CEO Financial News

Origin Energy expects earnings in its energy markets business to improve this year before a softening in electricity profits as tariffs finally turn south.

ASX chief executive Helen Lofthouse said the looming peak in interest rates and softening inflation should lure more traders back to the sharemarket, pushing back on concerns the outlook for revenue growth remains challenged.

Walmart Inc on Wednesday promoted Kathryn McLay, CEO of its Sam's Club unit, to head its $100 billion international business at a time when high inflation is squeezing spending in many global markets and China's economy is slowing. McLay, a 49-year-old Australian considered a star within the U.S. company's ranks, will take over the division on Sept.

NEW DELHI : Luggage maker Samsonite reported nearly a 38% jump in sales in India in the first half of 2023, a strong indicator of the travel boom translating to sustained demand for hard luggage and travel bags. During the first half of 2023, Samsonite International SA, which covers the Southeast Asian markets for the luggage maker, said net sales in India jumped 38% (constant currency) in India. Net sales in China grew 99% in the same period, the company said in its earnings release for the six months ended 30 June, filed on Wednesday in Hong Kong.

“High-net-worth-individuals” in Chile are growing increasingly keen on crypto investment, an expert has claimed.

InCred Financial Services is set to launch its first issue of market-linked debentures for retail investors, with the returns of the product linked to the Nifty 50 index. The issue offers 100% protection of the principal amount at maturity and a minimum total return of 14% on the maturity date, which is August 31, 2025, the non-banking financial company said in a statement.

By Siddharth Cavale and Ananya Mariam Rajesh

By Jaspreet Singh and Max A. Cherney

(Reuters) — Australia's Telstra (OTC:TLGPY) on Thursday forecast higher underlying core earnings after it posted a 14% jump in annual profit, riding on strong growth in its mobile business and an increase in postpaid prices.

Check out the companies making headlines in extended trading.

Mercury Systems (NASDAQ:MRCY) reported its Q4 results yesterday, with EPS of $0.11 coming in worse than the consensus estimate of $0.52. Revenue was $252.3 million, missing the consensus estimate of $278.81M.

healthcare to grow families and improve the standard of living is opening newer investment opportunities for Baring Asia-EQT, said one of its key executives. Baring Private Equity Asia-EQT (BPEA-EQT) announced two headline transactions in as many months. In June, it teamed up with Chrys Capital to buy 90% of Credila, the education loan arm of HDFC Ltd, for $1.1 billion--the largest-ever private equity (PE) buyout in India in the financial services sector. The following month, it invested $650-700 million for a 60-65% stake in Indira IVF, the largest provider of fertility services in India and among the top five globally in terms of annual in vitro fertilisation (IVF) cycles. Baring Asia and Sweden’s EQT announced a $7.5 billion merger in 2022 to create the world's third-largest PE fund group. “We continue to remain positively inclined to make more investments. We are not going to maintain that same pace of investments every month, but we are still inclined to making more investments in healthcare,” said Jean Salata, CEO, BPEA-EQT. “We just announced Indira IVF and we did AIG Hospitals in Hyderabad last year. We are still open to doing more in financial services, and of course tech and IT services has been the main thrust for us.”

general elections are approaching. At the beginning of the lockdown, the news category commanded nearly a fifth of overall TV viewership, thanks to lack of fresh content and viewers’ hunger for covid-related information, only to fall to nearly 4% as the economy opened up. However, its share has spurted further to 7.1%, latest data accessed by Mint showed.

Samsonite, the world's biggest luggage maker, said the Indian travel industry has been insulated from the overall slowdown in discretionary spends. This was helped by consumers vacationing quarterly instead of just once or twice a year post the pandemic.

Intel is terminating a $5.4 billion agreement to acquire Israeli chip manufacturer Tower Semiconductor after China failed to sign off on the deal amid deteriorating US-China relations

United States Steel Corp. seems poised to be soon purchased by a competitor, with two bidders revealed in a matter of days and more in the wings

Texas on Wednesday approved its plan to require companies to include Tesla's technology in electric vehicle (EV) charging stations to be eligible for federal funds, despite calls for more time to re-engineer and test the connectors. The decision by Texas — the biggest recipient of a $5 billion program meant to electrify U.S. highways — is being closely watched by other states and is a step forward for Tesla CEO Elon Musk's plans to make its technology the U.S.

Amber, University Living and UniAcco that help students find accommodation near campuses across the world, are targeting 2-3x annual growth in business on soaring demand not just from Indian students going abroad but other international students as well. Companies in this space told ET that while initially they only had Indian study-abroad students, now 70-80% of their base comprises students from international markets, looking for the convenience and support these platforms offer. “The student mobility industry has seen a remarkable recovery since the pandemic, with lots of students going abroad every year,” said Saurabh Arora, CEO of University Living, a global student-housing managed marketplace.

Finance Minister Nirmala Sitharaman on Wednesday invited Japan Bank for International Cooperation (JBIC) for an active engagement with National Investment and Infrastructure Fund (NIIF), EXIM Bank of India and other financial institutions citing huge opportunity for investment in the country. During the meeting with JBIC Governor Hayashi Nobumitsu here, both exchanged views on JBIC's recent activities in India contributing towards Japan's investment target of five trillion yen over the next five years. «The Union Finance Minister observed that India has been ranked by the JBIC as one of the most attractive #investment destinations in recent years' survey of Japanese manufacturing companies and encouraged engagement of JBIC with Indian financial institutions such as Exim Bank @IndiaEximBank, NIIF and lending banks to leverage the strength and complementarities of both countries,» the finance ministry said in a statement posted on X. Japan has agreed to provide 5 trillion yen in public-private investment and loans to India over the next 5 years. This goal was set by both countries during Prime Minister Kishida Fumio's visit to India in March of last year.

Repco Home Finance expects to manage assets under management (AUM) of around Rs 14,000 crore by the current financial year, a top official said. The Tamil Nadu-based company was managing AUM of around Rs 12,400 crore at the beginning of the year, Managing Director and CEO K Swaminathan said. «As regards AUM, I think we were around Rs 12,400 crore at the beginning of the year. We plan to reach somewhere around Rs 14,000 crore by the current year-end. That is our plan of action. When the momentum happens, especially the second and third quarters are normally the peak quarters for the company,» Swaminathan said at the Q1 FY24 earnings conference call recently. During the second and third quarters, Swaminathan said, «I expect the book growth will also be more than the 9 per cent growth that we did in the first quarter.» «Definitely, I think we will be able to reach the number of around Rs 14,000 crore. That is our plan of action for the year-end» he said.

PM-eBus Sewa scheme to deploy 10,000 electric buses across India will take electric mobility to the grassroots level and boost localisation, automobile industry players said on Wednesday. The Union cabinet on Wednesday approved 'PM-eBus Sewa' for augmenting city bus operations, under which priority will be given to cities having no organised bus service.