CEO Financial News

Pioneer Credit is suing PwC Australia for almost $32 million in losses and damage, the latest chapter in a long-running dispute between the listed debt collector and its former auditor over the way its financial assets were valued.

DeFi enthusiasts know all too well the benefits that decentralization can bring to finance: trustless operations, innovation and greater control for users. 

(Reuters) -Morgan Stanley may pay between $500 million and $1 billion to resolve a long-running U.S. probe into how it handled private stock sales, Semafor reported on Tuesday, citing people familiar with the matter.

Adria Alpert Romm, Warner Bros. Discovery's Chief People and Culture Officer, has announced her retirement. Romm is set to step down from her role at the end of June 2024, with the company making this announcement on October 31, 2023. In addition to Romm's retirement, the company has also revealed that Jennifer Remling from WPP will assume the position as the new HR executive, joining Warner Bros. Discovery in January. Remling will work under the direct supervision of Warner Bros. Discovery CEO David Zaslav, whom Alpert Romm has assisted for the past 30 years. WBD acknowledges the substantial role played by Alpert Romm, including her pivotal involvement in Discovery's acquisition of Scripps Networks in 2018 and the successful integration of AT&T's WarnerMedia in 2022. Furthermore, Romm led the development of DEI (diversity, equity, and inclusion) programs and various wellness initiatives, including the creation and expansion of wellness centers and on-site daycare facilities around the world.

Shark Tank panellist Namita Thapar has entered the debate on working 70 hours per week. Thapar took to Twitter to express her concerns about the impact of such long working hours on family time.

MakeMyTrip announced on Tuesday that its wholly-owned subsidiary, MakeMyTrip (India) Private Limited has entered into an agreement to acquire a majority interest in Savaari Car Rentals Private Limited, provider of inter-city car rental services in India. “The transaction is expected to be completed prior to December 31, 2023.

PropTech is expected to become $1 trillion industry in 7-8 years, according to Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East, and Africa, CBRE. Magazine said that the development will move behind 3-4 main cities in coming years. CBRE has selected three startups as part of PropTech challenge, ‘DISRUPTECH 2.0’, where Delhi-based Strawcture has emerged as the winner, while Enlite (Mumbai) and SuperBolter (Bengaluru).

wealth management companies — many of which had their origins as boutique city-based firms — are expanding to tier-2 and -3 cities, as wealth in these places has ballooned in the past two-three years, opening new markets for them. This is leading to a surge in demand for wealth managers, or private bankers, triggering a talent war and an all-time high churn at the top deck, said senior company executives. Emergence of new millionaires in towns such as Morbi, Vapi, Panipat, Ludhiana, Tiruppur, Raipur, Dehradun, Jamshedpur and Rajkot — among several other tier-2 and tier-3 locations — is prompting outfits such as Motilal Oswal Private Wealth, 360 ONE Wealth & Asset Management (formerly IIFL Wealth) and WhiteOak Capital AMC to open offices there and ramp up their teams, as they cater to clients worth Rs 2 crore to over Rs 1,000 crore, said the executives. “Wealth creation is no longer the forte of the top cities, neither is it confined to the coffers of the ultra-rich,” said Prateek Pant, chief business officer, WhiteOak Capital, which has set up offices in 50 new micro markets like Guwahati, Amritsar, Jalandhar and Trichy in the last one year.

insurance companies must furnish for policyholders essential policy details, such as the sum assured, coverage specifics, exclusions, and claims procedure, in a standardised format to ensure straightforward comprehension of the terms and conditions, PTI reported. The Insurance Regulatory and Development Authority of India (IRDAI) has updated the current customer information sheet to present fundamental details about the purchased policy in a more easily comprehensible format, it said.

₹150 crore due to a guarantee by ZEE for Siti Networks Ltd, an Essel Group entity. On 10 August, the Mumbai bench of the National Company Law Tribunal (NCLT) had approved the merger of Zee Entertainment and Sony Pictures Networks India (SPNI), paving the way for the creation of a $10-billion media giant in the country.

New Delhi: The chief executives of Air India and Akasa Air have privately exchanged barbs over the poaching of pilots, with the latter accusing its bigger rival of rule violations, provoking a reply that collusion to curb job switching can breach competition law. The exchange, detailed in a Sept. 21 letter seen by Reuters, spotlights growing competition in India's aviation market, as a strong rebound in air travel after the pandemic, coupled with a flurry of orders for new aircraft, lead to a shortage of pilots.

Captrust has completed its seventh deal of the year and its 70th since 2006 with the acquisition of Column Capital Partners in Indiana.

State Street has announced some changes to its leadership structure as current president, chief operating officer, and head of Investment Services Louis D. Maiuri prepares for retirement.

Suniel Shetty has now weighed in on the ongoing debate around Narayana Murthy's suggestion that a 70-hour-week in corporate India can help the country in the long run. The 62-year-old is the latest to join the chorus of 70-hour-week work schedule, after the techpreneur's exhortation has left corporate India split down the middle. Shetty on Tuesday took to LinkedIn to post his take on the issue. In a long update, he cited the example of Amitabh Bachchan, Abdul Kalam, Virat Kohli and Ratan Tata and how these figures achieved exemplary success in their respective fields by going the extra mile. «Do we really think any of these individuals got to where they did in life, by playing within their comfort zones? Do we really think any of these individuals spent the early years of their careers worrying about whether they were striking the right balance between work & life?»

Animoca Brands subsidiary, Forj, has officially opened applications for the inaugural cohort of the $APE Accelerator, an initiative designed to propel the ApeCoin ecosystem forward. The $APE Accelerator is a community-centric Web3 platform funded by the ApeCoin DAO, aimed at fostering projects that amplify the utility and value of the ApeCoin (token symbol: APE).

China's most popular social media platforms on Tuesday announced that «self-media» accounts with more than 500,000 followers will be asked to display real-name information, a controversial measure that has prompted concerns over doxxing and privacy among some users. «Self-media» includes news and information not necessarily approved by the government, a genre of online content regulators have cracked down on in recent years to «purify» China's cyberspace.

Revenue from operations during the reporting second quarter jumped 11% year-on-year (YoY) to Rs 3,734 crore. The same was at Rs 3,363 crore in the last year quarter. The revenue growth was driven by an underlying growth of 11% in the India business, 8% in the International business, and 3% in the non-branded business. Consolidated EBITDA for the quarter stood at Rs 569 crore, up 30% YoY. India business For the quarter, the India packaged beverages business delivered 5% revenue growth and 3% volume growth.

At times we have multiple credit cards, and we only tend to use some while others are kept aside in our wallets. Some may get a credit card and stop using it after they have already got it activated. These habits may sound like having no immediate impact on you, but you may lose out on rewards and lack an opportunity to build a solid credit score.

Morgan Stanley’s decision to award $20 million special bonuses to its runners-up for chief executive officer points to a governance risk, raising questions about their commitment to the company, according to Wells Fargo & Co. analyst Mike Mayo.

gold demand in India increased 10% year-on-year in the quarter to September to 210 tonnes due to lower prices. Much of this demand came from rural India which accounts for 60% of India’s annual consumption, which is pegged at 700-750 tonnes for 2023 by the World Gold Council (WGC), a little lower than it was last year. Globally, the WGC Q3 Gold Demand Trends report reveals, support for the asset continues as central bank buying maintains a historic pace, bringing quarterly gold demand to 1,147 tonnes, 8% higher than its five-year average. Gold jewellery sales in India increased 7% year-on-year to 155.7 tonnes, aided by softer gold prices and festive demand, which was more pronounced in southern India.

IKS Health announced the acquisition of AQuity Solutions as its wholly-owned subsidiary for $200 million, the company said in a media release. While IKS Health (Inventurus Knowledge Solutions Limited) provides administrative, clinical, and operational services in the healthcare domain, AQuity Solutions is tech-enabled clinical documentation, medical coding and revenue integrity solutions provider for the healthcare sector. «IKS Health’s market leadership in the ambulatory market will be coupled with AQuity’s market leadership in the acute care market to create an entity that enables clinicians and their enterprises to deliver better, safer, more efficient care across the continuum of care delivery,» the media release said. The combined company, which will operate as IKS Health, will likely have annual revenues of over $330 million with a global workforce of over 14,000 employees serving over 150,000 clinicians across hospitals, health systems, and specialty groups in the US, as per the claims made by the company. “US healthcare is in crisis, one that is deepening from all sides.