The BoF Podcast | Vennette Ho on the Future of Beauty M&A At The Business of Beauty Global Forum 2024, Vennette Ho, managing director and global head of beauty and personal care at Financo Raymond James, shared insights on the evolving landscape of mergers and acquisitions (M&A) in the beauty sector. Joined by Imran Amed, […]
Is It Time for Supreme to Sell Out?
Supreme’s business model, built on drops and scarcity, is at a critical juncture. The recent sale of the New York-based brand to French-Italian eyewear powerhouse EssilorLuxottica for $1.5 billion highlights its shifting landscape. This deal comes as a markdown from the $2.1 billion that US apparel group VF Corp. paid for Supreme in 2020. VF […]
Is Luxury Finally Set for a Sustainability Reckoning?
Is Luxury Finally Set for a Sustainability Reckoning? Amid growing disillusionment with luxury brands, a series of Italian investigations linking major players like Dior and Armani to sweatshop labor is putting new pressure on the sector’s most powerful asset: brand image. MILAN, Italy — Midway through March, Italian police raided a factory complex on a […]
OpenAI considers developing own AI chip with Broadcom
Innovating Tomorrow: OpenAI and Broadcom’s AI Chip Ambition In the competitive landscape of artificial intelligence, OpenAI is charting new territory by contemplating the development of its own AI chip. Partnering with semiconductor veteran Broadcom, this strategic move aims to bolster OpenAI’s technological capabilities and control over its hardware infrastructure. The AI industry’s exponential growth continuously […]
Judge dismisses most SEC claims against SolarWinds
In a significant legal development, a judge recently dismissed the majority of the U.S. Securities and Exchange Commission (SEC) claims against SolarWinds, the software company targeted in a notorious Russia-backed cyberattack in 2020. This ruling marks a substantial win for SolarWinds, which faced allegations of misleading investors about its cybersecurity practices. The SEC had accused […]
Singapore blocks 95 accounts linked to exiled Chinese tycoon Guo Wengui
Singapore has taken a decisive step under the newly enacted Foreign Interference (Countermeasures) Act (FICA) by blocking 95 online accounts linked to exiled Chinese tycoon Guo Wengui. This action aims to prevent the spread of disinformation that could destabilize the nation’s interests and sovereignty. Guo Wengui, a controversial figure, has been a vocal critic of […]
MUFG penalises CEO and executives with pay cuts
In a notable move, Mitsubishi UFJ Financial Group (MUFG) has announced salary cuts for its CEO and five other top executives. This decision comes in response to violations of “firewall” regulations designed to prevent conflicts of interest between different divisions within the bank. The proactive approach by MUFG highlights the firm’s commitment to governance and […]
Analysis of cyber failure of CrowdStrike and Microsoft
On 19th July 2024, a significant computer failure emerged globally, with the notorious ‘blue screen of death’ suddenly appearing on numerous Microsoft computers. This cyber fiasco triggered a cascade of failures across critical sectors, with Australian users particularly hard-hit. Banks and the operations of Qantas experienced immediate disruptions, paralyzing financial transactions and flight services. As […]
Meta suspends AI use in Brazil amid privacy concerns
Meta, the giant behind Facebook and Instagram, halted the deployment of AI technologies in Brazil amidst intensifying privacy concerns. This move is instigated by Brazil’s data protection regulations, particularly the Lei Geral de Proteção de Dados (LGPD). The LGPD mandates robust user data safeguards, posing compliance challenges for companies leveraging AI. Meta’s decision underscores the […]
Musk’s Grok AI struggles with news accuracy
Elon Musk’s Grok AI, developed for the X platform, is currently facing significant challenges concerning news accuracy. The AI model encountered a notable failure following the alleged assassination attempt on Donald Trump, where it posted incorrect information and did not verify facts properly. Grok AI, an ambitious project aimed at transforming news delivery, has fallen […]
