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☆ Gen Z Is the Most Unsatisfied With Work; for Them, a Job Is Just a Job
▼ + stars: | 2024-02-13 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +11 min

And it could explain why Gen Z workers are so much more unsatisfied with their jobs than their older colleagues. Age plays a role in explaining the gap, but Gen Z is also entering the workforce at a unique time. In EY's 2023 Gen Z survey, more than 50% of Gen Zers said they were "extremely worried about not having enough money." For much of Gen Z, a job is just a job. In a Deloitte study from March, only 61% of Gen Z participants said their work was important to their identity.

Persons: Kimi Kaneshina isn't, Wyatt Co, Xers, Zers, millennials, Gen Zers, Aki Ito, That's, Kaneshina, Julia Kensbock, Kensbock, haven't, Kensbrock, —, Gen Z, Corey Seemiller, Seemiller, Felizitas, Z Organizations: Pew Research, Research, Business, University of Bremen, Bain, Co, Workers, Employers, Labs, CFA, LaSalle Network, Wright State University, YouTube, LinkedIn, Deloitte Locations: Southern California, Germany, TikTok, Felizitas Lichtenberg

☆ The biggest winners and losers from the new sports streaming service
▼ + stars: | 2024-02-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. ESPN, Warner Bros., and Fox announced plans this week for a new sports streaming service set to launch this fall . That could put an end to cable TV as we know it , Nathan McAlone, Business Insider's deputy media editor, writes. Ashley Rodriguez, BI's media editor, has a breakdown of the six biggest questions about this new sports streamer . Games on YouTubeTV, for example, are noticeably delayed compared to cable TV broadcasts .

Persons: —, Katie Notopoulos, David Jensen, Nathan McAlone, it's, Ashley Rodriguez, Peter Kafka, BI's, Peter, Nathan, Ashley —, We've, Ashley, Fox, Rick Wilking, Reuters Leon Cooperman, Marc Rubinstein, Yi Huiman, Xi Jinping, Jordan Hart, It's, Justin Metz, Blackstone, Bob Iger, Donald Trump, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, ESPN, Warner Bros, Fox, ESPN2, ABC, FOX, Peter : Media, Nathan, Warner Bros ., NFL, Cable, Comcast, Paramount, Reuters, Signature Bank, New York Community Bancorp, Securities, Commission, that's, Apple Vision, Microsoft, BI, of Foreign Labor, Apollo, KKR, Bain Capital, Disney, Epic Games, ConocoPhillips, US Locations: New, China, Beijing, New York, London

☆ Private-equity salaries revealed: How much Blackstone, Apollo, KKR, and Bain Capital employees earn at all levels
▼ + stars: | 2024-02-07 | by ( Alex Nicoll | Emmalyse Brownstein | ) www.businessinsider.com time to read: +1 min

Bain Capital, Blackstone, and KKR are among the largest private-equity firms in the world. Here are the base salaries for analysts, associates, managing directors at 9 private-equity firms. Today, that phrase might be best applied to the dealmakers who run the $12 trillion world of private equity . Consider: In 2022, private-equity firms made up 40% of total M&A activity. This story is available exclusively to Business Insider subscribers.

Persons: Tom Wolfe, Blackstone Organizations: Bain Capital, Blackstone, KKR, Business

☆ Meet the Man Behind Litquidity, the Anonymous Instagram Account Dominating Wall Street
▼ + stars: | 2024-02-07 | by ( Reed Alexander | Hayley Cuccinello | ) www.businessinsider.com time to read: +26 min

The deck kicked off a game of one-upmanship among Wall Street banks trying to keep their employees happy. Lit capitalized on poking fun at Wall Street culture, selling $35 dad hats that read, "Do You Know Who My Father Is?" There have, of course, been endless rumors about Lit's identity, especially among Wall Street underlings. Wall Street underlings have speculated about Litquidity's identity for years. Basak, one attendee said, wanted to take a "wrecking ball through it all" and hold Wall Street heavy hitters accountable.

Persons: Goldman Sachs, I've, David Solomon, Litquidity, Goldman, Solomon, Evercore, Michael Kovac, Lit, Warburg Pincus, Jamie Dimon, Jamie Dimon's, Banksy, Bennett Jordan, who've, Lit's, — Mark Moran, —, Jefferies, Richard Handler, Spencer Platt, Isaac Laifer, Laifer, Handler, We'd, Henry, Hank, Medina, He's, he's, Jefferies Medina, Bart P, Fuchs, Karl Smith, Mark Moran, Moran, Bloomberg he'd, Zack DeZon, Getty Images Moran, Brian Hanly, Hanly, Sonali Basak, Angela Weiss, cryptocurrency, we'll, Mark, Medina's, weren't, CoinFLEX, Litquidity doesn't, Dave Portnoy, wasn't, Medina Ayden Syal, Kyle Zappitell, Zappitell, he'd, hasn't, Bennett Jordan —, Craig Sjodin, Litney, Paul Argenti, Wall Organizations: Goldman, New York Times, CNBC, Business, Bloomberg, Metropolitan Club of New, Nomura, Citigroup, Financial Times, Litney Partners, Whitney Partners, BI, ESPN, Litquidity, Centerview Partners, New York, Getty, Bain Capital, Litquidity Venture Partners, SEC, Cornell University, Wexford Capital —, Deutsche Bank, Deutsche, CFA, Getty Images, Bullish, Vice, Wall Street, Litquidity's, Manhattan's Rue, Fox Business, Litquidity Ventures, Coatue Management, SAFE, Soho House, Dartmouth University Locations: New York, Tribeca, Metropolitan Club of New York, Instagram, San Francisco, Medina, New York City, Miami, NoHo, Chad, Connecticut, Litquidity, Linktree, Soho

☆ Can AI carry on this fashion designer’s legacy?
▼ + stars: | 2024-02-06 | by ( Marc Bain | ) edition.cnn.com time to read: +11 min

A few years back, she began thinking about AI after working on a fashion game tied to a line she designed for Walmart. The tagged imagery is fed into the AI model to train it. “It took us about a month to get it to the right point,” said Cyril Foiret, founder and creative director of Maison Meta. Foiret said they essentially had to develop a mini AI model just for that. Last year, she contacted Maison Meta, which was creating a name for itself through projects like organizing the first AI Fashion Week with Revolve.

Persons: Norma Kamali isn’t, Norma Kamali, Lynn Karlin, ”, “, hasn’t, ” Kamali isn’t, She’s, Hillary Taymour, Julius Juul, Heliot Emil, Laverne Cox, Jennifer Lopez, Kamali, Jamie McCarthy, Helmut Lang, Ann Demeulemeester, Alice Bouleau, Bouleau, Maison Meta, Cyril Foiret, Maison, Iman, Nick Elgar, Corbis, Foiret, they’ve, it’s, ” Kamali, “ I’m, Nima Abbasi, Vivienne Westwood, Francesco Da Vinci, ” Abbasi Organizations: The, Fashion, CNN CNN —, New, Maison Meta, Penske Media, Northwest Airlines, Walmart, NBC, Sterling International, Kamali’s, Maison, Getty, Meta, Designers, CNN Locations: New York

☆ DocuSign to lay off 6% of workforce, or about 440 jobs
▼ + stars: | 2024-02-06 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

The DocuSign website is seen on a laptop in Dobbs Ferry, New York, April 1, 2021. DocuSign announced Tuesday it will cut 6% of its workforce as part of a restructuring plan that aims to improve the company's "financial and operational efficiency," according to a release. DocuSign employs 7,336 workers according to its most recent filing with the U.S. Securities and Exchange Commission, which means the cuts will affect around 440 jobs. DocuSign said the restructuring plan will be largely complete by the end of its second fiscal quarter of 2025, according to the release. In January, shares of DocuSign soared on reports that Bain Capital and Hellman & Friedman were competing to buy the online signature provider.

Persons: DocuSign, Friedman Organizations: U.S . Securities, Exchange Commission, Bain Capital, Hellman, Reuters Locations: Dobbs Ferry , New York

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

☆ DocuSign's deal talks with Bain, Hellman & Friedman stall: Reuters
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: +1 min

The Docusign Inc. application for download in the Apple App Store on a smartphone arranged in Dobbs Ferry, New York, U.S., on Thursday, April 1, 2021. Bain Capital and Hellman & Friedman have cooled in their pursuit of DocuSign Inc over disagreements on how much they should pay to acquire the provider of online signature services, people familiar with the matter said on Monday. It remains, possible, however, that the deal talks will resume in the future, the sources added, requesting anonymity because the matter is confidential. A deal for DocuSign would have been one of the biggest leveraged buyouts of 2024. A spike in financing costs in the last two years has made financing leveraged buyouts more expensive and big deals harder to clinch.

Persons: Friedman Organizations: Inc, Apple, Bain Capital, Hellman, DocuSign Inc, DocuSign, Mobile, United Airlines Locations: Dobbs Ferry , New York, U.S, New York

☆ Tech isn't the only six-figure industry to work for—consulting jobs pay an average $103,000 a year
▼ + stars: | 2024-02-02 | by ( Gili Malinsky | ) www.cnbc.com time to read: +1 min

Tech has long been considered one of the most desirable industries to work in. Job search site Glassdoor recently released its Best Places to Work report based on current and former employee reviews. They singled out the best industries to work for based on the ones that showed up most on the list. Though it still topped the list, "tech is a little bit less popular this year just because of the news that they've had around layoffs and fears of recession," says Daniel Zhao, lead economist at Glassdoor. Twelve consulting companies made it onto Glassdoor's list, making it the second best industry to work for after tech.

Persons: they've, Daniel Zhao Organizations: Tech, Amazon, Microsoft, U.S, Bain & Company Locations: That's

☆ The Israeli-Palestinian Conflict and the Long Shadow of 1948
▼ + stars: | 2024-02-01 | by ( Emily Bazelon | A Discussion Moderated Emily Bazelon | ) www.nytimes.com time to read: +18 min

In 1948, Jews realized their wildly improbable dream of a state, and Palestinians experienced the mass flight and expulsion called the Nakba, or catastrophe. It’s only in 1948 that the Arabs become Palestinians and the Jews become Israelis. Many Jews became lower-level officers during World War II, and they brought their new military expertise to the 1948 war. Zoltan Kluger/GPO, via Getty Images Palestinian bombers destroyed buildings on Ben Yehuda Street in Jerusalem in March 1948. Bettmann/Getty Images A Palestinian refugee cut off from her home by the border established after the 1948 war.

Persons: Matson, —, Khalil Raad, Yaakov Ben Dov Delegates, Haj Amin al, Husseini, ”, It’s, Avraham Avinu, David, Fox, King David Hotel, David Ben, Gurion, “, Hitler, Hans Pinn, Abd al, Qadir al, Chalil, Zoltan Kluger, Ben Yehuda, Hugo H, Mendelsohn, John Phillips, Palestine ”, UNSCOP, Bettmann, Ruth Orkin, David Seymour, Jordan, Israel, Abdullah, Nadim, Leena Dallasheh, Abigail Jacobson, Moshe Naor, ” Derek Penslar, ” Itamar Rabinovich, Salim Tamari, Emily Bazelon, Herzl, Faisal Al, Hashemi, James Russell &, Bain, Jabotinsky, Abraham Pisarek, Weizmann, Heinrich Hoffmann Organizations: Congress, Institute for Palestine, Palestinian, . Institute for Palestine, Matson, Palestine, Getty, of Congress British, Peel, Zionist, Jewish, British Armed Forces, Allied, King, of Congress Women, Hulton, Biltmore, British, Agence France, Getty Images, Refugees, West Bank, Shutterstock, United Nations, League of Nations, United, United Nations Jewish, Madver, The, Palestine Studies, Columbia University, Columbia University , New York University, Rice University, Islamic, Hebrew University of Jerusalem, Center for Jewish Studies, Harvard University, Tel Aviv University, Birzeit University, Institute for Palestine Studies, The New York Times Magazine, James Russell & Sons, of Congress, Israel, Ben, General Photographic Agency, Society, International Affairs Locations: Palestine, City, Jerusalem, Canadian American, Israel, British, Jaffa, Damascus, Old City, Hebron, Safed, Europe, Arab, North Africa, New York City, Middle Eastern, Haifa, Cyprus, Jenin, U.S, United Nations, Iraq, Tel Aviv’s Lod, Lebanon, Eyal, el Bared, Egypt, Syria, Gaza, Tel Aviv, Ashdod, Palestinian, United States, Qatar, Iran, Columbia University ,, Nazareth, Israeli, Husseini

☆ China's economy is facing a nightmarish Year of the Dragon
▼ + stars: | 2024-01-30 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

With the Year of the Dragon less than two weeks away, China's economy wobbled again on Monday. Fragile growthIn late 2022, China's Communist Party finally called time on its harsh zero-COVID measures — but the economy hasn't enjoyed the post-lockdown rebound many forecasters had predicted. DeflationFalling prices are another source of China's economic woes. AdvertisementNone of that speaks to a dedication to the free market — so China will likely keep struggling to attract more foreign investment in 2024. The sell-off reflects investor concern about the economy's overall health, as well as Chinese tech companies falling behind their US rivals in the development of AI.

Persons: wobbled, Linda Chan, Evergrande, Liquidators, hasn't, they'll, Li Qiang, John Kerry, Janet Yellen, Elon Musk, Xi Organizations: Hong, Business, China's Communist Party, World Bank, Tesla, Communist Party, Bain, Co, Big Tech, CSI Locations: Hong Kong, Evergrande, Beijing, China, Japan, Shanghai

☆ Stocks making the biggest moves midday: Dollar Tree, iRobot, Bloom Energy and more
▼ + stars: | 2024-01-29 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Dollar Tree — Shares of the discount retail chain popped 1% following an upgrade to overweight from neutral at JPMorgan. SoFi Technologies — Shares of the financial services provider surged 21% after the company reported its fourth-quarter financial results. ZoomInfo Technologies — Shares jumped more than 6% after Bank of America upgraded shares to buy from neutral on revenue growth acceleration. The firm cited tailwinds including improving market share and volume trends, as well as an attractive valuation and strong top-line growth. Flywire — Shares of the fintech company gained 3.75% after being upgraded by Morgan Stanley to overweight from equal weight.

Persons: McGrath RentCorp, McGrath, SoFi, iRobot, Koji Ikeda, Wells, Flywire, Morgan Stanley, Beam, —, Samantha Subin, Yun Li, Michelle Fox, Alex Harring, Lisa Kailai Han, Sarah Min, Pia Singh, Tanaya Macheel Organizations: WillScot Mobile, JPMorgan, Wall, Amazon, Bain Capital, Western Digital, Kioxia Holdings, Bloom Energy, Bank of America, ZoomInfo, Hershey —, AllianceBernstein, Warner Bros, —, Beam Locations: Japan, AATD

☆ 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

☆ The 4 best industries to work in, according to Glassdoor—some jobs can pay more than $200,000
▼ + stars: | 2024-01-24 | by ( Gili Malinsky | ) www.cnbc.com time to read: +3 min

About a third, 29% want more flexible work hours, according to Monster's 2024 Work Watch Report. Job search site Glassdoor recently released its Best Places to Work report, including a list of the 100 best large companies to work for based on current and previous employee reviews. Glassdoor looked at which came up the most to decipher the best industries to work for as well. Here are their top four industries, including examples of jobs and how much they pay. TechThere were 31 tech companies on the list, crowning the industry as the best one to work for overall.

Persons: Glassdoor, Daniel Zhao, Zhao, Cassandra Happe, Booz Allen Hamilton, Fannie Mae Organizations: Workers, Tech, WalletHub, Companies, NVIDIA, Procore Technologies, VMWare, Bain & Company . Companies, McKinsey & Company, Booz, Huron Consulting Group, Bain & Company, Finance, Fidelity Investments, Mastercard, & $ Locations: Glassdoor

☆ Everyone's buzzing about AI — including plenty of people who clearly don't understand it
▼ + stars: | 2024-01-17 | by ( Spriha Srivastava | ) www.businessinsider.com time to read: +4 min

BINigel Vaz, CEO of Publicis Sapient, a consulting firm, compares the buzz around AI to the early days of the internet. BINela Richardson, chief economist at ADP, told BI there's a big learning gap on what constitutes AI. Much of what is being called "generative AI" has been around for decades, while much of what workers think is AI is actually automation. Similarly, Guru Gowrappan, CEO of ViaSat, a communications operator, says many companies are just talking about AI at Davos — but not actually doing much with it. And some of them are just recategorizing what they were doing to call it AI," he tells BI.

Persons: —, I've, Davos — I've, Sheila Warren, there's, Warren, Nigel Vaz, Publicis, Vaz, Bain, Nela Richardson, Richardson, Ivana Bartoletti, Guru Gowrappan, Gowrappan Organizations: Service, Economic, Business, Davos —, Crypto, VR, Infosys, IBM, Accenture, Consulting, ADP, Wipro, ViaSat, Davos Locations: Davos

☆ From livestreaming to 'shoppertainment,' Gen Zers lead the way in Singapore's online shopping space
▼ + stars: | 2024-01-15 | by ( Audrey Wan | ) www.cnbc.com time to read: +5 min

Logos of online social media and social networking sites displayed on a smartphone screen on August 01, 2023 in Bath, England. Many social media sites have introduced e-commerce features on their platforms, providing an alternative to popular online shopping sites like Lazada and Shopee. For example, users can purchase directly from TikTok shop or Facebook Marketplace without navigating outside of the application. Creators promoting products can also appeal to Gen Zers' preference for credibility by using livestreaming functions on social media platforms. As Gen Zers are digitally savvy, they rely a lot on social media nano-influencers to guide their purchasing decisions, he said.

Persons: Matt Cardy, Zers, Gen Zers, TikTok, Lawrence Loh, Tracy Loh, Wu Zu, Wu, Loh, millennials, Gen, SMU's Loh, Cristiano Ronaldo, Gen Zs Organizations: Getty, SINGAPORE, Meta, Bain & Company, Research, Social, Facebook, National University of Singapore's, Business, Singapore Management University, SMU, NUS, National University of Singapore Business, CNBC Locations: Bath, England, Singapore, Zers, Southeast Asia

☆ The 25 top companies to work for, according to Glassdoor
▼ + stars: | 2024-01-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

Glassdoor released its 2024 list of top workplaces based on how US-based employees feel about them. Glassdoor recently published its new Best Places to Work ranking based on how US-based employees felt about their workplaces. AdvertisementWhile Microsoft ranked high on the 2024 list, ranking No. Google fell just short of the top 25 in the 2024 list, ranking No. AdvertisementBelow are the top 25 large companies to work for according to the 2024 US list along with their Best Places to Work rating, which was on a five-point scale.

Persons: Glassdoor, Raymond James Financial, —, Keller Williams, Burger, Bain Organizations: Bain & Company, eXp Realty, Service, Best Places, U.S, Microsoft, Management, Best, Google

☆ SumUp, a rival to Jack Dorsey's Block, defies fintech funding slump with $307 million cash injection
▼ + stars: | 2023-12-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

SumUp Chief Financial Officer Hermione McKee said the fresh capital gives the company "more firepower to act on opportunities," including acquisitions and new country launches. British payments startup SumUp, known for its small card readers, on Monday announced it has raised 285 million euros ($306.6 million) in a bumper round of funding that values the company north of $8.6 billion. The round predominantly consisted of equity, though a small portion of the funds was raised as debt. Then we look at Asia, how do we think about that region, and then obviously opportunities across Africa. A SumUp spokesperson confirmed the deal is an up round, meaning its valuation is higher than it was previously.

Persons: Hermione McKee, McKee, SumUp Organizations: Monday, Sixth, Bain Capital Tech, Fin, CNBC Locations: SumUp, Australia, America, Asia, Africa

☆ A formfitting blazer and Chelsea boots, or jeans and high-top sneakers? Here's how the 2023 rising stars of VC put together their 'power outfits.'
▼ + stars: | 2023-12-04 | by ( Madeline Renbarger | Ben Bergman | Darius Rafieyan | ) www.businessinsider.com time to read: +8 min

Many of this year's VC rising stars told Business Insider that their go-to power outfits included apparel like tailored sport coats or Chelsea boots, and more casual pieces like hoodies and well-fitting jeans. Very few investors are wearing collared shirts with their jackets, opting instead to pair it with a t- shirt and jeans. Nmachi Jidemna told Business Insider that for her everyday wear, her go-to was "usually a structured blazer with a relaxed pair of jeans." Lori Harvey (left) and Heidi Klum (right) wearing red outfits. Black flowy trousers, black turtleneck, and chunky black boots."

Persons: that's, Laura Bock, Nmachi Jidemna, Javier Grevely, Ralph Lauren, Tobi Coker, Janelle Teng, Patron's Amber Atherton, Jason Yeh, Ashley Paston, Justin Williams, VCs, Mahati Sridhar, Grady Dick, Michelle Farsi, Pear, Vivien Ho, Lori Harvey, Heidi Klum, Valentina Frugiuele, Bauer, Griffin, Luci Fonseca, RTFKT, Brandon Hoffman, JL, Sarah Wu, Emerson, Fiona Huang, Demi Obayomi, Natalie Borowski, Daisy Wolf, Andreessen Horowitz Organizations: Business, Wellington Management, Converse, Seae Ventures, Getty, GV, Nike, Sunset Ventures, Bain Capital Ventures Locations: London, Chelsea

☆ Saks and Neiman Marcus are better together
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

The signage outside the Neiman Marcus store is seen during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 19, 2020. REUTERS/Jeenah Moon Acquire Licensing RightsNEW YORK, Dec 1 (Reuters Breakingviews) - Saks Fifth Avenue and Neiman Marcus might be headed down the aisle. The two luxury retailers are in talks to merge, according to the Wall Street Journal on Friday. By joining forces, Saks and Neiman would have more power negotiating with vendors and ability to control costs. Saks and Neiman are destined to match up.

Persons: Marcus, Neiman Marcus, Neiman, Jennifer Saba, Robert Cyran, Aditya Sriwatsav Organizations: REUTERS, Reuters, Saks Fifth, Wall, Saks, HBC, Dallas, Ares Management, Plan Investment Board, Bain, Neiman, X, Barclays, Thomson Locations: New York City, U.S, Canada

☆ Asia’s tech giants lean toward desperate deals
▼ + stars: | 2023-11-30 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

TikTok CEO Shou Zi Chew arrives for a dinner, on the eve of the Paris Peace Forum at the Elysee Palace in Paris, France, November 9, 2023. TikTok CEO Shou Zi Chew was feted in Indonesia where it has 125 million monthly active users when he pledged in June to invest billions of dollars in the region. But the global giant failed to anticipate regulatory hurdles in its biggest market for online shopping. TikTok’s viral video app would provide Tokopedia with a powerful new growth avenue for its online shopping and payments business. Yet as tech companies from the People’s Republic to Indonesia pull out all the stops to lift growth amid waning investor support, desperate new alliances are bound to emerge.

Persons: Shou Zi Chew, Gonzalo Fuentes, TikTok, China’s, GoTo, Patrick Walujo, Indonesia’s GoTo, Una Galani, Thomas Shum Organizations: Paris Peace, REUTERS, Rights, Reuters, Companies, Google, Temasek, Bain &, Reuters Graphics Reuters Graphics, Tokopedia, HK, Global Digital, Djarum, Bloomberg, Thomson Locations: Paris, France, Rights SINGAPORE, Southeast Asia, Indonesia, Reuters Graphics Reuters Graphics Jakarta, Tokopedia, Lazada, Singapore, Indonesian, Thailand, People’s Republic, China

☆ Southeast Asia is on the cusp of a 'supercharged' digital payments revolution, PwC says
▼ + stars: | 2023-11-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Widespread mobile ownership, together with rapid digitalization after the pandemic, helped spur the expansion of digital financial services in Southeast Asia, said PwC. PwC"This enhanced availability and convenience of digital payments will see the bulk of the regional population leveraging mainstream digital financial products, such as e-wallets, further expediting the expansion of financial services," said PwC. watch now"Consumers are adopting digital financial services at a rapid pace. Cash is no longer king, as digital payments now make up more than 50% of the region's transactions," a recent Google, Temasek and Bain & Company report wrote. "In some regions such as Southeast Asia, [digital payments via e-wallets] are already more common than physical card payments and set to dominate point-of-sale [systems] overall," wrote Dan Jones and Alex Walker of OliverWyman.

Persons: PwC, hawkers, —, Cash, Dan Jones, Alex Walker of OliverWyman Organizations: Banking, Getty, Careem, Mercado Libre, Temasek, Bain & Company Locations: China, East Asia, Shanghai, Banking Asia, Asia, Southeast Asia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Brunei, Laos, Cambodia, Paytm, India, AliPay, Latin America

☆ Japan and India are bright spots for investment within Asia, says Bain Capital Asia
▼ + stars: | 2023-11-29 | 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 EmailJapan and India are bright spots for investment within Asia, says Bain Capital AsiaDavid Gross, managing partner at Bain Capital Asia, discusses the investment opportunities in Japan and India.

Persons: Bain Capital Asia David Gross Organizations: Japan, Bain Capital Asia Locations: India, Asia, Japan

☆ Scott Shleifer steered billions into startups for Tiger Global. With his reign now over, the industry wonders what's next.
▼ + stars: | 2023-11-29 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +6 min

Few investors are more emblematic of the no-interest-rate private market frenzy than billionaire Scott Shleifer. Tiger's venture approach in 2020 and 2021 — constantly described as unsustainable by rivals — included maneuvers such as offering start-ups more money than they were asking and emailing founders term sheets after a single meeting. Shleifer's reputation and personal wealth grew with Tiger's venture success. As Tiger was fundraising late last year, investors learned of a $10 million settlement Tiger Global made to a former female employee. At least one Tiger investor was surprised to hear about it from Coleman and not Shleifer himself.

Persons: Scott Shleifer, —, Chase Coleman, Donald Trump's, Michael Gross, Tiger, Bain, John Curtius, Shleifer, Eric Lane, Evan Feinberg, Griffin Schroeder, Coleman, Sarah Samuels, Samuels, Scott, OpenAI's, Sam Altman's, Altman, Paul Graham Organizations: longtime Tiger Global, Business, Tiger, Walmart, The, Washington Post Locations: Florida, India, Flipkart, New York

☆ A 76-year-old retiree who experienced his teenage wish of being a flight attendant wants you to know dreams can come true at any age
▼ + stars: | 2023-11-29 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +5 min

Harvey Brown, 76, was asked to be an honorary flight attendant on a Southwest Airlines flight. Brown wanted to be a flight attendant when he was a teenager and was able to experience it. AdvertisementA 76-year-old retiree lived out a dream from his youth and became a viral sensation after Southwest Airlines made him an honorary flight attendant. In June, Harvey Brown, who lives in Portland, Oregon, took a Southwest flight to Austin, Texas. Brown told BI that he hopes young people who might have seen the videos of him experiencing life as a flight attendant will see that dreams can come true even in later years of life.

Persons: Harvey Brown, Brown, —, he's, it's, Harvey, I'm, Ashley Bain, we're Organizations: Southwest Airlines, Service, Southwest Locations: Portland , Oregon, Austin , Texas, Dallas , Texas, Denver

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