CEO Financial News

Independent Advisor Alliance has a fresh injection of capital as LPL Financial has taken a minority stake in the hybrid firm.

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Given the delayed winter, many retailers have now started discounting early to attract shoppers. Retail sales in October and November 2023 showed a growth of 7% compared to the sales levels during the same period in 2022, according to the survey by the Retailers Association of India (RAI). «The last two-three months have seen muted growth despite being the festive season and the way things are going, we don't expect any major uptick in demand for the next two quarters.

Christmas and year-end season? Pretty much everywhere! Going by most accounts, the October to December quarter this year is likely to be a bumper quarter for the travel and hospitality sector with most companies claiming to have an even better momentum than in 2019. «There is a lot of talk about high airfares but the important thing to note is that people are travelling,» said Rajesh Magow, cofounder and group CEO of MakeMyTrip. «Typically, international travel bookings, even for short-haul travel, are made a couple of weeks or more in advance. However, with markets such as Thailand and others making the entry process a lot easier, we are seeing advance purchase windows for these destinations becoming shorter, in many cases, stretching to a couple of days,» he said. As per MakeMyTrip data, the top destinations for the last week of December in the domestic sector include Goa, Rajasthan, Varanasi, Kerala, Rishikesh and Kashmir. In terms of international flight bookings, popular destinations such as the UAE, Thailand, Singapore, and Indonesia continue to be favourites.

Gujarat Gujarat International Finance Tec-City (GIFT City) by the state government has drawn sharp criticism from opposition Congress. Congress President Shaktisinh Gohil in a late night video message called this an attempt to relax prohibition in Gujarat through the backdoor. It may be mentioned here that one Friday, Gujarat Government declared that the employees of the GIFT City as well as authorised visitors to the companies within GIFT City will be lawed to consume alcohol in designated areas in a bid to facilitate “wine and dine” services offered by the restaurants. However the restaurants will not be allowed to sell liquor bottles, the government added. Gohil said that Gujarat has retained good law and order due to prohibition and it is because of prohibition that women can move on the streets late in the night.

why one is doing much better than the other. This is not a story of a startup, but a well-established and highly regulated insurance company that started rejecting claims of its customers on flimsy grounds. Star Health is a top health insurance provider in India.

NEW DELHI: India’s government-backed quasi-sovereign wealth fund for infrastructure investments is now ready to welcome its new honcho. Sanjiv Aggarwal, who oversees global private equity firm Actis’s energy investments in Asia, is set to take over as the chief executive of National Investment & Infrastructure Fund (NIIF), two people aware of the matter said on condition of anonymity. “Sanjiv has been selected to head NIIF.

₹5,500 crore through an initial public offering (IPO). This will be the first IPO by a two-wheeler maker in India since the debut of Bajaj Auto in 2008.

Ola Electric IPO: SoftBank Group-backed e-scooter maker Ola Electric filed its preliminary draft papers on Friday, December 22, with capital markets regulator Securities and Exchange Board of India (SEBI) to raise ₹5,500 crore through an initial public offering (IPO). This will be the first IPO by an Indian electric vehicle (EV) maker and also the first by a two-wheeler maker in India since the debut of Bajaj Auto in 2008.

QI Research CEO and chief strategist Danielle DiMartino Booth and UBS Private Wealth Management managing director Alli McCartney discuss the Fed's inflation plan for 2024 on 'Making Money.'

Investing.com — The main indices point toward a weaker open on Wall Street, amid a degree of caution ahead of the release of key U.S. inflation numbers. A weak outlook from sporting retail giant Nike also weighed, although a continuation of the year-end rally with weekly gains still looked likely. The news in the U.K. was less impressive, as its economy retreated in the third quarter, opening up the possibility of a recession to end the year.

Layoffs in 2023: As 2023 is coming to a close, there has been a significant shift in the Indian tech industry, leading to layoffs throughout. Let us take a look at the tech companies that have laid off their employees and the reasons for the downsizing. In 2023, over 15,000 employees faced layoffs across approximately 100 Indian startups, echoing the challenges of a prolonged funding winter, according to a Mint report.

BSE release on Friday. “The NCLT has directed, inter alia, that a meeting of the Equity Shareholders of the Transferee Company (Tata Steel Limited) be convened and held on Thursday, January 25, 2024 through video-conferencing or other audio-visual means (‘VC/OAVM’) (‘Meeting’) to consider and if thought fit, with or without modification(s), approve the Scheme," the company said in its stock exchange filing on Friday. The meeting will be conducted through video conferencing or other audio-visual medium, as per the directions of the National Company Law Tribunal, at 11 am on January 25.

Rise of Somali Pirates: Soon after MV Ruen, a Malta-flagged merchant ship, was hijacked by pirates earlier this month in the Arabian Sea, there were concerns about the return of Somali pirates to international sea routes. Amid rising fears, Indian shipping regulator Director General of Shipping has advised seafarers to be cautious, according to a report by Business Standard. But the precautionary measures may not be easy on the pocket, say experts The alternative route adds 12-14 days of sailing time and a 30-40 per cent increase in freight costs, impacting prices.

Taylor Morrison CEO Sheryl Palmer discusses the headwinds facing the housing market after a drop in August on existing home sales on 'The Claman Countdown.'

Flexible office operator Awfis Space Solutions Limited has filed Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), aiming to raise Rs 160 crores through its Initial Public Offering (IPO). The company intends to allocate the net proceeds from the offering towards capital expenditure for establishing new centers, funding working capital requirements, and addressing general corporate needs, as outlined in the DRHP. “Notably, this IPO marks a milestone as the first by any indigenous flexible office operator in India. Despite its small size, Awfis stands out due to its asset-light managed space model and a distinctive managed aggregation supply approach for landlords, resulting in the largest number of centers across the country,” mentioned DRHP. The proposed IPO entails an offer for the sale of up to 10,023,172 equity shares, with Peak XV Partners Investments V, Bisque Limited, and Link Investment Trust planning to offload stakes.

₹3,400 crores in the Axis India Manufacturing Fund. This thematic fund was introduced to deliver long-term capital appreciation through investments in equity and equity-related securities of companies aligned with the manufacturing theme. From December 01 to December 15, 2023, this new fund offer (NFO) witnessed strong engagement from various investor segments across more than 500 locations in India, accumulating nearly 1,50,000 applications.

Mint, Zomato Live CEO Zeenah Vilcassim outlined the company's growth trajectory and its aim to make a substantial double-digit contribution to Zomato's topline within three years. Currently, Zomato Live contributes a single-digit percentage to Zomato's overall revenue. "If you look at the scale and the size of the business that we have with online ordering right now and BlinkIt, even a low double-digit is still huge as a business.

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Essar Oil UK has signed on Denmark-based Topsoe as a technology licensor for its carbon capture facility, based in Stanlow, North West England. Topsoe, a global provider of carbon emission reduction solutions, will provide its sustainable flue-gas treatment technology SNOX, the company said in a statement. The SNOX technology helps refineries and power plants remove sulfur dioxide, nitrogen oxides, and particulates from flue gases. This will help Essar Oil UK’s $1.2 billion investment in decarbonizing the refinery by reducing 2 million tons of CO2 (95%) emissions, making it the world’s first low-carbon refinery and a producer of low-carbon fuels. “The industrial carbon capture facility, combined with our upcoming hydrogen fuel switching project, will reduce the refinery’s CO2 emissions by 95%. Topsoe is a valuable partner in this endeavor.

In collaboration with Emeritus, the programme has been designed to help participants gain advanced managerial skills, cross-functional acumen, creative problem-solving ability, and an innovation mindset in this high-impact one-year learning journey The Indian Institute of Management Kozhikode (IIM Kozhikode) has launched the 14th batch of the Senior Management Programme. According to a recent report from Forbes (2022), executive presence skills came in second among the top 20 leadership traits and accounted for 26% of what it takes to get promoted to leadership positions.