CEO Financial News

Bernadette Inglis thinks the so-called “mortgage cliff” was over-hyped.

(Reuters) -Goldman Sachs veteran Luke Sarsfield is set to become chief executive of asset manager P10, the Wall Street Journal reported on Sunday.

MUMBAI : The Bengaluru twins Infosys Ltd and Wipro Ltd, which together hired 208,000 engineering graduates in the past three years, have said they don’t plan to go to the campuses this year. This implies that Tata Consultancy Services (TCS) Ltd and HCL Technologies Ltd, which hired 55% of the half a million engineering graduates between 1 April 2020 and 31 March 2023, will be the only ones among the top four IT companies to hire from colleges this year. According to two analysts, this split in campus hiring strategies among the country’s Big Four IT services firms—a first in more than two decades—could serve as a pointer to investors looking to separate the leaders from the laggards.

MUMBAI : Analysts expect the shares of Kotak Mahindra Bank Ltd to open higher on Monday, potentially outperforming benchmark indices, driven by the banking regulator’s approval of the managing director and chief executive candidate and quarterly earnings that met analysts’ expectations. Friday’s delivery-to-traded volume at 72.13% was the highest since 14 July (83.59%).

Voltas has revived its plans to manufacture air-conditioner compressors in the country with a partner from either Japan or Korea after its earlier such joint venture proposal with China's Highly International was rejected by the government, a top executive has said. The Tata-owned home appliance manufacturer has lined up investments of over Rs 1,300 crore for manufacturing, which include components like compressors, expansion of capacity, and manufacturing of newer home appliances, its managing director and CEO Pradeep Bakshi said. «The compressor project is still on, and we are looking at other partnerships,» he said. «The company is on an investment spree on new factories apart from backward integration.» The compressor project will involve investment of over '350 crore.

Kotak Mahindra Bank, may have proved his mettle on the global stage building retail businesses, but when it comes to his new role, market watchers will closely scrutinise his strategy for sustaining profitability margins while accelerating growth. Vaswani's challenges as the CEO of the country's fourth largest bank with a market value of ₹3.51 lakh crore would include ensuring management stability, building scale in commercial banking, maintaining margins while growing the balance sheet, and preserving a culture built on conservatism rather than aggressive growth, industry watchers said. Kotak Mahindra Bank's existing margins are the highest in the sector at 5.2%. «The market would like to see the new CEO further accelerate growth, increase market share, grow balance sheet and maintain profitability,» said Suresh Ganapathy, head of financial services research at Macquarie. «The market would want a little bit more acceleration on the retail deposit. Over the last 12 months, incrementally 50% of the CASA and term deposits have come above ₹5 crore.

Southern Cross Austereoexecutives are aiming to drum up wider interest to counter a takeover bid from radio rival ARN Media and private equity firm Anchorage Capital Partners lobbed last week.

Coal miner Whitehaven may face a strike at its annual general meeting on Thursday, despite securing BHP’s Queensland coal assets to market acclaim last week.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Tesla to exercise caution, see big share drop; OSHA proposes fines on GM battery plant.

Mahua Moitra has already clarified her stand on allegations of bribe for questions raised, the party would now now await the probe by the parliamentary ethics committee as the matter has to do with «her rights and privileges». BJP MP Nishikant Dubey and lawyer Jai Anant Dehadrai have alleged that Moitra had accepted favours from Hiranandani in exchange for raising questions in Parliament.

Elon Musk acquired Twitter for $44 billion in October last year after a months-long tumultuous phase. One year on, controversies associated with the platform (now called X), amid the non-stop spread of disinformation, is far from over.

SAG-AFTRA and the Alliance of Motion Picture and Television Producers (AMPTP) will resume talks on Tuesday after two weeks of hiatus. Confirming the move, the SAG-AFTRA said in a statement, «It is clear that the strength and solidarity shown by our members has sent an unmistakable message to the CEOs. As we have repeatedly said, we are ready, willing and able to engage on a moment’s notice to meet and to work across the table to achieve a deal that is worthy of your sacrifice.»

IndiGo and SpiceJet – are listed on the bourses. The plans of GoAir to launch an IPO were cancelled, and the airline has been facing financial issues that have affected its operations since May this year. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Akasa, launched in mid-2022, currently operates over 750 flights per week across 16 routes.

IPO hopeful Guzman Y Gomez’s expectations of what it is worth are setting off cases of heartburn among equity capital markets teams and fund managers across the street.

When Magellan Financial Group shows up at court on October 30, it will be flanked by two old favourites.

As artificial intelligence (AI) penetrates more sectors, at least half (49%) of the teachers feel unprepared for its impact, saying more must be done to empower and help them prepare students for an AI-enabled future, a new report has revealed. Governments should support schools to harness the potential of AI to transform education, according to a report by the Oxford University Press (OUP), which has also made recommendations for school leaders and education business leaders to support the use of AI in schools and prioritise quality resources in education.

CEAT Ltd MD & CEO Arnab Banerjee. With crude prices rising again after the recent geopolitical disturbance, there is uncertainty over crude-based raw material costs and if prices increase it could be a dampener to future growth. «The two-wheeler replacement market is growing year-on-year in strong single digits, which is much much different from quarter one.

Manik Taneja, Executive Director- IT Services, Axis Capital, says tier-1 techs in particular, held onto the margins quite well. In fact, margins were flat to an improvement trajectory on a year-on-year basis across each of the tier-1 companies. But that needs to be seen in the context of the fact that some of them also deferred or delayed wage implements, so it may not be a like-to-like comparison. Most IT companies have trimmed their guidance. Only LTI MindTree, Tata Elxsi and HCL Tech have better commentary coming in for the second half of the year. If you could just give a broad-based view on what you are making of the numbers so far and what should we be expecting in the second half? When you look at the broader universe this quarter, and I am talking about both the tier-1 companies as well as the tier-2 techs, most companies have just about managed to meet modest expectations or in some cases disappointed from a growth standpoint. Tier-1 techs in particular, held onto the margins quite well. In fact, margins were flat to an improvement trajectory on a year-on-year basis across each of the tier-1 companies. But that needs to be seen in the context of the fact that some of them also deferred or delayed wage implements, so it may not be a like-to-like comparison.