Michael M. Santiago / Staff via Getty Images Peeyush Nahar, Goldman Sachs’ global head of consumer business, is leaving the bank and will take on an advisory role, Bloomberg reported Friday . Nahar, formerly Uber’s vice president of technology, was hired to lead Marcus in June 2021 — months after the consumer bank’s previous chief, Omer Ismail, and head of large partnerships, David Stark, left Goldman to join Walmart ’s nascent fintech startup. As it stands, Nahar’s departure comes a little more than a month after another executive, Swati Bhatia , who was listed as the head of Marcus and co-CEO of GreenSky, said she would retire from Goldman and serve as an advisory director. Access now➔ Fotolia Goldman launched a reorganization in October , splitting Marcus into two groups. The platform’s consumer-focused operations were placed under Goldman’s asset- and wealth-management unit, while a subset of Marcus’ business that deals with corporate clients went to Platform Solutions. That segment, which also includes Apple Card and home-improvement lender GreenSky, has lost roughly $4 billion since the start of 2020. Goldman executives have debated whether to publicly announce a 2025 target time frame for Platform Solutions to break even, people familiar […]

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Arizona Sen. Mark Kelly speaks at the annual Commercial Space Transportation conference on Feb. 9, 2023. Arizona Sen. Mark Kelly speaks at the annual Commercial Space Transportation conference on Feb. 9, 2023. Michael Sheetz | CNBC Arizona Sen. Mark Kelly, who flew to space four times over a 15-year career as an astronaut, praised the growth of the space industry and gave a rallying cry for intensified competition. “Some of the advancements are truly stunning; this has been a great success,” Kelly said, speaking at a luncheon during the Commercial Space Transportation conference in Washington, D.C., on Thursday. Kelly noted that the cost of sending satellites, people and cargo to orbit is currently “a fraction” of what it was when he flew on NASA’s space shuttle. He added that — while the industry’s growth is encouraging — companies building rockets need “to step up to the plate” and bring more “new launch vehicles to market faster and embrace renewed competition, not stifle it.” “We need more launch vehicles to continue to reduce the costs associated with getting a payload to orbit,” Kelly said. A Falcon Heavy rocket launches the USSF-67 mission on January 15, 2023 from NASA’s Kennedy Space […]

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Having a strong cash flow is imperative for any business to stay afloat. Without readily accessible cash, employees and vendors can’t be paid and the business will eventually collapse. Learning to track and ensure a dependable and balanced flow of incoming cash to meet expenses is Business 101. It’s not necessarily a simple task—some signs of cash-flow problems are obvious, but others aren’t. Still, it’s essential for a company’s owner and financial leaders to know and quickly address the signs that indicate they may be in danger of running out of ready cash. Here, 14 Forbes Finance Council members share some clear (and subtle) signs and give advice on how to right the ship. Members pictured from left to right. Photos courtesy of the individual members. 1. Your Fixed Costs Are Rapidly Increasing One of the obvious flags is when you see that fixed costs are increasing at a pace that is significantly higher than revenue. For example, in the last few years, we have seen tech companies aggressively increasing their workforces before reaching product-market fit. My advice is to optimize the usage of fractional services and the many resources offered by accelerator programs, including office space and expertise. […]

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Efforts Kicked Off Today with Briefings from Turkish and U.S. Ambassadors, AmCham Türkiye and USAID EU Expansion of Merger Control Regime Threatens Harm to Governments, Consumers, and Businesses WASHINGTON D.C. – The U.S. Chamber of Commerce Foundation today launched private-public coordination efforts to help the areas impacted by the earthquakes in Türkiye and Syria. This includes a corporate aid tracker currently showing pledges from the U.S. business community totaling more than $33.1 million. “At the U.S. Chamber of Commerce Foundation, we want to ensure we are focusing the private sector on the right problems to develop high-impact solutions to help survivors," said Marc DeCourcey, Senior Vice President, U.S. Chamber of Commerce Foundation. “We know that at this phase, cash donations are most helpful to on-the-ground humanitarian efforts, mitigating the unintended consequence of sending unsolicited in-kind goods. This situation is highly dynamic and needs will evolve. We are committed to sharing ongoing information and resources that support the business community’s important role in this response.” To support the earthquake response efforts, the Chamber’s Foundation and U.S.-Türkiye Business Council today united the business community, U.S. and Turkish Ambassadors, USAID, American Chamber of Commerce in Türkiye (AmCham Türkiye), and international non-government organizations […]

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File Graphic(MGN ONLINE) HEWITT, Texas ( KWTX ) – The owner of a Hewitt day care whose license was revoked by a state regulatory agency earlier this month is suing the agency, claiming her business was shut down without just cause. Shelia Brown, owner of Aspiring Future Leaders Academy, is suing the Texas Health and Human Services Commission. Her lawsuit, filed Wednesday in Waco’s 74th State District Court, seeks an injunction to block the revocation of her license and asks that her business at 119 N. Hewitt Drive be allowed to continue operating. According to a letter from the agency filed with the lawsuit, the day care poses “an immediate threat to children based on the operation’s abuse/neglect finding, the number and pattern of deficiencies and the operation’s failure to improve compliance and reduce risk to children despite the plan of action and probation.” The HHS issued a permitting license for the day care, which cared for about 75 children, in January 2018, placed it on probation for violations in July 2022 and revoked its license on Feb. 6, according to the lawsuit. The suit asks 74th State District Judge Gary Coley Jr. to issue an injunction that would […]

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Copy This Embed Code: Ad MILWAUKEE — Milwaukee businesses have already begun reaping the benefits as organizers dive deep into the planning stages to host the 2024 Republican National Convention. "This is like pinch me. Is this real," said Anne Zizzo, CEO and founder of Zizzo Group Engagement Marketing in Milwaukee. The MKE 2024 Host Committee, which is the force behind pulling off the RNC, chose Zizzo’s company to help with marketing and creating its new website. It is a critical tool to connect guests to information on the Brew City. "What we appreciated so much about the opportunity is they are the nonpartisan organization that is ultimately establishing every aspect of making sure that hosting this global event here in Milwaukee in July of 2024 is going to be perfect," Zizzo explained. Zizzo is eager to see other businesses shine during an event expected to spark economic impact as high as $200 million. "I have no doubt people will see what I love about the city in the area I grew up in," Zizzo said. It was 1995 when Zizzo started the business in her basement. At the same time, her father was terminally ill and she just […]

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China Business Law Journal has named PDSTI’s investment into ICON Aircraft and SINA Corporation’s privatisation-related Cayman proceedings among its Deals of the Year 2022. Gibson Dunn advised Shanghai Pudong Science and Technology Investment (PDSTI) and the Special Committee of SINA Corporation in connection with the matters. The full list was published on February 9, 2023. Gibson, Dunn & Crutcher’s Beijing office is dedicated to servicing the needs of our clients establishing operations and doing business in China and those of our Chinese clients in their international transactions. The Beijing office works closely with lawyers in our Hong Kong office, enabling us to provide Hong Kong law capability where relevant.

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Two men worked together and with others to receive money from COVID-19 relief programs by turning in fraudulent applications for inactive businesses. SPOKANE, Wash. — An Arkansas man, Tyler Andrews, and a former Spokane man, Yuriy Anischenko, were charged with 11 counts of fraud to obtain millions of dollars in COVID-19 relief funds for struggling businesses. According to documents the two men worked together and with others to receive money from COVID-19 relief programs by turning in fraudulent applications for inactive businesses. Anischenko received more than $300,000 from relief funds which he then shared with Andrews. Anischenko also recruited others to prepare and submit fraudulent applications. Court documents say that Andrews is also charged with three counts of Aggravated Identity. “COVID-19 relief programs quickly ran out of money due to the number of people and businesses that requested funding, which meant that some deserving small businesses could not obtain funding to keep their businesses open during the COVID-19 pandemic,” said U.S. Attorney Waldref. The fraud and conspiracy charges carry sentences up to 20 years in federal prison and the identity theft charges carry a 2-year mandatory sentence. HOW TO ADD THE KREM+ APP TO YOUR STREAMING DEVICE ROKU: Add […]

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A local minority-owned business and the West Des Moines Chamber of Commerce are working to help BIPOC businesses find support in the community. She’s been in business for five years and set up shop after feeling frustrated with the restraints corporate America places on Black women. "When I first started out, and being an entrepreneur, it was back in 2018, you know," Perry said. "I was just tired of the corporate world, not being able to go anywhere." As a female entrepreneur, she noted some of those barriers still exist "Starting a business, you don’t have the funding, you’re doing everything out of your pocket. And so it’s a lot of challenges with trying to get capital and moving yourself forward and trying to overcome all of the obstacles that are faced in the minority world," she said. President and CEO of West Des Moines Chamber of Commerce Katherine Harrington says the inequity for minority businesses is why the chamber holds an annual Athene Black and Brown Business Summit aimed to help entrepreneurs like Perry. "Everybody knows all the stats are out there. It’s a well known fact that they do not get the support they need," Harrington said. […]

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The steadfastness of India’s economy attests to the size and seeming strength of the country’s broader business landscape. Gautam Adani, the chairman and founder of the Adani Group.M. Scott Brauer for The New York Times When shares of the Adani Group, until recently India’s largest conglomerate, began their free fall late last month, shedding more than $100 billion in days, some observers worried that the collapse could bring down the country’s capital markets, and with them the Indian economy. That would be a frightening prospect not just for India but for the world. The country’s economy recently passed Britain’s to become the world’s fifth largest, and it is the only big one — China’s included — that has clocked strong and steady growth since pandemic restrictions were relaxed. But the fears of a broader market contagion have not come to pass. Indian equities as a whole enjoyed a calm week in Mumbai, the country’s financial center, and have held largely steady since the Adani collapse. India’s main market index is nearly 2.5 percent above where it stood a year ago, even as U.S. stocks have fallen by more than 4 percent during the same period. The steadfastness attests to […]

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