CEO Financial News

Flipkart has made a one-time change to its increment policy this year, giving merit-linked payouts to all eligible employees in Grade 12 (mid-management) and below, instead of the usual pay hikes. In effect, employees will get two lump sum payments in April and October this year, equivalent in value to the salary increase that would have otherwise been paid out throughout the year. About 19,000-20,000 employees would benefit from this, a Flipkart executive told ET. The company will also roll out 100% bonuses to all its employees this year. Employees who are promoted will receive increments as usual, across grades. For the rest of the grades, the company has enabled wider spread of ESOP allocation to drive wealth creation.

Shares of Accenture (NYSE:ACN) fell 5% in premarket trading Thursday after the professional services company reduced its revenue growth outlook for the full fiscal 2024 year.

Microsoft's Windows 11 to transform upcoming PCs with game-changing 'AI Explorer' feature: Report Suleyman, who led a rival artificial intelligence startup called Inflection AI, has joined Microsoft along with many key employees at his former company. The appointment of the 39 year old AI leader is being seen as an effort by Microsoft to improve its in-house AI capabilities.

By Selena Li and Brenda Goh

Adani Group stocks following Hindenburg Research’s scathing indictment was cutting against the grain — the cumulative value of the ports-to-power conglomerate’s stocks had nosedived more than $150 billion at one point — but GQG’s confidence capital at the nick of time helped soothe nerves while simultaneously raising eyebrows over the gumption of GQG’s founding chairman Rajiv Jain. Unknown to many, behind the scenes Jefferies was busy playing the match maker. Being the sole broker on India’s largest block trade (GQG’s $1.1 billion into Adani Power, as part of the larger $1.87 billion) thus became the breakout moment for Wall Street’s “challenger” investment bank Jefferies. When most other advisors were pulling back, Jefferies chose to pull out all stops for their client.

Existing investors such as the promoter family offices of TVS Capital, Ajanta Pharma, Pidilite, Dalmia and Dabur are likely to invest in this Category-III Alternative Investment Fund (AIF), said people in the know. The private investment in public equity (PIPE) fund has already received commitments worth ₹500 crore, they said.

Hennion & Walsh Asset Management President and CIO Kevin Mahn reacts to a Zillow economist warning a 7% mortgage rate could be the new normal on ‘The Big Money Show.’

The chief executive of the cryptocurrency company Sam Bankman-Fried founded attacked the onetime crypto power player in a letter to a federal judge, saying his claim that customers, lenders and investors were not harmed was callously false

Tennis could be on the verge of massive structural change if one of two separate proposals formulated by the four Grand Slam tournaments and the WTA and ATP professional tours ends up moving forward

Angela Chao, a shipping industry CEO and sister-in-law to Senate Minority Leader Mitch McConnell, was intoxicated when she drove into a pond and died last month in Texas

Air India has seen a cultural transformation after its takeover by the Tata Group, triggered by infusion of new employees and training, managing director Campbell Wilson said. The takeover of the airline has seen Air India hire new employees and part with some of the older staff. The average age of employees has come down to 34 years from 54 after its privatisation, Wilson said at the Skift India Summit 2024 on Wednesday. «There had been no recruitment in non-flying staff for the last 15 years (before the acquisition in 2022). We have been able to recruit a whole bunch of people not only for necessity but also for their competency and bring down the average age of employees,» he said.

DeVoe & Co., a consulting and investment banking firm focused on the wealth management sector, has appointed a new head of marketing.

phase of the Lok Sabha elections in West Bengal, covering three constituencies, was issued on Wednesday. The constituencies slated for the first phase are Cooch Behar, Jalpaiguri, and Alipurduar, all of which were clinched by the BJP in the 2019 Lok Sabha elections. Voting for these seats in the northern part of the state will be held on April 19. The process for filing nominations by candidates for this phase began on Wednesday and it will continue till March 28, with the withdrawal deadline being April 2.

₹66.62 billion, or 8.4% of Wipro’s ₹795 billion revenue for the financial year ended 31 March 2022, according to the company's financials. Wipro’s revenue from the banking, financial services, and insurance (BFSI) vertical has been falling since the quarter ended December 2022.

Spring is officially underway in Canada, and for some it may mean deciding whether this could be the year to buy a cottage or cabin.

Akasa Air is confident that deliveries of its ordered Boeing 737 MAX jets will be on time, its CEO said, despite concerns over the U.S. planemaker's production schedule for 737s amid intense scrutiny after a mid-air incident this year. India's newest airline in January announced an order for 150 Boeing 737s, as it bets big on its international operations. The order announcement came days after a mid-air cabin panel blowout on an Alaska Air flight. Though Akasa's order does not include the 737 Max 9 version which has been in the spotlight after the incident, broader internal company scrutiny and external investigations in the U.S. have raised worries that delivery timeline of other variants of Boeing's 737 jetliner programme could be hit.

It was just weeks ago when BlackRock Inc. CEO Larry Fink took the stage with Texas Lt. Gov. Dan Patrick at an industry event in Houston.

American bank customers are concerned that overregulation of the banking industry will lead to restricted access to credit.

By Dawn Chmielewski and Svea Herbst-Bayliss

ALSO READ: ‘Forever indebted to MS Dhoni’: R Ashwin recalls Captain Cool's confidence during 2011 IPL Final The latest video of Dhoni practicing before the match has gone viral on social media, where he can be seen playing his vintage helicopter shot and also other shots. Earlier in 2023, Dhoni played the IPL season with an injured knee.

JetBlue Airways is cutting back