What do pressures on renters mean for financial stability?
The purpose of Bank Overground is to share our internal analysis. Each bite-sized post summarises a piece of analysis that supported a policy or operational decision.
Karel van Wijk: Conquering the world out of his own kitchen
“I can quit whenever I want. That thought gives me peace of mind, joy in my work and certainty” Karel van Wijk embodies the modern-day tale of David and Goliath: he made his company, Advanced Valve Solutions successfully compete with the largest players in the energy industry, with the sale to the Swedish tech giant Addtech as his final achievement. 65 years ago, Karel van Wijk was born with a…
DOJ Issues Proposed ADA Regulations For State and Local Government Websites
Almost precisely a year after the Department of Justice (DOJ) announced its intent to begin the rulemaking process to enact website accessibility regulations applicable to state and local governments under Title II of the Americans with Disabilities Act (ADA), the DOJ has published its Notice of Proposed Rulemaking (NPRM) to the Federal Register for publication today, August 4, 2023. We will follow up with another post with more substantive analysis, but here…
How feed supplements can reduce methane emissions in agriculture
Mark van Nieuwland is the vice president of Bovaer, a methane-reducing feed additive, at Swiss-Dutch nutrition, health, and beauty company dsm-firmenich (DSM). Joshua Katz, a McKinsey partner and leader in the agriculture and private equity space, and Wilson Roen, a McKinsey consultant and sustainability fellow, talked with Mark about the development of Bovaer, how the agriculture industry can encourage further adoption among farmers, and what the world can do to…
How a CEO’s personality affects corporate culture
Before he became an expert on corporate leadership, Charles O’Reilly spent five years in the U.S. Army. There he witnessed the stark divide between good and bad leaders and realized how much influence they had on the people who worked for them. Now a professor of organizational behavior at Stanford Graduate School of Business, O’Reilly says his time in the military sparked his interest in leadership, particularly his fascination with…
Robots cause company profits to fall – at least at first
The researchers, from the University of Cambridge, studied industry data from the UK and 24 other European countries between 1995 and 2017, and found that at low levels of adoption, robots have a negative effect on profit margins. But at higher levels of adoption, robots can help increase profits. According to the researchers, this U-shaped phenomenon is due to the relationship between reducing costs, developing new processes and innovating new…
Modern Slavery – A Reminder of Corporate Duties
Recent figures obtained by the BBC’s File on 4 have found that the number of modern slavery cases reported within the UK care sector has more than doubled in the past year. According to the figures, there were 109 potential victims exploited for personal or financial gain between January and March, which was twice as high as the figure recorded during the same period last year. This investigation report has…
Coherent’s Chuck Mattera on growing a $5 billion company
Chuck Mattera, chair and CEO of Coherent, formerly II-VI, has spent a lifetime building businesses by harnessing breakthrough technologies. At Coherent, he has championed a strategy focused on acquisitions to achieve scale and deliver innovations in the industrial, communications, electronics, and instrumentation markets. McKinsey’s André Andonian and Abhijit Mahindroo sat down with him to discuss the lessons he has learned and his plans for the future. An edited version of…
Capital Gains Tax – how to avoid main residence relief traps
Main Residence Relief is a valuable Capital Gains Tax allowance which saved taxpayers around £26.7 billion in 2021. But there are some pinch points which it makes sense to be aware of – so you don’t get caught out. Peter Webb, our Head of Tax Advisory, looks at how to avoid some of the tax traps. If your property (legally referred to as “dwelling house”) has been your main residence…
What did the Romans do for us? Aqueducts and the art of Roman water management
According to the research, published in Science Advances, ancient water management traces are captured in the limescale deposits which built up on the walls and floor of the ancient Roman aqueduct of Divona (Cahors, France). Ancient water management traces are captured in the limescale deposits which built up on the walls and floor of the ancient Roman aqueduct of Divona The evidence shows that these deposits were regularly and partially removed during…
Delta, Porsche celebrate partnership with rare appearance of 918 Spyder
Combined, Dan Lavker and Anthony Grant have over a half-century of tenure with Delta. As members of the Elite Services team, they craft memorable, premium experiences for customers at Hartsfield-Jackson Atlanta International Airport (ATL). You’ll often find them behind the wheel of a Porsche Cayenne, ferrying customers between connecting flights. Most recipients are lucky, unsuspecting customers who find an Elite Service Ambassador waiting for them at their plane’s boarding door…
Fighting wildfire with AI
As we think about the growing wildfire season around the world and its impact on people and the planet, it’s easy to feel powerless. But AI can help. Wildfires are already breaking records in North America. So far this year, we’ve seen more than 28 million acres burned in Canada, blanketing smoke across the east coast and creating unsafe air for millions. Recent fires surrounding the Mediterranean resulted in the…
5 sound financial lessons you can teach your children or grandchildren this summer
The summer holidays are here and you may be wondering how you are going to keep your children or grandchildren entertained until they go back to school. You will likely be spending a lot more time with them taking trips together, going on family days out, or just relaxing at home. While you have this quality time with them, you have a great opportunity to teach them some of the…
Toyota’s New Land Cruiser “250” Makes World Premiere
(Finally, a car that looks like a car) Presentation by Simon Humphries Good morning, everyone. The history of Land Cruiser, is a history of Toyota itself. Let me take you back exactly 72 years, when the Land Cruiser legend was born. It was the time of Kiichiro Toyoda, founder of Toyota Motor Corporation. The company was only 14 years old, a disruptive "start-up" in the automotive world. Corolla and Crown,…
California Court Casts Doubt on Copyright Claims Relating to AI Images
Several U.S. courts are addressing lawsuits brought by artists alleging that AI-generated art infringes on copyrights held by the artists for their artwork. In one of those cases, a California federal judge recently indicated that he would dismiss the bulk of the plaintiffs’ complaint, while giving them a chance to re-plead their claims. A written decision from the court is forthcoming, and that decision could be an important one for…
More and older cars in Germany
Cars are by far the most popular and important means of transport The car is still by far the most important means of passenger transport. According to the latest DAT report, 77% of those surveyed consider their own car indispensable for ensuring everyday mobility. In 2021, just under 87% of total passenger transport performance was attributable to so-called motorized individual transport (MIV; predominantly passenger cars). It is true that this…
What is Hyperlocalism, and What Does it Mean for Your Marketing Strategy?
In our fast-paced and ever-changing market, understanding consumer motivations and preferences, specifically for younger generations, is key for organizations looking to remain profitable and relevant. For many CP companies, the growing trend of hyperlocalism is one way to achieve that success. So, what is hyperlocalism? What is Hyperlocalism? Hyperlocalism refers to a strategy that targets potential consumers within a specific geographical location. It aims to provide personalized products tailored to…
Why Do We Continue to Reward A, While Hoping for B?
Often the incentives we put in place to stimulate and reward performance produce unexpected behaviors. Causes vary from one individual to another, depending on what each of us values and what we are willing to do for the organization and the incentive. Misfires also occur because of policies that conflict with incentives or the ways the incentives are administered. In 1975, Steve Kerr, who would later become head of executive…
Finally, The Critics of Bidenomics Are Being Proven Wrong
Cynics often know the price of everything but the value of nothing. Remember how, just months ago, leading economic voices were predicting a catastrophic “Category 5 economic hurricane” this year? The astounding 2.4% GDP growth revealed this week, with plunging inflation, historically low unemployment, and corporate profit reports soaring past expectations, have knocked the wind out of the fact-free cynics. It’s been said that cynics sound smarter than optimists because…
A Lasting Power of Attorney matters at any age
It’s normal to consider completing a Lasting Power of Attorney (LPA) as you age, however these important documents are essential no matter how old – or young – you are. Steve Wright, our Estates Director, explores why it’s so important to not only complete LPAs but also register them. Considering what might happen if you aren’t able to make your own decisions probably isn’t something most people are keen to…
Why Better Pay Didn’t Stop Amazon Employees from Trying to Unionize
When unionization rumors begin, most companies react by throwing money at the problem. But that won’t halt the drive if workers feel mistreated or ignored, as Amazon found out. The company boosted hourly wages and benefits for warehouse workers, but many employees continued to call for union intervention. They said the company disregarded their concerns that they were being monitored, overworked, and in some cases, placed in unsafe environments. “Yes,…
What Value (if any) Do Management Consultants Provide?
For businesses seeking to stay ahead, embracing strategic changes becomes vital. Management consultants provide the necessary insights and support to execute these changes, making a significant impact on an organization’s growth. Introduction In today’s fast-paced business world, organizations face complex challenges that demand expert guidance for successful navigation. Management consultants, with their specialized expertise, offer invaluable assistance to businesses across various sectors. This article explores the significant value that management consultants…
More Countries, More Problems: Selling AI Products Around the World Is Still Too Hard
A dynamic new wave of digital-first companies has emerged, driven by a significant decrease in the cost of building a minimal viable venture and further propelled by recent advancements in Generative AI. Founders can now quickly build chatbots/companions, education tools, image generation tools, lightweight SaaS apps, and games for customers around the world. Selling these digital products globally, however, is not yet straightforward. Founders currently need to stitch together multiple complex tools including payment platforms, support tools, tax…
Solving for a Bad Boss: Whose Responsibility Is it?
Recent research published by our People Science team highlights a significant problem affecting organizations across industries: bad bosses. This phenomenon, while widely recognized, can be viewed from a number of perspectives. When preparing our original report, we were asked a provocative question: why wouldn’t an employee, unhappy with a less-than-ideal manager, simply quit to seek out “greener workplace pastures.” The reality is that leaving a job because of an ineffective…
Rethinking algorithmic decision-making
In a new paper, Stanford University authors, including Stanford Law Associate Professor Julian Nyarko, illuminate how algorithmic decisions based on ‘fairness’ don’t always lead to equitable or desirable outcomes. Algorithms underpin large and small decisions on a massive scale every day: who gets screened for diseases like diabetes, who receives a kidney transplant, how police resources are allocated, who sees ads for housing or employment, how recidivism rates are calculated,…
What a surprise: Researchers Discover New Vulnerability in Large Language Models
Large language models (LLMs) use deep-learning techniques to process and generate human-like text. The models train on vast amounts of data from books, articles, websites and other sources to generate responses, translate languages, summarize text, answer questions and perform a wide range of natural language processing tasks. This rapidly evolving artificial intelligence technology has led to the creation of both open- and closed-source tools, such as ChatGPT, Claude and Google…
Speaking robot: Our new AI model translates vision and language into robotic actions
Google DeepMind introduces a new vision-language-action model for improving robotics.
Twelve disruptions changing the world by the War in Ukraine
Russia’s war in Ukraine is an ongoing tragedy, destroying lives and livelihoods in Ukraine and altering economic patterns worldwide. In May 2022, we set out an initial analysis of 12 disruptions that the war could unleash. With the passage of time, it seems increasingly likely that the war, coming so soon after a global pandemic, could presage a new economic era. We have been here before: today’s shocks are reminiscent…
Alan Friedman: To Err Is Human
Harlan Krumholz: Welcome to Health & Veritas. I’m Harlan Krumholz. Howard Forman: And I’m Howie Forman. We’re physicians and professors at Yale University. We’re trying to get closer to the truth about health and healthcare. We have an exciting interview coming up with Dr. Alan Friedman of Yale New Haven Hospital and Yale School of Medicine. But first, in keeping with a podcast that is sponsored by a school of…
Moving communities to safety
How to move communities away from flooding risks with minimal harm As sea levels rise and flooding becomes more frequent, many countries are considering a controversial strategy: relocation of communities. A Stanford analysis of planned relocations around the world reveals a blueprint for positive outcomes. By Rob Jordan Stanford Woods Institute for the Environment As sea levels rise and flooding becomes more frequent, many countries are considering a controversial strategy:…
Public Speaking Tips from an Introvert
I was sitting in the front row of a large conference room with 150+ colleagues behind me. I felt a wave of nervousness wash over me while I was waiting for my turn to get on stage and speak. I’m an introvert and hated public speaking. Butterflies in my stomach. Sweaty palms. Why do I have so much saliva right now? I’m swallowing too much. It’s too cold in here…
It keeps going up: The Growing Market for Functional Alcoholic Beverages
In today’s ever-changing consumer landscape, the alcohol industry has shown fascinating transformations to meet the demands of shifting consumer tastes and preferences. 2022 marked the first year where the spirits market share surpassed the beer market share in the U.S. beverage alcohol market. Largely attributed to the impacts of the Covid pandemic, the alcohol industry is experiencing a new era of health-conscious consumers. The rise of “better-for-you” alcoholic beverages has…
What are connected autonomous vehicles?
Connected autonomous vehicles combine the digital world with automated technologies to assist or replace humans in cars. These vehicles’ sensors and cameras read the car’s surroundings and make constant connections to the Internet, GPS tracking systems and telecommunications networks. An autonomous vehicle shares information inside and outside the car. It connects with the online cloud, with other cars, with satellites, with cellular networks, with emergency services and road infrastructure. It…
Electric-vehicle buyers demand new experiences
When buying an electric vehicle, consumers want an experience that matches their expectations of the car itself. That is, something exciting and innovative but also reliable and predictable. They expect to both transact online and negotiate with a real person, and they still need to take a test drive. However, the overall experience needs to be more seamless, more personalized, and more flexible than it was in the days of…
Offering free AI training for everyone in the UK
Jonny Cottom knows the juggle involved with running a start-up single handedly. Since launching BreakBottle, an eco-friendly water bottle brand, last year, he has been s…
Research: Why Employees Accept Lower Pay at Mission-Oriented Companies
A closer look at the social pressures that dissuade job candidates from negotiating for more money.
Think again. Training your way to culture change?
The answer may not be obvious at first. Here are a few ways we see companies taking on culture change, often under the guise of a different name: Adopting and socializing a new customer-first go-to-market strategy Shifting from working heads-down in silos to formal, cross-functional collaboration Turning the tide to incite more inclusive behaviors When starting to make these shifts, the go-to answer is often: “Let’s talk to HR –…
How the late Aretha Franklin shows the importance of discussing estate plans with your family
Typically, a will is an official document drawn up by a legal professional. It clearly outlines how you want your estate to be distributed after you are gone, and it should avoid any confusion or disputes. However, a recent court case involving the late Aretha Franklin demonstrated that this is not always the case. The “Queen of Soul” did not leave a formal will behind when she died. Instead, her…
It’s OK to Fail, but You Have to Do It Right
Failing once at something new is an experiment, and experiments are crucial to success. Failing twice at the same thing might be more accurately called a mistake.
The hotel of the future
How will hotel operators use new technologies, respond to travelers’ changing needs and preferences, and become more sustainable? Five leaders of McKinsey’s Travel, Logistics & Infrastructure Practice envision what the hotel experience might be like in the 2030s. The following transcript has been edited for clarity. Convenience and customization Caroline Tufft: The big change that I anticipate, more than anything, in hotels in the future is that every single pain…
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