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Brian Niccol, the chairman of Chipotle Mexican Grill, has been appointed as the new CEO of Starbucks as of August 13, 2024. Niccol will conclude his tenure as CEO of Chipotle on August 31, 2024. Howard Schultz, the former CEO of Starbucks, expressed his support for Niccol’s appointment, stating that Niccol has his “respect and full support.” Laxman Narasimhan, the outgoing CEO of Starbucks, will be leaving both his position and the Starbucks board after joining the company in 2023. During Narasimhan's time, Starbucks experienced a 3 percent decline in global sales at stores open for at least a year, according to a CNN report. In contrast, Chipotle saw an 800 percent revenue growth while under Niccol's leadership, as highlighted by the same report.

The Parliamentary Budget Officer released a report last week that estimated the federal government will raise $17.4 billion in extra tax revenues over the next five years as a result of the proposed capital gains inclusion rate increase to two-thirds from 50 per cent. The federal budget, however, estimated the increase would raise $19.3 billion over that time frame. That $1.9-billion difference, or 9.8 per cent, is material.

Apollo Hospitals on Tuesday reported a 83% year-on-year (YoY) jump in net profit to Rs 305 crore in Q1FY25, led by growth across hospital, diagnostics, specialty and pharmacies businesses. The company reported net profit of Rs 167 crore in the corresponding quarter of the previous year.

Chamundeshwari Kshetra Development Authority Act of 2024. The High Court had temporarily stayed the implementation of the Act, after a member of the erstwhile Mysuru royal family — Pramoda Devi Wadiyar — challenged its legality. Passed in February, the Act aims to provide for the constitution of an independent statutory authority to undertake the work of «development and maintenance» of 'Shree Chamundeshwari Kshethra'. «We will try to vacate the High Court stay legally,» Siddaramaiah told reporters in Koppal district in response to a question on the High Court stay.

Hindenburg dropped a bomb last week accusing the chairperson of Secutiries and Exchange Bureau of India (Sebi) Madhabi Puri Buch and her husband of investing in offshore funds which was used by two Adani associates to round-trip funds and inflate stock prices. Amid the row, industrialist Harsh Goenka has a funny take on this. He shared a funny video showing how a man pretends to spike one's drink to manipulate the other person. Goenka wrote, «Understand in a simple way how Hindenburg works.»

B. Riley Financial Inc., the embattled investment firm, is struggling to value its assets after months of concern about flawed accounting and a federal investigation culminated in a 52% one-day plunge.

Stocks rose and bond yields fell after the latest US inflation data reinforced speculation the Federal Reserve will be able to deploy its widely anticipated interest-rate cut in September.

stocks of top IT companies after their June quarter financial performance seems to have waned. The stocks of Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro, Tech Mahindra, and LTIMindtree have lost between 3% and 6% in August so far driven by market volatility and mounting uncertainty over the demand form the US, a major market for Indian IT sector. Some of these companies had gained in double digits on bourses in June after showing early signs of improvement in project ramp ups. However, their post-result management commentary continued to be cautiously optimistic despite a sustained trend in deal wins during the quarter amid lack of a marked change in the clients’ approach towards budget allocation.

Mint in an interview in New Delhi. “We have to just stay focused on that and not sort of get caught up in all the noise and people's opinions." Boeing reported a net loss of $1.44 billion in the June quarter, primarily due to major cash burn in its defence, space and security unit as a result of cost overruns. It reported a loss of $149 million a year earlier.

For the six months ending 30 June 2024, the firm generated £3.5bn in gross inflows, with net flows remaining positive. The company's cost management and growth in operating income also contributed to a rise in adjusted EBITDA, which amounted to £103.9m. Evelyn Partners private equity owner Permira mulls sale of majority stake — reports Evelyn Partners said its AUM increased 13.3% year-on-year, marking a 5.2% rise since December 31, 2023. The company said positive market movements, and a strong investment performance contributed £2.6bn to the increase in AUM, compared to £100m in H1...

Ukraine’s top military commander says his forces now control 1,000 square kilometers (386 square miles) of Russia’s neighboring Kursk region, the first time a Ukrainian military official has publicly commented on the gains of the lightning incursion that has embarrassed the Kremlin.

Maharashtra Chief Minister Eknath Shinde collided with each other in Jalgaon district. The convoy, which also included Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, was en route when the mishap occurred, police officials said. The incident took place near Kusumba airport, causing significant damage to one of the police cars. However, no injuries were reported, and the Chief Minister and the Deputy Chief Ministers were unharmed. «One of the police cars was badly damaged, but thankfully, there were no casualties or injuries in the incident,» the official added.

The minority Hindu population has faced vandalisation of their business and properties and devastation of Hindu temples in the students' violence that ensued for days following the ouster of prime minister Hasina, who soon fled to India on August 5. The Alliance's press conference took place on the same day as Nobel laureate Muhammad Yunus, who took charge as Chief Advisor of the interim government on August 8, reached out to the distressed Hindu community members at the famous Dhakeshwari Temple here earlier in the day and urged the people to «exercise patience» before judging his government's role.

bank helped avert a fall to the key psychological support level of 84 to the dollar. The rupee closed at 83.97, nearly unchanged from its close at its all-time low of 83.9725 in the previous session.

Sanjoy Roy, who was arrested for the rape and murder of a woman doctor in Kolkata. Roy, a 33-year-old civic volunteer with the Kolkata Police, was found to have a troubling history of violent behaviour and disturbing addictions. According to the police, Roy was reportedly addicted to violent and disturbing pornography, as revealed by the content discovered on his mobile phone. «The pornography content in his mobile phone was quite disturbing and violent. We wonder about the state of his mind as watching such things is quite unnatural,» a police officer told PTI. Roy's background paints a picture of a man with a deeply troubled past. Since joining the Kolkata Police as a civic volunteer in 2019, Roy had been married at least four times, with a reputation as a womaniser. He had a history of physically abusing his wives, and neighbours often reported hearing fights from his home. His first wife was from Behala, his second from Park Circus, his third from Barrackpore, and his fourth from Alipore.

State Street Corporation has announced a new head of Investment Services, its largest business.

“Watching business channels on mute is key to my success," claims a 13-year-old self-proclaimed “world’s youngest successful options trader" on financial influencer Vivek Bindra’s YouTube channel.

Euphoria in the stock market has prompted scores of new investors to scour the internet for stock tips, giving rise to a host of illegal stock advisory channels. Despite the booming demand, only 1,371 entities are officially registered with Sebi as research analysts (RAs). In response, the markets regulator has proposed relaxing the rules for becoming an RA.

AssetMark is looking to expand its influence in the wealth tech space by helping advisors tap a flourishing opportunity in financial planning for their clients.

Global oil markets are poised to swing from a deficit to a surplus next quarter should OPEC+ proceed with plans to boost supplies, data from the International Energy Agency showed.

Global oil-demand growth is still forecast to slow to under a million barrels a day this year and next, with a continued slowdown in Chinese consumption weighing on the outlook, the International Energy Agency said. The Paris-based organization estimates that global demand will grow by 970,000 barrels a day this year and by 953,000 barrels a day the next—marginally lower than previous estimates of 974,000 and 979,000 barrels a day.