Quant Mutual Fund has reported a milestone with its assets under management (AUM) reaching an all-time high of over Rs 94,000 crore as of July 12, 2024. This achievement coincides with record net asset values (NAVs) across most of its schemes, the fund house disclosed in a recent communication to investors.
Earlier in the day, Quant Mutual Fund addressed investors via email, clarifying recent…
Chicken Soup for the Soul Entertainment has announced the closure of Redbox, marking the end of an era for the iconic DVD rental kiosk business. Following the conversion of its Chapter 11 bankruptcy to Chapter 7 liquidation proceedings, the parent company has ceased operations, leaving over 1,000 employees without jobs or severance benefits.
Redbox, known for its network of 24,000 DVD rental…
SoftBank Group, based in Japan, has acquired Graphcore, a prominent player in the AI chip market, in a move expected to redefine the landscape of artificial intelligence hardware. The acquisition, finalized for an undisclosed sum, resolves uncertainty surrounding Graphcore’s future and positions it to challenge industry leaders like Nvidia.
Graphcore, once valued at $2.77 billion by the end of…
Estee Lauder announced on Thursday that Tracey Travis, who has served as Chief Financial Officer for the past 12 years, will retire effective June 30, 2025, signaling a strategic shift amidst ongoing market challenges.
The company has already identified a successor for Travis, with the appointment expected to be announced in the coming weeks. Travis, credited for overseeing Estee Lauder’s…
On July 11, PepsiCo (PEP.O) reported second-quarter results below expectations, citing a 4% decline in sales volume at Frito-Lay North America amidst persistent challenges in consumer spending and intensified competition from private-label brands in the United States, its largest market.
Despite implementing a 5% increase in product prices to offset costs, PepsiCo experienced a 3% drop in overall…
On July 11, 2024, it was revealed that Mukul Agrawal, a renowned Indian investor known for his adeptness in microcap and smallcap stocks, has acquired a substantial stake in ASM Technologies. Agrawal’s investment, valued at Rs 107 crore, reflects his confidence in the semiconductor stock, which has surged by over 200% this year alone.
ASM Technologies, previously a penny stock trading around Rs…
Deutsche Bank AG has settled a significant legal dispute with Palladium Hotel Group, a Spanish hospitality firm, agreeing to pay €500 million ($545 million) over losses stemming from foreign-exchange derivatives sold by the bank. Palladium alleged that Deutsche Bank sold them products they didn’t fully comprehend, resulting in substantial financial exposure. The hotel chain had amassed…
India’s fintech sector has once again made waves on the global stage, securing its place among the top three most funded fintech ecosystems globally in the first half of 2024. With funding amounting to $795 million, despite a slight decline of 11% from the preceding half-year, the sector demonstrates resilience and ongoing investor confidence, as highlighted by a recent report from Tracxn, a…
The rivalry between Coca-Cola and Pepsi is one of the most legendary and enduring battles in the business world, spanning over a century of marketing maneuvers, taste tests, and global dominance strategies. What began as a friendly competition between two soft drink brands has evolved into a cultural phenomenon that continues to shape consumer preferences and industry trends today.
Origins and…
In a notable shift of fortunes, Steve Ballmer has eclipsed his former colleague and Microsoft co-founder Bill Gates to become the sixth wealthiest individual globally. This milestone, marking the first time Ballmer has outstripped Gates in wealth, underscores his substantial financial ascent since his tenure as CEO of Microsoft.
The surge in Ballmer’s wealth comes amidst a stellar performance of…
