Business, Management, Marketing, Money, Tax, Law, People

Banking has had a couple of very good years—the best, in fact, since the global financial crisis of 2007–09. Yet to some, the industry’s outlook seems less buoyant than recent profitability might suggest. On this episode of The McKinsey Podcast, McKinsey Senior Partners Klaus Dallerup and Pradip Patiath speak with McKinsey Global Editorial Director Lucia Rahilly about McKinsey’s latest global banking annual review, breaking down the sources of skepticism, the risks and…

Brazil’s economic sentiment has taken a hit. Overall, consumers are more pessimistic about the state of Brazil’s economy than they were last year or even last quarter. At first glance, this shift seems counterintuitive given the country’s robust economic landscape. Unemployment has fallen to 6.2 percent, almost the lowest level on record, and GDP is hovering at around 3 percent. However, this positive momentum is overshadowed by persistent inflation, at…

Telecommunication operators have set ambitious targets to decarbonize their emissions footprint, but so far most have gone after the low-hanging fruit. Some have made progress on emissions from their operations (Scope 1) and those from the energy they use (Scope 2). However, few have squarely taken on the much more challenging emissions from their value chain (Scope 3), which account for the majority of their carbon footprint. The challenge is…

In 2024, chief technology officers (CTOs) at consumer companies grappled with the challenges—and embraced the opportunities—of the evolving technology landscape. Learning to use and extract value from AI, modernizing legacy tech systems, meeting ever higher consumer expectations, and complying with digital-trust legislation were all top of mind for these leaders. In the year to come, these issues will become only more pressing. To stay ahead of the challenges, consumer CTOs—or…

Forward-thinking organizations understand that talent management is a critical component of business success. S&P 500 companies that excel at maximizing their return on talent generate an astonishing 300 percent more revenue per employee compared with the median firm, McKinsey research shows. In many cases, these top performers are using strategic workforce planning (SWP) to stay ahead in the talent race, treating talent with the same rigor as managing their financial…

At a glance Diverging work experience patterns drive a “work-experience pay gap” that makes up nearly 80 percent of the total gender pay gap, equal to 27 cents on the dollar among US professional workers. Women tend to build less human capital through work experience than men who start in the same occupations, as seen in the tens of thousands of career trajectories we analyze. Over a 30-year career, the…

President Donald Trump took office on January 20 amid a flurry of executive orders focusing on multiple issues—many with significant economic implications. Notable instructions signed off by the returning president include measures to deport illegal migrants, an “America First” trade policy, relaxation of energy- and climate-related policies, and various orders addressing the development of artificial intelligence.On February 1, the US president announced a 25% import tax on goods from North…

The world looks quite different from when Frank Mars started selling candy out of his Tacoma, Washington, kitchen in 1911. Today the family-owned business is driven by what consumers want and prioritize. The company’s Food & Nutrition segment is focused on making food that is not just tasty but also convenient and healthy. In a recent conversation between McKinsey partner Biljana Cvetanovski and Shaid Shah, Mars Food & Nutrition global…