CEO Financial News

Alexa and the company’s Fire TV streaming franchise, said the company was “shifting some of our efforts to better align with our business priorities," including focusing on building capabilities powered by generative artificial intelligence. “These shifts are leading us to discontinue some initiatives, which is resulting in several hundred roles being eliminated ChatGPT-maker Open AI said Friday it has pushed out its co-founder and CEO Sam Altman after a review found he was “not consistently candid in his communications" with the board of directors.

Dabur India CEO Mohit Malhotra in an interview with news agency PTI. Dabur recorded a significant increase in its domestic sales from South India, now accounting for 20% of its total sales, and has witnessed a doubling of its business in the region over the past 5-6 years. In response to this growth, the company is actively identifying market-specific gaps and needs, aiming to introduce customized products tailored to the preferences of these markets.

Sam Altman being fired as the CEO of OpenAI. The board of the Silicon Valley-based maker of AI chatbot ChatGPT suddenly ousted Altman — one of the most influential tech entrepreneurs of our times — stating “he was not consistently transparent in his communications, hindering the board's ability to fulfill its responsibilities”.

Astrotalk CEO Puneet Gupta has stirred a mix of curiosity and amusement on social media by announcing a whopping reward of Rs 100 crore for its users if India emerges victorious in the World Cup final against Australia. Gupta took to LinkedIn to declare that the bounty would be 'equally divided' among the users and deposited into their app wallets. “So, this morning I spoke to my finance team and pledged to distribute.

FMCG and ayurvedic products maker Dabur is planning to set up a new factory in South India in less than a year's time, as its business scales in the region, according to company's CEO Mohit Malhotra. Dabur, which now gets 20 per cent of its domestic sales from South India with its business there doubling in the last 5-6 years, is identifying gaps and usages to launch products customised to the markets, he told PTI in an interview.

Forget Melbourne’s EastLink, Transurban’s got another toll road across the Pacific Ocean it may look to add to its $40 billion empire.

Downer EDI is expected to receive a protest vote against its remuneration report at its annual general meeting this week after proxy groups questioned how the board would handle outstanding share rights awarded to former chief executive Grant Fenn.

Hinduja Group flagship firm Ashok Leyland is keen to get external investments for its electric vehicle arm Switch Mobility but only from 'the right strategic partner', and it will not shy away from investing on its own till such an ally is found, according to its Managing Director and CEO Shenu Agarwal. While Switch India is likely to be cash neutral or cash positive going forward, on an operating level at least, for Switch UK some more investments may be required in FY25, with the European and UK markets still not going that strong, he told analysts. «We are very keen on getting external investments also, but we want to make sure that we have the right strategic partner with us. I mean, we do it at the right valuation. So right now, the focus is to get Switch into a very, very strong mode by developing products, by maturing our technology on both the bus side and the LCV side,» Agarwal said. He was responding to a query on whether the current tough funding environment could delay roping in an external partner for Switch Mobility, which houses the electric vehicles (EV) business of Ashok Leyland.

OpenAI employee shares that would value the startup at about $86 billion on paper hangs in the balance after the sudden firing of CEO Sam Altman and a slew of top executive departures, the Information reported on Saturday. The tender offer, which Thrive Capital is leading, has not yet closed but has been in its final stages and was expected to be completed as soon as next month, the report added, citing a person familiar with the matter.

OpenAI who got fired by the company’s board in a surprise move, is in talks with the board members for a possible return to the artificial intelligence startup, according to a report by Reuters. Khosla Ventures’, an early backer of OpenAI, Vinod Khosla said, on November 18, in a X post, “To be clear, Khosla Ventures wants@sama (Sam Altman) back at@OpenAI (OpenAI) but will back him in whatever he does next." The day following his unexpected dismissal, Altman engaged in discussions with OpenAI executives regarding enhancements to the company's governance structure.

Andrew Holland, CEO, Avendus Capital Alternate Strategies, says “we have been dipping our toes in the power financier space. I think everyone is shifting a little bit away towards this type of financing companies and just away from NBFCs in the short term. There is a lot more to go because it is the renewables sector and it is something important to governments globally and it is going to see a lot of investment. So, the likes of REC will continue to do well and gain market share.” Would you be a buyer of some of these stocks which took it on the chin on Friday – L&T, RBL, some other PSU banks as well? You know it has been interesting. We have kind of been scratching our heads over the past few months about the whole financial sector and particularly the banks with their stellar results. Yes, not great commentary about NIMs, but there was something that was just holding the sector back. And maybe now with what the RBI has done, we know what the concerns were. To my mind, it is kind of fairly well priced, given the underperformance.

Lower prices and ample stockpiles have helped make India one of the top shippers globally over the past decade, recently accounting for almost 40% of the total. African nations like Benin and Senegal are among the top buyers. But Prime Minister Narendra Modi, who will seek reelection next year, has repeatedly tightened restrictions on shipments in a bid to curb domestic price rises and shield Indian consumers.

Sam Altman led OpenAI to the adult table of the technology industry. Thanks to its hugely popular ChatGPT chatbot, the San Francisco startup was at the center of an artificial intelligence boom, and Altman, OpenAI's CEO, had become one of the most recognizable people in tech. But that success raised tensions inside the company. Ilya Sutskever, a respected AI researcher who co-founded OpenAI with Altman and nine other people, was increasingly worried that OpenAI's technology could be dangerous and that Altman was not paying enough attention to that risk, according to three people familiar with his thinking. Sutskever, a member of the company's board of directors, also objected to what he saw as his diminished role in the company, according to two of the people.

Sam Altman and Greg Brockman, two top executives at OpenAI who left the company after a dramatic board meeting Friday, are talking again with board members about returning to the artificial intelligence startup, two people with knowledge of the matter said. The discussions follow an outcry after Altman, 38, was ousted from his role as OpenAI's CEO a day earlier. Since then, OpenAI's investors and Altman's supporters have pressured the four board members of the startup to bring Altman back, six people with knowledge of the matter said.

deal with General Motors will raise pay across the industry, force automakers to absorb higher costs, and help reshape the auto business as it shifts away from gasoline-fueled vehicles. Workers at Stellantis, the maker of Jeep, Dodge, and Ram vehicles, voted 68.8% in favor of the deal. Their approval brought to a close a contentious labor dispute that included name-calling and a series of punishing strikes that imposed high costs on the companies and led to significant gains in pay and benefits for UAW workers.

decision to dismiss Sam Altman as CEO and remove him as a director, sources told Bloomberg. The investors and Altman were both blindsided by the removal, the report added. Some investors, including Thrive Global, are also reportedly engaging in discussions with OpenAI’s largest shareholder Microsoft Corporation, as per sources the report added.

AMP Bank has become the first bank to increase interest rates for existing customers by more than the Reserve Bank of Australia’s latest cash rate rise, as it tries to turn around shrinking profit margins on home loans.

But then, Covid struck. As governments around the world enforced lockdowns, football scholarship plans suffered. But even when lockdowns started easing and athletes resumed hitting the turf, things couldn’t be back to the way they once were.

Ahmedabad and airfares to the city have surged manifold ahead of Sunday's World Cup cricket final between India and Australia, forcing many fans to either cough up the staggering rates or alter their travel plans. The chief executive of a Mumbai-based company, for instance, said he has decided to drive more than 500 km to Ahmedabad for the match. «It's crazy out there,» said the CEO, who did not wish to be identified.

Berkshire Hathaway CEO Warren Buffett, the legendary investor known as the Oracle of Omaha, sang the praises of Wells Fargo in an interview with Fortune. The bank, Buffett said, “has come closer” to an effective business model “than any other big bank by some margin.” He detailed the ways in which Wells Fargo was more valuable than it seemed and compared its chair to Walmart founder Sam Walton. The interview was published on April 20, 2009.

Also Read: Excitement and worry as stock options trading booms in India Beyond 2019, interest in stock options saw a significant surge touching 100 per cent average interest over time in peak levels in 2023, then dropping to 75 per cent till date. Interest in multibagger stocks remains at 25 per cent, as per google trends. Options are a form of derivative contract that gives buyers of the contracts (the option holders) the right (but not the obligation) to buy or sell a security at a chosen price at some point in the future.