Citi Financial News

Venture capital (VC) funds and angel investors have started to seek more clarity from cofounders, who are also spouses, about their roles, responsibilities and any special rights given to either of them at the time of the company’s inception. In several instances, founders often name their spouses as cofounders at the time of the inception of their venture. However, if the spouses choose to part ways after a few rounds of funding, at that time, dealing with that separation becomes messy for investors as they have to deal with disgruntled spouses who are also shareholders of companies.

India accounted for over a third of all cosmetics sold in India in FY24, despite having less than a quarter of the country's households, with companies saying the region is a hotspot for most of its launches and product innovation. Global consumer researcher Kantar said in its latest report that more than 186 million pieces of cosmetics — including lipsticks, nail polish and eyeliners — were sold in the past year in top 10 Indian cities. «Average makeup usage per person is higher in the east; women in the region like wearing makeup more than any other part of the country. For us, usage is significantly higher in the north too,» said Samir K Modi, managing director, Modi Enterprises, which sells Colorbar brand. «Unlike other markets, where people tend to stick to fewer shades, the eastern region consumes a lot of different shades, even darker ones generally not sold much elsewhere.» Within cosmetics, lip products are the biggest, with 65 million units sold annually, generating close to Rs 1,700 crore revenue in FY24. Face and lip cosmetics together generate close to Rs 2,900 crore, or about 70% of industry value. While 47 million nail cosmetics are purchased annually, their relatively lower cost means they generate about Rs 350 crore. Eye products are the smallest colour cosmetic segment in the country by number of units — sold at 34 million.

debate between Donald Trump and Joe Biden who are the likely presidential nominees from the Republican and Democratic parties. The debate which will be conducted by CNN will have some basic rules such as turning off mics and commercial breaks. The debate featuring the two will have muted mics when it is not the turn of either of the candidates to speak. Further, during the debate, taking advantage of the expected high number of people who are expected to watch the debate, the channel has scheduled two commercial breaks. The first of the two debates will be held on June 27 in the city of Atlanta.

France Saturday to protest against the far-right National Rally (RN) ahead of the French parliament elections. Following the RN's surge in last Sunday's European elections, police said 350,000 people were expected to march and 21,000 officers had been mobilised after labour unions, student groups and rights groups called for rallies to oppose the anti-immigration, eurosceptic party.

City of Calgary has declared a local state of emergency on Day 10 of its water supply crisis, triggered by what officials have described as a “catastrophic” water main break.“This is an all-hands-on-deck situation,” Gondek told reporters at a news conference.She added that she has been in contact with Premier Danielle Smith and other provincial cabinet ministers about what comes next.The announcement came on Day 10 of the crisis, and one day after crews found “significant” additional damage on a crucial feeder main, shifting the expected timeline for restoring normal water service to three to five weeks from now.Gondek said declaring a state of emergency will help the city “expedite things,” and most importantly will help allow crews to access private property should they need to address the multiple damaged areas of the water system that have now been identified.The mayor said she is “very grateful” for the support the provincial government has offered the city.Municipal Affairs Minister Ric McIver issued a statement after Gondek announced the local state of emergency had been declared.“Alberta’s government supports the City of Calgary in its decision to declare a state of local emergency as this step signifies the critical state of Calgary’s water infrastructure and the work that must happen expeditiously in order to return to normal,” his statement read in part.“Alberta’s government remains in regular communication with the city through the Calgary Emergency Management Agency, Alberta Emergency Management Agency and directly with the mayor’s office and we support the city in any way that is needed.”Gondek was joined at Saturday’s news conference by Calgary Emergency Management Agency chief Susan Henry.Henry said “we

Britain, our destination. Similar gaffes have occurred in the past. In the 15th century, Christopher Columbus landed in what he thought was India, but it was America. This case of mistaken identity caused the Italian navigator to call the local inhabitants 'Indios', Indians, an appellation that would be used for centuries to refer to indigenous Americans. What I was wondering on the long ride from the airport to the city was where the dickens I'd landed. Because London seemed transformed by some wave of a Hogwarts wand into an ersatz America.

Water restrictions in Calgary are set to remain in place for up to five more weeks, as crews working to repair the water feeder main discovered more locations than need to be repaired.

Most deaths were due to smoke inhalation while residents in the building were sleeping when the fire broke out early Wednesday in Kuwait's southern city of Mangaf in Ahmadi Governorate. The building was home to 196 migrant workers, mostly Indians.

Kota in Rajasthan continues to be a beacon of hope for countless aspirants aiming to crack some of India's toughest entrance exams like NEET and JEE. The journey of Aman Mahavar exemplifies why Kota remains a magnet for these aspirants. Aman’s story is not your typical rise-from-adversity tale. As reported by TOI, he faced seven failed attempts at NEET until 2022 and seemed destined to return to his job as a postman in Bikaner. However, a chance opportunity changed his fate. Aman heard about Motion Education’s scholarship lottery while working in a post office, filled out the form, and was selected. This unexpected break put his dream back on track. Having worked various jobs since his school days to support his mother, Aman finally cracked NEET on his eighth attempt in 2023, securing a seat at GMC Medical College in Tamil Nadu’s Ramanathapuram.

Fuelled by economic diversification, rising consumer demand, and reverse migration patterns accelerated by the pandemic, the real estate markets of Tier-2 cities are witnessing remarkable growth trends, and these once overlooked urban centres are rapidly closing the gap with their Tier-1 counterparts, according to Housing.com’s ‘The Bharat in India’ report.

Real estate has emerged as a “popular hedge” against inflation, says a report. Real estate investments can generate rental income, which potentially grows over time in response to inflation, ANAROCK research has said in its report.

Gujarat International Finance Tec-City Company Ltd (GIFTCL) has received the highest bid of Rs 6,557 per sq ft totalling over Rs 342 crore for development rights of a proposed residential project in the special economic zone (SEZ) of GIFT City. Ahmedabad-based Nila Spaces has outbid 10 other bidders to emerge as the highest bidder with its record of Rs 6,557 per sq ft for development of 5.22 lakh sq ft on a 1.37-acre plot. The bids were opened on Friday evening. This is the highest-ever price being paid for development rights in GIFT City. Prior to this, development rights here had attracted the highest bid of Rs 4,355 per sq ft for a hotel project in March and Rs 3,870 per sq ft for a residential project in February.

Haryana to discharge additional water into the Yamuna on humanitarian grounds, senior AAP leader and minister Atishi said on Saturday. Delhi's water minister also told a press conference here that the capital is facing a shortage of 70 million gallons per day (MGD) in production due to lack of raw water in the Munak canal and Wazirabad reservoir. The normal water production of around 1,002 MGD in Delhi went down to 932 MGD on Friday because of lack of raw water, she said. «The Delhi government has appealed to Haryana to release additional water for the people of the city on humanitarian grounds,» the minister said and added that issues related to share of Yamuna water can be discussed after heatwave conditions abate.

income in the past year, and 32% of elderly individuals or their spouses had an annual income of less than Rs 50,000. Only 29% of elderly people had access to social security schemes such as old-age pensions, contributory pensions, or provident funds. Nearly 65% of elderly individuals said they were not financially secure with their current income and access to savings and investments. These findings are part of a report released by the voluntary organisation HelpAge India on the eve of World Elder Abuse Awareness Day, observed on June 15. Regarding health, more than half of the elderly (52%) reported facing at least one challenge related to daily living activities, and 54% suffered from two or more non-communicable diseases.

AAP MLAs have written a letter to Union Jal Shakti Minister CR Paatil urging his intervention to solve the water crisis faced by the national capital amid the prevailing intense heatwave. Calling the situation «very critical», AAP's chief whip in Delhi Assembly Dilip Pandey on Saturday said the Yamuna water issue was an inter-state issue that required coordination of the Jal Shakti Ministry. Pandey said that in the letter from the AAP MLAs, time has been sought to meet the minister for a discussion on the matter. The AAP leader also said that instead of indulging in politics, all parties should work for a solution to resolve the water crisis and provide respite to the people of Delhi.

Greece is grappling with the repercussions of an unprecedented early heatwave that has claimed the lives of several tourists and left many missing amid record-breaking temperatures. The heatwave, defined by temperatures exceeding 38°C for at least three days, has prompted urgent warnings to travelers. The heatwave has hit Greece earlier than ever before, with tourist hotspots in Athens and beyond forced to close. The Acropolis, Greece's most visited tourist attraction, shut its doors on Wednesday and Thursday as temperatures soared, causing visitors to faint while waiting in line. Greek authorities issued a level three heat alert, urging people to work from home and avoid strenuous outdoor activities. Chania, a city on the northwest coast of Crete, recorded the highest temperature, reaching 44.5°C on Thursday. The area also experienced a 3.7 magnitude earthquake on Friday morning. Central Athens saw temperatures climb to 42°C, prompting health warnings and school closures.

gold in the last one week has been 1.15% .whereas in the last month it has been 2.7%.The cost of silver is Rs.88010.0 per kg down by Rs.100.0 per kg.Gold Price in Delhi - Gold Price Today in Delhi is ₹73735.0/10 grams. Yesterday’s Gold Price on 14-06-2024 was ₹73155.0/10 grams. and last week’s gold price on 09-06-2024 was ₹73998.0/10 grams.Silver Price in Delhi - Silver Price Today in Delhi is ₹88010.0/Kg.

Union Minister Suresh Gopi on Wednesday described former PM Indira Gandhi as the "mother of India" and late Congress Chief Minister K Karunakaran as a «courageous administrator». The BJP leader also called Karnuakaran and Marxist veteran E K Nayanar as his «political gurus». Gopi was speaking to reporters after visiting the memorial of Karunakaran, "Murali Mandiram" located in Punkunnam here. Interestingly, Suresh Gopi had won Thrissur Lok Sabha constituency by dashing the hopes of Karunakaran's son and Congress leader K Muraleedharan who finished third in a triangular contest in the April 26 polls. Urging mediapersons not to add any political connotation to his visit to Karunakaran memorial, the BJP leader said he came here to pay his respects to his «guru». He said like Nayanar and his wife Sarada Teacher, he had close relations with Karunakaran and his wife Kalyanikutty Amma also.

IPO) of Bengaluru-based Stanley Lifestyles will open for subscription on June 21. The company has set a price band of ₹351-369 apiece for the share sale, which closes on June 25. Investors can subscribe for a minimum of 40 equity shares and multiples thereafter. The offer consists of a fresh issue of ₹200 crore and an offer for sale of up to 9,130,000 shares worth ₹337 crore by existing shareholders. Sunil Suresh and Shubha Sunil, promoters of Stanley, will sell 1.18 million shares each in the OFS portion of the IPO. Investor Oman India Joint Investment Fund II will also divest 5,545,000 shares in the IPO.

logistics firms such as Delhivery and Xpressbees, which have hitherto focused on servicing ecommerce orders, are entering the quick-commerce sector as demand continues to surge on platforms like Swiggy Instamart, Blinkit, Zepto and others, multiple people aware of their plans told ET. Gurgaon-based logistics firm Delhivery — the largest third-party logistics (3PL) firm — has started to manage Swiggy Instamart’s larger warehouses that supply to small dark stores, or fulfilment centers, in city pockets. Similarly, Pune-based Xpressbees is in talks with multiple players to enter the segment, sources added.

Raymond James is continuing to build on its recruitment tear in June, this time with a breakaway advisor joining in a Southwestern US portion of the Sun Belt.