CEO Financial News

Tesla not moving forward on deal with the government, Ola CEO Bhavesh Aggrawal claimed that this loss would be for Elon Musk-owned company, not for India. «If true, this is Tesla’s loss, not India’s. While the Indian EV and Lithium ecosystem is early, we’re gaining momentum quickly. It’ll be too late for Tesla when they look at India seriously again in a few years,» said the Ola CEO in a post on X. The government has not heard from Tesla since the election results, on its plans to participate in the recently launched Scheme to Promote the Manufacturing of Electric Passenger Cars in India, said Department for Promotion of Industry and Internal Trade (DPIIT) secretary Rajesh Kumar Singh.

Roku to celebrate SpongeBob SquarePants' upcoming 25th anniversary. The campaign includes unique features on Roku's platform, aimed at boosting viewer engagement and awareness.

waste management firm ReCircle has entered the textile waste management vertical with a target to process 570 million tonnes (MT) of textile waste in 12 months. The company recently launched Project Extra Life to tackle India’s textile waste problem and build a more sustainable circular economy. Until now, ReCircle has focussed on managing plastic and paper waste. In FY24, it diverted 65,364 tonnes of waste — paper, plastic, cardboard and e-waste. “We’re constantly innovating to digitise the waste supply chain, create meaningful opportunities for informal waste workers, build a closed-loop system to extend the life cycle of waste and empower India to move towards a circular future — one piece of trash at a time,” says Rahul Nainani, Co-Founder & CEO, ReCircle.

In Quebec, hundreds of people remain on the hunt for a new home as July 1 marks the province’s traditional moving day.

World AI Conference in Shanghai this week to showcase their latest innovations and express strong support for the country's artificial intelligence sector even as it faces U.S. sanctions. More than 150 AI-related products and solutions are being exhibited at the conference, with a small number of foreign firms such as Tesla and Qualcomm joining the predominantly Chinese line-up, according to the event organizer.

Bharti Enterprises and Del Monte Pacific Ltd, on Thursday announced Abhinav Kapoor as its new chief executive officer with immediate effect. He will lead the Del Monte Foods senior leadership team across functions and steer long-term strategy for the business, a company statement said. According to Harjeet Kohli, joint managing director, Bharti Enterprises, Kapoor will also amplify focus on the B2B and B2C spaces. Kapoor was previously vice president, sales at VIP Industries, where he was overseeing P&L, multiple channels and sales, the company said in a statement, adding that Kapoor has over two decades of experience in sales and distribution within consumer businesses. He has previously held leadership positions at Cavinkare, Britannia Industries, Mondelez and Marico, the statement said. He succeeds former chief Mahesh Kanchan.

Royal Enfield on Tuesday said it has reported a 5 per cent decline in total sales at 73,141 units in June as against 77,109 units sold in the same month a year ago. Dometic sales were at 66,117 units last month as against 67,495 units in the year-ago period, down 2 per cent, Royal Enfield said in a statement. Exports declined 27 per cent to 7,024 units last month as compared to 9,614 units in June 2023, it added. «We remain steadfast on our long-term plans and are making considerable progress towards the same. This year will be an exciting one for Royal Enfield, as we have several new launches planned that will significantly strengthen our product portfolio,» Royal Enfield CEO B Govindarajan said.

Motilal Oswal Nifty India Defence Index Fund collected Rs 1,676 crores during the New Fund Offer (NFO) period between June 13 and 27, Motilal Oswal Asset Management Company (AMC) said in a release on Thursday. Units were allocated on July 3 in the newly launched defense-themed fund and the scheme will reopen for further subscription and redemption from July 9.

Toronto, Ontario–(Newsfile Corp. – July 9, 2024) – Cypherpunk Holdings Inc . (CSE: HODL) (OTC Pink: CYFRF) (“Cypherpunk” or the “Company”), a Canadian-based holding vehicle dedicated to investing in companies, technologies, and protocols within the blockchain ecosystem today announced the appointment of Leah Wald, crypto industry veteran, as President and Chief Executive Officer.

Advisors praised the feel-good factor of being surrounded by the industry’s best in class after InvestmentNews hosted its inaugural awards night on June 20 at 583 Park Avenue in New York City.

Shoppers Stop, India’s oldest department store chain, plans to enter luxury retailing with large-format standalone stores that will sell brands such as Gucci and Louis Vuitton, one person aware of the company’s plans told ET. The new format will also house the Aditya Birla Group’s luxury store The Collective, the person said. The company plans to launch two luxury outlets this fiscal year and one of them could be in Kolkata, the other in Mumbai, the person said.

tiers range from the current conversational AI (Level 1) to advanced AI that can operate an entire organization (Level 5). OpenAI, widely regarded as a frontrunner in the quest for more powerful AI systems, plans to share these levels with investors and other external stakeholders.Currently, OpenAI considers itself at the first level, but nearing the second, known as “Reasoners." This stage refers to AI systems capable of basic problem-solving tasks comparable to a human with a doctorate, but without access to additional tools.During the same meeting, OpenAI's leadership showcased a research project involving its GPT-4 model, demonstrating new capabilities that exhibit human-like reasoning.

It’s time to confront an urgent question: Am I the leader I used to be? The risk of avoiding this question is playing out in Washington right now. And while the fate of the free world might not rest on the answer for most of us, the futures of our companies and co-workers just might. If an honest assessment reveals a lost step, it might mean making small adjustments such as cutting back hours.

The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman stores, for $2.65 billion, with online behemoth Amazon holding a minority stake

Proof of Play CEO Amitt Mahajan is anticipating a surge in dedicated blockchain usage for gaming applications.

Power sector financier REC Limited has raised 31.96 billion Japanese yen through a 5-year green loan, with the transaction being conducted from Deutsche Bank’s Gift City branch. The loan, which is equivalent to $200 million, will be used to finance eligible green projects in India, REC said in a statement. “This successful transaction is in line with REC’s commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community’s support for sustainable development projects in India,” said Vivek Kumar Dewangan, CMD, REC.

Ed Tilly is joining upstart brokerage-services provider Clear Street, as the former head of Cboe Global Markets Inc. takes a new leadership role in the securities industry. 

There was news recently that Luiz Amaral, CEO of Science Based Targets Initiative (SBTi), has announced he will resign soon. This followed a staff revolt at the organization after it said it would let the companies it oversees use ‘carbon credits’ to offset pollution caused by their operations or supply chains. Initiatives like tree planting generate carbon credits, which, if bought, would allow companies to use these without cleaning up their act.

Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off about 10% of its workforce

«We had, of course, after seeing multiple roadshows, we collected close to about 2,500 crores of AUM, I mean, in excess of 2,400 crores and coming from about 1,20,000 investors and coming from about 13,000 roughly is the pin code, which is nothing but a reflection of the wider participation coming from across the country,» says A Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC. I just want to start by understanding a bit about this NFO and the role the entire distribution space has played in its success. What kind of contribution have we seen from digital partners? A Balasubramanian: I think the NFO was a great success.

Canara Bank MD & CEO K Satyanarayana Raju has handed a dividend cheque of Rs 1838 crore to Finance Minister Nirmala Sitharaman for the financial year 2023-24. Raju handed the cheque at an event in Delhi on Wednesday attended by Prashant Kumar Goyal, joint secretary at the ministry of finance (MoF), and bank’s executive directors Debashish Mukherjee, Ashok Chandra, Hardeep Singh Ahluwalia, and Bhavendra Kumar and Delhi circle chief general manager Rajesh Kumar Singh. This dividend payout reflects Canara Bank's unwavering commitment to its stakeholders and its strong financial health, driven by strategic initiatives and sound banking practices. The bank continues to play a pivotal role in supporting India's economic growth and development through its extensive range of financial products and services, the bank said in a statement.