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☆ Citibank: Judge rules in bank's favor in case against analyst it sacked for claiming his partner's meals on expenses and lying about it
▼ + stars: | 2023-10-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Citibank has won an employment tribunal case brought by an analyst it sacked for claiming expenses for meals he shared with his partner, and then lying about it. I accept that the respondent requires a commitment to honesty from its employees,” employment judge Illing said in the ruling. According to a transcript of an email exchange, included in the employment tribunal ruling, after Fekete filed the expense claim, his manager asked whether he had bought all the food for himself. At the time, he also had work concerns and experienced a “lack of support” from the company, according to the analyst. Citi’s expenses policy, parts of which are detailed in the ruling, also states that employees must list all attendees whose meals they submit for reimbursement.

Persons: Szabolcs Fekete, “, Fekete, Illing, ”, ” Fekete, — Organizations: London CNN, Citibank, Citigroup, Financial Times, Citi, CNN, LinkedIn Locations: Amsterdam

LONDON (AP) — A financial analyst who was fired by Citibank after claiming a two-sandwich lunch on expenses has lost a legal battle for wrongful dismissal. A British judge has ruled that the bank was entitled to sack Szabolcs Fekete for gross misconduct because he lied when he claimed to have consumed two sandwiches, two coffees and two pasta dishes during a work trip, when he had really shared them with his partner. Fekete, a financial crime expert working for the bank in London, sued for wrongful and unfair dismissal. But he continued to claim he ate all the food himself. Fekete later claimed he had been undergoing personal problems after the death of his grandmother, was on medical leave from work and was on medication while he was answering emailed questions about his expenses claim.

Persons: Szabolcs Fekete, Fekete, ” Fekete, Caroline Illing, Citibank “, ” Organizations: Citibank, British, Financial Locations: London, Amsterdam

☆ A banker was fired after trying to expense 2 sandwiches, 2 pastas, and 2 coffees, and saying he ate everything himself — before later admitting he shared them with his partner
▼ + stars: | 2023-10-16 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

The banker later admitted that he had shared the food with his partner and was fired by Citibank. In response, Mr Fekete's senior manager said that the receipt "appears to have two sandwiches, two coffees, and another drink . The bank also questioned whether he had shared two dinners of pesto pasta and pasta Bolognese with his partner, but Mr Fekete said that this was not the case. Mr. Fekete argued that there were mitigating factors, including the recent loss of his grandmother and that he was on strong medication when he replied to the emails. AdvertisementAdvertisementJudge Illing, presiding over the case, concluded that his dismissal was fair, as Mr. Fekete was not initially honest about the misclaimed expense.

Persons: —, Szabolcs Fekete, Fekete's, Fekete, Mr Fekete, expensed, Illing Organizations: Citibank, Service, Banking Locations: Amsterdam

☆ $70 billion Los Angeles retirement plan says higher rates may 'change everything' and portfolio moves are coming
▼ + stars: | 2023-04-19 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

A year into the most significant period of Federal Reserve rate hikes in decades, you might think investors had already cemented their investment portfolio strategies for a higher interest rate world. According to LACERA's 2022 annual report, its investments were split between roughly $24 billion in public equities, $19 billion in bonds, $13 billion in private equity, $6 billion in real estate, $4 billion in hedge funds and $1 billion in real assets. Last year was the first in the prior three fiscal years that the pension fund's investment portfolio lost money. By contrast, investment returns of 25.2% in 2021 were far ahead of the 7% percent, which LACERA attributed to the strong performance from global equity and private equity assets. A shift to more fixed income among top investors will flow through to the "whole economy," Grabel said.

☆ Ukraine's young circus artists wow Budapest after training in bomb shelters at home
▼ + stars: | 2023-01-03 | by ( Krisztina Fenyo | ) www.reuters.com time to read: +2 min

[1/5] Ukrainian Mariia Kravchenko, a participant of the Yaskrava Arena Dnipro International Children's Circus Festival practices before the competition in Budapest, Hungary, January 1, 2023. Circus artist Mariia Kravchenko, aged 13, from the eastern Ukrainian city of Dnipro, had trained for the circus festival in unheated shelters amid the Russian attacks. The Yaskrava Arena Dnipra international children's circus festival was launched in 2010 by an NGO called Bright Country (Ukraine). Before the war, it was held every year in December at the Dnipro State Circus. Since it began, more than 1,000 young artists from all over Ukraine, as well as Lithuania, Hungary, Germany, Moldova and Poland, have participated in the festival.

☆ India and climate change: Can Modi deliver what the world needs?
▼ + stars: | 2022-11-07 | by ( Tara Subramaniam | ) edition.cnn.com time to read: +10 min

By 2030, Modi wants half of India’s energy to come from renewables. The state is fast becoming a hotbed of solar energy, yet is also home to at least seven coal-fired power plants. “Even during Covid it hasn’t stopped.”At COP26, Modi outlined a series of targets for India’s efforts to combat climate change. It’s also a question of funding – investing in renewable energy and other climate change mitigation efforts is expensive. And your other burning questions answered 03:37 - Source: CNNIf India doesn’t receive the financial support it needs, maintaining its pace on developing renewable energy will be difficult.

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