CEO Financial News

IDFC First Bank Q3 Results: IDFC First Bank announced its October-December quarter results for fiscal 2023-24 (Q3FY24), reporting a rise of 18.4 per cent in net profit at ₹715 crore, compared to ₹604.6 crore in the year-ago period. The private sector lender's net interest income (NII) - the difference between interest earned and interest expended - rose 30.5 per cent to ₹4,286.6 crore, compared to ₹3,284.3 crore in the corresponding period last year.

aviation regulator DGCA to take strict action against the airline. IndiGo Airlines responded to the allegations and said that the flight was diverted due to bad weather conditions in Ranchi and all passengers were provided with meals. The airline added that it gave the option to passengers to either choose a refund or alternate flight.

Digital payments major PhonePe on Thursday announced that it has sold over 9 million policies, since launching their insurance platform in September 2021, with 4 million of those coming in the last year alone.

Wayfair is set to cut 1,650 jobs, representing 13 per cent of its workforce, following a recent memo from CEO Niraj Shah that stirred controversy. The memo, leaked to the media, urged employees to work longer hours and drew criticism from both workers and the public. Wayfair, known for its home goods and furniture offerings, has faced several rounds of layoffs in recent years as the furniture market cooled off post-pandemic. The Boston-based company, which had approximately 14,000 employees as of early 2023, cited the need to align with its core principles and address past overhiring as reasons for the latest job cuts. In the leaked memo, Shah acknowledged the company's recent successes, including a 3.7 per cent increase in sales to $2.9 billion for the quarter ending Sept. 30, 2023. However, he emphasized the need for employees to be «more aggressive, pragmatic, frugal, agile, customer-oriented, and smart» to maintain and further the company's success.

Arun Misra, CEO, Hindustan Zinc, says “if the market cap goes up, only the government starts to gain during the disinvestment process. We also believe that divestment of shares of silver company and zinc company separately will be easier than divestment of Hindustan Zinc shares as two different sets of buyers or investors will be attracted to buying these two different kinds of company shares. So I expect a positive nod from Government of India nominee directors by the next board meeting. And then we will take some time to implement.” It has been a pretty strong set of earnings, revenue growth of 8%. Margins as well have expanded nearly 200 basis points. Let us talk about the demand scenario. On ground, both domestically as well as international, are we seeing this gradual recovery play out? Arun Misra: Demand in India has been good and there is no dearth of demand.

the World Economic Forum in the snow-clad resort came to an end on Friday, emergence of artificial intelligence, never-ending geopolitical tensions, and the outcome of what's in store when half of the world's population is going to elect a new government this year, including in India and the US, dominated the Swiss Promenade talks. But for the outcome of the summit as Rich Lesser, chairman of Boston Consulting Group, said, “It’s unrealistic to think that Davos — or any meeting, anywhere in the world — in one meeting can rebuild trust when it’s fragmented on so many dimensions".

You have to love the temerity of Elon Musk. He took to one of his companies, X, formerly known as Twitter, to lay out his requirements to the board of another, Tesla, for the new pay package he would like to receive. His last package, in 2018, was worth $55 billion and is still subject to lawsuits by ungrateful shareholders who participated in a windfall none could have anticipated, the company’s market cap rising tenfold in six years.

James Gorman, saw a 17 percent rise in his compensation for the year 2023, reaching $37 million compared to $31.5 million in 2022, as per a filing by the bank on January 19, Reuters reported. Gorman's earnings mark the highest compensation disclosed for a major United States bank chief this year. Jamie Dimon, CEO of JPMorgan Chase, received $36 million for the year 2023.

Another year, another awards show! InvestmentNews proudly presents the launch of our inaugural InvestmentNews Awards, and nominations for the top awards are now open.

Fees are how advisors make their money from clients, and while there are several ways advisors can structure fees, there’s one structure in particular that seems to be trending.  

ARK Investment Management CEO Cathie Wood believes Bitcoin (BTC) could soon be nearly as valuable as gold, according to a recent interview she conducted with Brazilian financial markets information firm, InfoMoney.

worst single-day drops in months. The crash was led by HDFC Bank, who has the most weightage in both indices. He also wrote about the bearish stance taken by foreign portfolio investors (FPIs) — a move that is certain to cause more volatility this month.

Wayfair is laying off 13% of its employees, weeks after the company’s chief executive sent a memo asking them to work harder. On Friday the online retailer said it would lay off around 1,650 employees. Wayfair, which primarily sells furniture and other home goods, has done several rounds of large layoffs in recent years as pandemic furniture buying has cooled.

By Dawn Chmielewski

Navigating the stock market demands patience, and while the emphasis is often on the long-term and buy-and-hold approach, it's essential to note that being patient doesn't equate to being a passive investor. Quite the contrary.

(Reuters) -OpenAI CEO Sam Altman plans to use the billions of dollars he is trying to raise for a chip venture for setting up a network of factories that will manufacture semiconductors, Bloomberg News reported, citing several people with knowledge of the plans.

Senco Gold & Diamonds on Friday announced that it has become the first Indian jewellery brand to join Open Network for Digital Commerce (ONDC) Network. Through this maiden integration, Senco Gold and Diamonds extensive catalogue will be available across various shopping apps within the expanding ONDC Network, facilitating smooth and efficient transactions. The move will strengthen Senco's presence across ONDC seller apps.

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Bielefeld Germany, January 19: Today, NTT DATA Business Solutions announces that it has been recognized as a global Top Employer for 2024 by Top Employers Institute. This confirms the internationally operating SAP© consulting company as one of only 17 global Top Employers that place their employees at the center of their business activities and offer an outstanding working and development environment around the world. “I am delighted that we have been honored as a global Top Employer.

The significant opportunity in the growing private credit market has prompted the launch of a new strategic financing vehicle by Citi and global alternative investment manager Luminarx Capital.

Blackstone Inc. Chief Executive Steve Schwarzman said he expects the Federal Reserve to lower interest rates and sees “animal spirits” returning to the markets as more investors make that bet too.