CEO Financial News

The venture capital arms of General Motors and Stellantis are among investors sinking $33 million into a Minnesota company with technology to make magnets for electric vehicle motors without using expensive rare-earth metals

The CEO of MGM Resorts International said in an earnings call that he believed contract negotiations underway Wednesday would lead to a tentative agreement with the Culinary Workers Union

Close to 400 people connected to fossil fuel industries in some way or another attended last year’s United Nations climate talks in Egypt

Genpact on Wednesday announced that Balkrishan (BK) Kalra would become the next chief executive officer of the company, effective February 9. The New York-headquartered company said that the current CEO NV (Tiger) Tyagarajan, who is also the president, would retire after over 12 years at the helm.

IPG Mediabrands, the media and marketing arm of the $11 billion American advertising firm Interpublic Group, sees India as the top priority market considering the transformational work happening here for both local and overseas clients, said its global CEO Eileen Kiernan. “The kind of transformation that we’re trying to drive out of India right now, it is our number one priority. India is now our number two talent business in the world, behind the United States,” she told ET. She said the company’s India unit has built a brilliant combination of scale and growth, along with a quality digital and tech talent base. “When we think about our future, we know we can rely on India for ongoing growth, but we see India as an incredibly strategic part of our vision for how we move forward,” said Kiernan. IPG Mediabrands is building a centre of excellence in Pune which will be the hub for serving advertising clients from around the world and will comprise 3,000 professionals in the next three years.

Nazara Technologies jumped nearly 4% to the day's high of Rs 864.60 on the NSE on Wednesday after the company reported a 53% jump in its consolidated profit after tax (PAT) to Rs 24.2 crore for the September quarter as against Rs 15.8 crore in Q2FY23. The revenue grew by 13% to Rs 297.2 crore versus Rs 263.8 crore in Q2FY23. With today's gains, the stock has maintained its three sessions trading streak and gained nearly 10% during the rally. The diversified gaming and sports media platform announced its July-September quarter earnings on Wednesday after market hours.

Pratik Gupta, CEO & Co-Head, Kotak Institutional Equities, says what the market is liking is the fact that new age tech companies are turning profitable or staying profitable in some cases and the profit margins, EBITDA margins, contribution margins are improving. So that's actually a positive. We think structurally over the next three to five years, this is a good theme. In a couple of cases, unfortunately, these stocks have gone up very sharply. So there could be a near-term pause, but by and large, we are quite constructive on most of the new age companies, the listed ones.” The best could be behind at least for the near term in spaces like defence and railways, which did get pretty frothy about two months back. Yes, I would agree. I think you have got to be a bit careful in those spaces. The stocks have had a very nice run up. They are extrapolating whatever has happened in the last one or two quarters. And that I think is a bit dangerous.

₹84.55 crore, according to NSE data. DIIs bought equities resulting in an inflow of ₹524.47 crore, the exchange data showed.The price for a barrel of U.S.

Steve Wozniak was hospitalized in Mexico City on Wednesday due to a possible stroke, Mexican media outlets reported. The 73-year-old scientist and tech entrepreneur was scheduled to participate in a World Business Forum event in the Mexican capital's Santa Fe neighborhood.

Onafriq is using Ripple’s crypto-enabled payments technology to open up three new payments corridors between Africa and the rest of the world.Customers of PayAngel in the UK, Pyypl in the Gulf Cooperation Council, and Zazi Transfer in Australia can use the technology for remittance and business payments to recipients in 27 countries across Onafriq’s pan-African network.The firms say that their partnership will bring faster, more efficient, and cost-effective international money transfers to Africa, accelerating financial inclusion across the continent.Dare Okoudjou, CEO, Onafriq, says: “Our mission is to make borders matter less when it comes to payment within, to, and from Africa.

TheInvestmentNews Women Advisor Summit in New York Wednesday began not only with a bang, but with a rejection of the unfair questions so often asked of female business owners.

₹1,500 crore for acquisitions in the near-to-medium term to grow the company’s India and contract development businesses, chief executive officer Nikhil Chopra said in an interview. “India is contributing around 53% to the overall company, and 12% is contributed by the CDMO (contract development and manufacturing organization), which combined is 65%, and we want to take it up to 80% by FY27. Chronic segment, which contributes about 55% of the Indian business, is our major area of focus for acquisitions as we intend to take that contribution to 60%," Chopra added.

Tata Power on Wednesday reported an 8.79% growth in its consolidated net profit for the July-September quarter on a year-on-year (y-o-y) basis at ₹1,017.41 crore. During the same period last fiscal, the company had reported a net profit of ₹935.18 crore. Its revenue for the period under review, also rose 9% to ₹15,442 crore.

Pimlico, a UK-based Web3 company, has successfully closed a seed investment round worth $4.2 million, led by the major venture firm Andreessen Horowitz’s crypto arm a16z Crypto.

The US premier enforcement agency, Commodity Futures Trading Commission (CFTC), has announced the release of its record-setting enforcement results for the fiscal year (FY) of 2023.

Tata Power) total installed power capacity will be green by FY26, said CEO and MD Praveer Sinha on Wednesday, adding that the company does not plan to add any new thermal power capacity. «Currently, our clean energy portfolio is 5,500 MW. We have another 3,700 MW of renewable projects under implementation.

Bata India Ltd has reported net profit of Rs 33.99 crore during Q2 FY24, a 38% decline from the same quarter last year when the company had reported a net profit of Rs 54.82 crore. The net profit was also significantly down from the April-June quarter when the company had reported Rs 106.89 crore profit. Revenue from operations was also down to Rs 819.11 crore during July-September from Rs 829.76 crore in the same quarter last year.

BENGALURU : India's Patanjali Foods on Friday reported a second-quarter profit that more than doubled as a slump in expenses outpaced falling revenue, dragged by lower edible oil prices. The Ruchi Gold oil maker's profit rose to ₹255 crore ($30.63 million) in the quarter ended Sept. 30, from ₹112 crore a year earlier.

Rashmika Mandanna went viral on social media and netizens reacted with a mixture of shock, surprise and horror when they realized that it wasn't the popular actress but a British Indian influencer named Zara Patel. Also Read| 'Extremely scary': Rashmika Mandanna flags 'identity theft' issue as deepfake video goes viral The actress quickly went on social media to share her despair and shock over the viral video. In her comments on X, Mandanna wrote, "I feel really hurt to share this and have to talk about the deepfake video of me being spread online." "Something like this is honestly, extremely scary not only for me, but also for each one of us who today is vulnerable to so much harm because of how technology is being misused." the actress added.

United Spirits Ltd on Wednesday reported a consolidated net profit of Rs 339.3 crore in the second quarter ended September 2023. The company had posted a net profit of Rs 547.7 crore in the July-September quarter a year ago, United Spirits Ltd (USL) said in a regulatory filing. Its revenue from operations was Rs 6,736.5 crore during the quarter under review.

Hightower has announced a strategic investment in a $2.5 billion fee-only RIA firm, its eleventh acquisition of 2023 so far.