CEO Financial News

Fashion group SMCP, owner of French fashion labels Sandro and Maje, said on Thursday it signed a deal with Reliance to expand into India and will join other high-end European brands opening stores in the Jio World Plaza mall in Mumbai. «There aren't a lot of accessible luxury fashion labels in India so we think it's time to be pioneering,» said SMCP CEO Isabelle Guichot, citing India's wealth and growing population of younger generations among reasons for entering the country. After years of testing the Indian market with outlets in luxury hotels, high-end European labels are seeking to expand their retail presence there to tap its strong economic growth and a rapid rise in the number of local millionaires. SMCP did not disclose the financial terms of its partnership with Reliance Brands, which will become the exclusive distributor in India of Sandro and Maje. Reliance plans to open around 10 stores selling the SMCP brands in the next three to five years, said Guichot, starting with the mall in Mumbai developed by Indian tycoon Mukesh Ambani. Reliance Brands, a subsidiary of Ambani's Reliance Retail Ventures, has partnership deals with dozens of high-end European and American labels, including Bottega Veneta, Burberry, Valentino and Tiffany.

Fortis Healthcare chief executive said speciality hospital chains could lure investors on the basis of faster infrastructure creation and accessibility, and could also meet new consumer demands in the healthcare space. Bali said AHH’s business grew on the back of investments in single specialities such as oncology and neonatology. The use of technology to scale led to more neonatal intensive care beds that could address infant deaths, a problem he said AHH identified.

Online investments app Robinhood said Thursday that it's set to launch its platform in the U.K. in early 2024, marking the company's third attempt at cracking international expansion.

Alliance. "Even though we are short, we have covered much of the ground.

Zee Entertainment Enterprises (ZEEL) are facing hurdles in finalising their proposed merger due to a deadlock over leadership arrangements for the merged entity, as per a report in the Financial Express. Both parties want their respective chiefs – namely NP Singh, MD & CEO of Sony India, and Punit Goenka, MD & CEO of ZEEL, to helm the merged media company. The disagreement has stalled development even as the December 21 deadline looms.

Snowflake forecast quarterly product revenue above estimates on Wednesday, as increasing adoption of artificial intelligence boosted demand for its data cloud offerings. Shares of the Bozeman, Montana-based company surged nearly 7% in after-hours trading.

Bob Iger said on Wednesday he would «definitely» step down when his current contract ends in 2026 and that the ABC broadcast network was not for sale. In a wide-ranging interview at the New York Times Dealbook Conference, Iger also said he was «bullish» on the prospects for Shanghai Disneyland and he expected the company would expand the theme park «relatively soon.» Iger, 72, returned to Disney as CEO in November 2022, less than a year after he retired, to revamp the media company after the board ousted his hand-picked successor, Bob Chapek. Iger had planned to stay for two years but agreed to extend his stay through 2026. Disney's board is undertaking a «robust» search for a successor, Iger said, adding that he was «definitely going to step down» at the end of his current contract. After Iger spoke, Disney's board announced it had appointed Morgan Stanley CEO James P.

TikTok, Snap and Discord will testify on online child sexual exploitation at a January 31 US Senate hearing, the Senate Judiciary Committee said on Wednesday. Senator Dick Durbin, the panel's Democratic chairman and the ranking Republican Lindsey Graham said Discord and X had initially balked at participating and refused to accept a subpoena. «Now that all five companies are cooperating, we look forward to hearing from their CEOs,» they said in a statement.

Investing.com-- Microsoft will take a spot in OpenAI’s board of directors, returning CEO Sam Altman said on Thursday, as the artificial intelligence firm stabilizes after a major upheaval in its leadership earlier in November. 

By Akanksha Khushi, Sayantani Ghosh and Krystal Hu

Microsoft will take a non-voting, observer position on OpenAI's board, the ChatGPT owner's newly reinstated CEO Sam Altman said on Wednesday. Microsoft, one of the artificial intelligence startup's main backers, was not immediately available for comment.

OpenAI co-founder Sam Altman has officially returned as CEO of the AI startup after a tumultuous last week or so, which saw the 38-year-old fired and then announced he was being rehired. In addition, Greg Brockman is returning to his position as president of OpenAI, while Mira Murati, who was briefly appointed interim CEO of OpenAI following Altman's ouster, will now return to her role as the company's CTO.

ED) has alleged a slew of violations under the foreign exchange law, including failure to submit crucial documents in time as well as realise export proceeds, by Byju’s parent Think & Learn, apart from holding founder Byju Raveendran responsible. ET on November 21 reported online thatED confirmed issuing showcase notices for alleged violations of the Foreign Exchange Management Act (Fema) amounting to Rs 9,362 crore by Think & Learn and Raveendran.

Another senior executive has left the wealth management group at Wells Fargo & Co., the giant bank that has been overhauling its financial advice business since Charlie Scharf took the reins as CEO in 2019.

Kraft Heinz says it’s bringing dairy-free macaroni and cheese to the U.S. for the first time

Clearly frustrated with its languishing share price, General Motors is announcing a massive stock buyback plan, raised its dividend and told investors it can absorb increased labor costs from a six-week autoworkers strike

Warren Buffett’s Berkshire Hathaway says the billionaire Haslam family tried to bribe at least 15 executives at the Pilot truck stop chain with millions of dollars to get them to inflate the company’s profits this year because that would force Berkshir...

SAO PAULO (Reuters) — Brazilian planemaker Embraer said on Wednesday that Canada's Porter Airlines placed a firm order for an additional 25 E195-E2 aircraft for $2.1 billion.

luxury brands are looking at India, says Benedicte Epinay, CEO of Comite Colbert, the official luxury association of France that represents 93 luxury brands and behemoths such as LVMH, Chanel and Kering. «Is India the next promising market? There are obstacles such as custom duties and the bureaucracy, but it probably is, because you have all the ingredients,» Epinay told ET. «You have the consumers, you have the appetite for refinement, you have the taste to understand luxury, and you have the passion to show off.» She was here for the first Indo-French luxury symposium, or 'IFCCI Luxury Symposium', held in New Delhi on Wednesday. «Post Covid, we are back to a new normal.

Charlie Munger, the longstanding partner of Warren Buffett and a cornerstone of Berkshire Hathaway (NYSE:BRKa) (NYSE:BRKb), whose contributions helped generate wealth and prosperity for all its shareholders, has passed away at the age of 99.

DOGE-1, a Dogecoin-funded SpaceX moon mission, has received a key regulatory approval from the National Telecommunications and Information Administration.