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Time of India
7 hours ago
- Entertainment
- Time of India
Why Sean Diddy Combs may still have to go to prison despite acquittal
Sean "Diddy" Combs, the hip-hop mogul who turned his music and fashion empire into a billion-dollar legacy, was acquitted Wednesday of the most serious charges against him, including racketeering conspiracy and sex trafficking. But despite the acquittal, Combs still faces the possibility of a lengthy prison sentence after being found guilty on two counts related to prostitution. Each count carries a maximum sentence of 10 years, meaning the 55-year-old music icon could still spend significant time behind bars. U.S. District Judge Arun Subramanian will decide Combs' fate at a later sentencing hearing. The mixed verdict spares Combs from a potential life sentence, but the convictions mark a serious blow to his public image and legal standing. Combs was among the most powerful entertainment figures to be swept up in the post-#MeToo reckoning, joining the ranks of disgraced names like Harvey Weinstein and R. Kelly. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Conheça o óculos militar que os homens 40+ querem Óculos Max Saiba Mais Undo Prosecutors alleged that Combs leveraged his wealth, influence, and business infrastructure to coerce women into sex acts and silence them through threats, violence, and hush money. Though cleared of sex trafficking, testimony from two former girlfriends painted a disturbing picture: both claimed Combs forced them to participate in drug-fueled orgies with male prostitutes—sometimes referred to as 'Freak Offs'—while he watched, filmed, or masturbated. Combs pleaded not guilty to all five felony counts. Since his arrest in September, he has remained in custody at a Brooklyn detention facility—a far cry from his luxurious residences in Los Angeles and Miami. Throughout the trial, Combs' mother and several of his children were seen attending court, showing family support amid a very public fall from grace. Live Events You Might Also Like: Sean Diddy Combs not guilty! Hip-hop mogul acquitted of most serious charges, convicted for prostitution-related offense Born in Harlem and raised by a single mother after his father's death, Combs dropped out of Howard University to pursue music. He rose through the ranks at Uptown Records before founding Bad Boy Records in 1993, launching the careers of artists like Notorious B.I.G., Mary J. Blige, and Usher. Beyond music, Combs cultivated an image of opulence—yachts, diamonds, and extravagant parties—while dating high-profile figures like Jennifer Lopez and launching ventures like Sean John and Revolt TV. In 2022, Forbes estimated his net worth at over $1 billion, though Fortune later reported it had dropped to around $400 million by 2024, partly due to legal troubles. Combs' business empire, prosecutors alleged, also served as a mechanism for control. Testimony revealed that employees helped arrange the sex acts and maintain the secrecy around them. Both accusers—singer Casandra 'Cassie' Ventura and another woman identified as Jane—told jurors they were physically abused and manipulated with threats of leaked sex tapes or withdrawal of financial support. Defense lawyers admitted that Combs was abusive but insisted that the sexual acts were consensual. They presented explicit messages from the accusers to argue that the relationships, while toxic, were not criminal. Even as the criminal trial ends, Combs faces a wave of civil litigation. Ventura filed a high-profile lawsuit against him in late 2023 alleging rape and repeated abuse. The case was settled the next day for $20 million. Several other civil suits—filed by both women and men—remain pending.
Time of India
2 days ago
- Business
- Time of India
Bond rally cools just as another index inclusion nears
India's breakthrough into global debt markets needs a second act. Foreign investors have bought a net $20 billion of the nation's index-eligible sovereign debt after JPMorgan Chase & Co. announced India's inclusion to its benchmark emerging market index in 2023. Recent outflows have left total investments on the low end of estimates by analysts. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Conheça o óculos militar que os homens 40+ querem Óculos Max Saiba Mais Undo This year's underperformance is stark given how emerging markets everywhere benefited from a 'Sell America' trade that spurred reallocations by investors. A Bloomberg index tracking the performance of EM local currency debt hit a record high in June, while other Asian nations from South Korea to Malaysia have seen renewed interest from funds. Bonds Corner Powered By Bond rally cools just as another index inclusion nears India's breakthrough into global debt markets needs a second act. Foreign investors have bought a net $20 billion of the nation's index-eligible sovereign debt after JPMorgan Chase & Co. announced India's inclusion to its benchmark emerging market index in 2023. Recent outflows have left total investments on the low end of estimates by analysts. India bond yields barely changed as traders eye fresh cues FPIs continue to sell G-Secs in June amid weak rupee Indian bond yields inch up ahead of large debt supply LIC Mutual Fund trims long-term bond holdings as rate-cut rally ends Browse all Bonds News with What's holding back India is a currency that has been left behind as almost every Asian peer strengthens against the dollar. The central bank's recent pivot away from more immediate monetary easing also spurred outflows, and highlights the need to attract sticky, index-tracking funds. The $3.4 billion of bond sales from April reinforces the call for more reforms before the nation joins another global debt benchmark in September. 'Indian bonds primarily attracted active investors rather than passive, structural flows,' said Nitin Agarwal, head of trading at Australia and New Zealand Banking Group. 'The theme for active investment in India was monetary policy, which has now played out, and the bond rally is perceived to have run its course.' Live Events The nation's bonds officially entered JPMorgan's index in June last year. Indian sovereign bonds posted a return of 2% in dollar terms in the second quarter, against 5% by a gauge of emerging-market debt. A rally in benchmark 10-year bonds earlier this year — with yields dropping by about 50 basis points — has more or less stopped. The monetary and currency policies of the Reserve Bank of India have become the key drivers for the nation's debt this year. After the RBI slashed its benchmark interest rate by 50 basis points in June, it switched to a neutral policy stance, signaling limited room for further easing. Meanwhile, the rupee's absence from the emerging market rally also has dampened appetite for Indian bonds. The currency is little changed versus the dollar this year, lagging well behind the Taiwan dollar's 13% surge and the South Korean won's 8.6% gain. 'For foreign investors, total returns in local currency bonds are driven by both bond returns and FX returns,' said Nagaraj Kulkarni, co-head of Asia rates (ex-China) at Standard Chartered Plc in Singapore. 'On the FX, the rupee has been an underperformer in the region even in the recent bout of USD weakness.' The RBI's decision to build up foreign reserves to fend off rising economic and geopolitical risks has weighed on the rupee, and the recent bond outflows have in turn further pressured the currency. The outflows from April have prompted policymakers to act. The Securities & Exchange Board of India relaxed some rules in June for overseas investors, while the RBI allowed the operation of electronic trading platforms to facilitate more foreign participation. More reforms will be needed, according to investors such as Kenneth Akintewe, head of Asia sovereign debt at Aberdeen Investments. Chief among the structural hurdles is the nation's high tax burden. There's a 20% interest income levy, while short-term capital gains on bonds can be as high as 30%. 'When you are managing a global portfolio, it is easier to ignore or bypass a market if there are too many impediments to accessing the market,' said Akintewe. Still, there's optimism among some investors that India's debt markets will bring in more foreign funds. A domestically-driven economy makes it more resilient to Donald Trump's tariffs, while the government has demonstrated strong fiscal discipline. What Bloomberg Economics Says... 'India's federal government has rapidly shrunk its fiscal deficit - caused by a stimulus blowout to address the Covid pandemic. It's set to hit its goal of lowering the budget deficit to below 4.5% of GDP in fiscal 2026 and further out aims to cut the federal debt as a share of GDP without committing to any growth-reducing deficit targets.' — Abhishek Gupta, senior India economist 'What international investors like about India's bond market is similar to the reasons that they like the Chinese bond market — because of its own individual policy making, more domestically-focused economic activities,' said Yifei Ding, fixed-income portfolio manager at Invesco Hong Kong Ltd. 'Given the size of the Indian economy and the size of the Indian fixed-income markets, it's not difficult for India to see high single digits foreign ownership in its government bond space,' Ding said. Global funds only take up 3% of the nation's $1.3 trillion sovereign bond market, compared with 5.8% in China, as of the end of May, according to Bloomberg calculations of official data. The next milestone will be in September, when FTSE Russell begins to include Indian debt into an emerging-market index. Meanwhile, Bloomberg Index Services Ltd. already started adding rupee notes in one of its gauges in January over a 10-month period. Bloomberg LP is the parent company of Bloomberg Index Services, which administers indexes that compete with those from other service providers.
Time of India
09-06-2025
- Business
- Time of India
Warner Bros Discovery shares surge 8% after it announces splitting streaming from cable TV
Warner Bros Discovery said it would split into two publicly traded companies, separating its studios and streaming business from its fading cable television networks as the parent of HBO and CNN looks to compete better in the streaming era. The breakup announced on Monday is the latest sign of the great unraveling of decades of media consolidation that have created global conglomerates spanning content creation, distribution and in some cases, telecommunications. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Homens acima dos 40 anos estão comprando esse óculos militar Óculos Max Saiba Mais Undo It unwinds WarnerMedia and Discovery's 2022 merger, giving the streaming and studios business more room to scale without being weighed down by the declining networks unit. The new streaming-and-studios company will include Warner Bros, DC Studios and HBO Max - the crown jewels of WBD's entertainment library. The networks unit, which will hold up to a 20% stake in its counterpart, will house CNN, TNT Sports and Bleacher Report. Live Events CEO David Zaslav will lead the streaming and studios unit after the breakup, while CFO Gunnar Wiedenfels will head the networks unit. The separation will be structured as a tax-free transaction and is expected to be completed by mid-2026. "By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today's evolving media landscape," Zaslav said. Majority of the company's debt would be held by the global networks company. WMD had a gross debt of $38 billion as of March. Shares of WBD rose 8% in premarket trading, but the stock remains down nearly 60% since the merger, hurt by cable subscriber loss, tough streaming competition and investor concerns over the debt-laden company's direction. Media executives had initially anticipated a wave of consolidation under the Trump administration, though that has not come to pass. "For a series of reasons, that proved harder than anyone thought," said Jonathan Miller, a veteran media executive who now serves as chief executive of Integrated Media. "It looks like the characteristic of this year will be how do we get our house in order, and do what we can that's under our control." Comcast is spinning off most of its NBCUniversal cable networks portfolio into a separate company, Versant. Lions Gate Entertainment completed the separation of its Starz cable network from its film and television studio in May. Brian Wieser, CEO of Madison and Wall, an advisory firm for media, technology and other companies, said the split won't fix the underlying weakness of Warner Bros Discovery's business. "If anything, (it) could make them worse off by favoring financial engineering over focusing on improving existing operations or pursuing new opportunities for growth given the way in which a deal like this can hamstring both sides of the company until the transactions are closed," said Wieser. Last week, about 59% of WBD shareholders voted against executive pay packages, including Zaslav's $51.9 million 2024 compensation, at the annual shareholder meeting, in a symbolic criticism of the company's leadership. Like other entertainment companies, Warner Bros Discovery is struggling with declining ratings and revenue at its cable networks, as consumers abandon their pay-television subscriptions in favor of streaming services. "WBD is a hotchpotch of businesses which have failed to win over the market. (With the split) Warner Bros has a better chance to gain broader investor interest and focus management on fewer things," said AJ Bell analyst Dan Coatsworth. WBD had laid the groundwork for a sale or spin-off of its declining cable TV assets in December by announcing a separation from its streaming and studio operations. The split comes as WBD tries to position its streaming service as a premium destination with titles such as "The Last of Us" and "Hacks," after initially betting that a blend of HBO dramas and Discovery's lifestyle content would broaden its appeal. It revived the HBO Max branding last month to aid the global expansion of its streamer that had about 122 million subscribers as of March and expects its subscriber base to exceed 150 million by the end of 2026. That would still trail Netflix's more than 300 million subscribers and the combined 181 million subscribers of Disney+ and Hulu. MORE DEALS Some analysts said the breakup could set the stage for more deals in the media sector, pointing to Comcast's plan to spin off most of its cable networks, including MSNBC and CNBC. "The outlook for the cable network business broadly is pretty ugly and I assume there will be consolidation there," said Jeff Wlodarczak, analyst at Pivotal Research Group. He said WBD's cable networks could be a logical fit for Comcast's upcoming cable spinoff, while its streaming and studios business might combine with another player such as Comcast's Peacock. Any merger will require approval from Trump administration's antitrust regulators who have signaled they intend to focus on mergers that lower competition in ways that harm consumers or workers. Zaslav has said he expects a more deal-friendly environment under a Trump administration. But during his first term, Trump repeatedly attacked CNN, and his Department of Justice moved to block the AT&T-Time Warner merger. WBD said on Monday it secured a $17.5 billion bridge loan from J.P. Morgan that it would use to restructure its debt. J.P. Morgan and Evercore are advising WBD on the deal, while Kirkland & Ellis is serving as legal counsel.
Time of India
02-06-2025
- Automotive
- Time of India
One Side Of Mankapur RoB Closed For Repair, Traffic Cops Don't Know
1 2 Nagpur: A contractor appointed by the National Highway Authority of India (NHAI), responsible for the maintenance of Mankapur flyover, has closed one side of the flyover to repair cracks that surfaced more than a month ago. The contractor has not taken permission from the traffic department to close one side (Katol to Nagpur) of the flyover, said sources. The repairs will take 100 days. The contractor's move to stop traffic movement by closing one side of the flyover without the nod of traffic department has irked cops as well as citizens, who fear that taking such steps without proper permission can lead to accidents. The closure led to a massive traffic jam on the flyover as one side is accommodating two-way traffic, and the road below the flyover is already narrow. The Mankapur flyover, built on National Highway 69 as part of the Nagpur-Betul road widening project, has developed cracks for the second time. TOI had reported that cracks have appeared on the flyover and that the contractor has closed a part of the flyover for repair work, but traffic movement was continuing. At that time, the contractor had not taken permission to carry out the work. ACP (traffic) Madhuri Bawiskar said that the contractor has not taken permission from the traffic department to close one side of the flyover. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Conheça o óculos militar que os homens 40+ querem Óculos Max Saiba Mais Undo "We will now call NHAI officials and the contractor, and ask how can they close one side of the flyover for traffic movement without taking permission from traffic police," said the official. A senior NHAI official confirmed that the contractor is yet to receive permission from the traffic department. "The contractor has applied for the permission and is likely to get it soon. The repair work will take around 100 days, during which one side of the flyover will remain closed," said the official. Sources in the NHAI said that after the cracks were spotted, an inspection was carried out. "The contractor initially wanted to repair the cracks but will now completely replace the 25 to 30-metre span. The repairs would have decreased the strength of the flyover, which is why the span is being replaced," said NHAI sources. The flyover, built as part of the Rs1,800 crore Nagpur-Betul Project, was opened in 2014. The flyover is supposed to be maintained until 2032 by the contractor who built it.
Time of India
02-06-2025
- Politics
- Time of India
Jenu Kuruba leaders refuse to call Nagarahole a tiger reserve
Mysuru: Jenu Kuruba tribal leaders from Karadikallu Atturu Kolli Haadi inside the Nagarahole Tiger Reserve in Ponnampet taluk of Kodagu district said on Monday that they will never call Nagarahole a tiger reserve. This is not a tiger reserve. It is just Nagarahole. We were forcibly moved out of our soil in the name of forest-tiger protection, Shivu JA, JK Timma, and Shivamma said. Speaking at a press meet organised by the Nagarahole Indigenous Land Assertion Committee, People's Union for Civil Liberties (PUCL), and Communities Network Against Protected Areas (CNAPA), they alleged that those who don't know anything about the forest are encroaching on the forests in the name of conservation. Shivu stated that all the 52 Jenu Kuruba families now staying in their ancestral land are happy with what is available inside the forest now. "For decades, we were made to struggle in the lane houses," he said. He alleged that forest department officials misused the provisions of the law to displace them. Timma recollected his experience with a tiger conservation project where he demonstrated his understanding of the forest. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Homens acima dos 40 anos estão comprando esse óculos militar Óculos Max Saiba Mais Undo "Unfortunately, those who don't know anything about the forest and wild animals are allowed to encroach on the forests while those who know the forest are sent out of the forests," he charged. He alleged that the tiger conservation projects resulted in the death of tigers. Shivamma urged govt agencies not to displace them as they are leading a real life in their own hamlets. Nitin Rai, an independent scholar who has looked at the socio-ecological impacts of wildlife conservation, and Pranab Doley, a community leader from the Mising community, Kaziranga, Assam, and convener of the Greater Kaziranga Land and Human Rights Committee, who is also the founding member of CNAPA, spoke during the press meet. Rai alleged that govt agencies are misusing the increase in the number of tigers to dilute the forest laws for the benefit of mining and other activities.
