pandit said he and the chairman, Sir Win Bischoff, would forgo year-end bonuses for 2008 after the huge banking group lost three-quarters of its market value and was forced to go cap in hand to the treasury.




A NASA report on the last minutes of Space Shuttle Columbia cited problems with the crew's helmets, spacesuits and restraints, which resulted in "lethal trauma" to the seven astronauts aboard.
Former Georgia Congresswoman Cynthia McKinney has called upon President-Elect Barack Obama to "please, say something about the humanitarian crisis that is being experienced by the Palestinian people, by the people of Gaza." McKinney spoke to CNN news from the Lebanese city of Tyre, where she had debarked from the relief vessel Dignity after it was rammed on the high seas by an Israeli patrol boat, early Tuesday morning. Passengers also report the Israelis fired machine guns into the water near their ship. 





























