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☆ NYC priest who allowed Sabrina Carpenter to shoot a music video in church further stripped of duties
▼ + stars: | 2024-11-19 | by ( Associated Press | ) edition.cnn.com time to read: +5 min

New York AP —The leader of a New York City church where pop star Sabrina Carpenter filmed provocative scenes for a music video was stripped of his duties Monday after church officials said an investigation revealed other instances of mismanagement. Released on October 31, 2023, the “Feather” music video revolves around men behaving badly toward Carpenter before meeting grisly deaths. Among them is an ongoing investigation into Gigantiello’s use of a church credit card for “substantial” personal expenses, he said. Meanwhile, the commotion set off by her music video hasn’t been lost on Carpenter. She made light of it during a concert at Madison Square Garden in late September, just days after Adams became the first New York City mayor indicted while in office.

Persons: Sabrina Carpenter, Monsignor Jamie Gigantiello, ”, Bishop Robert Brennan, Gigantiello, Eric Adams ’, Brennan, “, Alvarez, Cromwell, Bishop Witold Mroziewski, Mroziewski “, Adriana Rodriguez, Carpenter, monsignor, Frank Carone, Adams, Carone, hasn’t, cheekily Organizations: York AP, Roman Catholic Diocese of, New York City, Marsal, Sullivan, New, Disney Channel, Federal, Madison, Garden Locations: New York City, Williamsburg, Brooklyn, Roman Catholic Diocese of Brooklyn, New York, Carmel, ”, Parish, Queens, “, Manhattan

A sign is posted on the exterior of a Red Lobster restaurant on April 17, 2024 in Rohnert Park, California. Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement. CNBC reported last month Red Lobster was seeking a buyer, weighed down by significant debt and long-term leases. At the time, it was tough to predict that Red Lobster would see sales drop as much as they have. "This restructuring is the best path forward for Red Lobster," Tibus said in a statement late Sunday.

Persons: — Jonathan Tibus, Alvarez, Marsal, Tibus, Red, we've, General Mills, Darden, Kim Lopdrup, Paul Kenny's, Kenny Organizations: CNBC, Golden, Darden, Food, General, Thai Union Group, Thai Union, Red Lobster, Seafood Alliance, Thai Locations: Rohnert Park , California, U.S, Canada, Orlando , Florida, Olive, Thai

☆ Wayfair to open its first large store, as physical locations make a comeback
▼ + stars: | 2024-05-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +10 min

Wayfair follows other direct-to-consumer brands that have opened stores, including Warby Parker , Figs , Casper, Glossier and Everlane. In the early 2010s, new store openings largely outpaced closures, until the tide turned in 2017. Jeenah Moon | Bloomberg | Getty ImagesOther privately held direct-to-consumer brands have also expanded into retail stores, including bedding company Brooklinen, furniture store Burrow and apparel brands Everlane and Untuckit. High cost of entryIf direct-to-consumer brands could all open stores and suddenly boost sales and profitability, they'd all be doing it. Courtesy: WayfairSome direct-to-consumer brands have already been burned after they expanded too quickly and demand fell.

Persons: Niraj Shah, Wayfair, Warby Parker, Glossier, They're, Larry Cheng, It's, you'll, Liza Lefkowski, Shah, Coresight, John Mercer, Coresight's, Trina Spear, Spears, King, King of Prussia, Rebecca Fitts, Alvarez, Tolia, Allbirds, Al Drago Organizations: CNBC, Apple iOS, Companies, Walmart, Target, Joss, Discount, TJX, Bloomberg, Getty, Marsal, Washington , D.C Locations: Wilmette , Illinois, Chicago, Casper, Amazon, U.S, Coresight Research's, Burlington, Los Angeles, Philadelphia, King, King of Prussia , Pennsylvania, Georgetown, Washington ,

The Times Square Red Lobster will be offering free all-you-can-eat lobster to a select few customers on March 28. Beleaguered seafood chain Red Lobster is seeking a buyer as it looks to avoid filing for bankruptcy, CNBC has learned. Red Lobster could secure a buyer, it could declare bankruptcy or its lenders could take control of the company. This year marks the 10-year anniversary of Darden Restaurants' sale of Red Lobster after investors pushed the company to divest. As a result, Red Lobster reported $11 million in losses in the fiscal third quarter and $12.5 million in losses the following quarter.

Persons: it's, Jonathan Tibus, Alvarez, Lobster, Kim Lopdrup, Kelli Valade, Horace Dawson, Red Organizations: Times, CNBC, Bloomberg, Red Lobster, Darden Restaurants, Golden Gate Capital, Thai Union Group, Red, Seafood Alliance Locations: Golden

☆ Aldi’s ‘aisle of shame’ is a middle row of goodies that have nothing to do with groceries. Shoppers are huge fans of it
▼ + stars: | 2024-04-19 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +10 min

Inside every Aldi store is a single aisle of merchandise that mostly has nothing to do with groceries. The Wednesday rush can often be pinned on die-hard Aldi shoppers, 3 million of whom are members of the very active Aldi Aisle of Shame Facebook page and frequently post about their latest aisle of shame hauls. They know it’s Aldi,” Pratt said. The German Supermarket acquired Winn-Dixie, Harveys Supermarkets and other grocery stores in the Southeast in an attempt to increase its presence in the region. That’s where this aisle of shame fits in and helps Aldi offer its low prices overall.”

Persons: New York CNN — Caitlyn Pratt, Pratt, Aldi’s, who’s, ” Pratt, she’s, “, Caitlyn Pratt, Caitlyn Pratt Pratt, ”, I’ve, Britney Henderson, Britney Henderson Britney Henderson, “ I’m, ” Henderson, Aldi, John Clear, Alvarez, Clear, Jason Hart, Brandon Bell Organizations: New, New York CNN, Walmart, Aldi, CNN, ALDI, Morning, Target, Costco, German Supermarket, Harveys, Products Locations: New York, Heavener , Oklahoma, Arkansas, Iowa, Atlanta , Georgia, It’s, Pflugerville , Texas, Winn

☆ We see polarization of debt levels amongst Indonesia's listed companies: Expert
▼ + stars: | 2024-02-13 | 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 EmailWe see polarization of debt levels amongst Indonesia's listed companies: ExpertAlessandro Gazzini from Alvarez & Marsal says close to 15% of listed companies in Jakarta are actually not in good financial health due to overextended debt load, but the healthy ones are getting even healthier.

Persons: Alessandro Gazzini, Marsal Organizations: Alvarez Locations: Jakarta

☆ 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

☆ Evergrande liquidation: Here’s what may happen next
▼ + stars: | 2024-01-31 | by ( Laura He | ) edition.cnn.com time to read: +9 min

But there is still little clarity over how the liquidation of Evergrande will unfold. That’s because the legal systems of Hong Kong and China remain distinct, despite Beijing’s growing control over the former British colony in recent years. No Chinese company as huge as Evergrande — which was once China’s second largest developer— has been wound up by a Hong Kong court. Hui Ka Yan, chairman of property developer China Evergrande. Since then, Evergrande has been building and selling apartments in mainland China, even though it has been unable to repay its debts.

Persons: Alvarez, Marsal, —, ”, John Bringardner, Hong, Hui Ka Yan, Xu Jiayin, Hui, Xiao En, Bobby Yip, Xiao, Evergrande, Florence Lo, homebuyers, Will, Andy Wong, Diana Choyleva, Xiao Yuanqi, ” Bringardner, ” Choyleva, Choyleva, “ Evergrande Organizations: Hong Kong CNN, Shimao, Kaisa Holdings, Group, “, Real, Century Business Herald, China Index Academy, Enodo, Communist Party, China’s, Financial Regulatory Administration, Getty, People’s Bank of China, Finance Ministry, Evergrande, Marsal Locations: Hong Kong, United States, China, British, New York, China . Hong Kong, Shenzhen —, Asia, Florence, Beijing, Real, Hainan

☆ Beijing is unlikely to rescue Evergrande's offshore creditors because it could make things worse at home
▼ + stars: | 2024-01-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewOn Monday, Chinese real-estate giant Evergrande was ordered by a Hong Kong court to liquidate after two years in a debt crisis. The court has appointed Alvarez and Marsal as liquidator to manage the company, Evergrande said in a filing to the Hong Kong Stock Exchange. So, protecting Evergrande's offshore investors probably isn't in Beijing's favor, because it could spur further speculation in the market, Møller added. Offshore creditors are owed $25 billion, the Hong Kong court document showed, per CNN. This is because liquidators appointed by Hong Kong's courts are unlikely to have much power over Evergrande's mainland assets, Hong added.

Persons: —, Evergrande, Alvarez, Marsal, Emil Møller, Møller, there's, Xi Jinping's, Fern Wang, Wang, Hao Hong, liquidators, Hong, Siu Shawn Organizations: Service, Business, Hong Kong Stock Exchange, Steno Research, Lombard, KT Capital Group, CNN, Grow Investment, China Evergrande Group, Reuters, Century Business Herald, Hengda Real Locations: Hong Kong, Beijing, China, Denmark, Beijing's, homebuyers, Swiss, People's Republic of China, Hengda

☆ China Evergrande Must Be Liquidated, a Judge Said. What Happens Next?
▼ + stars: | 2024-01-29 | by ( Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

After nearly two years of false starts, last-ditch proposals and pleas for more time, China Evergrande, a massive property company, has been ordered to dismantle itself. The worries in real estate, where most households put their savings, helped tip the economy into a downturn. The Evergrande bankruptcy will play out in Hong Kong and China. A Hong Kong judge, Linda Chan, on Monday ordered Evergrande’s liquidation and appointed Alvarez & Marsal, a firm that specializes in bankruptcy cases, to manage the unwinding. The firm’s role will be to help creditors — particularly overseas investors who made loans to Evergrande — get some of their money back.

Persons: Lehman, Linda Chan, Alvarez, —, Marsal Organizations: Lehman Brothers, U.S ., Hong, Marsal, Court, Alvarez Locations: China, U.S, Hong Kong, Beijing

☆ The 'distressed bucket' of companies in Indonesia is growing, professional services firm says
▼ + stars: | 2024-01-23 | 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 EmailThe 'distressed bucket' of companies in Indonesia is growing, professional services firm saysAlessandro Gazzini, managing director and Indonesia country head at Alvarez & Marsal, says there's a "polarization of performance" among companies, with the healthy ones "getting healthier, while the laggards are really struggling and growing in number."

Persons: Alessandro Gazzini, Marsal Organizations: Alvarez Locations: Indonesia

The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. The defaulted company has until a Hong Kong court hearing on Monday to present a "concrete" revised debt restructuring proposal for offshore creditors, a judge said last month after its original plan had lapsed. Guangzhou-based Evergrande, which defaulted on its offshore debt in late 2021, did not respond to a request for comment. Chinese authorities have announced a string of measures to revive the sector destabilised by the debt woes of giants like Evergrande and Country Garden (2007.HK). Reporting by Clare Jim and Xie Yu in Hong Kong, Scott Murdoch in Sydney; Editing by Sumeet Chatterjee and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Evergrande, Hui Ka Yan, Alvarez, Marsal, Clare Jim, Xie Yu, Scott Murdoch, Sumeet Chatterjee, William Mallard Organizations: China Evergrande Group, REUTERS, China Evergrande, HK, Hong Kong, Court, Reuters, Hong, Evergrande, Services, New Energy Vehicle Group, Marsal, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, Hong Kong, China's, Guangzhou, Evergrande, Sydney

☆ Want to pick a winning retail stock this holiday season? Watch for discounts and deflation
▼ + stars: | 2023-11-22 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +9 min

However, he added, they remain more upbeat compared with last holiday season and should spend more on gifts this year. According to FactSet, analysts anticipate there could be upside of more than 20% ahead, based on average price targets. The e-commerce giant is JPMorgan analyst Doug Anmuth's top pick for the holiday season. "We project US e-comm penetration at 23.4% of adj retail sales this holiday season, +90bps above the 22.5% in 2022," he said. "We think beauty has the potential to be a relevant gifting solution for cash-strapped consumers during the upcoming Holiday season," he said.

Persons: Chad Lusk, Alvarez, Lusk, Martis, LSEG, Inna Kuznetsova, Doug Anmuth's, Doug McMillon, Krisztina Katai, Katai, Michael Lasser, Ulta, Lasser, ToolsGroup's Kuznetsova, Marsal's Lusk, Michael Bloom Organizations: Shoppers, CNBC, Walmart, Target, Retailers, Centric Market Intelligence, Amazon, LSEG, JPMorgan, Deutsche Bank, Costco, UBS, Fed, Black Locations: Lusk, Ulta, Wayfair, Williams, Sonoma

☆ Sephora has locked up all its perfume. It says too many people were stealing
▼ + stars: | 2023-11-15 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +5 min

New York CNN —Sephora has drastically changed the way people shop for fragrances in its stores, and it’s blaming store thefts for it. Sephora locked up the fragrances and added more staff specifically tasked with stopping theft. “To minimize the threats of retail theft and to provide our shoppers with the peace of mind during their experience at Sephora, we’ve increased the presence of Sephora loss prevention investigators across all stores. “The ultimate victim of retail crime is 100% the consumer,” said Landon Winkelvoss, co-founder of Nisos, a provider of threat intelligence to companies and organizations. “Sephora freed the products and put them straight into consumers hands so they could touch, swatch and experience the products at their leisure,” she added.

Persons: New York CNN — Sephora, Sephora, I’m, ”, Mark Skertic, Skertic, Landon Winkelvoss, Manola Soler, Alvarez, “ Sephora Organizations: New, New York CNN, CNN, “, eBay, Facebook, Walgreens, Marsal’s Consumer, Retail, swatch Locations: New York, Sephora, Chicago

☆ WeWork, once valued at $47 billion, files for bankruptcy
▼ + stars: | 2023-11-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

The WeWork logo is displayed outside of a shared commercial office space building in Los Angeles, California on August 8, 2023. The bankruptcy filing is limited to WeWork's locations in the U.S. and Canada, the company said in a press release. The company reported liabilities ranging from $10 billion to $50 billion, according to a bankruptcy filing. Valued in 2019 at $47 billion in a round led by Masayoshi Son's SoftBank, the company tried and failed to go public five years ago. The company leases millions of square feet of office space in 777 locations around the world, according to its regulatory filings.

Persons: WeWork, Patrick T, Fallon, PATRICK T, FALLON, David Tolley, Masayoshi Son's SoftBank, Adam Neumann, Neumann, Kirkland, Ellis, Cole Schotz, PJT, CNBC's Ari Levy Organizations: Securities and Exchange Commission, SEC, Getty, New York Stock Exchange, CNBC, PJT Partners, C Street Advisory Group, Alvarez, Marsal Locations: Los Angeles , California, AFP, New Jersey, U.S, Canada

☆ Management of bankrupt Volta Trucks seeking buyer - source
▼ + stars: | 2023-10-19 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

A Volta Zero electric truck is seen during the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 6, 2023. REUTERS/Angelika Warmuth Acquire Licensing RightsCompanies Volta Trucks AB FollowLONDON, Oct 19 (Reuters) - The management of bankrupt electric truck maker Volta Trucks is urgently seeking a buyer to take the company out of administration and help it complete the ramp-up to mass production, a source familiar with the issue told Reuters. The startup had picked a factory in Austria to make its trucks and had been working toward mass production. Representatives of executives at Alvarez & Marsal Europe (A&M), who have been appointed as bankruptcy administrators for Volta Trucks' UK operations, could not be reached for comment. A few, including EV parts supplier Proterra and electric pickup truck maker Lordstown Motors, have begun bankruptcy proceedings.

Persons: Angelika Warmuth, Nick Carey Organizations: REUTERS, Volta, Reuters, Volta Trucks, Management, Alvarez, Marsal Europe, EV, Lordstown Motors, Thomson Locations: Munich, Germany, Sweden, United Kingdom, Austria

Failure to secure the cash they need at rates they can afford, could lead to insolvencies and layoffs. "I think we're now starting to finally see the fall of some of the zombies," she added. This can include restructuring loan repayments, offering reduced rates or other more relaxed terms and can help banks avoid loan write-offs. "Banks and private equity shops have waited to see if the tide turned but higher rates don't allow hiding anymore." Any large corporate failures are likely to have a "contamination effect", said Tim Metzgen, an A&M managing director.

Persons: Dado Ruvic, Alvarez, Julie Palmer, Begbies Traynor, we're, Begbies, Nicola Marinelli, Banks, Paul Kirkbright, Kirkbright, Eva Shang, Katie Murray, Naresh Aggarwal, Ravi Anand, Anand, Tim Metzgen, Jane Merriman Organizations: REUTERS, Reuters, Britain's, National Statistics, Casino, Regent's University, of England, Bank of, Finance, M's, NatWest Group, Association of Corporate, Companies, Thomson Locations: Europe, Middle East, Africa, England, Wales, U.S, Basel III

Reuters GraphicsReuters spoke to four shareholders that have launched activist campaigns who said that some big consumer goods companies are ripe for executive changes after failing to impress. Reuters GraphicsMany large consumer goods companies generally hold low levels of debt and are cash generative, said André Medeiros, managing director and Alvarez & Marsal's EMEA consumer and retail leader. 'ADVOCATING FOR MANAGEMENT CHANGE'Gianluca Ferrari, founding partner of investor Clearway Capital, said his firm had some consumer companies on its radar but declined to name them. He did not identify specific executives nor disclose the nature of his work with consumer companies. In October, Reuters reported that Peltz had approached former CEOs of consumer goods companies as candidates for the Unilever top job.

Persons: Danone's, Emmanuel Faber, David Samra, Samra, Alvarez, Marsal, André Medeiros, Nelson Peltz, Artisan's Samra, We're, Peltz, Heinz, Gianluca Ferrari, Ferrari, Clearway, Glanbia, Faber, Bluebell, Nicolas Ceron, Ceron, underperformance, Kraft Heinz, KHC.O, Andrew Hayes, Russell Reynolds, John Long, Korn, Long, Alan Jope departure's, Unilever's, Graeme Pitkethly, Hein Schumacher, Heinz's, Bill Johnson, Nelson, Richa Naidu, Matt Scuffham, Daniel Flynn Organizations: Artisan Partners, Reuters, Danone, Evian, Unilever, Consumer Products, Reuters Graphics Reuters, Reuters Graphics, Marsal's EMEA, Billionaire, Artisan, Cadbury Schweppes, Heinz, Trian, Bluebell Capital, shareholders, Bluebell, Diageo, Russell Reynolds Associates, Thomson Locations: York, H.J, Frankfurt, Western Europe, North America

☆ Large US tech companies face new EU regulations
▼ + stars: | 2023-08-25 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

Although the European Union’s Digital Services Act (DSA) passed last year, companies have had until now to prepare for its enforcement. Friday marks the arrival of a key compliance deadline — after which tech platforms with more than 45 million EU users will have to meet the obligations laid out in the law. But the list finalized in April includes the most powerful tech companies in the world, and, for those firms, violations can be expensive. The DSA permits EU officials to issue fines worth up to 6% of a very large platform’s global annual revenue. In a statement, a Microsoft spokesperson told CNN the DSA deadline “is an important milestone in the fight against illegal content online.

Persons: “, TikTok, “ We’ve, ”, Nick Clegg, Meta, Snap, Apple, Pinterest, Robert Grosvenor, Alvarez, ” Grosvenor, Thierry Breton, Breton, X, Agustin Reyna, Court’s, ” TikTok Organizations: CNN, Amazon, Apple, Google, Meta, Microsoft, Union’s Digital Services, EU, DSA, Companies, Facebook, European Commission, X Locations: Europe, London, “, BEUC

☆ WeWork tapping advisers for restructuring help - Bloomberg News
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

The WeWork logo is displayed on a screen during the company's IPO on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 21, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 23 (Reuters) - WeWork (WE.N) is tapping advisers for restructuring advice as it struggles with a heavy debt load and poor financial performance, Bloomberg News reported on Wednesday citing people familiar with the matter. Shares of the Softbank Group-backed (9984.T) WeWork fell about 15% to 0.12 cents in afternoon trade. The New York Stock Exchange (NYSE) suspended trading in WeWork's warrants on Tuesday due to "abnormally low" trading price levels and said will initiate proceedings to delist them. WeWork, Hilco Global, Alvarez & Marsal and Kirkland & Ellis did not immediately respond to Reuters' requests for comment.

Persons: Brendan McDermid, WeWork, Hilco, Alvarez, Kirkland, Ellis, Kannaki, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Bloomberg, Softbank, Marsal, Hilco Global, Kirkland, Thomson, & & ' Locations: New York City, U.S, Bengaluru

☆ If automakers like Ford and GM want to catch Tesla, they'll have to offer fewer options on your new car
▼ + stars: | 2023-08-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Tesla and automakers in China have found ease and success in having fewer options. Car buyers like having options — but as the Tesla and Chinese automakers continue to find success in electric vehicles, old-guard automakers would do well to force buyers to compromise. Elon Musk's automaker has pared down the build options it gives customers to fewer color options and interior choices, limited trims, and many features that simply come standard. The lack of build complexity has been an advantage for Tesla, startup EV makers, and Chinese competitors, experts say. "A number of the traditional players have initiatives underway to benchmark the build complexity of their start-up competitors."

Persons: Elon, Brian Irwin, Alvarez, Irwin, Ford, Jim Farley, Farley, Mary Barra, Barra Organizations: Morning, Tesla, Elon Musk's, GM, Ford, Benz, Subaru Locations: China, Detroit, Germany

Consumer goods makers say the price hikes are necessary, and that they have taken a hit to margins over the past two years. Some companies such as Clorox (CLX.N) have even begun to ease off the hikes to protect sales volumes as input costs fall. "In the U.S. in particular, these pressures are more acute than in Europe," Janus Henderson portfolio manager Luke Newman told Reuters. U.S. consumer strength has begun weakening, "and that's bad news for the consumer companies," Barclays analyst Iain Simpson said. Still, cost inflation has chipped away at margins, which have broadly fallen 2-4 percentage points over the past two years for the consumer goods industry.

Persons: Janus Henderson, Luke Newman, Newman, Richard Marwood, Robert Klaber, Parnassus, Iain Simpson, Alvarez, Marsal, David Chavern, Stephanie Niven, Niven, Irene Jensen, Jensen, Thomas Joekel, Richa Naidu, Jessica DiNapoli, Matt Scuffham, Deepa Babington Organizations: U.S, Consumer, Reuters, Royal London Asset Management, Investments, Biden, Barclays, Procter, Gamble, Consumer Brands Association, Sustainable Equity Fund, Norges Bank Investment Management, Unilever, Reckitt, Investment, Thomson Locations: Ukraine, U.S, Europe, San Francisco, United States

☆ Activist shareholders are paying 'much more attention' to Europe, says consultant
▼ + stars: | 2023-07-11 | 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 EmailActivist shareholders are paying 'much more attention' to Europe, says consultantMalcolm McKenzie, managing director at professional services firm Alvarez & Marsal, discusses a new wave of activist shareholders in Europe where there is "money to be made"

Persons: Malcolm McKenzie, Alvarez Organizations: Marsal Locations: Europe

☆ Paris summit: More needs to be done for low-income countries, says Pakistan's ex-central bank chief
▼ + stars: | 2023-06-22 | 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 EmailParis summit: More needs to be done for low-income countries, says Pakistan's ex-central bank chiefReza Baqir, managing director at Alvarez & Marsal and former governor of the State Bank of Pakistan, says "there will be pledges, but if history is any guide … the world will not have an adequate mechanism to monitor how those pledges convert to actual inflows for developing countries."

Persons: Reza Baqir, Alvarez Organizations: Marsal, State Bank of Locations: Paris, State Bank of Pakistan

☆ Automakers are replacing decades of know-how with strategies from Tesla's playbook
▼ + stars: | 2023-06-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Auto companies need EV battery supply more than ever, but the costs are adding up. Prices and a push to use local materials have carmakers investing in in-house battery supply. That means car companies are seeking an alternative and racing to secure their battery supply in the US. But the pandemic — and other disruptions, like natural disasters — shed a light on just how vulnerable that can also make auto companies. It's complicated and time-consuming, but may ultimately be the best way car companies can get closer to lowering the cost of new EVs.

Persons: Tesla, they've, They've, Peter Maithel, Julian Stratenschulte, There's, We've, Matt Sculnick, Nomura, Rivian, —, Alvarez, Tony Lynch, Kelley Organizations: Auto, EV, Morning, Infor, Volkswagen, Getty, Marsal, GM, Ford Locations: Europe, Asia, China, Illinois

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