World
Citigroup promotes most women ever to MD role- memo
Dec 14 (Reuters) – Citigroup Inc (C.N) promoted over 100 ladies to the function of managing director, the best ever for the financial institution, in response to a memo seen by Reuters.
For the financial institution, which named a complete of 331 workers in 26 international locations to the function, it’s “one of many largest and most various cohorts” in its historical past, the memo mentioned. Amongst these promoted in the USA, 37% are racially or ethnically various.
The information, first reported by Bloomberg on Tuesday, highlights the New York-based firm’s push to enhance the illustration of ladies at high ranges and encourage range.
Citigroup turned the primary main Wall Road financial institution to nominate a lady, Jane Fraser, as its chief government final yr. In 2020, its finance chief, Mark Mason, was the one Black government amongst about 80 leaders atop the six greatest U.S. banks when the homicide of George Floyd prompted a worldwide reckoning over racism.
Since then, massive banks have pledged to diversify their administration and workforce.
Citigroup mentioned in September it aimed to spice up world illustration of ladies in assistant vice chairman to managing director ranges to 43.5% in 2025 from the present 40.6%. learn extra
Reporting by Mehnaz Yasmin in Bengaluru and Saeed Azhar in New York; Modifying by Shinjini Ganguli
Our Requirements: The Thomson Reuters Belief Ideas.
World
Wrong Claims by Musk on US Election Got 2 Billion Views on X in 2024, Report Says
World
North Korea launches short-range ballistic missile hours before US election
Just hours before the U.S. election, North Korea was reported to have fired at least one ballistic missile into its eastern sea.
It remains unclear whether North Korea fired only one missile or multiple. It is also unclear what type of missile it was or how far it flew.
The launch came days after North Korean leader Kim Jong Un supervised a flight test of the country’s newest intercontinental ballistic missile designed to reach the U.S. mainland. In response to that launch, the United States flew a long-range B-1B bomber in a trilateral drill with South Korea and Japan on Sunday in a show of force.
North Korea claimed last week that the Hwasong-19 it tested last Thursday was “the world’s strongest” ICBM, but experts say the solid-fuel missile was too big to be useful in a war situation. Experts say the North has yet to acquire some critical technologies to build a functioning ICBM, such as ensuring that the warhead survives the harsh conditions of atmospheric re-entry.
DOCUMENTS REVEAL RUSSIA’S INITIAL ‘PEACE DEAL’ EQUATED TO THE SURRENDER OF UKRAINE: REPORT
South Korean officials have warned that the North was likely to ratchet up military displays around the U.S. presidential elections to command the attention of Washington.
South Korea’s military intelligence agency said last week that North Korea has also likely completed preparations for its seventh nuclear test.
Tensions between North and South Korea have been at all-time highs in recent months as Kim has repeatedly flaunted his expanding nuclear weapons and missile programs while providing Russia with munitions and troops to support President Vladimir Putin’s war in Ukraine.
In response to North Korea’s growing nuclear threats, South Korea, the United States and Japan have been expanding their combined military exercises and updating their nuclear deterrence plans built around U.S. strategic assets.
The Associated Press contributed to this report.
World
Musk’s $1m US voter giveaway can continue, Pennsylvania judge rules
The state’s top Democratic legal official says the giveaway in states likely to decide the US election is a ‘scam’.
A $1m-a-day voter sweepstakes operated by a political group established by billionaire Elon Musk can continue, a judge in the state of Pennsylvania has ruled.
Last month, the world’s richest man announced he would start the giveaway in seven battleground states likely to decide the outcome of the United States 2024 election.
Musk’s giveaway has widely been seen by many as an unsubtle attempt to secure extra votes for Republican candidate Donald Trump, who Musk has thrown his vocal and financial support behind.
Musk has given $75m to America PAC, a political action committee that has been funding various Republican candidates, including former President Trump.
Winners ‘not chosen by chance’
The Tesla CEO has already gifted $16m to registered swing-state voters who qualified for the giveaway by signing his political petition.
Pennsylvania‘s Common Pleas Court Judge Angelo Foglietta’s decision on Monday came after a surprising day of testimony in a state court in which Musk’s aides acknowledged hand-picking the winners of the contest based on who would be the best spokespeople for his super PAC’s agenda.
Previously, the 53-year-old billionaire had claimed the winners would be chosen at random.
District Attorney Larry Krasner, a Democrat, called the process a scam “designed to actually influence a national election” and asked that it be shut down.
As it was, the judge ruled in favour of Musk and his America PAC.
Musk’s lawyer, Chris Gober, said the final two recipients before the presidential election would be announced in Arizona on Monday and Michigan on Tuesday.
“The $1 million recipients are not chosen by chance,” said Gober.
“We know exactly who will be announced as the $1 million recipient today and tomorrow.”
‘They were scammed’
Chris Young, the director and treasurer of America PAC, testified that the recipients were vetted ahead of time, to “feel out their personality, [and] make sure they were someone whose values aligned” with the group.
Musk’s lawyers, defending the effort, called it “core political speech” given that participants were asked to sign a petition endorsing the US Constitution.
More than 1 million people from the seven battleground states – Pennsylvania, Wisconsin, Nevada, Arizona, Georgia, North Carolina and Michigan – have registered for the sweepstakes by signing a petition saying they support the right to free speech and to bear arms, the first two amendments to the US Constitution.
District Attorney Krasner has questioned how the PAC might use their data, which it will have on hand well past the election.
“They were scammed for their information,” Krasner said. “It has almost unlimited use.”
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