CEO Financial News

festive season and developers announcing new launches and new offers with freebies during these months, the demand usually remains high. The added benefit for customers would be no rise in home loan EMIs. This would definitely enhance the joy of festivities for homebuyers," said Rahul Mehrotra, MD & CEO, of Religare Housing Development Finance Corporation Limited (RHDFCL).

Russia’s Sber, the operator of Sberbank, says it will join the Central Bank’s digital ruble pilot, in a major coup for the nation’s CBDC.

Biotechnology giant CSL argues an ageing population will help shield its business from any fallout from the explosion in Ozempic-style drugs used off-label to treat weight loss, and potentially undermining its investment in therapies targeting kidney disease.

Sundar Pichai had warned Google about ‘bad optics’ of Apple search partnership: ‘Have Yahoo as a choice’ The report while noting DeepMind CEO's contribution said, “Hassabis, known for his dual expertise as an AI researcher and neuroscientist, has enriched his public discourses with a unique blend of knowledge." Hassabis topped the rankings with a score of 87.33, followed by Blackstone CEO Stephen Schwarzman with a score of 74.33 and Berkshire Hathaway CEO Warren E Buffett with a score of 74. Notably, the report finds former Amazon CEO Jeff Bezos (5th sport, score of 71) and Meta platforms CEO Mark Zuckerberg (8th spot, score of 69.67) to be smarter than the world's richest man, Elon Musk who has been ranked on the 16th spot with a score of 64.33.

₹3,771.70 apiece on the BSE. Avenue Supermarts, the operator of DMart retail chain, on October 14 reported a consolidated net profit of ₹623.35 crore for the second quarter FY24, registering a drop of 9.09% from ₹685.71 crore in the year-ago period. The company’s consolidated revenue from operations in Q2FY24 grew 18.66% to ₹12,624.37 crore from ₹10.638.33 crore, YoY.

Ferrari has started to accept payment in cryptocurrency for its luxury sports cars in the U.S. and will extend the scheme to Europe following requests from its wealthy customers, its marketing and commercial chief told Reuters. The vast majority of blue-chip companies have steered clear of crypto as the volatility of bitcoin and other tokens renders them impractical for commerce.

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “the infra play has got a little stretch in valuation. It is time for consumption to pick up. Because so far, whatever consumption has picked up has been premium consumption – be it premium housing, cars with prices over Rs 7 lakh. I think the mass consumption is yet to pick up. Come election year with liquidity floating in the market, this festival season numbers will also come in. It is a delayed festival season with Diwali coming only mid-November.” Where are your investments, apart from Sundaram Mutual Funds? Nothing apart from Sundaram Mutual Funds. Everything is in Sundaram.

Brands and ecommerce platform executives said they have seen a better-than-expected start to festive season sales at the end of the first week, with deep discounts, shaking off concerns around an impact from the ‘Shradh’ period, which lasted till October 15.

Tata Consultancy Services (TCS) may grow in “very moderate single digits” in this fiscal year, according to CEO K Krithivasan who assumed office in June. The 59-year-old executive’s term comes amid one of the most testing years for the IT services industry, which is faced with slowing demand for its offerings worldwide. This could mean that TCS could register its slowest annual growth ever, more so as the first two quarters have been “very muted” and the next two quarters are expected to be seasonally weak for the entire sector, Krithivasan told ET in an interview. Edited excerpts:

Aakash Chaudhry — the promoter of Aakash Institute — is likely to return as the chief executive officer of the company as part of a broader arrangement being finalised with its owner Byju’s, multiple people aware of the matter said. Chaudhry is also in final stages of talks to close the stock-swap deal with Byju’s as part of the acquisition announced about two years ago, the people said. He would replace incumbent Abhishek Maheshwari who left Aakash Institute last month.

Michael Ahearne, chief executive of SkyCity Entertainment, will depart the company in March as the Adelaide casino owner braces for a potential multimillion-dollar fine and the loss of its New Zealand licence.

BHP directors have been accused of going soft on top executives over the “underpayment” of staff, with proxy adviser CGI Glass Lewis telling the board it expects more “consequences” for the incident to be felt in next year’s pay.

Sir Jim Ratcliffe Poised to Assume Control of Manchester United Operations In a significant development for Manchester United, lifelong fan and British billionaire Sir Jim Ratcliffe is on the cusp of securing a pivotal role within the club's management structure. Reports suggest that Ratcliffe is set to acquire a substantial 25% stake in the Premier League giants, with a staggering £1.4 billion deal expected to be finalized imminently. Ratcliffe had been engaged in a bidding war with Qatari Sheikh Jassim for ownership of the club, but emerged as the sole front runner following Jassim's withdrawal of his offer on Saturday night.

On September 29, 2023, OpenTrade, a notable platform bridging traditional financial markets with digital asset realms, declared a strategic collaboration with WOO X, enabling its user base to tap into tokenized Treasury Bills (T-Bills) and avail USDC-collateralized loans against liquid assets on a blockchain infrastructure, according to WOO official blog. This initiative is engineered through OpenTrade's recent unveiling of tokenized T-Bills on Circle Research’s Perimeter Protocol.

₹20,000 crore in Kerala’s Vizhinjam Transhipment Terminal by 2030, managing director and chief executive Karan Adani said on a day the upcoming transhipment terminal officially received its first ship. The Zhen Hua 15, carrying cranes ordered for the port construction, was formally received by Kerala chief minister Pinarayi Vijayan and joined by various dignitaries. A water salute from towing rigs welcomed the visiting vessel.

In a recent legal document filed, attorneys for the former CEO of cryptocurrency exchange FTX, Samuel Bankman-Fried, have raised objections regarding the proposed jury questions for the upcoming fraud trial. The document asserts that the government's proposed jury questions could elicit biased responses against Bankman-Fried, which might lead to an unfair trial.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Tesla reaches a production milestone; OSHA violations plague GM plant; and VinFast buys a battery company.

Adani Ports & SEZ is “confident” of repaying by Feb 2024, the $650 million of foreign currency bonds that are maturing next year, its CEO said Sunday. “We have already prepaid $120 million and then another $190 million,” Karan Adani told reporters on the sidelines of the inauguration of its Vizhinjam port in Kerala. “We are very confident that by January-February we will prepay the balance amount. And that was part of our commitment at the start of the year, when we had said our net debt-equity ratio will be 2.5X,” Adani had in February said his company would repay Rs 5,000 crore worth of debt by next financial year. Adani’s debt-prepayment is part of its efforts to win back investor trust, large swathes of which were eroded after an American short-seller Hindenburg alleged it of stock price manipulation. As of June, the company had prepaid $2.65 billion worth of loans. The company, that aims to become the world’s largest port operator by 2030, is looking at brownfield international port projects in Vietnam, Kenya and Tanzania, said CEO Adani. The Vietnamese government had, in a statement in May, said it welcomed Adani’s investment in its Lien Chieu port and renewable energy projects.

Tech companies say that clients continue to defer newer, non-critical initiatives, choosing to focus on optimisation. While global voices concede that there are no signs of bottoming out just yet, JP Morgan's Jamie Dimon has warned that the world is facing the 'most dangerous time in decades'. Meanwhile, Infosys's headcount fell by 7,530 to 3,28,764 as of September 30, 2023, against 3,36,294 in the June quarter.

Election Commission of India (ECI) is yet to respond to pleas made by political parties, churches, civil society organisations and student bodies of Mizoram to reshedule the date for counting of votes in the state, a senior official of the election department said on Sunday. Mizoram chief electoral officer (CEO) Madhup Vyas told PTI that his office was yet to receive any response from the central poll panel regarding the request till now. Additional CEO H Lianzela also said the election commission, which is likely to seek a comment from the state election department on the issue of change in counting date, is yet to respond.

tyre maker Yokohama is betting on local production in India for a «sustainable and competitive» business model in the country, according to a top company official. Yokohama Rubber company, which is present in the country through a wholly-owned subsidiary, is coming up with a new plant in Visakhapatnam in addition to its existing plant in Bahadurgarh, Haryana.