CEO Financial News

By Olena Harmash

Cryptocurrency firm Gemini, the largest creditor of bankrupt crypto lending firm Genesis, sued Digital Currency Group (DCG) and its CEO on Friday after a dispute over a restructuring deal for the venture capital firm's troubled unit. DCG and Gemini, the two most prominent players in the crypto industry, have clashed several times over the past few months following the collapse of Genesis, which had filed for bankruptcy in January.

Elon Musk after completing his takeover bid of Twitter fired almost half of the company's 7,800 employees. The massive lay-off as a bid to induce cost cutting on the part of the Tesla chief received backlash and criciticism for being brutal.

Maritime nations agreed Friday to slash emissions from the shipping industry to net zero by about 2050 in a deal that many experts and some nations say falls well short of what’s needed to curb warming to agreed temperature limits

mid-caps and small-caps also at record highs. As per analysts, in 2023 so far, Sensex and Nifty have climbed nearly 8% each while BSE Midcap and SmallCap have added around 15% each. There is some rotation of money that is also being witnessed, said Sandip Raichura, CEO of Retail Broking and Distribution & Director at Prabhudas Lilladher .

FIFA tournaments in 2023 have been purchased by 1Stadia, a US-based firm that specializes in technological improvements in the sports and media rights industries. The broadcast deal includes FIFA Women's World Cup Australia & New Zealand 2023, FIFA Club World Cup 2023, FIFA Beach Soccer World Cup 2023, and FIFA Under-17 World Cup 2023.

Essel Group Chairman Subhash Chandra and ZEEL Managing Director and CEO Punit Goenka's petitions challenging Sebi's interim order on Monday, July 10, reported ET NOW. On June 12, the Securities and Exchange Board of India's (Sebi) in an ex-parte interim order restrained Chandra and Zee Entertainment Enterprises Ltd's (ZEEL) Goenka from holding any directorship or key managerial positions in listed entities on account of alleged fund diversion.

Jesse Powell, the co-founder and former CEO of Kraken, a prominent cryptocurrency exchange, has become the subject of a federal investigation into allegations of hacking and cyberstalking involving a non-profit organization. 

Just days after announcing its first acquisition since its latest recapitalization, Mercer Global Advisors has expanded again.

CUSO Financial Services (CFS) is to provide wealth management services to Capital Credit Union (Capital) of Wisconsin which is switching affiliation from LPL Financial.

Upcoming professional Twenty20 cricket league in the US, Major League Cricket (MLC) has signed media rights partnership in India with Viacom18 Media Private Limited’s sports network. The league, operated by American Cricket Enterprises (ACE) and sanctioned by USA Cricket, will be covered on OTT platform JioCinema and broadcast television coverage on Sports18, beginning July.

Priyanka Chopra Jonas-Richard Madden starrer "Citadel", one of the most expensive series in TV history. Ever since "Citadel" debuted, it has failed to make into 10 most-watched streaming programs in the US in any week, the report said, citing Nielsen. Amazon had launched its Hollywood studios division in 2010 and later added to the film and TV programming push by acquiring MGM Studios for $8.45 billion last year.

Premier League (IPL) title, defending champions Gujarat Titans in the final in Ahmedabad.  Apart from Dhoni, veteran all-rounder Ravindra Jadeja also played a pivotal role in CSK equalling the Mumbai Indians' record of IPL titles. His birthday wish for Dhoni is breaking the internet today.  Taking to Twitter, Jadeja said, “My go to man since 2009 to till date and forever. Wishing you a very happy birthday mahi bhai.see u soon in yellow #respect." In IPL 2023, everything went well for the Chennai Super Kings (CSK) except for the claimed rift between skipper MS Dhoni and Ravindra Jadeja.

Domestic firms continued to lead the absorption in April-June’2023 and H1 2023, accounting for a share of 43% and 46%, respectively, mainly led by flexible space operators, technology corporates and BFSI firms according to a report by CBRE. The report points out that office leasing increased by 12% Q-o-Q and touched 13.9 mn. sq. ft. during the April-June’23 period. Bangalore, Chennai, and Pune led the absorption in Q2 2023, accounting for about 59% of the transaction activity. During the quarter (April-June’23), technology companies witnessed an uptick in activity, accounting for 29% of the leasing, followed by flexible space operators (18%), engineering & manufacturing firms (17%) and BFSI corporates (17%). “India is expected to be amongst the world’s fastest-growing economies amidst a likely weakening of global macroeconomic conditions. We believe that the share of domestic firms in leasing would also remain strong during the year; at the same time, their greater emphasis on return to offices (RTO) is also expected to boost their operations,” said Anshuman Magazine, Chairman & CEO — India, South-East Asia, Middle East & Africa, CBRE. Leasing in the BFSI sector was driven by deal closures by global capability centres of BFSI corporates, Indian banks, and insurance firms. Most of these corporate are focusing on expanding their footprint.

Taylor Swift released her Grammy-winning album "Speak Now," marking a pivotal moment in her career. It was her third studio album and the first one without any songwriting collaborations, showcasing her growth as a musician and songwriter. However, the release was not without its challenges. Swift faced criticism from skeptics who doubted her ability to craft such masterful country-pop songs on her own, questioning whether a teenage idol could be responsible for such mature and introspective lyrics. Now, thirteen years later, Swift has re-released «Speak Now» as «Speak Now (Taylor's Version)» as part of her effort to regain control over her early catalog. This re-recording project was prompted by the sale of her original recordings by her former music manager, Scooter Braun. By re-recording her albums, Swift aims to assert ownership over her songs and their usage, reflecting the album's underlying theme of declaration and empowerment. The original working title of the album was «Enchanted,» derived from the power ballad of the same name. However, Scott Borchetta, the CEO of Big Machine Records, Swift's label president at the time, urged her to choose a more mature title as she was transitioning into her twenties. This transition becomes an intriguing framework for understanding «Speak Now.» Written during her late teenage years and released when she turned 21, the album captures Swift's journey into adulthood, fame, and asserting herself as an artist.

₹2,000 crore), Citadel failed to captivate the audience as expected.  Andy Jassy, the CEO of Amazon, has reportedly requested a comprehensive budget analysis for the streaming platform's major shows, including Citadel, according to Free Press Journal. Amid reports of impending layoffs affecting tens of thousands of employees, Amazon is now said to be scrutinizing the budget details of its prominent shows, including Citadel. Additionally, the media report revealed that Amazon's deal with Priyanka Chopra Jonas has not yielded significant results thus far.

MrBeast' Donaldson, renowned YouTuber and social media personality has become the first individual to amass over a million followers on Threads, the newly-launched Twitter competitor developed by Meta. The launch of this new app attracted millions of users within hours of its release. Notably, Mark Zuckerberg himself broke an eleven-year Twitter silence to endorse the platform. Impressively, MrBeast seems to have effortlessly eclipsed even the Meta CEO, in terms of follower count on Threads. He swiftly surpassed Zuckerberg after joining the platform, boasting a count well above 2 million, while the Meta CEO trails closely behind at above 1.5 million. The extraordinary feat of being the first person to achieve a million followers on Threads caught the attention of the prestigious Guinness World Records, prompting them to acknowledge the accomplishment on their social media channels. They even shared a brief clip on Twitter, capturing the exact moment MrBeast reached the milestone.

Threads as a competitor to Twitter is a game-changer. Meta, which also owns Facebook and Instagram, launched the new platform yesterday, ahead of schedule. Threads was welcomed almost immediately – especially by hordes of Twitter users that have watched in dismay as their beloved platform crumbles in the hands of Elon Musk.

Meta's Threads racked up more than 30 million sign-ups within about 18 hours of its launch, emerging as the first real threat to Elon Musk-owned Twitter, as it took advantage of its access to billions of Instagram users and a similar look to that of its rival. Dubbed as the «Twitter-Killer», Threads was the top free app on Apple's App Store in the UK and the U.S. on Thursday.

Twitter are shifting to third-party apps since the company has made verification necessary within 30 days for accessing TweetDeck, a move which industry watchers believe could give an edge to rival platforms. Since the removal of Teams feature from the Elon Musk-led app, reported outages and a number of changes announced, users have been taking to the platform to report issues of increased advertisements and appearances of blocked and muted accounts on their Twitter feed.

Elon Musk, Musk took to Twitter and responded to different threads with jabs directed at Mark Zuckerberg. In response to DogeDesigner's tweet suggesting that Meta's new app logo resembles a tapeworm, Musk humorously replied, "Metaphorically too." Meanwhile, a username Enrique, said, "no following tab on threads? uninstalled." Musk replied, by saying, “A closed source, algorithm-only system means that manipulation of what information people see is essentially undetectable." Meanwhile, Twitter responded on Thursday by threatening to sue Meta, according to the publication Semafor, citing a letter delivered to Zuckerberg by a lawyer for Twitter.