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☆ Finnish businessman Zilliacus drops out of Manchester United bidding
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

April 13 (Reuters) - Finnish businessman Thomas Zilliacus has dropped out of the bidding for Manchester United, saying delays in the sale process will make it difficult for a new owner to build a winning team. United's American owners, the Glazer family, launched a formal sale process late last year, with several bids received in February and March. read more"I have declined participation in a third bidding round for United," Zilliacus said on social media. "The delays will make it very difficult for any new owner to build a winning team for next season." Sports industry news site Sportico reported this week that Manchester United would accept a third round of bids from prospective buyers at the end of the month.

☆ Stop stereotyping Gen Z. Focus instead on why we're disillusioned about the future of work.
▼ + stars: | 2023-04-12 | by ( Alexandra York | ) www.businessinsider.com time to read: +6 min

But Gen Zers who work overtime on their own startups or corporate roles disprove the "lazy" stereotype. Most of my Gen Z peers actually fall somewhere in between, advocating for work-life balance and professional growth, including climbing the corporate ranks. Our jobs aren't our whole identityI talk with Gen Zers every day and most of the time we don't speak about our careers. have recently come under fire for being too network-y, which is a no-go for many in Gen Z. Why we feel anxious about workFor many Gen Zers, discontent with the workforce dates back to middle school.

☆ Man Utd to accept third round bids ahead of potential sale - report
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Manchester United will accept a third round of bids from prospective buyers at the end of the month as the Premier League club's owners explore a sale, sports industry news site Sportico reported on Tuesday. Manchester United and Raine Group, the investment bank running the bidding process, did not immediately respond to a Reuters request for comment. United's American owners, the Glazer family, launched a formal sale process late last year, with several bids received in February and March. Any sale would likely exceed the biggest sports deal so far, the $5.2 billion including debt and investments paid for Chelsea. Reporting by Aadi Nair in Bengaluru; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ How much a part-time TikToker who posts career advice for his 74K followers earns per month — and how he navigates the industry
▼ + stars: | 2023-04-07 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +4 min

The 27-year-old makes TikTok videos giving career advice to Gen Z and millennial professionals. Now, he has 72,600 followers on TikTok, and has landed brand deals with companies like Google, L'Oréal, Adobe, Kiehl's, and Hollister. He was paid $300 to create three TikTok videos for $100 apiece. "All these brand deals come to me, I don't do any outreach," he said. Here's how much Rocker has made from brand deals in the past six months, which Insider verified with documentation:

☆ Investing in Space: Deloitte formalizes its space consulting business, with an eye on growth
▼ + stars: | 2023-04-06 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. The space industry keeps growing, and global consulting groups aren't ones to be left behind. This week saw Big 4 firm Deloitte formalize its space consulting services, even as other consulting giants like McKinsey, BCG and Bain compete for pieces of the space pie. Loubert breaks the space consulting opportunity into two areas: Space as a mission or business, and space as a growth opportunity. For more on consulting and space, I'll be sitting down on April 18 with McKinsey Senior Partner Ryan Brukardt at Space Symposium in Colorado.

☆ Deloitte's chief purpose officer says he's pushing execs to think differently about change in corporate America
▼ + stars: | 2023-04-06 | by ( Josée Rose | ) www.businessinsider.com time to read: +10 min

Kwasi Mitchell, Deloitte's chief purpose officer, says he's driven, not overwhelmed, by his job. As Deloitte's first chief purpose officer, his reach across corporate America is great. I had a conversation with my boss at that time, and he said, "We've heard you with respect to your concerns on not wanting to step into this role right now. Not only were we not worried about D&I efforts being cut, organizations didn't have significant D&I programming to cut to begin with. That person that you just hired two years ago should not be the first person to exit your organization.

☆ AI stocks tumble after short-seller attack on C3.ai
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

Shares of C3.ai were down 10% in early trading, while those of Thai security firm Guardforce AI (GFAI.O) fell more than 14%. Data analytics firm BigBear.ai (BBAI.N) lost 7% and conversation intelligence company SoundHound AI (SOUN.O) declined 4%. C3.ai was one of the trending stocks on investor-focused social media platform Stocktwits.com. Kerrisdale had disclosed its short position in C3.ai last month and accused the company of "poor customer traction, failing sales partnerships and financial pressures." "It is not necessarily a systemic risk and should not affect other AI stocks near-term.

☆ C3.ai tumbles 26% after letter from short seller
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

April 4 (Reuters) - C3.ai's (AI.N) stock tumbled 26% on Tuesday in its biggest one-day drop since the artificial intelligence company's 2020 IPO, with investors dumping the shares after short seller Kerrisdale Capital alleged "serious accounting and disclosure issues". C3.ai has "utilized highly aggressive accounting to inflate its income statement metrics in order to meet sell-side analyst estimates for revenue and certain profit metrics, and to conceal significant deterioration in its underlying operations", Kerrisdale said in a letter to Deloitte & Touche LLP, C3.ai's auditor. C3.ai did not immediately respond to a request for comment about the allegations. Reporting by Noel Randewich; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Micron Technology: China probes US chip maker for cybersecurity risks as tech tension escalates
▼ + stars: | 2023-04-03 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China has launched a cybersecurity probe into Micron Technology, one of America’s largest memory chip makers, in apparent retaliation after US allies in Asia and Europe announced new restrictions on the sale of key technology to Beijing. The Cyberspace Administration of China (CAC) will review products sold by Micron in the country, according to a statement by the watchdog late on Friday. Last month, the Netherlands also unveiled new restrictions on overseas sales of semiconductor technology, citing the need to protect national security. In October, the United States banned Chinese companies from buying advanced chips and chipmaking equipment without a license. “The Chinese government may restrict us from participating in the China market or may prevent us from competing effectively with Chinese companies,” it said last week.

☆ Vimeo CEO: Highly successful Gen Zers use these 3 tactics to improve their workplaces
▼ + stars: | 2023-04-02 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

The definition of Gen Z is sometimes contested, but is roughly considered anyone born between 1997 and 2012. It's one example of how Gen Z, after more than three years of a global pandemic, has a heavy hand in shaping the next new normal. Here's how the most successful Gen Zers are already doing it, according to Sud. A lot of Gen Zers are used to quickly internalizing large amounts of information in short periods of time, for example, especially with the boom of short-form content on platforms like TikTok. "[The way we] communicate and interact in our personal lives is going to translate to work," Sud said.

REUTERS/Umit BektasMarch 31 (Reuters) - An international arbitration ruling on March 23 prompted the shutdown of Iraq's northern crude oil exports through Turkey and sent oil prices back towards $80 a barrel. Iraq's federal government says its state-owned marketed SOMO is the only party authorised to manage crude exports through Ceyhan. Turkey was also asked to pay 50% of the discount at which KRG oil was sold, three sources said. According to a Turkish source, Iraq's initial demand was for about $33 billion. This comprised 370,000 bpd of KRG crude and 75,000 bpd of federal crude, a source familiar with pipeline operations said.

☆ Office Doom Loop: Landlords Face a Reckoning As Companies Move to Fancy Offices
▼ + stars: | 2023-03-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +14 min

The Gas Company Tower in downtown Los Angeles has a sterling pedigree, but even that can't save it from the doom loop facing many older office towers. A huge swath of America's office market is vulnerable to these twin threats of being under-equipped with amenities and underwater financially. This behavioral shift has deeply cut into demand for office space. The amount of sublease space nationally more than doubled from 118.5 million square feet at the end of 2019 to 242.8 million square feet at the end of 2022, Colliers stated. Lenders are often reluctant, he said, to seize office buildings because of the costs and expertise required to operate the properties.

☆ Americans love to buy more car than they need. It's making electric cars more expensive.
▼ + stars: | 2023-03-30 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

But Americans love SUVs and trucks, and they're going to have to pay for them in the near term. A lot of prospective EV buyers just haven't yet found the types of EVs they're looking for. They don't necessarily need more luxury electric sedans — they want the trucks and SUVs they're used to. A recent study found most car-buyers don't want to spend more than $50,000 to go EV, but they also want electric trucks and SUVs that inherently cost more. Bigger vehicles are often just more expensive, largely because they require bigger batteries — the most expensive part of these new EVs.

☆ Corporate giants say anti-LGBT law would hurt Uganda's economy
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

NAIROBI, March 29 (Reuters) - A coalition of international companies, including Google (GOOGL.O) and Microsoft (MSFT.O), on Wednesday denounced anti-LGBTQ legislation passed by Uganda's parliament last week, warning it would damage the East Africa country's economy. The Open for Business coalition said the legislation, which criminalises identifying as lesbian, gay, bisexual, transgender or queer, would curb investment flows and deter tourists. Open for Business said in a statement the new law would undermine companies' ability to recruit a diverse and talented workforce. "Either they violate the law in Uganda or they are going against international standards of corporate responsibility as well as human rights laws of the countries in which they are headquartered," she said. Among the coalition's members, Google, Mastercard (MA.N) Unilever (ULVR.L), Standard Chartered (STAN.L), PwC and Deloitte (DLTE.UL) have operations in Uganda.

☆ Car companies stand to make billions charging monthly fees for features like heated seats. Electric vehicles make that even easier for them.
▼ + stars: | 2023-03-29 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Electric cars are less profitable for automakers than gas-powered ones. There's a simple reason why: EVs aren't very profitable for automakers — and certainly nowhere near how profitable gas-powered cars. Subscriptions and additional offerings post-initial transactions are part of why automakers are especially interested in leasing their EVs. So major changes are in store as automakers navigate shifting consumer behaviors, industry headwinds, and especially, increasingly attractive competition. "This looming threat adds pressure on the traditional dealer model and threatens to impact the bottom line," the report says.

☆ Gen Z job seekers are rattling older managers by asking about work-life balance in the first interview
▼ + stars: | 2023-03-29 | by ( Alexandra York | Josée Rose | ) www.businessinsider.com time to read: +8 min

Many Gen Z job seekers are asking about work-life balance during interviews. There wasn't a big focus on work-life balance when many of today's managers started working more than a decade ago. Gen Zers need to know the industry before asking about work-life balanceSome industries invite questions of work-life balance, according to Gen Zers and hiring managers who spoke with Insider. "If you were to directly ask, 'Can you describe the work-life balance for analysts at your firm?' Mary Cooney, the founder of the professional-development platform Generation IQ, said it's time to move on from this stigma of work-life balance.

CNBC: You were the first Hispanic woman to serve on one of the top five Fortune 100 corporate boards, but as of 2022, corporate boards continue to remain majority white and male. What do you see as the biggest obstacle to diversifying corporate boards? Ford director Kimberly Casiano was the first Hispanic woman to serve on a Fortune 100 top five corporate board. I also believe entrepreneurs, who have much more limited resources and leverage than major corporations, are better at compromise and subtle persuasion. Casiano: It is important to remember that gender diversity on corporate boards came years before ethnic diversity started to show its head.

☆ A millennial who quit her 6-figure job says the temporary financial strain was worth it after she was able to start her dream business
▼ + stars: | 2023-03-26 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

She now works part-time as a marketing professor at two colleges and is launching her "dream" social media business. Llewellyn is based in Canada, but her story is reflective of a broader desire for part-time work. While a part-time job might not be easy to find, many workers who have landed one have found themselves better off. Advice for people considering part-time workDespite her burnout, Llewellyn says that her goal was never to work part-time forever. For others considering making the shift from full-time to part-time, Llewellyn has a few pieces of advice.

☆ ‍Soccer-Qatar's Al Thani submits new $6 bln bid for Manchester United - Sky News
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +1 min

March 25 (Reuters) - Sheikh Jassim bin Hamad Al Thani has submitted a new bid to buy Manchester United which is believed to be worth around 5 billion pounds ($6.12 billion), Sky News reported on Saturday. Sheikh Jassim, a son of Qatar’s former prime minister, launched the bid in February. A spokesperson representing Sheikh Jassim said at the time that the bid was completely debt free, via Sheikh Jassim's Nine Two Foundation. Finnish entrepreneur Thomas Zilliacus also placed a bid on Thursday and told Reuters that he was willing to pay a premium for the English soccer club. United are the fourth richest soccer club in the world, according to analysis by Deloitte .

☆ Soccer-Qatar's Al Thani submits new $6 billion bid for Manchester United, Sky Sports News reports
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

March 25 (Reuters) - Sheikh Jassim bin Hamad Al Thani has submitted a new bid to buy Manchester United which is believed to be worth around 5 billion pounds ($6.12 billion), Sky Sports News reported on Saturday. Sheikh Jassim, a son of Qatar’s former prime minister, launched the bid in February. A spokesperson representing Sheikh Jassim said at the time that the bid was completely debt free, via Sheikh Jassim's Nine Two Foundation. Finnish entrepreneur Thomas Zilliacus also placed a bid on Thursday and told Reuters that he was willing to pay a premium for the English soccer club. United are the fourth richest soccer club in the world, according to analysis by Deloitte .

☆ Pharma delivers, for others
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

The progressive lung disease, which commonly crops up in heavy smokers, is the third biggest cause of death globally. A 30% reduction in exacerbations and significant lung function improvement means the drug should spin more profit. Deloitte estimates projected returns on drug development for the biggest pharma firms were 1.2% last year. Writ large, the world might be getting too good of a bargain. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Analysis: Credit Suisse collapse threatens Switzerland's wealth management crown
▼ + stars: | 2023-03-22 | by ( John Revill | ) www.reuters.com time to read: +6 min

[1/3] Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland March 20, 2023. Switzerland's credibility as a stable, predictable country had been upended by moves like the decision to wipe out the holdings of Credit Suisse bondholders, he said. Under the takeover deal, holders of Credit Suisse AT1 bonds will get nothing, while shareholders, who usually rank below bondholders in compensation terms, will receive $3.23 billion. "In that sense I also see a prosperous future for the financial centre because we have hundreds of very well capitalised banks and very successful wealth management and asset management banks." Reuters Graphics Reuters GraphicsReuters GraphicsOthers were more skeptical about the future, highlighting a reluctance to confront mistakes at Credit Suisse or take responsibility for the aftermath.

☆ Multi-strat hedge funds like Citadel and Millennium are the new big banks
▼ + stars: | 2023-03-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

There's an old saying on Wall Street: You can only leave Goldman Sachs once. Insider's Alex Morrell has a fascinating look at how Goldman Sachs' top executives have headed to some of the top hedge funds in the world in recent years. Poaching talent is a longstanding tradition on Wall Street, and the path from the investment banks to the buy side is a well-worn one. It's an indication of the shifting tides on Wall Street between the firms that traditionally held all the power (big banks) and the ones usurping them (multi-strat hedge funds). Click here to read more about how Goldman Sachs alumni are getting poached by the world's biggest hedge funds.

☆ EY's 'paused' split dragged into $2.7 bln London lawsuit
▼ + stars: | 2023-03-20 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, March 20 (Reuters) - EY’s plans to split its auditing and consulting arms have been dragged into a $2.7 billion lawsuit brought in London by the administrators of troubled hospital operator NMC Health PLC over concerns EY would be unable to pay if it loses the case. "NMC will be aware from press coverage … that the potential separation under consideration is paused," the document said. However, EY – which denies any breach of duty to NMC – says it has already agreed to provide relevant information about the potential split to NMC. EY’s lawyer Thomas Plewman also said in court filings that, as the proposed separation has been paused, the application is "premature and unnecessary". Court filings for Monday’s hearing indicate that a trial of NMC’s lawsuit will not begin before October, 2024.

☆ How an often overlooked World War II-era shipbuilder designed the boat that Eisenhower said 'won the war for us'
▼ + stars: | 2023-03-19 | by ( Katie Sanders | Mara Storey | ) www.businessinsider.com time to read: +8 min

The Higgins boat is one of the iconic vessels of World War II. Andrew Higgins, center, developed several kinds of landing craft that were invaluable during World War II. His landing craft were used in every major amphibious assault of World War II, from the shores of Europe to the Pacific islands. National World War II MuseumBorn in Nebraska in 1886, Higgins ran newspaper routes and started a lawn-mowing company as a child. In one instance, Navy officials expressed interest in seeing a design for a new 56-foot tank landing craft three days before a scheduled visit to see another type of landing craft.

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