CEO Financial News

London-based crypto trading and custody firm Copper announced plans to launch a new brokerage platform for digital assets in Abu Dhabi as soon as early next year, the company announced on Wednesday. 

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chief economic advisor, V Anantha Nageswaran, also pointing to the need for cities to provide clean air and open spaces. “Our cities have become health traps. We need to ensure that citizens and children are facilitated to undertake physical activity,” CEA Nageswaran said, speaking at a panel discussion at Leveraging Private Finance for Urban Infrastructure Development –Learnings from G20 Infrastructure Working Group (IWG) event in Delhi on Wednesday. The chief economic advisor also stressed the issue of land use conversion, also raised by the chairman of the Economic Advisory Council to the Prime Minister. “The issue of land-use conversion has been plaguing us,” the CEA said, highlighting a need for simpler processes similar to what some states have instituted under business facilitation legislation.

Stability AI, the British artificial intelligence startup behind the Stable Diffusion image generator, has explored selling the company as management faces increased pressure from investors over its financial position. The London-based firm has presented itself as an acquisition target in recent weeks, and held early-stage conversations with multiple companies, according to several people familiar with the matter, who asked not to be identified because the discussions were private. A deal is not imminent and the company could cut the process short without selling, they said.

Berkshire Hathaway's Charlie Munger heralds the end of an era, leaving Warren Buffett as the conglomerate's lone investing legend and shining the spotlight on managers who have largely operated in their shadow. Few companies have been so closely associated with their leaders as Berkshire has with Buffett and Munger, who knew each other for more than six decades, the last 45 years as the Omaha, Nebraska-based conglomerate's chairman and vice chairman. Munger's death on Tuesday, five weeks shy of his 100th birthday, leaves Berkshire Vice Chairmen Greg Abel and Ajit Jain, who respectively oversee its non-insurance and insurance businesses, as the 93-year-old Buffett's top advisers and sounding boards. They became vice chairmen in 2018, started taking a more prominent public role only at the most recent of Berkshire's annual meetings, and will have bigger boots to fill than at almost any other company. Managers have said Abel fully embraces Berkshire's culture, which includes an extreme decentralization that gives business units broad autonomy. That means big units such as the BNSF railroad and Geico car insurer, each with tens of thousands of employees, and small units such as Borsheims jewelry, with about 142 employees, can run without interference from Berkshire headquarters, which employs only about 26 people. But Abel and Jain have different styles from Buffett and Munger. At the 2021 annual meeting, Jain was asked how he and Abel interact with each other. «There is no question that the relationship Warren has with Charlie is unique and it's not going to be duplicated,» Jain said. «We don't interact with each other as often as Warren and Charlie do.

Justin Trudeau has told his closest advisers he would not be true to himself if he quit as Liberal leader and prime minister; that he’s looking forward to fighting an election against Conservative Leader Pierre Poilievre; and that he believes that with two years until the next election — assuming the Liberal-NDP supply-and-confidence agreement holds — he and his party have enough runway to turn around poll numbers and win a fourth consecutive general election, a feat accomplished only by John A. Macdonald and Wilfrid Laurier.But neither Macdonald nor Laurier ever faced an electorate that was so down on the prime minister the way it is on Trudeau.New polling by Ipsos, provided exclusively to Global News, shows that nearly three in four Canadians believe Trudeau should step down now.

T. Rowe Price will have a new head of global investments from Jan. 1, as Eric Veiel takes up the role previously held by president and CEO Rob Sharps.

The new equity will further Fnality's goal of establishing a global liquidity management ecosystem for new digital payment models in both wholesale financial markets and emerging tokenised asset markets. The lead investors were joined in the round by DTCC, Euroclear, Nomura and WisdomTree.

Foot Locker on Wednesday announced the signing of a long-term licensing agreement with Metro Brands Limited (MBL) and Nykaa Fashion. “This partnership will offer the most comprehensive selection of global sportswear and footwear to sneaker fans in India,” said the New York-based speciality athletic retailer in a statement. According to a report, the volume of the sneaker segment in India is projected to reach 66 million pairs by 2028. The sneaker segment is experiencing rapid growth in the country, with consumers seeking out unique designs that blend traditional Indian elements with modern trends. Under the terms of the agreements, MBL is granted exclusive rights to own and operate Foot Locker stores within India and to sell authorized merchandise in Foot Locker stores.

General Motors (NYSE:GM) has reinstated its 2023 earnings guidance today as it continues to expect net income in the range of $9.1 billion to $9.7 billion.

By David Shepardson

Splunk (NASDAQ:SPLK) reported its Q3 results, with EPS of $0.55 coming in worse than the consensus estimate of $1.15. Meanwhile, revenues grew 14.8% year-over-year to $1.07 billion, beating the consensus estimate of $1.03B.

Cristiano Ronaldo is facing a class-action lawsuit. According to the reports the plaintiffs, Michael Sizemore, Mikey Vongdara, and Gordon Lewis and claimed that they suffered losses because Cristiano Ronaldo promoted the exchange.

More Americans went shopping than ever before over Thanksgiving weekend, a good sign for retailers. But experts say the economy isn't thriving yet.

Charlie Munger may come across as a sidekick to the legendary Warren Buffett who built Berkshire Hathaway's enormous empire worth $785 billion simply by buying and holding stocks for the long term. But in reality, Munger was picked by the 'God of Stocks' as his second-in-command for being smarter and wiser than him. The 64-year-old partnership between the dynamic duo shows many unusual traits — the two titans never had an argument and would sometimes make decisions without consulting each other. The mutual trust and respect never faded between the 'Jai and Veeru' of Wall Street. While Munger, who passed away today at the age of 99, lived in Los Angeles, his best friend and partner-in-crime Buffett lived 1,600 miles away in Omaha. «The two men speak a few times every month on the phone, and they likely meet less than 3 to 4 times a year,» NRI investor Mohnish Pabrai wrote in his book 'The Dhandho Investor'.

Embattled Thai crypto exchange Zipmex is offering its creditor 3.35 cents per dollar of initial claims with further payouts in a recovery scenario. The proposal came as a part of the restructuring offer from a company that owes its customers $97 million. 

Ervin Tu, interim CEO of Prosus, the Dutch-listed technology investment firm, and its parent Naspers, said he is hopeful of a public listing for PayU India by the second half of next year. “We are working very hard to prepare the business (PayU India) to be in a listable form and aim to have it (ready) by the second half of next year,” Tu said.

MUMBAI (Reuters) — Prosus (OTC:PROSF) NV, an investor in once-hot Indian education firm Byju's said on Wednesday it is valuing the firm at under $3 billion, 86% less than its peak valuation of $22 billion last year, as the company has struggled with governance and cash flow problems.

Magic 6 Pro or Magic 6 Ultimate, is anticipated to revolutionize the user experience with its cutting-edge features. As per a Notebookcheck report, Honor CEO Zhao Ming has confirmed certain features of the Magic 6 Pro in a conversation with MyDrivers. Reportedly, one of the standout innovations he verified is the incorporation of satellite communication capabilities.

debt market too out there. And various kinds of debt. Perhaps we will revisit that later.

Ervin Tu, interim CEO of technology investor Prosus, said the company has marked down Byju’s valuation further, below $3 billion. Tu, who took over the reins from Bob van Dijk in September, commented on the edtech’s valuation in an earnings call, after disclosing Prosus’s half-yearly results up to September. “We are not disclosing the (exact) valuation, but it is sub-$3 billion,” said Tu. In March, Prosus had valued Byju’s at about $5.1 billion. It holds a stake of nearly 10% in the troubled edtech firm.