CEO Financial News

As the grocery code of conduct nears completion, the Canadian industry’s biggest player is raising concerns the guidelines could add fuel to the food inflation fire.

Apple iMessage as a ‘core’ platform service under the new Digital Markets Act (DMA), reported Financial Times. Also Read| Apple releases iOS 17.1.1 and watchOS 10.1.1: Fixes bugs and resolves battery drainage issue In a letter to EU Internal Market Commissioner Thierry Breton, signed by an unnamed Google vice-president and the CEOs of the five telecoms companies, they argue that consumers would be better off with the 'core' services designation because 'encriched messaging' is currently only available between Apple users.

₹366 crore. The acquired units, encompassing more than 20 major brands, reported a turnover of ₹90 crore in fiscal year 2023, with a current revenue run-rate of ₹100 crore. The deal, which includes the transfer of working capital, will see over 120 personnel, including senior leaders and field staff, transition to Eris Lifesciences.

Moneycontrol report said, citing one of the sources. Four other i-bank – Bofa Securities, Jefferies, ICICI Securities and Avendus Capital – are also expected to be signed as potential advisors for the much-awaited issue, another person aware of the matter told the publication. Livemint could not independently verify the development.

Speaking at the occasion, the Minister for Youth Empowerment, Sports, and Tribal Welfare B. Nagendra emphasized the importance of research as the cornerstone of addressing various societal challenges. The government of Karnataka is placing significant emphasis on research and development with the establishment of the Karnataka Research Foundation, and it welcomes investments from companies like Vizzhy Inc in the R&D sector with full government support.

Tata Power Q2 Results: Tata Power announced its July-September quarter results for fiscal 2023-24 (Q2FY24) on Wednesday, November 8, reporting a rise of 8.8 per cent in net profit of ₹1,017 crore, compared to ₹935 crore in the corresponding period last year. "We have reported yet another strong quarter of financial performance, driven by robust contributions from all our core business clusters.

QI Research CEO Danielle DiMartino Booth and UBS Private Wealth Management managing director Alli McCartney react to the Federal Reserve’s decision to pause rate hikes in November.

On the same day whistleblower Frances Haugen was testifying before Congress about the harms of Facebook and Instagram to children in the fall of 2021, Arturo Béjar, then a contractor at the social media giant, sent an email to Meta CEO Mark Zuckerberg ...

Eris Lifesciences on Wednesday said it has entered into a definitive agreement to acquire Biocon Biologics' dermatology and nephrology branded formulations business units in India for Rs 366 crore. Eris said the acquisition will be funded partly through debt financing. The deal is inclusive of working capital and the key leadership and entire field force of this business, consisting of over 120 personnel of Biocon Biologics' nephro and derma units are expected to move to Eris post deal. The transaction is expected to close by the end of November 2023. The business includes over 20 mother brands with FY23 Revenue of Rs 90 cr. and current revenue run-rate of Rs 100 crore. Some of the legacy brands include Tacrograf and Renodapt in organ transplants and emerging brands like Bionesp and Erypro in chronic kidney disease — induced anaemia.

By James Davey

If you work for Citi now, there are two women who might fill you with apprehension. One is Jane Fraser, the CEO who is on a mission to extract layers of management, do away with pointless meetings and cut jobs, the other is Titi Cole, who is the person tasked with executing Fraser’s intentions.

Dhanteras and Diwali are around the corner and many people in India often like to purchase gold not just an investment but also to celebrate these festivals. Buying gold on the Dhanteras day is believed to bring good luck. Therefore, buying gold jewellery or coins during this period can be an auspicious investment.

The luxury housing segment in India, comprising units priced at Rs 4 crore and above, maintained strong sales momentum in the Jan-Sep’23 period, registering a 97% Y-o-Y increase, according to CBRE’s ‘India Market Monitor Q3 2023’ report.

FMCG maker Dabur India, armed with a cash reserve of Rs 7,000 crore, is scouting for acquisition opportunities in healthcare and home & personal care segments, according to its CEO Mohit Malhotra. Besides, Dabur is looking for acquisition opportunities in the online space, and with several D2C (Direct to Consumer) brands operating in it, it finds the valuation «more reasonable» now and will pursue it if it finds a suitable one for growth, he said. The company is scaling its presence in the online space, which includes e-commerce channels and D2C business, where it plans to introduce more innovations under existing brands and through inorganic opportunities. «We are introducing innovations there. Those innovations are coming on the back of existing brands and these innovations will come on the back of some new brands that we might launch or we are looking at an acquisition for a new brand,» Malhotra told PTI. The company would pursue organic growth with new brand launches in skin care and premium skin care, and the rest would be through acquisitions. «We do not want to do any organic new brand launches with the exception of skincare and premium skincare that we are not present in.

ET 30 Future Unicorns of Delhi-NCR report. Eminent keynote speakers Jeet Vijay, CEO of MEITY Startup Hub and Geetika Dayal, Executive Director of TIE Delhi-NCR, were joined by ET Editors Samidha Sharma, Editor — ET Startups and Tech and Miloni Bhatt, Editor — Digital Broadcast, Economictimes.com, as they took the stage to unveil the report.

By Federica Mileo and Diana Mandia

Adani Green, a unit of the Adani Group, has announced a substantial investment of $750 million in Sri Lanka's power sector, as revealed by Adani Ports and Special Economic Zone (SEZ) CEO, Karan Adani, in an exclusive interview with ET Now. The decision is aimed at bolstering Sri Lanka's energy infrastructure and promoting the transition to cleaner and more sustainable sources of power. Sri Lanka, like many nations, is prioritizing the development of its energy infrastructure to meet the growing demand for electricity while reducing the environmental impact.

Only sunscreen and XXXX Gold in Christmas presents this year for KKR dealmakers, who are about to spend their summer doing due diligence in Queensland.

William Dong, the chief executive of Handpicked Wines, says the company wants to expand after acquiring House of Arras, having identified the high-end wine segment as one that can defy economic downturns.

Myer’s largest shareholder, billionaire businessman Solomon Lew, has urged the retailer’s board to update the market on the performance of the department store, flagging concerns that three key leaders are exiting the company in close succession.

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