CEO Financial News

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

Gym operator Blink Fitness has filed for Chapter 11 bankruptcy protection

Brian Niccol, the chairman of Chipotle Mexican Grill, has been appointed as the new CEO of Starbucks as of August 13, 2024. Niccol will conclude his tenure as CEO of Chipotle on August 31, 2024. Howard Schultz, the former CEO of Starbucks, expressed his support for Niccol’s appointment, stating that Niccol has his “respect and full support.” Laxman Narasimhan, the outgoing CEO of Starbucks, will be leaving both his position and the Starbucks board after joining the company in 2023. During Narasimhan's time, Starbucks experienced a 3 percent decline in global sales at stores open for at least a year, according to a CNN report. In contrast, Chipotle saw an 800 percent revenue growth while under Niccol's leadership, as highlighted by the same report.

Two wealthtech firms have announced a collaboration which they say will expand the technology ecosystem for financial advisors.

FirstCry and Anand Mahindra's Mahindra Partners, which owned Baby Oye and Mom & Me, were almost rivals at time. However, almost eight years ago, that is in October 2016, Mahindra joined hands with FirstCry founder Supam Maheshwari, deciding to 'support' him rather than 'fight him'. On Tuesday, FirstCry, an e-commerce giant in baby care segment, made it's D-Street debut. It was listed at Rs 651 on the National Stock Exchange (NSE), as against an offer price of Rs 465.

Fresh Bus on Tuesday said it has raised USD 10.5 million (about Rs 87.5 crore) in a Series A funding round led by early-stage transportation-focused VC fund Maniv. The funding round also saw participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings, Fresh Bus said. The latest capital will be deployed for scaling up operations, enhancing technological capabilities, and strengthening the strategic team at the platform to drive growth, besides financing its growing fleet, it added. The company said it has so far raised around Rs 110 crore in three funding rounds, including two seed funding rounds last year.

State Street Corporation has announced a new head of Investment Services, its largest business.

The company will acquire a 55% stake in the US-based global private credit manager, in exchange for cash and company stock in a deal. Janus Henderson CEO Dibadj on leveraging acquisitions to 'fill in the gaps' Janus Henderson CEO Ali Dibadj spoke to Investment Week earlier this month about how he wanted to utilise acquisitions to fill in the «gaps across the organisation», which has recently focused on privates. The company purchased private credit business NBK Wealth back in May and with the deal set to complete before the end of the year, the VCP acquisition is the latest expansi...

Boeing has partnered with India's AI Engineering Services Ltd to provide overhaul services to the Indian Navy's fleet of 12 P-8I maritime surveillance aircraft. As part of the partnership, the first landing gear overhaul of a P-8I aircraft was recently completed at naval base INS Rajali in Tamil Nadu, Boeing India said on Tuesday. «This is a first in India and reflects the growth in India's indigenous capabilities for undertaking complex Maintenance, Repair and Overhaul (MRO) services,» it said in a statement. The Boeing P-8I, a multi-role long-range maritime reconnaissance anti-submarine warfare (LRMR ASW) aircraft, is integral to the Indian Navy's maritime surveillance missions in the Indian Ocean.

Inox Wind rallied 35% in two days, making a new all-time high of Rs 237 in Tuesday’s session on BSE after the company on Friday announced its Q1 results wherein it turned profitable on a YoY basis. The company also announced a 51 MW order win from Everrenew.

The company will acquire a 55% stake in the US-based global private credit manager, in exchange for cash and company stock in a $6bn deal. Janus Henderson CEO Dibadj on leveraging acquisitions to 'fill in the gaps' Janus Henderson CEO Ali Dibadj spoke to Investment Week earlier this month about how he wanted to utilise acquisitions to fill in the «gaps across the organisation», which has recently focused on privates. The company purchased private credit business NBK Wealth back in May and with the deal set to complete before the end of the year, the VCP acquisition is the latest ex...

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Bank of America, Brian Moynihan, has said that he has not seen a recession on the horizon of the US economy, reports 'The Hill'. Participating in CBS’s Margaret Brennan on “Face the Nation” Sunday, he tried to defend Joe Biden and the Federal Reserve by indicating that they have managed a “soft landing” for the US economy after inflation troubles in recent years.

Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Citigroup is taking a significant step to pare down its wealth management division with a plan to sell off its trust administration and fiduciary services business.

Circle Squared Alternative Investments founder Jeff Sica argues this weeks CPI and PPI inflation data will make or break the stock market on Varney & Co.

Nadine Ahn says she had a chance to become the first woman to run Royal Bank of Canada before she was fired over a personal relationship with a colleague.

UnTrade, a new automated crypto investing platform, is getting ready to show its AI-optimized trading algorithms at Money Expo Mumbai 2024. The event will be on August 17-18 at the Jio World Convention Centre. UnTrade will demonstrate how investors can use advanced algorithms to possibly make big profits.

LPL Financial has kicked off its annual flagship conference, Focus 2024, which is set to be one of the largest gatherings of financial advisors globally.

The November election is still months away but with Minnesota Gov. Tim Walz recently named as Kamala Harris’ political partner, the future of drug policy looks bright. As do the formerly “risky” investments and alternative sources of capital retention, like cannabis.