President Financial News

Citigroup's senior equities professionals must be breathing a sigh of relief. Following complaints about the culture in their own business, something far worse has surfaced at Stifel Europe.

Arvind Kejriwal, was accused of receiving political funding from the banned terrorist organisation 'Sikhs for Justice'. Taking action over a complaint, Delhi Lieutenant Governor VK Saxena recommended a probe by the National Investigation Agency (NIA) against Kejriwal and the AAP. Saxena's principal secretary wrote a letter to the home secretary on May 3, listing the allegations against Kejriwal and seeking the NIA probe.

Indian oil refiner Reliance Industries has resubmitted a request to the U.S. for an authorization to import crude oil from sanctioned Venezuela, three people close to the matter said, and resume oil trade between the OPEC producer and the once second-largest destination for its oil. French oil producer Maurel & Prom separately on Monday said the U.S. on Friday granted it a license to conduct oil and gas operations in Venezuela for the next two years. The U.S. in April did not renew a general license for Venezuela to export oil and fuel to its chosen markets, and gave 45 days to companies to wind down transactions. But the U.S. had said some individual authorizations to foreign firms seeking to do oil business with Venezuela would be issued.

Israel called on Palestinians to leave eastern Rafah Monday ahead of a ground invasion of the southern Gaza city, amid increasing global alarm about the consequences of such a move. The evacuation call followed disagreement between Israel and Hamas over the Palestinian militant group's demands to end the seven-month war, during weekend negotiations in Cairo.

Hundreds of Indians had dropped their plans to visit the Maldives after three Maldivian officials made derogatory comments on India and PM Modi after the latter posted photos of Lakshadweep Islands on his X handle. Since January, the number of tourists visiting the island nation declined by 42 per cent.

ABB, Schneider Electric and generator manufacturers Caterpillar and Cummins attribute rising electrical equipment sales to data centers’ expansion. Schneider last fall received a five-year, $3 billion contract from Dallas-based Compass Datacenters to provide prefabricated rooms with power management equipment that can be dropped into data centers under construction. Engine maker Cummins recently said it expects sales from its power-generation business to increase by 10% to 15% this year, up from its previously forecast 5% to 10% growth.

Russian President Vladimir Putin ordered his country’s military to test its readiness to use tactical nuclear weapons—a step the Kremlin said was a response to recent comments by Western officials, including warnings that European powers could do more to help Ukraine in its fight with Moscow. Exercises involving Russia’s navy and air force, along with units in the country’s southern military district that oversees Crimea and other parts of Ukraine occupied by Russian forces, are to begin on an undisclosed date, the Russian Defense Ministry said.

ANI, quoting the BJD leader VK Pandian. The Odisha assembly elections, along with voting in 21 Lok Sabha seats, will be held simultaneously in four phases: May 13, 20, 25, and June 1.

Basavaraj Bommai and Jagadish Shettar and AICC President Mallikarjuna Kharge's son-in-law Radhakrishna Doddamani are among the 227 candidates facing the polls in the 14 constituencies in north Karnataka on Tuesday. Ministers Lakshmi Hebbalkar, Shivanand Patil, Eshwar Khandre and Satish Jarkiholi and seeking to launch their sons and daughters in electoral politics with the LS polls. About 2.59 crore electors will cast their vote at 28,269 polling stations where voting will take place between 7 am to 6 pm.

Stocks made small gains in holiday-thinned trading as traders turned their attention to a line-up of central bank speeches this week. 

Vice President Teodorin “Teddy" Nguema Obiang was in a mood for payback. The Obiangs have run the oil-rich Central African country of Equatorial Guinea like a family ATM since 1979, accumulating mansions in Paris and Malibu, Ferraris and Bugattis, and at least three superyachts, according to court documents. And now a South African court was seizing Nguema Obiang’s two high-end Cape Town villas and the Blue Shadow, the yacht that carries his jet-ski collection while he vacations on one of the other two.

European Commission President Ursula von der Leyen said on Monday that the EU would not shrink back from taking tough measures to protect its economy and security, amid tense trade relations with China. «China that plays fair is good for all of us,» she said following trilateral talks in Paris with Chinese President Xi Jinping and French President Emmanuel Macron. «Europe will not waver from making tough decisions needed to protect its economy and its security,» she said. «We will defend our companies, we will defend our economies.»

Abhay Jain on Monday said some BJP leaders had requested him to withdraw his candidature from Indore Lok Sabha seat in Madhya Pradesh, a claim dismissed by the ruling party as «fictional» and «publicity driven». Incidentally, Jain had contested the 2023 assembly polls from Indore-1 against BJP heavyweight (and eventual winner) Kailash Vijayvargiya and had lost his deposit. Jain is contesting the Lok Sabha poll as an independent since his Janhit Party, an umbrella body of former RSS pracharaks, is yet to get recognition from the Election Commission.

FIR has been lodged against BJP national president JP Nadda, Karnataka state BJP president BY Vijayendra, BJP social media in-charge Amit Malviya after Congress filed a complaint over BJP Karnataka's social media post allegedly intimidating members of SC, ST community. Congress had earlier filed a complaint against BJP officials over a video posted by BJP Karnataka on their social media for allegedly intimidating members of Schedule caste or tribe to not vote for a particular candidate with an intention to create feelings of enmity, hatred and ill-will against members of SC/ST community. BJP was also accused of violating model code of conduct by using animated video of Congress leader Rahul Gandhi and Karnataka CM Siddaramaiah by portraying Congress party as favouring a particular religion and suppressing members of SC/ST and OBC community.

ANI, Rane claimed that he “will win the elections one-sided, with nearly three lakh votes" and asserted that local issues like floods and unemployment would be solved within one year. Also Read: Lok Sabha Elections 2024: Will Prajwal Revanna sex scandal impact BJP- JD(S) poll prospects in Karnataka? Rane has already faced two consecutive defeats. In 2014, he lost the assembly election from Kudal to the Shiv Sena’s Vaibhav Naik.

Bhubaneswar on Sunday night for the election campaign. He will hold public rallies in Brahmapur and Nowrangpur on Monday. Odisha Police have tightened security arrangements for the PM's visit.

Donald Trump accused Democratic rival President Joe Biden of running a "Gestapo administration" in a private address to donors in which he also attacked prosecutors involved in his criminal indictments, according to a recording heard by U.S. media outlets. Trump, whose own rhetoric has drawn accusations of fascist tendencies from civil rights groups and other critics, made the comparison with the Nazi police in Germany's World War Two regime at a donor retreat Saturday night at his Mar-a-Lago resort in Palm Beach, Florida.

Emmanuel Macron was on Monday set to warn Chinese leader Xi Jinping against backing Russia in the conflict over Ukraine but also seek to enlist his help in finding an end to the war. Xi is making a state visit to France marking 60 years of diplomatic relations between France and China. The trip is his first to Europe since 2019 and will also see him visit Serbia and Hungary later in the week.

Gold prices eased in early Asian hours on Monday as the dollar ticked up, while traders awaited comments from a series of Federal Reserve officials for more cues on U.S. interest rate cut timeline.

Donald Trump referred to President Joe Biden’s administration as a “Gestapo administration," marking another instance in which Trump referred to Nazi Germany in his campaign rhetoric. The comments were made to Republican donors and reported by attendees who chose to remain anonymous.

Buy or sell stocks for today: Despite strong global market sentiments, the Indian stock market ended lower on Friday. The Nifty 50 index ended 172 points lower after reaching a new peak of 22,794, and the BSE Sensex dropped 732 points from its lifetime high of 75,124.