CEO Financial News

Freshworks saw two more exits among the top rung of leaders reporting to founder and CEO Girish Mathrubootham. Chief human resources officer Suman Gopalan and chief marketing officer Stacey Epstein are leaving the firm, the company said in a statement on Monday. While Gopalan spent a little over 5 years with the firm, Epstein was with Freshworks for over nearly 2.5 years.

Healy was managing director and senior vice-president of Diligent for over six years.

Turning 40 is a bittersweet experience for women. On one hand, there may be a haunting, nagging sense of regret, of loss for our youth, for the ‘good old’ days.

Legislation that would allow the use of funds from 529 college savings plans to finance education and training for professional designations — including financial advisor credentials — is attracting more support from lawmakers.

Tata Play on Monday said it has started beaming of television channels from its dedicated GSAT-24 satellite which it has leased from Indian space agency ISRO. GSAT-24 was specifically launched for Tata Play (earlier knows as TataSky) in June last year, which will help increase its carrying capacity to 900 channels and cover the length and breadth of the country including far-flung places like Andaman Nicobar and Lakshsdweep islands. After the launch, ISRO took time to place the satellite in the desired slot of 36,000 kilometre geosynchronous orbit.

Twitter Blue to X Premium.Elon Musk, the owner of X, shared this development indirectly through a post discussing ad revenue sharing on the platform. He noted that to be eligible for ad revenue sharing, users must be subscribed to X Premium (Twitter Blue). If not, the ad revenue will be retained by X. Meeting specific criteria is essential for ad revenue participation, including having at least 15 million impressions on posts in the last three months, a minimum of 500 followers, and being at least 18 years old. «To be eligible for your ad revenue share, you must be an X Premium (Blue) subscriber. The ad money will otherwise be kept by X if you are not an X Premium (Blue) subscriber. This program is open to everyone,» Musk tweeted.

Aramco said Monday that it made $30 billion in profit in the second quarter, a nearly 40% decline from the same period the previous year that it attributed to lower oil prices. Total sales stood at just over 400 billion riyals (about $106 billion), down from 562 billion riyals ($150 billion in the second quarter of 2022. In an earnings report filed with the Saudi stock exchange, Aramco said the decrease «mainly reflected the impact of lower crude oil prices and weakening refining and chemicals margins». The company reported net income of 112.8 billion Saudi riyals ($30 billion) compared to 181.6 billion riyals ($48 billion) in the second quarter of 2022, a decline of 37.8% Aramco nevertheless raised its dividend paid out to investors to 110.18 billion riyals ($29.38 billion), compared to $18.8 billion in the second quarter of 2022. The performance-based dividend is partly based on the company's record earnings last year, it said. «Our strong results reflect our resilience and ability to adapt through market cycles,» Aramco CEO Amin Nasser said in a statement accompanying the report.

Suresh Soni, CEO, Baroda BNP Paribas MF, says “in the last three-four months, there have seen about Rs 125,000-150,000 crore of foreign flows, which is more than the entire outflow from FIIs last year. As the Indian growth story remains strong, we believe that foreigners who are relatively under-owned in India might invest more money. Domestic flows have remained strong.

Oyo said on Monday it is planning to add 50 homestays and hotels by the end of this year in Rameswaram and Ramanathapuram. The company said most of the homestays will be near Ramanathaswamy Temple. The company said Dhanushkodi, Pamban and many other parts of Rameswaram have a rich yet unexplored cultural diversity.

Kalgoorlie | The Tim Goyder-backed Chalice Mining was surprised by the Albanese government’s move to work with Indonesia on critical minerals supply chains given the South-East Asia nation competes with Australian nickel producers and has an inferior record of environmental oversight.

Qantas shares could fall 30 per cent as the airline faces hefty spending on aircraft and its once-loved brand is tarnished by poor customer service, high-profile stockbroker Angus Aitken has warned his clients.

Bitcoin, the renowned cryptocurrency, has been facing resistance around the $29,000 mark, but it has recently managed to break above this level.

Kalgoorlie | Pilbara Minerals chief executive Dale Henderson says West Australian companies are desperate for clarity as the WA government prepares to scrap new Aboriginal cultural heritage laws.

Leaders at Deloitte, EY and KPMG will call for fragmented regulation of the sector to be replaced by a single set of standards as part of a Treasury review into their firms they hope will restore public trust in the sector.

EnergyAustralia’s parent company is still in discussions with potential partners for the business after Macquarie Group walked away, but chief executive Richard Lancaster says the solution may turn out to be deals at a project level rather than for the company as a whole.

leadership in AI. Topaz is aimed at creating efficiencies across the enterprise by using smart tools, platforms, and autonomous software engineering for business agility.

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “almost more than a quarter of the FII flows are long-term flows. Over the last three years, that flow to India has already more than doubled and it will go even more as focus shifts from China to India. That pool of capital is going to look at India as a long-term bet and from a long-term perspective, it is always the TINA (There Is No Alternative) factor because I don't see liquidity drying up in the global arena.” Subramaniam further says that “there is no cause to be concerned for a medium-term investor in India whether that is an FII or a domestic investor.

Zomato rallied 8% and crossed the Rs 100 mark in Monday's trade on BSE. The stock has also hit a new 52-week high at Rs 102.8 in Monday's trade.Zomato shares saw a jump after the firm turned profitable in Q1 FY24. Zomato reported a consolidated net profit of Rs 2 crore for the quarter ended June 2023 against a loss of Rs 186 crore in the corresponding quarter of the last financial year.

Rahul Jain, VP Research, Dolat Capital, says it takes away the risk of hostile transaction possibilities in case AntFin stake is purchased by one single entity as they own close to 25% at that point of time. With this deal, AntFin, an affiliate of China’s Ant Group Co, will cease to be the largest shareholder in Paytm. Also, Paytm’s payment services license was pending for approval for more than six months now and the constraint was related to Chinese ownership.Paytm CEO Vijay Shekhar Sharma will purchase 10.30% stake from AntFin Holding. Do you think this is just technically a book entry where the ownership from the right-hand moves to the left-hand?I would say this helps in multiple ways.

₹1,513.45 apiece on the BSE. M&M’s Q1 net profit nearly doubled to ₹2,773.73 crore in the quarter ended June 2023 as compared to ₹1,403.61 crore in the same quarter last year.

Elon Musk has revealed why he might not be able to fight with Mark Zuckerberg this month. Musk said that the exact date for the fight is unclear and he might need a surgery before the clash with Meta CEO. In reply to a post by X News Daily, Musk said, “Exact date is still in flux.