CEO Financial News

Two executives of a Swedish oil exploration and production company have gone on trial in Stockholm for securing the company’s operations in Sudan through their alleged complicity in war crimes 20 years ago

It’s a transaction that would be commonplace for a corporation or a sports team, but it’s the kind of deal that is practically unheard of in the nonprofit sector

Investing.com — Zscaler reported Tuesday better-than-expected guidance for the current quarter and fiscal fourth-quarter results that topped Wall Street estimates as rising cybersecurity bolstered new business wins. 

shopping malls have seen a sharp recovery in sales across pricepoints in the past few weeks during Raksha Bandhan and Onam, raising hopes of strong demand this festive season even though mass segments in electronics and auto stay under pressure. Retailers said the recent sales trend indicates a normal festive period ahead for apparel and discretionary segments that had been struggling for almost a year now. “The last few months have been challenging, but we are now seeing single-digit same-store sales,” said Devarajan Iyer, chief executive of department store chain Lifestyle International. “We have also managed our inventory for the festive season after gauging this demand boost.” The festive season starts with Onam and covers Ganesh Chaturthi, Durga Puja, Dussehra, Diwali and Bhai Dooj. “Onam sales have been strong and our recently opened mall, Forum Kochi, at Maradu has reported best-ever sales and footfall than any mall we have opened so far,” said Muhammad Ali, CEO of Forum Malls, promoted by Prestige Group Bengaluru-based developer Prestige Group. “In Benguluru also, sales momentum has started, and we expect to overcome the last few month’s slowdown during the long festive season,” he said.

David Kowach, former head of Wells Fargo Advisors, and his new firm, &Partners, took another step closer to coming to market last week when Kowach and his partners acquired a broker-dealer and registered investment advisor with $663.8 million in assets, according to filings with regulators.

Fidelis Capital, a registered investment advisor, announced Tuesday that a team that oversaw $4.5 billion in assets at Bank of America Private Bank has joined the firm.

Tata Power Renewable Energy Ltd (TPREL) will set up a 12 megawatt (MW) on-site solar project at Tata Motors' commercial vehicle manufacturing facility in Maharashtra. In a statement, TPREL said it has already signed a power purchase agreement (PPA) with Tata Motors in this regard. «Tata Motors and Tata Power Renewable Energy Limited (TPREL) have entered into a PPA to develop a new 12MWp on-site solar project at Tata Motors' commercial vehicle manufacturing facility in Pune,» the statement said. The project will generate 17.5 million units of electricity per annum mitigating over 12,400 tonnes of Co2 per annum. «Signing of 12MWp PPA with Tata Motors underlines our critical step forward on the shared goals for a sustainable future.

NEW DELHI : India has all the potential that China had a decade ago, former Canadian foreign and defence Minister Perrin Beatty said. Beatty, who serves as President and CEO of the Canadian Chamber of Commerce, said India is a high priority for Canadian businesses looking for an alternative to China. Critical minerals, renewable technologies and fertilizers will be a key focus.

Birla Corporation has drawn up a strategy to augment its cement production capacity to 25 million tonnes by the 2025-26 fiscal from the existing 20 million tonnes, officials said on Tuesday. The cement maker is planning to meet its targeted production by increasing capacity utilisation at its Mukutban plant in Maharashtra, setting up the second clinker unit at Maihar in Madhya Pradesh and constructing new grinding units. «With the commissioning of Mukutban plant, we have virtually ring-fenced our core market of central India — which we can service seamlessly from our six plants, namely Maihar, Satna, Kundangunj, Raebareli, Chanderia, and now, Mukutban. »The strategic location of these plants and standardisation of product quality allow us to interchange source of supplies to maximise realisation and serviceability for our customers," Birla Corporation Chairman Harsh V Lodha told shareholders during the 103rd annual general meeting of the company here. With the increasing capacity utilisation of the Mukutban unit, the company is confident of increasing its market share in the premium cement segment in that state, where other major players are active.

Telangana Chief Electoral Officer (CEO) Vikas Raj on Tuesday convened a meeting with nodal officers of various enforcement agencies to devise strategies to prevent the free flow of liquor, cash, and drugs to influence voters during the forthcoming Assembly elections in the state. At the meeting, the CEO issued directives aimed at ensuring a fair and transparent electoral process, an official release said. The meeting was attended by senior officials from Police department, Excise department, Commercial Taxes, State Level Bankers Committee, Reserve Bank of India, Central Board of Indirect Taxes and Customs, Narcotic Control Bureau, Enforcement Directorate among other departments, it said. Vikas Raj asked the officials to ensure a fair and transparent electoral process through constitution of District-Level Intelligence committees dedicated to identifying potential expenditure-sensitive areas and monitoring various activities related to distribution of liquor, drugs, money, and precious metals. He emphasised on the need for heightened security and vigilance at helipads and the establishment of integrated check posts along the borders with Maharashtra, Chhattisgarh, Karnataka, and Andhra Pradesh states to check the illegal movement of goods and currency. Enforcement agencies were tasked with preparing comprehensive constituency-wise and district-wise seizure reports, facilitating a deeper understanding of sensitive areas and potential challenges, it said. The CEO also called for the creation of an Election Risk Analysis Cell within the headquarters of enforcement departments to systematically assess and address potential threats to the electoral process, the release added.

Interior designer startup Flipspaces on Tuesday said it has raised $4 million in a mix of equity and debt from a consortium of existing investors led by former IIFL AMC chief executive Prashasta Seth. Other family groups and funds also participated, as per a statement. Flipspaces operates a platform that manages interior designers, product suppliers and contractors for SME clients. “We’ve seen rapid growth in the US market combined with robust India numbers. Leveraging this momentum, our impetus is to enhance our focus on tech to enable processes at scale and double down on building on our supply chain capability to serve global demand,” Kunal Sharma, founder and CEO of Flipspaces, said.

Unified Payments Interface (UPI) has the potential to scale almost ten times and reach a couple of billion transactions a day by 2030, National Payments Corporation of India (NPCI) chief executive officer Dilip Asbe said on Tuesday. Asbe’s comments come as UPI transactions in the country hit the 10-billion mark in August.

NEW YORK (Reuters) — Prime Group Holdings LLC, a private equity firm based in Saratoga Springs, New York, has agreed to pay $20.5 million to settle U.S. Securities and Exchange Commission charges related to disclosure failures, the regulator said on Tuesday.

According to CEO Luca de Meol, Renault 's (EPA:RENA) Ampere electric vehicle division, set to go public through an initial public offering (IPO), might attain a valuation of around €10 billion ($10.8 billion).

MUNICH—For decades, German carmakers dominated their industry with brands that were bywords for excellence and consumer appeal. But as the sector transitions toward electric vehicles, they are falling behind. Nearly a decade into their electric-vehicle shift, and despite billions in investments, VW, BMW, Mercedes and others have failed to make a dent in Tesla’s share of the growing market.

Investment firm Soonicorn Ventures on Tuesday said it has received Sebi's approval to introduce an alternate investment fund with a corpus of Rs 250 crore. The newly approved angel fund will have an additional Rs 250 crore available as a green-shoe option, bringing the total fund capacity to Rs 500 crore, the firm said in a statement. «Soonicorn Ventures (SV), the Gurugram-based investment technology platform, has received regulatory approval from the Securities and Exchange Board of India (SEBI) to introduce an Angel Fund, operating as a Category-I Alternate Investment Fund (AIF),» it added. SV has a sector-agnostic approach to investments and will allocate investments ranging from Rs 50 lakh to Rs 4 crore in startups at the initial funding stages. The platform has been investing in promising sectors, such as Drone Technology, B2B SaaS, Electric Vehicles (EV), Financial Technology (FinTech), Supply Chain Logistics and others. Soonicorn Ventures' portfolio startups include Zypp, Zingbus, Samosa Party, SupplyNote, AutoNxt etc. «The newly approved Angel Fund is sized at an impressive Rs 250 crore, with an additional Rs 250 crore available as a green-shoe option, bringing the total fund capacity to Rs 500 crores.

Mastercard and Binance originally announced beta tests in Argentina just one year ago. The card allowed Binance users to convert cryptocurrencies into fiat currency in real-time at the point of purchase.

(Reuters) -Illumina Inc's board on Tuesday named Agilent Technologies (NYSE:A)' executive Jacob Thaysen as the U.S. genetic testing company's CEO, months after its former head stepped down following a proxy fight with billionaire Carl Icahn.

funding round led by global fintech platform Portage. ThetaRay's technology uses artificial intelligence to identify financial cyber threats like money laundering so users can take action against suspicious transactions.

Honor sees India as a “huge” market and is working with its local partners on setting up operations to tap into the opportunities in the world’s second largest smartphone market where it is seeking a re-entry, said its CEO George Zhao. “India is a huge market for everyone. We are very careful about the market.

India, September 5, 2023 - UPI Merchant UDIR (Unified Dispute and Issue Resolution) system was successfully completed by NPST & NPCI. NPST have completed POC for Realtime refund process with a Marquee PAPG for resolving customer disputes and grievances pertaining to UPI payments, using a system-driven and rule-based mechanism with a minimal manual intervention. While the volume of UPI transactions has been increasing, with a free-market model in UPI is continuing exponential growth, where pricing model and charges are determined by market forces.