CEO Financial News

Coca-Cola Company on Tuesday said its beverage volume growth in 2023 in the developing and emerging market was led by India and Brazil. The India business «experienced a robust growth in 2023», said James Quincey, Chairman and CEO of the Coca-Cola Company during the earnings call on Tuesday. The company's net revenue for the December quarter grew 7% to USD 10.8 billion, and organic revenues (non-GAAP) grew 12%. For 2023, net revenues grew 6% to USD 45.8 billion.

Mangaluru-headquartered private lender Karnataka Bank bets big on technology to drive its business growth. Bank’s MD & CEO Srikrishnan H shares his views on the bank’s future in a chat with ET’s KR Balasubramanyam. Edited excerpts: Karnataka Bank was started with the goal of responding to the needs of the agriculture sector. In the crowded space of present-day banking, how do you see the bank’s future? Our bank adopted an agri- lending model on a large scale much before the regulations on priority sector lending kicked in. We will continue this legacy as we enter the next 100 years with continued focus on rural, agriculture, MSME and retail business. We are implementing technology-based deliveries in each of these verticals.

EY India has selected 11 entrepreneurs as finalists for EY Entrepreneur of the Year-India (EOY) 2023 Awards in its silver jubilee year. These finalists have combined revenues of over Rs 14,70,000 crore, market capitalisation of over Rs 42,00,000 crore and employ over 12,50,000 people worldwide. In addition to these finalists, EY has also announced that Venu Srinivasan, Chairman Emeritus, TVS Motor Company will be honoured with the Lifetime Achievement Award and Tata Sons’ Chairman Natarajan Chandrasekaran will be felicitated with Special Jury Award.

(Reuters) — Citigroup may need to prioritize fixing regulatory issues amid its global reorganization efforts, analysts at J.P.Morgan wrote in a note.

Former Home Depot CEO Bob Nardelli discusses shrinkflation as Americans still feel impact of economic pressures, Biden's handling of the U.S. economy and the growing national debt.

SJVN have fallen 20-37% from their peaks, while midcaps like Kajaria Ceramics, Rail Vikas Nigam Ltd (RVNL) and NHPC have plunged 20-26% from their highs. The correction in these stocks comes after a prolific run with markets discounting the re-rated prospects of some stocks ahead of their value.

LPL Financial Holdings Inc. said Tuesday morning it was acquiring Atria Wealth Solutions Inc., which launched as a broker-dealer aggregator in 2017 and has 2,400 financial advisors and registered reps across seven broker-dealers who work with $100 billion in client assets.

Zee Entertainment Enterprises Ltd is charting a three-pronged approach – cutting costs, reducing overlaps between businesses, and enhancing quality to regain margins – after its merger with Sony Pictures Entertainment collapsed, managing director and CEO Punit Goenka said in an earnings call on Tuesday. “Going forward, there will be a sharper emphasis on frugality, with a crystal-clear focus on quality and output. Across verticals – including technology, content and marketing – we are implementing steps to optimise spends and enhance the return on investments.

Biogen (NASDAQ:BIIB) shares are down more than 5% premarket Tuesday after the company reported earnings for its latest quarter, missing the consensus profit and revenue estimate.

Foundation-focused cloud SaaS technology firm Foundation Source has acquired PG Calc to enhance its suite of charitable giving solutions.

Shark Tank India, Radhika Gupta, CEO of Edelweiss Mutual Fund, has shared some insightful investment tips that are likely to hold investors in good stead. Gupta emphasises the significance of saving a portion of our income and investing it wisely. She advises that after deducting taxes and expenses from our earnings, one should strive to save at least 20%, 30%, or even 50% of the remaining amount.

Walmart has sourced goods worth over USD 30 billion from the Indian market in the last two decades for its global operations, a company official said on Tuesday. Now the Bentonville-headquartered firm has a goal to triple its sourcing of goods from India up to worth USD 10 billion per year by 2027, said Walmart Inc Executive Vice President, Sourcing Andrea Albright. Walmart is encouraging MSMEs (Micro, Small and Medium Enterprises) and entrepreneurs with proper training and believes that there is a tremendous opportunity to continue to contribute to India's growing economy, she said.

Evercore ISI senior managing director Mark Mahaney makes the case for raising Uber's price target and explains why he's staying away from Snap Inc. on 'Varney & Co.'

OpenAI said Tuesday that the dangers that keep him awake at night regarding artificial intelligence are the «very subtle societal misalignments» that could make the systems wreak havoc. Sam Altman, speaking at the World Government Summit in Dubai via a video call, reiterated his call for a body like the International Atomic Energy Agency to be created to oversee AI that's likely advancing faster than the world expects.

CEO of bankrupt crypto project SafeMoon Braden John Karony is released on bail, but his legal team no longer wants to represent him.

Creator Festival — Creators United 2024. The event, set for 15 March 2024, is the festival's second edition. The event will be organised collaboratively by Mad Influence in association with the Government of Maharashtra. The festival, which will be held at NESCO, Mumbai, is an exclusive, invite-only event, designed to offer a unique and engaging experience to over 1,000 influencers in addition to brands, agencies, and industry experts who will all come together for a celebration of creativity, innovation, and collaboration. «Celebrating innovation and creativity is essential to Maharashtra's values. As we embrace digital transformation, initiatives like Creators United 2024 play a pivotal role in fostering collaboration and driving economic growth,» Chief Minister of Maharashtra, Eknath Shinde, said in a statement.

Artificial Intelligence (AI) and High-Performance Computing, an analysis by recruitment firm TeamLease Digital found. "With generative AI automation set to transform workflows, freshers need to be prepared to collaborate effectively with AI systems," Jaideep Kewalramani COO of TeamLease EdTech said. However, the hiring intent for freshers in the IT sector has decreased to 42% in H1 2024 compared to 49% in the same period in 2023.

R Mukundan, MD & CEO, Tata Chemicals, says “the main issue which we will face going forward next year is going to be in terms of exports where compared to the pricing which we got in the export markets, we would see at least a $100 reduction. This is mainly out of exports coming out of the US and Europe. We have operations in the UK, similar to most people, there is going to be a compression of margin of at least a hundred pounds per tonne. Those are the two pressure points.”

The National Transportation Safety Board is investigating a California helicopter crash that killed the CEO of one of Nigeria’s largest banks

Elon Musk’s brain implant company Neuralink has moved its legal corporate home from Delaware to Nevada

Jeff Bezos has filed a statement with federal regulators indicating his sale of nearly 12 million shares of Amazon stock worth more than $2 billion