CEO Financial News

India's three key southern cities — Bengaluru, Chennai and Hyderabad dominated office demand with the contribution of 59% of the total office leasing across the top 7 cities during the quarter ended June, according to Vestian. As per the data, the combined office leasing in three major southern cities stood at 8.2 million square feet, out of a total 13.9 million square feet absorbed in the April-June quarter of this calendar year. Across seven major cities, office leasing fell 6 per cent to 13.9 million square feet during April-June as against 14.8 million square feet in the year-ago period due to delays in decision-making by large domestic firms and MNCs amid global uncertainties.

inflation is softening on a YoY basis, still seeing high levels of cumulative inflation, said FMCG major Hindustan Unilever After reporting its Q1 numbers. «FMCG markets are recovering gradually although the operating environment remains challenging. In the near-term, FMCG industry will continue to witness rebalancing of price-volume growth equation and a gradual recovery in consumer demand,» said Rohit Jawa, MD & CEO.

Puravankara Limited, one of the leading real estate developers, has achieved the fifth position in the national brand leadership category of Track2Realty’s Brand X Report 2022-23. The company inched up two positions from its previous ranking of seventh.

Infosys on Thursday reported nearly 11% year-on-year (YoY) growth in consolidated net profit for the June quarter to Rs 5,945 crore. The bottomline was lower than the ET Now poll of Rs 6,150 crore. Consolidated revenue for the quarter increased by 10% YoY to Rs 37,933 crore.

New York City Comptroller Brad Lander slammed a decision by BlackRock Inc., its largest external money manager, to appoint the chief executive of the world’s biggest oil company to its board.

Bengaluru, Chennai and Hyderabad — three top southern cities — contributed 59 per cent to the total gross office leasing across seven major cities during the June quarter, according to real estate consultant Vestian. Bengaluru-based Vestian on Thursday released its quarterly office market report The Connect Q2 2023, stating that the combined office leasing in Bengaluru, Chennai and Hyderabad stood at 8.2 million square feet, out of a total of 13.9 million square feet office absorption in the April-June quarter this year.

According to the 'National Multidimensional Poverty Index: A Progress Review 2023' released by the Niti Aayog earlier this week, the rural areas of the state witnessed a remarkable decline in poverty from 36.14 per cent to 21.41 per cent and in the urban area it declined from 9.94 per cent to 6.88 per cent. According to data shared by the Chief Minister's Office, the Hailakandi district has registered a decline in multi-dimensional poverty from 51.07 per cent to 36.22 per cent, Karimganj district witnessed a decline from 46.02 per cent to 32.93 per cent, from 42.29 per cent to 30.58 per cent in Cachar district, from 51.06 per cent to 26.02 per cent in Dhubri district, from 38.22 per cent to 23.65 per cent in Darrang district, from 36.75 per cent to 22.46 per cent in Morigaon district, from 30.51 per cent to 20.84 per cent in Nagaon district, from 29.46 per cent to 19.16 per cent in Udalguri district, from 25.32 per cent to 19.94 per cent in Sonitpur district.

Elon Musk's elusive goal of creating self-driving software is driving the Tesla CEO to prioritize sales over profits, a strategy that could deepen a price war — and investor concern. Shares of the automaker fell 3.5% in premarket trading on Thursday after Musk signaled there might not be any let-up in cuts that have already sent gross margins to a four-year low. «The short-term variances in gross margin and profitability really are minor relative to the long-term picture.

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Investing.com — European stock markets traded in a mixed fashion Thursday, as investors digested more corporate earnings with the tech sector particularly fragile following weak cues from Wall Street.

A former Deloitte partner has acknowledged he removed two Defence-related documents held by the firm when he left – but maintains both were drafts that were not “confidential or classified”.

New Delhi: Unsafe food is the reason behind a staggering 600 million infections and 4.2 lakh deaths every year, G Kamala Vardhana Rao, chief executive, Food Safety and Standards Authority of India (FSSAI) said on Thursday at the first Global Food Regulators Summit 2023. The summit aims to create a global platform of food regulators to exchange perspectives on strengthening food safety systems and regulatory framework across the food value chain.

OpenAI and its ChatGPT has pushed the tech giant's stock to new highs. The move also nudged his total windfall from Microsoft past a threshold of $1 billion, according to Bloomberg News.  In an email, Microsoft spokesperson Frank Shaw said that Satya Nadella does not have a net worth of a billion dollars or more. His AI-driven move catapulted Microsoft ahead of competitors like Alphabet Inc.

At Westpac, what is old is new again. The return of Jason Yetton – who will take the reins of Westpac’s retail bank for the second time next month – represents one of the great comebacks in Australian banking.

Dunzo is set to undertake another round of layoffs amid a fund crunch, cofounder and CTO Mukund Jha told employees in an all-hands meeting on Wednesday evening. Thelayoffs are part of the firm’s decision to reduce costs by 30-40%, as ET had reported on Wednesday. Chief executive Kabeer Biswas was in Mumbai on Wednesdaymeeting existing investors to secure fresh funds.

Domestic travel is being hampered by delays and higher fares at the same time as more international competition is pushing tourist numbers higher, Sydney Airport says.

Amur S Lakshminarayanan, MD & CEO, Tata Communications, says “digital products and platforms came with a lower margin at the gross margin level and this was again as per the industry norm and this is to be anticipated and that mix effect as a proportion of core connectivity reduces and the proportion of digital revenue goes up, it puts pressure on the gross margin level.”Tata Communications’ margins have continuously been falling. From 25.5% which we saw about four quarters back, it is now down to 21.5%. Is that because of the Switch acquisition being incorporated in the books?No, the margin falling is not purely because of the acquisition.

Dusminute has raised Rs 11.5 crore in a bridge round led by Inflection Point Ventures. The funds will be utilized to drive Dusminute’s growth in Bangalore. The round has seen participation from multiple existing investors and industry veteran angel investors syndicated by an angel investor and banker Bandana Kankani.

Sahamati, a non-profit that promotes the account aggregator (AA) system, is working on a framework for fair use of AA consent. This is to ensure that financial information of users is used only for the stated purpose. The AA framework gives users control over their financial data and lets them share it in a machine-readable format with parties interested in providing services.

The move comes a day after Disney+ Hotstar streaming app owner Novi Digital Entertainment moved the Madras High Court in a bid to stop Google from removing the app from Play Store. Disney+ Hotstar is the first non-Indian OTT (over-the-top) platform that has joined the fight with Google which has moved to the high court. The streaming apps seeking intervention include Disney+ Hotstar, Zee5, Voot, SonyLIV, Manorama Max, SunNXT and Discovery+.

Online gaming companies are worried that potential repetitive taxation could be a death blow as they wait for detailed notification from the law committee of the GST Council, which has announced a 28% goods and services tax on the industry. This could lead to 50-60% indirect tax burden on gamers as mostly they use their winning money to play another game, which would be taxed again, and so on, industry executives said.