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☆ A lawsuit accuses Bain Capital's PowerSchool of trafficking in student data. The edtech giant says everything it does is legal.
▼ + stars: | 2024-11-04 | by ( Laura Italiano | ) www.businessinsider.com time to read: +10 min

PowerSchool sells student data without parents' informed consent, a federal lawsuit alleges. Related storiesPowerSchool spokesman Austin Zerbach told BI that no PowerSchool product sells any form of student data. The public disclosures of PowerSchool say the edtech company "may" collect data such as "extracurricular program membership" and "student assessments." AdvertisementTechnology can easily re-identify anonymized student data, said Chad Marlow, senior policy counsel at the ACLU, where he focuses on privacy, surveillance, and technology issues. "No PowerSchool product, including Connected Intelligence P20W, sells any form of student data," the spokesman said.

Persons: PowerSchool, —, It's, Emily Cherkin, Cherkin, Hardeep Gulati, PowerSchools, Austin Zerbach, Zerbach, it's, — they're, Julie Liddell, Chad Marlow, Marlow, Liddell, James Donato, PowerSchool's Bain, The Bain Organizations: Service, Bain Capital, PowerSchool, Technology, ACLU, Data Systems, US, Apple, Vista Equity Partners, Vista Equity, Onex Partners, NYSE, The, KKR, Co, Instructure Holdings, Inc Locations: San Francisco, Seattle, Folsom , California, Boston, Austin , Texas, Salt Lake City

☆ 8-year-old girl takes car on 25-minute joyride to Target
▼ + stars: | 2024-09-17 | by ( Samantha Kubota | ) www.nbcnews.com time to read: +1 min

An 8-year-old Ohio girl is home safe after she took her mother’s car and drove to Target 25 minutes away as her family and police searched for her. They reported that the 8-year-old was last seen by the family nearly two hours earlier. The Bainbridge Target is just over 11 miles southwest of the child’s home, according to the police report. Officers found the girl inside of the Target and her family came to pick her and the car up. “Not sure what she bought or if she was even able to use her Target app to save 5%,” Bedford Police Dept.

Persons: TODAY.com, “, ” Organizations: Bedford Police Department, . Police, Google, Target, Facebook, ”, ” Bedford Police Locations: Ohio, Bainbridge, ” Bedford

Over the last several years, such upstart consumer brands have been gaining market share in China and South Korea, according to a report from Bain and Company released Monday. China and South Korea stood out as markets where insurgent brands were doing particularly well. In South Korea, incumbent brands dominated just four sectors — fragrances, confectionery, diapers and bottled water, the report showed. High penetration of e-commerce in Indonesia (26%) and Singapore (13%) also gave insurgent brands a boost. Incumbent brands still hot

Persons: David Zehner, Bain, Zehner, There's, It's Organizations: Future Publishing, Bain and Company, Bain, CNBC Locations: Qingzhou city, East China's Shandong, Asia, China, South Korea, Pacific, South, Indonesia, Singapore, Malaysia, Philippines, India, confectionary

☆ China's luxury market is bouncing back with new areas of opportunity
▼ + stars: | 2024-01-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

The company's results showed that despite some resumption of overseas travel, more of China's consumers are buying luxury products at home. watch nowThe mainland China personal luxury market grew by about 12% last year to more than 400 billion yuan ($56.43 billion), according to consulting firm Bain & Company. "All of that data points to the importance of the Chinese luxury consumer and the China market," she told CNBC. Luxury brands have increasingly turned to online channels to ensure customer engagement, said Xing from Bain. As companies compete for a slice of the Chinese consumer market, one emerging segment is bedding and fine linen.

Persons: Louis Vuitton, they're, LVMH, Bernard Arnault, that's, Bain, Weiwei Xing, Cartier, Richemont, Burkhart Grund, Xing, Ding Shizhong, Ashley Dudarenok Organizations: Future Publishing, Getty, BEIJING, Bain & Company, CNBC, Consumers Locations: Shanghai, China, Hong Kong, Greater China, Macao, Bain

BAINBRIDGE, Ga. (AP) — Some local residents and an animal-rights group are protesting plans for a monkey-breeding facility in southwest Georgia. Political Cartoons View All 253 ImagesThe Bainbridge facility would provide a domestic source of monkeys to offset imports, the company said. “PETA urges Bainbridge officials to withdraw their support and shut down this project before a shovel hits the dirt," she wrote. The company and local officials said the nonprofit and community's concerns are baseless. Local officials in December agreed to property tax breaks for the project — waiving them for the first 10 years and then gradually decreasing tax breaks until they end after 20 years.

Persons: didn’t, Charles River, we’d, ” Ted Lee, Lisa Jones, Engel, ” Jones, Bainbridge, Rick McCaskill, ” McCaskill Organizations: Council, Medicine, Charles River Laboratories, PETA, Development Authority of, Local Locations: BAINBRIDGE, Ga, Georgia, Bainbridge, Cambodia, Brazoria County , Texas, Houston, U.S, Development Authority of Bainbridge & Decatur County

☆ Japan's Kioxia reports Q2 loss, says prices have bottomed out
▼ + stars: | 2023-11-14 | by ( Sam Nussey | ) www.reuters.com time to read: +2 min

The result at Bain Capital-backed Kioxia, formerly Toshiba Memory, compares with a loss of 130.8 billion yen three months earlier. Merger talks between Kioxia and Western Digital (WDC.O) have stalled, Reuters reported previously, after Kioxia investor SK Hynix (000660.KS) said it did not back the deal. Selling prices have bottomed out, Kioxia said, pointing to expected higher shipments of smartphones and PCs next year. Revenue fell quarter-on-quarter with Kioxia saying the smaller loss was because of higher average selling prices with a boost from the weaker yen. Separately, Toshiba (6502.T), which holds a stake in Kioxia after selling its chip unit to the Bain-led consortium in 2018, posted a 26.7 billion yen net loss in the second quarter.

Persons: Kioxia, Bain, Sam Nussey, Tom Hogue Organizations: Taipei, REUTERS, Rights, Bain Capital, Toshiba, Western, Reuters, SK Hynix, Samsung Electronics, Revenue, Japan Industrial Partners, Thomson Locations: Taipei, Taiwan, Kioxia, KS

WASHINGTON (AP) — The United States and China are the two global economic heavyweights. The meeting will bring together 21 Pacific Rim countries, which collectively represent 40% of the world’s people and nearly half of global trade. Indeed, imports of Chinese goods to the United States were down 24% through September compared with the same period of 2022. Xi, too, has reason to try to restore economic cooperation with the United States. “This will not be an easy sell.’’Complicating matters is that the tensions between Washington and Beijing go well beyond economics.

Persons: Joe Biden, Xi, Eswar Prasad, “, Prasad, Donald Trump, Trump, Biden, Chad Bown, Janet Yellen, Lifeng, —, ” Yellen, ’ ’, Wendy Cutler, Raja Krishnamoorthi, ’ ’ Krishnamoorthi, ’ Organizations: WASHINGTON, International Monetary Fund, “, Cornell University, Economic Cooperation, Biden, World Trade Organization, U.S, Peterson Institute for International Economics, Prosperity, Trump, Group, Bain & Co, Micron, IMF, United, Asia Society Institute, Chinese Communist Party, Republicans, Pew Research Center, Center for Strategic, International Studies, Rep, Illinois Democrat Locations: United States, China, Washington, Beijing, U.S, Ukraine, Gaza, Asia, San Francisco, Shanghai, Hong Kong, Xinjiang, India, Philippines, South China, Taiwan, Chinese, Kenya, Nigeria, Illinois

☆ China's biggest shopping festival is set for a tepid 2023, survey finds
▼ + stars: | 2023-11-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — Most consumers in China are planning to keep a lid on spending during this year's Singles Day shopping festival, which ends Nov. 11. That's according to a survey of more than 3,000 consumers in the country by Bain and Company, released Tuesday. Originally launched by Chinese e-commerce giant Alibaba , Singles Day has expanded from a one-day shopping festival into a multi-week period of shopping promotions across different online platforms in China. Bain estimates that including other platforms, Singles Day e-commerce GMV rose by 3% to 934 billion yuan ($128.25 billion) in 2022. When factoring in another 181 billion yuan in livestreaming and content-led e-commerce, the total GMV for last year's festival topped 1 trillion yuan ($140 billion), the report said.

Persons: Bain, —, James Yang, Yang, Livestreaming Organizations: Nurphoto, Getty, Bain and Company, Bain, Adobe Analytics Locations: Lianyungang, East China's Jiangsu Province, BEIJING, China, Chinese

☆ Vietnam's Masan secures $200 mln investment from Bain Capital
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: 1 min

Logo of the Bain Capital is screened at a news conference in Tokyo, Japan September 28, 2017. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsHANOI, Oct 2 (Reuters) - Vietnamese conglomerate Masan Group (MSN.HM) has secured funding of at least $200 million from Bain Capital, with the possibility of bringing in other investors to increase that to as much as $500 million, the two entities said on Monday. Proceeds, according to fast-moving consumer goods firm Masan would be used to strengthen the its financial positions. The investment would be in the form of convertible dividend preference share at a price of 85,000 dong ($3.50) per share which can be converted into ordinary shares at a 1:1 conversion ratio, Masan said in a statement. ($1 = 24,310.0000 dong)Reporting by Phuong Nguyen; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kyung, Phuong Nguyen, Martin Petty Organizations: Bain Capital, REUTERS, Rights, Thomson Locations: Tokyo, Japan, Rights HANOI, Masan

☆ Fact Check-Revived Titanic-Olympic ‘switch’ conspiracy sunk by ships’ differences
▼ + stars: | 2023-07-14 | by ( Reuters Fact Check | ) www.reuters.com time to read: +7 min

In particular, design differences between the Titanic and Olympic, visible in photographs of the two ships, are consistent with the wreckage of Titanic being, in fact, Titanic, and making the switch theory implausible. Another of the ships, Olympic, was put into service the year before, on June 14, 1911, and retired in 1935, with many of its fixtures and fittings auctioned off before it was scrapped. Magellan and its collaborator Atlantic Productions released sample images and animations of the Titanic wreck site scans to media outlets in May 2023, which can be viewed (here), (here). Olympic’s hull number was 400, and Titanic’s was 401. “Meanwhile,” Layton said, “the Titanic’s correct hull number, 401, has been observed at the wreck site and on items recovered from the wreck.

Persons: Robert John Welch, J, Kent Layton, ” Layton, Olympic’s, Layton, Titanic’s, Tim Maltin, Read Organizations: Titanic, Facebook, National Museums Northern, White Star Lines, Olympic, Belfast shipyard, Library of Congress, Bain News Service, Getty, Magellan Ltd, Atlantic Productions, HULL, Reuters Locations: Atlantic, Belfast , Northern Ireland, National Museums Northern Ireland, Southampton, England, New York, Titanic

☆ Generations Y, Z, and Alpha will become the biggest buyers of luxury goods by 2030, a new study shows
▼ + stars: | 2023-02-07 | by ( Felise Seah | ) www.businessinsider.com time to read: +4 min

Younger generations are set to become the largest buyers of luxury goods by 2030, the report says. Bain's study is based on information and data provided by the Fondazione Altagamma, an Italian luxury goods body with over 280 luxury companies as members. Millennials born between 1980 to 1994 are dubbed Generation Y, whereas Generation Z refers to those born between 1995 and 2009. These habits could also be a result of the booming luxury resale market, where Generation Y, Z, and Alpha are treating luxury goods as valuable investments. This is expected to make luxury goods much more accessible and bolster sales to Generation Y, Z, and Alpha consumers.

☆ India is learning to love electric vehicles — but they're not cars
▼ + stars: | 2023-01-09 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +6 min

Electric vehicle charging stations from Tata Power can be found on 350 of the 600 highways in India. Puneet Vikram Singh, Nature And Concept Photographer, | Moment | Getty ImagesWhen most people think about electric vehicles, they think cars. From brands like Tesla and Rivian in the United States, to Nio and XPeng in China, global sales of electric vehicles have surged. But in India, two-wheel vehicles such as scooters, mopeds and motorbikes, dominate the market. The starting price of electric two-wheel vehicles can be as high as 160,000 rupees.

☆ Gen Z and millennials are driving growth in the luxury-goods market, study shows
▼ + stars: | 2022-11-17 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +3 min

Gen Z and millennials are the largest drivers of the luxury-goods market, per Bain & Co.Gen Zers purchase luxury items three to five years earlier than millennials, the study found. The luxury-goods market is valued at more than a trillion dollars and is expected to withstand a recession. The luxury-goods market is forecast to be "recession-proof" in 2023, in part because of millennial and Gen Z consumers, who accounted for the growth of the market in 2022, the report found. Gen Zers are buying luxury goods earlier than past generations, and Gen Alpha is expected to follow suit. The luxury industry is more "customer-centric" and "multi-touchpoint" meaning there are more ways to access the luxury market, including digital and virtual shopping experiences.

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