Sat.Jan 14, 2023 - Fri.Jan 20, 2023

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Diageo buys Don Papa rum brand for initial €260mn

Financial Times M&A

Distiller to potentially pay additional €178mn subject to performance

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Federal Reserve Proposes Climate Risk Guidance for Large Financial Institutions

Harvard Corporate Governance

Posted by Nicola Higgs, Betty M. Huber, and Arthur S. Long, Latham & Watkins LLP, on Saturday, January 14, 2023 Editor's Note: Nicola Higgs , Betty M. Huber , and Arthur S. Long are Partners at Latham & Watkins LLP. This post is based on a Latham memorandum by Ms. Higgs, Ms. Huber, Mr. Long, Pia Naib , Anne Mainwaring , and Deric Behar. On December 2, 2022, the Board of Governors of the Federal Reserve System (Federal Reserve) published proposed Principles for Climate-Related Financial R

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Susan DuRoss to lead the IVSC Standards Review Board

IVSC

IVSC is pleased to announce that Susan DuRoss has been appointed the new Chair of the Standards Review Board (“SRB”). Susan will take up the role in March 2023 and takes over from Mark Zyla who has led the board since 2017. Susan is Executive Director, Global Valuations, at Harvest Investments and has been a member of the SRB since October 2018. She will oversee the work of the Board for an initial three-year term.

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What is generative AI?

Mckinsey and Company

Generative artificial intelligence (AI) describes algorithms (such as ChatGPT) that can be used to create new content, including audio, code, images, text, simulations, and videos. Recent new breakthroughs in the field have the potential to drastically change the way we approach content creation.

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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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Shiba Inu Edges Out Litecoin As 13th Biggest Crypto With 19% Surge

Benzinga

Shiba Inu (CRYPTO: SHIB ) surpassed Litecoin (CRYPTO: LTC ) to become the thirteenth largest cryptocurrency by market capitalization early on Wednesday. What Happened: At the time of writing, SHIB’s market cap stood at $6.9 billion, while Litecoin’s market cap was at $6.3 billion. Shiba Inu saw a spike in its price after short bets worth nearly $790,000 were liquidated.

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Climate Risk Factors Soar at Largest Public Companies

Harvard Corporate Governance

Posted by Dean Kingsley, Matt Solomon, Deloitte & Touche LLP, and Kristen Jaconi (USC Marshall), on Thursday, January 19, 2023 Editor's Note: Dean Kingsley is a Principal and Matt Solomon is a Senior Manager at Deloitte & Touche LLP. Kristen Jaconi is an Associate Professor of the Practice in Accounting and Executive Director at Peter Arkley Institute for Risk Management at the USC Marshall School of Business.

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One billion days lost: How COVID-19 is hurting the US workforce

Mckinsey and Company

COVID-19 may no longer be a pandemic, but the disease likely reduced the availability of the US workforce by as much as 2.6 percent in 2022—a burden on productivity that could last for years.

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Cryptocurrency Market Size Worth USD 1902.5 Million by 2028 | Report by Fortune Business Insights

Benzinga

Pune, India, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The global cryptocurrency market size was valued at USD 826.6 million in 2020. It is projected to rise from USD 910.3 Million in 2021 to USD 1902.5 Million by 2028 at a CAGR of 11.1% during the forecast period. Fortune Business Insights™ has published these insights in its latest research report titled, "Cryptocurrency Market Forecast, 2023-2028.".

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SEC Continues Enforcement Scrutiny of ESG Claims by Investment Advisers

Harvard Corporate Governance

Posted by Mary Beth Houlihan, Diane Blizzard, and Scott A. Moehrke, Kirkland & Ellis LLP, on Tuesday, January 17, 2023 Editor's Note: Mary Beth Houlihan, Diane Blizzard , and Scott A. Moehrke are Partners at Kirkland & Ellis LLP. This post is based on a Kirkland & Ellis memorandum by Ms. Houlihan, Ms. Blizzard, Mr. Moehrke, Norm Champ , Dan Kahl , and Alexandara Farmer.

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Company insolvencies rise 32% in December

Accountancy Today

There were 1,964 company insolvencies in December 2022, up 32% compared with December 2021 (1,489) and 76% higher than the number registered three years previously, according to the latest figures from the Insolvency Service. It found there were 183 compulsory liquidations in December 2022, more than three and a half times as many as in December 2021 and 8% higher than in December 2019.

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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 year, new tech, no problem

Mckinsey and Company

McKinsey analyzed 14 new trends in its latest report on the most significant emerging technologies. Here are three for leaders to focus on right now.

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Chesapeake Energy offloads Texas oil acreage in pivot to natural gas

Financial Times M&A

US shale pioneer will sell assets acquired in 2018 to Wildfire Energy for $1.

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Compensation Season 2023

Harvard Corporate Governance

Posted by Adam J. Shapiro, Michael J. Schobel, and Erica E. Bonnett, Wachtell, Lipton, Rosen & Katz, on Friday, January 20, 2023 Editor's Note: Adam J. Shapiro , Michael J. Schobel , and Erica E. Bonnett are Partners at Wachtell, Lipton, Rosen & Katz. This post is based on their Wachtell memorandum. Economic volatility dominated the corporate landscape in 2022, with inflation and stock price declines making headlines throughout the year, while the labor market remained surprisingly resil

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And the BVR Survey Says, Part 2

BVR

Check out the attendee survey results from the BVR webinar: 2023 Overview of the Marijuana Industry: The Coming Wave of Consolidation and Beyond. Opportunities Abound!

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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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2023, a testing year: Will the macro-scenario range widen or narrow?

Mckinsey and Company

Will the world move to solve its structural problems and make superior short-term choices? Yes or no: that’s the first question on the test.

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Musk vs Arnault: the tale of two tycoons

Financial Times M&A

The takeovers of Tiffany and Twitter reveal vast differences between the businessmen

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The Angel’s in the Details: The Importance of Well-Drafted Board Minutes

Harvard Corporate Governance

Posted by Sonia K. Nijjar, Jenness E. Parker, Lauren N. Rosenello, Skadden, Arps, Slate, Meagher & Flom LLP, on Sunday, January 15, 2023 Editor's Note: Sonia K. Nijjar and Jenness E. Parker are Partners, and Lauren N. Rosenello is an Associate at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on their Skadden memorandum. Takeaways.

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Elon Musk Testifies That His Tweets Did Not Drive Tesla’s Stock Price

NYT M&A

The chief executive of Tesla testified in a federal civil trial about a 2018 plan to take the automaker private that fizzled out.

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European private banking: Resilient models for uncertain times

Mckinsey and Company

After one of its most successful years, Europe’s private banking industry will now need to navigate an uncertain macroeconomic outlook and evolving client needs.

Banking 144
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From Don Papa to Casamigos: founders toast payday from spirits start-up boom

Financial Times M&A

New brands have been snapped up by multinationals but the market is increasingly crowded

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PwC’s Global Investor Survey 2022

Harvard Corporate Governance

Posted by James Chalmers, Nadja Picard, and Hilary Eastman, PricewaterhouseCoopers LLP, on Wednesday, January 18, 2023 Editor's Note: James Chalmers is Global Assurance Leader, Nadja Picard is Global Reporting Leader, and Hilary Eastman is Head of Global Investor at PricewaterhouseCoopers LLP. This post is based on their PwC memorandum. Related research from the Program on Corporate Governance includes How Much Do Investors Care about Social Responsibility?

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Tax Director Authors Article for CityBusiness

LaPorte

Jennifer Bordes, Tax Director at LaPorte, recently authored an article on estate planning for New Orleans CityBusiness. Jennifer is the leader of LaPorte’s Estate Planning… The post Tax Director Authors Article for CityBusiness first appeared on LaPorte.

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Battery 2030: Resilient, sustainable, and circular

Mckinsey and Company

Battery demand is growing—and so is the need for better solutions along the value chain.

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Playtika Proposes New Takeover Offer For Rovio Entertainment At 55% Premium

Benzinga

Leading mobile gaming company Playtika Holding Corp (NASDAQ: PLTK ) submitted a revised takeover proposal to the board of Rovio Entertainment Corp for €9.05 per share in cash. The takeover offer implied a premium of 55% over Rovio's closing share price on Jan. 18, 2023. Also Read: Full story available on Benzinga.

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Trends in Forum Selection Provisions, Merger Objection Class Actions and SPACs Continue To Shape Securities Litigation

Harvard Corporate Governance

Posted by Virginia Milstead, William J. O'Brien III, Skadden, Arps, Slate, Meagher & Flom LLP, on Thursday, January 19, 2023 Editor's Note: Virginia Milstead is a Partner, and William J. O’Brien III is Counsel at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on their Skadden memorandum. Key Points State courts are enforcing federal forum provisions for cases under the Securities Act, encouraging companies to amend their charters or bylaws to add these clauses.

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Angry Birds Maker To Evaluate €683M Mobile Game Biz Offer

Law 360 M&A

Angry Birds franchise owner Rovio said on Friday that it is assessing a €683 million ($738 million) cash offer from an Israeli mobile gaming company, after the Finnish developer was blindsided by the proposed acquisition.

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What is resilience?

Mckinsey and Company

Resilience is the ability to not only recover quickly from a crisis but to bounce back better—and even thrive.

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Live Ventures Acquires Flooring Liquidators For $84M; Hopes Deal To Increase Revenue By 50%

Benzinga

Live Ventures Inc (NASDAQ: LIVE ) has acquired the outstanding equity interests of Flooring Liquidators Inc , in a transaction valued at approximately $84 million. Founded by Steve Kellogg in 1997, Modesto, California-based Flooring Liquidators provides floor, cabinets, countertops, and installation services in California and Nevada, operating 20 warehouse-format stores and a design center.

Equity 98
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SEC Finalizes 10b5-1 Trading Plan Rule

Harvard Corporate Governance

Posted by Michael S. Kesner, Pay Governance LLC, on Tuesday, January 17, 2023 Editor's Note: Mike S. Kesner is a Partner at Pay Governance LLC. This post is based on his Pay Governance memorandum. Related research from the Program on Corporate Governance includes Insider Trading via the Corporation (discussed on the Forum here ) by Jesse M. Fried.

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5 Benefits of Outsourcing Your Accounting Needs

Machen McChesney

CPA firms do more than audits and tax returns. They can also help you with everyday accounting-related tasks, such as bookkeeping, budgeting, payroll, and sales tax filings. Should your organization outsource its accounting needs? Here are five potential advantages to consider when evaluating this decision.

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Closing the digital divide in Black America

Mckinsey and Company

Five steps could help to bring broadband and digital equity to every Black household in the United States—urban and rural—while bolstering efforts to create a more inclusive economy.

Equity 133
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Top 5 Reasons to Attend the Premier Middle Market Strategy Execution & Revenue Growth Conference

Rhythm Systems

5 Benefits of Attending a Strategy Execution Conference. Rhythm Systems is getting ready to host its 2023 annual breakthrough execution conference on April 26-27, 2023, in Charlotte, NC. The gathering of fast-growing middle market firms from around the world will assemble for a meeting of the minds to deliver breakthrough execution.

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Investment Stewardship Proxy voting U.S. guidelines 2023

Harvard Corporate Governance

Posted by Sandy Boss, John Roe and Jessica McDougall, BlackRock, Inc, on Wednesday, January 18, 2023 Editor's Note: Sandy Boss is Global Head of Investment Stewardship, John Roe is Head of Investment Stewardship (BIS) in the Americas, and Jessica McDougall is a Director at BlackRock Inc. This post is based on their BlackRock memorandum. These guidelines should be read in conjunction with the BlackRock Investment Stewardship Global Principles.

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Is Twitter Just A 'Machine To Control Narrative' For Elon Musk? Why Tesla Stock Paid The Price And Now Looks 'Very Attractive'

Benzinga

Michael Lee Strategy founder Michael Lee has an interesting take on what drove Elon Musk's Twitter takeover and the subsequent decline in Tesla Inc (NASDAQ: TSLA ) shares. "He can say it's all about free speech. For Elon, it's about having a machine to control narrative because when you're that rich, you need one," Lee said Tuesday afternoon on Benzinga's " Stock Market Movers.