CEO Financial News

Elon Musk and Jeff Bezos have become the two wealthiest men in the world thanks to their breakthrough technology companies. But Musk, through SpaceX, has long held a big lead in the pursuit closest to their hearts: colonizing space. Now, their space race is entering a new era as Bezos approaches two milestones that, if successful, could chip away at Musk's dominance. Bezos' rocket company, Blue Origin, is planning to soon launch New Glenn, a massive rocket that will compete directly with SpaceX's reusable Falcon 9 rockets. Then Amazon — founded by Bezos, who serves as its board's executive chair — is preparing to deploy Project Kuiper, the company's network of satellites that will challenge SpaceX's Starlink network in providing internet access from space in low Earth orbit.

Uber Technologies and its CEO Dara Khosrowshahi each donated $1 million to U.S. President-elect Donald Trump's inaugural fund, a company spokesperson told Reuters on Tuesday. The ride-hailing firm joins a list of several large businesses that have sought to build a positive relationship with the incoming Trump administration after he won the election in November. The donations by Uber and Khosrowshahi were first reported by The Wall Street Journal earlier in the day.

Ambuja Cement, Alivus Life, Route Mobile, Aurobindo Pharma, LTIMindtree among others will be in focus due to various news developments. Piramal Enterprises Piramal Enterprises announced that the administrative committee of its board of directors will meet on December 20 to consider public issuance of non-convertible debentures (NCDs).

The Stellantis automaker has pledged to invest 2 billion euros or $2.1 billion in Italian production next year and spend another 6 billion euros or $6.3 billion in the supply chain

The man accused of killing UnitedHealthcare’s CEO is charged with murder as an act of terrorism

Japanese tycoon Masayoshi Son has joined President-elect Donald Trump in announcing plans by technology and telecoms giant SoftBank Group to invest $100 billion in projects in the United States

Subscribe to enjoy similar stories. ‘The Lovers’, a Francis Newton Souza artwork that made headlines at an auction of South Asian Modern and Contemporary Art by Christie’s in New York in March, is one of the 10 most expensive paintings sold by the iconic British auction house this year.

The PGA Tour is hiring a CEO for the first time

Klarna, a leading fintech company, is making waves after its CEO, Sebastian Siemiatkowski, stated that artificial intelligence (AI) is now capable of performing nearly all tasks that were once handled by human employees. In an interview with Bloomberg TV, Siemiatkowski discussed the rapid advancement of AI and its growing role in the workforce, raising important questions about the future of employment. Siemiatkowski revealed that Klarna, known for its «buy now, pay later» services, has not hired any new staff in the past year, leading to a natural reduction in its workforce. The company, which once employed 4,500 people, now has 3,500 employees. This reduction, according to Siemiatkowski, was a result of a typical 20% annual attrition rate seen in tech firms, meaning that about 20% of employees leave every year. Rather than hiring replacements, Klarna chose to let the workforce shrink. “We have a natural attrition like every tech company. People stay for about five years, so 20 per cent leave every year. By not hiring, we are simply shrinking,” he explained. Despite the workforce reduction, Siemiatkowski assured that the current employees’ salaries would not be negatively impacted. He noted that as the company’s salary costs decrease due to fewer employees, the savings could lead to higher pay for those who remain.

Subscribe to enjoy similar stories. When he was in college in Sweden, Ali Ghodsi read an article about a chief executive who was hired to save a struggling tech company. It reminded him of the surgeries his parents, both doctors, performed while he was growing up.

Thorn has worked at the firm for over 40-years and his announcement has catalysed a series of internal promotions. Nick Wood has been named as Thorn's successor, taking over as the next head of regional offices and stepping up from his role as head of investment research, which will now be assumed by Matt Ennion. Quilter Cheviot CEO Andy McGlone joins PIMFA board Wood, who joined Quilter in 2012, will begin his role as head of regional offices on 1 January 2025, subject to regulatory approval. He will be working with the outgoing Thorn to ensure a «smooth transition» in the inte...

Ecommerce furniture and home decor company Pepperfry has elevated Madhusudan Bihani to the role of chief financial officer (CFO), the company said in a statement Tuesday. Bihani has close to two decades of experience in finance, corporate compliance, taxation and auditing. He joined Pepperfry in 2019 as AVP-finance and advanced to the role of VP-finance in 2021. Over the past six years, he has played a crucial role in driving the company's growth, financial discipline, operational efficiencies and compliance frameworks. He has been responsible for improving profitability, streamlining financial operations and supporting strategic initiatives.

Japan’s biggest bank has apologized after an employee allegedly stole more than 1 billion yen ($6.6 million) from customers' safe deposit boxes

Shares are mixed in Asia after the Nasdaq set a record ahead of a meeting by the Federal Reserve later this week that could set the direction for markets in the new year

President-elect Donald Trump joined SoftBank Group CEO Masayoshi Son to announce plans by the Japanese company to invest $100 billion in U.S. projects over the next four years

More than two years after the collapse of cryptocurrency exchange FTX, some of its customers will start getting their money back early next year.

Incoming White House press secretary Karoline Leavitt comments on President-elect Trump's U.S. industry investments, Mitt Romney's recent supportive statements and tech CEOs flocking to Mar-a-Lago.

Subscribe to enjoy similar stories. PALM BEACH, Fla.—Donald Trump and SoftBank Group CEO Masayoshi Son are set to jointly announce on Monday that the company is planning to invest $100 billion in U.S. projects over the next four years, according to a person involved in the event, as the president-elect seeks to project enthusiasm over his return to power.

Isak Andic who was the founder of the European fashion company Mango and also a billionaire eventually passed away at the age of 71 following a tragic accident, reported Business Insider. According to Business Insider, Mango CEO Toni Ruiz revealed that Isak Andic died when he suffered a fall into a ravine while he was hiking with his family in the caves of Salnitre which are located near Barcelona. Toni Ruiz with a very heavy heart and immense sadness also praised about Isak Andic by saying that his strategic vision and leadership he left an indelible mark on the company and thus embodied its core values. Also Read: Once friends now foe: A-list celebrities who once partied with Diddy now dissociate with the rapper; here are the stars who have befriended him

The Indian-origin entrepreneur posed a simple yet thought-provoking question on X (formerly Twitter): “I think I should get a green card. Wdyt?”. And this wasn't just the only query. Srinivas, a graduate of IIT Madras and PhD holder from UC Berkeley, revealed that he has been waiting for his green card for three years. Known for his sharp, quirky and concise remarks, billionaire Elon Musk replied to the post with a straightforward “Yes.” The exchange quickly gained traction, with netizens, industry leaders, and Musk’s followers weighing in on the broader issue of US immigration policies.

Subscribe to enjoy similar stories. Bengaluru: When Pune-based Persistent Systems crossed the $1 billion revenue mark in FY23, a tech services leader asked founder Anand Deshpande how the company, which was formed in 1990, had finally gone past the landmark figure. An industry veteran recounted to Mint that Deshpande smiled when the question was posed, then responded saying, “Credit goes to our team." That team, under chief executive officer (CEO) Sandeep Kalra, who had joined Persistent in May 2019, put the technology services and solutions company on the path to rapid growth, increasing revenue from $501 million in 2020 to $1.18 billion in FY24.