David Livingstone, chief client officer at Citi, discusses the bank's announcement to invest $1.5 billion in their U.K. headquarters.

London

Citi has reiterated its strong commitment to investing in the UK, emphasizing London's strategic advantages as a global financial centre. The bank noted the city's robust talent pool, established infrastructure, and advantageous time zone positioning as key factors supporting its ongoing investment, including the refurbishment of its headquarters.

Despite the emergence of other financial hubs such as Dubai, Citi stated that London remains its second largest market by returns and has not experienced the significant job losses predicted after Brexit. The bank also stressed the continued importance of physical presence for collaboration and innovation in financial services, even as technology enables more remote work.

Citi: UK investment makes 'all the sense in the world'

Well, the UK has always had the fantastic characteristics. It's perfectly positioned from a time zone point of view as an international headquarters. It has great talent. The other services and capabilities that exist in the financial center of London are fantastic. And so it makes all the sense in the world for us to have a huge commitment here. We have 14,000 people in the UK, 10,000 in London, and hence why we have been, over the last number of years, investing in the refurbishment of our headquarters for the next 25 years, given that it's already a 25-year-old building. You talk about great talent being one of the key draws here. And I think there is certainly no doubt about it. There is an incredible pool of talent here. But increasingly, you're hearing from that talent that there's just not the jobs that they want, whether it be on the fund management side or on the banking side. And we're seeing a lot of finance executives and fund managers look elsewhere. Dubai, in particular, what are you observing on this front? And how are you thinking about that as you decide where to invest for the future? To us, it's not an either-or. There's definitely growth in other financial centers. Dubai, you've mentioned, and across the Middle East. And there's growth in all aspects of financial services. But London remains the place where we have the biggest international footprint. It's our second biggest market from a returns point of view. And so it makes all the sense in the world for us to continue to have very significant roles here in London. Yeah, and I think the thing to point out to our international viewers, which, look, no other city on the world's got some magnificent financial centers out there. But none of you have got two massive financial centers. And we do, don't we? Well, three if you include Mayfair. But that's another niche. But we do. We have two enormous financial centers. I'm not sure how niche it is. Berkeley Square. Yeah, well, you've got Berkeley Square for the hedge funds. You've got the City of London, which is a traditional. You've got Canary Wharf as well. So my very basic question is, did we lose all those jobs, in your opinion? Did we lose that preeminence that many people thought we would lose post-Brexit, in your opinion? Not at all. I've argued this for a number of years, that this belief that there would be a hollowing out of London. 75,000, 100,000 jobs, they said? And for us, the number of jobs that actually move, roles that move from London to Europe were counted in the hundreds. Yes, we've grown our European footprint. And our headcount, we were already present in two dozen of the markets there pre-Brexit. And we've increased our footprint, but not at the cost of London. We're up in London, compared with pre-Brexit. David, why does it still matter in the 21st century, where everyone from the day traders to the most sophisticated algorithmic traders, or whoever it may well be, the great city employers as well, everyone can do this electronically as well. Why does a financial center matter? Because physical contact continues to matter. And it matters for thought leadership, matters for the passage of ideas, for the training of people, for the vibrancy of a culture of an organization. You just don't get it remotely. I'll just say, Karen's coming in, but I feel that. Look at us. I'm looking in your eyes. I don't know, we are animals. I know that people don't like to think we're always all so physical. But the physical contact, what I can learn from looking at you, or kind of your nuances and what have you, way better than looking at you down a Zoom call. I've got to be honest. And it matters, doesn't it? Especially in deal making. It matters, I think, in all aspects. And I may not go with your animals, but we are. You're better off not. We have certain characteristics that thrive on physical contact. We're better together, but we're also enabled by technology now in a way that I think that's the dividend that came out of the COVID period.

U.S. President Donald Trump addressed the United Nations General Assembly in New York City, where he pushed back on countries that have formally recognized a Palestinian state. Trump also touted U.S. immigration policy.

New York

Trump delivers address at U.N. General Assembly

Southern China and Hong Kong are bracing for Super Typhoon Ragasa as authorities evacuate hundreds of thousands of people. CBS News' Anna Coren has more details.

Hong Kong Island

Super Typhoon Ragasa targets Southern China, Hong Kong

Russian President Vladimir Putin offered to voluntarily maintain the limits on deployed strategic nuclear weapons set in the 2010 New START accord after it expires in February if the U.S. agreed to do the same.

Moscow

Putin offers Trump one-year extension to nuclear weapons treaty

Nvidia will invest up to $100 billion in OpenAI and supply it with data center chips, the companies said, marking a tie-up between two of the highest-profile players in the global artificial intelligence race.

San Francisco

Rise of AI

Nvidia to invest $100 billion in OpenAI, linking up two AI titans

President Trump announced Monday the FDA believes pregnant women should not take acetaminophen, the active ingredient in Tylenol, claiming there could be a link between the medication and autism, despite objections from medical experts.

Washington

Trump, FDA tell pregnant women not to take Tylenol

ABC announced Monday that "Jimmy Kimmel Live!" will return to the air Tuesday night (September 23). The network pulled the show last week following a remark from Kimmel about the death of Charlie Kirk.

Los Angeles

Jimmy Kimmel returning to air

As leaders from around the globe come together at the United Nations General Assembly in New York this week, conflicts in Gaza and Ukraine continue to rage.

World leaders come together at UNGA as global tensions rise

Monday marks the second day of strike action after a similar walk-off was called on Sunday by the southern European country's largest trade union, the Italian Confederation of Labour (CGIL).

Rome

Middle East Conflict

Thousands strike across Italy in solidarity with Palestinians in Gaza

The Trump administration is adding $100,000 to the existing fee for H-1B visa applications, taking aim at a program that is used to attract highly skilled workers to the U.S.

Trump administration to add $100,000 fee for H-1B visas

President Donald Trump urged Attorney General Pam Bondi in a social media post to move forward with cases against several people connected to the U.S. government. CBS News justice correspondent Scott MacFarlane has more.

Trump urges Pam Bondi to go after his political foes

Russia is denying that its planes entered Estonian airspace on Saturday, according to Kremlin spokesman Dmitry Peskov, but Estonia's foreign minister is saying the government has "irrefutable evidence" of the incursion.

Ukraine Invasion

Russia denies violating Estonian airspace

U.S. President Donald Trump was the final speaker at a politically charged memorial service for conservative activist and MAGA influencer Charlie Kirk that also included words of forgiveness from Kirk’s widow as well as remarks from the vice-president and one of Trump’s sons.

Glendale

Trump closes out Charlie Kirk memorial

Media mogul Lachlan Murdoch and business leaders Larry Ellison and Michael Dell would be involved as U.S. investors in a proposed deal to keep TikTok operating in the United States, according to President Donald Trump speaking to Fox News channel.

Trump says Murdochs would be involved in TikTok deal

Portugal, the UK, Australia and Canada joined over 150 countries that now recognise a Palestinian state. The announcements come ahead of the United Nations General Assembly in the week ahead.

Lisbon

Portugal formally recognises Palestinian state

Police say a 23-year-old was arrested and charged Sunday night with second-degree murder after one person was killed and several others were injured in a shooting at a New Hampshire country club. Witnesses say the shooter said “free Palestine” and before opening fire.

Nashua

Suspect yelled 'free Palestine' before country club shooting

President Trump is demanding that the Justice Department go after his political rivals following a shakeup in the U.S. Attorney's Office in Eastern Virginia. Willie James Inman reports.

Trump pressuring Justice Department to pursue his political foes

President Trump, Vice President JD Vance and several others remembered Charlie Kirk at a memorial service in Arizona that was attended by thousands.

Phoenix

Trump, others remember Charlie Kirk at memorial service

The United Kingdom, Canada and Australia officially recognized Palestine as a state Sunday, a move that has long been opposed by the U.S. and Israel. More countries are expected to do the same this week as world leaders gather in New York for the U.N. General Assembly.

Tel Aviv-Yafo

Israel continuing assault on Gaza after countries recognize Palestinian statehood

A group of US Republicans has sent a letter to France, Canada, the UK and Australia, urging them to re-consider their decision to recognise a Palestinian state.  It's warning there may be consequences if the countries move ahead with plan at the upcoming UN General Assembly.

US Republicans warn allies over decision to recognise Palestinian state

Britain, Canada and Australia all recognized a Palestinian state on Sunday (September 21) in a move borne out of frustration over the Gaza war and intended to promote a two-state solution, but which is also bound to anger Israel and its main ally, the U.S.

Britain, Canada and Australia all recognize Palestinian state

The President of the Palestinian Authority, Mahmoud Abbas, will address the UN on Monday, after the General Assembly voted to allow him to join remotely. The U.S. has refused to issue him a visa to attend in person.

UN approves video address by Palestine’s Abbas after U.S. visa refusal

Sixty nations have agreed to a new treaty aimed at protecting marine biodiversity in international waters. But the strength of the deal governing the high seas is uncertain as some of the world’s biggest players - including China, the U.S., Russia and Japan - have yet to ratify.

Nations ratify world's first treaty to protect international waters

A cyberattack on a provider of check-in and boarding systems has disrupted operations at several major European airports including London's Heathrow, the continent's busiest, causing flight delays and cancellations on Saturday (September 20).

Travelers stranded as cyberattack disrupts major European airports

The high seas will soon have their own Conference of the Parties (COP). This new body will oversee the implementation of the Agreement on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction, which is scheduled to enter into force in early 2026 after the legally required 120-day period.

Manhattan

Optus, Australia's second-largest telecom carrier, promised on Saturday "full cooperation" with official investigators, after an outage disrupted emergency call services for 13 hours. Four people died amid the technical failure, including an eight-week-old boy.

Melbourne

Telco vows to cooperate after deadly outage

Dozens more Palestinians have been killed in Israel’s military offensive. Amid mounting international criticism of Israel, there has been a renewed push for a two-state solution, with Portugal being the latest advocate.

Two-state solution gains support as IDF moves on Gaza City

Charlie Kirk will be mourned in a massive public memorial in Phoenix, Ariz., on Sunday. With U.S. President Donald Trump and other top U.S. officials attending, the event is expected to bring significant security concerns.

Thousands set to attend Charlie Kirk's public memorial

Russia has launched more than 600 attacks on multiple cities across Ukraine. President Volodymyr Zelenskyy is renewing calls for more support, and warning allies that defending Europe means defending Ukraine.

Kyiv

Russia launches mass strikes across Ukraine

A cyberattack has disrupted air traffic at several airports in Europe. Check-in and boarding systems went down in London, Brussels and Berlin. Europe’s aviation safety organisation says airlines were asked to cancel 50% of their flights to reduce pressure on the system.

Heathrow Airport

Flight chaos as UK, European airports hit by cyberattack

Three Russian military jets violated NATO member Estonia's airspace for 12 minutes on Friday in an "unprecedentedly brazen" incursion, its government said, the latest in a series of recent military actions by Russia that have rattled the alliance.

Breakdown