Hong Kong CNN — One of China’s top investment bankers has become unreachable, according to his company. China Renaissance, an investment bank and private equity firm based in Beijing, said in a Thursday filing to the Hong Kong stock exchange that it “has been unable to contact” Bao Fan, its chairman and CEO. Shares of the company plunged as much as 50% in Hong Kong on Friday following the news. The stock last traded 29% lower. “The board is not aware of any information that indicates that Mr. Bao’s unavailability is or might be related to the business and/or operations of the group,” the firm said in the filing. Bao is known as a veteran dealmaker in China’s tech industry. He helped broker the 2015 merger between two of the country’s leading food delivery services, Meituan and Dianping. Today, the combined company’s “super app” platform is ubiquitous in China. Bao started his investment banking career in the late 1990s at Morgan Stanley and Credit Suisse and later went on to serve as an adviser to the stock exchanges in Shanghai and Shenzhen. His team has also invested in US-listed Chinese electric vehicle makers Nio (NIO) and Li Auto, and […]

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Critical infrastructure Today’s columnist, Ilan Barda of Radiflow, offers four ways for security teams to better protect OT environments. (Photo by Jens Schlueter/Getty Images) The digital revolution has ushered in a new generation of streamlined manufacturing, operations, and logistics. But beware, this new world of connectivity brings with it great risk. Each new internet-connected device, whether it’s a large manufacturing robot or a small sensor, carries with it the burden of joining a local network in accordance with the latest cybersecurity practices. So putting too many roadblocks, such as limiting access via firewalls or making access so difficult it impedes productivity, potentially limits its ability to communicate freely with other devices or send critical diagnostic reports back to stakeholders. On one hand, manufacturing has now become the world’s most targeted industry according to IBM Security’s 2022 X-Force Threat Intelligence Index. On the other hand, the promise of greater business growth through connected devices has motivated many companies to continue forward while ignoring cybersecurity risks over plant efficiency and modernization. For the first time in five years, operational technology (OT) facilities are an even bigger target than the finance or insurance industries. We can attribute this to both taking advantage […]

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Parable Coffee was created out of necessity, co-founder Ben Willis said, to pay essential workers in the service industry as if they were in fact essential. The coffee shop opened its doors on South High Street downtown in June 2022 after operating as a popup out of Commune on Parsons Avenue. The shop came about in a unique partnership with the Columbus Downtown Development Corp., which also was formed out of necessity. Downtown retail shops were clobbered by the Covid pandemic, and now city leaders are working to support and diversify the segment. Today, the city and CDDC are piloting programs to support small business downtown, offering shops such as Parable discounted rent in the former Lazarus building. The CDDC also opened Common Thread last fall on South 3rd Street in a space that houses several fashion designers and retailers. CDDC President Amy Taylor said space was carved out of the parking garage originally built for the City Center mall, which, in its own way, was a symbol of downtown retail’s downfall when it closed. Today, creating a vibrant retail scene is a key priority in the new downtown strategic plan, approved by Columbus City Council last year. The […]

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David Kohl, Ph.D. agriculture economist, encouraged attendees in a recent presentation at the Northern Corn and Soy Expo in Fargo, North Dakota, to "get rid of toxic people" in their farm business. Kohl has traveled more than 10 million miles in his career, given more than 7,000 presentations and published more than 2,500 articles. “Get rid of toxic people,” David Kohl, Ph.D. and Professor Emeritus of Virginia Tech, said to a crowd of farmers and agribusiness professionals at the sixth annual Northern Corn and Soy Expo at the FargoDome on Feb. 14 in Fargo, North Dakota. Kohl was referencing his creamery business saving on payroll expenses during COVID and not seeing a reduction in productivity by getting rid of toxic people. Productivity stayed the same while payroll expenses were reduced significantly. “And those toxic people can be family!” Kohl followed up, with a roar of laughter from the agriculture crowd and in many of our minds listening in the crowd, we thought of specific situations in our own farms, ranches, and ag businesses. Kohl has traveled more than 10 million miles, given more than 7,000 presentations and published more than 2,500 articles in his illustrious career. He spent more […]

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Founder of Regenerate , a training firm focused on sustainable performance for high-pressure career professionals and fast-paced companies. getty Do the adages about leading and building a team that you heard while climbing the career ladder still apply in today’s modern workplace? When you’re managing knowledge workers, utilizing technology and leading in an always-on culture, the landscape is different. The needs are different. It stands to reason that the wisdom you need to lead successfully will be different as well. Leaders come into their role having internalized advice and feedback they heard as they advanced their careers. These commonly overheard leadership adages come from a good place but may deserve a second look. Are you living these principles the way you intend, or do they need detoxification? 1. ‘It’s the results that matter.’ As a leader, you may use this phrase to remind yourself to be flexible and use productivity as the most important measuring stick. • Do your actions back up this philosophy? They don’t if you’re reactive when you get a directive from a senior leader or if you still demand team members work set hours (or, even worse, if you track their screen time ). • […]

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Michael is a human resource consultant with Insperity . He specializes in team building, employee engagement and performance improvement. getty With data from the Bureau of Labor Statistics showing there were almost two job openings for every unemployed person in the U.S. in January, businesses planning for 2023 should be thinking about internal mobility, or the movement of employees within an organization. A strong internal mobility strategy can allow employees to seek out roles that align with their interests, contribute to an agile culture and create a competitive advantage. To design an effective internal mobility strategy, leaders should understand why internal mobility matters so much in 2023. In my experience, the answer lies in internal mobility’s impact on improving retention and engagement, lowering recruitment costs and encouraging innovation. Internal mobility can raise retention and engagement. Even with some major tech companies making layoffs, many businesses continue to cope with the impacts of the tight labor market. Those impacts include reduced employee retention and, in some cases, lower employee engagement, as many workers do not expect to stay in their roles for much longer. With an appropriate internal mobility strategy, leaders can combat both challenges. In an organization with low […]

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Co-Founder and CMO of Content Monsta , a digital marketing agency focused on multi-media content production and marketing strategy. getty Podcasting has become a popular marketing tool for businesses of all sizes, and for good reason. Podcasts offer a unique way to reach a targeted audience, establish authority in your industry and drive conversions. However, before starting a podcast, it’s important to understand the potential benefits and costs of starting a podcast for your business and clear your mind of the most common misunderstandings about podcasting for business. Misconception #1: Success is about reaching as many people as possible. Of the several factors to consider, the first and most important step is to understand the potential benefits that a podcast can bring to your business. A podcast can help you reach a new audience, generate leads and sales, and establish your brand as an industry leader. While not transactional or immediate, these benefits can be significant and should be taken into account when determining the potential return on investment (ROI) of launching a podcast. Because podcasting for business is about your brand, reaching low-value audiences for fame does not produce an ROI. Reaching the right audience does. Misconception #2: […]

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CEO at Jazo P.R. and an experienced publicist with extensive knowledge of the entertainment industry and the Gulf region. IMDB credits . getty At first glance, the Kingdom of Saudi Arabia (KSA) might seem like a place where everyone knows everyone—where anyone may be reached all the way to the top through a friend or a relative, and where there are few degrees of separation between people. As a result, it is common to perceive huge business opportunities are just within reach. They are often not. Much time, effort and resources are wasted in pursuit. The underlying reasons for this are many—mostly varying forms of a mismatch of expectations. Add to this the fast pace of change (the Saudi government is like a startup). Policies, positions and priorities seem to change on a daily basis. And with a culture that never says "no" to your face, it’s pretty easy to see how one may get stuck scratching their head at how it all works. However, with the right guidance through the government, business and cultural landscape, there is a world of opportunity to be had. Many business trips and stays in the KSA have made me realize I need […]

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Photo: ©GOPIXA – STOCK.ADOBE.COM VEVEY, SWITZERLAND — Nestle SA’s stock-keeping unit (SKU) rationalization program has evolved from a short-term initiative to a company-wide strategic priority. Management is committed to improving the business’ financial performance by doing more with less. Initially, Nestle sought to alleviate supply chain bottlenecks by reducing product line complexity. The goal was to ensure the fastest turning SKUs were on shelf as markets around the world emerged from the pandemic. “Once we started doing that, we saw there was tremendous promise in it, and we scaled it up and accelerated it quite a bit,” said Ulf Mark Schneider, chief executive officer, in a Feb. 16 conference call to discuss annual results. “And clearly, we noticed that we haven’t done that sort of exercise for a long period of time.” The focus has now shifted from individual SKUs in a line to brands, segments and geographies, according to the company. “In cases where we cannot sell a business, we’re not afraid of walking away from it as long as we do it right,” Mr. Schneider said. As an example, he pointed to Nestle’s pending withdrawal from the Canadian frozen food market. “This is a book of business […]

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DoorDash, Inc (NYSE: DASH ) reported fourth-quarter revenue growth of 40% year-over-year to $1.81 billion, above analyst estimates of $1.77 billion. DoorDash reported a loss of $(1.65) per share, higher than the $(0.68) consensus . One area of strength for DoorDash is certainly its loyalty business, DashPass. DoorDash had 15 million total loyalty members last year, three million more than Uber Technologies, Inc (NYSE: UBER ) Uber One loyalty program included ride-hailing and delivery , the Wall Street Journal reports . DashPass appears to more than compensate for free delivery programs via business volumes. DashPass members spent "significantly more." Uber One members spend more than four times what nonmembers do monthly, Uber confirmed. DashPass subscribers accounted for 65% of DoorDash’s gross food sales in January, WSJ wrote. DoorDash’s relative suburban focus continues to pay off over domestic competitors like Gopuff , Instacart , and Uber. DoorDash’s costly acquisition of Wolt in Europe also seems to add value. Wolt’s gross order value rose 50% Y/Y in Q4 to roughly €1 billion, implying Wolt has grown to about half the size of competitor Just Eat Takeaway’s Northern European business. This year’s guidance for total gross order value came slightly below Wall […]

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