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☆ McKinsey, Bain Delay Some M.B.A. Start Dates to 2024
▼ + stars: | 2023-04-18 | by ( Lindsay Ellis | ) www.wsj.com time to read: 1 min

McKinsey & Co. told students that they will learn their start dates with at least two months’ notice. Consulting giants McKinsey & Co. and Bain & Co. are delaying start dates for new M.B.A. hires, or in some cases paying them thousands of dollars to put off starting their jobs. Consulting firms are among the biggest recruiters of business-school talent. Delaying the start dates for so many fresh grads is causing anxiety on campuses and suggests these businesses may have wider concerns about the economy.

☆ Copper Shortage Threatens Green Transition
▼ + stars: | 2023-04-18 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

In 2021, refined copper demand stood at 25.3 million tons, according to the International Copper Study Group. Mined output globally in 2022 was 21.8 million tons according to the International Copper Study Group, rising only 1 million tons over the previous three years. According to Congo’s Ministry of Mines, copper metal exports totaled 2.3 million metric tons in 2022, up from 1.8 million metric tons in 2021, less than half of Chile’s output. According to analysts it is more of a “when” not an “if” copper demand is likely to surge. Changes in technology should ease some copper demand pressures.

☆ Blue-chip consulting firm Bain is reportedly offering new hires $20,000 to become yoga instructors or go on safari for a year
▼ + stars: | 2023-04-18 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +2 min

Bain is offering new MBA hires tens of thousands of dollars to delay their starts, per The Wall Street Journal. Bain & Company is offering new MBA hires tens of thousands of dollars to delay their starts at the firm, according to a report by The Wall Street Journal. Other communications show the firm offering new hires $30,000 to learn a new language and $20,000 to become yoga instructors or go on a safari in Africa, per the Journal. McKinsey, meanwhile, did not notify most of their MBA hires of start dates until this week, and some won't start work until next year, per the Journal. Firms like Bain and McKinsey often offer new MBA hires some of the highest salaries in an industry that is already one of the highest paying for business school graduates.

☆ I rented clothes instead of buying new, and saved $53 a month—here's the No. 1 reason I'll keep doing it
▼ + stars: | 2023-04-17 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

I started renting used clothes in January, saving me an average of $53 per month so far. Balancing my vanity with an awareness that I needed to budget more effectively, I started renting clothes from Nuuly — a sister company to Urban Outfitters — in January. It hasn't curbed my shopping habits as much as I predicted, but it has saved me money: I spend $53 less per month, on average. But I didn't start renting clothes for my self-esteem. Why I'll keep renting clothes — but not forever

☆ One chart shows how many more hours married women spend on housework than their husbands in 5 different types of opposite-sex marriages
▼ + stars: | 2023-04-16 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

Pew Research Center compared the hours opposite-sex married couples spend on housework and caregiving. The chart below shows the average time spent per week on housework and caregiving duties for five different kinds of income arrangements for opposite-sex marriages. Wives in these wife-primary-earner marriages spend about 11 hours a week on housework and caregiving compared to their husbands' almost 8 hours a week. 57% of US adults said American society values the "contributions men make at work." Men and women pretty much said the same thing — 55% of men and 58% of women answered this way.

☆ These are the tech jobs most threatened by ChatGPT and A.I.
▼ + stars: | 2023-04-15 | by ( Mikaela Cohen | ) www.cnbc.com time to read: +7 min

A recent Goldman Sachs report found 300 million jobs around the world stand to be impacted by AI and automation. Just like similar trends in history, creative jobs will be in demand after the widespread inclusion of generative AI and other AI tech in the workplace. But even though these jobs will still exist, their tasks and responsibilities could likely be diminished by GPT and generative AI. But other forms of generative AI can go further, reconstructing different outcomes based on patterns and learnings, and almost mirroring a human brain, he said. In this broader set of tasks, generative AI can mimic what an engineer would do through the development cycle.

☆ A Chinese company is reportedly planning to replace some human copywriters and graphic designers with AI
▼ + stars: | 2023-04-14 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

A marketing company in China reportedly has plans to replace some of its human contractors with AI. A memo seen by Bloomberg says BlueFocus plans to replace external copywriters and graphic designers. Experts previously told Insider some jobs in media can be at risk of being replaced by AI models. A marketing and brand management company in China has plans to replace some of its copywriters and graphic designers with generative AI models like ChatGPT, according to an internal memo seen by Bloomberg. Generative AI can potentially affect 300 million-full time jobs around the world, research from Goldman Sachs found.

☆ A small, specialty water brand created a customer loyalty program to thank consumers, and it led to a 90% repurchase rate
▼ + stars: | 2023-04-14 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

Customer loyalty programs incentivize customers to engage with and support their favorite brands. They found that making personal connections through loyalty programs garnered more repeat customers and better feedback. We learn all kinds of things from our customer loyalty program." We've found from our loyalty program that when it comes to attracting and retaining good customers, the only thing that may be second to a strong loyalty program is excellent service." Loyalty program members also tend to spend more with companies and refer them to friends and family, according to a Forrester report.

☆ This startup helps early-stage forestry projects get funded. Check out the 14-slide pitch deck carbon credit marketplace Xilva used to raise $2 million.
▼ + stars: | 2023-04-12 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Zurich-based Xilva helps early-stage forestry projects access the capital they need to scale up. The startup has developed its own propriety vetting process to help build trust in the carbon market. A startup helping forestry projects access capital has just raised 1.8 million euros in fresh funds. The voluntary carbon market, where carbon credits are bought and sold, has been plagued by quality issues. Check out the 14-slide pitch deck Xilva used to raise the funds below:

☆ 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.

☆ What Are People Even Doing All Day?
▼ + stars: | 2023-04-12 | by ( Malia Wollan | ) www.nytimes.com time to read: +12 min

For Laroi, there is no clearly defined day or night. Sometimes he drives all night and sleeps all day; sometimes he sleeps all day and drives all night. One day a week, Sophie works late so she can meet with far-flung colleagues in real time. Now she has enough energy left at the end of the day to go grocery shopping and cook dinner. The time markers reflect the time of day when participants told an interviewer they would normally be doing the activity shown.

☆ JPMorgan, H&M join Google, Meta to buy, collectively, more than $1 billion of carbon removal
▼ + stars: | 2023-04-12 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

"We see Frontier's advanced market commitment as an important demand signal boost for the carbon removal market. Carbon dioxide emissions from energy production topped 36 billion tons last year, according to the International Energy Agency, with total global carbon dioxide emissions projected to have been 40.6 billion tons in 2022, according to the Global Carbon Project. So far, Frontier has spent $5.6 million buying nearly 9,000 tons of contracted carbon removal from 15 carbon dioxide removal startups that are collectively pursuing seven methods. And Living Carbon is a synthetic biology startup working on engineering natural systems to remove carbon dioxide. "However, the science is increasingly clear: Carbon removal is an increasingly necessary tool for limiting warming.

☆ Rich countries and India should cut a climate pact
▼ + stars: | 2023-04-10 | by ( Hugo Dixon | ) www.reuters.com time to read: +6 min

Emissions from the world’s most populous country are only 7% of greenhouse gases but are growing fast while those produced by rich countries have largely peaked. To do so, it will need policies that incentivise green investment, including accelerating its plans for carbon pricing. Rich countries can also help, even at a time when their budgets are stretched. India could then be much more ambitious in its transition plan and the G7 and other rich countries could mobilise funds, focussing on key bottlenecks. But if the central government comes up with a solution, rich countries could help fund it.

☆ Amazon, Meta, and other tech giants are cutting middle management to be more efficient. It's a risky move that could backfire.
▼ + stars: | 2023-04-08 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +6 min

Big Tech's latest cost cutting move is "flattening," or removing middle management from the org chart. This is likely to work in the short term, but removing middle management has long-term consequences. The move comes as the Big Tech companies reel from the consequences of overhiring, as the pandemic turned into an unexpected boon to their businesses. While that all sounds good, experts warn removing middle management roles have other consequences that Big Tech will have to deal with. Middle managers set the tone and cultureAdditionally, middle managers have more influence on shaping a company's culture and can affect whether or not employees feel engaged in their jobs, as Insider's Aki Ito reported.

☆ 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.

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☆ McKinsey Winding Down Firm’s Bankruptcy Practice
▼ + stars: | 2023-04-04 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

Consulting firm McKinsey & Co. is winding down its bankruptcy practice after numerous lawsuits and government investigations concerning the division’s work advising troubled borrowers, people familiar with the matter said. Some McKinsey partners who had previously focused on bankruptcy advisory work in the firm’s recovery and transformation services, or RTS, division have either been leaving the firm or pivoting to other kinds of work, the people said.

☆ McKinsey Is Shutting Down Its Restructuring Business
▼ + stars: | 2023-04-04 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

Consulting firm McKinsey & Co. is shutting down its corporate-restructuring practice after numerous lawsuits and government investigations concerning the division’s work advising troubled borrowers, people familiar with the matter said. McKinsey has announced internally that its restructuring division would close, the people said. The consulting firm laid off some partners in its restructuring unit, called McKinsey RTS, while others are being absorbed into other practices, they said.

☆ ChatGPT is strengthening the case for a 4-day workweek
▼ + stars: | 2023-04-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Such a productivity boost could make a four-day workweek more possible. Calls for implementing a four-day workweek have picked up steam over the past year as pilot programs have described promising results. "Any technology that increases productivity, ChatGPT included, makes a shorter workweek more feasible," Carl Benedikt Frey, an Oxford economist, told Insider. 'The workweek length is up for grabs'Rep. Mark Takano, a Democrat from California, is among those advocating a four-day workweek. "Yes, ChatGPT might make a four-day workweek more feasible in principle," Frey said.

Nestle (NESN.S) and Hershey (HSY.N) said they paid the LID premium. But when the COVID pandemic cratered demand, global cocoa prices plunged before they built up a cushion. Ivory Coast and Ghana say companies should pay both premiums. Industry data from the International Cocoa Organisation (ICCO) shows cocoa output in Ivory Coast rose to record levels in the 2020/21 season. Of the roughly 2 million tonnes of cocoa Ivory Coast produces each year, between 20-30% is grown illegally in protected forests by an estimated 1.3 million people, many of them children.

☆ McKinsey shutting down restructuring business - WSJ
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

April 4 (Reuters) - Consulting firm McKinsey & Co is shutting down its corporate restructuring practice, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Some partners in the restructuring unit, called McKinsey RTS, were laid off and others are being absorbed into other practices, the report added. The closure was announced internally and follows numerous lawsuits and government investigations concerning McKinsey's work advising troubled borrowers, according to the report. Alix had accused the firm of concealing potential conflicts when seeking permission from bankruptcy courts to perform lucrative work on corporate restructurings. In November 2021, an affiliate of the consulting firm had also agreed to pay $18 million to the U.S. Securities and Exchange Commission for compliance failures in handling non-public information.

☆ Big real estate landlords are finally starting to decarbonize, creating an $18 trillion market that this Blackstone portfolio company plans to profit from at every turn
▼ + stars: | 2023-04-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

The Blackstone portfolio company Legence wants to be a one-stop shop for landlords. A Real Estate Board of New York study found that the total penalties could top $213 million. Its ICS became the strategic planner, its CMTA, which designed the first net-zero school in the United States, designed the upgrades, and its Gilbert Mechanical installed the new heating, cooling, ventilation, and lighting hardware. How to do itIt may still be a challenge to coordinate decarbonization processes, which don't come naturally to large-scale real-estate operators, Boland said. Legence plans to grow the business's geographic scope and increase its depth in current markets, including Colorado and California, Sprau said.

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☆ Gen Z, Millennials Are Now As Sick and Tired of Their Jobs As Boomers
▼ + stars: | 2023-04-03 | by ( Aki Ito | ) www.businessinsider.com time to read: +14 min

Young workers may not possess the experience or wisdom of their older colleagues. When Gartner asked people what was preventing them from going into the office, Gen Zers were more likely than other generations to cite social anxiety. Pollak, the consultant, told me about a client who complained that their Gen Z employees were "abusing" the company's vacation policy. But these are the very people who can help young workers feel more seen and motivated in their jobs. My suggestions are targeted to shore up engagement among young workers, but they'd actually be good for everyone.

☆ 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.

☆ Bill Gates took a 'test ride' in an autonomous vehicle, and says they'll save you money—take a look
▼ + stars: | 2023-03-31 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Bill Gates says totally driverless cars, without need for even a steering wheel, are "coming sooner rather than later." He also posted a video of his experience:The car's technology was built by British startup Wayve, which partners with Microsoft on its artificial intelligence-based autonomous driving software. Wayve sits among a bevy of tech and auto industry competitors: The likes of Ford, GM, Tesla, Alphabet and China's Baidu have invested billions of dollars toward developing their own driverless vehicle technology. U.S. consumers will likely only gain access to fully self-driving vehicles following a complete overhaul of the nation's driving infrastructure and laws, he added. Last year, U.S. regulators cleared the way for autonomous cars built without steering wheels or even pedals — a first step.

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