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Bharti Airtel’s revenue growth was higher than larger rival Reliance Jio’s which lost 11 million subscribers, analysts said, indicating a higher resilience from the nation’s second largest telecom operator. In addition, brokerage Citi Research said it does not expect the change in leadership in Airtel which was announced Monday to be very disruptive. “This should be further supported by Bharti’s strong established credentials and our view that the peak of competitive intensity is behind us”. Market analysts said that Airtel’s user loss was mainly amongst low-ARPU (average revenue per user) subscribers, which combined with 0.8 million net additions in the postpaid user base, showed the Sunil Mittal-led operator’s success in premiumising its subscriber mix.

Krafton India, the local unit of the South Korean maker of Battlegrounds Mobile India, has become the anchor investor in IMM Investment’s maiden India fund. The IMM India Fund is an extension of IMM Investment, a multi-asset South Korean fund managing $7 billion in assets. It will focus on backing startups across sectors such as consumer technology, software-as-a-service (SaaS), fintech, gaming, media and deep tech. The fund will primarily target growth-stage companies with strong potential for an initial public offering, leveraging South Korean expertise and capital, said a company statement.

Ford’s third-quarter net profit fell nearly 26%

Bharti Airtel will decouple its Direct-to-home (DTH) business from the converged entertainment category, creating two new verticals — Connected Homes (which includes Broadband and Converged Entertainment) and DTH. Siddharth Sharma, currently CEO of DTH, will be appointed Director Marketing and CEO of Connected Homes.

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Monday recommended Ashok Chandra for the position of Managing Director (MD) and CEO of Punjab National Bank (PNB). He is currently the Executive Director of Canara Bank. He will replace Atul Kumar Goel who retires in December. The Financial Services Institutions Bureau (FSIB) interviewed 16 candidates for the position of MD & CEO of PNB, FSIB said in a statement.

And this is just the tip of the iceberg. OpenAI CEO Sam Altman recently outlined a heady vision of ‘artificial superintelligence’, one where “our children will have virtual tutors who can provide personalised instruction in any subject, in any language, and at whatever pace they need”. “If a lamplighter could see the world today, he would think the prosperity all around him was unimaginable. And if we could fast forward a hundred years from today, the prosperity all around us would feel just as unimaginable.” — SAM ALTMAN, CEO and co-founder, OpenAI, on the potential evolution we could see in the next few decades thanks to AI Given all this potential, ETPanache asked leaders what tasks they would like to automate if they could and what tasks they would hate to give up control of. Irina Ghose MD, Microsoft India

CAMS, which acts as a registrar and transfer agent for mutual funds, on Monday reported a 45 per cent rise in profit after tax to Rs 122.5 crore for the three months ended September 2024. It had a profit after tax (PAT) of Rs 84.51 crore in the same quarter of the preceding fiscal. The company's revenues from operations rose 33 per cent to Rs 365.17 in the July-September quarter of the current financial year (FY25) from Rs 275 crore in the year-ago period, the company said in a statement.

Adani Cement «achieve targeted growth ahead of time», said Adani Group Cement Business CEO Ajay Kapur in an investors' call on Monday. The Adani group, which had last week announced the acquisition of Orient Cement, aims to have a manufacturing capacity of 140 million tonnes per annum (MTPA) by FY28. «Adani Cement will benefit from accelerated growth, lower costs and good synergies, all of which will contribute to leading the market and achieving sustainable performance in the near future. The pace of capex has increased, which will help to achieve targeted growth ahead of time,» said Kapur. Ambuja Cement, part of Adani Group, which houses all cement assets, is a debt-free company and as of September 2024, cash and cash equivalent for the company was at Rs 10,135 crore, said Kapur.

Smucker’s Uncrustables could soon hit $1 billion in annual sales

The head of Volkswagen's works council says the company has informed employee representatives that it wants to close at least three plants in Germany

The recent surge in the prices was a momentum play following an escalation in the Middle East conflict, with Israel preparing to act on Iran’s missile attack. The US Fed Reserve’s interest rate cut, central banks' gold buying, upcoming US election and geopolitical risk are continuing to remain the key supportive factors for bullion prices. Investors may look for accumulation on any decline in the prices. The current market environment could be favourable for a strategic allocation in gold as an investment in the portfolio, said Tapan Patel, Fund Manager-Commodities, Tata Asset Management.

The Financial Conduct Authority fined Käärmann £350,000 for breaking senior management conduct rule four, which states: 'You must disclose appropriately any information of which the FCA would reasonably expect notice.' FCA's Nikhil Rathi: 'The jury is out on whether the FCA is helping to achieve growth' An FCA investigation into Käärmann was originally opened in 2022 after he paid a £365,651 fine to HM Revenue & Customs the year prior for deliberately failing to notify the tax office of a capital gains tax liability after he sold shares worth £10m in 2017 and was subsequently added to...

Subscribe to enjoy similar stories. Boeing’s new boss wants to return the manufacturer to its engineering roots. Starbucks’s new chief executive says the chain must embrace its own origins as a coffeehouse.

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Storch Advisors CEO Gerald Storch assesses the state of the consumer, provides his outlook for the holiday season, and reacts to the September retail sales report.

Cyient, on Monday announced the acquisition of a 27.3% stake in Azimuth AI, a fabless custom ASIC company, for a consideration of $7.25 million. The strategic investment will expand Cyient’s capabilities across the semiconductor industry, said the Hyderabad headquartered firm in an exchange filing. This is the third such M&A deal entered by Cyient this month.

Having spent almost a decade as a UK equity fund manager at Fidelity, Himsworth said «it is refreshing to return to the area, which is clearly thriving and somewhere that I genuinely see as home, and a region that I personally want to succeed». The former manager of the £358m Fidelity UK Opportunities fund joins as an investment manager following 30 years of experience within financial services including stints at Royal London Asset Management and Gartmore.  Fidelity International fund manager Himsworth departs after almost a decade McInroy & Wood's CEO Tim Wood said: «We are fortu...

Slice on Monday said it had completed its merger with North East Small Finance Bank (NESFB) with effect from October 27 after receiving all requisite shareholder and regulatory approvals. The merger will unify the operations, assets and brand identities of the two companies into a single banking entity, it said. The fintech unicorn said in a statement that the integration will pave the way for the creation of a technology-driven bank along with a strengthened financial position focused on expanding operations, enhancing risk management frameworks and improving customer experience.

President Joe Biden has slammed Elon Musk for hypocrisy on immigration after a published report that the Tesla CEO once worked illegally in the United States

Jaishankar on Sunday highlighted the significant transformations in India's foreign policy over the past decade. He emphasised the government's commitment to the welfare of the Indian diaspora and the growing opportunities for Indian businesses abroad. Sharing a post on X, Jaishankar wrote, «Pleased to address business leaders, eminent intellectuals and professionals in Mumbai today. »Spoke about a decade of transformations in India's foreign policy, our commitment to diaspora welfare and growing prospects and opportunities for Indian businesses abroad," he added.

Subscribe to enjoy similar stories. Around 2004, a rising TV executive named Dana Walden began calling politically connected friends to let them know about a hot new prospect. She wasn’t talking about a star or script.