CEO Financial News

European carmaker Stellantis says it will begin selling electric vehicles from its Chinese partner Leapmotor in nine European countries later this year

Dozens of Red Lobster locations across the U.S. are now on the chopping block

profit after tax (PAT) to Rs 379.8 crore in the March quarter. The company had posted a PAT of Rs 316.2 crore in the same quarter a year ago, Colgate-Palmolive (India) said in a regulatory filing. The company's net sales in the quarter under review increased to Rs 1,480.7 crore from Rs 1,341.7 crore in the same period a year ago, it added.

Zerodha Mutual Fund announced that Zerodha Nifty 1D Rate Liquid ETF crossed Rs 1,000 crore assets under management (AUM). The unique scheme from the fund house marked the arrival of Liquid ETFs that offer a growth NAV for the first time in India, according to a press release from the fund house. The fund was launched on January 24. Zerodha Nifty 1D Rate Liquid ETF is benchmarked against the Nifty 1D Rate Index, which measures the returns generated by market participants lending in the overnight market. The ETF primarily invests in TREPS (Treasury Bills Repurchase) traded on the CCIL (Clearing Corporation of India Ltd) platform. As the investment is made in overnight debt products backed by treasury bills, it carries a relatively low credit risk and low-interest rate risk.

Canada’s broadcasting regulator has granted Corus Entertainment Inc.’s request to ease some of its Canadian content spending requirements after the company warned of an increasingly dire financial situation.

A Walmart associate operates an autonomous forklift around the distribution center. (Credit: Walmart)

Godrej Properties Ltd, in 2009, Pirojsha Godrej, who was then its executive director, met up with the executives of a prominent Mumbai-based investment banking firm. The investment bank’s feedback wasn’t that encouraging. Godrej’s property business, executives from the bank said, wasn’t ready for an IPO yet; the developer needed to build scale.

Cyber-Physical Systems (TIPS 4.0), a bi-annual event, was conducted by the Department of Science and Technology (DST) under the aegis of the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS). The event, held on 13–14 May 2024, was hosted by the Technology Innovation Hub for IoT & IoE (TIH-IoT) at IIT Bombay. It witnessed the participation of 48 deeptech startups and a promising investment commitment towards 44 innovative startups. Shireesh Kedare, Director – IIT Bombay, addressed the gathering, followed by Abhay Karandikar, Secretary, DST. The inaugural session concluded with the remarks of Ekta Kapoor, Mission Director – NM-ICPS and Head of FFT Division, DST. Abhay Karandikar, Secretary, Department of Science and Technology (DST), said in a statement, “This is the first time that TIPS featured deeptech startups taking centre stage to present their work to potential investors, while their supporting Technology Innovation Hubs showcased their developments and progress in the workshops. This milestone demonstrates significant progress towards our mission, as we continue to foster lab-to-market opportunities to support deeptech innovators in our nation.”

In the wake of the lawful sentencing of FTX’s Sam Bankman-Fried and Binance’s former CEO, Changpeng Zhao, in cases relating to fraud, the verdict of another crypto-related trial is on the horizon. This time, it involves Alexey Pertsev, the Tornado Cash dev who is charged with over $1.2 billion laundering cases.

Google I/O Event 2024 Live Updates: Search Giant Google is hosting its annual developer conference, I/O 2024, at the Shoreline Amphitheatre in Mountain View, California starting from today. The event has gained renewed importance after Google's biggest AI rival, OpenAI held a ‘Spring Update’ event on Monday and unveiled its latest large language model, GPT-4o.

ChatGPT. GPT-4o is an advanced version of the AI technology powering the widely used generative tool, ChatGPT. To be freely available to all users as OpenAI rolls it out globally, GPT-4o boasts improved performance and efficiency.

Starbucks India-origin CEO Laxman Narasimhan shared a heartwarming post on LinkedIn about his mother’s influence on his life. She was a lighthouse for me despite the many rocks that life doles out. «I am who I am and where I am because of her and because of my family. It’s a big void. She lives on inside me. God bless her, and God bless us all. Mothers do incredible things. It’s my first Mother’s Day without her. Celebrate all Mom’s on this Mother’s Day in the United States. They make us special,» he said in the post. «She was the backbone of our family despite having lost 2 kids and a husband by the age of 48. She instead devoted her life to children- as a kindergarten teacher of many,» he said. «She loved America- and wish she had come here when she was younger. Never once did she complain about all of this- all may be once, when I was upset with her that she had not posted my Harvard application. She read in a book that the college was too competitive and she did not want me there. She was relieved when Harvard called me to speak there once. She celebrated like I had been admitted there and felt less guilt then,» he said.

OpenAI on May 13 showcased its latest AI model, GPT-4o, with a demo featuring voice interaction across text and images. This could keep the company "ahead of the race" in the global artificial intelligence landscape, Reuters reported. The GPT-4o boasts advanced audio capabilities, allowing users to engage in real-time conversations without delays and even interrupt the AI during its speech—a significant milestone in replicating natural human interaction, the report said.

Software company Squarespace is being taken private in an approximately $6.9 billion all-cash deal with private equity firm Permira

Storied French soccer club Saint-Étienne is in exclusive talks for a sale to the owner of the Toronto Raptors and Toronto Maple Leafs

Microsoft has announced its most substantial commitment yet to France

Melinda French Gates announced Monday that she will step down as co-chair of the Bill & Melinda Gates Foundation

A tiny, low-priced electric car called the Seagull has American automakers and politicians trembling

Perigon Wealth Management has announced a new leadership hire in a calculated move to support its ongoing expansion and commitment to enhancing advisor resources.

Kima, which describes itself as an asset-agnostic, peer-to-peer money transfer and payment protocol, has secured a grant from the Israel Innovation Authority to fund the plan.The startup and the FinSec lab will focus on developing a use case linking traditional financial instruments, such as bank accounts and credit cards, to DeFi protocols, platforms, and services.The collaboration aims to expand on Kima’s existing payment protocol — which facilitates direct money transfers via blockchain and bank accounts without using smart contracts.As part of the project, FinSec will operate a Kima node and serve as a stakeholder in its burgeoning cross-ecosystem network.

Cognizant workers refusing to return to office, the axe may be about to fall. The Nasdaq-listed company has warned defiant employees that they may be fired for not turning up, becoming the first large IT firm to invoke termination to repopulate office spaces. In a letter to employees in mid-April, Cognizant Technology Solutions Corp.