CEO Financial News

Prateek Agrawal, MD & CEO, Motilal Oswal AMC, in auto space, the call is whether over some time, EV dominates or ICE continues to have a very significant market share. He thinks that over time, EVs would end up dominating and hence their portfolios are nearly zero on ICE and are with companies where they have not made such a large success of ICE but have a great potential of making it in the EV space. Agrawal says there are four-five auto companies that Motilal Oswal AMC is invested in as a house and those companies seem to be doing well, winning market shares and getting into newer spaces. Among renewables, “we like renewable chemicals and the wind and solar energy companies says Agrawal. The choices are very low and seem to be mostly in the panel's space where entry barriers are not there. Frankly, we miss the financiers completely.”

SMArtX Advisory Solutions, a turnkey asset management platform provider with a focus on managed accounts, has introduced a new tool aimed at enhancing tax efficiency for financial advisors.

Powell participates in a discussion at the Economic Club of Washington, D.C.

Tata Steel is working with the UK government and unions to ensure an adequate level of investment for supporting skill development of workers who would be impacted due to the modernisation of its Port Talbot plant, according to the company's chairman N Chandrasekaran. As part of its decarbonisation plan, Tata Steel is shifting to a low-emission electric arc furnace (EAF) process from an ageing blast furnace at Port Talbot mill, resulting in job losses of around 2,500 people. Addressing the 117th Annual General Meeting of Tata Steel on Monday, Chandrasekaran said that the company recognises that this transformation is difficult from an execution perspective and also difficult for some of the employees who will not have a future with Tata Steel, especially in the UK. «The company is working with the government and with the unions to make sure that we do sufficient level of investment to be able to support them in their skill development so they can have a better future.

British luxury fashion house Burberry has appointed Joshua Schulman as its new chief executive officer

MUMBAI : Medikabazaar’s founders Vivek Tiwari and Ketan Malkan may not be awarded the stock options due to them this year as a fallout of financial discrepancies that have surfaced in yet another instance of corporate misgovernance among Indian startups. The company’s board is contemplating cancelling the management stock options that were due to the founders at the end of June, expecting Medikabazaar to not meet its revenue and operational earnings targets for 2023-24, according to three people familiar with the deliberations.

debt underwriting and a strong performance in its fixed-income trading business. Earnings were $3.04 billion, or $8.62 per share, for the three months ended June 30, compared with $1.22 billion, or $3.08 per share, a year earlier, the bank said on Monday.

As world financial markets reopened after the attempted assassination of Donald Trump, one thing was clear: The Trump trade is gaining momentum. 

A $200 million injection of growth equity is already driving acquisitions for a tech-enabled financial services firm that focuses exclusively on the needs of medical professionals.

Against a backdrop of intensifying climate protests targeting Wall Street, the heavyweights of US finance are pushing back against what they characterize as a fundamentally flawed debate.

Min Hee Jin seems to be a magnet for controversies! The ADOR CEO is facing a lawsuit from K-pop agency Source Music. According to the legal community, Source Music has filed a damage lawsuit worth 500 million won (395,000 dollars) against the New Jeans founder, for allegedly sabotaging business, unethical practices, and attempts of defamation. In the lawsuit, Source Music levelled three accusations against the ADOR boss. Firstly, they challenged Min Heejin’s claim that she selected the members of New Jeans herself. Next, they questioned Heejin’s decision to make New Jeans as HYBE’s first girl group. Last, but not the least, they alleged that she had neglected the members of the girl group.

Ashok Leyland, the Hinduja group flagship has bagged an order for 2104 Viking passenger buses worth Rs981.45 crore from the Maharashtra State Road Transport Corporation (MSRTC), the company said in a statement. The company will execute the order—the single largest one from the state corporation for supply of BSVI OBD II (on board diagnostic) compliant fully built passenger buses from August 2024 to August 2025. This will further contribute to strengthening Ashok Leyland's dominant position in the bus segment, it said. MSRTC is one of the largest state transport undertakings in the country with over 15,000 buses. With this order, Ashok Leyland buses will dominate its fleet.

water business AO Smith, for an enterprise value of Rs601 crore. Launched two decades ago, the water purification brand is part of HUL's home care business with revenues of Rs 293 crore during FY24. “This move is in line with our strategic intent to focus sharply on our core categories," said Rohit Jawa, CEO and Managing Director of HUL. The transaction is subject to customary closing conditions, and HUL will continue to manage the business until the completion of the transaction, which will take about three months. The proposed transaction is to be undertaken by way of a slump sale through a business transfer agreement, it said.

Former United States President Donald Trump remains committed to speak at the Bitcoin Conference in Nashville, Tennessee, after surviving an assassination attempt on July 13 during a rally in Pennsylvania.

workspace provider Incuspaze, has leased 115,000 sq ft in Bangalore’s Whitefield. “With our ongoing expansion in Bangalore and our plans for Chennai and Hyderabad, we are committed to providing tailored workspace solutions that support the diverse needs of our clients,” said said Sanjay Choudhary, founder and CEO of Incuspaze. Incuspaze is set to expand its portfolio in southern India, with ORR micro market in Bangalore and further entering key markets in Chennai and Hyderabad. As part of its growth plan, the company is targeting over 2 million square feet of workspace take-up over the next two years.

The Calgary Stampede is closing in on its all-time attendance record set more than a decade ago.

The second phase of the civil trial against the National Rifle Association and its top executives is opening in New York

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With around 350,000 homes and businesses still without power in the Houston area almost a week after Hurricane Beryl hit Texas, Gov. Greg Abbott says he’s demanding an investigation into the response of the utility that serves the Houston area

professional services firms in India combined now have over 3,300 partners — equity plus non equity — with EY being the first firm to exceed 1,000 partner benchmark driven by continued strong growth in advisory businesses after the Covid-19 disruption. In the last three years, the advisory businesses — consulting, deals and risk — have grown much faster — 25% plus-than the traditional areas like audit and tax, which have grown between 15% and 22% for most firms, as the firms continue to pivot towards high-growth advisory services, including tech consulting and implementation. With EY being the last Big Four firm to close its financial year on June 30, the combined revenue of the Big Four firms — affiliates included — in the last financial year has crossed ₹39,000 crore, according to multiple senior partners ET spoke to across firms.

Tata Group is in favour of continuity at the top management level of Air India (AI) after its merger with Vistara. All the top executives of Air India are likely to hold their positions after the merger, people aware of the matter said. While Campbell Wilson will remain its chief executive, Nipun Aggarwal and Sanjay Sharma are set to retain their roles as chief commercial and transformation officer and chief financial officer, respectively. Vistara CEO Vinod Kannan is likely to return to his parent company, Singapore Airlines (SIA), people aware of the development said. Kannan was on secondment to Vistara since 2019 when he joined the Tata Sons-SIA joint venture as its chief strategy officer. SIA had the right to name the CEO at Vistara, while the Tata Group appointed its finance chief.