CEO Financial News

By Mrinmay Dey and Akash Sriram

An Auckland-based crypto exchange Dasset has apparently gone into liquidation, denying hundreds of customers from accessing their assets.

SageView Advisory Group has announced some leadership changes that see founder Randy Long appointed as chairman of the board and John Longley joining the firm as CEO.

Dabur India Ltd will continue to expand its portfolio across price points and build on its power brands, said Mohit Malhotra, CEO, Dabur India. During the June quarter, the maker of Vatika shampoo and Hajmola candy reported a 8% jump in rural volumes much ahead of the market that grew 4%. Malhotra said rural demand was growing for the company driven by introduction of bridge packs, growing distribution coverage, and a general uptick in demand.

Bata is re-entering the premium price points with fresh portfolios while it increases spending on advertising and promotions to connect with young digital savvy consumers, according to company Managing Director and CEO Gunjan Shah. The company, as part of its sales strategy, is expanding its presence in both channels — physical stores and online — and expects e-commerce to contribute 20 per cent of its total sales in the next two to three years, he said.

weekend collection of Rs 390 crore. The weekend of August 11-13, marked by the release of cinematic powerhouses like Rajinikanth's 'Jailer', Sunny Deol's 'Gadar 2', and Akshay Kumar's 'OMG 2', etched an indelible mark on cinema, resulting in a stunning resurgence and record-breaking success. Among these cinematic juggernauts, 'Jailer' has emerged as a frontrunner, capturing attention with a global collection of Rs 222 crore within the first four days of its release. Deol's captivating presence in 'Gadar 2' contributed significantly to the weekend's extraordinary numbers, amassing a staggering collection of Rs 135 crore. Kumar's charismatic appeal in 'OMG 2' further heightened the cinematic fervour, contributing Rs 43.56 crore to the record-breaking weekend.

By Avneet Singh Marwah

“Success comes overnight, but it takes years of hard work and resilience for that night to come.” This is true in all aspects of our lives; whether you are preparing for an exam, for a degree, or upskilling yourself for a better career.

Infosys will provide services to Liberty Global estimated at 1.5 billion euros over the initial 5-year term and at 2.3 billion euros if the contract is extended to 8 years, the companies said in a joint statement on Tuesday. The collaboration allows Liberty Global to realize run-rate savings in excess of 100 million euros per annum, inclusive of other savings and technology investments, it added.

PayPal USD (PYUSD) is fully backed by US dollar deposits, short-term US treasuries and similar cash equivalents, and can be redeemed 1:1 for US dollars.Starting today and rolling out in the coming weeks, eligible US PayPal customers who purchase PayPal USD will be able to transfer the token to external wallets, send person-to-person payments, fund purchases at checkouts supported by PayPal, and convert cryptocurrency holdings to and from Paypal USD."The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the US dollar," says Dan Schulman, president and CEO, PayPal. "Our commitment to responsible innovation and compliance, and our track record delivering new experiences to our customers, provides the foundation necessary to contribute to the growth of digital payments through PayPal USD." Most of the current volume of stablecoins is used in web3-specific environments, but Paypal's global brand recognition seems certain to propel the novel payments asset into the mainstream.

Elon Musk and Mark Zuckerberg's cage fight remains, the Tesla CEO on Tuesday said he planned to show up unannounced at Meta CEO's home to fight. However, a spokesperson for Zuckerberg at Meta said in a statement that the boss is currently travelling and isn't in Palo Alto, California. «Also, Zuckerberg takes this sport seriously and isn't going to fight someone who randomly shows up at his house,» the spokesperson added.

Crypto exchange Binance late on Monday filed for a protective court order against the US Securities and Exchange Commission saying the regulator's requests for information were «over broad» and «unduly burdensome». In a court filing in the US District Court of Columbia, BAM Trading, Binance US's operating company and BAM Management said the group had already provided sufficient information to the regulator.

Andrew Holland, CEO, Avendus Capital, says “I do not think we are out of the woods yet. I would not be surprised if the Nifty was to go downward to around 19,000, it would be a good point to relook again. But at the moment, even though we remain in this small trading range, the risks are more to the downside, particularly because of the banking index.”Many are questioning whether the market is getting overheated or not. Some of the froth has definitely come off from the top. But do you think there is still a meaningful correction in store or this is just a temporary blip that one has seen and maybe the worst of it got over last week? I am not sure that the worst of it is over yet but it is a temporary blip in terms of the market fall.

lab-grown diamonds have slumped 28.57% year on year in the first four months of the current fiscal despite government backing, but industry insiders expect numbers to pick up this month onward after a price correction in July. Manufacturers of lab-grown diamonds (LGD) – which are 80% cheaper than natural diamond – also claimed that export volumes have increased with the US being the largest importer.

X owner Elon Musk says he will be going to Mark Zuckerberg's house today and the cage match could actually take place if the Meta boss answers the door. Musk said he will ask the Tesla fully self-driving car to drive to Zuckerberg's house, and X users will even be able to watch the duo's adventure via the new X livestream video feature.

Kraft Heinz says CEO Miguel Patricio will become non-executive chair of its board at the start of the new year, with Carlos Abrams-Rivera stepping into the top spot at the food products company at that time

Ford has hired away a key Apple executive to run a new business unit that will sell software-related subscription services to vehicle owners

Ro, the care provider formerly known as Roman, has launched a “body program."

Stocks that traded heavily or had substantial price changes Monday: US Steel, Monday

Prosecutors say they'll use testimony from FTX founder Sam Bankman-Fried's “trusted inner circle” of former executives at his collapsed cryptocurrency empire against him at an October trial

Intuit executive Alex Chriss will become the president and CEO of digital payments company PayPal next month