CEO Financial News

Piyush Goyal, declared that the H1B visa issue is now «a thing of the past» during a meeting at Vanijya Bhavan, New Delhi. He emphasized that the topic would no longer be a point of discussion in international dialogues, marking a shift in focus towards other areas of economic and strategic partnerships. Minister Goyal's recent visit to the United States included a two-day stay in New York, where he met with CEOs of major companies to discuss reforms initiated by the Modi government aimed at boosting foreign investments in India, particularly in the pharmaceutical and diamond sectors.

Kotak Mahindra Bank reported a 5% year-on-year rise in standalone profit to Rs 3,344 crore in the quarter ended September 2024 from Rs 3,191 crore a year ago led by a 11% rise in net interest income even as margins fell and provisions for non-performing assets increased. The bank's profit was lower than the Rs 3424 crore expected by a Bloomberg poll of analysts. Profit was helped by a 11% growth in net interest income (NII), or the difference between the interest earned on loans and that paid for deposits, led by a 17% growth in advances to Rs 4.19 lakh crore as at September 2024.

FOX Business Correspondent Madison Alworth and Kennedy Saves The World host Kennedy discuss U.S. tax structure on Making Money. 

Three large tobacco companies would pay nearly $24 billion to settle a long-running legal battle in Canada

Mira Murati, former chief technology officer at OpenAI, is raising funds from venture capitalists for her new AI startup, according to sources familiar with the matter. The new company aims to build AI products based on proprietary models, said one of the sources who requested anonymity to discuss private matters. It is not clear if Murati will assume the CEO role at the new venture. A representative for Murati declined to comment.

Struggling New York Community Bancorp said it's cutting 700 jobs at its Flagstar subsidiary as it tries to return to profitability after being rescued by investors earlier this year

Zee Entertainment Enterprises has filed a settlement application with the Securities and Exchange Board of India (Sebi) to resolve the markets regulator's ongoing investigations into alleged corporate governance lapses and financial irregularities involving the media and entertainment company's promoters. The application, submitted on Thursday without admitting or denying the allegations, is part of a process under Sebi's settlement regulations, which allow companies to reach an agreement with the regulator. This involves paying a fine or taking corrective actions in exchange for closing the probe. «It has been observed that Sebi believes that the disclosure of financial information and the business transaction in ZEEL have been dealt in a manner which may be detrimental to the investors or the securities market during the investigation period,» the company said in its settlement application.

British Airways and Air India preparing to mount new flights to capitalise on the travel boom. London is one of the most lucrative destinations for carriers connecting to India as the British capital is home to a large Indian diaspora besides being a leading tourist and business destination for Indians. British Airways operates 56 daily flights from Heathrow to Delhi, Mumbai, Chennai and Hyderabad. It will add a new daily Delhi-Heathrow flight from April next year which will augment the carrier's total flights to India to 63 per week.

home loans to spur demand for their primary retail product during the festive season. Banks, including Central Bank of India, Canara Bank, Indian Overseas Bank, Bank of Baroda and Punjab National Bank, have fully waived processing fee for the period ranging from December 2024 till March 2025, according to information on their websites. Indian Overseas Bank, which waived the processing fee for home loans, saw a 19% quarter-on-quarter increase in disbursals to Rs 1,849.67 crore in the second quarter of this financial year.

CVS Health CEO Karen Lynch has stepped down and is being replaced by David Joyner as the health care giant continues to struggle with rising costs

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Team Rubicon VP of Operations Jeff Byard describes conditions on the ground in the aftermath of Hurricane Milton on 'Maria Bartiromo's Wall Street.' 

Workers in Italy’s troubled automotive sector are holding a national strike for the first time in 20 years, with a massive demonstration being held in the center of Rome

Max Life Insurance’s India Retirement Index Study (IRIS) 4.0. Conducted in partnership with Kantar, the study shows a slight improvement in retirement preparedness, with the index rising from 47 to 49 points. Despite this, financial uncertainty continues to affect a large segment of the population. The study also shows that 31% of respondents are unsure about how much they will need to maintain their lifestyle post-retirement. This lack of clarity is a significant risk, especially as life expectancy increases.

LONDON — Cybersecurity firm Wiz is seeking to hit $1 billion of annual recurring revenues next year, the company's billionaire co-founder Roy Reznik told CNBC, adding that the firm will go public «when the stars align.»

Srini Pallia, CEO, Aparna Iyer, CFO and Saurabh Govil, CHRO, Wipro in conversation with ET Now. CFO Iyer says that their guidance is based on the visibility that they have at the start of the quarter. The guidance is impacted by furloughs, fewer working days and softness in Europe. The large deals that we won also would take some time to ramp up. So, overall, the momentum seems good. Q3 is more about seasonality and hopefully they will bounce back in Q4. CEO Srini Pillai further says net-net, right now the BFSI segment is positive. He cannot predict what is going to happen in six months and six quarters from now, but as of now, they are seeing good momentum in that sector. What would you call the highlight for the second quarter and how would you rate the current demand environment? Srini Pallia: First, specifically in Q2, three of our four markets have sequentially grown, which is good news. In terms of sectors, we had two of them growing sequentially, two of them growing year on year, and of course we had manufacturing and energy and utilities which have sequentially de-grown. But in the context of the overall market, I see momentum picking up, especially in Americas for us, both Americas 1 and Americas 2, and also APMEA.

Google said on Thursday it will move the team behind the Gemini app to its artificial intelligence research lab DeepMind as the search giant looks to streamline its structure and better position itself in the generative AI race. The shift «will improve feedback loops, enable fast deployment of our new models in the Gemini app,» CEO Sundar Pichai said in a blog post. Gemini is Google's most advanced AI technology, developed by DeepMind. The Gemini app is the direct consumer interface to the latest Gemini models.

Andrew Holland, CEO, Avendus Capital, says it will be a margin story this earning season and the talk is on the pressure on margins and how that can be relieved. Holland does not think there is anywhere to hide at the moment. One can only hide in a bit of cash. So, increasing cash levels for the next few months would not be a bad idea given that earnings are not going to help. We have got the US elections and geopolitical problems plus, China is expected to do another stimulus. All of that plays badly for India in the short term. Did you anticipate this kind of carnage on Bajaj Auto post its numbers? Andrew Holland: It was not the numbers per se, it was more the commentary, wasn’t it? Whilst the festive season has picked up a little bit, it is nowhere near anyone's expectations. So, it has really thrown a damper on the whole market because we are all hoping or the market was hoping that the festive season would start to see a pickup in consumption and that is clearly not likely to happen now. On top of that, we anyway expected a weak earning season across the board. The market valuations does not support downgrades whether it is a company or the sector or the market overall. If the earnings continue like this, we could see another 5% correction from here.

Wipro will be in focus on Friday following IT major's July-September quarter earnings where the company reported a 21% jump in net profit to Rs 3,209 crore for the quarter ended September 2024 versus Rs 2,646 crore logged in the year-ago period. The figure was higher than ET Now poll estimates of Rs 3,050 crore. Revenue from operations in the reported quarter stood at Rs 22,302 crore, marginally lower over Rs 22,516 crore posted in the corresponding quarter of the previous financial year.

Subscribe to enjoy similar stories. Bengaluru: Infosys Ltd’s latest quarterly revenue has helped it reclaim the position of India’s second-largest IT services firm, 14 years after Cognizant Technology Solutions Corp. raced ahead of Infosys.

PPG Industries plans to lay off about 1,800 employees amid efforts to cut costs, with the paints and coatings maker also inking a deal to sell a sizeable chunk of its architectural business