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☆ How to meet evolving regulations around climate change and water conservation without sacrificing profit
▼ + stars: | 2023-02-09 | by ( Sponsor Post | Created Insider Studios With Ecolab | ) www.businessinsider.com time to read: +6 min

Governments are creating incentives to help businesses reduce carbon emissions. Minimizing water use can help organizations comply with government regulations without sacrificing profit. Understanding the ties between water use and climate change is an important step for businesses as they look to meet evolving government regulations. "This is a great example of how Ecolab Water for Climate is helping organizations meet evolving regulations." These tactics help businesses achieve profitable outcomes, leverage incentives, and meet regulatory requirements.

☆ China willing to restart trade dialogue with Australia after talks
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

The virtual meeting "represents another important step in the stabilisation of Australia's relations with China," Farrell said after the first talks between the trade ministers of the two countries since 2019. Wang said China is willing to restart the mechanism facilitating dialogue with Australia on economic and trade issues and to expand cooperation in emerging areas including climate change and the new energy sectors. China's top economic planner in May 2021 suspended all activity under a China-Australia Strategic Economic Dialogue which was an important forum for Australia and China to work through issues relevant to bilateral economic partnership. The Chinese statement said Australia was also willing to work with China to enhance mutual trust and resolve differences through candid dialogue. Wang described China and Australia as important economic and trade partners, with a highly complementary economic structure, making cooperation mutually beneficial.

☆ Saudi non-oil private sector activity jumps in January on higher output, orders
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Feb 5 (Reuters) - Growth in Saudi Arabia's non-oil business activity accelerated in January, having hit a three-month low the previous month, a survey showed on Sunday, supported by an increase in new orders and output. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index increased to 58.2 in January, from 56.9 in the previous month and well above the 50 mark separating growth from contraction. "This growth confirms the Saudi position as the fastest-growing economy among the Group of 20 countries despite economic headwinds," said Naif Al-Ghaith, Chief Economist at Riyad Bank. The output sub-index rose to 63.6 in January from 61.0 the previous month, mainly on higher demand, as the new orders sub-index jumped to 65.3 from 62.9 in December, with the strongest increase recorded among service providers. Confidence among private firms in the non-oil sector increased to a two-year high last month with survey participants forecasting a strong year ahead supported by new order inflows, high capacity, and lower expected costs.

☆ Samsung earnings: 2022 Q4 profits sink to 8-year low as smartphone and PC demand drops
▼ + stars: | 2023-01-30 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Revenue fell 8% to just under 70.5 trillion won ($57.3 billion), it said in a statement. “The business environment deteriorated significantly in the fourth quarter due to weak demand amid a global economic slowdown,” Samsung noted in the statement. Samsung (SSNLF) had flagged the lackluster performance in a pre-earnings forecast earlier this month, with analysts citing falling memory chip prices and fewer orders of consumer devices. Samsung said it took in 302.2 trillion won ($245.7 billion) in revenue for the full year of 2022, up from 279.6 trillion won ($227.4 billion) in 2021, and a record high. Analysts have said, however, that they expect the company’s profits to drop again this quarter because of a continued decline in memory chip prices.

☆ Yellen says South Africa needs action to maintain energy transition momentum
▼ + stars: | 2023-01-27 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

[1/3] U.S. Treasury Secretary Janet Yellen attends media briefing ahead of bilateral talks with South Africa's Finance Minister Enoch Godongwana (not pictured), at the treasury offices in Pretoria, South Africa, January 26, 2023. REUTERS/Siphiwe SibekoJOHANNESBURG, Jan 27 (Reuters) - South Africa needs concrete action soon if it is to maintain momentum on an energy transition program backed by the United States and other countries, U.S. Treasury Secretary Janet Yellen said on Friday after visiting the coal mining region of Mpumalanga. She expressed hope that Washington's focus on a just energy transition would underpin donor interest in backing the nearly $100 billion project aimed at supporting South Africa's gradual phasing out of fossil fuels. The United States, Britain, France, Germany and the European Union have backed South Africa's "Just Energy Transition Partnership" with a combined $8.5 billion, which Yellen called a "substantial down payment" designed to mobilise additional money. "An energy transition that is not just will simply not work.

☆ The business environment is not getting easier in the short-term, says SAP CFO
▼ + stars: | 2023-01-26 | 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 business environment is not getting easier in the short-term, says SAP CFOLuka Mucic, CFO of SAP, discusses the company's fourth-quarter earnings and his outlook for the cloud business in 2023.

☆ Yellen urges Zambia debt restructure after talks with China
▼ + stars: | 2023-01-24 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

[1/6] U.S. Treasury Secretary Janet Yellen signs a guest book at the State House during her visit, in Lusaka, Zambia, January 23, 2023. REUTERS/Namukolo SiyumbwaLUSAKA, Jan 23 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Monday during a visit to Zambia that it was critically important to restructure the country's debt, and she believes progress could be made after her frank talks with key creditor China last week. Yellen added that Zambia's debt overhang was a drag on its whole economy and that China had been a barrier to resolving the southern African country's debt problem. "I specifically raised the issue with Zambia (with Chinese officials) and asked for their cooperation in trying to reach a speedy resolution. "We will continue to press for all official bilateral and private-sector creditors to meaningfully participate in debt relief for Zambia, especially China," she said.

☆ Yellen says critically important to restructure Zambia debt
▼ + stars: | 2023-01-23 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

[1/2] U.S. Treasury Secretary Janet Yellen gives a speech after she visited the House of Slaves (Maison des Esclaves) at Goree Island off the coast of Dakar, Senegal January 21, 2023. REUTERS/Ngouda DioneLUSAKA, Jan 23 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Monday during a visit to Zambia that it was critically important to restructure Zambia's debt, and she believed progress could be made after her frank talks with key creditor China last week. Yellen added that Zambia's debt overhang was a drag on its whole economy and that China had been a barrier to reaching a resolution on the southern African country's debt problem. "I specifically raised the issue with Zambia (with Chinese officials) and asked for their cooperation in trying to reach a speedy resolution. She said it was also critically important for Zambia to address corruption and human rights, and create a business environment that would promote investments and trade.

☆ Here are the 10 best — and 10 worst — US states to start a new business, according to a new report
▼ + stars: | 2023-01-22 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: 1 min

The 10 bestThe financial website WalletHub recently ranked the 50 states according to which ones were the best and worst for starting a business. runner of art/Getty ImagesWhere you start a business can make a big impact on how well it fares. A new WalletHub study evaluated states across three metrics: "Business Environment" looked at 14 factors ranging from five-year business survival rate to the average length of the work week. While "Business Costs" examined seven types of costs including office-space affordability, labor costs, and state and local tax rates. Here are 10 best states to launch a business, according to WalletHub.

☆ Most big Japanese firms heed prime minister's call to raise wages this year
▼ + stars: | 2023-01-18 | by ( Rocky Swift | ) www.reuters.com time to read: +4 min

That push was boosted last week when Uniqlo operator Fast Retailing Co (9983.T) said it would raise wages by as much as 40%. Another 29% said they would carry out regular pay increases only, while 38% were undecided. "Prime Minister Kishida has been saying raise wages, raise wages, but the decision to hike pay isn't done on the words of a prime minister or president," said Masayuki Kubota, chief strategist at Rakuten Securities. Smaller firms generally cannot increase pay, business owners, economists and officials say, because they often struggle to pass on higher costs out of fear of losing customers. The Reuters Corporate Survey, conducted for Reuters by Nikkei Research between Dec. 23 and Jan. 13, canvassed 495 big non-financial Japanese firms on condition of anonymity, allowing them to speak more freely.

☆ CapGemini CEO: Business environment right now continues to be good
▼ + stars: | 2023-01-16 | 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 EmailCapGemini CEO: Business environment right now continues to be goodAiman Eizzat, CEO of CapGemini, speaks to CNBC's Joumanna Bercetche at the World Economic Forum in Davos, Switzerland.

[1/3] Toshiya Imura, 38, a comedian-turned-investor, poses for a photograph during an interview with Reuters in Tokyo, Japan December 26, 2022. REUTERS/Issei KatoTOKYO, Jan 13 (Reuters) - Japan's newest star investor has no car or hobbies and rarely eats out. Small investors took notice and piled into the companies, which have become known as "Imura stocks". "Good business performance alone can't become alpha," he said, referring to the returns on an investment that exceed a benchmark. Mitsui Matsushima, Sumiseki and First Bank of Toyama all declined to comment when asked about Imura.

"With most U.S. economists forecasting either a recession or significant slowdown this year, banks will likely incorporate a more severe economic outlook," said Morgan Stanley analysts led by Betsy Graseck in a note. Rising prices and higher borrowing costs have prompted consumers and businesses to curb their spending, and since banks serve as economic middlemen, their profits decline when activity slows. Reuters GraphicsStill, lenders stand to gain from rising rates that allow them to earn more from the interest they charge borrowers. Morgan Stanley and Citigroup, among others, have also cut jobs after a plunge in investment-banking activity. Analysts will also watch if banks such as Morgan Stanley and Bank of America book any writedowns on the $13-billion loan to fund Elon Musk's purchase of Twitter.

☆ Goldman Sachs will lay off up to 3,200 workers this week
▼ + stars: | 2023-01-09 | by ( Julia Horowitz | ) edition.cnn.com time to read: +2 min

London CNN —Goldman Sachs will lay off as many as 3,200 employees this week as an uncertain economic and market climate pushes the bank to hunt for cost savings, according to a person familiar with the matter. Like its Wall Street rivals, Goldman Sachs has been hit by a slump in global dealmaking activity as fewer companies merge or seek to raise capital. Goldman Sachs (GS) had 49,100 employees at the end of the third quarter. That’s hurt companies like Goldman Sachs that advise on these transactions. Shares of Goldman Sachs were up less than 1% in premarket trading Monday.

☆ Miami's mayor said the 'single hottest city in the world' will keep attracting tons of transplants in 2023
▼ + stars: | 2022-12-31 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +7 min

Miami Mayor Francis Suarez predicted people from all over the world would move to Miami in 2023. Suarez predicted Miami would effectively weather a recession. As the top executive for the city, Miami Mayor Francis Suarez has shepherded along much of the city's economic changes by encouraging tech and venture capital companies to plant offices downtown. Miami Mayor Francis Suarez, a Republican, predicted the Magic City would be able to weather a recession. As some analysts forecast a global recession hit in 2023, the mayor predicted Miami would be able to weather it.

☆ Bitcoin miner Core Scientific is filing for Chapter 11 bankruptcy — but plans to keep mining
▼ + stars: | 2022-12-20 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for Chapter 11 bankruptcy protection in Texas early Wednesday morning, according to a person familiar with the company's finances. The move follows a year of plunging cryptocurrency prices and rising energy prices. Core Scientific mines for proof-of-work cryptocurrencies like bitcoin. The process requires expensive equipment, some technical know-how, and a lot of electricity. The company will not liquidate, but will continue to operate normally while reaching a deal with senior security noteholders, which hold the bulk of the company's debt, according to this person, who declined to be named discussing confidential company matters.

☆ Jim Cramer’s week ahead: Earnings and economic data should give clues on Fed policy
▼ + stars: | 2022-12-16 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

All estimates for earnings, revenue and economic data are courtesy of FactSet. ETProjected EPS: $2.82Projected sales: $23.70 billion Last time FedEx reported, it detailed significant cost-cutting plans that should help boost profitability. Nike Q2 2023 earnings at 4:15 p.m. Thursday: Earnings from Paychex and CarmaxPaychex Q2 2023 earnings before the open; conference call at 9:30 a.m. ETProjected EPS: 95 centsProjected sales: $1.19 billion Cramer said he thinks Paychex is an even better small- and medium-size business barometer than Cintas.

Carl Icahn had a textbook strategy for the Nevada-based energy utility Southwest Gas Holdings. In August, Southwest Gas' board decided against a divestiture, and the sale of subsidiaries that Icahn had urged remains uncertain. "Shareholders don't want to hear it, but you really have great difficulty selling a company at a good price today," the widely followed activist investor Icahn told Insider. via CNBCBut, like Icahn in the case of Southwest Gas, participants in this new onslaught may find themselves confounded by an increasingly complex and fraught business environment. According to Lazard, 37% of activist campaigns this year were launched by first-timers, the highest proportion since the company started tracking these figures in 2015.

Carl Icahn had a textbook strategy for the Nevada-based energy utility Southwest Gas Holdings. In August, Southwest Gas' board decided against a divestiture, and the sale of subsidiaries that Icahn had urged remains uncertain. That means that the sale of companies like Southwest Gas is off the table for the time being — or will get done at prices far lower than before. via CNBCBut, like Icahn in the case of Southwest Gas, participants in this new onslaught may find themselves confounded by an increasingly complex and fraught business environment. According to Lazard, 37% of activist campaigns this year were launched by first-timers, the highest proportion since the company started tracking these figures in 2015.

Bonus payout discussions are currently underway at Morgan Stanley globally, they said. Morgan Stanley, which does not disclose details of bonus payouts, declined to comment. Wall Street investment bankers can expect much smaller bonuses this year as the economy slows, according to projections published last month by Johnson Associates Inc, a compensation consultant in New York. This year's bonus discussions are taking place after Morgan Stanley CEO James Gorman said earlier this month that the bank was making "modest job cuts" worldwide. Morgan Stanley reported a 30% slump in third-quarter profit in October, missing analysts' estimate as a slowdown in global dealmaking hurt its investment banking business.

☆ Compass CEO Robert Reffkin told his leadership team to step up managing out low-performing employees, as the company racks up losses and is forced to cut costs
▼ + stars: | 2022-12-09 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +5 min

Compass CEO Robert Reffkin sent an email to his leadership team on "managing out poor performers." Compass employees were disheartened. "It's also your responsibility to manage out employees who can't, or aren't, performing at that level," Reffkin wrote in the Sunday afternoon message. The full text of the memo was shared with Insider, and a Compass spokesman confirmed Reffkin sent the email. In June, Compass let go of about 450 corporate workers across departments.

REUTERS/Thomas PeterBEIJING, Dec 7 (Reuters) - Searches on Chinese travel sites surged and social media platforms were flooded with delight and relief on Wednesday as the public cheered the biggest loosening of some of the world's strictest COVID policies. CAUTIOUS OPTIMISM, EXHAUSTIONThe news was also welcomed by foreign business groups, many of which had become increasingly outspoken about the damage the zero-COVID policy was having on China's economy and the operations of their companies. "Timely implementation will help stabilise China’s economy and get life back to normal," the European Chamber of Commerce in China said of the 10 measures announced on Wednesday. It also urged China to roll out mRNA vaccines for domestic use as part of a vaccination drive with the elderly a priority. Reporting by Sophie Yu and Martin Pollard, Writing by Brenda Goh; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Three people close to FTX and Bankman-Fried told CNBC that the former CEO lobbied aggressively for a partnership with 11-time Grammy Award winner Taylor Swift. Bankman-Fried's commitment to getting the Swift deal done despite the deteriorating business environment fit a pattern of ignoring his lieutenants and going it alone, a half-dozen former company insiders and business partners said. The Financial Times reported earlier that FTX held talks with Swift about a potential sponsorship. Part of the Swift deal would have included the production by the singer of a collection of non-fungible tokens (NFTs), or digital items that can rise and fall in value. Beyond that, there was a lack of clarity over what Swift would be doing for the company, sources said.

☆ It's all about you: The founder who's the face of their brand is more likely to succeed in 2023
▼ + stars: | 2022-12-07 | by ( Alexandra York | Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +8 min

But saturated platforms make being "the face of your brand" as a founder a newly important tactic. Lisa Collum knew this and applied it to her own business by rooting the brand in her personal story. Collum is the founder and face of Top Score Writing, an 11-year-old company that sells writing curriculum to school districts and teachers. For the founder looking to grow in 2023, they need to be mindful of the way social media and the economy work hand-in-hand today. In today's business climate, being the face of your brand and speaking your mind as a founder is often the route to success.

☆ China hopes for fair, transparent environment for companies in EU - Xi
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

[1/7] European Council President Charles Michel attends a meeting with Chinese President Xi Jinping at the Great Hall of the People in Beijing, China December 1, 2022. European Union/Handout via REUTERSBEIJING, Dec 1 (Reuters) - China will strengthen strategic communication and coordination with the European Union, President Xi Jinping told the president of the European Council, Charles Michel, on Thursday. "China will remain open to European companies, and hopes the EU can eliminate interference to provide a fair and transparent business environment for Chinese companies," Xi told Michel. Xi said China and the EU should strengthen macroeconomic policy coordination and complementary advantages, jointly create new growth engines and ensure safety, stability, and reliability of industrial supply chains. His visit comes after European leaders expressed concern at a meeting in October about economic reliance on China.

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