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☆ Billionaire investor Bill Ackman says feds 'screwed up' handling of Silicon Valley Bank collapse, warns they have '48 hours to fix a soon-to-be-irreversible mistake'
▼ + stars: | 2023-03-11 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

Billionaire investor Bill Ackman posted a lengthy tweet about the Silicon Valley Bank collapse Saturday. Ackman criticized the response of the federal government and its lack of monitoring SVB for risk. He said the government has "about 48 hours to fix a-soon-to-be-irreversible mistake" with its handling of SVB. "The gov't has about 48 hours to fix a-soon-to-be-irreversible mistake," Ackman tweeted in a lengthy post Saturday morning. In Ackman's view, this could lead to the collapse of several other smaller banks around the country.

☆ Women's stories stand out in Oscars race, but Hollywood lagging in gender parity
▼ + stars: | 2023-03-07 | by ( Lisa Richwine | ) www.reuters.com time to read: +5 min

"It's such an extraordinary year for women," "Tar" actress Blanchett said at last month's British Film Academy Awards (BAFTAs). "Every year, there's idiosyncratic, remarkable performances that just break down the myth that women's experience is monolithic." Still, Hollywood remains far from a place of gender parity. "Women are making progress in certain areas on screen," said UCLA sociologist Darnell Hunt, co-author of an annual Hollywood diversity report. "There's a great tradition of strong female characters and strong female leads in movie history, mainly in the 1950s," Field said.

☆ Women leaders sidelined at multilateral organizations, new study shows
▼ + stars: | 2023-03-06 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

The study, to be released during this week's meeting of the United Nations Commission on the Status of Women, called for proportional representation of women at every level of multilateral organizations, from field offices to headquarters, as well as in secretariats and governing bodies. "But I also believe that women bring this combination of leadership, wisdom and empathy, and sometimes, an even greater understanding of what is happening in the world." Since 1945, the 33 institutions studied have had 382 leaders, but only 47 were women, the report showed. And despite recent progress, only one-third of the institutions are currently headed by women. GWL Voices said it would release a more extensive version of the report in September that would also look at the senior management teams and governing bodies of the 33 institutions.

☆ Here are Wednesday's biggest analyst calls: Apple, Procter & Gamble, Tesla, Spotify, AbbVie & more
▼ + stars: | 2023-03-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Morgan Stanley upgrades Sarepta to overweight from equal weight Morgan Stanley said it's bullish on the company's gene therapy drug, SRP-9001. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's standing by its overweight rating on the EV maker after its earnings report on Tuesday, but says it's now a show-me story. Morgan Stanley reiterates Eli Lilly as top pick Morgan Stanley said the stock is best-in-class and that it's bullish on its diabetes drug, Mounjaro. Morgan Stanley names JD.com a catalyst driven idea Morgan Stanley said it's bullish heading into the China e-commerce company's earnings on March 9. Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said it's standing by shares of Microsoft.

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REUTERS/Wolfgang RattaySummarySummary Companies Volkswagen China chief toured Xinjiang plant on Feb 16-17Carmaker contractually bound to plant until 2030Company notes 'more repressive approach' in region since 2015No indication of forced labour on visit - China chiefPlant no longer assembling cars, 65% staff cutBERLIN, Feb 28 (Reuters) - Volkswagen (VOWG_p.DE) is contractually committed to its plant in Xinjiang until 2030, it said on Tuesday, after its China chief made the first visit by senior management to the plant in mid-February and said he saw no signs of forced labour. Ralf Brandstaetter, who has headed the carmaker's China operations since the middle of last year, spent 1-1/2 days on Feb. 16-17 touring the facility with Volkswagen's compliance and external relations chief in China. I can try and verify the facts [from joint venture partner SAIC], and that's what I did. China has strenuously denied any abuses in Xinjiang. Around 190 workers had also undertaken retraining and qualification programmes at other SAIC plants across China.

☆ Goldman Sachs executives to rally investors in New York
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +6 min

[1/2] A Goldman Sachs sign is seen above their booth on the floor of the New York Stock Exchange, January 19, 2011. REUTERS/Brendan McDermid/File PhotoNEW YORK, Feb 28 (Reuters) - Goldman Sachs Group Inc's (GS.N) Chief Executive David Solomon and top executives will give investors an update on their strategy on Tuesday. DAN DEES, CO-HEAD OF GLOBAL BANKING & MARKETS, 52Dan Dees is the co-head of Goldman's global banking and markets division. JULIAN SALISBURY, CHIEF INVESTMENT OFFICER OF ASSET AND WEALTH MANAGEMENT, 51Julian Salisbury is chief investment officer of Goldman's asset and wealth management unit. KIM POSNETT, CO-HEAD OF ONE GOLDMAN SACHS, 45Kim Posnett is co-head of One Goldman Sachs, the company's program to unify its approach to clients across divisions.

☆ Credit Suisse 'seriously breached' obligations in Greensill case, Swiss regulator says
▼ + stars: | 2023-02-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

The logo of Credit Suisse Group in Davos, Switzerland, on Monday, Jan. 16, 2023.Credit Suisse "seriously breached its supervisory obligations" in the context of its business relationship with financier Lex Greensill and his companies, Swiss regulator FINMA concluded Tuesday. Credit Suisse CEO Ulrich Körner welcomed the conclusion of the FINMA investigation in a statement Tuesday. In March 2021, Credit Suisse closed four supply chain finance funds at short notice related to Greensill companies. FINMA announced Tuesday that it has ordered remedial measures and opened four enforcement proceedings against former Credit Suisse managers. Credit Suisse noted that all of the requirements identified by the regulator "are being addressed through the organizational measures already underway."

Yet only 54% of all businesses say they have a business continuity and disaster recovery plan for a cyberattack. 2 2022 Small Business Profile, U.S. Small Business Administration Office of Advocacy. https://cdn.advocacy.sba.gov/wp-content/uploads/2022/08/30121338/Small-Business-Economic-Profile-US.pdfCyber Readiness Institute (CRI) is not an affiliate of any company of the Principal Financial Group®. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392. ©2023 Principal Financial Services, Inc.

☆ India's Amrutanjan Health Care sinks on whistleblower allegations
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Feb 15 (Reuters) - Shares of India's Amrutanjan Health Care Ltd (AJAN.NS) plunged as much as nearly 10% on Wednesday, a day after it said an anonymous whistleblower complaint alleged some senior management of "undue enrichment" and "conflict of interest." Amrutanjan's shares closed 1.4% lower on Tuesday after the company disclosed the allegations, and were down 8.7% as of 12.14 p.m. IST on Wednesday. The complaint alleged "lapses by certain senior management employees including undue enrichment through marketing, advertising and procurement activities, ethical concerns and conflict of interest etc," Amrutanjan said on Tuesday. Amrutanjan did not immediately respond to a Reuters' email seeking further details on the complaint, including if the company has conducted its own probe or if the managers were still employed with the company. ($1 = 82.8600 Indian rupees)Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Google employees are internally mocking the company's Bard AI chatbot announcement, calling it 'rushed' and 'botched' in series of memes, report says
▼ + stars: | 2023-02-10 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Google unveiled its ChatGPT competitor, Bard, in a brief presentation earlier this week. The brevity of the presentation and the fact that Bard gave at least one incorrect answer led to criticism of the event. Internally, Google employees are making jokes about the event and CEO Sundar Pichai, according to CNBC. "Dear Sundar, the Bard launch and the layoffs were rushed, botched, and myopic," one popular meme that included a picture of Pichai read, according to CNBC. Google did not immediately return Insider's request for comment about the internal response to Bard.

☆ Credit Suisse investor loses faith in management over cash outflows
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +3 min

Thomae said investors were particularly disappointed that withdrawals had continued after Credit Suisse CEO Ulrich Koerner and Chairman Axel Lehmann had said the situation had stabilised. Deka, which is owned by Germany's unlisted savings banks, holds a stake of 0.02% in Credit Suisse, according to Refinitiv data. Credit Suisse shares rebounded on Friday, gaining nearly 4% after losing nearly 15% on Thursday when shareholders took fright at results described by one shareholder as "catastrophic." The market is still wondering what the risk/return profile of “New Credit Suisse” will look like," Venditti said. Ratings agencies said Credit Suisse had 'some momentum' in its restructuring, including disposing of non core assets and slashing costs, but faced significant risks ahead.

☆ How to pitch yourself for a promotion before you even ask your boss: Track your achievements, align allies, and say the right phrases in meetings
▼ + stars: | 2023-02-10 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

Career coaches shared what you can do to get a raise or promotion before asking for one. Research what sort of salary raise a promotion could meanIf your employer offers you a promotion without a salary raise, it's not a promotion, O'Keeffe said. DeMase suggested asking colleagues who have a role similar to the one you want how much they're being paid. A good strategy for negotiations is to start by asking for a higher salary than what you expect to receive, DeMase said. O'Keeffe suggested timing your approach to ask for a promotion just after you've achieved something concrete for the business, such as landing new clients.

☆ The energy giant whose boss was poisoned with cyanide is looking for a new CEO — a role described as 'impossible' and the 'worst job in global energy'
▼ + stars: | 2023-02-06 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

South Africa's energy giant Eskom has published a job advert for a new chief executive officer. Eskom's current CEO was poisoned with cyanide in December after submitting his resignation. The role was described by current CEO Andre de Ruyter as "impossible." The ad makes no specific mention of the strange circumstances in which the company's current CEO, Andre De Ruyter, announced his departure from the role. The role was described by Bloomberg as the "worst job in global energy," while South African publication BusinessTech called it "the worst job in South Africa."

In a statement that did not name Kolomoiskiy, the SBU published the same photographs, but with the person's face blurred out. If someone is not ready for change, then the state itself will come and help them change," Arakhamia wrote on the Telegram messaging app. The head of the State Bureau of Investigation said the law enforcement action was "only the beginning". The oligarchs took control of swathes of industry during the post-Soviet privatisations of the 1990s and wield influence to this day. Reporting by Olena Harmash; writing by Tom Balmforth; editing by Timothy Heritage and Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

☆ A public-speaking expert shares 8 tips to perfect — and even enjoy — your next work presentation
▼ + stars: | 2023-01-30 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

Practice your presentation beforehand — but don't memorizeGold cautioned against learning a presentation by rote. He suggested thinking about a presentation as several stories, each with a point, to allow yourself flexibility while speaking. "There's no harm in giving a presentation with less data, and then following up with a handout," Gold added. "You want it to be something that gives them a visual trigger to remember what you said after the presentation rather than being the actual presentation itself," Gold said. He suggested that, if you don't know an answer, tell them that it's a great question but you don't want to answer off the cuff.

☆ Risk Management at Crypto Firms Is in Focus Following FTX Collapse
▼ + stars: | 2023-01-09 | by ( Mengqi Sun | ) www.wsj.com time to read: +7 min

Cryptocurrency companies are disclosing more information about their internal controls and risk management following the collapse of FTX, but a level of transparency in the industry that would make many investors feel comfortable remains far off. Jeff Horowitz, BitGo chief compliance officer Photo: Jeff Horowitz“We need better risk management, more guardrails…and we need some of that installed into the crypto industry,” said Jeff Horowitz, chief compliance officer at crypto custodian BitGo. Although most crypto firms aren’t subject to formal federal regulation, many have adopted the enterprise-risk-management programs that U.S. watchdogs require of mainstream financial institutions in the wake of the 2008 financial crisis. As the crypto industry matures, these executives said it is important for investors and consumers to check for signs of adequate risk management and compliance measures at crypto firms. Other signs include whether the company engages in outside due diligence, whether assets are segregated and how secure crypto assets passwords are kept.

☆ Southwest Airlines reshuffles senior management roles
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] Southwest customers visit the help desk after U.S. airlines, led by Southwest, canceled thousands of flights due to a massive winter storm which swept over much of the country before and during the Christmas holiday weekend, at Dallas Love Field Airport in Dallas, Texas, U.S., December 28, 2022. The Texas-based carrier promoted vice president of network planning, Adam Decaire, to senior vice president of network planning and network operations control (NOC), effective immediately. "This change creates a tighter feedback loop between schedule design and schedule execution while adding resiliency and reliability to the network," the carrier said. The carrier on Monday announced key leadership changes in departments including marketing & customer experience, culture & communications, legal-corporate & transactions and sales. Reporting by Aishwarya Nair in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Thousands of laid-off employees from Meta and Twitter are competing for tech jobs, but staff from smaller firms are still in demand. Tech experts offer three reasons why.
▼ + stars: | 2022-12-30 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +5 min

Tech workers laid off by startups don't generally get as much support as those from giants like Meta and Twitter. Tech experts told Insider that workers from startups are just as valuable as those from big tech firms. But she emphasized that workers laid off by startups also have relevant skills and qualifications that can help them land roles. Big tech employees are overwhelmed with offersOften big tech employees who have been laid off and gone viral on social media are overwhelmed with messages and offers, so reaching out as a recruiter has little impact. Gupta said she wouldn't "rely" on a big tech employee for a role, but instead continue her sourcing and outreach to other candidates.

☆ 90% of your early success boils down to this skill, says millionaire: 'Most young people are terrible at it'
▼ + stars: | 2022-12-22 | by ( Steve Adcock | ) www.cnbc.com time to read: +3 min

Knowing how to develop a rapport with people is crucial in so many facets of your professional life, such as navigating relationships, problem-solving, getting clients, public speaking, and negotiating salaries and raises. Based on my experience, 90% of your early success boils down to your ability nail job interviews. I've seen people show up to interviews in a t-shirt and jeans while I was wearing a buttoned-down shirt. When job interviewers ask about your biggest weaknesses, what they're really measuring is your level of self-awareness and problem-solving skills. Never pass on the chance to ask questions at the end of an interview.

☆ Survived the tech layoffs? Congrats, but you're not out of the woods yet.
▼ + stars: | 2022-12-15 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Tech workers who survived layoffs this year will likely face tougher performance reviews next year. From Meta to Salesforce, tech firms across the board are looking to tighten their belts further in 2023 using a tactic unpopular with workers: stack ranking. Buckley noted that scenarios like this make it easier for companies to offer increasingly vague notions of what counts as low performance. Last week, Insider reported that the number of people finding themselves in the lowest-performance categories come annual performance reviews in January will roughly double. Buckley said those who remain will likely have to meet higher expectations — Salesforce teams, for example, have been given higher sales targets.

☆ As more men leave the workforce, women are stepping in to fill those jobs
▼ + stars: | 2022-12-15 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

And that is reflective of new trends developing both for men and women in the labor force. In recent months, more men aged 30-44 have been dropping out of the workforce, according to data from the Bureau of Labor Statistics. Although more men are stepping out of the workforce to take care of children post-pandemic, it’s still only in the single digits, according to economist Richard V. Reeves. The data showed that the total number was skewed more towards women than men, since so many women assumed caretaker roles at home when daycare centers and schools closed during lockdowns. Since then, men and women have gained back all the jobs lost.

☆ Petrobras shares dive on Brazil vote to ease rules on politicians running state firms
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Dec 14 (Reuters) - Brazil's lower house of Congress voted late on Tuesday to make it easier for politicians to take roles at state-run firms, hammering shares of the state-run oil company, devastated by a political graft scandal over the past decade. Shares in state-run oil company Petroleo Brasileiro SA (PETR4.SA) (Petrobras) closed 10% lower on Wednesday. Analysts at BTG Pactual said the revised law would be bad for governance at state-owned firms as it eliminates one of their main mechanisms of defense from political influence. Incoming Finance Minister Fernando Haddad did his best to downplay the looser controls on politicians running state firms, saying the most important way to fight corruption is with strong, independent auditors. Reporting by Eduardo Simoes, Carolina Pulice and Marcela Ayres; Writing by Steven Grattan and Gabriel Araujo; Editing by Brad Haynes, Mark Potter and Lincoln Feast.

LONDON, Dec 8 (Reuters) - Barclays (BARC.L) has promoted 85 people to managing director in its investment bank, it said on Thursday, with by far the majority of the coveted titles this year being taken by men. Nor did it give a breakdown of which part of the investment bank those promoted worked in, as it had in previous years. Meanwhile, Barclays Bank PLC, which houses the lender's investment bank, had a mean average pay gap of 43% in favour of men in 2021, the bank's pay gap report states. Barclays' investment bank has been a source of contention in recent years, after previous CEO Jes Staley fended off an activist investor who wanted the unit shrunk. Recent performances have tended to vindicate the investment bank, as in the third quarter this year, when a fixed income trading boom helped it beat market estimates.

(Jack Taylor/Pool/Reuters)Dina Boluarte took office as the new president of Peru on Wednesday after the country's Congress ousted Pedro Castillo through a vacancy motion following his attempt to dissolve the governing body. Boluarte became the country's first female president, and just a few hours before, had served as Peru's vice president. It is the sixth time that Peru has had a new president in less than five years. In 2018, she was a candidate for mayor of Surquillo with the Perú Libre Party. During the 2021 general elections, she was a candidate for the vice presidency for the Perú Libre party.

☆ Who is Dina Boluarte, Peru’s first female president?
▼ + stars: | 2022-12-07 | by ( Cnne'S Rocio Munoz Ledo | ) edition.cnn.com time to read: +3 min

CNN —Dina Boluarte took office as the new President of Peru on Wednesday, after Congress ousted former president Pedro Castillo. In this turbulent context, Boluarte, who until a few hours ago was the country’s Vice President, took over as Castillo’s successor after being sworn in before the plenary session of Congress on Wednesday afternoon. She is the first female president in Peru’s history, and the sixth Peruvian president in less than five years. During the 2021 general elections, Boluarte was a candidate for vice presidency for the Peru Libre party and Castillo’s running mate. However, she remained a member of cabinet as vice president.

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