Citi Financial News

By David Shepardson

Central Bureau of Investigation (CBI) has submitted a list of 23 witnesses it would not be examining against former media executive Indrani Mukerjea and other accused in connection with the killing of her daughter Sheena Bora. The agency in the list, submitted to a special CBI court here on Thursday, that includes Mumbai's former police commissioner Rakesh Maria and other police officials said they would not be examined in the trial as they were «unrelied witnesses». Indrani and her two former husbands — Peter Mukerjea and Sanjeev Khanna — are accused of being involved in the killing of Sheena Bora, Indrani's daughter from her first relation.

Maneesh Dangi, Founder, Macro Mosaic Investing & Research, says “we are entering a very longish bond rally and much of the pain of 2022 would unwind in 2024… On currency also, we are perhaps entering a very longish dollar bear market. And there is a small chance that the dollar actually does somewhat well in the US recession, but otherwise in a very-very long US bear market and that will actually help us emerging market currencies pretty significantly.” What a change in stance by the Fed! Were you expecting it? Yes, incidentally, I sort of made this prediction on your channel a week ago. I have made this point a couple of times in the last two months that we are closer to the Fed pivot, closer to a deep dive in US interest rates. People often think that more of today will continue tomorrow but at times, of course, these things change and typically rate these oscillating variables. I was expecting this, I have written about it extensively and I think rates in the US are headed much lower from where they are today. They have already rallied quite substantially but a significantly rally ahead. A US economy cannot absorb such high interest rates and the Fed had to recognise and they did once they have begun to side that inflation is sort of in control right now.

On the BSE, City Pulse Multiplex(down 14.92 per cent), SVS Ventures(down 8.04 per cent), Veerkrupa Jewellers(down 6.34 per cent), Kama Holdings(down 6.34 per cent) and Modipon Ltd(down 6.15 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 41 stocks traded in the green, while 9 stocks traded in the red.

By Kylie Madry

2024 after a dismal showing for IPOs this year, noting that interest rates have stabilised globally but they add that elections across the region and in the U.S. could crimp demand. High interest rates, sticky inflation and geopolitical tensions have seen share sales by Asia Pacific (including Japanese) companies sink by a fifth in value so far this year to $229 billion, LSEG data shows.

bond yields and a rash of market bets on U.S. rate cuts next year, marking a sharp shift in pricing that is rare outside of financial panics. Economic data on Thursday showing stronger-than-expected retail sales in November and a smaller-than-anticipated rise in weekly jobless claims had traders paring a bit of their earlier enthusiasm for Fed policy easing next year. But even after the data, rate futures markets remain solidly priced for a March start to a round of rate reductions that would push the Fed's benchmark rate, now in the 5.25%-5.50% range, to the 3.75%-4.00% range by the end of next year. That's twice the 75-basis-points of rate cuts Fed policymakers themselves penciled in for 2024 in projections released by the U.S.

By James Pomfret, Greg Torode and Jessie Pang

A Mississippi grand jury has declined to bring charges against a police officer who responded to a call and shot and wounded an unarmed 11-year-old boy inside the home

BEIJING (Reuters) -China's new home prices fell for the fifth straight month in November, official data showed on Friday, as the sector still struggles to elbow its way out of a weak market in the face of dampened confidence in demand and investment.

Hamas attack on Israel on October 7 is never repeated, senior officials said. Sullivan will discuss "ongoing efforts to revamp and revitalize" the Palestinian Authority and reining in "extremist settler violence" against Palestinians in the occupied West Bank, said one of the officials, who declined to be named. Here are the top 10 updates on the Israel-Hamas war, 1) The Palestinian Prime Minister Mohammed Shtayyeh, in an interview on Thursday said the Biden administration must now “walk the walk" and take specific steps toward what has been an elusive two-state solution, including by applying pressure on Israel, AP reported.

MEXICO CITY (Reuters) — Citigroup's Mexico retail unit, known as Banamex, is set to split off from its parent by the second half of 2024, the lender's Mexico head Manuel Romo told local media on Thursday.

Xcel Energy has been fined $14,000 related to leaks of radioactive tritium from its nuclear power plant at Monticello

They began as the Tampa Bay Devil Rays in 1998, then shortened their name in 2007 to simply Tampa Bay Rays

Workers angry that a proposed smoking ban in Atlantic City's casinos seems to be going nowhere protested by lighting up during a state government hearing Thursday in Trenton

General Motors’ troubled Cruise autonomous vehicle unit is cutting over 900 jobs as it moves to reduce costs and remake itself after a series of safety problems in San Francisco

Investing.com — Main U.S. indexes rose Thursday on optimism for future interest rate cuts following the Federal Reserve’s final policy meeting of the year.

Dosti Realty is foraying into the business of housing society redevelopment and is looking to invest over Rs 1,000 crore over the next 2-3 years to build its portfolio under this segment, said a top official of the company. As its maiden project involving redevelopment work, the company has secured rights to redevelop a large housing society spread over a prime 2.5-acre land parcel in Thane’s Louis Wadi locality. In addition to this project, Dosti Realty is also in the process of finalising two key cluster redevelopment projects in Mumbai. “Dosti Realty has so far focussed on greenfield large township projects…The acquisition of rights to redevelop this society in the heart of Thane is a part of the growth strategy of the company and to expand its development portfolio by foraying into the redevelopment space on a larger scale.

Parliament security breach incident, was arrested on Thursday evening, police sources said. According to them, Jha was arrested from the national capital. In a major security breach on the anniversary of the 2001 Parliament terror attack on Wednesday, two men — Sagar Sharma and Manoranjan D — jumped into the Lok Sabha chamber from the public gallery during Zero Hour, released yellow smoke from canisters and shouted slogans before being overpowered by MPs. Around the same time, two others, including a woman, raised slogans and released yellow smoke from canisters outside the Parliament premises, prompting police to round up the duo. According to police, the Parliament security breach was well-coordinated, meticulously planned and carried out by six people, all of whom are now in police custody. While Sagar, Manoranjan, Amol and Neelam were nabbed from incident spot, their accomplice Vishal, in whose house they stayed before reaching Parliament, was detained from Gurugram. «Jha was arrested from New Delhi,» a police source said on Thursday. Neighbors of Lalit Jha, the alleged mastermind in the Parliament security breach, were surprised to see his images on news channels, recalling him as a reserved individual who seldom engaged with the community at Burrabazar in Kolkata. Papun Shaw, a tea stall owner at Rabindra Sarani in the Burrabazar area, the business district of the city, identified Jha as a 'teacher' who disappeared two years ago. Shaw said, «He was known as a teacher, used to teach local students. A few years back, he came to the area and was living alone.

National Insurance Academy said in a report, which was released on Thursday. Unveiling the report, Irdai Chairman Debasish Panda urged the industry to emulate steps that led to the massive success of the UPI, opening of bank accounts, as well as mobile penetration. Panda said a compulsory natural calamity insurance in high-risk regions — as recommended in the report — is needed if the country wants to achieve insurance for all by the time the nation completes a hundred years as a republic.

Citigroup Inc. is offering to pay some staffers a portion of their bonuses early if they agree to depart as executives continue with their restructuring of the Wall Street giant.