October, 2024

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2024 Annual Corporate Directors Survey: Uncertainty and transformation in the modern boardroom

Harvard Corporate Governance

Posted by Ray Garcia, Paul DeNicola, and Catie Hall, PricewaterhouseCoopers LLP, on Sunday, October 13, 2024 Editor's Note: Ray Garcia is a Leader, Paul DeNicola is a Principal, and Catie Hall is a Director at PricewaterhouseCoopers LLP. This post is based on their PwC memorandum. Introduction Historically, a looming presidential election has had notable impacts for corporate boards and their agendas, necessitating scenario planning for potential regulatory shifts.

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How Intel Got Left Behind in the A.I. Chip Boom

NYT M&A

Intel was for decades Silicon Valley’s dominant chip company. But missed opportunities and poor execution left it on the sidelines in tech’s latest gold rush.

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Go, teams: When teams get healthier, the whole organization benefits

Mckinsey and Company

Creating effective teams depends on multiple factors, including high levels of trust and communication, and understanding team context. A new approach helps elevate performance and create value.

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Can BlackRock land private credit’s ‘big whale’ HPS?

Financial Times M&A

After years of preparation, the pioneering alternatives firm is on the verge of a deal or IPO

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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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What's Happening With AGBA Stock?

Benzinga

AGBA Group Holding Limited (NASDAQ: AGBA ) shares are trading higher Friday after the company announced that all steps have been finalized to move towards the completion of its merger with Triller Corp. The Details: The merger is expected to take place on Oct.14, subject to final Nasdaq approval, and will include a 4-to-1 reverse stock split of Agba shares.

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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

Banking 130

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The F.T.C.’s Lina Khan Took On Big Tech. Now Her Job Is on the Line.

NYT M&A

Prominent venture capitalists’ bashing of the F.T.C.’s chair is evidence of a troubled tech market.

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The art of 21st-century leadership: From succession planning to building a leadership factory

Mckinsey and Company

Complicated times demand great leaders. Here’s an overview of traits and practices required to succeed as a leader today and a look at the factory model that can help aspiring managers ascend.

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IVSC Academic Forum

IVSC

IVSC Academic Forum: Connecting Academics in Valuation The IVSC Academic Forum is a new initiative designed to bring together academics globally to shape the future of valuation standards. This forum is open to specialists in valuation and those in complementary fields such as finance, accountancy, and economics. Chaired by Mauro Bini (Bocconi University) and Frank Harrington (Technological University Dublin), the forum provides academics a voice in the evolution of International Valuation Stand

Finance 130
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Why Investment Banking? How to Answer the Most Boring But Persistent Interview Question of All Time

Brian DeChesare

“Why investment banking?” is not only one of the most common questions in interviews but also one of the most incorrectly answered ones. An older version of this article from ~15 years ago addressed this question, and you can find dozens of other articles that suggest answers. But most coverage suggests generic answers about wanting to learn a lot, liking financial analysis or valuation, or wanting to “understand different industries.

Banking 111
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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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New Ethiopian President Extends A Hand

Global Finance

Ethiopia has become the focus of attention in the turbulent Horn of Africa. Every political move in the ancient, landlocked country is closely monitored for its potential impact on the stability of a region where war drums are getting louder. This continues to be the case with the appointment last month of a new president, Taye Atske Selassie. Previously foreign minister and a seasoned diplomat, Taye replaces Ethiopia’s first female president, Sahle-Work Zewde.

Finance 119
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Navigating the Emissions Landscape: Uneven Paths to Decarbonization

Harvard Corporate Governance

Posted by Subodh Mishra, ISS STOXX, on Thursday, October 17, 2024 Editor's Note: Subodh Mishra is Global Head of Communications at ISS STOXX. This post is based on an ISS-Corporate memorandum by Kosmas Papadopoulos, Head of Sustainability Advisory-Americas; Mikiko Ollison, Vice President for Sustainability Advisory; and Rudy Kwack, Senior Associate for Sustainability Advisory at ISS-Corporate.

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Meet David Hoffmann, the Florida Billionaire Buying Up Print Newspapers

NYT M&A

David Hoffmann has already bought 5 percent of one of America’s largest newspaper companies. Now, he wants to control the whole thing.

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The role of power in unlocking the European AI revolution

Mckinsey and Company

The rise of AI is driving data center demand and shifting power market dynamics. With European demand predicted to more than triple by 2030, significant investments are needed to realize this growth.

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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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Just do it! Brand Name Lessons from Nike'sTroubles!

Musings on Markets

I have spent the last week reading " Shoe Dog ", Phil Knight's memoir of how a runner on the Oregon University track team built one of the great shoe companies in the world, in Nike. In addition to its entertainment value, and it is a fun book to read, I read it for two storylines. The first is the time, effort and grit that it took to build a business, in a world where risk capital was more difficult to access than it has been in this century, and in a business where scaling up posed significan

Start-ups 112
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Corporate Finance Jobs: Cozy Careers, But Bad “Plan B” Options

Brian DeChesare

Corporate finance jobs at normal companies are bad … …if you’re using them to break into a deal-based field, such as investment banking , private equity , or venture capital , or as a “Plan B” if you interview around but do not get into one of these. The main problem is that many people enter corporate finance jobs without truly understanding them. Corporate finance is fine if you’re in it to advance up the ladder over many years/decades while having a reasonable work/life balance.

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Bhutan: The Happiness Economy

Global Finance

Bhutan is banking on a unique mix of abundant energy, a clean environment, and wellness entrepreneurism to lure foreign investors. A constitutional monarchy of 800,000 people, Bhutan is nestled in a region that’s home to nearly 3 billion. Bordered by China to the north and India to the east, west and south, the Himalayan nation installed a new government in January under Prime Minister Tshering Tobgay, who returned to office after an earlier five-year stint that ended in 2018.

Banking 119
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Cybersecurity and Artificial Intelligence: An Increasingly Critical Interdependency

Harvard Corporate Governance

Posted by Kathleen Hamm, Public Company Accounting Oversight Board, on Thursday, October 24, 2024 Editor's Note: Kathleen Hamm is the Founder and Managing Member of Pearl Advisory Group. This post is based on her speech. I. Introduction Thank you for that kind introduction, Neil [Strauss, VP and Senior Credit Officer, Moody’s Investors Service], and thank you for inviting me to speak with you and your colleagues at Moody’s here today.

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Why Germany Is Resisting UniCredit’s Takeover of Commerzbank

NYT M&A

Despite an openness to cross-border mergers, Germany has pushed back against talk of the Italian lender UniCredit’s acquiring Commerzbank.

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What I learned from Daniel Kahneman

Mckinsey and Company

Daniel Kahneman, the psychologist whose findings helped launch behavioral economics, passed away this March. The encouraging words he shared with me offer good news for organizations.

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UK Launches Antitrust Review Of Synopsys' $34 Billion Ansys Deal Over Growing Concerns

Benzinga

The UK's antitrust watchdog has launched an investigation into Synopsys Inc 's (NASDAQ: SNPS ) $34 billion acquisition of software developer Ansys Inc (NASDAQ: ANSS ). On Friday, the Competition and Markets Authority (CMA) announced it had opened an initial phase one merger review due to potential competition concerns. The CMA has recently intensified scrutiny in the tech sector, focusing on mergers involving AI, cloud services, and chip design, Bloomberg reports.

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Top Real Estate Investment Strategies for Beginners

Trout CPA

Insights from Trout CPA's Real Estate Accountants Written by Randall Weaver, CPA , and Adam Siviter Real estate has long been one of the most popular investment options for building wealth. For beginners, the path may seem daunting, but with the right strategies, guidance, and knowledge, real estate investment can provide substantial returns over time and become a great tool for building wealth.

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US IPO Market Picks Up Steam As Election Looms

Global Finance

Offerings are bouncing back, as the upcoming US election creates opportunities and risk. The US IPO market is seeing renewed momentum as the 2024 presidential election approaches, with investors and analysts eyeing potential opportunities ahead. Last week marked the busiest period for IPOs since February, with four out of five companies successfully pricing their offerings and raising a combined $1.1 billion.

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Sustainability and ESG: Where Are We Now?

Harvard Corporate Governance

Posted by Leah Malone and Emily Holland, Simpson Thacher & Bartlett LLP, on Sunday, October 6, 2024 Editor's Note: Leah Malone is a Partner and Emily Holland is a Counsel at Simpson Thacher & Bartlett LLP. This post is based on a Simpson memorandum by Ms. Malone, Ms. Holland, Alexis Capati , Tenzin Dolkar , and Chayla Sherrod. As we near the final quarter of 2024, in a year with global temperatures looking to break new records (again), achievement of various 2025 or 2030 targets set by

Equity 250
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Washington Post C.E.O. Elevates Deal-Making to a Top Priority

NYT M&A

Will Lewis has said he has a mandate from the paper’s owner, Jeff Bezos, to grow the business, including through acquisitions.

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Gen AI in corporate functions: Looking beyond efficiency gains

Mckinsey and Company

Generative AI is already adding value for corporate and business functions. Here’s how it could add more.

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The 2024 Election’s Potential Impact on Tax Policy

Redpath

U.S. election results (and their impacts on tax policy) are always important for business owners and the broader population. However, the 2024 election’s impact on tax policy and tax strategy , along with the sunsetting provisions of the Tax Cuts and Jobs Act (TCJA), could be even more significant.

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Deal Dispatch: UFC, WWE Parent TKO Takes On Bull Riding; Endeavor Looks To Sell Tennis; Another Car Company Goes Bankrupt

Benzinga

New On The Block Ari Emanuel ‘s sports and entertainment conglomerate, Endeavor Group Holdings Inc (NYSE: EDR ), is reviewing a potential sale of IMG tennis assets — including the Miami Open and Madrid Open tennis tournaments. Most of IMG’s other assets were included in a transaction announced on Thursday with TKO Group Holdings Inc (NYSE: TKO ), the parent company of Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE).

Equity 103
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OpenAI Faces Competition From France, Japan

Global Finance

OpenAI continues to attract tons of venture capital, its accumulated take reportedly hovering at $6.5 billion most recently. And a valuation that now exceeds $150 billion might appear to give the Microsoft and Softbank-backed startup an insurmountable advantage in the generative artificial intelligence (GenAI) space. But emerging players like Paris-based Mistral AI and Tokyo-based Sakana AI are gaining ground, says entrepreneur Ilya Kulyatin, who founded Tokyo AI, a community of over 1,000 AI pr

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Gender Diversity in the C-suite: Women’s representation in the 2024 S&P 100

Harvard Corporate Governance

Posted by Margot McShane and Hetty Pye, Russell Reynolds Associates, on Friday, October 18, 2024 Editor's Note: Margot McShane and Hetty Pye are Co-Leaders of the firm’s Board & CEO Advisory Partners at Russell Reynolds Associates. This post is based on a Russell Reynolds memorandum by Ms. McShane, Ms. Pye, Tom Handcock, and Leah Christenson. In March of 2024, S&P Global published an alarming report : for the first time in two decades, C-suite women lost seats in the S&P Total Mark

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How TikTok Saved Its E-Commerce Business in Indonesia

NYT M&A

When the government effectively forced TikTok to shut down its Shop feature, the company quickly struck an unusual deal with a local company to bring it back.

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The state of retail banking: Profitability and growth in the era of digital and AI

Mckinsey and Company

As the global macroeconomic environment remains uncertain, retail banks should focus on the fundamentals of customer primacy and margin protection while embracing digital technologies and gen AI.

Banking 145
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Business Continuity Planning (BCP) Q&A: Your Questions Answered

N Contracts

A well-built business continuity plan (BCP) is critical for financial institutions. In this Q&A, we answer questions received during our Ultimate Business Continuity Q&A webinar. Read on as we address common questions on business continuity management, including regulatory expectations, best practices for testing, vendor resilience, and more to help you strengthen your BCP and ensure operational resilience.

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Rio Tinto Confirms Interest In Arcadium Lithium, Shares Surge

Benzinga

On Monday, Rio Tinto (NYSE: RIO ) confirmed that it is in non-binding talks to acquire Arcadium Lithium (NYSE: ALTM ), a major lithium miner formed from the merger of Livent and Allkem. Both companies clarified that the discussions are preliminary, and there is no certainty that a transaction will proceed. If the acquisition goes through, Rio Tinto would become one of the largest lithium producers globally, behind industry leaders like Albemarle Corp (NYSE: ALB ) and SQM (NYSE: SQM ).