CEO Financial News

Morgan Stanley Wealth Management wants to focus on Australia’s wealthiest individuals, with stockbroker Ord Minnett to take on the bank’s less-wealthy clients.

Peter Nathan, the former a2 Milk Company executive at the centre of a bid to unseat Bubs Australia’s management, says the infant formula group’s board is distracted with “creating negative headlines and legal disputes”.

Commonwealth Bank chief executive Matt Comyn says younger people and renters are feeling the sharpest financial stress in Australia, as higher interest rates and inflation start to grind the economy to a near halt.

Elon Musk owned Twitter had limited the number of tweets a user can view, read or engage with recently. Amid surging debate over the move enforced by Elon Musk and Twitter, the social media giant has filed a lawsuit against four unnamed entities in Texas for data scraping, a local TV station said on Wednesday.  The report stated that the volume of automated sign-up requests from the four defendants' IP addresses far exceeded what any single person could send to a person, which severely taxed Twitter's servers. The report further mentioned that the lawsuit was filed on 6 July in the District Court of Dallas County in Texas.

New Delhi: The defence ministry and the Food Safety and Standards Authority of India (FSSAI) signed a Memorandum of Understanding (MoU) on Thursday to promote healthy eating practices and ensure availability of safe and nutritious food for the armed forces. “It aims to create awareness about the nutritional benefits of diet diversity and millet-based food products among the personnel.

Narendra Modi on Thursday said the primary UN body cannot claim to be speaking for the world when its most populous country and the largest democracy is not a permanent member. He made the remark during an interview with French newspaper 'Les Echos' ahead of his two-day official visit to France that begins later on Thursday. On whether the credibility of UN was at stake, with India still not finding permanent membership of the UNSC, Prime Minister Modi said the UN was one of many global institutions that were founded in the wake of the Second World War, and it has to be seen whether they are representative of today's world, which has transformed a lot in the last eight decades.

Akasa Air is «well capitalised» with adequate funds to place a three-digit aircraft order by the end of this year and has the potential to grow at a much faster pace, according to the airline's chief Vinay Dube. The airline is set to complete one year of flying next month, and in the words of Dube, «we have exceeded our expectations». Currently, the carrier has 19 aircraft and the 20th aircraft is expected to be inducted this month, which will also make it eligible for international operations.

Arjun Mohan, according to multiple sources aware of the matter. These people said he is heading the international business unit at the firm but may get additional responsibilities as well. While confirming that he is working with the company, Mohan, however, said he has not joined the company 'on this (international business)' role.

cryptocurrency markets were trading in the red on Thursday despite the lower-than-expected inflation data in June. Bitcoin (BTC) fell 1.21% to $30,357, whereas Ethereum (ETH) was below the 1,900 level. BTC volume stood at approximately $14.62 billion, rising 23.46% in the last 24 hours. «Bitcoin is steady above $30,000, in a range it has been since late June. Favorable US CPI inflation data hasn't excited the market yet with key resistance forming around $31,000,» Vikram Subburaj, CEO at Giottus Crypto Platform, said. «Ethereum continues to lag behind the leading asset under $1,900. This period of consolidation will end with a break on either side with a high probability of a considerable rally in the coming weeks,» he added.

Elon Musk finally launched his highly anticipated artificial intelligence startup, xAI. The company's team consists of engineers recruited from major U.S. technology firms, which Musk aims to rival as he strives to create an alternative to ChatGPT.

(Reuters) -Domino’s Pizza Group (LON:DOM) said on Thursday Andrew Rennie, who has served as the Europe chief for a major franchise operator of the pizza chain, will join the UK firm in August as its chief executive.

Japan’s Inpex Corporation has plunged into renewable energy development in Australia with an investment of more than $650 million, significantly reducing its concentration in the under-pressure gas sector.

Filing ITR on crypto gains: The Union government imposed a 30% tax on crypto profits in Union Budget 2022. A 1% TDS on sales was also introduced.

Suumit Shah, the CEO of e-commerce startup Dukaan, faced huge flak online after a post of him replacing 90 per cent of his customer support team with an AI chatbot went viral on Twitter. Taking to Twitter on Tuesday, the entrepreneur revealed that he decided to prioritise prompt customer service and profitability over everything. He wrote that the use of AI tools reduced wait time from one minute, 44 seconds to instantaneous. Customer support costs were cut down by 85 per cent. “We had to lay off 90% of our support team because of this AI chatbot. Tough? Yes. Necessary? Absolutely,” the entrepreneur, while presenting his case, wrote on Twitter. He also wrote about how his team developed an AI chatbot named Lina which generated instant answers to customer queries and also curated customised answers for clients. In one sweep, he claims that Dukaan was able to remove communication bottlenecks such as delayed, generic responses and also cut down costs.. “200 live chats and ~1400 support tickets have been marked as 'resolved' by Lina. I literally started feeling like Edward Morra from the movie 'Limitless' is running the entire customer support of Dukaan by himself, seriously,” he wrote. The post went viral on Twitter, amassing two million views and 2,545 likes, and counting. However, it also generated much outrage across the Internet as was expected.

RBI Floating Rate Savings Bond offers 8.1% interest now: How is it calculated? A whopping interest rate of 8.1 per cent may look attractive but do keep in mind that the interest of RBI Floating Rate Savings Bond (FRSB) is not fixed. It is linked to the interest rate of the National Savings Scheme (NSC), a small savings scheme backed by the Union government. Going by the formula, RBI Floating Rate Savings Bond will pay 0.35 per cent more than what the NSC offers.

Elon Musk now has his eyes set on artificial intelligence (XAI) On Wednesday, Musk announced the launch of a new company, xAI, in an attempt to “understand the true nature of the universe”.https://twitter.com/elonmusk/status/1679164661869182976?s=20 Musk’s entry into the AI space comes when the entire field of study is undergoing a paradigm shift following the launch of OpenAI’s generative AI chatbot ChatGPT last November. ETtech answers some key questions about Musk’s latest ventureWhat is xAI? As the name suggests, xAI is an AI company whose goal — according to the company’s website — is to understand the true nature of the universe.

HCL Technologies has inked an agreement  to buy a 100% stake in the German automotive engineering services company ASAP Group for EUR 251.1 million (about ₹2,300 crore), said the company in an exchange filing on Wednesday. As per the company's filing, the acquisition is anticipated to be completed by September 2023 through an all-cash transaction through the company's UK subsidiary, subject to regulatory approvals.

Under pressure gold miner St Barbara delivered full-year production at the top end of its forecast range for 2023.

«Inflation is a reality. I think inflation has been a reality for the last 18 to 24 months for all businesses. But I think that has not impacted us as much,» says Sushant Dash, CEO, Tata Starbucks.Has inflation impacted your business?Inflation is a reality.

FMCG retail distribution company, marking its foray into food and grocery retail market. The company did not disclose the financial details of the deal. Avendus Capital was the sole financial advisor to LYNK and its shareholders on this transaction.

Tata Consultancy Services (TCS) has taken a step by implementing a salary hike for its employees, despite the impact it will have on the company's operating margin. TCS CFO Samir Seksaria revealed that the annual salary increase, effective from April 1, would result in a 200-basis-point hit on the operating margin, which currently stands at 23.2%. Nevertheless, India's largest software services exporter is confident that improved efficiencies will help offset this impact.