Wed.Sep 21, 2022

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Elon Musk To Answer Twitter's Questions Under Oath In Court Next Week

Benzinga

Tesla Inc (NASDAQ: TSLA ) CEO Elon Musk will answer questions of Twitter Inc (NYSE: TWTR ) in a Delaware courtroom next week as he’s all set to be deposed in a case related to his now jettisoned acquisition of the social media platform. What Happened: The deposition is slated for Sept. 26-27 and may run into Sept. 28 if needed, reported Reuters, citing a court filing.

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Author Talks: Africa is not a country

Mckinsey and Company

News, entertainment, and even charity campaigns tend to promote a stereotypical image of Africa that ignores its nuance and history. Dipo Faloyin is correcting this narrative.

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Trending Sources

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Sam Bankman-Fried's FTX, Binance Reportedly In The Lead To Buy Voyager Digital's Assets

Benzinga

The assets of defunct cryptocurrency lender Voyager Digital Ltd. (OTC: VYGVQ ) have attracted the highest bids from cryptocurrency exchanges FTX and Binance , according to the Wall Street Journal , which cited persons familiar with the situation. According to the WSJ, the current offer from Binance is around $50 million, which is only marginally higher than the rival offer from FTX, which is led by Sam Bankman-Fried.

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How CEOs Waste Time: 5 Things CEOs Do That Waste Time

Rhythm Systems

CEOs spend their days working long hours, managing employees, and dealing with shareholders. They don’t have much time to focus on their personal lives or hobbies.

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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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Craft Cannabis Workers Unite! The US National Craft Cannabis Coalition Announce Its Formation

Benzinga

When Karl Marx and Frederich Engels popularized Flora Tristan's famous phrase “Workers of the world, unite!” in 1848, they sought to abolish the bureaucratic state and seize the means of production. In 2022, a national coalition of craft cannabis is aiming for a closer goal within capitalism, in the US: carving a space in regulations for small craft cannabis workers in one of the most dynamic sectors in the world.

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How Accounting Comparability Between Bidders and Targets Affects Deal Outcomes

Reynolds Holding

How comparable are the financial statements of M&A bidders and acquirers in the same industry? And does financial statement comparability affect the outcome of a deal? In a recent paper, available here , we investigate these questions, using a sample of deals between U.S.-listed firms over the 1987-2021 period. An accounting system maps economic transactions onto financial statements (Yip and Young, 2012).

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Cannabis Legalization Must Address Monopoly Dangers

Law 360 M&A

As lawmakers consider federal cannabis legalization, they must beware the potential dangers to public health and social equity posed by large marijuana conglomerates — and prioritize anti-monopoly principles, say Shaleen Title at Parabola Center for Law and Policy and Matt Stoller at the American Economic Liberties Project.

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Aluminum Alloy Wheel Market Size to Worth Around USD 30.98 Billion by 2028

Benzinga

Pune, India, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The global aluminum alloy wheel market size was USD 10.89 billion in 2020. The market is projected to grow from USD 16.43 billion 2021 to USD 30.98 billion in 2028 at a CAGR of 9.5% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, "Aluminum Alloy Wheel Market, 2021-2028.".

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Accelerating the transition to net-zero travel

Mckinsey and Company

Despite the best intentions, many travel companies are struggling to reduce their emissions fast enough. A report by McKinsey and Skift provides four practical recommendations.

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Latham Brings On Winston & Strawn Real Estate Pro In LA

Law 360 M&A

Latham & Watkins LLP announced Tuesday it is expanding its California team by adding a Winston & Strawn LLP real estate expert as a partner in its Los Angeles office.

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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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French billionaire Xavier Niel buys 2.5% stake in Vodafone

The Guardian M&A

Opportunities to accelerate ‘streamlining’ of UK telecoms group’s business cited by investment vehicle The French telecoms billionaire Xavier Niel has acquired a 2.5% stake in Vodafone, citing opportunities to accelerate a “streamlining” of the London-listed group’s business. Niel, who founded the telecoms company Iliad, has taken the stake through his investment vehicle Atlas Investissement.

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Germany to nationalise struggling utility Uniper in €29bn bailout

Financial Times M&A

Berlin to take control of what was once Europe’s biggest importer of Russian gas

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How aerospace and defense players can win in aftermarket services

Mckinsey and Company

McKinsey research points to five central priorities—all grounded in data—for improving aftermarket services in aerospace and defense.

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The ‘Spac king’ abdicates the throne

Financial Times M&A

Plus, hedge funds press new deal with Trump’s social media shell company and bankers attempt to sweeten Citrix financing

Finance 85
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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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ISS Discusses Evolving Clawback Policies

Reynolds Holding

The Securities and Exchange Commission is poised to revise its rules on so-called clawbacks: the process of recovering incentive compensation from current and former executives when a company is forced to make a material restatement of its accounts. With a target of releasing its revisions in October, the SEC has twice reopened public comment periods on proposals that it first advanced in 2015 to implement part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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Investindustrial takes majority stake in luxury food retailer Eataly

Financial Times M&A

Private equity firm buys 52% of group with a €200mn investment

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Fed raises its policy rate by 75 basis points and sees more increases

LaPorte

(authored by RSM US LLP) The Federal Reserve raised its policy rate by 75 basis points on Wednesday, the third straight increase of that size and a sign that it is continuing its aggressive push to tame inflation. The post Fed raises its policy rate by 75 basis points and sees more increases first appeared on LaPorte.

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Is Lyft For Sale? This Analyst Believes Takeover Rumors Have 'Little Validation'

Benzinga

Lyft Inc. (NASDAQ: LYFT ) stock has significantly outperformed peers, rising 14% on a potential takeover bid, despite no sources validating these speculations, according to Bank of America Securities. The Analyst: Michael McGovern maintained an Underperform rating for Lyft, with the price target unchanged at $14. The Thesis: Although the San Francisco-based company is a takeover target for “autonomous vehicle developers and OEMs” and.

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More tax changes coming? Midterm elections may hold the answer

LaPorte

(authored by RSM US LLP) Results of the midterm elections will determine the tax policy outlook for the remainder of 2022, including an extenders package. The post More tax changes coming? Midterm elections may hold the answer first appeared on LaPorte.

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2 Firms Steer Liquidity Provider's $3.5B SPAC Merger

Law 360 M&A

Beneficient Company Group LP, provider of liquidity services for investors of alternative assets, will go public at an estimated $3.5 billion value by merging with special-purpose acquisition company Avalon Acquisition Inc., the parties announced Wednesday, in a deal guided by two law firms.

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What to Do in a Recession: Lessons for Auditors From 2008

Audit Board

In the second quarter of 2022, the US met the criteria for an economic recession with two consecutive quarters of negative growth. A recession had been predicted for a while, given the disruption the economy has experienced in recent years. Recessions come and go as part of the regular economic cycles — but internal audit must position itself to continue the critical work we do within our organizations.

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New York City: Factor Presence Nexus Adopted

Trout CPA

Governor Kathy Hochul on August 31, 2022, signed into law a bill ( S.B. 9454 ) that, among other things, accomplishes two important tax changes for New York City (NYC): (1) adopting an economic nexus threshold of $1 million and (2) retroactively allowing the NYC pass-through entity tax (PTET) election to be made for tax years beginning on or after January 1, 2022, as long as the New York State (NYS) PTET election is first properly made on or before September 15, 2022.

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Germany Moves To Nationalize Gas Giant Uniper In €8B Deal To Avert Energy Supply Crisis

Benzinga

Germany will nationalize Uniper SE (OTC: UNPRF ) in a bid to save the country's largest gas importer, which was hit hard by Russian natural-gas cuts to Europe. The German government would take a 99% stake in the energy giant and inject €8 billion. The Federal Government will acquire the Uniper shares currently held by Fortum Oyj (OTC: Full story available on Benzinga.com.

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Income Tax Considerations for Student-Athletes with NIL Contracts

Trout CPA

Student-athletes can now enter into Name, Image, and Likeness (NIL) Contracts for compensation. NIL contracts have major federal and state tax implications, including income tax responsibilities, state nexus, and reporting obligations. How should athletes and their advisors navigate compensation issues related to NIL contracts so that there are no tax surprises?

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Novartis, Moderna Partner Agrees To Merge With Beleaguered Sesen Bio

Benzinga

Sesen Bio Inc (NASDAQ: SESN ) and privately held Carisma Therapeutics Inc have entered into a merger agreement to combine the companies in an all-stock transaction. The combined company will operate under the Carisma Therapeutics moniker under the "CARM symbol" and is expected to have approximately $180 million of cash and cash equivalents, including $30 million from concurrent financing by Carisma, which is expected to.

Finance 52
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Slaughter-Led French Giant Schneider To Buy Aveva For £9.5B

Law 360 M&A

Schneider Electric SE said on Wednesday that it has agreed to acquire Aveva Group PLC in a deal guided by Slaughter and May and Freshfields Bruckhaus Deringer LLP, which values the British industrial software company at approximately £9.5 billion ($10.8 billion).

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The Cost Accounting Standards (CAS) Guide for Government Contractors

Trout CPA

Navigating Cost Accounting Standards (CAS) can prove challenging for government contractors. CAS are mandatory for use by prime contractors and subcontractors to estimate, accumulate and report costs, and to settle disputes for procurements with the U.S. government unless an exemption applies.

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Blue Sky Multiples Remain Flat as Earnings Plateau

Auto Dealer Valuation Insights

The first half of 2022 was tumultuous, which Haig Partners succinctly summarized in their Q2 Haig Report. Negative headlines and headwinds aplenty: Inflation driving up costs for dealers and reducing affordability for customers Interest rates rising also drives up dealer costs and reduces affordability Gas prices spiked (and are receding) which also reduces affordability (though this has only.

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How Summer Impacts Business

Quantive

Have you heard the one about a market so hot that you could sell ice to Native Alaskans during the winter? Well, it’s only a joke because you can’t sell anything to customers who get it for free, courtesy of the climate. On the other hand, during August, when the Alaskan sun rises before 5:15 […].

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What do investors actively look for in a cap table?

Vested

Capitlisation tables (cap tables) demonstrate much more to potential investors than just a snapshot of your company’s equity - they also tell a story of the decision-making and business acumen that brought you to this point. This article will tell you what you need to include in yours and what investors are looking for between the lines.

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Schneider agrees £9.5bn buyout of UK software developer Aveva

Financial Times M&A

French industrial group says assuming full ownership will allow it to execute strategy faster

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An Analysis of sui generis protection in Plant Varieties

Law Essentials M&A

This article is written by Gauri Gupta, 4th year BA.LLB student from Vivekananda Institute of Professional Studies, GGSIPU.

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French billionaire Xavier Niel builds 2.5% Vodafone stake

Financial Times M&A

UK-based telecoms group under pressure to pursue deals and streamline business

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Key Adaptations For Law Firms Amid Quiet Quitting Movement

Law 360 M&A

While quiet quitting may not be sustainable at law firms with billable hour requirements, there are specific steps law firms should take to maintain engagement and otherwise respond to the trend's underlying message that associates won't spend all their waking hours at work if they don't feel it's worthwhile, says Meredith Kahan at Whiteford Taylor.

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