Citi Financial News
21.12 / 06:31
UPS
Citi
Strategy
film
War
Russia taps Soviet-era stockpiles as armored-vehicle supply dwindles
Subscribe to enjoy similar stories. KYIV—When the director of Russia’s largest film studio met President Vladimir Putin in the Kremlin last month, he made sure to highlight how he had supported the war effort—by handing over dozens of tanks and armored vehicles dating back to the 1950s. The company, Mosfilm, had used armored vehicles from the Soviet era as props for decades.
21.12 / 03:03
markets
Citi
Digital
Man
Strategy
Software
PAM
At least 2 dead and 60 hurt after car drives into German Christmas market in suspected attack
Verified bystander footage distributed by the German news agency dpa showed the suspect's arrest on a walkway in the middle of the road. A nearby police officer pointing a handgun at the man shouted at him as he lay prone. Other officers soon arrived to take the man into custody. The two people confirmed dead were an adult and a toddler, but officials said additional deaths could not be ruled out because 15 people had been seriously injured.
21.12 / 01:15
markets
Citi
Man
Death
show
shock
medicines
Two dead, 60 hurt after car plows into crowd at Christmas market in Germany
Christmas market in the eastern German city of Magdeburg on Friday, killing at least two people and injuring at least 60 others in what authorities called a deliberate attack.The driver was arrested at the scene shortly after the car barreled into the market at around 7 p.m., when it was teeming with holiday shoppers looking forward to the weekend.Verified bystander footage distributed by the German news agency dpa showed the suspect’s arrest on a walkway in the middle of the road. A nearby police officer pointing a handgun at the man shouted at him as he lay prone.
20.12 / 20:35
markets
Citi
CEO
Software
information
reports
Party City to close all US stores amid bankruptcy proceedings
Party City will close all of its locations in the US due to ongoing bankruptcy proceedings. Employees were told by the CEO that closures would differ depending on the location, with some staying open until February 2025. The retail chain's decades-long presence in the market came to an end when the precise shutdown dates were not made public, as quoted in a report by Times Now. After 40 years in the US market, the retail chain Party City is scheduled to close all of its locations due to the ongoing bankruptcy. According to reports, the CEO of the retail chain informed corporate staff on Friday that all of the chain's locations would close. Nevertheless, the precise dates of the stores' closure have not been disclosed.
20.12 / 19:25
markets
Citi
Digital
Software
Sustainability
Experts
PAM
World Bank Okays $800 M Loan to Develop Amaravati
The multilateral body's financing will also catalyse more than $600 million in private sector investment to help the city become financially sustainable, it said in a statement. «The $800 million loan requested by the Government of India to develop Amaravati as an economic hub and state capital for Andhra Pradesh, has a final maturity of 29 years, including a grace period of six years,» it said.
20.12 / 19:03
Citi
Netflix
Football
FIFA
exclusive
reports
International
FIFA signs Netflix to US broadcast deal for the Women's World Cup in 2027 and 2031
FIFA has signed Netflix to a United States broadcast deal for the Women’s World Cup in 2027 plus the 2031 edition that could be played in the U.S. The deal announced Friday is the most significant FIFA has signed with a streaming service for a major to...
20.12 / 14:43
markets
Citi
Manufacturing
Software
awards
Pride
2020
Isuzu Motors reaches 1 lakh vehicle milestone in Chennai
Isuzu Motors has reached a production milestone by rolling out one lakh vehicles from its manufacturing facility near Chennai, the company said on Friday. A maroon Isuzu D-MAX V-Cross was rolled off the assembly line, marking the occasion at the facility located in Sri City, Tada, about 100 km east of Chennai. Isuzu Motors India began operations in 2016 and, in 2020, launched its phase-II operations with the inauguration of a state-of-the-art press shop facility and an engine assembly plant. «At Isuzu Motors India, we take immense pride in our journey here in India. Over the years, the company has achieved significant milestones in both production and exports. One key highlight is that about 22 per cent of our production line workforce comprises talented women,» company president and managing director Rajesh Mittal said.
20.12 / 06:51
markets
Citi
Fighting
Entertainment
wellness
Comcast
Sporting
76ers win city council nod to build $1.3B downtown stadium and leave South Philadelphia
The Philadelphia 76ers have won city council approval for a $1.3 billion downtown arena despite vocal opposition from nearby residents
20.12 / 04:35
markets
Citi
CEO
Strategy
Software
MDC
reports
Sean Diddy and Luigi Mangione will now share the 'Hell on Earth' as well as a lawyer
Luigi Mangione and Sean «Diddy» Combs, now have two things in common: they share the same prison and the same lawyer. Mangione, accused of killing UnitedHealthcare CEO Brian Thompson, has been transferred to Brooklyn's Metropolitan Detention Center (MDC), where Combs is also being held amid a series of sexual assault lawsuits. Incidentally, Mangione's lawyer is also defending rapper Sean «Diddy» Combs in a separate sex-trafficking case. Mangione was arrested in Pennsylvania after a five-day search and brought to New York. CNN and ABC News report that he is now in federal custody at the MDC. “Mangione appreciates everyone’s support,” said Karen Friedman Agnifilo, Mangione’s lawyer and the wife of Marc Agnifilo.
20.12 / 03:07
Citi
CEO
Opinion
War
fun
innovations
Traffic
Delhi CEO pokes fun at Bengaluru’s language war, says Delhi NCR is better; netizens slam him for being ‘tasteless’
recruitment post has sparked the ire of netizens and reopened the age-old language debate that has emerged as one of the red-button subjects in Bengaluru. While the city is often called the ‘Silicon Valley’ of India and is renowned for its vibrant startup culture, several red flags about India’s tech paradise have recently emerged: traffic problems, sky-high rents, and the language debate. Delhi-based entrepreneur Vikram Chopra recently took a potshot at Bengaluru’s language issue. In a hiring post addressed to techies, the CEO of Cars 24 wrote, “Still can’t speak Kannada after years in Bengaluru? It’s okay. Aa jao Dilli (come to Delhi).” He added that his firm was on the lookout for ‘kickass’ engineers who wished to stay close to home. “We are not saying Delhi NCR is better. Only that it really is. If you wish to come back, write to me at [email protected] with the subject — Delhi meri jaan,” he wrote.
20.12 / 03:07
markets
COST
UPS
Citi
Analysis
Trade
IOC shares in focus as co plans to invest over Rs 21,000 cr in Bihar refinery expansion
Indian Oil Corporation (IOC) are in focus after a senior executive of the company stated that it will invest over Rs 21,000 crore to expand its Barauni refinery in Bihar and establish a city gas distribution network across the state. IOC is upgrading the Barauni refinery from a capacity of 6 million tonnes per annum (mtpa) to 9 mtpa, along with a petrochemical plant, at an estimated cost of Rs 16,000 crore.
20.12 / 02:03
UPS
Citi
Landmark
economy
Death
country
Pedestrian pay-off: Let footpaths lead India’s way to faster economic growth
Subscribe to enjoy similar stories. In a Peak Bengaluru moment this month, a walking tour group organized a 15-day ‘BLR Walkfest,’ getting people to find out if the city is ‘walkable.’ True to the city’s brand-it-and-we’ll-do-it culture, about a hundred people signed up for every walk, which included talks on historic landmarks and lots of filter-coffee drinking, to see if they could do what millions of Indians do daily—use pavements to get around the city on foot. Many Indians ride in cushy carriages all their lives without ever stepping on a footpath, but a vast majority, most of them poor, either walk to work or work on paved sidewalks.
20.12 / 00:43
markets
Citi
Platform
Research
DAL
show
Bharat Dal, coming soon to an online grocer near you
Subscribe to enjoy similar stories. New Delhi: Virtual shelves of online grocers such as Amazon, Flipkart and Swiggy may soon see the debut of an unlikely item: Subsidized dal from the Government of India. The ministry of consumer affairs is expected to mandate e-commerce companies to offer cheaper pulses under the Bharat Dal scheme on their platforms, two people aware of the matter said.
20.12 / 00:43
markets
Citi
Analysis
Sustainability
trends
Trade
recommendations
Stocks to buy: Two stock recommendations from MarketSmith India for 20 December
Subscribe to enjoy similar stories. Nifty50 extended its losses for the fourth consecutive session and closed at 23,951 on Thursday. Taking cues from the global market, the index started the day with a gap-down opening at 23,877.15 and traded sideways in a narrow range of 24,870.30-24,004.90.
19.12 / 16:57
markets
Citi
Digital
Man
Software
Investigations
boating
Mumbai ferry accident: One more body recovered, toll rises to 14; Navy orders probe
Navy craft rammed into their ferry off the Mumbai coast, was found on Thursday, taking the toll to 14, said police as the Navy launched a probe into one of the deadliest crashes in the city's harbour area. A day after the crash, the body of the 43-year-old man was found near the ferry, police said. Search operation continues to locate a seven-year-old boy who is still missing, a police official added. A naval helicopter and boats of the Navy and Coast Guard were deployed on Thursday to look for the missing passengers. Eight boats, including those from the Navy and Coast Guard are involved in the Search and Rescue (SAR) operation, the official said.
19.12 / 16:57
Citi
Mobile
Metro
WhatsApp
wellness
country
India to soon have second largest metro network in world: Manohar Lal
largest metro network in the world, Union Housing and Urban Affairs Minister Manohar Lal has said, underlining that 997 kilometres of metro rail is currently under construction in the country, an official statement stated on Thursday. In his address to consultative committee members of Parliament attached to the HUA ministry on Wednesday, the minister said that the government is working relentlessly to strengthen the urban transport network across the country, the statement stated. Manohar said that urban mobility is an important aspect to tackle the rising urban population, adding that India will soon have the second largest metro network in the world. «About 993 kilometres of metro rail is operational in 23 cities across the country and about 997 kilometres is under construction in 28 cities in the country...India is well on its way to have the 2nd largest metro network of the world,» the statement quoted the minister as saying.
19.12 / 15:49
Citi
Action
Southern
President
country
rights
International
Thousands of Amazon workers strike during pre-Christmas rush
Subscribe to enjoy similar stories. Thousands of Amazon.com workers went on strike Thursday during the crucial run-up to Christmas over contract negotiations and the company’s refusal to recognize the Teamsters labor union. The International Brotherhood of Teamsters, the union that represents the Amazon employees, called the action the largest ever strike against Amazon by U.S.
19.12 / 15:37
Citi
country
reports
Courts
Investigations
City Minister Tulip Siddiq embroiled in £4bn anti-corruption probe - reports
Siddiq, whose ministerial brief includes stamping out corruption in the UK's financial sector, is alleged to have brokered a deal with Russia in 2013 that inflated the price of a new nuclear power plant in Bangladesh at a time when Siddiq's aunt, Sheikh Hasina, was prime minister of the country, according to court document seen by the Daily Mail. The probe is part of a wider investigation into Siddiq's family by Bangladesh's Anti-Corruption Commission (ACC), after her aunt was ousted as prime minister and forced to flee the country in August this year. Tulip Siddiq: FCA 'has gone too...
19.12 / 14:31
markets
Citi
Target
FIVE
reports
International
Ajmera bets on acquisitions, JVs to expand m-cap to $5 billion
Subscribe to enjoy similar stories. MUMBAI : Mumbai-based Ajmera Realty and Infra India Ltd aims to expand its market capitalization (m-cap) by 10x to $5 billion through acquisitions and joint ventures (JVs), said Dhaval Ajmera, director at Ajmera Group. Ajmera added that to achieve the goal, the company is targeting at least 25-30% growth each year in terms of volumes, sales, and profitability.
19.12 / 12:29
markets
UPS
Citi
Digital
Software
rights
Israel keeps up Gaza bombardment as ceasefire talks intensify
The mediators, at talks in Egypt and Qatar, seek to forge a deal to pause the 14-month-old war in the Hamas-ruled enclave that would include a release of hostages seized from Israel on Oct. 7, 2023, along with Palestinian prisoners held by Israel. Mediators had managed to narrow some gaps on previous sticking points but differences remained, the sources said.
19.12 / 11:27
Citi
Reuters
Southern
President
country
rights
Teamsters union launches historic nationwide strike against Amazon: 'Paying the price'
Liz Bentley Associates President and founder Liz Bentley discusses the benefits of remote work as some businesses push for their employees to return to the office full-time.
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