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The state hasn't wavered as a conservative stronghold in the modern era, and its last Democratic governor was denied a second term 20 years ago. A former mayor of tiny Nettleton, Presley is wrapping up his fourth term as a state utility regulator for northern Mississippi. One of the most famous Black Mississippi residents, Oscar-winning actor Morgan Freeman, recently joined him at a campaign event. Presley has raised more campaign cash than Reeves this year, and he's attracting larger and more diverse crowds than any Democrat running for Mississippi governor in a generation. Presley says the new method of electing a governor gives him a better chance than the old one.

Persons: Brandon Presley, Tate Reeves, “ They’re, ” Presley, murmurs, “, Elvis Presley, Reeves, Presley, Bennie Thompson, Morgan Freeman, Theresa Hall, ”, we’ll, ” Reeves, Sen, Chuck Younger, “ It’s, ” Younger, it’d, Bruce Springsteen, don’t, William Barber, Barber, —, Nick Bain, Medgar Evers, Vernon Dahmer, Fannie Lou Hamer, it's, Democrat Jim Hood, Joe Biden, Mike, Republican Sen, Cindy Hyde, Smith, Thad Cochran, Jim Crow, Eric Holder, Gwendolyn Gray Organizations: Democratic, Republican, U.S . Rep, Mississippi, Tate, Liberal, Black, Democratic Party, Poor, Waffle, Trump, Mississippi Freedom Democratic Party, Democratic National Convention, Democrats, Democrat, U.S . Senate, Mississippi voters, U.S, “, Tougaloo College Locations: NATCHEZ, Miss, Mississippi, Natchez, Jackson, Issaquena County, Los Angeles, Columbus, Alabama, U.S, Gulfport, Biloxi, “, Black, Atlantic City

☆ Japan Inc is only winner in nixed chip deal
▼ + stars: | 2023-10-27 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

But this failed tie-up does have a winner of sorts: Japan Inc.That’s precious little consolation for the others involved. Reuters Graphics Reuters GraphicsThe nixed deal also complicates Bain Capital’s exit strategy from Kioxia. Yet Western Digital was set to be the majority partner in the proposed deal. The Nikkei business daily also said that Kioxia and Western Digital were unable to agree on conditions with top Kioxia shareholder Bain Capital. The news sent Western Digital shares down 9%.

Persons: Elliot, Bain, Nobuo Hayasaka, –, Antony Currie, Thomas Shum Organizations: Reuters, Japan Inc, Western Digital, Elliot Investment Management, Reuters Graphics Reuters, Toshiba, SK Hynix, Western Digital’s, Development Bank of Japan, Sumitomo Mitsui Financial, –, Western, South Korea's SK Hynix, U.S, Nikkei, Bain Capital, Thomson Locations: HYDERABAD, India, Japan, Tokyo

☆ Western Digital and Japan's Kioxia call off merger talks - Nikkei
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Ann/File photo Acquire Licensing RightsTOKYO, Oct 26 (Reuters) - Western Digital Corp (WDC.O) and Japan's Kioxia Holdings have broken off talks to create one of the world's biggest chipmakers, the Nikkei newspaper reported on Thursday. The companies were also unable to agree on conditions with top Kioxia shareholder Bain Capital, the report added. Western Digital, Kioxia and Bain Capital did not immediately respond to Reuters' requests for comment. Shares of Western Digital sank 12% on the news. Kioxia and Western Digital have held merger talks since 2021 but the negotiations have often stalled over a series of issues, including valuation discrepancies.

Persons: David Dolan, Aditya Soni, Juby Babu, Chavi Mehta, Shweta Agarwal Organizations: Taipei, REUTERS, Rights, Western Digital Corp, Japan's Kioxia Holdings, Nikkei, SK Hynix, Bain Capital, Samsung Electronics, South Korean SK Hynix, Kioxia, Western Digital, Western, Thomson Locations: Taipei, Taiwan, U.S, Kioxia, Bengaluru

☆ Read the new letter from Mitt Romney and billionaire Seth Klarman slamming Harvard's 'silence' over 'antisemitism on campus' as 'astounding'
▼ + stars: | 2023-10-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

A group of Harvard alum, including Mitt Romney and billionaire Seth Klarman, are condemning its leadership. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On Monday, a group of Harvard alumni including Senator Mitt Romney and billionaire investor Seth Klarman wrote an open letter slamming the school's leadership and its response to purported antisemitism on campus. Other alums condemned Harvard's response to both the terrorist attacks and the student letter.

Persons: Mitt Romney, Seth Klarman, alums, —, Bill Helman, Bain, Mark Nunnelly, Joanna Jacobson, Claudine Gay, Bill Ackman, Les Wexner, Idan Ofer, Batia, Michael Hemesath Organizations: Harvard, Service, Harvard Palestine Solidarity Groups, Harvard's Kennedy School of Government, Ivy League, University of Pennsylvania, Carleton College, Saint John's University Locations: Israel, Gaza

☆ China arrested an executive and two former employees at a major US ad agency, claiming they accepted bribes, reports say
▼ + stars: | 2023-10-23 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Chinese authorities raided the Shanghai offices of GroupM, Reuters reported. AdvertisementAdvertisementThree people linked to the major ad agency GroupM have been detained by police in Shanghai, according to Reuters and The Wall Street Journal. Chinese authorities raided the Shanghai campus of WPP — the conglomerate which owns GroupM — on Friday, according to Reuters. A month before that, Chinese authorities raided the Beijing offices of Mintz Group, the American corporate due diligence firm. Five employees were detained, according to Reuters.

Persons: Patrick Xu, Bain, Mintz Organizations: Reuters, Morning, Street, Financial Times, Shanghai, WPP, Insider Intelligence, Mintz Group, Beijing Municipal Bureau, Statistics, Associated Press Locations: Shanghai, GroupM, China, Beijing

☆ WPP fires executive detained in China on suspicion of bribery
▼ + stars: | 2023-10-23 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Advertising giant WPP says it has fired an executive detained in China on suspicion of bribery. Last week, news emerged that the Chinese police had raided the Shanghai office of advertising agency GroupM, owned by WPP. WPP said Tuesday it had fired an executive detained in China on suspicion of bribery. The police didn’t name the company, but the Financial Times and Chinese state media linked it to GroupM. The announcement came a month after police questioned employees at the Shanghai office of top consultancy Bain.

Persons: ”, Terry Gou, wouldn’t, Mintz Organizations: Hong Kong CNN —, WPP, CNN, Reuters, Shanghai, Financial Times, drugmaker Astellas Pharma, China, Mintz Group, Bain Locations: China, Hong Kong, Shanghai, Beijing

☆ China is a stormy place to do business right now after shock exec arrests and Foxconn probes
▼ + stars: | 2023-10-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

That follows shock arrests and allegations of bribery at the Shanghai offices of US agency GroupM. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementChilling effectThe probes and arrests are likely to further chill foreign business activity in China. Outwardly, China's leaders have emphasized the country is open to foreign investment. "Both Chinese investment overseas and foreign investment in China have boosted friendship, cooperation, confidence, and hope," said Chinese Premier Xi Jinping earlier this month at a summit on the country's Belt and Road infrastructure initiative.

Persons: —, Foxconn, Bain, Mintz, Steve Tsang, it's, Xi, Dan Harris, Terry Gou, Gou, Tim Cook, Cook, Wang Wentao, Apple, GroupM Organizations: Apple, Foxconn, GroupM, Service, WPP, Financial Times, FBI, SOAS China Institute, New York Times, Chinese Communist Party, Huawei Locations: China, Shanghai, Taiwan, Beijing, New York, Seattle

☆ Paramount's Shari Redstone is open for business, but business may not be open for her
▼ + stars: | 2023-10-22 | by ( Alex Sherman | ) www.cnbc.com time to read: +11 min

Paramount Global 's controlling shareholder is open to a merger or selling the company at the right price, according to people familiar with her thinking. Spokespeople for Redstone and Paramount Global declined to comment. Paramount Global's market value was below $8 billion as of Friday. Discovery could merge with Paramount Global, though putting together Warner Bros. and Paramount Pictures may hold up deal approval with U.S. regulators. Paramount Global isn't actively working with an investment bank on a sale, according to people familiar with the matter.

Persons: Shari Redstone, David A, CNBC Shari, Jon Miller, SpongeBob, Guggenheim, Michael Morris, Morris, Warren Buffett, Berkshire Hathaway, Bob Bakish, Bakish, Wells, Steven Cahall, Cahall, CNBC's David Faber, Lina Khan, Laura Martin, haven't, Simon, Simon & Schuster, Sumner Redstone, NAI, Jim Cramer Organizations: National Amusements, Paramount Global, Allen & Company Sun Valley, Grogan, CNBC, Paramount, Redstone, Integrated Media, Advancit, Paramount Pictures, CBS, MTV, Nickelodeon, Comedy Central, BET, Showtime, NFL, Champions League, Viacom, Berkshire, Paramount Global's, Tech, Apple, YouTube, National Football, Federal Trade, Big Tech, Comcast, NBC, Fox, Disney, Needham & Co, Netflix, Bain, Co, Warner Bros, Sky, Scripps, Discovery, Simon &, MSD Partners Locations: Sun Valley , Idaho, Los Angeles , California, U.S

Branding signage for WPP, the largest global advertising and public relations agency at their offices in London, Britain, July 17, 2019. The fourth, GroupM China’s CEO and country managing director for WPP China, Patrick Xu, was questioned by police but not detained, the person said. Calls to GroupM's office in Shanghai to seek comment went unanswered and Xu did not immediately respond to an email requesting a response. An employee stationed in the closest police precinct to WPP's Shanghai office said police could not comment. Police visited U.S. management consultancy Bain & Co's Shanghai office in April, then in May, state TV aired a program showing a raid of consultancy Capvision Partners' offices.

Persons: Toby Melville, GroupM, Patrick Xu, Xu, Mark Read, Mintz, Capvision, Bain, Casey, Laurie Chen, Alison Williams Organizations: WPP, REUTERS, Rights, WPP China, Financial Times, Outdoor Holdings, SEC, Police, Bain, Co's, TV, Capvision Partners, Casey Hall, Thomson Locations: London, Britain, Shanghai, China, Beijing, Co's Shanghai

☆ China's Singles Day sales festival wraps up with e-commerce giants reporting sales growth
▼ + stars: | 2023-10-21 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

SHANGHAI, Nov 12 (Reuters) - Alibaba Group (9988.HK) reported that its Chinese e-commerce platforms Tmall and Taobao recorded "positive" year-on-year growth over this year's Singles Day sales period, which wrapped up at midnight on Saturday. Meanwhile competitor JD.com (9618.HK) said its festival GMV (gross merchandising volume) hit a "record high" over the sales period. A Bain and Company report released last week found that 77% of the 3,000 consumers it surveyed had planned to spend less or the same on Singles Day compared with last year. Though several consultancies were predicting Singles Day GMV growth across platforms would reach anywhere from 14% to 18% - returning to double-digit growth for the first time since the pandemic - the final sales picture will take longer to energe. Colour cosmetics, traditionally a strong performer throughout the Singles Day sales period, were expected to struggle this year as make-up demand remains low almost a year after China lifted strict COVID-19 restrictions.

Persons: Taobao, JD.com, Alibaba, Bain, Casey Hall, Simon Cameron, Moore Organizations: Alibaba, HK, PDD Holdings, Company, Nike, Thomson Locations: SHANGHAI, China

Branding signage for WPP, the largest global advertising and public relations agency at their offices in London, Britain, July 17, 2019. The fourth, GroupM China’s CEO and country managing director for WPP China, Patrick Xu, was questioned by police but not detained, the person said. An employee stationed in the closest police precinct to WPP's Shanghai office said police could not comment. "As our fourth largest market globally, China will continue to play a crucial role in WPP's long-term growth strategy. Police visited U.S. management consultancy Bain & Co's Shanghai office in April, then in May, state TV aired a program showing a raid of consultancy Capvision Partners' offices.

Tokyo CNN —China has formally arrested a Japanese man who was detained in March, according to officials from Japan’s Ministry of Foreign Affairs (MOFA) and the Japanese Embassy in Beijing. The arrest of the Japanese national, who was reportedly an employee of a Tokyo-based pharmaceutical firm, could further rattle foreign businesses in China, which have reported feeling more unsettled this year amid a crackdown on international consulting firms on national security grounds. According to Japanese public broadcaster NHK, the man was an employee of drugmaker Astellas Pharma and was detained in March by Chinese security authorities in Beijing on suspicion of violating the country’s criminal law and anti-espionage law. In May, state security authorities said they had raided several offices of Capvision, an advisory network. The issue has been cited as headache for foreign businesses, some of which were already having trouble convincing workers to relocate to China.

Persons: Hirokazu Matsuno, Japan’s MOFA, Mao Ning, “, ”, Weeks, Bain, — CNN’s Michelle Toh, Sophie Jeong, Mengchen Zhang Organizations: Tokyo CNN, Japan’s Ministry of Foreign Affairs, Embassy, NHK, drugmaker, Pharma, CNN, Foreign Ministry, Ministry of State Security, Mintz Group, American Chamber of Commerce, China’s Commerce Ministry, State Administration of Foreign Exchange Locations: China, Tokyo, Beijing, MOFA, Shanghai, Hong Kong

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Oct 19 (Reuters) - Japan's top banks are set to commit to 1.9 trillion yen ($12.7 billion) financing to support the merger of Kioxia Holdings and Western Digital's flash memory business, four people familiar with the matter told Reuters. Several tech deals have been scuppered in recent years due to delays in regulatory approvals or rejections by China. 2 player in NAND flash memory chips - and Western Digital's fourth-ranked flash business, would control a third of the global NAND flash market, on par with top player Samsung Electronics (005930.KS). Kioxia and Western Digital have held merger talks since 2021 but the negotiations have often stalled over a series of issues including valuation discrepancies. In Japan, the two companies jointly produce NAND flash memory chips, which are widely used in smartphones, personal computers and other devices to store digital data.

Persons: Kim Kyung, Bain, Nobuo Hayasaka, Makiko Yamazaki, Miho Uranaka, Maki Shiraki, Miyoung Kim, Tomasz Janowwski Organizations: REUTERS, Rights, Kioxia Holdings, Reuters, Intel Corp, China ., Sumitomo Mitsui Financial Group, Mizuho Financial Group, Mitsubishi UFJ Financial, Development Bank of Japan, SK Hynix, Toshiba Corp, Samsung Electronics, Nasdaq, Western, Mitsubishi, Mizuho, Sumitomo Mitsui, Western Digital, Thomson Locations: Tokyo, Japan, China, Kioxia

☆ Nexi shares fail to open on bid report as CVC declines to comment
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

Bloomberg reported on Tuesday that CVC was in the early stages of considering a possible bid for Nexi, Europe's largest payments company by volume of transactions. Nexi shares have lost 22% this year, adding to a 47% drop in 2022 and stoking speculation about potential takeover interest. By 0730 shares in Nexi were indicated up 16.7% at 6.72 euros a share, not far from a record low of 5.25 euros a share hit earlier this month. The presence of shareholder funds which will eventually need to liquidate their investment and the depressed share price have fuelled persistent speculation about Nexi's future. The government has powers to block any unwanted interest over a company such as Nexi, considered of strategic national interest.

Persons: Alessandro Garofalo, Friedman, Bain, Elisa Anzolin, Giancarlo Navach, Valentina Za, Cristina Carlevaro, Gavin Jones Organizations: REUTERS, CVC Capital Partners, Bloomberg, Nexi, Nets, Thomson Locations: Milan, Italy, Nexi

☆ Virgin Australia's IPO executive David Marr resigns
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: 1 min

Aircraft from Australia's second largest airline, Virgin Australia, sit on the tarmac at the domestic terminal of Sydney Airport in Australia, August 19, 2018. Picture taken August 19, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsOct 17 (Reuters) - Bain Capital-owned Virgin Australia (IPO-VIR.AX) on Tuesday said its Chief Development Officer David Marr, who was assigned to lead the airline's plans for an eventual initial public offering (IPO), has stepped down from his role. "A significant amount of this work is now complete and while we are committed to an IPO as soon as practicable, the timing of an actual listing is dependent on capital markets conditions," the airline said in an emailed response to Reuters. Reporting by Poonam Behura in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, David Marr, Poonam, Janane Organizations: Virgin, Sydney Airport, REUTERS, Bain Capital, Virgin Australia, Reuters, Thomson Locations: Australia's, Virgin Australia, Australia, Bengaluru

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Oct 17 (Reuters) - Mitsubishi Corp (8058.T) is considering bidding for Fujitsu's (6702.T) chip packaging unit Shinko Electric Industries (6967.T), two sources said, as Japan's top trading house weighs an entry into semiconductor manufacturing. Fujitsu has put its 50% stake in Shinko Electric, worth around $2.6 billion at current market prices, on sale, other sources said. A Mitsubishi spokesperson said the trading house had set up a division in June dealing with chips and materials that was looking into various opportunities. A Shinko spokesperson declined to comment. Still, semiconductor packaging remains an area of strength for Japan with Shinko, Ibiden (4062.T) and Toppan Holdings (7911.T) all major players in the global chip supply chain.

Persons: Kim Kyung, Warren Buffett's Berkshire Hathaway, Makiko Yamazaki, Maki Shiraki, Miho Uranaka, David Dolan, Muralikumar Organizations: Mitsubishi Corp, REUTERS, Rights, Electric Industries, Mitsubishi, Fujitsu, Bain Capital, KKR, Apollo Global Management, Japan Investment Corp, Intel, Devices, Toppan Holdings, Taiwan Semiconductor Manufacturing, Samsung Electronics, Reuters, Thomson Locations: Tokyo, Japan, Kyushu, Chitose . Japan

☆ Fashion brands want you to be able to identify fake designer merchandise
▼ + stars: | 2023-10-13 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +13 min

‘It’s almost seen as a hack’These tactics are all part of the industry’s hope to neutralize the booming counterfeit market, with some estimates asserting that fake fashion and luxury items account for 60% or more of the multi-trillion-dollar trade in fake goods. Sympathy for brands “can be hard for consumers in general, particularly those who are deeply steeped in TikTok culture,” Scafidi said. According to Business of Fashion, the average price for a women’s designer handbag in the US spiked 27% from 2019 to 2022. Last year saw record-breaking profits for the luxury sector, with around 95% of brands seeing growth, according to an estimate by consulting firm Bain & Company. “Right now, vintage is on trend, and we actually see new replicas of vintage items — items that were made in the ’80s or ’90s,” Thompson said.

Persons: Louis Vuitton, Cartier, Birkin, Miu Miu, Chanel, ”, Simon Lock, LVMH, Maison, OTB, ‘ It’s, dupes, Counterfeiters, Sarah Davis, “ it’s, what’s, Susan Scafidi, “, Leah Abucayan, ” Scafidi, Fashionphile, Davis, Hunter Thompson, “ It’s, ” Thompson, ” Davis, Scafidi, Romain Carrere, “ We’re, ” Carrere, it’s Organizations: CNN, luxe, Ordre Group, Burberry, Prada Group, Dior, Prada, YouTube, Social, Fashion Law, Business of Fashion, Bain & Company, Technology, Blockchain Locations: Fashionphile, Europe, —

LONDON/ZURICH, Oct 13 (Reuters) - Switzerland's SoftwareOne Holding (SWON.S), which helps companies manage software purchases from vendors such as Microsoft, Adobe and IBM, received non-binding bids this week from private equity firms Bain Capital and Apax Partners, said two people familiar with the situation. The Swiss software manager has been holding management presentations this month as part of a strategic review run by JPMorgan, a third person said. Non-binding bids were due on Oct. 11 and at least four parties submitted proposals, one of the people said. SoftwareOne declined to comment. ($1 = 0.9050 Swiss francs)($1 = 0.9014 Swiss francs)Reporting by Amy-Jo Crawley, Oliver Hirt and Anousha Sakoui; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: SoftwareOne, Amy, Jo Crawley, Oliver Hirt, Louise Heavens Organizations: Microsoft, Adobe, IBM, Bain Capital, Apax Partners, JPMorgan, Thomson Locations: ZURICH, Swiss

☆ Samsung flags 78% profit drop as chip demand remains weak
▼ + stars: | 2023-10-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Samsung warned that operating profit in the third quarter likely plunged 78% as it continues to contend with lower than usual demand for consumer devices. The South Korean tech giant released earnings estimates Wednesday, forecasting operating profit of about 2.4 trillion Korean won ($1.8 billion) for the three months ended September. That compares with 10.85 trillion won ($8 billion) in the same period last year. The firm’s operating profit plummeted 95% in the first quarter, following a record loss in its semiconductor business. Samsung has also told shareholders it anticipates a gradual comeback in global demand in the second half of the year.

Persons: Bain, “ Organizations: Hong Kong CNN, Samsung, South, Revenue, Counterpoint Research, Nomura Locations: Hong Kong, North America, Seoul

☆ Vietnam's growth story is 'very similar' to India's, says Bain Capital
▼ + stars: | 2023-10-11 | 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 EmailVietnam's growth story is 'very similar' to India's, says Bain CapitalSarit Chopra of the investment firm explains why Vietnam is "one of the most exciting economies in the region."

Persons: Sarit Chopra Organizations: Bain Locations: Vietnam

☆ Virgin Australia clocks first profit in 11 years as travel demand recovers
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

Aircraft from Australia's second largest airline, Virgin Australia, sit on the tarmac at the domestic terminal of Sydney Airport in Australia, August 19, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsOct 10 (Reuters) - Bain Capital-owned Virgin Australia said on Tuesday that the airline returned to a profit for the first time in 11 years for fiscal 2023, buoyed by a strong recovery in travel demand following the COVID-19 pandemic. The carrier reported a statutory net profit after tax of A$129 million ($82.93 million) for the full year ended June 30, 2023, compared with a loss of A$565.5 million in 2022. Virgin Australia now has a considerably stronger balance sheet with continued significant improvement in its cost base, CFO Race Strauss said in a statement on Tuesday. Virgin was upbeat on its capital position, reporting total debt including leases of A$2.3 billion and over A$1 billion of cash on the balance sheet.

Persons: David Gray, Bain, Race Strauss, Strauss, Roushni Nair, Nausheen, Rashmi Organizations: Virgin, Sydney Airport, REUTERS, Bain Capital, Virgin Australia, Australian Securities Exchange, Reuters, GQG Partners, Airlines, Thomson Locations: Australia's, Virgin Australia, Australia, Bengaluru

"The most serious outcome for crude is that the conflict escalates into a more devastating proxy war which could affect crude supply," said Rebecca Babin, senior energy trader at CIBC Private Wealth US. Israel's port of Ashkelon and its oil terminal have been shut in the wake of the conflict, sources said. Goldman Sachs said the conflict reduced the likelihood of normalization of Israel's relations with Saudi Arabia, and the associated boost to Saudi production over time. The conflict is likely to lead to higher volatility and speculation in oil markets, the CEO of Brazil's Petrobras (PETR4.SA) said. High oil price due to the conflict could bolster inflation, analysts said, forcing rate hikes that could dampen demand.

Persons: recouping, Brent, WTI, Israel, Rebecca Babin, Agustin Marcarian, Goldman Sachs, Caroline Bain, Saxo Bank's Ole Hansen, Nicolas Maduro, Arathy Somasekhar, Natalie Grover, Andrew Hayley, Emily Chow, Kirsten Donovan, Lisa Shumaker, David Gregorio Our Organizations: HOUSTON, . West Texas, Reuters Graphics Reuters, Hamas, CIBC Private Wealth, Israel, REUTERS, Saudi, Analysts, Capital Economics, U.S, Petrobras, PETR4, Thomson Locations: Saudi, Israel, Ashkelon, Israel US, Venezuela, Palestinian, Gaza, Saudi Arabia, Washington, Riyadh, Vaca, Patagonian, Neuquen, Argentina, Moscow, U.S, Iran, Russia, Caracas, Mexico, Tel Aviv, Houston, London, Beijing, Singapore

Brent crude was up $3.24, or 3.8%, to $87.85 a barrel by 11 a.m. ET (1500 GMT), while U.S. West Texas Intermediate crude was at $86.19 a barrel, up $3.40 or about 4.1%. Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. Analysts suggested the implications of the conflict could include a potential slowdown in Iranian exports, which have grown significantly this year, despite U.S. sanctions. Any production and export disruption would exacerbate supply tightness as most analysts expect markets to be in a deficit in the second half of the year.

Persons: recouping, Brent, WTI, Tudor Pickering, Matt Portillo, Agustin Marcarian, Saxo Bank's Ole Hansen, Caroline Bain, Arathy Somasekhar, Natalie Grover, Andrew Hayley, Emily Chow, Kirsten Donovan, Lisa Shumaker Organizations: U.S, West Texas, Reuters Graphics Reuters, Saturday, REUTERS, Israel, White, Capital Economics, Thomson Locations: Saudi, Israel, HOUSTON, Palestinian, Holt, Gaza, Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Washington, Riyadh, Moscow, Russia, U.S, Iran, Houston, London, Beijing, Singapore

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. The top two deals this year, Toshiba Corp (6502.T) and JSR Corp (4185.T), had activists on their rosters. The strong M&A market comes as two long-standing obstacles to Japanese dealmaking - reluctance towards unsolicited takeovers and difficulties in cutting overlapping jobs in post merger integrations - may be fading. "Previously, excess employment issues held back M&A, because cutting overlapping headcount is the primary way M&A cuts costs and raises returns," Smith said. "As the labour shortage bites, expect M&A to surge as companies start being targeted as labour reservoirs."

Persons: Androniki, LSEG, David Gross, Loh, Jim Verbeeten, Shinsuke Tsunoda, " Bain Capital's Gross, Nicholas Smith, Smith, Makiko Yamazaki, Kane Wu, Sumeet Chatterjee, Stephen Coates Organizations: Toshiba Corporation, REUTERS, Toshiba, Bain Capital Asia, Bankers, Tokyo bourse, Toshiba Corp, JSR, Bain & Company, Nomura Securities, Marelli Holdings, KKR, Nidec Corp, Thomson Locations: Kawasaki, Japan, TOKYO, HONG KONG, Tokyo

Hong Kong CNN —Capvision, an international advisory firm whose offices in China were raided by officials, says it has successfully completed a national security inspection overseen by the Chinese government. The raids were part of a broader crackdown on the consulting industry by Beijing as it seeks to tighten control over what it considers sensitive information related to national security. “We have deeply realized that the consulting sector must step up the awareness of safety and security. The fine came to light months after authorities closed the firm’s Beijing office in March and detained five of its local employees. In April, police questioned staff at the Shanghai offices of global consulting giant Bain & Company.

Persons: Hong Kong CNN —, ” Capvision, Capvision, Mintz Organizations: Hong Kong CNN, CNN, Mintz Group, Bain & Company Locations: China, Hong Kong, Shanghai, New York, Beijing, American

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