CEO Financial News

Lamborghini, though sales of its super-luxury cars are limited in India due to high taxes and lack of adequate infrastructure, said the Italian automaker's chairman and chief executive, Stephan Winkelmann. «There are more (Indian) owners than we sell cars in India. What is a bit of a challenge today for the Indian market, for sure, is the high taxation we have for our type of products, and then, the infrastructure,» Winkelmann told ET.

Bharti Airtel has no plans to launch a locked feature phone device like the Jio Bharat device by competitor Reliance Jio last month, chief executive Gopal Vittal said, adding that the telco does not see a significant impact on its 2G user base. The country’s second largest telco said the contribution of the feature phone market to its overall revenue is 18%, and Airtel’s focus is to drive premiumisation by upgrading these users to 4G. Speaking at the carrier’s first quarter earnings call Friday, Vittal said that the telco was not in race with rival Reliance Jio for 5G coverage, and is just focusing on quality services. “We will not be launching any such device. Our feature phone user is on (the) 2G network, and our focus will be on upgrading them to a smartphone,” Vittal said, addressing queries on the impact of the Jio Bharat launch. All Jio's customers are 4G network ones and the new feature phone launch, much like the JioPhone in 2016, is seen as a strategy to tap into basic phone users yet to upgrade to 4G, analysts said.

Amazon on Thursday posted better-than-expected revenue and profits for the second quarter, sending its stock higher in after-hours trading

Months into the fallout from a damning short-selling report, shares for corporate raider and activist investor Carl Icahn’s conglomerate Icahn Enterprises plunged Friday after the firm halved its quarterly dividend

Electric and hydrogen-powered heavy truck maker Nikola Corp. has named board Chairman Stephen Girsky as its new CEO

An U.S. publishing executive has died in a boating accident off Italy’s Amalfi Coast

Airbnb says its second-quarter profit rose more than 70% from a year ago to $650 million thanks to strong bookings for summer-vacation rentals

MUMBAI : Two days after the death of renowned art director Nitin Desai, the Raigad police registered a case of abetment of suicide against five officials of Edelweiss and ECL Finance, including Rashesh Shah, chairman and CEO of Edelweiss group. The FIR also named chief risk officer of ECL Finance Smit Shah, R.K. Bansal from Edelweiss ARC, insolvency professional Jitendra Kothari, and Keyur Mehta.

The independent contractor broker-dealer subsidiary of Stifel Financial Corp. has added three advisor teams and a combined $673 million to its assets under management.

CEO pay fell last year from the record levels set in 2021, but many chief executives, including those in financial services, take home more than 200 times the median figures earned by workers at their companies.

The CEOs of LPL Financial and Ameriprise Financial Inc., Dan Arnold and James Cracchiolo, last month touched on the potential applications of artificial intelligence and how it could fit into their firms, which combined have more than 30,000 financial advisors working as either independent contractors or employees.

domestic flights slid 2% in July from the same month in 2019, while the number of passengers on trans-Atlantic routes increased 14%, according to Airlines for America, a trade group that represents several major airlines. Airline ticket prices reflect the shift. Domestic fares are down 11% from last year and tracking below 2019 levels, while international fares have risen 11% from a year ago and are up 28% from 2019, according to Hopper, a booking app.

Fortis Healthcare board on Friday approved its diagnostic arm Agilus to initiate an initial public offer process, by way of an offer of sale by the latter's existing and eligible shareholders in the IPO. Agilus was earlier called SRL Diagnostics, which was rebranded in May this year. «The actual timing and implementation of the IPO will be subject to the determination of the Company’s and Agilus’s respective boards, after considering the prevailing market conditions and other relevant factors,» Forits said in a statement to stock exchanges.

Sitharaman on Friday exhorted Regional Rural Banks (RRBs) to focus on increasing digitally active customers to supplement the government's effort for greater digitalisation of the economy. Sitharaman was here to review the financial performance of RRBs in the southern region. During the meeting, Financial Services Secretary Vivek Joshi gave a presentation on various financial metrics of the RRBs.

On Thursday, Binance announced Kristen Hecht as the new Deputy Chief Compliance Officer (CCO) and Global Money Laundering Reporting Officer (GMLRO), a new role amid potential fraud charges from U.S. regulators.

(Reuters) -Canada's Magna International (NYSE:MGA) on Friday raised its full-year profit and sales outlook after its quarterly results beat estimates on solid demand for parts, as automakers ramp up production.

By Ernest Scheyder

Kolte-Patil Developers has reported a 116% year-on-year growth in net profit at Rs 46 crore for the quarter ended June. Revenue from operations witnessed 185.4% growth at Rs 571.2 crore. The company sold a new area of 0.93 million sq ft, up 52% and sales value expanded by 58% to Rs 701 crore, supported by an increase of 4% in average realizations to Rs 7,545 per sq ft.

(Reuters) -Fisker Inc fell nearly 9% on Friday after supply chain issues forced a cut in its annual production target, taking the shine off its smaller-than-expected quarterly loss and the first revenue from deliveries of its electric sport utility vehicles.

₹399 Cr in Q1 FY23 and by 44% on QoQ basis from Rs. 159 Cr in Q4 FY23. Express Parcel shipment volumes grew 19% YoY to 182 million in Q1 FY24 from 152 million shipments in Q1 FY23.

Investing.com — Apple (NASDAQ:AAPL) reported fiscal third-quarter results that topped estimates as strength in its services business helped offset iPhone sales that fell short of estimates.