Citi Financial News

The U.S. 10-year Treasury yield rallied after data showed the world's largest economy created more jobs than expected in August; but unemployment rose and wage inflation declined slightly, affirming expectations the Fed will pause rate hikes later this month. Germany's 10-year government bond yield, the benchmark for the euro area, rose 6.1 basis points (bps) to 2.53% after the U.S.

Louis Vuitton has picked up retail space in Jio World Plaza in Mumbai’s Bandra-Kurla Complex (BKC) from Reliance Industries through a long-term lease to set up its biggest store in India. The new store in the ritzy mall will be the second Mumbai outlet of the company, which is counted amongst the world's most valuable luxury brands. The international label has leased the space for 9.5 years through its Indian entity, Louis Vuitton India Retail. The company currently operates three stores in India, including at Taj Mahal Palace and Tower in south Mumbai’s Apollo Bunder, New Delhi’s DLF Emporio and UB City in Bengaluru.

Labor Day is right around the corner

By Farah Master, Joyce Zhou and David Kirton

ALSO READ: Anand Mahindra welcomes MS Dhoni to Swaraj Tractors: ‘Our paths were meant to cross He wrote, "Always good to get to Indore. It’s the city where I first met my wife.

E-recruitment activities in India fell by 5% in August compared to the same month last year as companies are cautious following challenges posed by inflation and the slow growth of other major economies such as the US, a report said on Friday. Sequentially also, the e-recruitment activities witnessed a 3% decline in August, foundit's (formerly Monster APAC and ME) 'foundit Insights Tracker (fit)' revealed. «While hiring has slowed down overall in several sectors in the country, our nation's economy maintains its resilience amidst global uncertainties. A large contributing factor to this stability is the government's emphasis on nurturing sectors such as shipping, finance, and travel,» foundit, a Quess company, CEO Sekhar Garisa said.

As Helmut Maucher, former chairman of Nestle, said in his book Leadership in Action, “It is imperative that the actual situation of a company, its products, and its mode of operating, correspond to the information being disseminated.” This is the most profound learning that continues to guide the business leadership; aligning marketing communication with the brand’s essence and the brand experience. However, something so simple is so rare to find speaking of the real estate industry.

By Liangping Gao and Clare Jim

reliance on personal vehicles, thus aiding in traffic decongestion and pollution reduction, all while generating employment opportunities for hundreds of thousands of young people otherwise lacking the specialized skills for traditional job markets. Going by what the ride-share companies are saying, a lot of these objectives appear to have been met.

Retirement is a milestone in one’s life that highlights the freedom from laboring days. Some are preparing for this day ahead of time while others tend to delay their retirement and save up what they need.

Labor Day is right around the corner

Indore in Madhya Pradesh is going through a massive transformation — from being the largest and most populous city in MP to its rapid industrialisation. Indore, the city well-known for its cotton handloom industry, also has a special place in billionaire businessman Anand Mahindra's heart. The Chairman of the Mahindra Group, who is in Indore for the 603rd meeting of the Central Board of the Reserve Bank of India on Friday, remembered his romantic connection with the city. The 69-year-old took to X (formerly known as Twitter) to share his love story with his 10.7 million followers on the social media platform. He revealed that he first met my wife, Anuradha Mahindra, in Indore. «Always good to get to Indore.

Christie's has cancelled the second auction of jewels belonging to an Austrian billionaire, whose German husband made his fortune under the Nazis, following «intense scrutiny, it said Friday. The auction house held a first controversial online and in-person sale in Geneva of part of the large stash of more than 700 jewels in May, and had been scheduled to hold a second round in November. But in a statement it said „Christie's has taken the decision not to proceed with further sales of property from the Estate of Heidi Horten.“ With just a portion of the collection sold, the auction eclipsed previous records set by Christie's in sales of properties that belonged to actress Elizabeth Taylor in 2011 and the „Maharajas and Mughal Magnificence“ collection in 2019, both of which exceeded $100 million. Hopes had been high for similar results from the second round. But following an initial report in the New York Times, Christie's sent a statement to AFP confirming that it had cancelled the second round, acknowledging that „the sale of the Heidi Horten jewellery collection has provoked intense scrutiny.“ »The reaction to it has deeply affected us and many others, and we will continue to reflect on it," it said. A large number of Jewish groups had asked Christie's to halt the initial Horten sale in May, describing it as «indecent», and demanding that the auction house do more to determine how much of it came from victims of the Nazis. The extraordinary collection belonged to Heidi Horten who died last year aged 81, with a fortune of $2.9 billion, according to Forbes. A report published in January 2022 by historians commissioned by the Horten Foundation said Heidi Horton's husband Helmut Horton, who died in Switzerland in 1987, had

Markets settled into a holding patterns ahead of Friday’s key US jobs data, with European stocks and American equity-index futures edging higher, Treasury yields flat and a gauge of the dollar steady.

Thiruvananthapuram's police force and make it on par with the standards of European law enforcement agencies, the city police have introduced electric hoverboard patrolling. As per a TOI report, these innovative hoverboards will initially be deployed by the traffic police, primarily on bustling roads where conventional two-wheelers and four-wheelers face challenges during patrolling, ensuring the safety of pedestrians. The primary objective behind this initiative is to establish a visible police presence in every nook and cranny of the city.

What's the G20 Summit Location in DelhiThe primary venue for the summit will be Bharat Mandapam, Pragati Maidan, where the discussions and deliberations will take place on September 9th and 10th. Additionally, delegates will embark on visits to several notable sites during the summit, including Rajghat, the National Gallery of Modern Art (NGMA), and the Indian Agricultural Research Institute (IARI) in Pusa.Impact on Traffic MovementFrom September 7th to September 10th, there may be temporary traffic regulations implemented in and around New Delhi.

Anshu Kapoor, President & Head, Nuvama Asset Management, says there are two drivers. The number one driver itself is the humongous pool of savings now available to the markets today. So, Indians save about $750 billion a year, that is Rs 60 lakh crore every year. A part of that savings obviously gets channelized into equity markets and other risky assets as we call them. But as wealth increases, demand for alternative avenues also increases and customers are asking why cannot we also access the next best unlisted companies of India? Why can’t we access commercial real estate or infrastructure assets? Emerging or evolving awareness about these products and asset classes is a big driver.”We have been seeing good flows in PMS and mutual funds from tier II, tier III cities and towns. But now we are seeing equally high interest in alternatives as well. What is driving this much more renewed awareness of investors from tier II, tier III cities and towns vis-a-vis financial assets?It is an interesting development that all of us are taking note of and I must say that the whole asset management industry is in a structural bull run.

Jawan, has set the ticket counters on fire. Advance bookings have just opened, and guess what? A staggering 41,000 tickets were snapped up in less than two hours. If you're still on the fence, you might just miss out on this cinematic extravaganza.

New income tax rules for these salaried taxpayers: The income tax department has announced major relief to taxpayers, availing company-provided rent-free homes. It has lowered the tax for employees staying in such accommodations. The new rule comes into effect from today, September 1, 2023.

The G20 Summit, a global forum for international economic cooperation, has emerged as a platform that brings world leaders together and significantly influences the host country’s economic landscape. As New Delhi takes centre stage to host this prestigious event, its impact reverberates far beyond diplomatic discussions.

Mumbai recorded its best decade in the number of property registrations in August as it saw higher contribution by units priced over Rs 1 crore, a report on Thursday said. The city saw over 10,550 properties being sold in the month, a 23% year-on-year increase, and collected over Rs 790 crore in stamp duty, which rose by 22%, totaling Rs 7,242 crore in the first eight months of 2023, said the Knight Frank India report.