Citi Financial News

Pune city has recorded 73 confirmed cases of Zika virus infections since June, according to civic officials on Thursday. The Zika virus, a mosquito-borne disease, spreads rapidly during the monsoon season when mosquitoes breed in stagnant water. The first case in Pune was reported on June 20, and out of the infected individuals, four have died. While these four patients had pre-existing conditions or age-related issues, the virus significantly impairs the immunity of those affected. Of the 73 infected, 26 are pregnant women, which exposes them to the risk of microcephaly, a birth defect where a child's head is smaller than usual for their age. Zika infections during pregnancy can also lead to stillbirth, pre-term birth, or fetal loss. Long-term effects of the virus on adults are still under investigation.

Canada just went through one of the most punishing bouts ofinterest rate hikes in history, and when you think about it, it’s quite remarkable we haven’t fallen into recession — at least not yet, anyway.

NEET PG 2024 today, ahead of the entrance exam scheduled for August 11, 2024. Candidates who have registered for the exam can now download their hall tickets from the official NBEMS website, nbe.edu.in, by using their roll number, date of birth, and other required details. NBEMS had previously released the NEET PG 2024 exam city intimation slips on July 31 and August 4. The admit cards will provide detailed information regarding the exam schedule and venue. To download the NEET PG 2024 admit cards, candidates should follow these steps:

Chennai on August 10 (Saturday). It will bring together entrepreneurs, industrialists, policymakers and sectoral experts on a common platform to discuss ways to strengthen the industrial ecosystem in the region. The ET Make in India SME Regional Summit in Chennai will focus on discussing ways to improve the state’s manufacturing and export might. To register for the Chennai summit, click here

ride-hailing drivers are facing the threat of job loss from artificial intelligence as robotaxis begin to proliferate. Self-driving technology, still experimental, is being aggressively greenlit in China compared to the US, where approvals are often suspended after accidents. At least 19 Chinese cities are testing robotaxis and robobuses, with seven cities approving tests without human-driver monitors from at least five industry leaders: Apollo Go, Pony.ai, WeRide, AutoX, and SAIC Motor. Apollo Go, a subsidiary of technology giant Baidu, plans to deploy 1,000 robotaxis in Wuhan by year-end and operate in 100 cities by 2030. Pony.ai, backed by Japan's Toyota Motor, operates 300 robotaxis with plans to increase to 1,000 by 2026. WeRide is known for autonomous taxis, vans, buses, and street sweepers, while AutoX, backed by Alibaba Group, operates in cities including Beijing and Shanghai. SAIC Motor has been operating robotaxis since 2021. In the US, Alphabet's Waymo operates uncrewed robotaxis that collect fares, with over 1,000 cars in San Francisco, Los Angeles, and Phoenix. Cruise, backed by General Motors, resumed testing in April after an accident last year.

Sao Paulo Civil Police in Brazil have uncovered a sophisticated crypto laundering operation linked to a major drug gang – the First Capital Command (PCC).

Bengaluru a 'Metro' status. Union Minister of State for Finance, Pankaj Chaudhary, explained on Tuesday that under Rule 2A of the Income-tax Rules, 1962, a distinction is maintained between the cities of Mumbai, Kolkata, Delhi, and Chennai, and other places concerning special allowance for residential accommodation under section 10(13A) of the Income-tax Act, 1961. The four designated metropolitan cities have a 50 per cent salary consideration for computing exemption limits, while other cities, including Bengaluru, have a 40 per cent limit, a Bangalore Mirror report stated.

1,000 kilometres of dedicated and mainly electrified tracks between Windsor and Quebec City, with stops in Toronto, Peterborough, Ont., Ottawa, Laval, Que., Montreal and Trois-Rivières, Que.If it goes ahead, it will be the biggest Canadian infrastructure and transportation project in the 60 years since the St. Lawrence Seaway was built.

BHEL, REC, HPCL, Ceat, and BPCL, along with several other companies, are likely to be in focus today as they have declared August 9 as the record date for determining eligible shareholders for dividend payments. This means today is the last day to buy shares of these companies to qualify for the announced dividends.

China's 7 million ride-hailing drivers. A 36-year-old Wuhan resident, he started driving part-time this year when construction work slowed in the face of a nationwide glut of unsold apartments. Now he predicts another crisis as he stands next to his car watching neighbours order driverless taxis. «Everyone will go hungry,» he said of Wuhan drivers competing against robotaxis from Apollo Go, a subsidiary of technology giant Baidu.

India’s growing influence in the Olympics during a bid to host the 2036 Summer Games should soon see a first sponsor deal from the country for the IOC

Boutique banks have been having a pretty good 2024 so far, with Evercore and Moelis in particular recording spectacular revenue increases. As a consequence, they’ve been hiring – both from each other and from Wall Street.

One of the warning signs that an investment banking franchise is in trouble is that memos start going round the office telling everyone that business class travel is being curtailed . It tends to be followed by strict limits on client entertainment, or even the banning of particularly popular and expensive restaurants.

Working in private equity is notoriouslylucrative, but as governments globally look for ways of raising additional tax, it stands to become less so in the future.

Kathleen Martin wasn't sure about leaving JPMorgan for Citi. It was late 2021, and she'd spent four and a half years at JPMorgan after a career at Morgan Stanley and GE Capital. At JPMorgan, Martin was an MD and global technology chief of staff, and her job was secure. But Citi came calling with what Martin says was represented to her as a «long-term leadership position» and she jumped. 

Investment banking revenues may be recovering, but banks' cost-cutting days are never done. And as banks cast about for costs to remove in a world where deals are recovering, guess who's in the firing line? Not people in the front office. 

Tom Hardy has been seen in New York City, filming scenes for "Venom: The Last Dance." This Marvel movie is in reshoots and is the final installment with Hardy as Venom.

University of Maryland economist Peter Morici discusses whether Wall Street investors believe Bidens economy is improving on Varney & Co.

Paris Mayor Anne Hidalgo did not mince words as she launched into an expletive-filled tirade against those who criticized the Olympic opening ceremony, defending the director and artists who put on the show.

Online gambling company bet365 must refund more than a half-million dollars to customers who won bets, but were paid less than they were entitled to when the company unilaterally changed the odds while making the payouts

Fresh talent hiring increased 11% from a year earlier in July, with the index rising from 268 to 298, despite falling 1% sequentially, according to the foundit insights tracker (fit), a monthly analysis of online job posting activity. “We have also noticed that the salaries of employees have consistently risen, driven by higher demand for fresh talent and competitive salary offerings. This growth is likely fueled by high-growth sectors such as technology, digital marketing, and e-commerce,” said Sekhar Garisa, CEO, foundit, a Quess company.