July, 2024

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Business Judgment and Valuing Impacts

Harvard Corporate Governance

Posted by Dennis West (University of Oxford), and Dimitrij Euler (Value Balancing Alliance), on Tuesday, July 30, 2024 Editor's Note: Dennis West is a PhD Candidate at the University of Oxford and Dimitrij Euler is Director of Sustainable Finance at Value Balancing Alliance. This post is based on their recent report. Introduction About twelve years ago, when we first wrote about the relevance of social and environmental information to corporate governance [1] , scholars and practitioners alike r

Finance 278
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IVSC AGM 2024, 20-22 November

IVSC

We are thrilled to announce that the 2024 Annual General Meeting (AGM) of the International Valuation Standards Council (IVSC) will take place in the vibrant city of Hong Kong. This prestigious event is a cornerstone for valuation professionals, offering an unparalleled opportunity to engage with global leaders and stakeholders in the field. This year, we are honoured to be hosted at the Dorsett Kai Tak, Hong Kong, a dynamic hub of business and finance, following our successful 2023 gathering in

Finance 246
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McKinsey technology trends outlook 2024

Mckinsey and Company

Which technology trends matter most for companies in 2024? New analysis by the McKinsey Technology Council highlights the adoption, development, and industry effects of advanced technologies.

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Justice Dept. Defends TikTok Law That Forces App’s Sale or Ban

NYT M&A

In its first detailed response to a legal challenge, the agency said TikTok’s proposed changes wouldn’t prevent China from using it to collect U.S. users’ data or spread propaganda.

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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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$4.3B In Soft Drinks: Carlsberg Acquires Britvic In Bold Move Amid Cannabis Market Growth

Benzinga

Carlsberg' s (CARL-B.CO) recent $4.3 billion acquisition of Britvic , known for Robinsons squash and J20 , highlights a strategic pivot for the Danish brewer. The deal will create a new entity, Carlsberg Britvic , to enhance its footprint in the UK and Western Europe. Following a previously rejected lower offer, Britvic investors will receive £13.15 per share.

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Mastercard Seeks Caribbean Fintech Partners For New Products

Global Finance

Mastercard has issued a call to action for financial technology companies to solve financial issues in the Caribbean. In return, Mastercard offers expertise in complying with regional regulations, market entrance and the ability to license and certify products. “We’re more a network that enables various fintech to introduce new products into the market within the context of local regulations,” Mastercard’s country manager for Barbados, Jamaica, Trinidad & Tobago and the Eastern Caribbean, Da

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The Right Way To Think About Market Timing When Selling Your Business

Benchmark Report

When is the right time to put your company on the market? Many business owners struggle with this question. It's a difficult decision involving many complexities, but it doesn't have to be that complicated. There is one simple rule for any business owner to live by: ALWAYS have your company in the best position to be sale-ready.

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The Iberian green industrial opportunity: Electrification and renewables

Mckinsey and Company

Cooperation from all stakeholders can drive Iberian decarbonization through electrification and renewables deployment. Here we discuss the ambition, challenges, and potential unlocks for Spain.

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How Microsoft’s Satya Nadella Became Tech’s Steely Eyed A.I. Gambler

NYT M&A

Microsoft’s all-in moment on artificial intelligence has been defined by billions in spending and a C.E.O. counting on technology with huge potential and huge risks.

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Paramount Analysts Size Up Merger: Skydance Aims For Earnings, 'Not A Breakup,' Redstone Says Content Is King

Benzinga

Media company Paramount Global (NASDAQ: PARA ) agreed to a merger with Skydance Media to form "New Paramount," valuing the combined company at $28 billion. Here's a look at what analysts are saying and how Paramount Non-Executive Chairwoman Shari Redstone sees the deal playing out. What Happened: After months of negotiation, Paramount and Skydance have come to a merger agreement to combined the media entities.

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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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2024 Paris Games: Can The Olympics Finally Claim Financial Victory? (Part 1)

Global Finance

In this two-part feature on the economics of the Summer Olympics, Global Finance delves into the financial strategies and innovations that the 2024 Paris Games , which run from July 26 to Aug. 11, are implementing to avoid the pitfalls of past host cities. Part one explores the historical context of Olympic costs and the steps the Paris Games’ organizing committee is taking to ensure fiscal responsibility.

Start-ups 122
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Anti-ESG Proposal Surged in 2024 But Earned Less Support

Harvard Corporate Governance

Posted by Heidi Welsh, Sustainable Investments Institute, on Wednesday, July 31, 2024 Editor's Note: Heidi Welsh is the Executive Director at the Sustainable Investments Institute (SI2). This post is based on her recent Si2 memorandum. Shareholder proponents who do not support limiting corporate environmental impacts, promoting diversity, or providing investors with more ESG disclosure flooded this year’s corporate annual meeting agendas.

Equity 290
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How Generative AI (GenAI) can empower corporate tax departments

ThomsonReuters

The recent surge in artificial intelligence advancements has started to transform the professional services industry, and corporate tax departments are no exception. Generative Artificial Intelligence ( GenAI ) presents a game-changing opportunity to transform corporate tax operations by enhancing human capabilities and driving strategic decision-making.

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Why agents are the next frontier of generative AI

Mckinsey and Company

By moving from information to action—think virtual coworkers able to complete complex workflows—the technology promises a new wave of productivity and innovation.

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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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The Stranger in Seattle Gets a New Owner, With Plans for Expansion

NYT M&A

Noisy Creek, a new media company, has bought The Stranger and The Portland Mercury, two of the country’s best known alternative weeklies.

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After Losing $150B Nvidia Opportunity, Masayoshi Son's SoftBank Acquires UK Chipmaker Graphcore In Major AI Push

Benzinga

SoftBank Group Corp. (OTC: SFTBF ) (OTC: SFTBY ) led by has announced the acquisition of Graphcore , a UK-based chipmaker, in a significant move to bolster its artificial intelligence capabilities. What Happened : SoftBank, led by Masayoshi Son , has acquired Graphcore, a startup focused on AI, founded by UK semiconductor industry veterans in 2016. The acquisition is part of SoftBank’s multibillion-dollar AI push and will position Graphcore alongside chip designer Arm Holdings PLC (NASDAQ:

Equity 114
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First Income Tax In GCC Approved By Oman’s Parliament

Global Finance

Oman is on course to become the first Gulf Cooperation Council (GCC) state to introduce a personal income tax as the sultanate ramps up efforts to boost revenue and diversify its economy away from hydrocarbons. The draft law, approved by Oman’s Parliament in July, has been sent to the State Council for final approval, a decision analysts say is highly anticipated.

Finance 119
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Delaware and a Close Look at Independence

Harvard Corporate Governance

Posted by Subodh Mishra, ISS STOXX, on Monday, July 1, 2024 Editor's Note: Subodh Mishra is Global Head of Communications at ISS STOXX. This post is based on an ISS-Corporate memorandum by Alyce Lomax and is part of the Delaware law series ; links to other posts in the series are available here. Key Takeaways A Delaware judge’s decision to void $55.8 billion in compensation for Elon Musk was a noteworthy event for shareholders and corporate issuers, not only regarding compensation, but also th

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Value-based versus fixed-fee pricing for accounting firms

ThomsonReuters

Historically, accounting firms have operated under a transactional billing model, providing once-a-year services primarily focused on tax compliance and reporting. However, with the rise of AI-powered tax technology and increasing client expectations , forward-looking accounting firms are evolving beyond tax compliance to offer year-round, value-added services that capitalize on their unique expertise and address their clients’ overall financial well-being.

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The evolution of customer care: AI and the Gen Z effect

Mckinsey and Company

Gen Z’s influence on consumer behavior and employment trends is driving contact center leaders to integrate AI, adapt to market changes, and implement holistic strategies for customer care.

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Founder of Kakao, South Korean Tech Giant, Arrested Over K-Pop Deal

NYT M&A

Kim Beom-Su, the billionaire behind Kakao, was taken into custody on Tuesday on allegations of stock manipulation during a bidding war over a major K-pop agency.

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Amazon Buys Historic Bray Film Studios Known For 'Dracula' And 'The Curse Of Frankenstein'

Benzinga

Amazon.com Inc. (NASDAQ: AMZN ) has acquired Bray Film Studios , the former production site for the iconic Hammer horror film series, to expand its UK-based television and film production. What Happened : Amazon’s Prime Video division has purchased Bray Film Studios, located near London, for an undisclosed sum. Amazon said the studios consist of five stages, workshops, and offices.

Equity 105
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The Philippines: New Samurai Bond Issue’s Political Backdrop

Global Finance

The Philippines is looking to Japan to partially finance its ballooning debt as Manila moves to strengthen ties between the two countries. The Department of Finance (DoF) says it is exploring issuing yen-denominated, or samurai bonds alongside or in place of conventional US-dollar bond issuance. Government debt has mushroomed in recent years, hitting 15.3 trillion pesos—around $264 billion in May—according to Bureau of the Treasury estimates.

Treasury 117
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The director’s guide to shareholder activism

Harvard Corporate Governance

Posted by Matt DiGuiseppe, PricewaterhouseCoopers LLP, on Sunday, July 14, 2024 Editor's Note: Matt DiGuiseppe is Managing Director at the Governance Insights Center, PricewaterhouseCoopers LLP. This post is based on his PwC memorandum. Part I: Introduction Shareholder activism today The nature of shareholder activism, the key players, their preferred methods and their typical targets all tend to shift along with investment and business trends.

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Why Is Embracing Curiosity Important for Strategic Leaders?

Rhythm Systems

In his upcoming book, The Journey to CEO Success: 7 Practices for High-Growth Leadership , our CEO Patrick Thean shares how critical it is for today’s CEOs and leaders to be curious. Curiosity is not just an engaging personal trait—it's a strategic imperative for CEOs who want to drive innovation, inspire their teams, and position their organizations for sustainable growth in a dynamic and evolving business environment.

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In the long run: What leaders can learn from an Olympic gold medalist

Mckinsey and Company

Alistair Brownlee, a two-time Olympic gold medalist, shares his strategies for staying resilient amid pushback, removing barriers to creating habits, and leading with conviction.

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Barry Diller Explores Bid to Take Control of Paramount

NYT M&A

Mr. Diller, a digital media pioneer, lost a bidding war for Paramount Pictures decades ago. Now, he’s making a run at its parent company.

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Food giants are strangling Britain’s farmers and consumers. What’s the solution? Break them up | Nicholas Shaxson

The Guardian M&A

The UK has a huge problem with monopolies – yet taking conglomerates apart is not as hard as you might think When British farmers protested outside the Houses of Parliament earlier this year, they sent 49 scarecrows , after a survey had found that 49% of UK fruit and vegetable farmers said they expected to go bust within a year. The scarecrows stood in for real farmers, who are mostly too afraid to speak out.

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Vodafone Idea In India Explores Alternative Avenues To Raise Capital

Global Finance

Facing looming 5G spectrum financing and rock-bottom data prices, Vodafone gets creative with alternative funding options. Numerous Indian companies and multinational subsidiaries in India are heading for IPOs in the next few months, as funding capital projects amid India’s infrastructure boom takes precedence over other corporate finance activities.

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AI Washing Enforcement Continues, Highlighting Risks to Companies and Investors

Harvard Corporate Governance

Posted by David Rhinesmith, Brad Marcus, and Sara Schaedler, Orrick, Herrington & Sutcliffe LLP, on Friday, July 19, 2024 Editor's Note: David Rhinesmith , Brad Marcus , and Sara Schaedler are Partners at Orrick, Herrington & Sutcliffe LLP. This post is based on Orrick memorandum by Mr. Rhinesmith, Mr. Marcus, Ms. Schaedler, and Jackson Hagen.

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Tellurian Shares Soar on $1.2B Woodside Deal: Details

Benzinga

Tellurian Inc. (NYSE: TELL ) shares are trading higher after the company inked an acquisition deal with Australia’s Woodside Energy Group Ltd (NYSE: WDS ) for an implied enterprise value of $1.2 billion, including net debt. The deal consideration includes a $900 million all-cash payment or $1.00 per Tellurian share. The acquisition price represents a 75% premium to Tellurian’s closing price on July 19, 2024, and a 48% premium to Tellurian’s 30-day volume weighted average price.

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Future-proofing operations: How tech and talent go hand in hand

Mckinsey and Company

Talent management starts by addressing workforce challenges, adapting to generational needs, leveraging technology in operations, and developing leadership for talent retention.

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Skydance Reaches Deal to Merge With Paramount

NYT M&A

The deal, approved by Paramount’s board, ushers in a new chapter for the company, which owns CBS and the movie studio behind “Top Gun.

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Key Resilience and Business Continuity Indicator | Ncontracts

N Contracts

Measuring business continuity risk is crucial for protecting your financial institution from operational, financial, and reputational damage. When you understand your level of business continuity risk, you can determine if you're comfortable with that risk or need to enhance your preparedness. This applies whether you're quantifying risk for the first time or monitoring changes in your risk exposure.

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