DIRS.INFO The most relevant business & tech news

☆ From Amazon to Wendy's, how 4 companies plan to incorporate AI—and how you may interact with it
▼ + stars: | 2023-05-19 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Artificial intelligence is no longer limited to the realm of science-fiction novels — it's increasingly becoming a part of our everyday lives. AI chatbots, such as OpenAI's ChatGPT, are already being used in a variety of ways, from writing emails to booking trips. In fact, ChatGPT amassed over 100 million users within just months of launching. AI's boom in popularity has many companies racing to integrate the technology into their own products. Here are four companies that are already utilizing AI's capabilities and how it may impact you.

☆ Over half of Gen Z and millennials say they're struggling with the question of how to start a family while living paycheck to paycheck
▼ + stars: | 2023-05-17 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

A new Deloitte survey finds that over half of Gen Z and millennials live paycheck to paycheck. That also means Gen Z and millennials feel like starting a family or owning a home are out of reach. Indeed, cost of living remains the biggest concern for Gen Z and millennials, with over a third of Gen Z ranking it as a top concern, and 42% of millennials staying the same. Half of Gen Z and 47% of millennials said that they expect starting a family "to become harder or impossible." Are you a Gen Zer or millennial living paycheck to paycheck, and rethinking what your future will look like?

☆ Almost half of Gen Zs have side jobs as money fears take over, survey finds
▼ + stars: | 2023-05-17 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Gen Zs and millennials are increasingly taking on second jobs as money concerns mount, a Deloitte survey says. Some 46% of Gen Zs currently have either a full- or part-time job in addition to their main one, a new Deloitte survey shows. For their 2023 Gen Z and Millennial Survey, Deloitte gathered responses from 14,483 Gen Zs and 8,373 millennials from 44 countries around the world. Data from Deloitte's survey shows that the cost of living is the biggest concern for millennials and Gen Z right now. "Economic concerns are hampering Gen Zs' and millennials' ability to plan for their future, and causing them to postpone major life decisions," she adds.

"Our commitment to Juventus is unchanged and no meetings have taken place," a spokesperson for Exor said when asked to comment by Reuters on Friday. Juventus also faces potential new penalties, including further points deductions, in a separate case over alleged irregularities in payments to players. The Agnelli family has owned the club, which it listed in 2001, almost uninterrupted since 1923. New potential co-investors could include Middle Eastern or Asian sovereign wealth funds, or U.S. funds or family offices, two sources said. Juventus ranked 11th in Deloitte's European Money League published in January, based on its annual revenue of 400 million euros in 2021/22.

☆ Generation Hustle: Gen Z Is Reshaping Work With More Jobs, Side Hustles
▼ + stars: | 2023-05-09 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

In the midst of an uncertain economy and precarious job market, Gen Z is turning up the hustle. According to a 2022 survey commissioned by Microsoft, 48% of Gen Z respondents were juggling multiple side hustles at once. Broken promisesWhile young people often work multiple jobs through college and early in their career, Gen Zers are extending the work hustle into their formal careers. But after watching that dream die for millennials, Gen Z isn't buying into what they view as a broken social contract. "So Gen Z has seen there's other ways to make money, even as a kid, through platforms like YouTube."

☆ Do digital transformations drive or destroy market value?
▼ + stars: | 2023-05-05 | by ( Sponsor Post | Created Deloitte With Insider Studios | ) www.businessinsider.com time to read: +7 min

Tim Smith, Deloitte Consulting's US leader for technology strategy & business transformationWhat digital actions drive the most market value? Digital Strategy adds value: Businesses that are making digital bets in line with enterprise strategy see market value gains, according to Deloitte's Unleashing Digital Transformation value analysis of over 4,500 publicly listed companies. Compared with digital strategy value gains, this action drove double the market value, according to our analysis. "While challenges may be ample across digital initiatives, our research revealed two risks to market value — both relate to digital change capability in unexpected ways." Digital strategy and strategy-aligned tech investments together — without a digital change capability — destroy the most value: Our analysis made it clear that digital change capability is a wild card.

☆ As part of the ‘cocktail culture,' consumers are still splurging on dinner and drinks
▼ + stars: | 2023-04-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"Sticker shock" has taken a toll, the report found, with consumers more likely to walk away from a purchase because the price is too high. Further, when it comes to discretionary spending, adults are more likely to treat themselves to dinner out or premium spirits rather than cosmetics. Consumers in the U.S. are four times more likely to have said their latest splurge purchase was food and beverages over personal care, Deloitte found. "Despite the tough economy, consumers continued to enjoy premium spirits and fine cocktails," Chris Swonger, president and CEO of the Distilled Spirits Council of the United States, said in a statement. "Cocktail culture continues to thrive in the United States," Swonger said.

☆ New reports say business travel isn’t going back to normal — ever
▼ + stars: | 2023-04-24 | by ( Monica Pitrelli | Rob Goss | ) www.cnbc.com time to read: +5 min

The days of high-flying, big-spending business travel may be over for good. As a new report by research company Morning Consult declared: Business travel will never return to normal. Tighter corporate budgets and new ways of virtual working have permanently changed business travel, according to the report, titled "Business, but Not as Usual." A different business travel model is slowly but surely becoming entrenched, crystallizing a "new normal" for the industry, according to the report. Bright spots for business travelBut there are several bright spots for those cheering the robust return of business travel, according to the reports.

☆ Groceries, gas, or Netflix? Gen Zers are dropping their streaming subscriptions as inflation hits.
▼ + stars: | 2023-04-24 | by ( Reed Alexander | ) www.businessinsider.com time to read: +9 min

Nearly two-thirds of millennial and Gen Z consumers have canceled a streaming subscription in the prior six months, a Deloitte survey found. Insider spoke with five millennial and Gen Z consumers who blamed soaring inflation for driving them to cut subscriptions in favor of essentials like gas or groceries. On average, consumers spend $48 per month on streamers, Deloitte said. From Deloitte's 2023 Digital Media Trends survey: 32% of millennials and 30% of Gen Zers said they canceled a streaming subscription within the past six months in order to save money. Gen Z-ers, born between 1997 and 2009, were the runners-up with a 57% churn rate over the same period.

☆ Artificial intelligence is a $38 billion revenue opportunity for retailers. Here's how to play the trend
▼ + stars: | 2023-04-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +15 min

Morgan Stanley estimates that in 2022, only 23% of the $4.3 trillion of U.S adjusted retail spending was online. Add in AI, which can drive better shopper experiences or better conversion, it could bump to 9% or possibly 10% CAGR, he said. Eventually, AI can help retailers pitch tailored products to each potential customer based on their prior history. You might see it in the member services experience in having a better opportunity to get customer support," he said. As retailers move ahead in their plans to integrate AI into their business, some will build the capabilities.

☆ Deloitte to cut 1,200 jobs in the US - FT
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

April 21 (Reuters) - Deloitte will cut around 1,200 jobs or 1.5% of its U.S. workforce, the Financial Times reported on Friday, citing internal employee communications. As growth in select practices moderates, we are taking modest personnel actions where necessary," Deloitte said in an emailed statement to Reuters. Several financial firms have slashed jobs in recent months including major Wall Street banks, asset managers and fintechs amid a turbulent macroeconomic environment that has pressured consumers and soured demand in several mainstay business units. Deloitte is part of the Big Four accounting firms that include EY, KPMG and PricewaterhouseCoopers. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Streamers have a Gen Z problem: New data reveals why younger subscribers are more likely to cancel as inflation forces them to choose between Netflix and necessities
▼ + stars: | 2023-04-17 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

Nearly two-thirds of millennial and Gen Z consumers have canceled a streaming subscription in the past six months, a Deloitte survey found. Canceling the subscriptions meant sacrificing entertainment that provided "comfort" and staved off monotony during the coronavirus pandemic, McMiller said. Insider spoke with five millennial and Gen Z consumers who blamed soaring inflation for driving them to cut subscriptions in favor of essentials like gas or groceries. Overall, 44% of total respondents canceled a paid entertainment subscription within the past six months, including for reasons unrelated to cost savings. Millennials, born between 1983 and 1996, spend an average of $54 per month on streaming subscriptions — the most of any demographic, Deloitte said.

☆ 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.

☆ 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.

☆ China fines Deloitte $31 mln for auditing negligence
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 17 (Reuters) - China has fined auditing firm Deloitte 211.9 million yuan ($30.8 million) for failing to perform its duty in assessing the asset quality of China Huarong Asset Management Co Ltd (2799.HK), the finance ministry said on its website on Friday. Deloitte's Beijing operations also will be suspended for three months, the ministry said in a statement. Deloitte said it respects and accepts the ministry's decision, according to a statement published on its website. "We regret that, in this matter, the MOF considers certain aspects of our work fell below the required auditing standards," it said. In a separate statement, Huarong said the company and its seven subsidiaries had received a 100,000 yuan fine each.

☆ America's immigration system is a nightmare, and it's forcing tech companies to move jobs outside of the country
▼ + stars: | 2023-03-14 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +7 min

Leaders like Salesforce CEO Marc Benioff have begun walking back their initial praise of remote work, worrying that it leads to employee underperformance. The most existential question raised by remote work, however, is whether working from home makes workers more replaceable. But remote work has just been a facilitator, they suggest, and the real culprit may very well be America's broken immigration system. The flawed US immigration system is forcing companies to hire elsewhereIt's no secret that the US immigration system is flawed. Remote work makes it possibleRemote work makes it all possible, says Job Van Der Voort, founder of Remote, a startup that helps companies hire workers internationally.

☆ Americans still aren't sold on electric cars
▼ + stars: | 2023-02-27 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

But EV adoption is still a challenge; less than one-third of US car buyers said they want to go EV. Car buyers are weighing a lot of factors like EV resale value and recycling plans. Car buyers are also weighing resale value, a pretty standard factor to consider, especially before going electric. In the US, 61% of buyers are either very or somewhat concerned about an EV's resale value, compared to 55% that are very or somewhat concerned about a gas-powered vehicle's resale value. The concern over EV resale is "likely due to rapidly evolving EV and battery technologies," according to Deloitte's report.

☆ Car companies want to make billions by charging monthly fees for features like heated seats — and electric cars makes it easier than ever
▼ + stars: | 2023-02-25 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

"His deep understanding of our customers' needs, and the broader industry make him an ideal candidate for Chairman of the Supervisory Board from 2024 onwards," Plattner added. Plattner, who co-founded SAP in 1972 alongside four other former IBM employees, stepped down from active management in May 2003 to head the supervisory board after serving as SAP's CEO since 1997. He owns a 6.16% stake in SAP which is currently worth 8.23 billion euros ($8.73 billion), and said he would remain committed to the company as an "investor with an unchanged stake". SAP, in a separate statement, said it would propose a dividend of 2.05 euros per share for 2022. The company paid 2.45 euros a share for the previous year, which included a 0.50 euros apiece special dividend.

☆ A mom of 2 explains how she knew it was time to leave her job of 17 years due to burnout and chronic stress
▼ + stars: | 2023-02-16 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

That, on top of a high-pressure job, caused her mental health symptoms to progress into physical pain, she told Insider. What I didn't understand at the time was that it was also affecting not just my mental health, but it was affecting my physical health." She said that she watched the people around her take their own leaves of absence for physical or mental health reasons. She's still seeking medical help from her physical health symptoms, but says they've improved a lot over the past year. A lot of times we talk about chronic stress and we think about mental health, but it's bigger than that.

☆ Italian banks to cut 27% of branches over next 7 years, Deloitte says
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

MILAN, Feb 15 (Reuters) - The number of bank branches in Italy is set to shrink to around 16,000 in 2029 from 22,000 last year, consultancy Deloitte said on Wednesday, as customers increasingly embrace digital banking. In a report on banks' digital progress, Deloitte forecast online banking would reach a penetration of 60% in Italy over the next seven years, from 45% in 2022. The company ranks lenders on a scale ranging from 'digital latecomers' to 'digital champions', based on its Digital Banking Maturity (DBM) score. Overall, Italian banks' DBM improved from the previous ranking in 2018 with two lenders, whose identity was not disclosed, classed as digital champions. Deloitte said this was thanks to a wide range of digital services which clients deem relevant and a better than peers' digital experience for users.

☆ Household budgets are shredded: These stocks will benefit as consumers trade down to store brands
▼ + stars: | 2023-02-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +12 min

Shoppers are largely creatures of habit, but after two years of rising prices, a broader shift to private label brands is underway. 'A tailwind' for private label That is good news for store brands, otherwise known as private label. Yet the biggest pure play on private label brands is Treehouse Foods , Chappell said. "That's where you're going to see them lean into store brands," said Mary Ellen Lynch, principal of IRI's center store solutions. Americans forced to trade down due to supply chain constraints found store brands they enjoyed, she said.

☆ Rule-bending Chelsea take transfer gamble to give Potter ultimate selection headache
▼ + stars: | 2023-02-01 | by ( Peter Hall | ) www.reuters.com time to read: +4 min

Premier League soccer clubs spent a record 815 million pounds ($1.00 billion) in the January transfer window, an analysis from Deloitte's Sports Business Group said on Wednesday. It has, however, angered those who claim the Premier League is becoming a de facto European Super League due to its spending power. "What I'm worried about is the Premier League, and I've been worried for many years now," Spain's La Liga president Javier Tebas told a new conference this month. There is no sustainability in the Premier League. The Premier League is not a financially sustainable model."

☆ Premier League clubs spend $1 bln for first time in January transfer window
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

Feb 1 (Reuters) - Premier League soccer clubs spent a record 815 million pounds ($1.00 billion) in the January transfer window, an analysis from Deloitte's Sports Business Group said on Wednesday. The London club, lying 10th in the league, paid a British record 106.8 million pounds for Argentina midfielder Enzo Fernandez from Benfica on Tuesday's transfer deadline day. Over the whole of the 2022-23 season they have spent 2.8 billion pounds on player transfers, beating the previous record of 1.9 billion pounds set in 2017-18. Relegation-threatened Bournemouth were the second largest spenders within the Premier League. "Premier League clubs have outspent those within the rest of Europe's 'big five' leagues by almost four to one in this transfer window...," said Tim Bridge, lead partner in Deloitte's Sports Business Group.

The club is one of the world's biggest sporting brands and generated 689 million euros ($750.94 million) in revenue in 2021-22. "Chelsea getting sold in 2022 means a rate has been established on the value of a Premier League club," Joyce said. The Glazers bought United for 790 million pounds in 2005 in a highly-leveraged deal which has been criticised for loading debt onto the club. OLD TRAFFORD INVESTMENTThe Chelsea deal involved the new owners paying 2.5 billion pounds ($3.10 billion) to purchase shares while committing a further 1.75 billion pounds to invest in the club, particularly the stadium. Media reports suggest it would cost one to two billion pounds to renovate.

Search resuls for: "Deloitte's"

25 mentions found