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For now, by building in Ohio, Foxconn can offer customers access to U.S. federal incentives under the Inflation Reduction Act, Daiwa Capital Markets analyst Kylie Huang said. That's a selling point as traditional automakers juggle building gasoline-powered vehicles with plans to build their own EV capacity. "If they don't get one this year, next year will be more difficult," Huang said of Foxconn's search for an EV contract with a traditional automaker. "Sooner or later, maybe the top, traditional (automakers) say, 'Hey, I want to become a product marketing company. Foxconn wants to build around 300,000 EVs at the plant, Ian Upton, director of production control at Foxconn Ohio, told Reuters.

☆ Goldman Sachs arm among bidders in possible $10 bln Subway sale, Sky News says
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +1 min

March 4 (Reuters) - Goldman Sachs Group Inc's (GS.N) asset management arm is among the suitors for the U.S. based sandwich chain Subway, which has been put up for sale with an estimated $10 billion price tag, Sky News reported on Saturday. Bain Capital, TPG and TDR Capital are also among the other suitors, the report added. Subway, Bain Capital and TDR did not immediately respond to Reuters' requests for comment. The sandwich chain last month said it was exploring a possible sale of its business due to surging costs and mounting competition from deeper-pocketed rivals. The Wall Street Journal in January said a potential sale could value Subway at more than $10 billion.

☆ Goldman Sachs arm among bidders for $10 bln Subway sale - Sky News
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: 1 min

March 4 (Reuters) - Goldman Sachs Group Inc (GS.N)'s asset management arm, is among the suitors for the U.S. based sandwhich chain Subway, which has been put up for sale with an estimated $10 billion price tag, Sky News reported on Saturday. Bain Capital, TPG and TDR Capital are also among the other suitors, the report added. Reporting by Urvi Dugar in Bengaluru; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Salesforce is having its best day since 2020 after blowout earnings report
▼ + stars: | 2023-03-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Salesforce shares surged 12% on Thursday and headed for their biggest single-day rally since August 2020, after the cloud software vendor issued earnings and guidance that trounced analysts' estimates. After the close of regular trading on Wednesday, Salesforce reported fiscal fourth-quarter adjusted earnings of $1.68 per share, 23% higher than the consensus among analysts polled by Refinitiv. Alongside the earnings report, Salesforce said it's working with Bain on a business review, and the company announced the elimination of the board's committee on mergers and acquisitions. Rangan, who recommends buying the stock, raised his 12-month price target for the second time in a week after the report. WATCH: Salesforce earnings highlight how expectation beats can move markets, says Kari Firestone

☆ Salesforce shares jump 13% on better-than-expected forecast
▼ + stars: | 2023-03-01 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Salesforce shares soared 16% in extended trading on Wednesday after the cloud software maker beat Wall Street estimates on profit and issued a better-than-expected forecast. Here's how the company did:Earnings: $1.68 per share, adjusted, vs. $1.36 per share as expected by analysts, according to Refinitiv. $1.68 per share, adjusted, vs. $1.36 per share as expected by analysts, according to Refinitiv. Revenue: $8.38 billion, vs. $7.99 billion as expected by analysts, according to Refinitiv. Salesforce sees adjusted earnings per share for the full 2024 fiscal year of $7.12 to $7.14 and revenue of $34.5 billion to $34.7 billion.

☆ MediaMath seemed destined for a $1B fairy-tale exit. Instead, most early investors got nothing.
▼ + stars: | 2023-03-01 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +19 min

At its Halloween party in 2015, the adtech startup MediaMath seemed on the brink of greatness. The machine-learning revolution that took over the financial industry was finally happening in marketing, and many industry insiders considered MediaMath to be the hottest adtech company of the time. "We never came close to consummating such a deal with MediaMath nor entertained the purported valuation," said a representative for Singtel. The Trade Desk, the most comparable independent DSP company to MediaMath, was riding high after its 2016 initial public offering. The quasi-equity agreement was structured to protect Searchlight if MediaMath didn't perform to certain quotas or if things went south financially.

☆ Private equity has delivered the best returns during economic uncertainty: Bain & Co.
▼ + stars: | 2023-02-27 | 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 EmailPrivate equity has delivered the best returns during economic uncertainty: Bain & Co.Christophe de Vusser of Bain & Co. says it expects the same to happen "during this cycle."

☆ Meet Gen Zalpha, the powerful combo generation of teens and 20-somethings who are about to have major spending power
▼ + stars: | 2023-02-27 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

Generation Zalpha is a major target for marketers due to its talent and its spending power. The internet-native Zalpha generation is a prime target for brands for another reason: its potential spending power. Patrick, the Claire's CMO, recently told AdAge that Gen Alpha is like Gen Z "on steroids." While Gen Z is often described as having grown up online, Gen Alpha was born online. Experts therefore predict Gen Alpha will be more impatient than previous generations, because they'll expect their needs to be met instantaneously.

☆ Private-Equity Activity Could Rebound in Second Half of Year, Report Says
▼ + stars: | 2023-02-27 | by ( Chris Cumming | ) www.wsj.com time to read: 1 min

Private equity’s recent challenges in fundraising, deal making and exits don’t dim the long-term outlook for the asset class, a new report from Bain & Co. says. While interest rates have risen and many investors are worried about the future, a long-expected recession hasn’t arrived, and many private-equity deal makers are ready to get back to work, said Hugh MacArthur, chairman of private equity for the Boston-based consulting firm. “Fundamentally, nothing is broken in the global economy,” he said.

SINGAPORE, Feb 24 (Reuters) - U.S streaming giant Netflix Inc (NFLX.O) is making preparations to open an office in Vietnam after years of negotiations with authorities and completing a risk assessment, two sources with knowledge of the matter said. Netflix declined to comment in response to Reuters questions about its plans and its current operations in Vietnam. The office could open as early as late 2023 but will require a lengthy regulatory process that could take longer, according to one of the sources. As Vietnamese officials grow more confident in the country's rising consumer power, however, they have begun ramping up pressure on tech firms to abide by the rules. With the fastest growing middle class in Southeast Asia, Vietnam has become a key market for tech giants.

Regional rival Air New Zealand Ltd (AIR.NZ) also reported a swing to profit in the first half ended Dec. 31 on Thursday, along with a muted outlook. Qantas Chief Executive Alan Joyce said cost of living pressures would hit discretionary spending "at some point" but so far the airline expected robust demand into mid-2024 at least. Qantas said it was facing delays of up to six months in new aircraft deliveries from Airbus SE (AIR.PA) alongside other airlines around the world. The Australian carrier said it would bolster its fleet by acquiring some older Airbus planes and exercising nine options for A220 purchases to help meet travel demand growth. "Outlook for RASK is to reduce, however off what we estimate were elevated levels," said Citi analysts in a client note.

☆ Citadel joins a growing number of firms rolling out internships for undergrads looking for a fast track to the buy side
▼ + stars: | 2023-02-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Investment banks, you've been put on notice: The buy side is coming for your young talent. Insider's Emmalyse Brownstein has a full rundown on an undergrad internship at hedge fund Citadel for aspiring fund managers. The Citadel Associate Program (CAP) is a tough nut to crack, with an acceptance rate of only 1%. Click here learn more about Citadel's ultra-exclusive associate program, along with tips to get ahead during the application process. And if you're wondering who is left leading the world's largest hedge fund, look no further than our list of the fund's top 11 executives.

☆ Inside Citadel's internship program for aspiring traders that paves the way for a six-figure salary at the elite hedge fund after college
▼ + stars: | 2023-02-22 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +15 min

Citadel, one of the largest hedge funds, accepts just 1% of applicants to its associate program. Few college students know what a hedge fund is, let alone that they want to work for one. Its associate program lets aspiring fund managers skip the traditional two-year investment banking program that is usually a prerequisite for a hedge fund job. The associate program is different from Citadel's broader internship program. But the accelerated nature of the CAP program appealed to him over other opportunities, he said.

☆ See the 9-slide presentation that got General Catalyst to bet $5 million on a startup helping people with disabilities get accommodations at work
▼ + stars: | 2023-02-21 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +2 min

Managing requests for disability accommodations can be a tricky and time consuming process. Disclo grabbed $5 million in seed funding from General Catalyst in February using this pitch deck. In February, Atlanta-based Disclo raised $5 million in seed funding led by General Catalyst. Disclo provided Insider with the pitch deck it used to land $5 million from General Catalyst and other investors. Here's the deck Disclo used to get $5 million from General Catalyst.

☆ 12 top investors, from Blackstone to TPG, pouring billions into production studios in a long-term bet on Hollywood's content boom
▼ + stars: | 2023-02-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Institutional investors continue to see gold in Hollywood studios, despite a slowdown in content spending. Just as investors are pouring money into film and TV production companies, they're also doubling down on studio space, betting that the content boom is here to stay. The production real estate arena has attracted giants like Blackstone, which in 2020 acquired 49% of real estate investment trust Hudson Pacific Properties' three Los Angeles-based studios. Also bulking up in Hollywood is Bain Capital Real Estate, which in 2019 created a joint venture with Bardas Investment Group, a West Hollywood real estate development and investment firm. And investors insisted to Insider that their long-term view on the space hasn't darkened, even if high interest rates and a slowdown in new content spending temper activity in the short term.

☆ Salesforce's Marc Benioff has revised a plan to stack rank a bottom 5% and ordered employees back to the office, according to leaked messages
▼ + stars: | 2023-02-21 | by ( Ellen Thomas | Ashley Stewart | ) www.businessinsider.com time to read: +6 min

Salesforce CEO Marc Benioff has made revisions to the company's annual strategic plan, including return-to-office mandates and policies that would have implemented stack ranking, according to an internal Slack message viewed by Insider. "He's still pushing performance culture," a Salesforce employee who read the revised draft told Insider. It currently requires three days a week in the office for non-remote employees and four days a week for employees in "non-remote" and "customer-facing" roles. Revenue for fiscal 2022 grew 25%, to $26.5 billion, according to the company's annual report. Or, as an employee previously posted in a Slack channel, "Can execs commit to never referring to Salesforce employees as 'family' again?

☆ CNBC anchor Kelly Evans: You don't have to choose between personal and professional ambitions
▼ + stars: | 2023-02-17 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

But according to Kelly Evans, anchor of CNBC's "The Exchange" and "Power Lunch," you can "be ambitious at home as well." Ambition drives Evans, 37, every day as she reports on what's happening in the world of finance, real estate and economics. [I have] a relentless drive and a hunger for information and for understanding these complex global markets," Evans tells CNBC. And you can have that ambition to have a beautiful home life and still have this drive in the workplace. "And it motivates me to be able to now have people to share my professional life with."

☆ Meet a 24-year old living with her parents who splurges on weekend trips, a Chanel handbag, and a Balmain jacket with all the money she'd spend on rent
▼ + stars: | 2023-02-16 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Anastasia Ricci, 24, decided to stay with her parents during the pandemic and never left. With all the money she's saving on rent she's able to buy designer clothes and expensive trips. Anastasia Ricci in a $1,700 Balmain jacket. Anastasia Ricci bowling in Miami. Anastasia Ricci during a $1,200 weekend trip to Miami.

☆ AMC Networks Owner James Dolan Plots Turnaround, Floats Spouse as CEO Candidate
▼ + stars: | 2023-02-15 | by ( Jessica Toonkel | ) www.wsj.com time to read: 1 min

James Dolan, whose family controls AMC Networks, is interim executive chairman as the company searches for a new CEO. Shortly after becoming chief executive of AMC Networks Inc. last fall, Christina Spade held a town hall at New York’s Museum of the Moving Image to give an update on the state of the business. She also addressed staffers’ anxiety about potential layoffs. Ms. Spade said any job cuts at the media company, whose flagship cable channel is known for such hits as “Breaking Bad” and “The Walking Dead,” would be thoughtful and targeted, not drastic, and would begin in early 2023, according to people familiar with the event, which was in early November. Ms. Spade had hired consulting firm Bain & Co. to craft a measured approach, they said.

☆ Cheap money has been an 'anomaly' for past 12 years, says Bain Capital's Steve Pagliuca
▼ + stars: | 2023-02-14 | 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 EmailCheap money has been an 'anomaly' for past 12 years, says Bain Capital's Steve PagliucaSteve Pagliuca, Bain Capital senior advisor, and co-owner of the Boston Celtics, joins 'Squawk Box' to discuss dollar values normalizing, the strategic onshoring of US manufacturing, and the carbon transition.

☆ More people will make thousands by selling stakes in their homes to Wall Street firms, according to one company that already sees elevated interest from homeowners
▼ + stars: | 2023-02-10 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +3 min

But high mortgage rates are making it difficult for homeowners to take advantage of this wealth. Home equity investments are a way to raise cash without taking out a new loan. However, higher mortgage rates have made it more difficult for Americans to take advantage of this wealth. He said the company foresees "strong demand" for the home equity investments in the coming months. According to a Redfin analysis of government data, 85% of US homeowners tote a mortgage rate far below today's level of 6%.

☆ Private-equity salaries revealed: Here's how much top firms like Blackstone, KKR, and Oaktree are offering 2024 associates
▼ + stars: | 2023-02-09 | by ( Emmalyse Brownstein | Rachel Durose | ) www.businessinsider.com time to read: +8 min

Some of the most recent private equity recruits will rake in nearly $200,000 in base pay alone. Among the firms recruiting are Bain Capital, Blackstone, and KKR & Co. — three of the largest private-equity firms in the world based on funds raised in the last five years. These private-equity firms, along with others, have increasingly accelerated their recruiting timelines to get ahead of competitors, as Insider previously reported. To woo promising junior talent, private-equity firms offer sky-high salaries and even more enticing bonus propositions, much like in investment banking, from which these firms cull most of their talent. Oaktree Capital ManagementOaktree Capital Management was founded in 1995, and has $170 billion in AUM, according to its website.

BEIJING, Feb 7 (Reuters) - China's luxury market contracted 10% in 2022 on the year, snapping a five-year streak of high growth, as Beijing's zero-COVID policy and a slowing economy hit spending, Bain & Company said in a report on Tuesday. The luxury market grew 42% annually between 2019 and 2021 but its fortunes changed in 2022, after China doubled down on stamping out COVID-19 with city-wide lockdowns and a regulatory crackdown hit the property sector and fuelled unemployment. The figure compared to growth of 1% between 2012 and 2016, and a 26% increase in sales between 2016 and 2019, Bain said. Mirroring recent results from the likes of French luxury goods group LVMH (LVMH.PA) and Italy's Salvatore Ferragamo (SFER.MI) for 2022, Bain said all luxury categories were affected to varying degrees during the year. While categories with high online penetration, such as luxury beauty, suffered single-digit declines, the watch market fell the most, with sales dropping 20% to 25% from 2021.

☆ 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.

☆ There are plenty of open jobs for tech workers — they're just not at tech companies
▼ + stars: | 2023-02-07 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +3 min

Demand for tech workers at non-tech companies has reportedly outstripped demand at tech firms. The findings come as tech companies continue to cut budgets and lay off workers by the thousands. Tech jobs, highly sought after for their high pay and cushy benefits, seem less secure than ever as nearly every major tech company has cut headcounts and slashed budgets in the past six months. The bloodbath shows no sign of slowing down: Nearly 95,000 tech workers have been laid off in the first few weeks of 2023, according to layoff tracker layoffs.fyi. A silver lining for tech workers?

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