CEO Financial News

Sumant Sinha, chairman and managing director of Gurgaon-based ReNew, was recently appointed co-chair of the Switzerland-based Alliance of CEO Climate Leaders. This private sector collective has about 130 global chief executive officers from 26 countries representing 12 industries. Apart from ReNew, at an institutional level, there are eight other Indian companies that are part of this group.

Revenue from operations came in at Rs 519.5 crore, up 27.8 per cent from Rs 406.6 crore in Q1FY24.

Assam Tourism Development Corporation (ATDC) signed an MoU with Amalgamated Plantations Private Limited (APPL) and the Indian Hotels Company Limited (IHCL), subsidiaries of Tata Group companies. The function held at Lok Sewa Bhawan in presence of Chief Minister Himanta Biswa Sarma and Chairman Tata Sons Natarajan Chandrasekaran. It may be noted that MD ATDC Padmapani Bora, CEO IHCL Puneet Chhatwal and MD and CEO APPL Sukhjeet Singh Malhotra signed the memorandum of understanding. As a part of the MoU, a Taj Resort and Spa will be opened with an investment of Rs. 120 crores. Moreover, under the MoU, Amalgamated Plantations Private Limited in collaboration with Indian Hotels Company Limited will establish hotel and hospitality infrastructure with modern facilities at Kaziranga. ATDC on behalf of Government of Assam will be acting as a nodal agency to implement the project.

Carlsberg has said it will acquire the remaining 33.33 per cent stake in Carlsberg South Asia Pte. Ltd. (CSAPL) from its partner CSAPL (Singapore) Holdings Pte. Ltd in a deal valued at USD 744 million. CSAPL is the holding company for the Carlsberg's businesses in India (100 per cent) and Nepal (90 per cent), through its shareholding in Gorkha Brewery Private Limited (GBPL). CSAPL Holding's 33.3 per cent shares is under the control of Singapore resident C P Khetan, with whom the company was having disputes.

Macs give Apple a chunkier India pie Many of those Fortune 500 companies did eventually recover, but for IBM It was the beginning of the end. Despite major changes, including the unceremonious sacking of CEO John Akers, and layoffs, IBM (US) suffered a net loss of almost $16 billion from 1991 to 1993. The exit of Akers, a quintessential IBM-er, was a clear sign that the days of stability and continuity were over.

Startup Character.AI said on Friday it has signed an agreement with Alphabet's Google that grants the search engine giant a non-exclusive license to the chatbot maker's large language model technology. The deal, echoing ones struck by Microsoft and Amazon in the past few months, will see Character.AI co-founders Noam Shazeer and Daniel De Freitas rejoin Google, where they were formerly employees. Those other deals are being scrutinized by regulators, reflecting growing concern in both the U.S. and Europe about how AI deals are put together by tech giants who are funneling billions into bolstering their AI infrastructure and hiring the best researchers from startups.

Exxon Mobil’s second-quarter profit rose and was its second-highest for the period of the past decade as it achieved record quarterly production from its Permian and Guyana assets

McKinsey's managing partner in February 2024, Bob Sternfels faced the crucial decision of appointing a global leader of firm strategy to navigate the management consultancy through the pervasive impact of technology, the disruptive potential of AI and rapidly changing client demands. His selection for the role was Ashutosh Padhi, an IIT-Kanpur and IIM-Ahmedabad alumnus. “I chose Ashutosh Padhi, who led our North America business, to drive the innovation agenda that’s critical for the firm’s future. He is now in charge of ensuring we innovate our models rapidly,” Sternfels told ET a few days back.

Rau's IAS Study Circle has offered compensation of Rs 50 lakh each to the families of three UPSC aspirants who died after rainwater gushed inside the institute's basement in Old Rajinder Nagar last week. The institute announced the compensation on Thursday, five days after the incident occurred. «We are offering Rs 50 lakh compensation to the family of each student who has lost their lives. Half the money will be given now. While the remaining portion will be given once Abhishek Gupta, CEO of the organisation, comes out or within six months, whichever is earlier», Rau's IAS advocate Mohit Saraf told PTI videos. On July 27, three UPSC aspirants drowned in the basement library of Rau's coaching centre. The Delhi Police has arrested seven people in connection with the case, including Rau's CEO Abhishek Gupta and coordinator Deshpal Singh.

In this article

Morgan Stanley appears poised to become the first major Wall Street bank to allow its financial advisors to offer bitcoin ETFs to clients, marking a significant step in mainstream finance’s adoption of cryptocurrency.

Cetera Financial Group continues its expansion into the credit union space as it forges ties with a new partner institution in California.

penalties on Zerodha Asset Management Private Limited, commonly known as Zerodha Fund House, and its key managerial personnel, including founder Nithin Kamath. The penalties stem from the company's failure to appoint a chief financial officer (CFO) for a period of 459 days, in violation of Section 203 of the Companies Act, 2013. The company filed a suo-moto application on January 9, addressing the non-appointment of a CFO between December 20, 2021, and March 23, 2023. This filing led to the MCA's hefty penalty against the company. “The company did not have a chief financial officer till the appointment of Chintan Vasantlal Bhatt on 24.03.2023, thereby violating the relevant provisions of the act from 20.12.2021 to 23.03.2023 i.e. 459 days,” the MCA order noted.

Berkshire Hathaway, run by billionaire Warren Buffett, extended its selling of Bank of America shares, and has shed over $3.8 billion of the second-largest U.S. bank's stock since mid-July. Berkshire sold approximately 19.2 million Bank of America shares for $779 million between July 30 and Aug. 1, according to a Thursday night regulatory filing.

In this article

Almost half the financial advisors in the market are over the age of 55, and within a decade of their own retirement. It’s a simple demographic fact that seemingly bodes well for young talent seeking to enter the wealth management business. Less advisors above them means more room for career growth, right?

VanEck CEO Jan Van Eck forecasts that Bitcoin could reach up to $2.9m by 2050.

Amazon.com reported slowing online sales growth in the second quarter and said cautious consumers were seeking out cheaper options for purchases, sending shares down nearly 8%. The after-hours stock drop came despite second-quarter profit and cloud computing sales that beat analyst estimates. Amazon shares had gained over 20% this year through the session close on Thursday, and investors were disappointed that the company forecast current-quarter sales below Wall Street estimates.

The overall growth of ER&D firms is still higher than IT services companies, but the trajectory of both segments have reversed in the recently concluded quarter. “Headcount growth has decelerated cumulatively for Indian pure-play ER&D services companies,” Kotak Institutional Equities said in a post-earnings season note. “These companies have focused on better resource utilization and hiring trainees to optimize cost structures over the past year.”

Ohio’s historical society has struck a deal that will allow it to take control of ancient ceremonial and burial earthworks located on a golf course east of Columbus

Chipmaker Intel Corp. is cutting 15% of its massive workforce as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD