CEO Financial News

Biocon Biologics on Tuesday said it has received approval from the US health regulator for its biosimilar product to treat different types of ophthalmology conditions. The US Food and Drug Administration (USFDA) has approved the company's first-to-file application for Yesafili, a vascular endothelial growth factor inhibitor used to treat several different types of ophthalmology conditions, the company said in a statement. Biocon Biologics is a part of Biocon Ltd. Yesafili is intended for the treatment of neovascular age-related macular degeneration, visual impairment due to macular oedema secondary to retinal vein occlusion, visual impairment due to diabetic macular oedema and visual impairment due to myopic choroidal neovascularisation.

Hindustan Times report, CSK coach Fleming was the board's first choice to appoint as India's head coach after the T20 World Cup, however, the former Kiwi skipper expressed his reluctance to commit untill 2027. Sources also told HT that Fleming had made it clear with the BCCI in the initial discussions, after which the board started to look for other options inclduing Gautam Gambhir, Ricky Ponting, Justin Langer, Mahela Jayawardene.

Wipro, which has recently undertaken a management rejig after the appointment of new chief executive Srinivas Pallia, announced some more incremental organisational changes last week, according to an email to employees that ET has seen. Jason Eichenholz, who is senior vice president and global head of Ecosystems & Partnerships, will now report to Jo Debecker, head of Wipro's FullStride Cloud business line. While Eichenholz joined Wipro in August 2021, Debecker has been with Wipro since January 2022. Before joining Wipro, Debecker was chief delivery officer and head of group operations at Atos.

JPMorgan Chase & Co. told shareholders the timetable is “not five years anymore," in response to a question about how long he planned to remain CEO. The largest US bank is “well on the way" with its succession plans, he said during the firm’s investor day.

Mahindra & Mahindra (M&M) is set to embark on its next phase of expansion after shedding flab under the stewardship of group MD and CEO Anish Shah. In the past four years, the Rs 1.39 lakh crore group has exited 15 businesses ranging from yachts and helicopters to dairy and special steel as well as loss-making overseas subsidiaries such as SsangYong Motor and Peugeot Motocycles.

This past week, a major conviction occurred in a crypto technology case, as a developer of privacy-preserving software was convicted for money laundering in the Netherlands. The CEO of digital asset manager Grayscale also resigned, and a report suggested the crypto industry could have a bigger political impact than ever through lobbying efforts.

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JB Pharma forecasts its revenues to grow 12-14% and the earnings before interest, tax, depreciation, and amortisation (Ebitda) margins by 27-28% in FY25, the company's top executive said.

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With a staggering 59 million new users joining in the latter half of 2023, the global cryptocurrency community now surpasses 420 million. Despite this surge, only a small fraction – merely 10% of total users – manages to capitalize on the market’s potential; and out of these 10%, only 0.02% people have managed to make a million or more out of their investments. That means, without expertise, you are approximately 1800 times more likely to experience losses with cryptocurrency than to achieve the level where you can retire comfortably solely from those investments.

U.S.-based restaurant chain Red Lobster has filed for Chapter 11 bankruptcy protection in a Florida court after securing US$100 million in financing commitments from its existing lenders, the company said on Sunday.

visit to China and nearly a month after he cancelled his visit to India. Musk's plan to visit India between April 20 and 22 was cancelled at the last moment, and there is no update on Tesla's entry into the Indian market. According to a PTI report, Elon Musk's Tesla is yet to inform India about its plans to enter the country.

KKR & Co is all set to sell its education portfolio in India — Lighthouse Learning (formerly Eurokids International). KKR has hired JP Morgan and Avendus to run the sale process, which is expected to be launched by next week, said two sources aware of the development.

Boeing shareholders have approved CEO David Calhoun’s $32.8 million compensation

A local council in Germany has approved a plan by electric carmaker Tesla to expand the grounds of its first plant in Europe, a proposal which has drawn persistent protests this year

A former OpenAI leader who resigned from the company earlier this week says that product safety has “taken a backseat to shiny products” at the influential artificial intelligence company

The CEO of the Ram and Dodge brands and the unofficial voice of American muscle cars is retiring from Stellantis after nearly 32 years

OpenAI and Reddit are teaming up in a deal that will bring the social media platform’s content to ChatGPT

South Korea is set to host a mini-summit this week on risks and regulation of artificial intelligence

Bruce Nordstrom, a retail executive who helped expand his family’s Pacific Northwest department store chain into an upscale national brand, has died

Vegas tourism authority sponsoring each Aces player for $100K in 2024 and 2025.