Citi Financial News

San Diego Padres owner Peter Seidler has died

Manchester City reported record revenues of 712.8 million pounds for last season in latest figures released on Wednesday

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man from Aligarh, aged 37, unexpectedly found himself a millionaire on Diwali when more than Rs 4 crore was mysteriously deposited into his IDFC and UCO bank accounts. The recipient, Mohd Aslam, who operates a medical store in the city, attempted to contact the banks for clarification but was unable to receive a satisfactory response due to the Diwali holiday.

Baidu, warned on Wednesday that the fervor rushing to develop large language models in China could lead to a waste of resources, saying firms needed to focus their efforts on developing practical applications. Robin Li made his comments at an industry forum in Shenzhen amid mounting market worries over a potential industry shakeout as companies developing large language models have yet to find viable business models.

Karoon Energy is raising around $US300 million ($460 million) via Macquarie Capital, to fund the purchase of assets in the Gulf of Mexico from the privately held LLOG Exploration Company.

City Union Bank Ltd, part of the private sector banking space, has fallen by about 30% from December 2022 highs but the stock gave a breakout from a channel pattern last week which has opened room for the stock to head higher. As long as the stock stays above 136-140, bulls will be able to make a comeback, suggest experts. If the momentum continues, the short-term target is placed around 160, they say. The private sector bank hit a 52-week high of Rs 204.95 on 15th December 2022, but it failed to hold on to the momentum.

The prudential regulator will bolster liquidity rules for mutual banks and credit unions to better align them with requirements on the major and regional lenders and avoid a Silicon Valley Bank-style collapse creating contagion for the broader financial system.

I have been in Delhi for a little over a week, and, as is the case at this time of the year, the city is highly polluted. The trouble is Mumbai, where I live, has also been very polluted this year. Mumbai’s problem stems from a massive increase in construction in 2023.

Revlon is looking to double its India business to ₹400 crore in the current fiscal year and planning to add more stores, said a report by PTI citing a top company official. Revlon, which operates in India through local partner Modi-Mundipharma Beauty Products, is planning to increase the number of outlets to 600 and also quadruple its presence from 1,000 departmental stores to 4,000 stores. “We have around 300 outlets and planning to go around 600 outlets and increase presence in 1,000 department stores to 4,000 department stores," Revlon executive director and head of Revlon Indian Subcontinent Meghna Modi was quoted as saying by PTI.

BERLIN—The German capital has long been a lab for daring experiments in tackling the crisis of affordable housing that is plaguing city dwellers from San Francisco to Hong Kong. Anti-gentrification rules are so strict that in some neighborhoods, luxury renovations such as walk-in showers, balconies or cement tiles are turned down. Airbnb is tightly restricted while rental caps have forced thousands of landlords to slash rents.

student housing market is booming, fuelling ample opportunities for growth and spurring expansion among existing players. Student housing operators including your-space, Zolostays and Curated Living are chalking up ambitious expansion plans as they target more than 50% growth in FY24, buoyed by robust demand from both domestic and international students. Curated Living intends to expand its current bed capacity by as much as 2.5 times by end-FY25 while Zolo Scholar, the student housing segment of Zolostays, is looking to double its portfolio by end-FY24. Your-space plans to close this fiscal with 15,000 beds, increasing it to 25,000 by the end of next year. Operators say a bevy of factors are driving the boom in purpose-built student accommodations (PBSAs): India’s young population, increasing enrolment in higher education, surge in students migrating to cities with a greater concentration of educational institutions, growing investor and developer interest, and students’ preference for quality, organised accommodation. Like in the case of 21-year-old Mohammed Ali who zeroed in on Ivy League House (Curated Living’s student housing brand) when he moved from UAE to Pune for studies.

SAO PAULO (Reuters) — Brazilian airline Azul on Tuesday reduced its forecast for core earnings this year due to slower capacity growth and higher jet fuel price volatility but raised its view on 2024, lifting its Sao Paulo-traded shares.

Indigenous anti-mining protesters that have paralyzed Panama’s key roadways for weeks say they will temporarily suspend blockades for 12 hours Monday as a show of good faith to citizens affected by the demonstrations

As Israel unleashes one of the most-intense aerial bombing campaigns the Middle East has ever seen, leaders from the world’s top air forces are meeting in the United Arab Emirates to talk about almost anything that isn’t an airstrike

Steve Norton, who ran the first U.S. gambling facility outside Nevada — Atlantic City's Resorts casino — has died

California Gov. Gavin Newsom says arson caused a massive fire that has indefinitely closed a vital section of a freeway in Los Angeles

The Bellagio fountains on the Las Vegas Strip won't be very visible

El Salvador’s government has begun slapping a $1,130 fee on travelers from dozens of countries connecting through the nation’s main airport

Citigroup strategists indicate that futures positioning in most markets, including Australia and Europe, remains bearish.