Live news from January 21: Global stocks notch worst week since 2020, US and Russia plan further Ukraine talks after Blinken-Lavrov meeting, BoE policymaker cautions on wage and price expectations

Citigroup has told New York-area staff to prepare to return to the office starting Feb 7, after relaxing its remote-work policy last month when the Omicron variant surged across the region.

The New York City-based bank, which has taken a much more flexible stance on hybrid working than most of its Wall Street peers, is reinstating its mandate that employees work from the office at least two days a week starting February 7. The policy initially went into effect in September.

The return-to-office will apply to workers in the tri-state area, which covers Connecticut, New Jersey and New York. Staff in other cities can continue to work remotely while the bank continues to monitor coronavirus trends in those areas.

Citi called its UK-based bankers back to the office this week after the government rescinded guidance that employees should work from home.

The bank requires employees to be vaccinated in order to work from their offices.