CEO Financial News

NEW DELHI : New Delhi: In the sweltering heat of July, Prabhjeet Singh, a man normally used to spending his days in a plush office, was struggling to navigate the byzantine lanes of Shiv Durga Vihar, Faridabad. The president of Uber India and South Asia wanted to experience the business end of things and had turned taxi driver for the day. Singh, now in his ninth year at Uber, goes on such fact-finding trips every month to get to grips with the ground realities his driver-partners face and the expectations their passengers have.

(Reuters) -General Motors is to scale back spending on its self-driving unit Cruise after a pedestrian accident last month, Financial Times reported on Tuesday.

State Street Global Advisors announced that it has hired Invesco’s global head of ETFs to be its new chief business officer.

NAHB CEO Jim Tobin discusses the state of the housing market, American homeownership, and using family money for home down payment.

allegations of assault levelled against Raymond Ltd managing director Gautam Singhania by his estranged wife, an Indian proxy advisory firm has requested the company's independent directors to conduct a probe, a report said on November 28. The appeal has been made by Institutional Investor Advisory Services (IIAS), news agency Reuters reported, adding that the proxy firm has urged the independent directors to communicate with investors and other stakeholders, assuage their concerns and "articulate a course of action they have taken following these public allegations".

Standard Chartered Plc is in the early stages of a search for its next chair as the emerging markets-focused bank prepares for the departure of Jose Vinals, who’s entering his eighth year in the role. The London-based lender is working with outside recruiters on a global search to identify candidates to find a replacement for Vinals, according to people familiar with the matter, who asked not to be identified discussing private information.

Noida Airport is progressing rapidly to meet the deadline of becoming operational in about a year. According to Noida International Airport (NIA) CEO Christoph Schnellmann, the final floor level of the passenger terminal has been completed and façade work has commenced, a TOI report stated.

Weddings are a lavish affair in India- be it a local or a destination wedding, The list of expenses is unending. Well, some are able to conveniently pay for the extravaganza on their own, while others have to opt for a wedding loan to make their D-Day special and memorable. Experts believe that the wedding industry is so expensive that normal people can't afford it. Hence, the demand for wedding loans has increased.

A number of crypto advocates have emphasized the significance of Bitcoin (BTC) mining as a “critical tool” for clean energy usage and grid balancing. 

BharatPe on Tuesday announced that it has turned Ebitda positive in October with annualised revenue crossing Rs 1,500 crore. Without giving out the actual number, BharatPe in a statement said the financial milestone was attributed to consistent growth across all business lines. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) is a measure of core corporate profitability.

bonds. “In FY '22-23, private placements garnered an impressive ₹7.5 lakh crore (USD 94 billion), and in the current fiscal year, FY’23-24, we have already witnessed a substantial raise of ₹4.15 lakh crore (USD 52 billion) by October. It's to be noted that this strong momentum includes obtaining money through private placements," said Abhijit Roy, CEO, of GoldenPi.

cryptocurrency market cap declined 1.7% to around $1.4 trillion in the last 24 hours. At 11.23 a.m., BTC was trading 1.08% lower at $36,933, while the second most popular token, Ethereum, was down 2.38% at $2,000. Other popular altcoins, such as Tron, Chainlink, and Avalanche, plunged over 5% each. Also, BNB, XRP, Solana, Cardano, Dogecoin, Polygon and Shiba Inu fell 2-4%. The total volume in DeFi is currently $5.12 billion, 10.06% of the total crypto market 24-hour volume. The volume of all stablecoins is now $47.55 billion, which is 93.42% of the total crypto market 24-hour volume.

Broadcom Chief Executive Hock Tan shelled out $40,000 to sit at Xi Jinping’s table for the Chinese leader’s recent dinner in San Francisco with the heads of American businesses. Tan had a lot more at stake—a $69 billion deal he was waiting on China to approve. For months, Chinese regulators wouldn’t clear the U.S.

TCS paid ₹30 crore salary to former CEO Rajesh Gopinathan in FY23 Recently, Gopinathan stepped down as chief executive officer after he got an extension for a 5-year term from 2022-2027. He was replaced by K Krithivasan who has over three three-decade of experience with the company. TCS CEO overhauls business structure TCS paid approximately ₹30 crore to Gopinathan in the financial year 2023.

retail investor can look at in the next six months, i.e. till next summer.

SM REITs, with an asset value of at least ₹50 crore vis-a-vis minimum asset value of ₹500 crore for existing REITs.The decision was approved at the meeting of the board of the Securities and Exchange Board of India (Sebi) in Mumbai. Industry experts welcomed the Sebi decision to regulate fractional ownership real estate market.

BSE rose 5 percent in intra-day deals on Tuesday, extending gains for 3rd session after global brokerage Jefferies initiated coverage on the stock with bullish outlook. Jefferies has initiated a 'buy' recommendation for BSE, setting a price target of ₹2,700, indicating an upside potential of 24 percent. The stock's lower forward P/E ratio compared to other market players suggests a potentially attractive investment opportunity, said the brokerage.

ET MSME Awards 2023, which is in its fourth edition, will felicitate 26 outstanding MSMEs (micro, small and medium enterprises) of India on December 8. Small businesses will be recognised for their achievements under five broad categories: Overall Industry Awards, Awards by MSME Category, MSME Enabler Awards, Special Category Awards and Industry Focused Awards. The 26 categories fall under these five main categories. The programme is open to any Indian micro, small and medium scale enterprise, as defined by the Ministry of MSME.

Air India completes two years under the Tata group’s ownership, its CEO Campbell Wilson has found that his job is mostly a balance between fighting the airline’s existing legacy issues and exploiting its tremendous future potential. In a recent interview, Wilson spoke to ET about the progress Air India is making in its long, arduous journey to regaining its long-lost status as a globally relevant airline. Edited excerpts: Q1) Let’s start with Air India’s transformation project. The first phase was taxi, which was focussed on legacy issues. The airline is six months into the next phase which is called takeoff, which is focused on developing the platforms, processes and systems needed to build a product of exellence. Where is Air India at right now and how do the next 100 days look like? Ans: We have a five-year roadmap called Vihaan, which has three phases.

Tata Motors and Mercedes-Benz India are also mulling increasing the prices of their models from January 2024. Maruti Suzuki India had last hiked the vehicle prices by 0.8% in April this year. In the last fiscal, it had effected a total price hike of 2.4%.

Congress has submitted a memorandum to the Madhya Pradesh chief electoral officer seeking action against the Balaghat collector for allegedly taking postal ballots out of the strong room and indulging in malpractice. Chief Electoral Officer (CEO) Anupam Rajan on Monday denied the allegations and said local Congress leaders have expressed satisfaction at the procedure.