CEO Financial News

Victoria’s Secret is making a change at the top, bringing in Hillary Super from Savage X Fenty to become its CEO

U.S. stocks rose to one of their best days of the year as Wall Street relaxed after the first of several highly anticipated reports on the economy this week came in better than expected

Hedge fund Elliott Management is escalating its fight against the management of Southwest Airlines

LONDON—As Britain’s oil and gas giants scale back their global green-energy ambitions, the U.K.’s newly elected government is launching a multibillion-dollar effort to regain the country’s place as a global pacesetter for clean energy. A new state-backed company, funded by increased taxes on oil and gas production, will invest in many renewable-energy projects around the country. Industry executives are split on whether the plan can meet the government’s ambitious goals.

As of 1:12 pm IST, Bitcoin (BTC) rose 2.85% over the past 24 hours, trading at $60,948. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, gained 2.65%, trading at $2,724.

ZURICH, Switzerland ꟷ UBS CEO Sergio Ermotti said Wednesday that market volatility could intensify in the second half of the year, but he does not believe the U.S. is heading into a recession.

Starbucks reportedly fired Indian-origin Laxman Narasimhan from the position of Chief Executive Officer, a recent interview of him saying he 'almost never' worked past 6 pm has been making rounds on various social media platforms. «I am very disciplined about balance. If there's anything after 6 pm and I am in town, it's got to be a pretty high bar to keep me away from the family. Anybody who gets a minute of time after that better be sure that it's important… Because if not it will just wait for another day,» Narasimhan said in an interivew to Fortune. Starbucks on Tuesday announced that Chipotle Mexican Grill's head, Brian Niccol, will replace Chairman and Chief Executive Officer Laxman Narasimhan.

romantic gestures, Meta CEO Mark Zuckerberg has commissioned a colossal sculpture of his wife, Priscilla Chan, to grace their backyard. This larger-than-life tribute, crafted by renowned artist Daniel Arsham, has become the talk of the town and a true symbol of Zuckerberg's affection. Zuckerberg, who has been married to Chan for over 12 years, took to Instagram to unveil the impressive artwork. The sculpture, which features a bronze finish with a Tiffany green patina, reflects Arsham's signature blend of architecture and performance art. The tech billionaire's post included both a photograph and a video, capturing the striking details of the statue and Chan's delighted reaction.

Hero MotoCorp recorded its highest ever quarterly revenue and profit after tax in Q1 FY25 as it reported a 16 per cent revenue growth from the same quarter of the previous year at Rs 10,144 crore and PAT at 1,123 crore, an increase of 36 per cent from Q1 FY24. The revenue touched 10,000 crore in a quarter for the first time in the company’s 40-year history. The company sold 15.35 lakh units in the quarter, an increase of 13.45 per cent from the same quarter of the previous year. “We continue to be on the profitable growth journey, crossing Rs 10,000 crore revenue for the first time ever, accompanied by the highest ever underlying PAT. As we surge forward, we are investing behind long term capability building to ensure sustained delivery of growth in future,” said Niranjan Gupta, CEO, Hero MotoCorp.

union budget has widened the gap between PMS and MF in income tax terms, many suspect that HNI investors may be encouraged to tilt more towards mutual funds due to their tax-friendly nature. In the union budget announcement, there was an increase in capital gain tax. The short-term gains on specified financial assets was changed to 20% instead of the previous 15%. The long-term gains on all financial and non-financial assets was changed to 12.5% from 10% earlier. The difference in tax rate which earlier was 5% has been widened to 7.5% post budget announcement. “On taxes, PMS does poorly compared to MFs, which is a significant drawback. Unlike PMS, where taxes are applied even if investors do not liquidate but fund managers make changes to the portfolio, mutual funds only impose short-term or long-term capital gains on investors when they sell their units. With an average turnover ratio of 50% in PMS, there is an extra 1-2% tax obligation on total assets,” said Amar Ranu, Head-Investment Products & Insights, Anand Rathi Shares and Stock Brokers.

Piramal Enterprises on Tuesday reported a 64% decline in its June quarter net profit to ₹181 crore, impacted because of a higher base due to a one-off item last year. The non-bank lender had reported a consolidated net profit of ₹509 crore in the year-ago period. Its CEO Jairam Sridharan said the year-ago performance included a ₹850 crore benefit from a stake sale in a Shriram Group entity, and added that the performance has been stable in the reporting quarter this year. The core net interest income grew 18% to ₹807 crore on the back of a 10% increase in the overall assets under management to ₹70,576 crore, while the net interest margin narrowed to 6.7% from 7.3% in the year-ago period.

Wipro has appointed Sandhya Arun as its chief technology officer (CTO) with immediate effect, as per an internal email, hours after Subha Tatavarti resigned as CTO to pursue opportunities outside the country’s fourth largest IT firm. Arun, who has held various leadership positions at Wipro over the past eight years, has been instrumental in bringing about technological innovation, leading digital transformation and pioneering the integration of artificial intelligence (AI), said the email, a copy of which was seen by ET. In her new role, she will report to chief technology and strategy officer Hari Shetty.

World Investment Advisors is taking another step forward on its next chapter of growth with a new addition to its C-suite.

Leading wealth tech provider Advyzon is looking to help RIAs take their high-net-worth and ultra-high-net-worth investment management services to the future with its latest partnership.

Starbucks, struggling with weak demand and disgruntled investors, said Tuesday that CEO Laxman Narasimhan is stepping down after a little more than a year in the job.

Check out what's clicking on FoxBusiness.com

Essar Oil and Gas Exploration and Production will invest up to ₹3,000 crore on its flagship coal bed methane (CBM) block in Raniganj, West Bengal to raise gas production, a senior company executive said. «We are determined to raise our contribution to India's overall gas output to 5% in the next five years from 1% currently. We plan to invest around ₹3,000 crore to reach this target,» said Pankaj Kalra, CEO of Essar Oil and Gas Exploration and Production. Kalra added that the company has an acreage of 500 sq km, of which it has only harnessed 70 sq km. «So over 80% is still to be harnessed.»

Vodafone Idea (Vi) CEO Akshaya Moondra has signalled that the telco may keep its 5G base pricing lower than bigger rivals Reliance Jio and Bharti Airtel to attract customers as it will be a new entrant in the space. «A decision on 5G pricing will be taken closer to launch, but when you are just starting with a (5G) network which is not yet mature, one will have to look at pricing in that fashion,» Moondra said at Vi's fiscal first quarter earnings call Tuesday. He was responding to an analyst query on Vi's likely approach to 5G monetisation, and whether it is likely to emulate Jio and Airtel, who have both sharply hiked entry-level 5G pricing thresholds to boost average revenue per user (ARPU).

U.S. stocks are rising, and Wall Street is relaxing a bit after the first of several highly anticipated reports on the economy this week came in better than expected

Tesla CEO Elon Musk wrote on Twitter in 2016 inviting Indians to preorder Tesla Model 3s

Pfizer's CEO Albert Bourla is trying to reposition the global pharmaceutical giant for a post-pandemic world