CEO Financial News

Blackstone Chairman, CEO and co-founder Stephen Schwarzman provides his 2024 economic outlook, his thoughts on commercial real estate, capital market activity and downside risks to A.I.

South Korean blockchain network Ozys has made a damning revelation in the aftermath of its January 1, 2024 platform hack.

By Aditya Soni

By Abhirup Roy

NEW DELHI : Planned job cuts in Britain by India's Tata Steel were the "least bad option," and the company will continue to hold talks with unions and hopes to reach a conclusion over the next two months, CEO TV Narendran said. The steelmaker will close its two blast furnaces in Britain by the end of this year, axing up to 2,800 jobs at its Port Talbot steelworks in Wales.

Moneycontrol on January 25. The Bengaluru-based e-commerce giant had around 22,000 people on its payroll, including employees from e-commerce fashion portal Myntra. According to the report, Flipkart undertakes these performance-based job cost cuts every year and this fresh reduction is just a regular process.

According to a report from The Verge, Microsoft (NASDAQ:MSFT) is laying off 1,900 workers at Activision Blizzard and Xbox this week.

Tesla (NASDAQ:TSLA)'s CEO Elon Musk issued a warning on Wednesday, suggesting that Chinese automakers would “destroy” global competitors if trade barriers are eliminated.

By Joseph White

BENGALURU : Tesla tumbled more than 8% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins and raised investor concerns at the world's most valuable automaker. Musk said growth would be "notably lower" as Tesla focuses on a cheaper, next-generation electric vehicle to be made at its Texas factory in the second half of 2025, which is expected to spark the next boom in deliveries. But his remarks fell flat with investors, with Tesla set to lose more than $50 billion in market value, if premarket loss hold.

Binance founder Changpeng “CZ” Zhao’s request to travel from the US to the United Arab Emirates (UAE) for personal reasons has been denied by a US federal judge, a recent court filing has revealed.

With everyday tasks so reliant on technology, advisors were recently asked about how their firms handle technology.

Stifel Financial Corp. reported Wednesday morning that its wealth management franchise ended last year with a flourish, hitting a new high in client assets under management at $444 billion at the end of last month, a year-over-year increase of 14 percent.

Prior to founding Verdence Capital Advisors, Leo Kelly was a proud member, not to mention managing director and Circle of Champions inductee, of Merrill Lynch’s vaunted “Thundering Herd” of financial advisors.

An inital $35 million target was exceeded with Azimut Holding, a global asset management group and existing client, as the lead investor.The round pushes Sygnum's valuation up to $900 million, a $100 million uplift from its $90 million Series B in october 2022.Since then, Sygnum's assets under administration have grown to over $4 billion, with a client base of over 1,700 from more than 60 countries. Alongside the increase in valuation, the group continued to grow its global team through the 'crypto winter', now nearing 250 employees.

MakeMyTrip said on Thursday it had completed the Savaari transaction by aquiring a controlling stake in the car rental service provider. MakeMyTrip had announced in its second quarter FY23-24 results that it has entered into an agreement to acquire a majority stake in Savaari Car Rentals Private Limited. Savaari will continue to operate as an independent entity led by the existing leadership team, the company said in a statement.

DCB Bank fell over 6 percent on Thursday after the lender witnessed a decline in its net interest margin (NIM) for the quarter ended December (Q3FY24). Its NIM for Q3FY24 declined sharply 21 bps QoQ to 3.48 percent. The lender posted an 11.2 percent year-on-year (YoY) rise in its net profit to ₹126.6 crore for the third quarter of FY24, as against ₹113.9 crore in the same period last year.

The CEO of the Bill & Melinda Gates Foundation is calling on billionaires to give away more of their money to address inequality and to do it soon

₹1,349.65 against the previous close of ₹1,407.75 and soon fell over 6 per cent to hit the level of ₹1,322. Around 9:20 am, the stock traded 5.53 per cent lower at ₹1,329.95. Tech Mahindra Q3 results: After market hours on Wednesday, Tech Mahindra reported a 61 per cent year-on-year (YoY) decline in its net profits which plunged to ₹510.4 crore in the December 2023 quarter from ₹1,296.6 crore in the year-ago period.

The Friction Project: How Smart Leaders Make the Right Things Easier and the Wrong Things Harder." Yet in the course of our research, we also learned that the opposite lesson is just as important: The best bosses don’t strive to build entirely frictionless organizations. Instead, they know when and how to help their charges to slow down. In effect, they know what every race-car driver knows: If you want to win, tapping the brakes at the right times is as important as pushing the pedal to the metal.

Sony Group Corp.’s lawyers got a nasty surprise during a routine call from the legal team of Zee Enterprises Entertainment Ltd. Nearly two years into tortuous merger negotiations to create a $10 billion Indian entertainment giant, Zee wanted the Japanese company to agree to a so-called “hold harmless” clause for its Chief Executive Officer, Punit Goenka, just weeks before the Dec. 21 deal deadline. Already wary of Goenka, who had been accused of financial impropriety by India’s markets regulator several months earlier, Sony executives wondered why he requested indemnity. On his part, Goenka was worried that Sony would start a witch hunt against him after the merger was completed and it got what it wanted: access to Zee’s deep library of local entertainment content. The account of this weeks-long stalemate was pieced together by speaking to people familiar with the matter who asked not to be identified as the talks were private.