CEO Financial News

RBI) gain kept the policy rates unchanged at 6.5%. The repo rate is the rate of interest at which RBI lends to other banks."Our economy has continued to grow at a reasonable pace becoming the 5th largest economy in the world, contributing around 15% to global growth," said RBI Governor Shaktikanta Das. Talking about inflation, Das said headline inflation after reaching a low of 4.3% in May, rose in June, and will surge in July and August, said.

‘Jailer’ movie has reportedly minted more than ₹19 crores in advance bookings, according to a report published by Sacnilk.com. In India alone, the film has earned ₹12.8 crore, while it has collected ₹6.64 crore by selling 37,000 tickets in the United States, said trade analyst Manobala Vijayan.

International Cricket Council (ICC) has announced the dates for booking of tickets for the ODI World Cup 2023 slated for later this year. The announcement comes shortly after the cricketing body released an updated schedule for the World Cup.

WeWork shares approached zero on Wednesday after the one-time startup darling warned it could go bankrupt in a stunning reversal of fortune for a company that was once privately valued at $47 billion. The SoftBank-backed company has been in turmoil ever since its plans to go public in 2019 imploded after investors recoiled at its hefty losses, corporate governance lapses and the management style of then founder-CEO Adam Neumann. WeWork's woes did not abate in subsequent years.

startups are willing to enter into long-term leases for geographically fixed spaces," interim CEO David Tolley said on an analyst call on Wednesday, Reuters reported. WeWork’s business model includes taking long-term leases and renting out spaces for a short term.

agricultural practices, the reduction of reliance on imported food, and the reinforcement of resilience against the impacts of climate change. In a conversation with LiveMint, Lisa Moon, who holds the position of President and CEO at the Global FoodBanking Network (GFN) and is also the organizer of the G20 Global Food Security Summit 2023, emphasized the critical objectives and pressing nature of ensuring food security. (Edited excerpts.) The Global Food Security Summit 2023 is comprised of officials, businesses and civil society members from across India.

Bob Iger's urgent need to overhaul Disney — to turn its streaming division into a profitable enterprise and pull back on its troubled traditional television business — came into sharp relief Wednesday. Disney's streaming operation lost $512 million in the most-recent quarter, the company said, bringing total streaming losses since 2019, when Disney+ was introduced, to more than $11 billion. Disney+ lost roughly 11.7 million subscribers worldwide in the three months that ended July 1, for a new total of 146.1 million.

Disney Co. CEO Bob Iger vowed to make its streaming services profitable via a planned October price hike on its ad-free Disney+ and Hulu plans and a crackdown on password sharing expected to extend through next year. The increases will raise the monthly cost of ad-free Disney+ by $3, or roughly 27%, to almost $14.

Elon Musk's house is out in public. So where does the Tesla CEO live? Not many people are aware, Musk lives in a 2-bedroom house. Musk, whose net worth is $225,000,000,000 ($225 billion), sold his five grand houses in 2020 and moved to a tiny residence in Boca Chica, Texas.

Techcrunch, “We actually have been looking at multiple markets around the world with an eye toward prioritizing those that are going to help us turn this business into a profitable business. What that basically means is there are some markets that we will invest less in local programming but still maintain the service." Bob Iger has also promised to turn the company profitable once again with a hike in prices of its ad-free Disney and Hulu plans from October this year and a crackdown on password sharing which is expected to commence from next year. While terming the near-term environment as ‘challenging’, Iger said, “I returned to Disney in November, and I've agreed to stay on longer, because there was more to accomplish before our transformation is complete," The media conglomerate plans to raise the price of its ad-free Disney plan by $3, or about 27 per cent, to $14.

Embattled professional services giant PwC has lost two lawyer partners in the past week and others are expected to follow suit once they have worked out notice periods of six months.

startups to traditional Indian business groups, with four out of ten top professionals exiting in the past ten months joining large traditional groups, as unicorns, soonicorns, and other new-age companies seek to clamber out of a grim and protracted funding winter. Since September 2022, about 750 senior executives (CXOs and CXO-1) out of about 5,000 top professionals (with more than Rs 1 crore salary) exited unicorns and soonicorns.

By Danielle Broadway and Dawn Chmielewski

Who’s Vaibhav Taneja Tesla’s New Indian-Origin CFO? Kirkhorn joined Tesla in 2010 as a senior financial analyst and was promoted five times. Most recently, he became the CFO in early 2019 at the age of 34.

AGL Energy has slumped to an annual loss of $1.26 billion due to previously flagged writedowns on its coal power generator, but its underlying profit staged a recovery in line with the guidance it gave the market in June.

India1 is set to transform itself into a fintech company from being the top white-label ATM services provider. While the fintech businesses could take time to deliver profits, the ATM business keeps ringing in the cash. “We are looking at revenue streams beyond white-label ATMs,” said K Srinivas, managing director and CEO of India1 Payments. “Besides providing switching services to smaller banks to connect their ATM network, we are also working as a digital loan facilitator by connecting our 54 million customers who are already on our digital platform to potential lenders,” he added. India1 Payments, in which ICICI Ventures has about 49% stake, is promoted by Australia’s Banktech group. The company plans to leverage its customer base using its white-label ATM platform by being an account aggregator and connecting those interested in small-ticket loans with the potential lender. This could earn the company a fee-based income for the concluded transactions. The company will also continue to expand its mainstream business of providing white-label ATMs in semi-urban and rural areas where it is already having a strong presence and increase its ATM network and expand its regional spread. India1 Payments currently manages 12,200 white-label ATMs throughout the country and plans to double the count by rolling out another 12,000 more ATMs over the next five years.

green hydrogen joint venture partners-Indian Oil Corporation and ReNew-will invest upto $4 billion (₹32,000 crore) in their green hydrogen businesses over three-five years, CEO & Managing Director, S N Subrahmanyan said Wednesday. L&T has a joint venture with state-run Indian Oil Corporation and renewable power company ReNew for its green hydrogen ventures. «We will invest around ₹500 crore in making electrolysers.

Taco Bell is commemorating the conclusion of the trademark dispute surrounding 'Taco Tuesday' by offering complimentary tacos. The festivity will occur on September 12, fittingly a Tuesday, in collaboration with food delivery service DoorDash. They will allocate $5 million towards orders from participating Mexican food vendors. Specifics of the arrangement will be disclosed soon, as confirmed by the restaurant chain. Prior to this event, Taco Bell will distribute free seasoned beef Nacho Cheese Doritos Locos Tacos on Tuesdays, starting August 15 and extending through September 5. This deal applies at select Taco Bell outlets and for delivery orders through the Taco Bell app. No purchase is necessary, and each person is eligible for one taco daily, while supplies last. Usual delivery fees, taxes and gratuities apply.

When Anna McGrath took the reins from former local Aldi boss Tom Daunt, he told her: “Don’t hold back.”

By David Shepardson

By Ross Kerber