Citi Financial News

China for computer chips, solar panels and various consumer imports amid growing concern over Beijing's security threats, human rights record and dominance of critical industries. But even as policymakers and corporate executives look for ways to cut ties with China, a growing body of evidence suggests that the world's largest economies remain deeply intertwined as Chinese products make their way to America through other countries. New and forthcoming economic papers call into question whether the United States has actually lessened its reliance on China — and what a recent reshuffling of trade relationships means for the global economy and American consumers. Changes to global manufacturing and supply chains are still unfolding, as both punishing tariffs imposed by the administration of former President Donald Trump and tougher restrictions on the sale of technology to China imposed by the Biden administration play out. The key architect of the latest restrictions — Commerce Secretary Gina Raimondo — is meeting with top Chinese officials in Beijing and Shanghai this week, a visit that underscores the challenge facing the United States as it seeks to reduce how much it depends on China at a moment when the countries' economies share so many ties. These reworked trade rules, along with other economic changes, have caused China's share of imports into the United States to fall as the share of imports into the U.S.

Niranjan Gupta, CEO, Hero MotoCorp, says “the first target is to cross 100 cities by December, which is what we have said and we are well on track on that. Thereafter, we are going to put products in the mid and the affordable segments. That will be the plan for FY25. FY24 is about 100 cities and FY25 is about putting products in the mid and affordable segments because right now our product is at the top end of the EV market.”As part of its plan to rapidly grow the premium two-wheeler segment, Hero Motocorp has reintroduced the two-decade-old brand Karizma and launched Karizma XMR. Will you also be launching and relaunching in other segments?We already have strong products in the entry and deluxe segments. There is HF Deluxe, Splendor Plus, Super Splendor, Glamour, Passion. We brought in, of course, the Glamour and its own classic avatar and Passion again, which we relaunched. So, that part on a portfolio basis is very strong. Our job is to build a portfolio in the premium segment while in the entry and deluxe segments, it will be more about the refreshes which will keep coming.

dollar nursed its sharpest drop in a month and a half on Wednesday, as investors bet that softer-than-expected U.S. jobs data reduced the chances of further Federal Reserve rate hikes. The Japanese yen hovered around 146 per dollar following its overnight rebound from a 10-month trough at 147.375, as a drop in Treasury yields took away support for the U.S.

Muslim call to prayer will ring out more freely in New York City under guidelines announced Tuesday by Mayor Eric Adams, which he said should foster a spirit of inclusivity. Under the new rules, Adams said, mosques will not need a special permit to publicly broadcast the Islamic call to prayer, or adhan, on Fridays and at sundown during the holy month of Ramadan. Friday is the traditional Islamic holy day, and Muslims break their fast at sunset during Ramadan. The police department's community affairs bureau will work with mosques to communicate the new guidelines and ensure that devices used to broadcast the adhan are set to appropriate decibel levels, Adams said. «For too long, there has been a feeling that our communities were not allowed to amplify their calls to prayer,» Adams said.

debt by more than ₹300 crore following the sale of its Bangalore Elevated Tollway to private equity firm KKR. Private equity firm KKR completed the acquisition of a 100% stake in Bangalore Elevated Tollway (BETPL) at an enterprise value of ₹545 crore. Galaxy II, a wholly-owned subsidiary of Galaxy Investments, which is itself owned by KKR Asia Pacific Infrastructure Holdings closed the acquisition last week, a source said. The move follows an unsolicited binding offer submitted by Galaxy II for the complete interest of IL&FS' stake in BETPL.

Nirmala Sitharaman said, while exuding confidence that India will be able to manage the spillovers of high US interest rates. In a freewheeling interview with ET, Sitharaman said Prime Minister Narendra Modi will return to power in 2024 with «good numbers» as the government had delivered on its promises. She said that while some items may be experiencing inflation, «broad-basket inflation» was steady, and RBI was looking at the country's needs rather than syncing its activities with other central banks. Some individual commodities may be seeing a price surge and «all the perishables, and also vegetables, because they are all short-duration, and because of the way the monsoon (has progressed)...it (inflation) can see recurrence,» the finance minister said. «But overall, I think the basket itself is steady,» she said, adding that most central banks are becoming more considerate of growth-related concerns. Responding to a question on private sector investment, the finance minister said the buzz at last week's B20 summit couldn't have happened if Indian companies were still hesitating. «No, they now want to actively be in the game, also become big players — big, meaningful and impactful players, each according to their size.» «I think the Indian private sector has come into the game...investors are coming forward, industry is coming forward,» she said, emphatically asserting that private sector capex had taken off.

A judge ordered Kansas authorities to destroy all the electronic copies they made of a small newspaper’s files when police raided its office this month

London’s traffic cameras are under attack

A London project to create the world’s largest low-emission zone took effect on Tuesday as authorities imposed a daily charge on the most-polluting vehicles, triggering a debate between those who see the move as a sensible step to clean up the air and those who say it amounts to a war on cars. While several big European cities like Berlin and Paris also impose charges on polluting cars and trucks, London has been a pioneer on the issue. It became the first major European city to force drivers to pay a congestion fee in 2003.

tax benefits geared at stoking New York’s film-and-television-production business. The city, which owns Pier 94, also is committing more than $50 million for repairs.

An international law-enforcement operation has dismantled a network of hundreds of thousands of computers that criminals used to launch cyberattacks against critical industries worldwide, U.S. authorities said Tuesday. Investigators in the U.S., U.K., France, Germany, the Netherlands, Romania and Latvia took aim at a notorious strain of malware known as Qakbot that had infected more than 700,000 computers, took control of them and enabled them to be leased out to criminal gangs to facilitate more cyberattacks.

Gold Coast Mayor Tom Tate has picked a fight with Victorian Premier Daniel Andrews, saying cancelling theCommonwealth Games was “un-Australian” and would be the only thing he is remembered for.

Mexico City | Woodside Energy Group estimates peak production from the Trion deepwater field it is developing with Mexico’s state oil company Pemex will reach 110,000 barrels per day (bpd) by 2028, Mexico’s oil regulator said on Tuesday (Wednesday AEST).

Amazon employees have been pushing back against the company’s return to office policy for months — and it seems the ecommerce giant’s CEO has had enough

By Jody Godoy

₹4-4.5 lakh in metros while for small towns it is around ₹3 lakh," Vijay Sivaram, chief executive, Quess IT Staffing, said. “Pay difference can oscillate from 5% to 40% depending on the location .

Can a person become the owner of a flat or property merely by the virtue of being made a nominee in the form submitted to a housing society? Also, does a will or testament supersede the nomination in such a case? And, is a probate compulsory for wills? —Name withheld on request It is settled law that a nominee does not become the owner of the property. Nominee holds the property in trust for the legal heirs.

MEXICO CITY (Reuters) — Mexico's economy grew 0.8% in the second quarter from the previous three-month period, national statistics agency INEGI said on Tuesday, slightly below its preliminary estimate and prompting analysts to warn of a slowdown.

Yevgeny Prigozhin, ending a tumultuous journey from St. Petersburg street thug to Kremlin-financed mercenary leader, following a suspicious plane crash two months after his brief mutiny that challenged the authority of President Vladimir Putin.

By Clark Mindock

liquefied petroleum gas (LPG) for all of India's 330 million users. Union Information and Broadcasting Minister Anurag Thakur revealed during a Cabinet briefing on August 29, «All domestic consumers of LPG cylinders will receive a Rs 200 subsidy per cylinder. Additionally, users under the PM Ujjwala scheme will benefit from this subsidy on top of the existing one.» Minister Thakur also stated that this extra LPG cylinder subsidy would be implemented immediately, offering it as a special gift for Raksha Bandhan and Onam celebrations. This move now brings the subsidy for Ujjwala beneficiaries to a total of Rs 400 per LPG cylinder. Currently, in the national capital, a 14.2-kg LPG cylinder costs ₹1,103, more than double the rate it had in May 2020.