CEO Financial News

Bitcoin mining companies are experiencing a significant decline in their stock prices as they face reduced revenue due to an upcoming code update for the largest cryptocurrency. 

Tarc Ltd, has reported Rs 1,612 crore pre-sales in FY 23-24, a 200% growth from previous year as demand for luxury real estate state continued. The company also achieved its highest annual collection to date, reaching Rs 415 crore. The fourth quarter of FY2023-24 witnessed exceptional sales, with TARC Limited recording sales amounting to Rs 1,281 crore. This staggering growth of over 600% on a year-on-year basis can be attributed largely to the success of the recently launched project, TARC Kailasa, located in New Delhi.

Indus Towers expects that Vodafone Idea will pay its entire past dues amounting to around Rs 5,700 crore soon with the latter securing funding. However, the payment may happen at one go or in tranches. Asked about Vodafone Idea (VIL) fundraising plans and what it means for Indus Towers, Prachur Sah, Managing Director & CEO, Indus Towers told ET, “We are pleased to see the positive developments on Vodafone Idea’s fundraise and expect that VIL will clear over-dues of Indus in its entirety.” To a query around VIL’s plans to rollout 5G, he added, “We remain committed to supporting all our customers in their growth plans and are best positioned to do the same for VIL.”

Arvind Kejriwal, in jail in connection with the liquor policy case, on Tuesday alleging AAP minister Atishi was using the death of a woman in a fight over fetching water for «narrow political goals». Atishi dismissed the charge in a letter addressed to the Lt Governor and termed his missive «unfortunate» and «may be intended for optics». Saxena's letter was in response to a letter by Atishi wherein she sought suspension of the CEO of Delhi Jal Board over the murder case. «It has become habitual on the part of your ministers to blame officers for their own fault,» he wrote, stressing he had to write the open letter as «direct communication with you in present circumstances is not possible». He also accused the AAP government of deceiving the people by «creating a chimera of free water». «Instead of fixing the iniquitous water supply, you and your ministers created a chimera of free water. Deception of people has been mastered into an art form by you and your minister,» he said.

Apple CEO Tim Cook said Tuesday that he wants to further increase investment in Vietnam a day after the company announced it would spending on suppliers in the Southeast Asian manufacturing hub

LightFury Games, a gaming startup launched by Karan Shroff, former chief marketing officer of Unacademy, has secured $8.5 million in a seed funding round led by Blume Ventures, Mixi and Gemba Capital. Other investors such as Cred founder Kunal Shah and Unacademy CEO Gaurav Munjal also participated in the round. The startup plans to utilise the new capital to develop AAA games in India and will initially focus on mobile gaming before expanding to other platforms, including consoles.

South Korean police have raided the offices of the sports-themed blockchain platform Winnerz as part of a probe into claims its WNZ token is a “scam coin.”

Tata Consultancy Services has built one of the largest and most artificial-intelligence-ready workforces in the world, chief executive officer K Krithivasan said in an email to employees at the start of the new fiscal year. In the email, a copy of which ET has seen, Krithivasan thanked employees for their efforts in learning and skilling themselves on AI. «TCS is currently working over 200 engagements in GenAI with our clients and foresees a promising pipeline of future work across all industries,» said Krithivasan who will complete a year at the helm of TCS in June.

Joe Duran told growth-hungry RIAs to home in on what he believes is the biggest gap in the industry right now – stagnant organic growth.

The countdown is on at Citigroup. In less than two months' time, Vis Raghavan, whom JPMorgan had only recently promoted as head of its investment bank, is joining Citi as head of all banking. 

Morgan Stanley's new CEO Ted Pick has a reputation for fragrant phrasing, and speaking today he used it to strong effect in the bank's investor call to accompany itsfirst quarter results.  

Citigroup’s chief investment officer for its wealth division, David Bailin, is leaving the bank after 15 years.

Since November, Crypto.com has already brought in 700 people, with plans to add 500 more in customer services roles and 200 in corporate positions, CEO Kris Marszalek tells Bloomberg. The spree comes as the sector rebounds from a crypto winter that saw many major firms take an axe to their workforce amid the FTX collapse fallout and wider economic headwinds. In January 2023, Marszalek singled out the FTX debacle when announcing that Crypto.com would reduce its headcount by 20%.

On a recent overcast Wednesday, Richard Galanti was at his cubicle by 8 a.m., as usual. What was unusual: It was his first week not being Costco Wholesale’s finance chief, a job he held for nearly four decades as the longest-serving CFO of a major U.S. public company.

First cottage cheese got a glow-up. Then canned fish and olive oil developed a new look. Now inglorious produce is getting its turn in the stylist’s chair.

Chunky bootmaker Dr. Martens is warning of a tough year ahead

Former Tesla board member Steve Westly joins ‘Varney & Co.’ to break down the automakers' 1Q delivery report and its potential impact on the stock market.

'Kudlow' panelists Steve Moore, Kevin Hassett and Steve Forbes react to the president's planned sweeping tax hikes.

Aditya Birla Capital Ltd (ABCL), the non banking finance company (NBFC) of the $65 billion cement to fashion group, plans to double its customer base in the next three years riding on a new digital application which will allow the company to lend, sell insurance and also offer payment solutions to customers. The financial services company expects to add 30 million new customers in the next three years, tapping dealers, vendors, distributors besides retail customers in its ecosystem, doubling its 35 million customer base currently. Chairman Kumar Mangalam Birla said the cement to fashion group will tap the 250 million customers across the group, its 2.5 lakh MSME partners and also its 1.87 lakh workforce as it seeks to expand its financial business through the Aditya Birla Capital Digital (ABCD) application housed under a wholly owned subsidiary of ABCL. ABCD will be a separate entity at an arms length basis acting like a direct selling agent of ABCL for which it will earn fees.

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Bitcoin may experience some selling pressure in the lead-up to the highly anticipated halving event, but the long-term outlook remains bullish.