CEO Financial News

Mint soon after a town hall with engineers at Siemens Ltd, the conglomerate's Indian subsidiary. On Thursday, Siemens shares touched a lifetime high of ₹7950, marking an 112.43% return on investment over the past year. India's economic growth rate of 6-7% significant and speaks for itself; however, if the share of industry in India's GDP grows from the current 17% to 25%, this would add a potential $1 trillion to the economy, he added.

The U.S. Justice Department plans to propose that Boeing plead guilty to criminal fraud in connection with two deadly plane crashes involving its 737 Max jetliners

According to a trading update published today (10 July), the asset manager's net outflows fell to £923m in the three months ended 30 June, down from £1.6bn in the same period last year.  The vast majority of outflows – £772m – came from the UK retail funds and MPS channel, followed by institutional accounts and funds – £145m. The market and investment performance of £139m during the period failed to offset the outflows, and the firm's assets under management fell 2.8% to £27bn.    Liontrust profits sink 23% as AUM continues to fall Following Labour's landslide win at the gene...

healthcare startup Cloudphysician said it has appointed Mandar Vaidya as its India chief executive officer from June. Bengaluru-based Cloudphysician is a full-stack tech and operations company that partners with hospitals to manage patients in their intensive care unit and emergency departments.

New York’s oldest and most storied bank has named the next leader for its global wealth and investments business.

Plans are in place to write to the new economic secretary to the Treasury «as soon as they are appointed», according to an AIC release last week (5 July). The trade body has called for the reforms since 2018, when investment trusts were brought under the current scope of regulated cost disclosure. Richard Stone, CEO of the AIC, reiterated the trade body's demands for this to be reversed to the new Labour Treasury. House of Lords condemns FCA's application of cost disclosure regime for investment trusts The issue stems from the UK's application of two pieces of European Union-der...

Tesla's best-selling Model Y was included in a list of electric and plug-in hybrid models that a local government in China can purchase as a service car, according to the official Chinese media outlet the Paper on Thursday. It was the first time Tesla's cars have been made eligible for government purchases in China, the Paper added. China's eastern Jiangsu provincial government published 56 batches of new energy vehicle procurements for use as service cars by party, government and public organisations in a government statement on June 6.

The Bahnsen Group founder and CIO David Bahnsen surveys the real estate market as younger homebuyers struggle with the ongoing housing crisis. 

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Freeman joins GAM from SSVL Monaco, a Monaco-based activist fund focused on small and mid-cap European companies, where between 2017 and 2023, he was a member of the Investment Committee. GAM appoints Liontrust as delegated manager of Star Alpha Technology strategy Prior to that from 2014 to 2016, Freeman served as the chief investment officer of the Fortress Centaurus Global fund. In 2000, he co-founded Centaurus Capital, a multi-billion-dollar hedge fund group with assets under management (AUM) later peaking at $5bn. Freeman held the positions of CEO and CIO until 2014, when t...

Ken Griffin, founder and CEO of Citadel, said he remains skeptical that artificial intelligence could soon make human jobs obsolete as he sees flaws in machine learning models applied in certain scenarios.

Nashik (Maharashtra) [India], July 9: KBC Global Ltd ( Previously known as Karda Construction Limited ) BSE - 541161, a prominent player in the construction and real estate development sector has handed over possession for 100 plus residential cum commercial units in its various ongoing projects in Nashik, Maharashtra. The group has handed over possession for total of 109 units from April 2024. Company handed over 76 units of Hari Kunj Mayflower Project, 19 units of Hari Krishna Phase IV projectOut of the total units handed over during the period, the company has handed over possession of 76 units of the project Hari Kunj Mayflower (MAHARERA Reg no: P51600020249), a residential cum commercial project situated at Karmayogi Nagar, Nashik ,Maharashtra - 422 009.

Silvergate Capital Corp., former CEO Alan Lane and former chief risk officer Kathleen Fraher, were charged by the Securities and Exchange Commission with misleading investors about the strength of its bank secrecy act and AML compliance programme and the monitoring of crypto customers. In addition, the company and former executives were charged with misleading investors about the company’s losses from expected securities sales following the collapse of FTX. Silvergate and Martino misrepresented the company’s bleak financial condition during a liquidity crisis and bank run following FTX’s collapse, alleges the SEC.

Accenture announced its third acquisition in the semiconductor silicon design and engineering services space with US-headquartered Cientra. Accenture will absorb Cientra's approximately 530 engineers and practitioners entirely to Accenture’s Advanced Technology Centers in India, Accenture said in a statement.

TurboTax-parent company Intuit said on Wednesday it will let go of about 1,800 employees, or 10 per cent of its workforce, as it looks to focus on its AI-powered tax preparation software and other financial products.

Time is the most scarce resource for any leader, influencing not only her individual performance but also the organization’s culture and strategic direction. Leaders, therefore, must be strategic in how they spend their time—with themselves, and in one-on-one as well as group meetings. Time alone allows leaders to both respond and react, but more importantly, step back, reflect and strategize.

Minaya will join on 3 September and will report to Robin Vince, president and CEO of BNY.  Once Minaya joins, Smits will transition to chair of BNY Investments to help oversee the change. «I would like to thank Smits for her leadership», Vince noted. BNY Mellon undergoes name change amid extensive rebrand Minaya said: «I am delighted to join BNY, a historic institution with a legacy of helping clients achieve their ambitions and advancing the future of finance, and to lead a globally renowned asset management and wealth franchise with deep relationships around the world.» Most r...

UPI to pay in Paris' Galeries Lafayette. India's Unified Payments Interface (UPI) has marked a significant expansion with its launch at the Galeries Lafayette flagship store on Haussmann Boulevard in Paris. Following a successful introduction at the iconic Eiffel Tower earlier this year, this move aligns with Prime Minister Narendra Modi's vision to internationalize UPI, an instant payment system developed by the National Payments Corporation of India (NPCI) in 2016. The Indian Embassy in France announced on Thursday, «On July 3, 2024, UPI became operational at the flagship store of the world-renowned Galeries Lafayette in Haussmann, Paris. This extends the acceptance of UPI in Paris following its successful debut at the iconic Eiffel Tower.»

Andrew Holland, CEO, Avendus Capital Public Markets Alternate Strategies LLP, says the market might be held up and we might just have a push higher toward the Budget. Two of the big sectors like IT and banking have seen a strong run in the very short run. Other sectors like FMCG are probably helping to push the market higher on the basis that there could be more government spending to help the rural economy and therefore that would have knock-on effects in other areas as well like affordable housing, affordable housing finance companies.

New Delhi, July 3, 2024: SabPaisa (SRS Live Technologies Private Limited), a leading payment solutions provider, announced that it has received final approval from the Reserve Bank of India (RBI) to function as a Payment Aggregator (PA) under the Payments and Settlement Systems Act, 2007. This approval solidifies SabPaisa's position as a leading player in the Indian fintech industry, enabling it to offer comprehensive payment aggregation services to merchants across the country.

Boeing Max planes, market leader IndiGo awaits delivery of new and inspected Airbus 320 neo planes with P&W engines. Boeing has guaranteed Max deliveries till December, an executive at one of the airlines operating the plane said. “The delivery outlook beyond December 2024 looks grim, and may impact our expansion plans in 2025," the executive said on condition of anonymity.