CEO Financial News

(Reuters) — Henry Schein (NASDAQ:HSIC) forecast 2024 adjusted profit below Wall Street estimates on Tuesday, as the dental products distributor expects the impact from a cyber attack it reported in October to spill into this year.

Sebi's proposal of allowing mutual fund houses to have a single fund manager to oversee commodity and foreign investments is aimed at reducing the cost of managing the fund, a top official of Anand Rathi Wealth said on Tuesday. Sebi, on Friday, came out with a consultation paper proposing measures to support ease of doing business for Mutual Funds (MFs). In the draft paper, the regulator suggested appointing a single fund manager for domestic and overseas/commodity funds, relaxation of nomination requirement for joint holders and streamlining of prudential norms for passive schemes with respect to exposure to a single issuer within the AMC's group companies. This came after the Finance Minister in the FY24 Budget made an announcement to simplify, ease and reduce cost of compliance for participants in the financial sector through a consultative approach.

Zerodha's CEO Nithin Kamath revealed on Monday that he experienced a «mild stroke» six weeks ago. He attributed the stroke to a combination of factors including the recent passing of his father, poor sleep, exhaustion, dehydration, and excessive exercise. The revelation by 44-year-old Kamath, who is a fitness enthusiast, has reignited debate about work-life balance. Kamath noticed symptoms such as facial drooping and difficulty with reading and writing. He anticipates a full recovery within 3-6 months. After the mild stroke, Nithin Kamath said he wondered «why a person who's fit and takes care of himself could be affected». Zerodha cofounder said that his doctor «said you need to know when you need to shift the gears down a bit.» Noting that Nithin Kamath is one of the «fittest persons», Hyderabad-based neurologist Dr Sudhir Kumar said the Zerodha founder has rightly has rightly recognized five likely risk factors that could have caused his stroke: Stress (of losing his father), sleep deprivation, over-exercising (over-working out), exhaustion (related to work commitments and workouts) and dehydration.

Hockey India CEO Elena Norman on Tuesday said the work environment in HI was «suffocating» and she had no choice but to call it quits. After holding the position for 13 years, Norman resigned and even though HI did not reveal the specific reasons for her decision in its official statement, the Australian spoke out on what pushed her to exit. «Absolutely, it was getting tough to deliver in the fight between two factions. The environment was becoming suffocating,» Norman told PTI in an interview. «There are two factions in Hockey India. There is (President) Dilip Tirkey and I and there is (Secretary) Bholanath Singh, (Executive Director) Cdr. R K Srivastava and (Treasurer) Sekar J Manoharan,» she said.

Goan luxury real estate developer Sun Estates is expected to generate Rs 320 crore from two projects Sol Reserve and Saipem Hills 2, a senior executive said. Sol Reserve will have 16 ultra-luxurious 4 BHK villas, priced from Rs 7 crore. Another project Saipem Hills 2 will have villas ranging from 4,000 to 6,000 sq for and each villa comes complete with private pools, gardens, and fully furnished interiors.

Piyush Goyal on Tuesday said there is an urgent need to give a boost to small businesses in the textile sector to help them realise their true potential. Speaking at Bharat Tex-2024 in Delhi, Goyal talked about helping SMEs in the textile sector by providing them with modern machines and other allied infrastructure. He said that the textile sector would not just be benefited through any one government scheme but by their convergence. “No one government scheme would help the textile industry, but a convergence of all schemes in a streamlined manner could help in this regard.” The minister called for intelligently using the budget for handloom and handicraft, and making the budgetary spending transparent. He also said that industry and government officials should work together to help artisans earn more. “Let’s take our industry to other countries where we know the market.”

Bristol Myers Squibb aims to expand its research and development presence in India and expects its newly inaugurated Hyderabad facility to become its largest unit outside the U.S. by 2025, CEO Christopher Boerner said on Tuesday. The $100-million facility, inaugurated by Boerner on Monday, is expected to employ over 1,500 employees and will be used to enhance its drug development through the use of digital technologies and artificial intelligence, he said in his keynote speech at the BioAsia conference. Bristol Myers also operates a research and development centre in Bengaluru in partnership with the Biocon Group's Syngene International.

LIC Pension, UTI Pension, and SBI Pension Management. According to Ashish Aggarwal, Director, Acube Ventures, NPS aims to maximize returns for investors while minimizing risks - a prudent strategy for such a large, nationwide pension system.

businesses need to nurture and invest in startups but not with an intention of owning them, Deepinder Goyal, founder and CEO of food-delivery company Zomato said on Tuesday. “I think established businesses need to nurture startups…and I don’t think we have that kind of a culture yet, and larger businesses also need to start funding startups but not with an intention to own them but with an intention to help them become bigger,” Goyal said, at the curtain raiser event of the Startup Mahakumbh, which is slated to happen on March 18-20.

By Linda Pasquini and Alexander Hübner

Ashneer Grover has taken a jibe at Anupam Mittal, the founder of Shaadi.com, over a comment on a recent episode of Shark Tank India Season 3. “Mittal saab ki, na, umr ho gayi hai! (Mr. Mittal, you see, has gotten old)," he said while responding to a live audience.

₹449.30 apiece on the BSE. One97 Communications, the parent company of Paytm said it has withdrawn its nominee from the Paytm Payments Bank Board and Vijay Shekhar Sharma has stepped down as Part-Time non-executive Chairman and Board member to enable the reconstitution of the board.

Hindustan Times. The total dues of the developers is ₹2,000 crore of which they have agreed to pay ₹552 crore to obtain the permission for registries for the stalled housing projects. The 35 housing projects where flats are eligible for registries include The Hyde Park in Sector 78, Prateek Fedora in Sector 61, Apex Dream Homes in Sector 75, Gulshan Homes in Sector 144, Divine Meadows in Sector 108, Golf Avenue in Sector 75, Elite Homes in Sector 77, Gulshan Botnia in Sector 144, Mahagun Moderne in Sector 78, Sunshine Helios in Sector 78, Sunworld in Sector 107, PAN Realtors in Sector 70, ATS Township in Sector 104 and Omaxe Buildwell in Sector 93B, among others as per the HT report.

Byju’s woes: The National Company Law Tribunal (NCLT) has registered a new plea filed by four investors against Byju’s, the Indian Edtech major. The investors have accused the company’s management of oppression and mismanagement, according to a report by Moneycontrol.

SpaceX's lawsuit claiming a US labour board's structure is unconstitutional, after a judge in Texas granted the agency's request to send it to California. A panel of the New Orleans-based 5th US Circuit Court of Appeals in a brief order said the Los Angeles federal court should not have processed the transfer last week, days after the appeals court paused it pending an appeal by SpaceX.

By Lewis Jackson and Sameer Manekar

Expedia said on Monday it was cutting about 1,500 jobs globally, or about 9% of its total workforce, as part of its «organizational and technological transformation». The restructuring comes after Expedia warned earlier this month that revenue would moderate in 2024 as air ticket prices drop and said CEO Peter Kern was stepping down.

that its Arkansas distribution center shipped FDA-regulated products to more than 400 Family Dollar stores in Alabama, Missouri, Mississippi, Louisiana, Arkansas, and Tennessee. According to the plea agreement, the company began receiving reports in August 2020 of mouse and pest issues with deliveries to stores.

The Claman Countdown panelists Kenny Polcari and Joseph Lavorgna break down the Federal Reserves moves.

Cetera is hoping to entice more advisors and firms to affiliate with its advisor growth platform by introducing a new guarantee.

By Tatiana Bautzer and Nupur Anand