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☆ Regulation, energy prices and geopolitics are hitting FDI into the euro zone: EY
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegulation, energy prices and geopolitics are hitting investment into the euro zone: EYJulie Linn Teigland, EMEIA area managing partner at EY, talks through her firm's report that found foreign direct investment in the euro zone had fallen 11% since the pandemic.

Persons: Julie Linn Teigland

☆ Sorry, America, it's looking like higher interest rates are going to stick around longer
▼ + stars: | 2024-04-30 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

The Federal Reserve is expected to once again hold interest rates steady on Wednesday. Some predictions also do not forecast any interest rate cuts until the second half of the year. AdvertisementIt's probably still not time for the nation's central bank to cut interest rates just yet. AdvertisementGiven that inflation is still above the Fed's 2% target, it's looking like rate cuts might not come until the second half of 2024. "Inflation has continued to run hot and there is no compelling need for the Fed to cut interest rates until they're comfortable with where inflation is headed."

Persons: Powell, —, It's, Julia Pollak, Jerome Powell, Gregory Daco, Greg McBride Organizations: Federal, Service, Fed Locations: Washington

☆ Fed policy makers need to be a bit more cautious, says EY Parthenon's Greg Daco
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed policy makers need to be a bit more cautious, says EY Parthenon's Greg DacoHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: EY, Greg Daco, Brian Sullivan, “ Organizations: Fed, CNBC

☆ The US economy started the year much slower than expected
▼ + stars: | 2024-04-25 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

US real GDP rose at an annualized rate of 1.6% in the first quarter. While a slowdown was expected for the first quarter, the forecast was 2.5%. AdvertisementAmid US job growth above forecasts and accelerating inflation, the US economy in the first quarter of this year slowed more than expected. A news release from the Bureau of Economic Analysis out Thursday showed US real gross domestic product rose at an annualized rate of 1.6%. "Looking ahead, we see the economy gently cooling as slower labor demand, easing wage growth, stubborn inflation, and tight credit conditions constrain private sector activity," Daco said.

Persons: —, Gregory Daco, EY, Daco Organizations: Service Locations: That's

☆ Markets 'spooked' by sticky inflation, says John Hancock's Emily Roland
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets 'spooked' by sticky inflation, says John Hancock's Emily RolandEmily Roland, John Hancock Investment Management co-chief investment strategist, and Greg Daco, chief economist at EY-Parthenon, and CNBC's Steve Liesman join 'The Exchange' to breakdown the latest GDP data.

Persons: John Hancock's Emily Roland Emily Roland, John, Greg Daco, Steve Liesman Organizations: John Hancock Investment Management Locations: EY

☆ Security of supply is the top priority for governments amid the energy transition, strategist says
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSecurity of supply is the top priority for governments amid the energy transition, strategist saysAndy Brogan, global energy and resources strategy leader at EY Parthenon, comments on the outlook for the energy transition.

Persons: Andy Brogan Organizations: Security

☆ GDP report Thursday expected to show economy still growing at a solid pace
▼ + stars: | 2024-04-24 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Gross domestic product, the sum of all goods and services produced across the sprawling U.S. economy, is expected to post a 2.4% annualized growth rate for the first quarter, according to the Dow Jones consensus forecast. If that estimate is accurate, it would mark a step down from the 3.4% growth rate in the fourth quarter of 2023 and just a touch less than last year's 2.5% full-year growth rate. "The U.S. economy is still very resilient, supported by a solid labor market that continues to support robust income growth and in turn, consumer spending activity," EY-Parthenon chief economist Gregory Daco said. "We are seeing a little bit of cooling in terms of the consumer spending momentum. But there isn't any form of retrenchment that would be alarming in terms of future income trends and in terms of future consumer spending trends."

Persons: Dow, Gregory Daco, Daco, Goldman Sachs, Goldman, Spencer Hill Organizations: Wall, Gross, Atlanta Federal, Commerce, Commerce Department Locations: U.S, Atlanta

☆ Rise of Hate Spending: Americans Detest High Prices but Keep Shopping
▼ + stars: | 2024-04-21 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

According to experts I talked to, the surge in hate spending can be attributed to various factors. They're aware prices aren't going back to 2019 levels, and given everything everyone's just been through, they may as well live it up. She told me that she often finds herself outraged by prices — and then ultimately succumbs to the forces of capitalism. It's easy to say you want to cut back on spending, given high prices, but when a friend asks whether you want to go shopping, it's hard to say no. Hart, the Illinois writer with a brand-new Stanley cup, sees some of her spending as a way to reclaim power.

Persons: Christ, Lydia Boussour, they're, everyone's, Jordan Hart, Hart, Boussour, —, they've, it's, acclimated, It's, Claire Tassin, Tassin, There's, Taylor Swift, jonesing, people's, Ravi Dhar, Dhar, he'd, he's, I've, she'd, she'll, Stanley Organizations: Retail, Consumers, Morning, Center, Yale School of Management Locations: America, Illinois, YOLO splurging, Europe, York

☆ What it's like to work at Deloitte, PwC, KPMG, and EY: pay, perks and RTO policies
▼ + stars: | 2024-04-20 | by ( George Glover | ) www.businessinsider.com time to read: 1 min

DeloitteDaniel Leal/AFP via Getty ImagesBusiness Insider analyzed disclosure data from the US Office of Foreign Labor Certification to work out how much each member of the Big Four pays its employees. At Deloitte, salaries range from $49,219 a year for entry-level analysts to as much as $875,000 a year for senior principals. The firm's US operation employs just over 170,000 people across 80 offices, with its headquarters at 30 Rockefeller Plaza in New York. Employees are entitled to 16 weeks of paid parental leave, can take three or six-month sabbaticals at 40% of their base pay, and are eligible for a wellbeing subsidy worth up to $1,000. Deloitte doesn't have a set RTO policy, although this may vary from team to team.

Persons: Daniel Leal, Deloitte doesn't Organizations: Getty Images, of Foreign Labor, Big, Deloitte, Rockefeller, Employees Locations: New York

☆ 'Hard to Ignore': Jefferies says this cybersecurity stock could double after 75% rise in the past year
▼ + stars: | 2024-04-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

After two consecutive dreadful years of returns, investment bank Jefferies is forecasting a rebound in the share price of Darktrace , a British cybersecurity company. DARK-GB 1Y line The cybersecurity company reported third-quarter results on April 11 that exceeded expectations. Following the better-than-expected results, Jefferies raised its price target for Darktrace to 890 pence from 550 pence, reiterating its "buy" rating. The consensus price target of analysts polled by FactSet points to a 24.4% upside potential for the stock. Brennan's price target is the biggest among all analysts covering the stock.

Persons: Darktrace, Charles Brennan, —, Jefferies, FactSet Organizations: Jefferies, Revenue Locations: British, London, U.S

☆ Accounting jobs are in high demand—many pay over $100,000 and can be done from home
▼ + stars: | 2024-04-12 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

Many accountants resign due to inadequate pay and limited opportunities for career advancement, according to a recent report from The Institute of Management Accountants (IMA) and Robert Half, which surveyed over 1,200 current and former accounting and finance professionals. Britton says accountants leaving the field are often moving into jobs in finance and technology. To alleviate the talent shortage, more companies are increasing entry-level salaries for finance and accounting roles, offering referral bonuses and hiring temporary workers, the IMA and Robert Half report found. Many of these jobs offer remote or hybrid options, Robert Half found. Britton anticipates that the percentage of accounting jobs that are remote or hybrid will likely grow in the coming months as employers adjust their recruitment strategies to attract more talent.

Persons: Robert Half, Brandi Britton, Britton, they're, you've, Deloitte —, Julia Pollak, — Organizations: Wall Street, The Institute of Management Accountants, IMA, Public, BLS, Accountants, Bloomberg, Big, KPMG, PWC, EY, Deloitte, CNBC Locations: U.S, FlexJobs

☆ Here's why JPMorgan's top brass are doubtful that a major M&A comeback is on the horizon
▼ + stars: | 2024-04-12 | by ( Reed Alexander | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWall Street has been hopeful that M&A activity will return this year as rates fall. On Friday, the bank reported $41.9 billion in revenue for the quarter, up 9% year-over-year — a figure that surpassed analysts' expectations. The retreat from dealmaking produced a nine-year low in terms of the number of individual M&A transactions in the quarter, LSEG reported. Dimon's warningsThe comments from JPMorgan's top brass come as Dimon issues warnings about the prospect of a gloomier economic environment.

Persons: —, Jamie Dimon, Jeremy Barnum, Barnum, Biden, that's, Goldman Sachs, Stephan Feldgoise, LSEG, EY, Dimon, Reed Alexander Organizations: Service, JPMorgan, Business, London Stock Exchange Group Locations: megamergers, dealmaking, Asia, Pacific

☆ These are the 11 startups most likely to IPO this year, according to analysts.
▼ + stars: | 2024-04-11 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +1 min

Rising interest rates and limited VC funding have slowed IPOs in the tech sector. With Instacart, Arm, and Klaviyo going public, the IPO market could be reviving this year. BI profiled 11 startups that are expected to IPO, according to PitchBook's Exit Predictor. Initial public offerings (IPOs) have slumped since the record-breaking 2021, when the the likes of likes of Roblox, UiPath, and Rivian listed. The market hasn't been helped by rising interest rates and a slump in venture capital funding, which has slowed down activity in late-stage startups.

Persons: —, It's Organizations: Service, Business

☆ I drove the 2024 Tesla Model 3. It's a big improvement from older versions, but the Model Y is still the better buy.
▼ + stars: | 2024-04-09 | by ( Andrew Lambrecht | ) www.businessinsider.com time to read: +8 min

Andrew Lambrecht, who owns a 2019 Tesla Model 3, test drove the new 2024 Model 3. He says the more spacious Model Y, which is still eligible for a tax credit, is the better buy. Given the Model 3's relatively long lifecycle without any significant updates, the refreshed 2024 Model 3 has been long-awaited. The Model 3's new lookThe nose of the 2024 Tesla Model 3. Andrew LambrechtThe 2024 Tesla Model 3 is a massive improvement over the outgoing one.

Persons: Andrew Lambrecht, —, Tesla Charlotte, you've, Tesla Organizations: Tesla, Service, Audi

The "Big Four" accounting firms employ about 1.3 million people worldwide. Business Insider analyzed data to determine how much accountants and consultants are paid at these firms. AdvertisementThe so called "Big Four" accounting firms — Deloitte, PricewaterhouseCoopers (PwC), KPMG, and Ernst & Young (EY) — are known for paying their staff high salaries. Business Insider analyzed the US Office of Foreign Labor Certification's 2023 disclosure data for permanent and temporary foreign workers to find out what PwC, KPMG, EY, and Deloitte paid US-based employees for jobs ranging from entry-level to executive roles. AdvertisementHere's how much Deloitte, PwC, KPMG, and EY paid their hires.

Persons: —, Ernst, Young, EY Organizations: Service, Deloitte, PricewaterhouseCoopers, KPMG, Business, of Foreign Labor, EY, PwC

☆ March jobs report comes in hot: The US economy added 303,000 positions last month
▼ + stars: | 2024-04-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Instead, on Friday, yet another jobs report defied expectations. “Today’s jobs report raises the possibility that rather than slowing down, job growth might be holding steady,” Nick Bunker, Indeed Hiring Lab’s economic research director for North America, said in a statement. Last month’s job growth was driven by industries such as health care (+72,300 jobs); government (+71,000 jobs); leisure and hospitality (+49,000 jobs); and construction (+39,000 jobs). President Joe Biden touted March’s jobs report Friday. With today’s report of 303,000 new jobs in March, we have passed the milestone of 15 million jobs created since I took office.

Persons: Nick Bunker, Joe Biden, “, ” Biden, —, Greg Daco, ”, ” Daco, we’ve, Erica Groshen, ” Brett House, Daco, Price Organizations: New, New York CNN, of Labor Statistics, Federal Reserve, North, ”, CNN Business, Cornell University, CNN, Brookings Institution, Congressional, Columbia Business School, Fed, Labor Locations: New York, North America, EY, United States

☆ Shopify has poached at least two dozen employees from Salesforce as it pushes into enterprise e-commerce
▼ + stars: | 2024-04-04 | by ( Madeline Stone | ) www.businessinsider.com time to read: +9 min

Holly Dresden joined Shopify as head of enterprise merchant success in December after six years with Salesforce Commerce Cloud. Evan AgostiniAs it moves further into enterprise, Shopify hasn't always been subtle about zeroing in on Salesforce as a competitor. It recently launched a webpage comparing its platform with Salesforce Commerce Cloud, encouraging merchants to "join the mass migration" of brands moving from Salesforce to Shopify. But winning over enterprise retailers requires a different approach, and it's one where Salesforce has more years of experience than Shopify. Talking the enterprise talkPoaching employees from Salesforce isn't the only way Shopify has made an effort to win over enterprise customers.

Persons: —, Shopify, Kal Stephen, Holly Dresden, Everlane, Marc Benioff, Evan Agostini, hasn't, Michael Affronti, we've, Affronti, Shopify's, Salesforce, We've, It's, Rick Watson, Watson, Demandware, Oppenheimer, Ken Wong, Wong, Harley Finkelstein Organizations: Service, Salesforce Commerce, Business, Salesforce, Adobe, SAP, Mattel, Commerce, RMW Commerce Consulting, Accenture, IDC, Manhattan Associates Locations: Salesforce, Demandware

☆ Chair Powell says the Fed isn’t more tolerant of higher inflation. Some economists disagree
▼ + stars: | 2024-03-31 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Some economists interpreted that as a sign that the Fed is now more tolerant of higher inflation. Powell pushed back on the perception that the central bank has grown more comfortable with inflation being higher for longer than expected in his post-meeting news conference. and my sense coming out of this month’s meeting was that Fed Chair Powell wants to get this easing cycle going sooner rather than later. What’s allowing the Fed to be patient or more tolerant of higher inflation? They’re willing to essentially look through some of the bumpiness in the inflation data at the beginning of the year.

Persons: Jerome Powell, That’s, Powell, “, ” Powell, “ We’re, Mohamed El, Erian, ”, Bell, Lydia Boussour, they’re, What’s, we’ve, Nathaniel Meyersohn, Read, Levi Strauss, Tupperware Organizations: Washington CNN, Federal Reserve, Financial Times, Fed, Home Depot, Home, P Global, Institute for Supply Management, Maine Foods, Dave, Buster’s Entertainment, US Labor Department, US Commerce Department, Stanford University Locations: EY, Cal

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin maintains $70,000, and KuCoin charged with anti-money laundering violations: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Paul Brody, global blockchain leader for EY, discusses the recent resurgence of crypto adoption and what to expect from Ethereum in the near future.

Persons: explainers, Paul Brody, EY Organizations: CNBC Crypto, CNBC

☆ EY's global blockchain leader 'very optimistic' spot ether ETFs will get approved
▼ + stars: | 2024-03-26 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY's global blockchain leader 'very optimistic' spot ether ETFs will get approvedIn a wide-ranging interview with CNBC Crypto World, Paul Brody, global blockchain leader for EY, discusses the recent resurgence of crypto adoption and what to expect from Ethereum in the near future. The author also explains some of the use cases outlined in his book "Ethereum for Business: A Plain-English Guide to the Use Cases that Generate Returns from Asset Management to Payments to Supply Chains."

Persons: Paul Brody, EY Organizations: CNBC, Business, Asset Management

☆ Gen Z Is Primed to Succeed at Starting Their Own Small Business
▼ + stars: | 2024-03-25 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

He was able to scale the business to more than $600,000 in revenue by 2018, when he graduated from high school. Before the internet, starting a business was a serious hassle. The problem wasn't that people weren't interested in starting a business: A 2016 EY study found that 62% of 18- to 34-year-olds had toyed with venturing into business ownership. That has made starting a business all the more appealing — and affordable — for prospective entrepreneurs. And with the plethora of digital tools we have today, starting a business is more accessible than ever.

Persons: Luke Lintz, Lintz, Bernhard Schroeder, Schroeder, Gen Zers, —, Martin Warner, Warner, GoDaddy, HighKey, Nicki Minaj, Kevin Hart, Khloé Kardashian, Tom Peters, Peters, " Schroeder, ZenBusiness, Gen, Zers, he'd Organizations: Apple, Shipping, Lavin Entrepreneurship, San Diego State University, Entrepreneurship, Dynamics Statistics, Business, Fast Company, Small Business Administration Locations: North America, China

☆ Nvidia's AI ambitions in medicine and health care are becoming clear
▼ + stars: | 2024-03-24 | by ( Michelle Castillo | ) www.cnbc.com time to read: +3 min

Last week, Nvidia announced deals with Johnson & Johnson for use of generative AI in surgery, and with GE Healthcare to improve medical imaging. "Health care, whether it's biotechnology, chemicals, or drug discovery is a very powerful area." About 41 percent of biotech CEOs surveyed by EY in late 2023 said they were looking at "concrete" ways generative AI could be used for their companies. "This is very high for my experience, having been 30 years in this industry," Ural said. It also partnered in 2021 with Schrödinger for drug discovery.

Persons: Johnson, Raj Joshi, It's, EY, it's, Colette Kress, Roche's Genentech Organizations: Nvidia, Johnson, GE Healthcare, Companies, NVIDIA, NVIDIA BioNeMo Locations: Arda, Americas, Ural, NVIDIA Clara

STR | AFP | Getty ImagesIn the race against Tesla for the global electric car market, Chinese automaker BYD is pushing hard overseas despite rising barriers to the U.S. market. Given policy uncertainty around Chinese EV exports to major markets like the U.S. and Europe, BYD is seeking to bolster overseas sales by moving production to regions perceived as more friendly. The U.S. has tried to support adoption of electric cars domestically, but sales penetration is well below that of China. EY predicts the electric car market in the region will grow exponentially to at least $80 billion a year in sales in the next decade. The rapid growth of BYD and other Chinese electric car companies has other automakers worried.

Persons: Tesla, BYD, Xiao Feng, Biden, it's, EY, Alvin Liu, Liu, BYD's, Sime Darby, Stella Li, Reuters BYD, Bill Russo, CNBC's, Li Organizations: AFP, Getty, Toyota, Counterpoint Research, Tesla, Sime, Americas, Reuters, Alliance for American Manufacturing, U.S Locations: Taicang Port, Suzhou, China's, Jiangsu, U.S, Shenzhen, Europe, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, China, Marklines, Southeast Asia, Singapore, Philippines, Malaysia, Mexico, Americas, North America, United States, Canada, Washington

☆ Fintech Naro wants to take advantage of Europe's ETF boom. Check out the 10-slide pitch deck it used to raise $3 million.
▼ + stars: | 2024-03-14 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Naro, a German fintech startup, has raised $3 million in pre-seed funding. Cologne-based Naro, founded in 2022, wants to take advantage of the boom in exchange-traded funds — or ETF — products in Europe to offer white-label services to various banks, funds, and brokers. Naro's pre-seed funding round was led by Berlin's La Famiglia alongside Discovery Ventures, plus investment from Robin Capital, Angel Invest, and various angels. Funding will go towards expanding the startup's current team of 10 staff as it looks to partner with potential customers looking to build out products within their existing infrastructure. Naro's business plan subsequently changed from its original slides, you can see a version of its pre-seed pitch deck below:

Persons: Chris Püllen, Püllen, Naro's, Berlin's La Organizations: Business, Trade Republic, Discovery Ventures, Robin Capital, Angel Invest, Credit Suisse Locations: Naro, Cologne, Europe, Germany

☆ Former EY partner shares how he climbed the corporate ladder to walk away from it all and become a math teacher
▼ + stars: | 2024-03-14 | by ( Marylou Costa | ) www.businessinsider.com time to read: +6 min

I made my way up from a senior consultant to manager and then a director," Swaroop told Business Insider. Swaroop, alongside many of his fellow Arthur Andersen & Co employees, moved to EY after it absorbed some of the Arthur Andersen & Co operations. 'I was at the right place at the right time'At EY, Swaroop shone. Swaroop told BI he read about Lucy Kellaway, the Financial Times editor who left journalism to become a trainee teacher. AdvertisementThree years on, Swaroop told BI he feels energized and inspired in his new career — even if he now earns a fraction of what he used to.

Persons: —, Deepak Swaroop, Swaroop, Arthur Andersen, India Swaroop, EY, Lucy Kellaway, Kellaway, wouldn't Organizations: Service, Harvard, MIT, Business, Arthur Andersen & Co, Arthur Andersen &, Enron, Automation, Financial Times Locations: EY, London, India, Delhi, Mumbai, Europe, East, Africa

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