Mon.Dec 18, 2023

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Does Paying Passive Managers to Engage Improve ESG Performance?

Harvard Corporate Governance

Posted by Marco Becht (Université libre de Bruxelles) and Kazunori Suzuki (Waseda University), on Monday, December 18, 2023 Editor's Note: Marco Becht is Professor of Finance at the Solvay Brussels School of Economics and Management (ULB), and Kazunori Suzuki is a Professor at Finance at Waseda University. This post is based on a recent paper by Mr.

Finance 221
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Five big shifts shaping a new world for corporate and investment banks

Mckinsey and Company

Macroeconomic, technological, regulatory, market structure, and product changes mean corporate and investment banks must take new approaches to tackling the opportunities and challenges ahead.

Banking 137
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Trending Sources

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Monsanto Should Pay $857 Million in P.C.B. Case, Jury Finds

NYT M&A

Students and parent volunteers from a school in Washington State said in a lawsuit that they had become sick after being exposed to chemicals known as P.C.B.s. that had dripped from light fixtures.

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Climate Transition Impact Framework: Essential elements for an equitable and inclusive transition

Mckinsey and Company

This framework seeks to provide an initial approach at quantifying the socioeconomic impacts of climate action. A roundtable with more than 40 climate leaders at COP28 underscored the need for this lens.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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SoftBank-Backed Improbable Sells Off Metaverse Gaming Arm For $97M To Keywords Studios

Benzinga

In a significant move in the gaming industry, Improbable , a British metaverse company, has divested its gaming division, The Multiplayer Group (MPG) , to the Ireland-based video game developer, Keywords Studios for $97 million. The deal was sealed on Sunday as reported by CNBC. Keywords Studios, a video gaming giant with more than 70 studios across the globe, has been on an aggressive acquisition spree.

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Roadwork ahead! Commercial vehicles face new go-to-market challenges

Mckinsey and Company

As shifting customer preferences, innovative business models, and new entrants transform commercial vehicle sales, OEMs must change with the times.

More Trending

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How to reignite growth through adjacencies

Mckinsey and Company

Advanced-industries companies that enter adjacent markets with the right approach can outgrow and outperform their peers.

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Empowering entrepreneurs: top takeaways from FounderMetrics

Vested

FounderMetrics podcast series one: the highlights. Dive into business metrics and a lot more besides with Vestd founder Ifty Nasir and special guests.

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U.S. Steel Bought by Japanese Rival, Ending Long Takeover Saga

NYT M&A

The $14.1 billion deal comes after months of uncertainty about the future of the century-old steel maker.

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Comment on AVMs… Garbage In, Garbage Out by Baggins

Appraisers Blog

[link] I keep seeing Open Door losses when I’m looking at property records. If we’re able to sell, I’m calling OpenDoor for an over market value based strictly on avm’s and not appraisers. What a deal. However, now that they’re partnering with zillow, guess who’s going to have a new motivation to provide artificially lower, rather than artificially higher housing prices… Playing the residential housing like stock markets.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Nippon Wins US Steel Bidding Battle With $14.9B Deal

Law 360 M&A

Milbank and Wachtell-advised U.S. Steel on Monday agreed to be sold to Japan's Nippon Steel Corp., represented by Ropes & Gray, in a $14.9 billion deal that ends a monthslong battle in which multiple suitors sought to buy U.S. Steel.

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Galaxy Digital Considers Buying More Assets From Distressed Or Bankrupt Companies

Benzinga

Galaxy Digital , a cryptocurrency group led by U.S. billionaire Mike Novogratz , is actively seeking to acquire more assets from bankrupt digital asset companies. This strategy follows their successful deal involving the sale of coins held by the failed crypto exchange FTX (CRYPTO: FTT ), which significantly increased their funds under management. In August, Galaxy was appointed by FTX's administrators to manage the sale, hedging, and staking of FTX's Bitcoin (CRYPTO: BTC ) and Ether (CR

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Adobe, Figma Kill $20B Deal After Regulators Cast Doubts

Law 360 M&A

Adobe Inc. and Figma Inc. said Monday they have mutually agreed to terminate their roughly $20 billion merger agreement, squashing one of the largest recent software-related M&A deals after U.K. regulators said last month that the merger could harm innovation.

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How Too Much Trust Can Erode Internal Controls

Gross Mendelsohn

There’s a fine line regarding trust in a workplace environment. Too little trust in employees can diminish effective communication, increase conflict and decrease loyalty. But on the flip side, too much trust could create an opportunity for a key employee to defraud your organization, no matter what internal controls you have in place. Let’s look at how trust impacts the effectiveness of internal controls and different ways you can protect your organization, including a real-life case study.

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Illumina To Divest Grail After 5th Circ. Ruling

Law 360 M&A

Biotech company Illumina said it will divest cancer testing firm Grail despite a U.S. appellate court vacating an order that had forced Illumina to unwind the $8 billion deal, amid opposition on both sides of the Atlantic to the tie-up.

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Comment on Another ‘Bad’ Word to Avoid! by Baggins

Appraisers Blog

In reply to Dave. [link] Related. Blame the woke educators for instilling these beliefs in an entire generation of vulnerable American youth. Critical race theory just hit your desk. I miss Norm.

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Why Steel Giant U. S. Steel Shares Are Soaring Today

Benzinga

United States Steel Corp (NYSE: X) shares are soaring higher by around 28% following the news of its acquisition by Nippon Steel Corp (OTC: NISTF ) for $14.1 billion-plus debt, with a total enterprise value of $14.9 billion. The acquisition price of $55.00 per share represents a 40% premium to X's closing stock price on December 15, 2023. Recently, there were several reports that the company reportedly received multiple bids in excess of $40 a share.

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Indonesia’s green powerhouse promise: Ten big bets that could pay off

Mckinsey and Company

By identifying and acting on the opportunities on the road to net zero, Indonesia could—with ten strategic initiatives—ensure a secure, green, and sustainable future.

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Comment on Another ‘Bad’ Word to Avoid! by Dave

Appraisers Blog

In reply to Dave. YOU’RE NOT GOING TO BELIVE FOLKS, BUT I WAS JUST ASKED TO REMOVE THE WORD MASTER BEDROOM FROM MY REPORT. WE HAVE NOW REACHED CRAZY LAND.

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Anne Finucane on carbon credits, nature, and the path to net zero

Mckinsey and Company

Anne Finucane, former vice chair of Bank of America and current chair of Rubicon Carbon, shares her take on how financial institutions are addressing climate change and where carbon credits fit in.

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Adobe Scraps Its $20 Billion Takeover of Figma

NYT M&A

Adobe will pay a $1 billion breakup fee to the design software maker, amid greater antitrust scrutiny of mergers.

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Creating a more competitive Europe: A call to action

Mckinsey and Company

To sustain Europe’s future growth, energy transition, and quality of life, the region must become more innovative, more competitive, and invest in technology and artificial intelligence to do this.

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Are You Ready For Year-End Inventory Counts?

Machen McChesney

As year-end approaches, it’s time for some calendar-year businesses to perform physical inventory counts. This activity is more than a time-consuming chore; it’s an opportunity to improve your company’s operational efficiency. Here are some best practices as you prepare to count your inventory, as well as guidance on how to get more from these counts.

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High five: Scrolling through 2023

Mckinsey and Company

From CEO mindsets to employee development to decoding Gen Z, here’s a curated list of five big ideas that resonated with Five Fifty readers this year.

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Adobe, Figma End $20B Merger: What's Behind the Abrupt Decision?

Benzinga

Adobe Inc (NASDAQ: ADBE ) and Figma mutually agreed to terminate their previously announced $20 billion merger agreement , originally shared on September 15, 2022, under which Adobe decided to snap Figma for a mix of cash and stock consideration. Adobe and Figma have decided to call off their deal after concluding that obtaining the required regulatory clearances from the European Commission and the U.K.

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A Former Bankruptcy Judge Talks 2023 High Court Rulings

Law 360 M&A

In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.

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Farfetch Gets $500 Million Lifeline From Coupang

NYT M&A

The luxury e-commerce platform will narrowly avoid bankruptcy after the emergency funding from South Korea’s answer to Amazon.

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Client Says Firm's $3M Liability Is Clear, No Trial Needed

Law 360 M&A

A Florida investment company suing Cohn & Cohn over the disappearance of $3 million placed in escrow with the Illinois law firm told a federal judge that no jury damages trial is needed on three claims on which liability has already been decided in the company's favor.

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Adobe and Figma end proposed $20bn merger

Financial Times M&A

Mutual decision comes after EU and UK regulators launched competition probes

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Adobe drops $20bn takeover of Figma after EU and UK regulator concerns

The Guardian M&A

UK’s CMA said deal would threaten competition in the product design, image editing and illustration markets Adobe has abandoned its $20bn (£15.8bn) takeover of its smaller rival Figma , after European and UK regulators raised concerns that it would eliminate competition in the product design software market. The Photoshop owner, which dominates the market with products including Illustrator and Acrobat Reader, said the two companies had come to a joint assessment that there was “no clear path” t

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Nippon Steel agrees to buy US Steel for $14.9bn

Financial Times M&A

Japanese company targets American market with biggest ever acquisition

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Are You Ready for SAS No. 145?

Trout CPA

The new Statement on Auditing Standards (SAS) No. 145, contains several changes of which auditors need to be aware. Read here.

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India’s Tata sets sights on food and drink deals

Financial Times M&A

Owner of Tetley tea wants to acquire brands that can grow internationally as well as within the country

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Analytics Cloud Platform Company Alteryx Goes Private In $4.4B Deal: Details

Benzinga

Alteryx, Inc. (NYSE: AYX ) has agreed to be acquired by private equity firms Clearlake Capital Group, L.P., and Insight Partners for ~$4.4 billion, including debt, to transition into a privately held entity. Under the agreement, shareholders of Alteryx will receive a cash payment of $48.25 for each share. This offer marks a substantial 59% premium over the.