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- Disney will name Bob Iger's replacement in early 2026; James Gorman to become board chair next year
Former Morgan Stanley CEO James Gorman will replace Nike Executive Chairman Mark Parker as chairman in January. - Nike renews uniform partnership with NBA, WNBA as NFL opens bidding process to competitors
Nike will be the exclusive uniform provider for the NBA and WNBA for another 12 years after the leagues extended their contract with the sneaker giant. - Chick-fil-A is releasing its own entertainment app, with family-friendly shows and podcasts
The Chick-fil-A Play app will launch on Nov. 18 with content aimed at families with kids aged 12 and under. - Lucid CEO says Wall Street misinterpreted $1.75 billion capital raise
Peter Rawlinson said the raise was a timely, strategic business decision to ensure the EV maker has enough capital for its ongoing operations and growth plans. - McDonald's tells U.S. restaurants it's not a 'political brand' after Trump visit
McDonald's said it is not endorsing a presidential candidate after Trump's visit to one of its restaurants. - The next big career track at business schools: Family offices
Top universities are launching a number of programs and courses aimed at training the next generation of family office leaders. - Boeing machinists to vote on new proposal with 35% raises that could end strike
The IAM will vote Wednesday on the new proposal which includes 35% wage increases over four years, a higher signing bonus of $7,000 and more. - Paytm Q2 Results Preview: Losses may widen YoY; revenue growth to improve
One97 Communications, which runs Paytm, is set to see increased revenue growth in the second quarter of 2024. However, its losses are likely to widen to Rs 660 crore. Despite this, losses should decrease from the previous quarter due to growth in payment services to merchants and financial services. - Balu Forge Q2 Results: Ashish Kacholia portfolio company delivers 107% YoY jump in PAT
Balu Forge Industries reported a 107% YoY rise in consolidated net profit for Q2FY25 to Rs 48 crore, driven by a 60% increase in revenue and expanded EBITDA margins. The company benefits from the China+1 strategy and is investing in new capabilities to fuel future growth. - Stable trend in financials crucial for Godavari Biorefineries
Godavari Biorefineries aims to raise Rs 555 crore through an IPO scheduled for October 23-25, 2024. The funds will be used to repay debt and for an offer for sale. The promoter stake will drop from 81% to over 63%. The company produces sugar, ethanol, and bio-based chemicals, with significant market presence in these sectors. - Rupee closes at record low of 84.0725 against US dollar on outflows, strong dollar index
The Indian rupee hit a record low of 84.0725 against the US dollar, driven by outflows from local equities and debt, and Hyundai's fund repatriation. The Reserve Bank of India's likely intervention helped limit further losses, while fluctuations in the dollar index ahead of US elections also influenced the rupee's performance. - Gold, silver hit all-time high on Diwali demand
Gold prices reached a new high of Rs 80,650 per 10 grams in the national capital. Silver also rose significantly by Rs 5,000 per kg, reaching Rs 99,500 per kg. The hike was driven by the Middle East conflict, rate cuts by the People's Bank of China, and increased demand during the festive season. - Tech View: Nifty may revisit 24,500-24,600 support, forms reasonable red candle. How to trade tomorr
Nifty's trend remains weak within a range-bound movement. After failing to maintain its recent upward bounce, the market may retest the lower levels of 24,600-24,500 in the near term, with immediate resistance around the 25,000 mark, according to Nagaraj Shetti of HDFC Securities. - Finance minister Nirmala Sitharaman calls on US investors to tap opportunities in India
Finance minister Nirmala Sitharaman urged US pension funds and institutional investors to invest in India. At a roundtable in New York, she highlighted India's strong economic growth and investment opportunities. India is projected to remain the fastest-growing major economy, with growth rates of 7% and 6.5% this fiscal and the next, respectively. - Karnataka’s GSDP at 10.2% outperforms national average of 8.2%, says CM, dismisses NSE projection
Karnataka's GSDP growth rate of 10.2% in FY 2023-24 outperformed the national average of 8.2%, amid challenges like drought and global IT slowdown. The government credited strategic governance and diversified growth drivers, despite opposition claims of stagnant growth. - India’s overall growth outlook remains strong despite temporary dip in momentum: RBI Bulletin
Slowdown likely in the second quarter of 2024-25 - Broker’s call: Raymond Lifestyle (Buy)
Motilal Oswal - Top 5 moments from PM Modi’s speech at NDTV World Summit 2024 in Delhi
- FMCG distributors body urges CCI for review of business model of quick commerce platforms
The industry body has also raised concerns about alleged practices of “predatory pricing” and “deep discounting” leading to “monopolistic tendencies” by quick commerce platforms - Adar Poonawalla acquires 50% stake in Karan Johar’s Dharma Productions for ₹1,000 crore
Karan Johar will continue to lead as Executive Chairman, overseeing the company’s creative direction, while Apoorva Mehta, CEO of Dharma, will manage the strategic and operational aspects - Broker’s call: Tata Consumer (Accumulate)
Elara Securities - How Delhi, Maharashtra and Karnataka are shelling out more direct taxes in relation to GDP
The direct tax to GDP ratio is the highest in these States due to high per capita income and lower share of agriculture in GSVA - Hisense partners with EPACK Durable to establish manufacturing facility in Andhra Pradesh
Hisense’s Sri City plant is projected to have a production capacity of 1 million room air conditioners by FY28, production to begin in June 2025 - Vikram Dev Dutt assumes charge as Coal Secretary
The Coal Ministry said on Monday that Vikram Dev Dutt, 1993-batch IAS officer of the Arunachal Pradesh-Goa-Mizoram and Union Territory (AGMUT) cadre, has assumed the charge of Coal Secretary - Unity SFB sees traction in climate and social infra lending, to launch its credit cards soon
Expands its operations in Tamil Nadu with the launch of 8 branches. Bets on growth in vendor, dealer and climate finance areas in the state. - Himanshu Pathak appointed Director-General Designate of ICRISAT
He will be the first indian to head the institute when he takes over next year - UltraTech net down 36% on lower realisation
EBITDA during the quarter was down 18 per cent at ₹2,239 crore (₹2,718 crore) and sales realisation plunged 8 per cent to ₹4,901 (₹5,349) a tonne - Afcons Infrastructure IPO price band fixed at ₹440-463 a share
The issue opens on Oct 25 and closes on Oct 29 - Stronger monsoon winds bringing more rainfall to arid regions of north-west India: Southampton varsi
The study reports 40% increase in south-west monsoon rainfall over north-west India in recent years - Baashyaam to invest ₹420 crore to develop the commercial-cum-residential property Crowne Plaza
The units in the property, which once used to be a famous hotel, will be one of the costliest in the city - Markets end lower as broader indices face selling pressure; auto sector bucks trend
The BSE Sensex slipped 73.48 points to close at 81,151.27, while the NSE Nifty declined 72.95 points to end at 24,781.10 - Gujarat 8th state to seek larger share from 16th Finance Commission: Dr Panagariya
States demand 50 per cent of tax collections be devolved to states as against the current 41 per cent. Presently, the central government takes 59 per cent of the tax revenues. - H&M announces appointment of Helena Kuylenstierna as Director for India operations
The brand said that it continues to focus on improving relevance for the Indian customers while ‘elevating both the physical and digital store experience.’ - PB Fintech subsidiary gets RBI nod to commence ‘Account Aggregator’ business
Reserve Bank of India grants ‘Certificate of Registration’ to PB Financial Account Aggregators Private Ltd , effective from October 18 - Lebanon says four dead in Israeli strike near southern Beirut hospital
Thirteen air strikes hit locations in southern Beirut on Monday evening, authorities said. - Israel still preventing humanitarian missions to north Gaza, Unrwa says
Israeli forces are besieging hospitals and shelters, medics say. The Israeli military says Hamas has regrouped in the area. - Musk is giving some US voters $1m. Is it legal?
Two voters have already picked up their lottery-style cheques for a million dollars from Elon Musk. - Putin gathers allies to show West pressure isn’t working
Russian President Vladimir Putin is welcoming more than 20 world leaders to the Brics summit. - Mega meteorite tore up seabed and boiled Earth's oceans
It was 200 times bigger than the one that wiped out the dinosaurs nearly three billion years later. - Why an Australian senator heckled King Charles
Lidia Thorpe explained why she heckled the monarch to the BBC's Katy Watson, on his second day of engagements. - Seven new lawsuits filed against Sean 'Diddy' Combs
Four men and three women accuse the hip-hop mogul of sexually assaulting them at various parties in the US. - Guilty pleas over killing of man acquitted in 1985 Air India bombings
Two hitmen entered guilty pleas of second-degree murder over the 2022 shooting in Canada of Ripudaman Singh Malik. - I’ll stand for Russian president when Putin's gone, Navalny’s widow tells BBC
Yulia Navalnaya says she will do everything she can to make Putin's "regime fall as soon as possible". - Turkish cleric accused of planning failed 2016 coup dies
The US-based cleric was the leader of an influential Islamic movement in Turkey and worldwide. - UN 'deeply concerned' Kenya returned Turkish refugees
The UN's statement follows reports that multiple Turkish nationals were abducted in Nairobi on Friday. - Mexican priest who spoke out against cartel violence killed
Father Marcelo Pérez advocated for indigenous and land rights in Mexico's southern Chiapas state. - Rising flash floods leave sheriff stranded on top of car
309 people had to be rescued after sudden flooding hit Chaves County, New Mexico - Canadians and Mexicans nervously await the US election
As Americans prepare to vote in the presidential election, Canadians and Mexicans mull the likely impact. - India’s start-ups look to villages to drive next leg of growth
Indian start-ups are shifting their focus to rural consumers, hoping to tap into a new wave of growth. - How will festive demand shape the future of India’s automobile industry?
“With the festive season and strong agricultural output, we foresee a continued upswing in two-wheeler sales, especially in rural areas.” says Shailesh Chandra, President of the Society of Indian Automobile Manufacturers (SIAM) in this State of the Economy podcast with S Ronendra Singh.