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.
Maunder Minimum. The Maunder Minimum, also known as the prolonged sunspot minimum, is the name used for the period starting in about 1645 and continuing to about 1715 when sunspots became exceedingly rare, as noted by solar observers of the time. The term was introduced after John A. Eddy published a landmark 1976 paper in Science.