Citigroup's net income increased to $3.6 billion in the fourth quarter 2016, primarily driven by the lower operating expenses and cost of credit, partially offset by lower revenues. Citigroup's effective tax rate was 30% in the current quarter compared to 29% in the fourth quarter 2015.
Mercosur, or the Southern Common Market, is a customs union between Brazil, Argentina, Uruguay and Paraguay. It was originally set up in 1991. Bolivia, Chile, Colombia, Ecuador and Peru have associate member status. Bolivia may be incorporated as a full member soon.
Merguez /mÉÉrËÉ¡Éz/ is a red, spicy mutton- or beef-based fresh sausage from North African cuisine. It is also popular in the Middle East and Europe, having become particularly popular in France by the closing decades of the twentieth century.