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It was one of the most jarring emails in recent Australian corporate history. Less than two weeks after delivering a $2.47 billion profit, 1.5 times as big as ever posted before, Qantas CEO Alan Joyce was telling staff he was bowing out.

leadership in India — maintains a studied silence. One hypothesis is that the move could have been intended to nudge the regulator to approve an internal candidate as successor even while Kotak stays on the board as a non-executive, non-independent director. That combination, some have argued, goes against the spirit of banking regulation that allows large shareholders a maximum 15-year term as CEO or full-time director, though it says nothing about them continuing in a non-executive role.

Meanwhile, the global cryptocurrency market cap was trading higher, around $1.06 trillion, rising 1.32% in the last 24 hours. «Bitcoin's value is currently trading around the $26,200 level. This positive price movement might be because of a paper that came out yesterday from the IMF and the G20’s Financial Stability Board. The paper said that banning all cryptocurrencies wouldn't work well in the long term and suggested using targeted restrictions and a comprehensive monetary strategy instead,» Edul Patel, CEO & Co-Founder of Mudrex, said. Other top crypto tokens were also trading higher. Solana, Polkadot, and Litecoin surged over 1%.

Meta's Twitter (now X) rival Threads has rolled out a «keyword search» feature to more countries, including India, on both mobile and web — which the company started testing in Australia and New Zealand last week. Along with India, the company rolled out the feature in Argentina, Mexico, the UK, and the US.

This article is part of our Summer reads series. Visit the full collection for book lists, guest essays and more seasonal distractions. Just a strand of Elvis’s hair would do. Pluck out his DNA and it could be copied millions of times using a technique called the polymerase chain reaction (PCR).

startups and funds said they avoided investment from the country over moral concerns. Some companies continue to steer clear of the kingdom, while human-rights groups say itsrecord on treatment of government dissidents remains aserious problem. But Saudi funding became more in demand last year when other money began to get tight.

Reserve Bank of India (RBI) on Friday approved the appointment of Dipak Gupta as interim MD and CEO of Kotak Mahindra Bank. Gupta have been assigned the position for two months, as of now. The appointment comes after billionaire Uday Kotak, who founded and led Kotak Mahindra, resigned as the managing director and CEO earlier this month, before the end of his term in December. Kotak's early exit from the country's fourth-largest bank is due to personal reasons, as per the lender, but analysts said it will quell concerns that his presence will loom large over his successor. India's banking regulation limits the tenure of lenders' CEOs to 12 years if they are also large shareholders. The bank has sent recommendations for its next full time MD to the RBI and is awaiting approval, it said, without disclosing details, adhering to RBI norms.

China’s exports are faltering and its consumers are spending less at home, the country is flooding the world with cars. Overseas demand for inexpensive vehicles made in China, mostly gasoline-powered models that Chinese consumers now shun in favor of electric cars, is so great that the biggest obstacle to selling more abroad is a lack of specialized ships to carry them. Chinese automakers have leaped to dominance in Russia since war began in Ukraine, transporting cars by train. The companies have also captured large shares of markets in Southeast Asia, Australia, South America and Mexico.

Wynn Resorts and nine unnamed women are settling a lawsuit alleging the casino company failed to investigate allegations that female employees had been sexually harassed by former company CEO Steve Wynn

President Joe Biden has nominated a former Obama administration official to lead the Federal Aviation Administration, which has been without a permanent leader for a year and a half

Elon Musk, the billionaire and CEO of multiple companies has often appealed to both Ukraine and Russia to stop war and find a peaceful solution to age-old problems. Musk has supported Ukraine by providing internet to Ukraine through its Starlink satellite system. However, a biography on Elon Musk, which is set to be released by Simon & Schuster on September 12, has highlighted how Musk prevented war nuclear war between Ukraine and Russia.

Goldman Sachs Group Inc. is planning to perform another round of job cuts to dismiss its underperformers as soon as next month as part of its annual evaluation of staff, reported Financial Times.

Reuters, it is noted that there are indications that this decline may be stabilizing. In August, global website traffic to the ChatGPT website, encompassing both desktop and mobile visits, saw a 3.2% decline, totaling 1.43 billion visits. This followed a roughly 10% reduction in traffic for each of the two preceding months, Reuters reported.

Seven West Media has withdrawn from what was a two-horse race for the Melbourne Cup broadcast rights, leaving Nine Entertainment the likely winner.

Two digitally native wealth management firms are merging into a digital family office serving entrepreneurs, professionals and retirees.

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healthcare following the pandemic is leading to robust growth in opportunity for businesses, and consumers are definitely not downtrading on health, said Brian McNamara, global chief executive of Haleon, the consumer healthcare company spun off from GlaxoSmithKline Consumer. Last year, British consumer healthcare company GSK had separated its consumer healthcare business from GSK Group to form Haleon, an independent listed company that sells non-prescription drugs, vitamins and oral care products.

Viacom18 aims to build a profitable sports business, having committed investments of over ₹34,000 crore for properties like Indian Premier League (IPL) digital rights, India bilateral cricket matches, Women's Premier League, Indian Super League, and 2024 Summer Olympics, said Viacom18 Sports CEO Anil Jayaraj, in an exclusive interview to ET. The company recently bagged the TV and digital rights to all the domestic and international cricket matches held in India for ₹5,963 crore till 2028. The company will be paying ₹67.76 crore per match, including ₹35.23 crore a match for digital and ₹32.53 crore per match for TV. Last year, the company won the digital rights to the IPL for a sum of ₹23,758 crore till 2027. «We want to run a profitable sports business.

As per primeinfobase.com, 1551 independent directors in 825 (out of total 2123) companies listed on NSE shall complete (minimum) a 10-year tenure by 1st April 2024.

No matter how they may be portrayed in movies and on television, the majority of ultra-high-net-worth investors are not single-mindedly focused on lowering their taxes. They are actually more concerned about their kids becoming rich little creeps, a new study shows.  

General Motors made its first wage-and-benefit offer to the United Auto Workers that falls far short of the union’s initial demands