CEO Financial News

₹36 crore for the three months ended 30 September from a loss of ₹251 crore in the year-ago period. Zomato reported a ₹2 crore profit for the first time in the June quarter. Revenue from operations grew 71% to touch ₹2,848 crore, driven by a order volume surge across its food ordering and quick commerce businesses.

By Sri Hari N S and Laura Matthews

Sam Bankman-Fried, «King of Crypto», founder and former CEO of crypto exchange FTX, was found guilty by a jury on seven counts including fraud and money laundering after a month-long trial. This verdict comes almost a year after the collapse of FTX, once valued at $32 billion.

Microsoft's Chairman and CEO, Satya Nadella, recently penned his annual letter, unveiling the technology behemoth's vision to drive a new era dominated by Artificial Intelligence (AI). The detailed discourse, shared on October 20, 2023, via LinkedIn, articulates the company's strategy to intertwine AI across all its customer-centric products and the layers of its technology stacks. This narrative underscores the monumental role AI is anticipated to play in reshaping the software landscape and business operations, not just within Microsoft but across the globe.

(Reuters) — Paramount Global shares surged 10% on Friday, after the media company narrowed the 2023 loss forecast for its fast-growing streaming business as investments peaked a year ahead of target.

(Reuters) -Pipeline operator Enbridge (NYSE:ENB) on Friday beat third-quarter profit estimates, benefiting from transporting higher volumes of oil and other liquids.

JSW Infra Q2 Results: JSW Infrastructure announced its July-September quarter results for fiscal 2023-24 (Q2FY24) on Friday, November 3, reporting a rise of 85 per cent to ₹256 crore, compared to ₹138 crore in the corresponding period last year. The JSW Group company's revenue from operations in the second quarter of current fiscal stood at ₹895 crore, registering a growth of 25 per cent, compared to ₹696 crore in the year-ago period.

With just two months left to go in 2023, the technology-heavy Nasdaq Composite has been the top performer of the major U.S. indexes by a wide margin thus far, soaring 27% year-to-date.

AU Small Finance Bank (AU SFB), the largest small finance bank in India, has partnered with ixigo, one of the leading travel platforms, to introduce a premium co-branded credit card tailored for contemporary travellers. This collaboration leverages the financial acumen of AU SFB and ixigo’s extensive presence in Tier-2 and Tier-3 markets to provide customers with a seamless fusion of exclusive financial incentives and unmatched travel advantages, said AU Small Finance Bank.

70-hour work week could raise compliance issues as it violates labour laws, a senior official of staffing company TeamLease said on Friday. «If somebody is spending 70 hours (in office), they are going beyond 9 hours. There is a fundamental disconnect, when you are an employee labour law allows you to work 9 hours,» Vice President and Business Head for TeamLease Degree Apprenticeship Dhriti Prasanna Mahanta said. Former Infosys CEO N R Narayana Murthy had recently advocated for a 70-hour work week, drawing reactions from across the spectrum.

Baroda BNP Paribas Mutual Fund has garnered ₹1,103 crore through its new fund offer on small­cap which was open for subscription between October 6 and October 20, reported Business Line. 

A leading Senate Republican on financial policy wants to open private-market investing to more people who currently don’t meet the net worth or income thresholds to qualify.

LPL Financial has gained a team of five advisors previously with Ameriprise, managing approximately $550 million in client assets.

Dakota Wealth Management is to acquire a family-run practice in a deal which adds around $300 million to its AUM, taking it to near $4 billion.

If there is one thing that supporters and opponents agree on about ESG, it might be that there are too many interpretations of its meaning.

KPMG India, KPMG US, and KPMG UK are in talks to merge their advisory practices—consulting, risk, tech consulting, and deal advisory—in an industry-first move to scale up its consulting services, which have been driving the firm’s growth in India, said multiple people with knowledge of the matter. The combined entity will invest aggressively in scaling up the India advisory practice and growing client servicing capabilities in India. Notably, the tax and audit practice—managed through affiliate BSR & Co— will likely remain separate, although this detail is still under discussion.

(Reuters) — Church & Dwight (NYSE:CHD) lifted its annual net sales forecast for a third time this year on Friday, boosted by high prices as well as strong demand for its household and personal care products.

Bankman-Fried was convicted after a month-long trial in which he was accused of stealing $8 billion from his crypto exchange users in one of the hugest financial fraud cases in history.

Air India on Friday announced that it plans to induct over 30 new planes and operate routes to four new international destinations over the next six months. The Tata-owned airline expects to expand routes to North America, Europe, and Southeast Asia, while also adding more than 400 weekly flights to its domestic and international route network until March 2024, as part of the winter schedule, effective from October 29 to March 30 next year. «Between now and March 2024, Air India expects to induct over 30 wide body and narrow body aircraft to its fleet, including six A350s, four B777s and 20 A320 neos,» it said in a release. The airline expects to receive deliveries of new aircraft over the next six months, which is the impetus for its route expansion.

Bank of Nova Scotia’s Dan Rees, who runs the domestic retail banking business, is leaving along with investment banking chief James Neate and chief technology officer Shawn Rose.

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