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NEW YORK (AP) — Citigroup's Jane Fraser will become the first woman ever to lead a Wall Street bank when she succeeds CEO Michael Corbat in February. The New York bank announced the succession Thursday. Fraser is currently head of Citi's global consumer banking division, a major part of the bank that oversees checking and savings accounts but also Citi's massive credit card business. For 16 years, Fraser has worked in various departments within Citi:- 2015-19: Chief Executive Officer of Citi’s Latin American region.- 2013-15: Chief Executive Officer of the U.S. Consumer and Commercial Banking and CitiMortgage. - 2009-13: Chief Executive Officer of Citi's Private Bank. - 2007-09: Global Head of Strategy and Mergers & Acquisitions.In 2004, she joined the company in its Corporate and Investment Banking division.She previously worked at McKinsey & Company, Goldman Sachs, and Asesores Bursátiles.Fraser also serves as a member of the Board of Dean’s Advisors at Harvard Business School and Stanford University’s Global Advisory Council. She's also a member of the Council on Foreign Relations.She earned her M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University.Fraser's climb to the CEO role is a major accomplishment in an industry long dominated by men. Corbat led Citigroup for eight years, rebuilding the company after it nearly collapsed during the Great Recession and 2008 financial crisis.Corbat had been with the company for 37 years. 1500

NEW YORK CITY — Fire marshals arrested a 36-year-old man accused of setting off fireworks that burned down a Brooklyn home last month, officials said Thursday.Officials said that the video shows Damien Bend igniting the illegal fireworks on June 24. Bend is charged with arson, FDNY Commissioner Daniel Nigro said."Illegal fireworks pose significant dangers to the safety of New Yorkers and their property," Nigro said. "Our Fire Marshals will continue to actively enforce the laws relating to illegal possession and sales of fireworks in New York City."Bend allegedly set off numerous fireworks, sending one of them through a window at around 9:25 p.m. last Friday night. Officials say he continued to light them, even as flames could be seen through the window of the 51st Street home.Video shows that one of the people with Bend appeared to be smoking a cigarette and filming himself as he shot off the fireworks.His friend, also filming himself, eventually noticed the house was burning at 9:32 p.m. — about seven minutes after the fire started.The video showed one of the men trying to contain the fire with a garden hose, to no avail."They were doing it in such a confined area it was just bound to happen," said FDNY Captain Michael Koco, director of safety education. "It was a recipe for disaster."The FDNY has set up one of a number of informational booths across the city to inform residents of the dangers of setting off fireworks, given the dramatic spike in complaints."A lot of times, the people that are being harmed are the bystanders," Koco said.In the last nine days, fire marshals in New York have arrested 17 people and confiscated nearly ,000 worth of illegal fireworks.It took 60 firefighters to knock down the blaze started by fireworks at 51st Street."They're illegal for a reason," Koco said. "You're talking about explosives. So you need someone who's a professional to handle them."This story was originally published by Aliza Chasan and Cristian Benavides on WPIX in New York City. 2021

NEW YORK (AP) — Mail-in voting has gotten off to a rocky start in New York City, where election officials sent out a large number of absentee ballots with the wrong names and addresses on the return envelopes.The faulty ballots were sent to an unknown number of voters in Brooklyn and could result in ballots being voided if voters sign their own name on return envelopes bearing different names. More than 140,000 ballots have already been sent out so far across the borough. It was unclear how many people got the wrong envelopes.The city Board of Elections is blaming the problem on the vendor that was contracted to print and mail the ballots for voters in Brooklyn and Queens. Board of Elections head Michael J. Ryan says the proper ballots and envelopes will get to voters before the Nov. 3 election.But it’s unclear exactly how the city will handle voters who had already mailed their completed ballot back in the provided envelopes.Ryan said elections workers will reach out to voters by social media and, if available, by telephone and email addresses. And he said the board will ensure all received ballots are “appropriately processed” and tallied votes are “properly credited” to voters. 1207

NEW YORK (AP) — President Donald Trump's former lawyer has been released from prison after a federal judge ruled that a move to revoke his home confinement was retaliatory.Michael Cohen was released from a prison in Otisville, New York on Friday after U.S. District Judge Alvin Hellerstein ordered him freed on Thursday.Cohen had sued the government saying he was ordered back to prison on July 9 because he was writing a book about Trump.Hellerstein said Cohen’s First Amendment rights were violated by the decision.The Bureau of Prisons said Cohen's book plans played no role in his reimprisonment. 608

NEW YORK (AP) — J.C. Penney says it is closing 154 stores nationwide in what it is calling the first phase of its efforts to shrink its footprint. According to USA Today, the retailer received bankruptcy court approval on Thursday to begin liquidation sales at stores that are permanently closing. The Plano, Texas-based retailer said it could take about 10 to 16 weeks to complete the closures. “While closing stores is always an extremely difficult decision, our store optimization strategy is vital to ensuring we emerge from both Chapter 11 and the COVID-19 pandemic as a stronger retailer with greater financial flexibility to allow us to continue serving our loyal customers for decades to come,” said Jill Soltau, chief executive officer of JCPenney in a press release. “I am incredibly grateful to our talented associates for their ongoing dedication and their passion for meeting and exceeding our customers’ expectations during this difficult and uncertain time. All impacted associates will be treated with the utmost consideration and respect.”Penney filed for bankruptcy protection last month, making it the biggest retailer to do since the coronavirus pandemic forced non-essential stores to be shut down temporarily. As part of its bankruptcy reorganization, Penney said it planned to permanently close nearly a third of its 846 stores in the next two years. That would leave it with just over 600 locations. 1431