Tue.Oct 08, 2024

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A Diverse View on Board Diversity

Harvard Corporate Governance

Posted by Vyacheslav Fos (Boston College), Wei Jiang (Emory University), and Huasheng Nie (UCLA), on Tuesday, October 8, 2024 Editor's Note: Vyacheslav Fos is a Professor of Finance at Boston College Carroll School of Management, Wei Jiang is the Asa Griggs Candler Professor of Finance at Emory University’s Goizueta Business School, and Huasheng Nie is a PhD candidate in Finance at UCLA Anderson School of Management.

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Africa’s Chinese Trade Tie-Up

Global Finance

China continues to dominate trade with the continent. But overlending—and US initiatives to extend its security and investment footprint—are challenging its position. China solidified its position as Africa’s largest bilateral trading partner last year, as trade with the continent reached a record $282.1 billion, up 1.5% from 2022. But a 7.5% surge in Chinese exports, to $173 billion, was not matched by imports from Africa, which fell by 6.7% to $109 billion, widening Africa’s trade deficit wit

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Technology Leadership in the Boardroom: Driving Trust and Value

Harvard Corporate Governance

Posted by David Kenny and Nora Denzel, NACD, on Tuesday, October 8, 2024 Editor's Note: David Kenny is an Executive Chairman at Nielsen, and Nora Denzel is a Lead Independent Director at AMD and Board Member at NACD. This post is based on a report of the NACD Blue Ribbon Commission. Each year, NACD leverages the perspectives and experience of its members and appoints a Blue Ribbon Commission, an experienced collective of directors, investors, subject-matter experts, and leading governance profes

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Data-Driven Policy Decisions: Q&A With Philippines Central Bank Governor Eli Remolona

Global Finance

Global Finance magazine interviewed Philippines Central Bank Governor Eli Remolona, who earned an “A–” grade in the magazine’s 2024 Central Banker Report Cards. Remolona talks about the country’s early decision on cutting rates, its credit growth, and its pursuit of sustainable economic development. Global Finance : What is the Philippines economic growth outlook for 2024-25?

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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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SEC Enforcement Sweep Picks up Multiple Companies and Insiders with Late Filings

Harvard Corporate Governance

Posted by Cydney Posner, Cooley LLP, on Tuesday, October 8, 2024 Editor's Note: Cydney Posner is Special Counsel at Cooley LLP. This post is based on her Cooley memorandum. Can we call it a year-end tradition yet? It’s almost the end of the SEC’s fiscal year, and, as it did last year around this time, the SEC has just announced a big Enforcement sweep of multiple companies and some individuals—23 in total—for failing to timely file Section 16(a) short-swing trading reports (Forms 3, 4 and 5)

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EXCLUSIVE: Cannabis Rescheduling Is Not Cure-All For Industry Problems: Experts Explain How Tax Tactics Could Hurt Marijuana Businesses In Long Run

Benzinga

Rescheduling is "not a Panacea to all the problems of the industry" and would not make the issue of oversaturation and lack of investor capital go away, Frank Segall, co-chair of cannabis practice at Blank Rome , told the crowd gathered at the Benzinga Cannabis Capital Conference in Chicago on Tuesday. He was part of the panel, “Consolidation Trends in the Wake of Cannabis Rescheduling: Identifying Winners and Losers.” While it would impact positively the balance sheets of many opera

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What are sustainable fuels?

Mckinsey and Company

Sustainable fuels are made from renewable materials instead of from fossil fuels. They include biofuels made from organic matter, so-called green gasoline, and hydrogen-based fuels.

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FinCEN announces four extensions

LaPorte

The Financial Crimes Enforcement Network (FinCEN) has announced the issuance of four notices extending the deadline for filing Reports of Foreign Bank and Financial Accounts… The post FinCEN announces four extensions first appeared on LaPorte.

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Uday Shankar on India’s media and entertainment evolution

Mckinsey and Company

The incoming vice-chair of what is set to become India’s largest media and digital entertainment company looks back on a decades-long career, and what lies ahead for the sector and India.

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Chevron in talks to sell Texas gas assets to Tokyo Gas for up to $1bn

Financial Times M&A

A deal would bolster Japanese group’s drive to secure supplies for its home country, which relies on fossil fuel imports for energy

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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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Operational Risk for Financial Institutions: A Comprehensive Guide

N Contracts

From cybersecurity and product and service innovations to third-party risk and human error, financial institutions are navigating an increasingly complex environment – one where operational risk poses a fundamental threat to safety and soundness.

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Speeding up scientific research with AI: Interview with Anna Koivuniemi, Head of Google DeepMind Impact Accelerator

Mckinsey and Company

Anna Koivuniemi of Google DeepMind explores how AI can revolutionize industries, benefit society, and drive scientific breakthroughs, while emphasizing the critical need for safety and responsible use.

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How to use the Buying a Business Planning Sheet to assess options

JPAbusiness

The JPAbusiness Buying a Business Planning Sheet is designed to help you work out whether a business you are considering buying fits you and your risk profile. There are plenty of good businesses out there, but the key to a successful business purchase is finding a business that will be ‘good’ for you. When assessing different businesses, the planning sheet prompts you to consider 15 questions , including: Why will you succeed in this business?

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The McKinsey Crossword: Equal Opportunity | No. 201

Mckinsey and Company

Sharpen your problem-solving skills the McKinsey way, with our weekly crossword. Each puzzle is created with the McKinsey audience in mind, and includes a subtle (and sometimes not-so-subtle) business theme for you to find. Answers that are directionally correct may not cut it if you’re looking for a quick win.

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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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Seven & i shares jump after Couche-Tard signals willingness to pay 20% more

Financial Times M&A

Canadian company’s non-binding $47bn offer to owner of 7-Eleven chain comes after initial approach was rejected

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Ares Doubles Down: $3.7B GCP International Buyout To Supercharge Global Real Estate Portfolio

Benzinga

Ares Management Corporation (NYSE: ARES ) shares are trading lower after the company disclosed a deal to acquire GCP International in a transaction valued at $3.7 billion. The deal involves around $1.8 billion in cash and about $1.9 billion in Ares Class A Common Shares, subject to customary adjustments. The acquisition includes long-term performance incentives to align GCP International’s leadership with the interests of fund clients and Ares stockholders.

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A Commerzbank takeover? Some Mittelstand executives say why not

Financial Times M&A

In contrast to Berlin’s stiff opposition, many family-owned businesses are pragmatic about a bid by UniCredit

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Ciena Stock Powers the AI Cloud Boom—Don't Miss Out

Benzinga

Ciena Co. (NYSE: CIEN ) can be considered a legacy company in the computer and technology sector when it comes to the Internet. It was one of the original manufacturers of optical fiber, which provided networking switches and connectivity solutions since 1992. The company has managed to stay relevant, unlike so many internet boom companies, and remains on the cutting edge of the artificial intelligence (AI) revolution.

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Africa’s Tax Deficit

Global Finance

African governments are not collecting enough taxes to fuel their development plans. Ideas for making up the difference abound; implementing them is not so easy. Africa is struggling to change tax structures that fail to bring in sufficient revenue, that leave too many potential taxpayers outside the net, and that allow too much revenue leakage due to corruption.

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Honeywell Seeks To Simplify Structure, Boost Flexibility With $10B Spin-Off Of Advanced Materials Unit

Benzinga

On Tuesday, diversified manufacturing and technology company Honeywell International (NASDAQ: HON ) announced its plan to spin off its Advanced Materials business into an independent, U.S. publicly traded company. The Wall Street Journal first reported the tax-free separation. “Through the powerful combination of strategic bolt-on acquisitions and subtractions of high quality but non-core business lines, we continue to enhance our portfolio mix and further tighten Honeywell’s alignme

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Dilemmas And Opportunities In African Climate Finance

Global Finance

Lenders remain cautious about backing risky climate projects. But blended finance deals are helping to open up opportunities in areas like renewable energy. Finding solutions to an ever-expanding climate crisis is a global dilemma, but especially in Africa. Despite contributing just 4% to global greenhouse gas emissions, the continent is disproportionately impacted by global warming.

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Four actions to improve Medicaid contact center performance

Mckinsey and Company

Surging call volumes, staff shortages, and dated technology challenge constituents as they try to secure benefits. Medicaid agencies are under pressure to improve customer experience and operations.

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Activist Elliott says its long-term view on Anglo American is ‘very much intact’

Financial Times M&A

Hedge fund’s partner Nabeel Bhanji says BHP approach during its stake building was ‘genuinely annoying’

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Strategies for Growing a Business to Maximize Business Value

Peak Business Valuation

As a business owner, knowing how to grow a business is essential for long-term success. Finding the right solutions can make all the difference if a business is stuck in a rut. In this article, we review key strategies for growing a business. These strategies will help strengthen its foundation, maximize business value, and drive sustainable growth.

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Ares bolsters real estate business with $5.2bn takeover

Financial Times M&A

GLP Capital deal will add $44bn in assets to private investment group’s business

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M&A Tip: Navigating the Sale of Your Founder-Owned Enterprise

Exit Strategy

For founder- and family-owned businesses, deciding to sell is much more than a financial decision. Its a pivotal moment that marks the culmination of years, often decades, of dedication and hard work. The timing decision involves personal and market factors that can significantly influence the outcome of a sale. Understanding the right moment to sell […] The post M&A Tip: Navigating the Sale of Your Founder-Owned Enterprise appeared first on Exit Strategies Group, Inc.

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FuboTV Rips Fox Attempt To Transfer Sports Streaming Fight

Law 360 M&A

Fox wants the New York federal judge overseeing the lawsuit accusing it, ESPN and Warner Bros. of trying to run a rival out of business with a joint sports streaming venture to lop off the claims against it and ship them to California, but plaintiff FuboTV says Fox is trying to "forum shop mid-case.

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M&A Glossary: Caps and Baskets

Exit Strategy

Indemnity caps and baskets are key terms in business purchase agreements that relate to the seller’s indemnification obligations for any breaches of representations and warranties made by the seller. Cap The cap is the maximum amount of damages that the seller will be obligated to pay to the buyer for breaches of reps and warranties. […] The post M&A Glossary: Caps and Baskets appeared first on Exit Strategies Group, Inc.

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Albertsons Exec Says No-Poach Deal Never Happened

Law 360 M&A

An Albertsons labor executive Tuesday attempted to rebut Colorado's accusations that the company worked together with Kroger even before its proposed merger to not compete for workers or customers during a 2022 strike, saying any agreements were internal and had nothing to do with Kroger.

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Inflation Warrior: Q&A With National Bank of Denmark Governor Christian Kettel Thomsen

Global Finance

Global Finance magazine interviewed National Bank of Denmark Governor Christian Kettel Thomsen, who was one of only three central bankers in the world to earn an “A+” grade in the magazine’s 2024 Central Banker Report Cards. Thomsen explains how Denmark pushed inflation to 1.5% and answers whether the country’s pharma industry is “too big to fail.” Global Finance: Denmark’s inflation rate has dropped significantly from a high of 10% in late 2022 to stabilizing below 1.5% this year.

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Chancery OKs $9.75M In Atty Fees For SPAC Stock Drop Suits

Law 360 M&A

Settlements and attorney fee rulings closed the book Tuesday on two GigCapital-related blank check deals that settled before trial in Delaware's Court of Chancery, with a vice chancellor approving combined public stockholder payouts and fee awards of $7.25 million and $2.5 million.

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3 Blue Chip Opportunities the Market Overlooked—Now's Your Chance

Benzinga

The stock market's insatiable appetite for high-growth stories often leaves a trail of undervalued opportunities in its wake. Blue-chip stocks are the corporate world's stalwarts and frequently get overshadowed by the allure of the latest market darlings. This creates a unique opportunity for investors seeking stability and consistent returns, offering the potential for capital appreciation and attractive dividend yields.

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Cleveland-Cliffs Gets DOJ Nod For $2.5B Stelco Deal

Law 360 M&A

Steel manufacturer Cleveland-Cliffs Inc. revealed on Tuesday that it had cleared an important regulatory hurdle in regard to its $2.5 billion deal to purchase Canadian steelmaker Stelco Holdings Inc. with the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

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Dispatch from the Fed

Auto Dealer Valuation Insights

Fed Chair Jerome Powell addressed the National Association of Business Economists conference in Nashville last week, and we — despite not being trained economists — were on hand. In this week’s post, we provide a brief summary of our impressions and a few thoughts for family business directors. Should family business directors care about what the Fed does?

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