Mon.Jan 30, 2023

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EU Finalizes ESG Reporting Rules with International Impacts

Harvard Corporate Governance

Posted by Thibault Meynier, Sarah H. Mishkin, and Matthew Triggs, Sullivan & Cromwell LLP, on Monday, January 30, 2023 Editor's Note: Thibault Meynier , Sarah H. Mishkin, and Matthew Triggs are Associates at Sullivan & Cromwell LLP. This post is based on a Sullivan & Cromwell memorandum by Mr. Meynier, Ms. Mishkin, Mr. Triggs, John Horsfield-Bradbury , Olivier de Vilmorin , and Samuel E.

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What is ESG?

Mckinsey and Company

Environmental, social, and governance (ESG) criteria are useful in measuring a company’s progress toward achieving social goals in addition to creating shareholder value.

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The controversy over proxy voting: The role of asset managers and proxy advisors

Harvard Corporate Governance

Posted by Jan Krahnen (Goethe-University Frankfurt), Arnoud Boot (University of Amsterdam), Lemma Senbet (University of Maryland), and Chester Spatt (Carnegie Mellon's Tepper School of Business) , on Monday, January 30, 2023 Editor's Note: Jan Krahnen is Professor of Corporate Finance at the Goethe-University Frankfurt; Arnoud Boot is Professor of Corporate Finance and Financial Markets at the University of Amsterdam; Lemma Senbet is William E.

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Appraiser Countersuing Black Homeowners for Defamation

Appraisers Blog

The Maryland appraiser has filed a countersuit against the homeowners, claiming defamation. Appraisers, there have been several lawsuits filed against appraisers by borrowers who “don’t like your value, so I’m accusing you of discrimination” over the last year or so. These lawsuits all have the same theme, and it’s entirely possible that these actions are being coordinated by a consortium of ‘organizers’ and law firms.

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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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Better health among Middle Eastern employees can start with awareness

Mckinsey and Company

A survey of workers in four Middle Eastern countries provides a baseline for understanding the state of employee health and informing strategies to improve outcomes.

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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. This came as no surprise to Tim Storey, CEO of the National Conference of State Legislators (NCSL). During an early-December 2022 NCSL Forecast 2023 meeting he explained the challenge to employ workers has been echoed by legislators nationwide.

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Trigon Confirms Acquisition of Copper King Extension at Kombat in Namibia

Business Wire M&A

TORONTO--(BUSINESS WIRE)-- #Morocco--Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) to expand its land holding in Namibia, through the acquisition of exclusive prospecting licence 8529 (“EPL 8529” or the “Licence”). The Licence surrounds Trigon’s Kombat and Gross Otavi projects in the Otavi Mountainland, a region associated with high grade copper and silver mineralization.

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Why the economics of electrification make this decarbonization transition different

Mckinsey and Company

The economics of decarbonizing fleets are demonstrably viable. Now commercial transport operators need to identify the best way to capture value.

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Aesop reported target in $2bn bidding war between French groups

The Guardian M&A

LVMH, L’Oréal and Japan’s Shiseido Co said to be weighing up bids for Australian luxury beauty brand Aesop, an Australian luxury cosmetics, shampoo and bodycare brand, is said to be at the centre of a $2bn (£1.6bn) bidding war between French multinationals LVMH and L’Oréal. LVMH, the luxury goods empire controlled the world’s richest person, Bernard Arnault; L’Oréal, the world’s largest cosmetics company; and the Japanese makeup and fragrance brand Shiseido Co are weighing up bids to buy a stake

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Leadership OKR Examples to Lead with Purpose

Rhythm Systems

Leadership OKRs are a reliable way to connect workers to the company's mission and shared vision. Through this structure, managers can set clear goals that are challenging yet attainable, ambitious but quantifiable, and motivate employees to work towards a collective objective. The OKR approach is an outcome-based leadership technique frequently employed by nimble companies to link the organization's ambitions with every team member.

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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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Data Update 3 for 2023: Inflation and Interest Rates

Musings on Markets

If 2022 was an unsettling year for equities, as I noted in my second data post, it was an even more tumultuous year for the bond market. The US treasury market, considered by some still as a safe haven, was anything but safe or a haven, especially at the long maturities, as long term rates soared, with inflation (not the Fed) being the key driver. As a result, treasury bond investors faced one of their worst years in history, losing close to a fifth of their principal, as bonds were repriced.

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Do Non-Manager, Minority LLC Owners Owe Fiduciary Duties?

Farrel Fritz

This important question of whether non-manager, minority limited liability company owners owe fiduciary duties continues to bedevil New York litigants and courts. The prevailing state of the law remains unsettled, with no explicit appeals court guidance to be found. Peter Mahler has written about this unresolved legal question a number of times, with three articles on the subject available here.

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Small Business Owners: Do We Ever Reach the Point of Satisfaction?

BV Specialists

A few times each year, I like to discuss future planning strategies and long-term growth with business owners, and how they look ahead while keeping one eye on past successes and failures. Oftentimes, forward-thinking involves the potential for expanding the company, however, what if your firm is at the point where everything is running smoothly with revenues and net income right where they should be?

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The New Hart-Scott-Rodino Filing Thresholds: The FTC and Congress Join Forces to Further President Biden’s Antitrust Agenda

National Law Review M&A

Jennifer M.

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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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Luxury Car Market Size Projected to Reach USD 655.0 Billion by 2027 | Fortune Business Insights

Benzinga

Pune, India., Jan. 30, 2023 (GLOBE NEWSWIRE) -- The luxury car market size to hit USD 655.0 billion by 2027. The global market size was valued USD 449.7 billion in 2019. Increasing demand of electrified autonomous cars and rising adoption of Luxury EV cars to boost the market growth. The rising disposable income across the world will contribute to the growth of the market in the coming years.

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Congress Codifies Longstanding M&A Broker Exemption from SEC Registration

National Law Review M&A

Robert Long William B. Mack Mark D. Shaffer Daniel J.

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Komar Acquires PTR Baler and Compactor Company

Business Wire M&A

GROVEPORT, Ohio & PHILADELPHIA--(BUSINESS WIRE)--Komar Industries (“Komar”), a leading designer and manufacturer of industrial waste and recycling processing systems, announced today that it has acquired PTR Baler and Compactor Company (“PTR”), a leading equipment manufacturer, technology innovator and national service provider for vertical balers, stationary compactors, self-contained compactors and related equipment.

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Microsoft Says Sony Misled EU Officials About Activision Deal

Law 360 M&A

Microsoft Corp.'s head of communications has alleged that rival Sony Interactive Entertainment LLC misled European Union antitrust officials by claiming that Microsoft would cut off access to Call of Duty if the company's planned $68.7 billion purchase of developer Activision Blizzard were to go through.

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DEUTZ AG: DEUTZ enters into cooperation with Daimler Truck to develop and market medium- and heavy-duty engines

Business Wire M&A

COLOGNE, Germany--(BUSINESS WIRE)--The issuer is solely responsible for the content of this announcement. Today, DEUTZ AG (DEUTZ) and Daimler Truck AG (Daimler Truck) signed agreements giving DEUTZ access to Daimler engines by end of the decade.

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Ritchie Bros. Investors Divided Over $7.3B IAA Merger

Law 360 M&A

Ritchie Bros. stakeholder Janus Henderson Investors voiced "significant misgivings" on Monday about the auctioneer's planned $7.3 billion takeover of IAA Inc., but the auctioneer confirmed that Independent Franchise Partners LLP and Eagle Asset Management Inc. are among the investors backing the deal.

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Valent BioSciences Announces the Acquisition of FBSciences

Business Wire M&A

LIBERTYVILLE, Ill.--(BUSINESS WIRE)--Valent BioSciences LLC, a global leader in the discovery, development, and commercialization of highly effective, low-risk, environmentally compatible technologies and products for agriculture, public health, and forest health, announces its acquisition of FBSciences Holdings, Inc., a leader in the discovery and commercialization of naturally derived plant, soil, and climate health solutions.

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Kroger Fights State AGs Bid To Revive Albertsons Case

Law 360 M&A

National grocery chain Kroger told the D.C. Circuit that attorneys general from D.C., California, and Illinois have no legal basis to vacate a lower judge's ruling and continue the fight against the company's merger with Albertsons.

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Charles River Laboratories Acquires SAMDI Tech

Business Wire M&A

WILMINGTON, Mass.

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Catching Up With Delaware's Chancery Court

Law 360 M&A

Delaware's Court of Chancery took a long-anticipated step last week when it ruled that a company officer at McDonald's had the same oversight obligations as a director. Chancery also weighed in on a power dispute at a bitcoin trading platform and heard allegations of trademark theft from a distributor of cannabis vaping devices.

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Marqeta Announces Agreement To Acquire Power Finance, Inc.

Business Wire M&A

OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta (NASDAQ: MQ), the global modern card issuing platform, announced today that it has entered into an agreement to acquire credit card program management platform Power Finance, Inc. (“Power”). The deal is expected to close in the first quarter of 2023, subject to the satisfaction of customary closing conditions.

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Calculating the benefits of direct tax software

ThomsonReuters

As the burden of corporate tax compliance mounts, companies are increasingly turning to tax and accounting firms for help in complying with direct tax requirements.

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The ROI of Business Coaching: Executive Coaching ROI Statistics (2023 Updated)

Rhythm Systems

My last blog, 6 Excuses for Avoiding an Executive Coach (and Why You Should Think Again) talked about all the negative internal chatter (aka, excuses) we give ourselves for not wanting an Executive Coach. That blog also pointed out some of the key business benefits of Executive Coaching. What do some of those benefits look like, and how do I know if I need executive leadership coaching?

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Valuing a Dry Cleaning Business

Peak Business Valuation

The 2020 pandemic caused a serious decline in the dry cleaning industry. Although conditions have been revamped, the industry is not expected to make a full recovery. Businesses switched to casual dress codes, and consumers use cheaper dry cleaning alternatives. For this reason, a decline will likely occur over the next several years. Furthermore, the dry cleaning industry is fragmented and competitive.

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Hindenburg vs Adani: investors will pick sides

Financial Times M&A

Plus, Nissan and Renault attempt to find more common ground and 888 gets a stroke of bad luck

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Secondaries Insurance Set To Boom As Deals Market Shifts

Law 360 M&A

The demand for specialized insurance to protect against losses stemming from a seller's breaches of representations or warranties in a secondaries deal is poised to spike in 2023 due to the rise in popularity of the transaction type, as well as insurers' increased familiarity with them, experts say.

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Marqeta To Scoop Credit Card Program Management Platform Power Finance For $275M, Including Earnout

Benzinga

Global modern card issuing platform Marqeta, Inc (NASDAQ: MQ ) agreed to acquire credit card program management platform Power Finance, Inc for $223 million in cash plus $52 million in earnout. Marqeta CEO Simon Khalaf said, "We thoroughly examined possible acquisitions to more quickly. Full story available on Benzinga.

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Benchmark International Successfully Facilitated The Transaction Of Recruiters Websites By Haley Marketing

Benchmark Report

Benchmark International successfully guided the acquisition of Recruiters Websites by Haley Marketing.

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TerrAscend Well-Positioned For The Expected Launch Of Maryland's Adult Use Cannabis Program

Benzinga

TerrAscend Corp. (OTCQX: TRSSF ) (CSE:TER) closed its previously announced acquisition of Allegany Medical Marijuana Dispensary , a medical dispensary in Cumberland, Maryland. Under the terms of the agreement, TerrAscend has acquired a 100% equity interest in AMMD for total consideration of $10 million i n cash , in addition to entering into a long-term lease with the option to purchase the real estate.

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Treasury, IRS Release Additional Information on Clean Vehicle Provisions of Inflation Reduction Act

Trout CPA

The U.S. Treasury Department and the IRS on December 29, 2022, released information on the clean vehicle provisions of the Inflation Reduction Act. The new guidance provides greater clarity to consumers and businesses that, beginning January 1, 2023, are able to access tax benefits from the law’s clean vehicle provisions. The information took the form of a white paper, two notices and a set of frequently asked questions, all of which are discussed below.