Citi Financial News

Israel carried out strikes on the Gazan city of Rafah overnight as it sought to put «pressure» on Hamas ahead of talks in Egypt on Tuesday aimed at sealing a truce proposal endorsed by the militants. After having vowed for weeks to push into the southern border town, Israel called on Monday for Palestinians in eastern Rafah to leave for an «expanded humanitarian area» ahead of a ground incursion. An AFP correspondent in the city reported heavy bombardment throughout the night, while the Kuwaiti hospital there said Tuesday in an updated toll that 11 people had been killed and dozens of others injured in Israeli strikes.

Oil prices ticked up early on Tuesday after Israel struck Rafah in Gaza while negotiations for a ceasefire with Hamas continued without resolution. Brent crude futures were up 46 cents, or 0.55%, at $83.79 per barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 46 cents, or 0.59%, to $78.94 a barrel.

Rafah the way it is envisioned as of now. «We've made quite clear our position on Rafah for some time, which is that we cannot support an operation in Rafah as it is currently envisioned. We have made clear — the Secretary made this clear in his conversations with Prime Minister Netanyahu and other members of the Israeli Government last week — that we have not seen a humanitarian plan that is credible and that is implementable,» State Department spokesperson Matthew Miller said in a press briefing on Monday (local time).

Hamas on Monday agreed to a Gaza ceasefire proposal from mediators, but Israel said the terms did not meet its demands and pressed ahead with strikes in Rafah while planning to continue negotiations on a deal. The developments in the seven-month-old war came as Israeli forces struck Rafah on Gaza's southern edge from the air and ground and ordered residents to leave parts of the city, which has been a refuge for more than a million displaced Palestinians.

Pulitzer Prizes for local and audio reporting on Monday. Based on the city's South Side, the Invisible Institute and its reporter Trina Reynolds-Tyler, along with Sarah Conway of journalism laboratory City Bureau, won a Pulitzer for a seven-part investigative series on missing Black girls and women in Chicago and how racism and the police response contributed to the problem.

Microsoft Corporation recently acquired 48 acres of land in Hyderabad for a deal valued at approximately Rs 267 crore. The property was purchased from the land aggregator, Sai Balaji Developers, located in Ranga Reddy district, as per the document shared by Propstack, a data analytics firm. «Microsoft has big plans to expand its data centre business and will be developing one of the biggest data centres in the region. The property is located about forty kilometres from the main city of Hyderabad, and the company paid a premium on the land,» said a person aware of the deal.

Two employees of Stifel Financial Corp. in London departed the US investment bank after a probe into alleged inappropriate relationships with a cleaner.

A man has admitted in court that he killed four women in Winnipeg, but his lawyers are asking he be found not criminally responsible because of mental illness.Court of King’s Bench Chief Justice Glenn Joyal said Monday the question of Jeremy Skibicki’s mental capacity and intent will now be the focus of the trial.The Crown agreed the trial, which was supposed to be with a jury, will instead be heard by a judge alone because of complexities with this type of defence.“Concluding this matter before a jury does pose some challenges,” said prosecutor Christian Vanderhooft.The trial is to start Wednesday.Skibicki, 37, has pleaded not guilty to four counts of first-degree murder.His lawyers argued last week for the case to be heard in front of a judge alone. They said a jury trial would infringe on Skibicki’s rights to a fair trial because of significant pretrial publicity.The lawyers also expressed concerns a jury would have negative views of Skibicki using a not criminally responsible defence.

As we reported yesterday, a financial institutions group (FIG) associate has died at a major US bank in New York City. The cause of his death is unclear. There are unconfirmed suggestions that he worked long hours for weeks prior to his passing. There have also been unconfirmed suggestions on Instagram that he had existing health issues. Colleagues are understood to be devastated, and his family have requested space to grieve and to process his passing.

Singapore isn’t the hedge fund heaven that Hong Kong is usually seen as, but things seem to be taking a turn. Funds in the city – both headquartered and present there – have been busy adding Portfolio Managers (PMs) in the city.

There are many things which keep people in the investment banking industry.  Money, forexample.  Also, the prospect of more money, and the threat of losing deferred money. There’s also interesting work and pleasant colleagues, for some lucky bankers.  But, as former Goldman Sachs banker Cassindy Chao is refreshingly honest to admit, another thing that keeps people in the industry when they might otherwise be tempted to get out is the sheer psychological trauma of seeing friends and acquaintances get much richer than you. This is especially so when those people were formerly your juniors. 

Ontario Provincial Police are investigating reports of an illegal online gambling operation targeting youth in the city of Orillia after students reported being threatened over money they owed.

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Gold rate today jumps after disappointing US non-farm payroll data, slide in US dollar rate, Xi Jinping's Europe trip According reports, Chinese consumers have increasingly turned to gold amid waning confidence in conventional investment avenues such as real estate or stocks. Concurrently, the nation's central bank has consistently bolstered its gold reserves while reducing its holdings of U.S. debt.

Russian President Vladimir Putin ordered his country’s military to test its readiness to use tactical nuclear weapons—a step the Kremlin said was a response to recent comments by Western officials, including warnings that European powers could do more to help Ukraine in its fight with Moscow. Exercises involving Russia’s navy and air force, along with units in the country’s southern military district that oversees Crimea and other parts of Ukraine occupied by Russian forces, are to begin on an undisclosed date, the Russian Defense Ministry said.

Arvind Kejriwal while the Karnataka sexual abuse scandal dominated political discourse in some places. Several companies including Godrej Consumer Products and Bombay Dyeing declared fourth quarter results while the Bombay High Court granted Jet Airways founder Naresh Goyal interim medical bail for two months. Thousands of Palestinians fled the south Gaza on Monday as the Israeli military prepared for a possible ground invasion.

construction season.Workers will be outside taking advantage of the weather to get all sorts of projects done, such as road maintenance and sewer upgrades.However, the season is notorious for its traffic congestion, and with the amount of work going on, planning experts say better execution is needed to reduce the impact on people’s lives.“Disruption for a day, week or month is understandable. Disruption for five years to your life is something unacceptable,” said Murtaza Haider, a professor of management at Toronto Metropolitan University and director of the Urban Analytics Institute.“The kind of systems we have put in place (and) the kind of oversights we have put in place are not necessarily conducive for rapid, fast execution and delivery of transit infrastructure or transportation infrastructure.”Every spring, construction crews take to the streets of many Ontario cities to begin work on projects, taking advantage of the warm weather because some work can’t be done during the cold months, said Matti Siemiatycki, a professor of geography and planning and director of the Infrastructure Institute at the University of Toronto.Last year, work during Toronto’s construction season was pegged at $1.14 billion, and involved maintenance and upgrades to roads, bridges, expressways, TTC tracks, sewers and watermains.But nowadays, Toronto residents are beginning to see projects planned for year-round work.For example, parts of the city’s Gardiner Expressway were recently reduced by one lane in each direction for “critical rehabilitation work” over the next three years.

State Bank of India has invested Rs 714 crore in New York headquartered TCG Urban Infrastructure, who is developing world trade centre in Gurugram with one million sq ft of leasable space. The total cost of the project is expected to be Rs 1,211 crore of which Rs 497 crore has been invested by the promoter, according to documents accessed through CRE Matrix, a real estate data analytics firm.

Abhay Jain on Monday said some BJP leaders had requested him to withdraw his candidature from Indore Lok Sabha seat in Madhya Pradesh, a claim dismissed by the ruling party as «fictional» and «publicity driven». Incidentally, Jain had contested the 2023 assembly polls from Indore-1 against BJP heavyweight (and eventual winner) Kailash Vijayvargiya and had lost his deposit. Jain is contesting the Lok Sabha poll as an independent since his Janhit Party, an umbrella body of former RSS pracharaks, is yet to get recognition from the Election Commission.

University of Mississippi students Spencer Maxwell and Connor Moore discuss promoting patriotism on campus on 'The Bottom Line.'

Israeli soldiers were killed in a rocket attack claimed by Hamas armed wing, near the southern Gaza Strip city of Rafah, where Palestinian health officials said at least 19 people were killed by Israeli fire on Sunday. Hamas's armed wing claimed responsibility on Sunday for an attack on the Kerem Shalom crossing into Gaza that Israel said killed three of its soldiers. Israel's military said 10 projectiles were launched from Rafah in southern Gaza towards the area of the crossing, which it said was now closed to aid trucks going into the coastal enclave. Other crossings remained open.