Video - Business Update: Citigroup splits

Humbled financial powerhouse Citigroup decided to split into two companies putting an end to the financial supermarket model it created. The announcement accompanied a near $8.3 billion quarterly loss, extending a 15-month string of losses to more than $92 billion. Meanwhile, A deep downturn in demand for chips used in electronic devices will extend into the first quarter, Intel Chief Financial Officer Stacy Smith said after the company's in-line results. Conway Gittens reports from New York.

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