Market Watch

European transformation leaders share fresh perspectives based on their real-world experiences. A unifying principle to drive change and a structured approach to execute and sustain it can boost success. Transformation leaders and other C-suite executives around the world continue to pursue ambitious transformation programs for reasons that have remained consistent over time: they seek to unlock growth potential, accelerate the rate at which they innovate, improve customer experience, build new capabilities, and compete effectively in the future. But the past several years have been marked by sustained uncertainty and unprecedented volatility. Today’s transformation practitioners—each on their own journey and timeline—can draw upon the cumulative wisdom of the many leaders who have completed successful transformation programs and offer fresh perspectives for these challenging times. Against this backdrop, McKinsey recently convened a group of senior leaders in Europe who are currently engaged in transformation efforts, some on a global scale (see sidebar, “About McKinsey’s European Transformation Summit”). This article reflects the insights and experiences shared at the summit by practitioners in attendance. The summit offered an opportunity for these practitioners to discuss the current state of transformation, find common ground across industries, and glean insights to shape their paths forward. As […]

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Global employers often need to contend with determining whether federal, state and local employment laws, including equal employment opportunity (EEO) laws, cover their employees working abroad. Consider this hypothetical example: Employee X, a former employee of Company ABC, an American company with fifty employees in the U.S. and abroad, files an EEOC charge against Company ABC. Employee X worked for Company ABC in Germany. Company ABC is not entirely sure of Employee X’s citizenship status. Given that Employee X worked in Germany, Company ABC is surprised that it received the charge. The extraterritorial applicability of EEO laws rests on several factors. Both Company ABC and Employee X are evaluated to determine if: (i) Company ABC is covered by EEO laws and (ii) if Employee X is protected by EEO laws. Are EEO laws applicable to Company ABC? Legal Considerations: First, the EEOC will determine if Company ABC is considered a “U.S. employer.” Company ABC will be a U.S. employer if it is incorporated in the U.S., if it is based in the U.S., or if it has sufficient connections with the U.S. Assuming Company ABC falls within one of these three categories, the EEOC will then review Company ABC’s […]

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The Department of Energy recently announced up to $47 million in funding to accelerate the research, development, and demonstration of affordable clean hydrogen technologies. The funding , which is being administered by the DOE’s Hydrogen and Fuel Cell Technologies Office, is focused on the research, development, and demonstration of hydrogen delivery and storage technologies, as well as affordable and durable fuel cell technologies. Clean hydrogen, which is produced with zero or near-zero emissions, can play a role in reducing emissions from some of the hardest-to-decarbonize sectors of the economy, including industrial and chemical processes and heavy-duty transportation, but while hydrogen technologies have come a long way, costs and other challenges to at-scale adoption need to be addressed for clean hydrogen to realize its full potential, the DOE said. The DOE said the fuel cell projects should focus on applications for heavy duty trucks that have the potential to reduce carbon dioxide emissions and eliminate tailpipe emissions that are harmful to local air quality. The DOE said those efforts will work in concert with hydrogen-related activities funded by the Bipartisan Infrastructure Law, including the Regional Clean Hydrogen Hubs and an upcoming funding opportunity for research, development, and demonstration projects to […]

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Lorraine Boogich Royal Caribbean (NYSE: RCL ), Norwegian Cruise Line Holdings (NYSE: NCLH ), and Carnival Corp. (NYSE: CCL ) are all increasingly compelling investments into 2023, according to Citi analyst James Hardiman. “We believe cruise stocks as a group have graduated from ‘proxy trades’ to compelling long-term investment narratives, with both CCL (biggest turnaround/value opportunity) and NCLH (highest exposure to the premium consumer) offering compelling upside cases,” he wrote on Tuesday. “Unlike most of our coverage, the post-pandemic momentum of the cruise space clearly outweighs potential macro headwinds in 2023, with budding Asian and European narratives building into 2024.” Hardiman selected Royal Caribbean ( RCL ) as his top pick, with upside for both Norwegian and Carnival Corp. now more pronounced. While he trimmed his EPS forecasts for the group, he nonetheless raised his price target on Carnival to a range between $9 and $13. Read more on Hedgeye’s long call for Carnival .

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OTTAWA COUNTY — The Ottawa County Clerk’s Office announced Tuesday it was withdrawing from a nationwide initiative aimed at helping local election offices ensure election integrity. In November, Clerk Justin Roebuck announced Ottawa County was a finalist in the "Centers for Election Excellence," an initiative of the U.S. Alliance for Election Excellence. On Jan. 31, Roebuck walked that back, saying after the finalist announcement, the Alliance began releasing grant information indicating it intended to award significant private grant dollars directly to participating election offices. Upon learning that Ottawa County would receive $1.5 million it didn’t ask for — funded through private monies — Roebuck requested his office be withdrawn from consideration. "Some of the stuff we were talking about was really exciting and I applaud them for doing it," Roebuck told The Sentinel. Ultimately, Roebuck said he felt more comfortable receiving funding for initiatives if there was a need. He cited the example that the county’s election results website could be more user-friendly. "But $1.5 million just seemed excessive," Roebuck said. "We didn’t ask for that. Honestly, we were very surprised and we want people in it for the right reasons." The U.S. Alliance for Election Excellence, launched in […]

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"We are asking for a simplification or rationalisation and that it is easy to understand. It drives the ease of doing business. It is not that we are looking for a reduction in rates over there but there are so many different classes, we have so many different periods, rates and the more we simplify it, the easier it is for business to understand and follow." “We have competing markets which continue to grow, which continue to improve in their ease of doing business reduce cost of doing business. I just hope we see greater coordination between the Centre and the states because eventually investments come in the state and the better and tighter the coordination between the two will make a big difference on the ground,” says Sanjiv Bajaj , President, CII & CMD, Bajaj Finserv NSE -5.52 % . This is the last Budget that we are going to see from this term of the government. How optimistic are you that it is going to be growth oriented? I would say I am reasonably optimistic and it is comforting. What is reasonably optimistic on a scale of 1 to 10? I would say 7 7? Yes and […]

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Caterpillar shares are falling on mixed results. FX is cutting in the bottom line, but that headwind is subsiding. Capital returns and dividend growth is on track for 2023. There is good news and bad news in Caterpillar’s (NYSE: CAT ) Q4 results . Caterpillar shares are falling hard after the impact of FX was revealed to be greater than expected, that’s the bad news. The good news is that business is strong, growth is on the table, cash flow is robust, and capital returns are flowing. While near-term headwinds like valuation may weigh on the price action, this stock should find a bottom soon and might be closer than you expect. Share of Caterpillar broke out to new all-time highs in the first week of 2023, which is a very bullish signal. The previous all-time high near $245 is a very good candidate for strong support to kick in, and the outlook and capital returns are 2 good reasons to believe it will. Caterpillar Falls On Mixed Results Caterpillar, unlike dividend-payers Whirlpool (NYSE: WHR ) and United Parcel Service (NYSE: UPS ), reported mixed results and sent its shares moving lower. The difference is that Caterpillar, unlike the […]

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Capgemini and TCS are hiring for multiple job opportunities. Which opportunity will techies grab If you are in search of job opportunities in multinational companies then you are at the right place. The two top MNC companies Capgemini and TCS are hiring for multiple job opportunities. Which opportunity will techies grab? Capgemini Vs TCS which company are you going to choose? Here we have compiled a list of job opportunities in both the firms. Let us see briefly about each company and the job roles that are available in the firms. Capgemini Capgemini is one of the top MNC companies in the world and every fresher dreams to kickstart their career with Capgemini. Here we provide the list of current job opportunities in Capgemini. Role: Software Engineer Lead Location: Mumbai Roles and responsibilities: Must have knowledge of technologies like angular and java. The candidate must have experience in developing Angular 8 front-end development models using Agile Scrum way of working with JavaScript HTML CSS jQuery and JSON. Need to be well aware of OAuth 2.0 flow from a web client perspective. Need to integrate Java GIT Figma or similar design tools with Service endpoints such as Web sockets and […]

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Baron Funds, an investment management company, released its “Baron Real Estate Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here . In the fourth quarter, the fund rose 6.17% (Institutional Shares) compared to a 4.90% return for the MSCI US REIT Index (the “REIT Index”) and an 8.71% return for the MSCI USA IMI Extended Real Estate Index (the “MSCI Real Estate Index”). For 2022, the fund declined 28.44% compared to a 23.84% decline for the MSCI Real Estate Index and a 25.37% decline for the REIT Index. In addition, please check the fund’s top five holdings to know its best picks in 2022. Baron Funds highlighted stocks like Extra Space Storage Inc. (NYSE: EXR ) in the Q4 2022 investor letter. Headquartered in Salt Lake City, Utah, Extra Space Storage Inc. (NYSE:EXR) is a self-administered and self-managed REIT that provides convenient and secure storage units. On January 31, 2023, Extra Space Storage Inc. (NYSE:EXR) stock closed at $157.83 per share. One-month return of Extra Space Storage Inc. (NYSE:EXR) was 9.25%, and its shares lost 23.68% of their value over the last 52 weeks. Extra Space Storage Inc. (NYSE:EXR) has a market capitalization […]

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Initially, it may have seemed like the net-zero agenda could be off to a shaky start this year, certainly on the UK policy front, after Prime Minister Rishi Sunak failed to give the climate crisis a mention in his top five priorities for 2023 . However, it wasn’t long before Conservative MP, Chris Skidmore’s Mission Zero Independent Review of Net-Zero report – which labelled net-zero as the “economic opportunity of the 21 st century” – hit the headlines to remind government ministers, businesses and our wider society of the value and urgent need to scale up on climate action. Skidmore has urged government leaders to grasp the “historic opportunity” that net-zero can bring, pointing out that the UK is currently falling behind on some targets and that inconsistent and unambitious policies have resulted in missed opportunities for many businesses and households. Any further delay on climate action, he warns, will risk damaging the UK’s already precarious economic prospects and stifle key growth opportunities. The findings of this review stand in stark contrast to those net-zero sceptics across government and certain media outlets who last year tried to argue that net-zero policies could increase the financial burden on UK citizens […]

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