CEO Financial News

JPMorgan Chase CEO Jamie Dimon on the Federal Reserve's rate trajectory, 2024 economy, looming bank regulations and artificial intelligence.

Wipro’s new CEO and MD Srinivas Pallia in his first email to employees has said that resilience, tenacity, and adaptability would guide him as a leader, and past three decades since he joined the company in 1992 have been “transformative", according to Moneycontrol report citing the CEO’s email. “Your collective efforts have propelled our success, and I'm honoured to lead such a talented and diverse team," he also said, as per the report.

MUMBAI : Chandra Shekhar Ghosh, Bandhan Bank's founder and managing director and chief executive officer, has said he will not be part of the bank's board even in a non-executive role after he retires on 9 July. Speaking to analysts and investors in an early morning call on Monday, Ghosh clarified that the board will start the process of finding his successor and expects the names of candidates to be finalized by July. The board may even look at appointing an interim CEO post his tenure, if the Reserve Bank of India approval for the new CEO does not come in by then.

Detained Binance executive Tigran Gambaryan has pleaded not guilty to four counts of money laundering charges in Nigeria. 

California-based 99 Cents Only Stores says it will close all 371 of its outlets effective Friday

The nation’s most influential banker, JPMorgan Chase CEO Jamie Dimon, told investors that he continues to expect the U.S. economy to be resilient and grow this year

Boeing CEO David Calhoun is getting compensation valued at $33 million for last year, nearly all of it in stock awards

NEW DELHI : Power distribution companies in the national capital are gearing up to meet record demand for electricity amid expectations of a scorching summer as the world’s largest democracy goes to the polls. According to the State Load Despatch Centre, Delhi, peak power demand in the national capital may cross 8,000 MW for the first time.

The AIC noted the last tax year marked the third highest fundraising by VCTs, despite falling 18% from just over £1bn in 2022/23. The sector's record was reached in the 2021/22 financial year, when fundraising hit £1.1bn, meaning that in the last three tax years, VCTs raised more than £3bn. Investment into VCTs hits £144.5m in four weeks as tax year end looms Richard Stone, CEO of the AIC, said: «The continued strong fundraising by VCTs will be a great benefit to the UK's innovative young businesses in a challenging environment. „This support has an impact beyond the businesses ...

LCH will provide clearing through its new DigitalAssetClear service for cash-settled Bitcoin index futures and options contracts traded on the UK-based digital asset derivatives trading venue, GFO-X. Launching later this year, LCH DigitalAssetClear will operate a fully segregated clearing service - including a segregated default fund and a dedicated set of clearing rules - for market participants clearing these instruments.

Kotak Alternate Asset Managers Limited announced that its iconic fund has successfully raised Rs 2,000 crore. Kotak Iconic Fund, an open-ended fund, has been conceptualised as an equity multi-advisor portfolio solution. The fund has maintained a flexible approach by adopting diversified active and passive strategies across market capitalisation and tactical allocations, according to the press release. Kotak Iconic Fund solves this with its disciplined framework-based investing and risk management to deliver a smooth investing journey.

JPMorgan Chase CEO Jamie Dimon, told investors Monday that he continues to expect the US economy to be resilient and grow this year. But he worries geopolitical events including the war in Ukraine and the Israel-Hamas war, as well as US political polarisation, might be creating an environment that «may very well be creating risks that could eclipse anything since World War II.» The comments came in an annual shareholder letter from Dimon, who often uses the letter to weigh in broad topics like politics, regulation and global events and what it might mean to JPMorgan Chase, as well as the broader economy.

Tata Advanced Systems Limited on Monday announced the «successful deployment» into space of its sub-metre optical satellite that was assembled and tested in India. SpaceX's Falcon 9 rocket launched TSAT-1A satellite from the Kennedy Space Center, Florida, in the US on Sunday (April 7), Tata Advanced Systems Limited (TASL) said in a statement. «TSAT-1A will deliver high-resolution optical satellite images with increased collection capacity, dynamic range, and low-latency delivery through its multispectral and hyperspectral capabilities,» the company said. A wholly owned subsidiary of Tata Sons, TASL is a significant player for aerospace and defence solutions in India.

₹452, indicating an upside of over 86 percent from its current market price of ₹242.60. Yes Securities initiated the rating on Puravankara Ltd (PURVA) based on the following factors: (1) Presales to grow at 20 percent CAGR over FY23-26E, (2) Debt and debt coverage well under control, (3) Strong execution track record over the decade, (4) Strong P&L (profit and loss) recognition expected in next 5-7 years, (5) Paradigm shift in focus following onboarding of new CEO.

Ripple CEO Brad Garlinghouse anticipates that the crypto market capitalization will exceed $5 trillion by the end of the current year.

₹13.8 crore in 2024, 40% higher than pre-covid levels, according to the Deloitte India Executive Performance and Rewards Survey. The average salary of junior executives is estimated to have grown at about half that rate over the same period. According to the survey, every second CEO has a target compensation of more than ₹10 crore in 2024, compared with every third CEO in 2020.

Electric vs Petrol: Ather launches new family e-scooter ‘Rizta’, CEO Tarun Mehta says continuation of subsides vital Contrastingly, fuel demand for FY24, ending in March, reached a record high of 233.276 million tons (4.67 mbpd). This figure surpassed the previous year's consumption of 223.021 million tons (4.48 mbpd).

₹110 crore in Biodeal Pharmaceuticals Ltd, a contract development and manufacturing organization. The company in a filing disclosed that the deal is being facilitated through convertible instruments from its performing credit fund and will be directed towards improving infrastructure and capacities, upgrading technology, and nutraceuticals manufacturing facility. Emkay Global was the exclusive financial advisor to Biodeal for this deal.

Wipro have gone up 116% during Frenchman Thierry Delaporte's tenure as the CEO and MD. With effect from April 6, Srinivas Pallia, CEO of the Americas 1 business unit of Wipro, has taken over the hot seat. Delaporte had joined Wipro on July 6, 2020, when the market capitalisation was around Rs 117,500 crore. It ended at Rs 2.53 lakh crore at the end of Friday's session. After the rejig at the top management, the stock fell up to 1% at Rs 478.40 on BSE on Monday.

Bandhan Bank's founder and managing director Chandrashekhar Ghosh will not be part of the bank's board in a non-executive role once he retires on 9 July. Speaking to analysts and investors on Monday, Ghosh clarified that the board will start the process of finding his successor and expects the names of candidates to be finalized by July. Explaining the rationale behind this sudden decision to step down, Ghosh clarified that it was a voluntary decision and that the Reserve Bank of India (RBI) had no role to play in his resignation.

chocolate makers like Amul, but also prominent ice cream brands like Baskin Robbins and Havmor, are grappling with the impact of higher cocoa costs, a TOI report stated. Amul, a significant player in the chocolate market, is considering a significant price hike for its chocolate products. Jayen Mehta, Managing Director at Gujarat Cooperative Milk Marketing Federation (GCMMF), the umbrella organization for Amul, revealed that the price of cocoa beans has skyrocketed in India, reaching Rs 800 per kg from its previous range of Rs 150-250. Mehta emphasized the inevitability of passing on this cost burden to consumers, with a projected increase of 10-20% in chocolate prices within the next two months. Despite the looming price hike for chocolates, Amul intends to maintain the current prices of its ice creams and beverages, acknowledging the challenges of adjusting prices for seasonal products. Mehta expressed confidence in the competitiveness of their offerings, suggesting that the impact on market share would be minimal.