Wed.Dec 07, 2022

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Mutual Fund Performance at Long Horizons

Harvard Corporate Governance

Posted by Hendrik Bessembinder (Arizona State University), Michael Cooper (University of Utah), Feng Zhang (Southern Methodist University), on Wednesday, December 7, 2022 Editor's Note: Michael J. Cooper is Huntsman Chair in Finance at the University of Utah David Eccles School of Business; Hendrik Bessembinder is Labriola Chair in Finance at Arizona State University W.P.

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Turkey's MNG Airlines To Go Public Through SPAC Merger

Benzinga

MNG Airlines , a logistics and transport company, is going public through a merger with a blank-check company Golden Falcon Acquisition Corp (NYSE: GFX ). Turkey's MNG Airlines will be listed on the New York Stock Exchange (NYSE) under the new ticker symbol "MNGA." The transaction is expected to have a pro-forma enterprise value of $676.

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Corporate Governance & Executive Compensation Survey

Harvard Corporate Governance

Posted by Richard Alsop, Doreen Lilienfeld, Gillian Moldowan, Shearman & Sterling LLP, on Wednesday, December 7, 2022 Editor's Note: Richard Alsop , Doreen Lilienfeld , and Gillian Moldowan are Partners at Shearman & Sterling LLP. This post is based on a Shearman & Sterling piece by Mr. Alsop, Ms. Lilienfeld, Ms. Moldowan and Lona Nallengara and is part of the 20th Annual Corporate Governance Survey publication of Shearman & Sterling LLP.

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EXCLUSIVE: Where Will The Next 1 Billion New Crypto Users Come From, Following FTX Disaster? Okcoin, CoinFlip Execs Have An Idea

Benzinga

Okcoin COO Jason Lau, CoinFlip CTO Rory Herriman and Columbia University Lab to Market Blockchain Accelerator advisor Art Malkov discussed the path to onboard the next one billion global cryptocurrency users at the Benzinga Future of Crypto Conference in New York on Wednesday. Herriman said the key to increasing mainstream crypto use is accessibility.

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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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T-Mobile Says Suit Challenging $26B Merger Lacks Standing

Law 360 M&A

T-Mobile has urged an Illinois federal judge to permanently toss out a group of non-customers' lawsuit blaming the company's $26 billion merger with Sprint for price increases they experienced two years later, arguing that they have no standing and can't plausibly link their increases to the merger.

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Building a creator economy

Mckinsey and Company

Marc Petit, Vice President of Unreal Engine Ecosystem at Epic Games, is optimistic about the promise of the metaverse, which he says will depend on real-time streaming of interactive, 3D content. An edited version of the conversation from our ‘Value creation in the metaverse’ report follows.

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How retailers in Europe can navigate rising inflation

Mckinsey and Company

With inflation at record highs throughout Europe, retailers are under more pressure than ever. Those that act quickly and follow a holistic playbook can be well positioned to thrive.

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Meta Can't Toss Advertiser's 'Monopoly Broth' Suit

Law 360 M&A

A California federal judge on Tuesday denied a bid by Meta to dismiss a lawsuit by advertisers accusing the company of monopolizing online social media advertising, finding that the complaint's allegations of a "monopoly broth" of anticompetitive conduct are sufficient to move forward.

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Romanian consumers in budget squeeze as they adapt to increasing uncertainty

Mckinsey and Company

Romania’s consumer confidence is among the lowest in the region. Coupled with historically high inflation and the war in neighboring Ukraine, this lack of confidence is having a significant impact on purchasing habits. McKinsey’s Consumer Sentiment Survey, conducted in November 2022, found Romanians are changing their behavior to adapt to these concerns.

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Health Co. Inks $4M Deal To End Suit Over Hemp Co. Buyout

Law 360 M&A

A proposed class of investors has brokered a deal with Neptune Wellness Solutions Inc. that would see the company pay either $4 million in cash or a mix of cash and stock that's valued slightly higher to end claims it downplayed the risks of acquiring a hemp company.

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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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Pixels make the picture: A guided tour through the granular world

Mckinsey and Company

Our granular dataset offers a dramatically different view of human development around the world, uncovering the true depth and breadth of progress in places previously obscured by country averages.

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Fosun-owned Lanvin’s future hangs by a thread

Financial Times M&A

Spac plan for company comes as Chinese group struggles to tackle its debt pile

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Pixels of Progress: A granular look at human development around the world

Mckinsey and Company

Our world is big and complex, but human progress is still about life on the ground, up close and in detail.

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Fiduciary tax 101

ThomsonReuters

Fiduciary tax comes with unique challenge s. For starters, wealth management requires extra care, trust investments are becoming more complex, and distribution rules are ever changing. As we know, governments collect taxes to fuel economic growth and fund investments in infrastructure, human capital, as well as the provision of services for individuals and businesses.

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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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Effective employee resource groups are key to inclusion at work. Here’s how to get them right

Mckinsey and Company

By aligning their work with corporate and employee expectations, employee resource groups can help people feel more included in the workplace.

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The basics of Foreign-Trade Zones (FTZs). What are they?

ThomsonReuters

In the ongoing race to reduce costs and optimize operational efficiency, more U.S. companies are taking advantage of a perk available to them courtesy of the Foreign Trade Zones Act of 1934. What is a Foreign-Trade Zone? Foreign-Trade Zones (FTZs) are specially designated sites near U.S. ports of entry that allow importers and exporters of all sizes to move goods in and out of the country paying reduced or no customs duties, taxes, or fees.

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The execution imperative for European consumer-goods companies

Mckinsey and Company

Our latest survey reveals the critical sales and marketing practices that help consumer-goods companies achieve commercial excellence and deliver profitable growth.

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Mining magnate Andrew Forrest becomes Australia’s largest renewables player

Financial Times M&A

Billionaire buys country’s biggest wind power company for $2.

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Uneven impacts: Australian consumers and inflation

Mckinsey and Company

Barely out of the disruptions of COVID-19, the Australian consumer has hit new turbulence in the form of significant inflation, mortgage rate rises, and energy price spikes driven (in part) by unstable geopolitical circumstances.

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Angels and Devils: The Early Crypto Entrepreneurs

Reynolds Holding

After the collapse of FTX and a summer of crypto failures (Terra Luna, Celsius, Three Arrows), the Securities and Exchange Commission (SEC) will want to act quickly and treat more digital assets as “securities.” But which ones? In a new article, I attempt an answer by re-interpreting the Howey test for determining what is an “investment contract” and thus a security.

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The last frontier: Development where it is needed most

Mckinsey and Company

The number of people in microregions with low health and income fell by three quarters over the past 20 years. Most of the remaining microregions were in sub-Saharan Africa, but progress was substantial there, too.

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The Connected Risk Journey: How to Discover Risk When and Where It Really Matters

Audit Board

2023 is shaping up to be a pivotal year for business leaders. On your connected risk journey, careful planning and guidance from audit, risk management, and compliance professionals are essential for business success when facing risk challenges such as digital transformation, climate change, supply chain disruption, and economic uncertainty. In this episode of Speed of Risk, John Wheeler, Former Gartner IRM Analyst and Senior Advisor, Risk & Technology at AuditBoard, shares a connected risk

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2023 McKinsey China Consumer Report: A Time of Resilience

Mckinsey and Company

Five trends are reshaping China’s consumer market.

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Three Key ESG Audit Planning Considerations

Audit Board

An ESG risk and reporting program should not be implemented in isolation — it should be part of a larger, integrated risk management approach. Internal audit serves as the last line of defense in this approach, integrating ESG risk and compliance considerations into the audit plan while driving discipline and controls around material ESG risks. As a part of this role, internal audit is responsible for advising the organization on its broader risk management capabilities, and in anticipating and

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Hertz Atty Presses Mich. Panel To Remand Tax Credit Dispute

Law 360 M&A

The Michigan Court of Appeals should remand a tax dispute between Hertz Corp. and the state even if it upholds a decision blocking the company from carrying forward a tax credit that a different entity held before a merger, a Hertz attorney argued.

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Planning for Uncertainty: The Rise of the Flexible Audit Plan

Audit Board

The Mandela effect describes the shock we feel when deeply held common memories turn out to be false. Many believe “Mr. Monopoly” sports a monocle (he never did) or that Ingrid Bergman says “Play it again, Sam” in Casablanca (actually it’s “Play it, Sam. Play ‘As Time Goes By.’”) . Would it surprise you that the IPPF does not require an annual audit plan?

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RedSeal Seeks Chancery Toss Of Challenge To 2019 Merger

Law 360 M&A

An attorney for independent directors of cyber risk modeling business RedSeal Inc. told Delaware's chancellor Wednesday that a suit challenging a nearly $70 million merger and sale of most company equity in 2019 failed to overcome director business judgment deference, despite objections from wiped-out common stockholders.

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Operation clean sweep: Preparing your business for sale

Exit Strategy

You’ve decided to sell. Now how can you get the most for your business? Real estate principles apply, so you’ll want to clean house and maximize your curb appeal. But that’s not all that goes into a successful business sale. You need to “clean up your act,” so to speak, and address some operational issues […]. The post Operation clean sweep: Preparing your business for sale appeared first on Exit Strategies Group, Inc.

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New AuditBoard Capabilities Released to Extend Your Front Lines and Elevate Your Team

Audit Board

Each quarter, we highlight key capabilities released by AuditBoard. We’ve collected a summary of key features released in Q4 2022, with the opportunity for customers to learn more about additional product releases in the AuditBoard Help Center. . ESG & Sustainability Operationalized. See AuditBoard's ESG solution in action. Introducing AuditBoard ESG !

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The benefits of integrating Foreign-Trade Zones (FTZs) into your supply chain

ThomsonReuters

Many large U.S. multinationals have been using Foreign-Trade Zones (FTZs) to reduce duties and optimize their supply chains for quite some time. But almost any company involved in international import/export activity can benefit from the strategic use of FTZs, and there are many reasons why it’s a move worth considering. What is an FTZ? FTZs are specially designated areas located near U.S. ports of entry that, for import/export purposes, are considered outside the U.S.

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Investment Banking in Hong Kong: The Financial Center of the Future World Order?

Brian DeChesare

The first thing to understand about investment banking in Hong Kong is that it’s unlikely you’ll ever be able to work in investment banking in Hong Kong. In the 1990s and 2000s, bankers from other regions could transfer to HK or start their first jobs there without a strong connection to the region or Asian language skills. You could find senior finance professionals who had lived in HK for decades and never bothered to learn Mandarin (or Cantonese).

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Clarity Gold Enters Option to Acquire a 50% Interest in the Lithium381 Property

Benzinga

VANCOUVER, British Columbia, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Clarity Gold Corp. (" Clarity " or the " Company ") (CSE: CLAR , OTC: CLGCF , FSE: 27G)) is pleased to announce that it has entered into an option agreement dated December 6, 2022 (the " Option Agreement ") with Genius Metals Inc. (the " Optionor "), an arm's length public company listed on the TSX Venture Exchange (" TSXV "), to earn an undivided 50% right, title, ownership and beneficial interest in and to 21 mineral claims co

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Benchmark International Successfully Facilitated the Transaction Between Quantum3 Aluminium Limited and Burke Porter Group

Benchmark Report

Benchmark International is pleased to announce the acquisition of Killaloe-headquartered Quantum 3 ( Q3 ) by Michigan-based Burke Porter Group ( BPG ). Established in 2000, Q3 manufactures a range of lean and flexible aluminium profile and framing systems, featuring patented connector blocks, for manufacturers in the medical and life sciences industries.

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Hair Care Market to Hit USD 112.97 Billion by 2028 | Industry to Generate 5.6% CAGR during (2021-2028)

Benzinga

Pune, India, Dec. 07, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the global hair care market size is expected to showcase exponential growth by reaching USD 112.97 billion by 2028 while exhibiting a CAGR of 5.6% between 2021 and 2028. This information is published by Fortune Business Insights in its latest report, titled " Hair Care Market, 2021 – 2028 " The report further mentions that the market stood at USD 75.06 billion in 2020.