July, 2024

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The Board’s Role in AI and Sustainability

Harvard Corporate Governance

Posted by Kurt Harrison, Laura Mantoura, and Emily Meneer, Russell Reynolds Associates, on Wednesday, July 3, 2024 Editor's Note: Kurt Harrison is Co-Head of the Global Sustainability Practice, Laura Mantoura is Board Member and CEO Advisory Practice, and Emily Meneer is Leader of Sustainability Knowledge team at Russell Reynolds Associates. This post is based on their Russell Reynolds memorandum.

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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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$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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Incoming Alphabet CFO Knows The ABCs Of Innovation

Global Finance

Alphabet reached far outside its industry boundaries to recruit its new CFO; Anat Ashkenazi, an Eli Lilly veteran, takes charge of the Google parent’s finances this summer, replacing Ruth Porat, who was promoted to president and CIO. Unusual, yes; the drugmaker and the tech giant have very different lines of business, their cultures are different, and so are their strategic priorities.

Finance 105
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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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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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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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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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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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FDI Tumbled Across Asia In 2023, UN Reports

Global Finance

A sizable decline in foreign direct investment (FDI) in China and a notable decrease in M&A sales across developing Asia contributed to an 8% fall in FDI to $621 billion across the region in 2023, according to data from the United Nations Conference on Trade and Development (UNCTAD). Nowhere was the drop steeper than in South Asia, where a 37% fall to $36 billion was reported.

Finance 105
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Payroll: Deadlines Are Key

Machen McChesney

Simple payroll errors are avoidable, but if you don’t pay attention, you could end up facing consequences that cost thousands of dollars in compliance penalties. Not only that but you might have to deal with unwanted attention on both you and your payroll department.

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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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Paramount-Skydance Deal Is Redstone Windfall, Investor Says

Law 360 M&A

A shareholder of Paramount Global Class B common stock on Wednesday sued chairwoman Shari Redstone and several members of its board over the allegedly "unfair" merger with Skydance Media LLC, claiming the deal is being orchestrated to cash out Redstone's investments in Paramount at a substantial premium compared to other stockholders.

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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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Offshore wind: Strategies for uncertain times

Mckinsey and Company

The offshore wind industry is facing macroeconomic pressures that are halting growth and profitability. Developers can embrace four key actions to help navigate this changing environment.

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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 106
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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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Japan Megabanks’ Strategic Share Sale Marks Big Priority Shift

Global Finance

The plan by the Big Three banks to unwind their cross-shareholdings points to a long-awaited turn to better corporate governance. The announcements in June by Japan’s three megabanks that they will sell $5.4 billion of their strategic cross-shareholdings over three years mark a milestone in the decades-long effort to remodel Japanese corporate governance along more investor-friendly lines.

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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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FTC Attys On Kroger Case Get Extensions After IT Outage

Law 360 M&A

The administrative law judge overseeing the Federal Trade Commission's in-house challenge to Kroger and Albertsons' $25 billion merger has given the agency and the grocery behemoths two extra days on a couple of filing deadlines after the FTC said the worldwide Microsoft outage left several counsel laptops unusable.

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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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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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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 115
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China’s BYD Races Ahead With New Plants In Emerging Markets

Global Finance

BYD, the Chinese manufacturer of batteries and electric vehicles, is rapidly becoming the dominant force in the global EV space, despite the US and Europe railing against its disruptive effect on their domestic markets. In the last month, the buccaneering firm has made major plant announcements in Thailand and Turkey as it doubles down on competing with its US and European Union rivals.

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Google’s Plan to Buy Wiz for $23 Billion Falls Apart

NYT M&A

Wiz’s chief executive said the company walked away from a “humbling offer” and would pursue an initial public offering instead.

Start-ups 117
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Hiring Your Child to Work at Your Business This Summer

Machen McChesney

With school out, you might be hiring your child to work at your company. In addition to giving your son or daughter some business knowledge, you and your child could reap some tax advantages.

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FTC Chair Wary AI Tools Can Be Used For Corporate Collusion

Law 360 M&A

Federal Trade Commission Chair Lina Khan weighed in on a host of topics during a discussion Wednesday at the Ninth Circuit Judicial Conference, expressing concerns about the agency's high legal bills for expert witnesses and describing AI price-setting tools as a potential loophole for collusion.

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Helping boards manage geopolitical risk with Jon Huntsman Jr.

Mckinsey and Company

In a conversation with the board director and former diplomat, two McKinsey experts offer advice on how boards can guide their organizations through volatile times.

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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.

Net Debt 105
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2024 Paris Games: Can The Olympics Finally Claim Financial Victory? (Part 2)

Global Finance

In this two-part feature on the economics of the 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.

Finance 105
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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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How Beautycounter Fell Apart, Sinking Almost $700 Million With It

NYT M&A

When the private equity firm Carlyle bought Beautycounter, the skin care brand that people sold at kitchen tables, everything changed.

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Sidley, Cooley Craft Filter Maker's $1B Sale To IDEX Corp.

Law 360 M&A

Specialty equipment maker IDEX Corp. will buy industrial filter manufacturer Mott Corp. and its subsidiaries in a $1 billion all-cash deal led by Sidley Austin LLP and Cooley LLP, the companies announced Tuesday.

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How the aviation industry could help scale sustainable fuel production

Mckinsey and Company

Demand for sustainable aviation fuel could outpace supply by 2030 without a significant increase in capacity. Forward-leaning aviation players use a combination of strategies to source SAF, including equity investments, to help scale the ecosystem.

Equity 121
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Warner Bros Discovery's TNT Sports Counters Amazon With $1.9B NBA Broadcast Rights Bid: Report

Benzinga

In a recent development, Warner Bros Discovery’s (NASDAQ: WBD ) sports network, TNT Sports , has declared its intention to match one of the three bids for the broadcast rights of National Basketball Association games. What Happened: The decision is aimed at maintaining TNT Sports’ long-standing four-decade relationship with the NBA. While the network has not disclosed which NBA programming package it plans to match, a source close to the matter has revealed that TNT Sports is conside

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JP Morgan – World’s Best Bank 2024

Global Finance

Jamie Dimon Chairman and Chief Executive Officer JP Morgan Global Finance has announced its selection of global winners for the 26th annual World’s Best Banks , the 2024 World’s Best Bank is JP Morgan. “JP Morgan topped its global competition across numerous business lines through its deep expertise, leading client service, and broad product offerings.

Banking 98
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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.