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☆ Salesforce's behind-the-scenes co-founder is tackling Slack as software company turns 25
▼ + stars: | 2024-03-09 | by ( Jordan Novet | ) www.cnbc.com time to read: +16 min

"The V2MOM had nothing about generative AI," Parker Harris, who co-founded the company with Benioff, told CNBC in an interview. Harris, a Salesforce board member and now the technology chief of Slack, which Salesforce bought in 2021, said he'd rather avoid the limelight. Without the Data Cloud, Harris told CNBC, "I think we would have been in a much worse place." He told Benioff he'd redo the plan, the person said. They'll be talking more frequently, as Harris said they're about to kick off weekly meetings on Slack and Salesforce integrations.

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☆ British telco giant BT expects to launch 5G standalone — or 'true' 5G — later this year
▼ + stars: | 2024-03-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Jason Alden | Bloomberg | Getty ImagesBARCELONA — British telecommunications giant BT says it expects to launch its first so-called "standalone 5G" network in 2024. Howard Watson, BT's chief technology officer, told CNBC that the telco group plans to switch on its standalone 5G network, which is often referred to in the industry as "true" 5G, later this year. "We've already been ensuring that the SIM cards that our customers have in their current 5G devices can do 5G standalone," Watson added. 5G standalone is different from 5G Advanced, though. 5G standalone refers to the development of a 5G network that isn't being built on top of 4G cores.

Persons: Jason Alden, Howard Watson, Watson, Milind Kulkarni, Kulkarni Organizations: BT Group, Bloomberg, Getty, BT, CNBC, Mobile, Congress, Swedish, Ericsson, Qualcomm, Apple, Samsung Locations: Reading, BARCELONA, British, Barcelona, Europe

☆ These Oil Giants Don’t Seem Tempted by Merger Mania
▼ + stars: | 2023-11-02 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Shell released solid third-quarter results on Thursday. Photo: Jason Alden/Bloomberg NewsOil bosses in Europe are intent on closing the valuation gap with their American rivals. This doesn’t automatically mean they will follow Exxon Mobil and Chevron down the megamerger path. “M&A is not really on our minds, if I’m honest,” BP interim boss Murray Auchincloss said on the company’s earnings call this week when asked for his reaction to Exxon Mobil and Chevron’s recent multibillion-dollar spending spree.

Persons: Shell, Jason Alden, Murray Auchincloss Organizations: Bloomberg News Oil, Exxon Mobil, Chevron Locations: Europe

☆ BOE Leaves Key Interest Rate At 5.25%
▼ + stars: | 2023-10-16 | by ( Paul Hannon | ) www.wsj.com time to read: 1 min

A city worker passes the Bank of England (BOE) in the City of London, UK, on Monday, Oct. 16, 2023. Photo: Jason Alden/Bloomberg NewsThe Bank of England’s policy makers Thursday left their key interest rate unchanged for the second straight meeting, but said they don’t expect to ease policy soon. The decision to hold the rate at 5.25% was backed by six members of the Monetary Policy Committee, while three voted for a rise in the key rate to 5.5%. At their last meeting in September, four members voted for a higher rate. Prior to that decision to hold, the BOE had raised its key rate in 14 straight meetings.

Persons: BOE, Jason Alden Organizations: Bank of England, City of, Bloomberg, The Bank of, Monetary, Committee Locations: City, City of London

☆ Quantitative tightening: What happens when $2 trillion is sucked out of the global economy
▼ + stars: | 2023-05-19 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

“Quantitative tightening,” or QT, by top central banks will suck $2 trillion in liquidity out of the financial system over the next two years, according to a recent analysis by Fitch Ratings. Investors and banks calibrate their strategies to the amount of money in the financial system, he noted. Then, central banks started withdrawing liquidity from the financial system. Even worse, many banks have large holes on their balance sheets because central banks have simultaneously jacked up interest rates. While government debt levels have skyrocketed in recent years, the cost of servicing that debt has been tamped down by the willingness of central banks to buy large chunks of it.

☆ Barclays Names HSBC Executive as Compliance Chief
▼ + stars: | 2023-04-21 | by ( Mengqi Sun | ) www.wsj.com time to read: 1 min

Barclays is navigating regulatory probes and a downturn in deals. Photo: Jason Alden/Bloomberg NewsBarclays PLC has hired a new chief compliance officer from rival HSBC Holdings PLC, as the bank navigates a deal-making downturn and continuing regulatory investigations into former Chief Executive Jes Staley ’s ties with convicted sex offender Jeffrey Epstein . London-based Barclays said Thursday that it has named Kirsty Everett as its new compliance chief, ending a few months of search. Ms. Everett is joining from HSBC, where she was group head of compliance after previously holding other senior compliance roles. She will start July 1, subject to regulatory approval, Barclays said.

☆ WPP, Like Ad-Company Rivals, Says It Expects 2023 Growth
▼ + stars: | 2023-02-23 | by ( Megan Graham | ) www.wsj.com time to read: +2 min

WPP PLC is the latest major advertising holding company to say it expects continued growth in 2023 as clients keep spending on its services. PREVIEWWPP said like-for-like revenue less pass-through costs increased 6.9% in 2022 and 6.4% in the fourth quarter. Total revenue in 2022 was £14.4 billion, equivalent to about $17.3 billion, while revenue less pass-through costs was £11.8 billion. Chief Executive Mark Read said that consumers have continued to spend, and clients have continued to invest in their brands. Omnicom Group Inc. and Publicis Groupe SA both said they expect organic revenue growth this year of 3% to 5%.

☆ The UK is fiscally unstable, says North Sea oil CEO
▼ + stars: | 2023-01-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

A British Union flag flies near Big Ben at the Palace of Westminster, in London, UK, on Monday, Oct. 24, 2022. Jason Alden | Bloomberg | Getty ImagesThe U.K. is fiscally unstable and this has led the government to indulge in "short-termism" by slapping oil majors with windfall taxes, according to Amjad Bseisu, CEO of EnQuest . In November, the British government raised an existing windfall tax on oil company profits from 25% to 35% until 2028. This takes the overall levy rate for North Sea producers to 75%, once the 40% corporation tax charge is applied. U.K. Prime Minister Rishi Sunak initially introduced the windfall tax in May, when he was finance minister in Boris Johnson's government, prior to Johnson's resignation in July.

☆ Saudi Arabia can 'bridge the gap' between the U.S. and China, finance minister says
▼ + stars: | 2023-01-16 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

watch nowSaudi Arabia can help be a conduit between the U.S. and China at a time of heightened geopolitical tensions, Saudi Finance Minister Mohammed al-Jadaan said Monday at the World Economic Forum in Davos, Switzerland. "I really think that we need to focus on collaboration, cooperation, avoiding more geopolitical tensions, and calling for calm and political solutions to geopolitical tensions," al-Jadaan told CNBC's Hadley Gamble. Mohammed Al-Jadaan, Saudi Arabia's finance minister, at the World Economic Forum in Davos, Switzerland Jason Alden | Bloomberg | Getty ImagesAsked about Saudi Arabia's ability to facilitate dialogue between adversarial powers like the U.S. and China, al-Jadaan said: "I would say absolutely yes. We have a very strategic relationship with the U.S., and we have a close relationship with China, and we think we can bridge the gap." The U.S. has military installments in Saudi Arabia, selling advanced weaponry and providing training and joint operations with the Saudi military.

☆ U.K. Tax Change to Yield Higher Costs, but Much-Needed Certainty for Companies
▼ + stars: | 2022-12-04 | by ( Jennifer Williams-Alvarez | Nina Trentmann | ) www.wsj.com time to read: +6 min

Now, under a new prime minister, the government is pledging fiscal austerity, accompanied by an increase in the corporate tax rate to 25%. Photo: Agence France-Presse/Getty ImagesWith the latest change, the corporate tax rate has flip-flopped four times in less than a year. The tax increase, from the current rate of 19%, will apply to companies with annual profit of more than £250,000, equivalent to more than $307,000. We know it is increasing to 25%.”The U.K. government’s change brings the corporate tax rate in line with those of other large economies. Photo: Jason Alden/Bloomberg NewsU.K. companies’ costs are rising on multiple fronts.

☆ U.K. Tax Change to Yield Higher Costs, But Much-Needed Certainty For Companies
▼ + stars: | 2022-12-04 | by ( Jennifer Williams-Alvarez | Nina Trentmann | ) www.wsj.com time to read: +6 min

☆ Advertisers crack jokes about the end times and turnip lattes as inflation bites
▼ + stars: | 2022-11-08 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

London CNN Business —A woman maneuvers her car onto a street called “Wits’ End.” The sky is an ominous red, and strange things are happening. “Every advertiser is aware the customers they’re talking to are feeling cost of living pressures,” said Matt Bourn, director of communications for the Advertising Association, a UK industry group. In a recent Dunelm ad, a woman aims to cozy up her home after navigating a topsy-turvy drive up a street called Wits' End. “We are seeing brands who want to make sure they’re keeping consumers during this time,” said Jeanine Poggi, editor of Ad Age. Jason Alden/Bloomberg/Getty ImagesBut companies will be expected to display an awareness about the pervading economic anxiety that’s affecting their customers.

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