The central role that family plays in the lives of Indians cannot be overemphasized. This is just as true in business. In India, family-owned businesses (FOBs) contribute more than 75 percent of national GDP, one of the highest percentages in the world, and this is likely to rise to 80 to 85 percent by 2047. McKinsey research reveals that, from 2017 to 2022, FOBs reported around 2.3 percent higher revenue…
The reaction of Moscow, Pyongyang and Beijing, voiced essentially in unison by states which are organisationally independent and despite the lack of any special coordination on their part, is not only not accidental, it is quite natural: it reflects a common or very similar vision of strategic threats and challenges to their own national security both in the East Asian region and in the world as a whole, Alexander Vorontsov…
The European Union (EU) has set ambitious decarbonization goals for all member states: at least a 55 percent greenhouse gas (GHG) emissions reduction target by 2030 compared to 1990 levels, and at least a 42.5 percent—although aiming for 45 percent—share of renewable energy consumption based on the Renewable Energy Directive III (RED III). To achieve these targets, major changes are required in Spain’s energy consumption. Alongside other levers such as…
Topics Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series subscribe-icon Subscribe Share Carolyn Geason-Beissel/MIT SMR | Getty Images As hybrid work programs continue to grow in popularity and full-time office work declines, many leaders and companies are still struggling with a tough question: What are the right patterns for getting people together? Free-for-all approaches that depend on individuals…
Quick Hits Louisiana’s statute of limitations for employment-related tort actions has been doubled to two years from the day an injury or damage is sustained. The law took effect on July 1, 2024, and is prospective only. Employers must provide breaks to workers under sixteen years of age whose shifts last five hours or more. Employers are prohibited from requiring predispute arbitration pacts for sexual harassment. New Two-Year Statute of…
We are excited to partner with GitHub to empower their more than 100 million developers to build AI applications directly from GitHub.com with seamless integrations with Codespaces and Microsoft Visual Studio Code. Microsoft is empowering developers to become AI developers, bringing Azure AI industry leading models to the global GitHub community of more than 100 million More than 60,000 organizations use Microsoft Azure AI today to explore the power of custom AI…
When you received your last promotion or pay rise, your first instinct might have been to celebrate by splashing out on a new gadget, booking a holiday or allocating more of your money to your disposable income. However, if you overlook reviewing your finances, “lifestyle creep” could affect your ability to reach long-term goals, including your retirement plans. Lifestyle creep leads to your regular expenses rising Lifestyle creep refers to…
Google joined several other U.S. technology companies in filing an amicus brief in Dada v NSO Group Technologies.
In the fifth installment of the McKinsey Action 9 Fireside Chat series, McKinsey partner Darius Bates chats with Byron Auguste, cofounder and CEO of Opportunity@Work, to discuss how the organization is changing the talent marketplace to enable workers, who are skilled through alternative routes (STARs) rather than four-year college degrees, to access higher-paying jobs. They are joined by McKinsey partner Carolyn Pierce, who leads McKinsey’s collaboration with Opportunity@Work. Here are…
In recent years, the intense pressure professional athletes endure has come under scrutiny, highlighted by incidents like gymnast Simone Biles withdrawing from the 2020 Tokyo Olympics and tennis player Naomi Osaka stepping back from the French Open, both citing mental health reasons. As Biles told reporters at the time, “Whenever you get in a high-stress situation, you kind of freak out,” adding: “It just sucks when you’re fighting with your…
Topics Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series subscribe-icon Subscribe Share Carolyn Geason-Beissel/MIT SMR | Getty Images What does it take to produce an award-winning AI initiative? Scotiabank — officially the Bank of Nova Scotia, and one of Canada’s largest banks — recently won two awards for AI at one event. DataIQ gave the bank a Most…
Quick Hits The King’s Speech of 17 July 2024 detailed the UK government’s upcoming priorities and proposals. This includes the Employment Rights Bill and draft Equality (Race and Disability) Bill. Among the proposed policies were several significant employment-related bills, and we have set out below the key proposals. If enacted, together these proposals would constitute the most significant reform in UK employment legislation in decades. We set out the key…
Taking a lump sum out of your pension could provide you with more financial freedom. Yet, it could also land you with a large and unexpected tax bill. Read on to find out what you need to know about tax and withdrawing lump sums from your pension. Your pension withdrawals may be liable for Income Tax You can take up to 25% (up to a maximum of £268,275 in 2024/25)…
Cooperation between Russia and African countries in the field of cloud technologies seems quite promising. The fact is that in Africa there is a great need for such cloud technology solutions, since today many government agencies in African countries are forced, for the most part, to use Google’s cloud services, which do not guarantee data confidentiality, in order to organise effective collaboration with files and documents. In this regard, an…
Remote work is here to stay and has completely changed how we do our jobs. While offering the flexibility and convenience that many employees love, it also brings its challenges. One of the biggest could be employee disengagement. Since this is a hot topic online, we thought we’d dive into it. Gallup’s 2024 research report states that fully remote workers are more lonely than those fully on-site (25% versus 16%,…
Nick Purser/Ikon Images Recent pushback against diversity, equity, and inclusion (DEI) initiatives has caused many leaders to focus on the broader topic of allyship. These leaders want to be better allies and encourage their teams to do the same. In politically charged environments, however, leaders may find the mountain of advice on how to be an effective ally conflicting, confusing, polarizing, or overwhelming to apply. Without a clear decision-making framework,…
The Corporate Transparency Act (CTA) took effect on January 1, 2024 and some U.S. nonprofits and tax-exempt organizations are still debating how the CTA applies to them. This article provides newly-formed and existing nonprofits and tax-exempt organizations with a general overview of their CTA compliance obligations and exemptions. For information about the CTA compliance obligations and exemptions applicable to subsidiaries of tax-exempt organizations, please see Part 2: CTA Compliance for…
Quick Hits OSHA announced that it intends to release a proposed rule for a workplace violence prevention in healthcare and social service facilities in December 2024. The proposed rule will most likely apply to work performed in hospitals, medical centers, residential treatment centers, nursing homes, mental health centers, and private homes where home health aides or social workers visit clients. The agency is expected to publish a final rule in…
At Microsoft for Startups, we are dedicated to empowering the next generation of AI startups. We understand the significant capital and resources required for AI development. That’s why we’ve partnered with Village Global to offer up to $350,000 in Azure Credits to startups participating in their Velocity program. These credits grant access to Azure’s state-of-the-art AI infrastructure, including high-end GPU virtual machine clusters, allowing Velocity startups to train and fine-tune…
In a historic victory, the Labour Party won a majority in the 4 July 2024 general election. After 14 years of Conservative government, you might be wondering what the change means for you and your financial plan. Since Keir Starmer took office, a day has barely passed without headlines speculating about the changes Labour will enact. The news can affect your emotions and spur you to make decisions that don’t…
In evaluating what type of go-to-market approach to use in introducing a new SaaS product to potential buyers, a founder likely will look closely at whether product-led growth (PLG) is the most effective strategy. If that’s the choice, a founder will then have to decide between two PLG pricing models: free trial and freemium. In this blog post, we will examine both models and offer real-world use case examples. We’ll…
To help businesses, investors, and deal professionals better understand the evolving M&A market, Robert Connolly – a partner in and leader of LP’s Corporate Practice Group – shares a series of conversations with M&A experts. Below is his conversation with Brett Kornblatt, who is Managing Director of Industrials-Packaging at Stout, a global advisory firm that specializes in corporate finance, accounting and transaction advisory, valuation, financial disputes, claims, and investigations. Brett…
As companies in all sectors work to shrink their carbon footprints and hit their decarbonization targets, the path to reducing Scope 3 emissions is often anything but straightforward. For some, decarbonizing Scope 3 emissions can be more like navigating a particularly byzantine maze. Such is the case for retailers. For the average retailer, Scope 3 metrics capture emissions generated upstream and downstream within the value chains of every SKU it…
Scientists from the Sainsbury Laboratory Cambridge University and Jagiellonian University, Poland made the discovery while undertaking an evolutionary survey of the microscopic structure of wood from some of the world’s most iconic trees and shrubs. They found that Tulip Trees, which are related to magnolias and can grow over 100 feet tall, have a unique type of wood. This discovery may explain why the trees, which diverged from magnolias when earth's atmospheric CO2 concentrations were relatively low, grow so…
Q: What are the key questions guiding your work? A driving interest for me is how organizations can change for the better—to be more effective and desirable places to work. I’ve completed several research projects that look at how people who have expertise and knowledge, but not formal authority or positional power, can have their ideas heard and acted upon to improve how their organizations function. I’ve also done research…
A recent U.S. Supreme Court ruling gives companies more opportunities to challenge regulations, but they may face more regulatory uncertainty as well. David Zimmer July 30, 2024 Reading Time: 6 min Brian Stauffer In June 2024, the U.S. Supreme Court overturned the long-standing Chevron doctrine, fundamentally altering how businesses interact with federal regulations. The decision will almost certainly make it easier for companies to challenge agency regulations and other agency…
The study, published today in Nature Communications, showed that the incidence of arterial thromboses, such as heart attacks and strokes, was up to 10% lower in the 13 to 24 weeks after the first dose of a COVID-19 vaccine. Following a second dose, the incidence was up to 27% lower after receiving the AstraZeneca vaccine and up to 20% lower after the Pfizer/Biotech vaccine.The incidence of common venous thrombotic events…
31 July 2024By Stefan Gebauer, Thomas McGregor and Julian SchumacherCentral banks choose their words very carefully. And rightly so – policy makers’ wording can move markets and, eventually, the economy. This ECB Blog post shows how unexpected changes in communication influence growth and inflation.Central banks need to communicate clearly. This helps the public understand the rationale behind monetary policy decisions and shape market expectations. Their statements sometimes provide explicit forward…
Greece has held a prominent place in shipping for many decades. What makes this more significant is that the country’s considerable role on the international maritime stage is disproportionate to its size. The capacity of the Greek merchant fleet, at more than 5,000 vessels, makes Greece the largest shipowning nation, and its shipping sector (including ships that are Greek owned and Greek managed) collectively accounts for 20 percent of global…
Speaking at the Russian Foreign Ministry on June 14, 2024, Russian President Vladimir Putin revealed the key principles of the security architecture of Eurasia. The idea itself was voiced in the president’s message to the Federal Assembly on February 29. It is highly likely that it will become one of the supporting structures of the new Russian vision of security on the continent. The principles revealed by the president indicate…
Promoting business location sounds good to many. However, what the Confederation means by this may be surprising to some. After all, the primary focus is not on improving framework conditions to increase Switzerland’s competitiveness. Instead, a large proportion of the funding goes towards tourism and regional development. Parliament has allocated a total of CHF 429 million for the years 2024–27 – a 15 percent increase compared to the subsidies in…
John Engel says his tenure as CEO at Wesco International has been bookended by crises. After joining Wesco in 2004 as COO, he stepped into the CEO role in 2009 during the Great Recession. He says the company managed well through that period and has now come through one of the most challenging periods in human and business history with the COVID-19 pandemic. As an essential business, Wesco continued to…
Topics Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series subscribe-icon Subscribe Share Otto Steininger/Ikon Images “Is such-and-such innovation disruptive?” It’s a question I’ve been asked countless times. At a recent workshop, for instance, a participant I’ll refer to as Sue asked about “cultivated meat,” a broad term for meat that is produced in a laboratory. Some analysts have…
Into the Breach is the first law firm podcast exclusively devoted to reps and warranties insurance and the transactional risk markets. Hosted by Seyfarth partners Bryan M. O’Keefe and Gena B. Usenheimer, the hosts in their unique, buoyant style, interview leaders from the industry, and explore the latest developments, market trends, and news impacting RWI and transactional risk insurance. Follow us on: Into the Breach Podcast - Episode 34: New Opportunities in…
Microsoft Cloud Strength Drives Fourth Quarter ResultsREDMOND, Wash. — July 30, 2024 — Microsoft Corp. today announced the following results for the quarter ended June 30, 2024, as compared to the corresponding period of last fiscal year:· Revenue was $64.7 billion and increased 15% (up 16% in constant currency)· Operating income was $27.9 billion and increased 15% (up 16% in constant currency)· Net income was $22.0 billion and increased 10% (up 11% in constant currency)· Diluted earnings…
People might be more likely than ever to protest in reaction to a social problem or geopolitical crisis. But do such activist events, even large-scale demonstrations, change public opinion?New research shows that protests rarely change views or alter voting decisions, findings that could have important implications in an election year marked by widespread protests. Harvard Business School Professor Vincent Pons teamed up with Amory Gethin, a fellow economist at the…
In quick order: Are you familiar with wind speed and cruising speed and light speed? Well, we’re here to riff on another type of velocity. Let’s call it “AI speed.” Our definition of AI speed – sure to soon grace your favorite digital dictionary 😉– is the brisk rate at which AI is racing from big-city research labs to distant places where small businesses, everyday entrepreneurs and biologists are rapidly…
A Pyrrhic victory for the left The proportional European elections in June 2024 brought a clear victory to the National Rally (31%, versus just 14% for the President’s party), the main opposition force in France. This was already a very strong signal to abandon the EU at a time when the European Commission, with the support of Macron, was preparing to create a supranational European federal state. The French President…
In November and December, U.S. retail industry sales rose 3.8 percent compared to the year before. Economists seemed surprised by retail results defying expectations throughout much of 2023. Unfortunately, 2024 didn’t start quite as well. Since then, retail sales have shrunk by 0.8 percent (worse than market forecasts of a 0.1 percent decline). U.S. retail sales are facing their biggest decrease since March 2023, and while growth looks more promising after results…
Frontiers From ideation to user testing, large language models are allowing companies to explore more ideas and iterate faster. Tucker J. Marion, Mahdi Srour, and Frank Piller July 29, 2024 Reading Time: 8 min Topics Frontiers An MIT SMR initiative exploring how technology is reshaping the practice of management. More in this series Patrick George/Ikon Images As enterprises experiment with generative AI use cases, one promising area is emerging: incorporating…