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☆ Rising temperatures and floods leave cities with hefty bills. Startups are working to help them adapt to climate risks.
▼ + stars: | 2024-03-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +10 min

All of this has given rise to climate adaptation, a sector that aims to mitigate against and adapt to the risks associated with climate change. For James Brennan and Navjit Sagoo, two of the scientists behind climate risk analytics startup Climate X, it is imperative that adaption efforts go hand in hand with those working to curb rising temperatures. Indeed, Bank of America analysts predicted the climate adaptation industry would be worth $2 trillion a year by 2026. Climate X made its calculations based on the UN's Intergovernmental Panel on Climate Change's RCP8.5 scenario, which has been deemed to be a "very high" baseline for emissions. Mike Segar/ReutersAll hands on deckThe need for climate adaptation is clear but often overlooked until an extreme weather event occurs, according to Landesman and Chaudhury.

Persons: —, James Brennan, Navjit Sagoo, Abrar Chaudhury, Autarc, Bill Gates, Tucker Landesman, Helge Jørgensen, Mike Segar, Brennan, Sagoo Organizations: Service, Business, Bank of America, Climate, X, Deloitte, University of Oxford's, Business School, New York Times, New, London, Fabian Society, Tech, Breakthrough Energy Ventures, Goldman Sachs, Management, Air, International Institute for Environment, Development Locations: London, New York City, New York, California, Autarc , Massachusetts, Medellin, Colombia, Europe, PitchBook, Mamaroneck, Westchester County , New York, U.S

☆ We're watching an American retirement crisis unfold
▼ + stars: | 2024-03-25 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +7 min

The big storyRetirement crisisart-4-art/Getty Images; Adobe Firefly; Jenny Chang-Rodriguez/BIWhat was once a natural part of the American dream — retirement — is now a luxury many workers can't afford. All of that combines to form a growing, and increasingly bleak, American retirement crisis. Plus, some who do leave work early end up regretting it . AdvertisementWhile early retirement isn't for everyone, retirement at its most basic level — leaving work after most of our adult lives — should be. The notion that people who've done everything they were supposed to, and still can't retire, points to major problems in the system at large.

Persons: —, Jordan Parker Erb, Dan DeFrancesco, Haven't, Jenny Chang, Rodriguez, they've, Juliana Kaplan, doesn't, Juliana, who's, she's, Alounthong, Getty, Klaus Vedfelt, Tyler Le, Zers, millennials, Warren Buffett's, Buffett, Sam Bankman, Daniel Jurman, it's, Rebecca Zisser, Elon Musk, Donald Trump, Hallam Bullock, George Glover, Grace Lett, Lisa Ryan Organizations: Service, Business, Pensions, Social Security, Prosecutors, BI, Apple, Accenture, Deloitte, Google Locations: America, India, China, American, New York, London, Chicago

☆ Consulting firms are cutting projections and tightening their belts as demand for their work slows
▼ + stars: | 2024-03-23 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Major consulting firms are seeing demand for their services slow. AdvertisementAccenture said in its quarterly report that consulting revenue for the second fiscal quarter, which ended on February 29, fell about 3% compared to 2023. Major consulting firms across the board are facing waning demand from clients. Some consulting firms are surviving the slowdown by reorganizing. AdvertisementDespite all the doom and gloom , one bright spot for consulting firms is the promise of AI.

Persons: —, Julie Sweet, Joe Ucuzoglu Organizations: Consulting, Accenture, Deloitte, Service, Financial

☆ Streamers like Netflix and Disney+ have a Gen-Z problem
▼ + stars: | 2024-03-20 | by ( Lucia Moses | ) www.businessinsider.com time to read: +1 min

Entertainment companies face a Gen-Z problem as they bet their futures on streaming. Young people prefer social video over TV shows and movies, new Deloitte research found. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Discovery have a looming Gen-Z problem as they bet their futures on streaming. They're spending billions to replicate the TV model with streamers, but their future customers may not want what they're selling.

Persons: They're, —, Gen Organizations: Deloitte, Service, Entertainment, Disney, Warner Bros, Business

☆ This company charges from $350 an hour to teach people how to behave at work
▼ + stars: | 2024-03-19 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAs more companies issue return-to-office mandates, it's opened up discussions around people lacking office etiquette — from what they eat in the office to how they converse with colleagues. Myka Meier runs US-based firm Beaumont Etiquette , which offers etiquette courses for companies and individuals to learn soft skills like communication, dining etiquette, and how to dress for work, among other things. Gen Z is struggling with communication skillsSome Gen Z workers are struggling with soft skills like communication. Advertisement"You have to educate yourself — all etiquette is, is being kind and respectful to other people and putting others first."

Persons: —, it's, Myka Meier, Meier, Gen Z, Longhua Liao, Zers, that's Organizations: Service, Business, Fortune, KPMG, Deloitte

☆ I got a job at Deloitte after quitting teaching. Here's the path I took to pivot my career in 8 months.
▼ + stars: | 2024-03-18 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +4 min

After that, they offered me a job teaching high schoolers biology for two years at a public school in Baltimore. They helped me highlight my transferable skills on my résumé, such as my leadership skills, public speaking and using tools such as PowerPoint and my initiative. I landed an interview for a job working as a government contractor. In preparation, I copied out my résumé and highlighted transferable skills for the role. I worked in the contractor role for eight months until I saw a job I wanted at Deloitte.

Persons: —, Amina Ahmed, I'd Organizations: Service, Business, Big, Deloitte Locations: Virginia, Baltimore, Washington , DC

☆ The state of women's sports: Top executives weigh in on parity, media share and NIL regulations
▼ + stars: | 2024-03-17 | by ( Jessica Golden | ) www.cnbc.com time to read: +12 min

From Caitlin Clark fever in Iowa to a packed house of 92,000 fans for women's volleyball in Nebraska, women's sports have never been more at the forefront. Last year saw record media deals for women's sports as the NCAA and NWSL both inked groundbreaking agreements. David Dow | Getty ImagesCathy Engelbert, commissioner of the Women's National Basketball Association: One of the obstacles is the undervaluation of our assets. Jayna Hefford, senior vice president of operations for the Professional Women's Hockey League: Women's sports still struggle to secure prime broadcast windows, consistent airtime and traditional media coverage. Steven Ferdman | Getty ImagesAmy Howe, FanDuel CEO: Women's sports need to continue to position their star athletes (i.e.

Persons: Caitlin Clark, Matthew Holst, there's, Renie Anderson, Jessica Berman, Jesse Grant, CNBC Jessica Berman, Cathy Engelbert, Breanna Stewart, David Dow, Jessica Gelman, John Lamparski, KAGR, Caitlin Clark's, Jayna Hefford, Haley Rosen, Mollie Marcoux Samaan, Michael Reaves, LPGA we've, Katrina Adams, Louis Armstrong, USTA Billie Jean King, Steven Ryan, Sabrina Ionescu, Coco Gauff, —, Berman, Pamela Duckworth, Engelbert, Magic Johnson, Larry Bird, Michael Jordan, Amy Howe, Steven Ferdman, FanDuel, Ionescu, A'ja Wilson, Rosen, Adams, they've, Renie, Anderson, I'm, influencers, Duckworth, Angel Reese, Billie Jean King, Jayna, Mark Blinch Organizations: Iowa Hawkeyes, NCAA, Michigan Wolverines, Carver, Getty, women's, Deloitte, CNBC, NFL, National Women's Soccer League, National Women's Soccer, WNBA, New York Liberty, Kia, Connecticut Sun, National Basketball Association, Business, New York Marriott Marquis Hotel, MIT Sloan Sports Analytics, MIT Sloan Sports Analytics Conference, Sports, Professional Women's Hockey, Association, Tiburon Golf Club, Professional, LPGA, USTA, Louis, USTA Billie, USTA Billie Jean King National Tennis Center, United States Tennis Association, Women's Tennis, Fubo Studios, FuboTV, NBA, Nike, Wall, Spring Studios, Renie Anderson NFL, Toronto, New York, Mattamy Athletic Centre Locations: Iowa City , Iowa, Iowa, Nebraska, Brooklyn , New York, New, New York City, Naples , Florida, NY, Toronto , Ontario, Canada

☆ Private-equity and VC investors look to sports, AI, and live events as the era of peak TV draws to a close
▼ + stars: | 2024-03-07 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

That was a far steeper decline than the overall venture funding market, which declined 38% in 2023, the report said. (The report was based on data from Crunchbase, which Alignment Growth is an investor in.) Investors have been flocking to AI, live entertainment, and sports. Sports M&A nearly tripled in three years to $27.9 billion in 2023, driven by deals for team franchises, the Alignment Growth report showed. High ticket prices for live entertainment could dampen attendance, especially if consumer confidence takes a hit.

Persons: Wade Holden, Anthony Jasenski, CBRE's, Jasenski, haven't, IATSE, Alex Iosilevich, Schlogel, Craig Thompson Organizations: Venture, Business, Disney, Warner Bros, Global, P Global Market Intelligence, Blackstone, Bain Capital Real, Deloitte, Teamsters, Hollywood, Investors, Sports, Atwater, Mindspring Capital Locations: Hollywood, Crunchbase, Americas, OpenAI

☆ What the SEC vote on climate disclosures means for investors
▼ + stars: | 2024-03-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

Win Mcnamee | Getty Images News | Getty Images'A sensible rule to protect investors'"Climate risk is financial risk," Elizabeth Derbes, director of financial regulation and climate risk for the Natural Resources Defense Council, said in a written statement. "This is a sensible rule to protect investors: it gives them access to clear, comparable, relevant information on the measures companies are taking to manage climate risks and opportunities," Derbes said. Overall, transparency around climate risk may be essential for investors to gauge if a company's stock is worth holding or if its stock price is reasonable, experts said — for example, is it too expensive given high exposure to climate risk, or perhaps fairly priced considering it's well positioned? For many businesses, Scope 3 emissions account for more than 70% of their carbon footprint, Deloitte estimates. Instead, the final rule will require companies require Scope 1 and 2 emissions if they're deemed material to investors.

Persons: Gary Gensler, Win Mcnamee, Elizabeth Derbes, Derbes, Rachel Curley Organizations: Securities, Exchange, Getty, Natural Resources Defense, U.S . Sustainable Investment Forum, CNBC, Deloitte Locations: U.S

☆ Asia's tech industry is recovering on chip boom amid global economic uncertainty, JPMorgan says
▼ + stars: | 2024-03-06 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

SINGAPORE – Asia-Pacific's tech sector has been growing on the back of the semiconductor boom even as other industries struggle amid global macro uncertainty, according to investment bank JPMorgan. "Tech has been recovering, that's why Asia has done reasonably well in the second half of last year. China industry benefited, North Asia obviously benefited more from it," Bruce Kasman, chief economist at JPMorgan said in a media briefing on Tuesday. Global tech spending weakened in 2023 while layoffs rose, said Deloitte in a report on tech industry's 2024 outlook. The recovery in tech is significant as other industries are still struggling.

Persons: Bruce Kasman, Deloitte, Ong Sin Beng Organizations: JPMorgan, Tech, Global, Deloitte, Nvidia Locations: SINGAPORE – Asia, that's, Asia, China, North Asia, U.S

☆ What the SEC climate disclosure rule may mean for investors
▼ + stars: | 2024-03-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Climate disclosures would be made in annual filings companies make to the SEC, such as a Form 10-K, and in registration statements filed before an initial public offering. "I think climate disclosures have largely become table stakes for the investment community," said Lindsey Stewart, director of investment stewardship research at Morningstar. Current climate disclosures are 'uncommon'Ships on the Panama Canal on August 21, 2023. Shipping experts fear such events could become the new normal as rainfall shortfalls highlight climate risks. The SEC proposal outlined three tiers of emissions disclosures: Scopes 1, 2 and 3.

Persons: Gary Gensler, Win Mcnamee, —, Lindsey Stewart, Daniel Gonzalez, Stewart, They'd, Rachel Curley, Hurricane Idalia, Christian Monterrosa, Cowen, Patrick McHenry, Sen, Tim Scott, Bill Huizenga, Chris Ratcliffe, They're Organizations: Securities, Exchange, Financial Services, General, Getty, The Securities, Exchange Commission, SEC, Morningstar, Panama Canal Authority, Shipping, Anadolu Agency, P Global, Corporations, U.S . Sustainable Investment, Hurricane, Bloomberg, Republicans, Economic, Deloitte Locations: Washington, Panama, U.S, Cedar Key , Florida, R

☆ High earners, young people and women are working fewer hours after the pandemic, says new research—here's why
▼ + stars: | 2024-03-01 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

But the people driving the post-pandemic decline in hours worked fall into four categories: women, young adults, highly paid workers and employees at small businesses. Richardson points out that high earners can maintain their annual income while working fewer hours, thanks to big post-pandemic pay increases. Women are working more part-time jobs than menA record number of Americans — 22 million — are working part-time, Labor Department figures show. In 2019, women worked 4.4 hours less per week than men, who worked 40 hours. The industries that saw bigger declines in hours worked — health care, leisure and hospitality — are dominated by women.

Persons: Nela Richardson, Richardson, they're, Gen Zers, there's, Zers Organizations: ADP Research, U.S, ADP, Workers, Labor Department, National Women's Law, Deloitte Locations: U.S

☆ It's not just Nvidia: The AI boom could create semiconductor jobs across the US and reduce reliance on risky Taiwan
▼ + stars: | 2024-02-29 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

The demand for Nvidia's AI chips could bolster job growth across the semiconductor industry. It could also help bring more semiconductor chip manufacturing stateside and reduce the US's reliance on Taiwan — which remains vulnerable to Chinese invasion that would wreak havoc on the global economy. AdvertisementEven without the AI boom, the semiconductor industry was already poised for big job gains in the near future. Of the 115,000 US new semiconductor jobs the Semiconductor Industry Association is projecting by 2030, it said roughly 67,000 of these positions risk going unfilled given current college degree completion rates. In an effort to prevent a worker shortage, community colleges and universities across the country have partnered with semiconductor companies.

Persons: —, Pat Gelsinger, It's, who've, TSMC, Syed Alam, Ed Kaste, GlobalFoundries, Mark Muro, Muro, Jensen Huang, hasn't, Dylan Patel, SemiAnalysis, Patel, Accenture's Alam, Alam Organizations: Nvidia, TSMC, Service, Deloitte, Semiconductor Industry Association, Accenture, Meta, Intel, AMD, Brookings Institution, Samsung, Google, IBM, Lam Research, Materials, KLA Corporation Locations: Taiwan, Arizona

☆ Streaming Prices Keep Going Up. Here’s How to Manage Subscriptions.
▼ + stars: | 2024-02-28 | by ( Brian X. Chen | ) www.nytimes.com time to read: +1 min

The dream of streaming — watch what you want, whenever you want, for a sliver of the price of cable! — is coming to an end. With all the price increases for video streaming apps like Amazon Prime Video, Netflix and Hulu, the average household that subscribes to four streaming apps may now end up paying just as much as a cable subscriber, according to research by Deloitte. To name a few of the price jumps for streaming video (without ads) in just over the past year: Amazon’s ad-free Prime Video is now $12 a month, up from $9; Netflix raised the price of its premium plan for watching content on four devices to $23 a month, from $20; Disney increased the price of its Hulu service to $18 a month, from $15; and HBO’s Max now costs $16 a month, up from $15. If, like many people, you subscribe to all those services, you are paying about $70 a month, roughly the same as a modest cable TV package.

Persons: HBO’s Max Organizations: Amazon, Netflix, Hulu, Deloitte, Disney

☆ 42-year-old spent $1,000 to launch her Amazon side hustle—now it brings in $33,000 a week
▼ + stars: | 2024-02-21 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

Jenny Woo, 42, brought in more than $1.71 million in 2023 revenue by selling EQ card games on Amazon. She was working on her master's degree in education at Harvard University, learning about emotional intelligence and child development. Woo spent roughly $1,000 from her savings to launch her side hustle, Mind Brain Emotion, in 2018. A million-dollar ideaWhen budget cuts hit the school, Woo was laid off. A month before graduating from the Harvard program, Woo launched a Kickstarter campaign for the deck with a $1,500 goal.

Persons: Jenny Woo, Woo, —, it'd Organizations: Harvard University, Amazon, CNBC, University of California, Berkley, Cisco, Harvard, Harvard Innovation Labs Locations: Irvine, Southern California, Boston

☆ EY and Deloitte are scrutinizing staff workloads and quietly letting some workers go
▼ + stars: | 2024-02-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now they’re scrutinizing employee workloads and letting go of "underemployed" staff, The Times of London reported . EY told Business Insider in a statement that it has "well-established performance management processes" that look at a variety of metrics. The Big Four firms, which include EY, Deloitte, PWC, and KPMG, have cut hundreds of jobs in the past year amid a challenging economic climate. It recently gave 3,000 staff poor performance reviews , which are internally known as "concerns," according to Bloomberg .

Persons: —, workloads, EY Organizations: Service, Deloitte, Big, Times, EY, PWC, KPMG, Consulting, McKinsey, Bloomberg Locations: London

☆ An ex-Googler shares the resume that landed him the job — and what he would change on it 10 years later
▼ + stars: | 2024-02-19 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Wang worked at Google for four years, first in policy and then in marketing. AdvertisementAt Google, Wang says he went through seven rounds of interviews. Show your accomplishments, not your work: Wang said he'd focus less on listing tasks, and more on explaining how his tasks became accomplishments. Tailor for what you want: "Pick your battles — not every single work experience is going to be equal," Wang said. Wang worked at Google's policy division and later as a product marketing manager.

Persons: Henry Wang's, Goldman Sachs, Wang, —, Henry Wang, Wang reexamined, It's Organizations: Deloitte, Google, Service, University of California, Times Locations: Irvine, of New York

☆ 'This is the mental health moment': Innovation and M&A are helping to boost these stocks to new heights
▼ + stars: | 2024-02-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +14 min

There's been a lot of chatter about the mental health crisis since the Covid-19 pandemic. Attention to a long-time crisis The mental health crisis is nothing new. However, there has also been a growing awareness and acceptance of mental health illnesses over the past decade, said Canaccord Genuity analyst Richard Close. "There's been recognition that mental health has a significant impact on a person's overall health," he said. "This is the mental health moment," said Dr. Ken Duckworth, NAMI's chief medical officer and author of "You Are Not Alone: The NAMI Guide to Mental Health."

Persons: There's, Covid, Peter Micca, AbbVie, Emraclidine, Myers Squibb, Karuna, Marc Goodman, Canaccord, Richard Close, MacKenzie Scott, Ken Duckworth, NAMI, Deloitte's Micca, William Blair, Myles Minter, Minter, Auvelity, Leerink's Goodman, Ashwani Verma, Verma, Goodman, BioHaven, Cerevel, Neumora, tardive, David Song, BetterHelp, psychedelics Johnson, Johnson, Spravato, Blair's Minter, Axsome, Micca, Michael Bloom Organizations: Institute for Health Metrics, Deloitte, Cerevel Therapeutics, Karuna Therapeutics, Bristol Myers, Leerink Partners, Centers for Disease Control, National Alliance, Mental, Mental Health, Wall Street, Therapeutics, Neumora Therapeutics, UBS, Karuna, Cellular Therapies, Xenon Pharmaceuticals, Neurocrine Biosciences, Acadia Pharmaceuticals, Tema Neuroscience, Axsome Therapeutics, Acadia Healthcare, BetterHelp, CNBC, pharma, Cellular Locations: Covid, Bristol, XEN1101, Acadia, Tema

☆ How 'ghost kitchens' went from $1 trillion hype to a struggling business model
▼ + stars: | 2024-02-17 | by ( Delon Thornton | ) www.cnbc.com time to read: +2 min

There's one food delivery trend, however, that hasn't gone along for the ride: ghost kitchens. Euromonitor International estimated that the ghost kitchen industry could reach a market size of $1 trillion by 2030. Companies such as Wendy's, Ruby Tuesday, TGI Fridays and Wingstop all joined the wave of ghost kitchens. Consumers complained about the clandestine nature of ghost kitchens, and food delivery apps shuttered thousands of the virtual kitchens. Then consumers shifted back to brick-and-mortar restaurants in droves, forcing investor pullback and mass closures of ghost kitchens.

Persons: hasn't, Ruby, Evert Gruyaert, Camilla Opperman, Nimbus Organizations: Euromonitor International, Big, Deloitte Locations: New York City

☆ A Columbia psychology professor says Gen Z should accept that stress and anxiety at work are normal life experiences: 'We should all feel stressed sometimes'
▼ + stars: | 2024-02-16 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Gen Z workers are losing sight that feeling stressed or sad are "normal life experiences." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Gen Z being open about mental health issues is a "watershed moment" in the workplace and sparking meaningful change in the long term, according to Pike. AdvertisementFeeling stressed out when you have a deadline or feeling sad, disappointed or anxious are "normal life experiences." Pike believes the discussions around mental health and mental illness must continue and that Gen Z will eventually learn to cope with difficult feelings.

Persons: Kathleen Pike, —, Gen, Pike, Zers, Suzy Welch, Gen Z's Organizations: Columbia, Service, Columbia University, Deloitte Locations: Pike

☆ Amazon, Microsoft, and Google say cloud cost-cutting is waning. Customers say cost controls are still a major barrier.
▼ + stars: | 2024-02-14 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +4 min

The major cloud service providers are saying their customers are winding down last year's optimization efforts. While the optimization outlook from the cloud service providers is rosy, it doesn't quite match what customers are reporting. Google Cloud revenue grew 26% year-over-year, up from the quarter before. Customers and cloud companies tell a different storyExecutives at all three major cloud companies said that the impact of cloud cost-cutting was behind them. 35% reported cloud cost overruns in the last 12 months, nearly half of which were over $100,000 or $500,000.

Persons: Brian Olsavsky, Satya Nadella, Sundar Pichai, Bryan Woodworth, Woodworth, Olsavsky, Pichai, David Linthicum, Linthicum, Ellen Thomas Organizations: Microsoft, Google, Business, Amazon Web Services, Companies Locations: ethomas@insider.com

☆ 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

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Persons: It's, ExpressVPN, we'd Organizations: Business, Private, PIA, Smart, Apple, US, Netflix, Internet, PIA doesn't, Amazon Prime, Down, Africa, Nations, SABC, CBC, BBC, pCloud, Deloitte, NSA, National Security Agency Locations: Canada, Australia, India, China, Saudi Arabia, Greenland, France, South Africa, Luxembourg, New York, 150Mbps, West, Japan, Italy, 9Now, United States

☆ What the collapse of a company owing $300 billion means for the world
▼ + stars: | 2024-02-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

AdvertisementImportantly, since the court order was made in Hong Kong, it's also unclear if mainland authorities will recognize and comply with the order. However, the company owes about $300 billion — a big shortfall, and there's a clear order of priority when it comes to repayments. How will the Evergrande collapse impact sentiment in China's economy and markets? Notably, the stock market sell-off came before Evergrande's liquidation order. Hong Kong's Hang Seng index ended up slightly higher the day the court order was made.

Persons: —, Kyle Rodda, Rodda, Alvarez, Marsal, Evergrande, it's, Baker McKenzie, Daniel Margulies, Margulies, Andrew Collier Organizations: Service, Business, Hong Kong Stock Exchange, Reuters, Deloitte, CSI, Orient Capital Research Locations: Hong Kong, China, Beijing, Asia

☆ India set to clock up to 8% GDP growth as it boosts manufacturing capacity, minister says
▼ + stars: | 2024-02-02 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +4 min

Workers assemble mobile phones at a Dixon Technologies factory in Noida, India, on Jan. 28, 2021. Bloomberg | Bloomberg | Getty ImagesIndia could clock up to 8% annual GDP growth for several years as it focuses on boosting its manufacturing capabilities, a key government minister told CNBC on Thursday. watch nowHe spoke extensively about the country's mobile manufacturing ecosystem, claiming that 99% of the phones used in India were made within the country. The country exported $11 billion mobile phones last year, and they are likely to rise to between $13 billion and $15 billion in 2024, Vaishnaw said. Apple 's presence in India has grown exponentially since it first started manufacturing in the country in 2017.

Persons: Vaishnaw, Narendra Modi's, Nirmala Sitharaman, CNBC's, Apple, OnePoll, Joe Biden, India's Modi, Narendra Modi, Modi, Mandel Ngan Organizations: Dixon Technologies, Bloomberg, Getty, CNBC, Union, Railways, Communications, Electronics, Technology, CNBC's Sri, Deloitte, India, Apple, Samsung, Micron, U.S, India's, White, Afp Locations: Noida, India, Delhi, Mumbai, Chennai, China, Washington ,

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