CEO Financial News

There will be winners and losers as United States President Donald Trump shakes up the world order through tariffs and shifting military strategies, but one area poised to prosper is defence, says Jo Taylor, chief executive of the Ontario Teachers’ Pension Plan Board.

By Susan McArthur

IFCI. Bhave, serving as Deputy Managing Director, has been appointed as MD and CEO for three years from the date of taking over, a government order said. The appointment has been approved by the Appointments Committee of the Cabinet (ACC), headed by the Prime Minister. The Industrial Finance Corporation of India (IFCI) was set up by the government on July 1, 1948, as the first development financial institution in the country.

As per the statement, the collaboration will give fans greater access to the franchise and players, offering behind-the-scenes content and Rajasthan Royals merchandise. “Our fans are the heartbeat of Rajasthan Royals, and we are always looking for new ways to bring them closer to the team. Partnering with FanCode helps us do just that—giving fans more ways to engage, whether through exclusive content, behind-the-scenes access, or official Royals merchandise,” said Jake Lush McCrum, CEO, Rajasthan Royals. FanCode Shop will oversee the end-to-end operations of the team’s official merchandise, including designing, manufacturing, marketing, and distribution. The collection will feature official jerseys, accessories, and a wide range of fan apparel including polos, t-shirts, joggers, and shorts. Special customised jerseys, where fans can get names of their favourite player, or their own name printed will also be made available. This initiative aims to offer fans high-quality, affordable merchandise that reflects the Royals’ vibrant identity. To enhance offline accessibility, a special FanCode Shop kiosk will be set up at WTP Mall in Jaipur, where a dedicated ‘Royals Corner’ will allow fans to explore and purchase official team merchandise in person. In-stadia sales across Guwahati and Jaipur, where Rajasthan Royals play their home matches, will also be facilitated by FanCode Shop.

OpenAI CEO Sam Altman, in an interview with Ben Thompson of Stratechery, stated that, after a certain point, there would be less need for software engineers when asked whether the company should continue hiring them. He said, “I mean, my basic assumption is that each software engineer will just do much, much more for a while. And then at some point, yeah, maybe we do need less software engineers.” The conversation also touched on the impact of artificial intelligence (AI) on jobs and the speed of job displacement. When asked for his perspective on the issue, Altman expressed the view that the changes would not be sudden but would accelerate gradually over time.

Subscribe to enjoy similar stories. Nvidia just unveiled new AI chips that will be several times as powerful as anything on the market today, and use considerably more electricity. By 2027, a server rack stacked with its top-of-the-line chips will use five times the power of today’s machines, Nvidia CEO Jensen Huang told a jam-packed audience at a California conference this week.

Bitcoin and major cryptocurrencies declined on Friday as escalating geopolitical tensions and concerns over US tariffs dampened investor appetite for risk. Global policymakers struck a cautious tone amid central bank meetings this week, highlighting economic and political uncertainty. The US Federal Reserve, Bank of Japan, and Bank of England all kept interest rates unchanged, citing trade tensions and inflation risks.

Spooked by generative AI's sudden advance, governments initially scrambled to develop guardrails, as major tech companies rapidly integrated the technology into their products. Since taking office in January, the Trump administration has shifted focus toward accelerating AI development at all costs, pushing aside concerns about the models suffering hallucinations, producing deepfakes, or destroying human jobs.

Michael Seibel, a longtime group partner at startup accelerator Y Combinator, has transitioned to a "partner emeritus" role after more than 12 years. He confirmed the news on X.

Manappuram Finance shares will be in focus on Friday after Bain Capital announced it has entered into definitive agreements to acquire joint control in the company through its affiliates, BC Asia Investments XXV Limited and BC Asia Investments XIV Limited, in partnership with existing promoters. As part of the deal, Bain Capital will invest Rs 4,385 crore to acquire an 18% stake on a fully diluted basis via preferential allotment of equity and warrants at Rs 236 per share—a 30% premium over the six-month average trading price.

Subscribe to enjoy similar stories. Bengaluru: Hyperlocal grocery delivery platform Zepto is exploring ways to strengthen its cold chain logistics, aiming to enhance quality control and improve gross margins in its perishables category, according to severalindustry executives familiar with the matter. The company has invited individuals and organizations with expertise in the fresh or cold supply chain to collaborate in its drive, as per co-founder and CEO Aadit Palicha's LinkedIn post last week.

DoubleLine Capital CEO Jeffrey Gundlach said Thursday there could be another painful period of volatility on the horizon as the fixed income guru sees heighted risk of a recession.

Hindalco's downstream operations are likely to bring in as much as 30-40% of the company's earnings before interest, tax, depreciation and amortisation in three-four years, its chief executive told ET. These operations — copper, downstream aluminium and speciality alumina — currently account for about 10% of the company's Ebitda, Satish Pai said. Once this mix changes, Hindalco's downstream businesses are likely to have an enterprise value of 8-9 times their Ebitda, while the upstream business may continue to be valued at six times. «In India, the downstream players are valued much higher. So that is where the whole game is,» Pai said. Capital-intensive sectors such as metals are generally valued using the EV/Ebitda valuation. Hindalco, a $26 billion company and the world's largest producer of aluminium by revenue, on Thursday unveiled a new brand identity, terming itself an engineered solutions provider instead of a materials supplier. «Hindalco's new identity reflects our role as a catalyst for change, a problem solver, and a co-creator of new solutions that power progress across industries,» chairman Kumar Mangalam Birla said at the launch.

Tesla and SpaceX CEO Elon Musk has raised concerns about the U.S. government’s financial operations, claiming that several government computers are making payments with little to no oversight. Speaking on a podcast hosted by Senator Ted Cruz, Musk called the situation “insane.” Musk claimed that 14 such computers, mainly located at the Treasury Department, were responsible for issuing payments without clear accountability. “Any computer which can just make money out of thin air, that’s magic money,” he said. According to Musk, the government’s financial systems are not well-tracked, leading to significant inefficiencies and potential misuse of funds.

Trump administration. Reflecting on his 16-year journey from intern to CEO, Gardner emphasized his decision was driven by ensuring Amtrak’s alignment with the current administration’s priorities. His departure coincides with Elon Musk’s renewed push to privatize public services like Amtrak and the U.S. Postal Service. Musk, speaking at a March 5 conference, argued privatization could boost efficiency, claiming, “If it can reasonably be privatized, it should be.” Critics, however, point to failures like the U.K.’s recent rail renationalization after decades of private struggles.

IndusInd Bank on Thursday announced plans to appoint an independent professional firm to conduct a thorough investigation into discrepancies related to its derivative portfolio. The investigation will focus on identifying the root cause of the discrepancies, evaluating the accuracy and impact of the accounting treatment of the contracts, and ensuring compliance with prevailing accounting standards and guidance, the Bank said in an exchange filing. The bank intends for the investigation to assess any potential lapses and establish accountability regarding the accounting practices related to these derivative contracts. The outcome of the investigation will help determine the bank’s next steps in addressing any issues that may have arisen from these discrepancies.

The regulator told employees earlier this year that, as of 1 April, all emails will automatically be deleted after a year unless staff take specific steps to retain them. In the letter published today (20 March), a cohort made up of CEOs and senior directors from companies such as Positive Money, Sharesoc and the Tax Justice Network, argued that the FCA's policy would harm the rights of consumers, reduce the efficacy of the regulator, and damage the UK financial sector's reputation. FCA addresses criticism on plan to auto-delete staff emails after a year Freedom of Information requ...

Elon Musk and Minnesota Governor Tim Walz exchanged heated words online over Tesla's stock decline. Walz mocked Musk's financial losses, and the billionaire responded with a sarcastic rebuttal. As Tesla's value plummets, the billionaire's growing political power remains a source of contention.

Elon Musk's travel to Mars will be deemed safe after tech mogul's mother visits the red planet. Neil deGrasse Tyson doesn't think very highly of tech billionaire Elon Musk's desperate desire to send humans to Mars and the two have been at loggerheads over the topic for long. In an exclusive interview to NDTV, Neil deGrasse Tyson cracked the joke while speaking about the future of space tourism and if he was interested. «I joke about this — if you want me to get on an Elon rocket, I'll say first have him send his mother to Mars and back. Then I will go and know it's safe,» he told NDTV when asked about space exploration. ALSO READ: US recession chances thrice the normal rate now? Harvard Professor sounds alarm amid Trump's tariff initiative

This is the company's largest acquisition in its history. Google CEO Sundar Pichai and Google Cloud CEO Thomas Kurian reached out to employees telling them «why, and why now» in internal memos, as per Business Insider. An email was sent to Google staff on Tuesday in which the tech giant's top bosses explained why the company plans to spend $32 billion to acquire the cybersecurity startup, which marked the year's biggest deal so far — and the biggest deal of all time for Alphabet. ALSO READ: Trump's big crackdown on University of Pennsylvania over trans athlete policy: Story in 10 points

Nifty 50 crossing the 23,000 mark once again after a month, a mutual fund expert recommends that for investors looking for long-term wealth creation and have a stomach for equity market volatility, large and midcap funds / multicap funds / flexicap funds would be a good bet. “Large and mid-cap funds, multi-cap funds, or flexi-cap funds — for investors looking for long-term wealth creation and who can stomach equity market volatility, these funds would be a good bet, as they provide a portfolio mix across market capitalizations that helps reduce the impact of sharp gyrations in any particular segment of the market,” says Suresh Soni, CEO of Baroda BNP Paribas Asset Management. The expert also recommends that for such investors, where the recent 10% drop has brought the realization that equity investments can go up and down, but who still want a core of equity holdings for its status as the best-performing long-term asset class in India, hybrid equity schemes or balanced advantage funds would definitely be something to carefully consider. And for investors who believe in the dictum, “Don’t put all your eggs in one basket,” a diversified mix of multiple asset classes with low correlation to each other may be a preferred option.