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The Latest Breaking News from Bain

Chinese police question staff of US consulting firm Bain

Incident comes after police last month raided Beijing office of US due diligence firm Mintz Group and detained staff.

Al Jazeera

Will the extraordinary boom in luxury goods ever end?

The rise of LVMH to become Europe’s first $500bn company illustrates the sector’s seemingly unstoppable growth

Financial Times

Chinese police query Bain's Shanghai office staff - company spokesperson

Chinese police have visited U.S. management consultancy Bain Company's office in Shanghai and questioned staff there, a company spokesperson said on Wednesday without elaborating.

Reuters

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How boards can make good on their DEI commitments

DEI and anything deemed “woke” has become a catchall bogeyman.

Fortune

LV= awards former boss £318,000 bonus despite widening losses

Mark Hartigan’s exit followed anger over attempt to arrange insurer’s sale to US private equity firm Bain Capital

The Guardian - UK

Asset managers turn to M&A

Wealth and asset management companies plan to use mergers and acquisitions (M&A) in both scale and scope this year to seize opportunities as the sector anticipates growth opportunities worth US$250 billion by 2030, a recent study found.

Bangkok Post

Bain Capital Ventures is debuting $1.9 billion in two new funds

Amid the challenging private market environment, the firm raised two new funds above their target size.

Fortune

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For generative AI and ChatGPT, the hunt for profits begins

The first winners in this money race will be the companies that own the underlying AI models.

Axios

China M&A Deals Plunged 34% to Nine-Year Low in 2022

Economic headwinds and pandemic disruptions similarly slowed global mergers and acquisitions, management consultant Bain reports

Caixin Global

Airlines turn market darlings as COVID-19 forces financial clean up

Unloved during the pandemic as their businesses were incapacitated almost overnight, airlines that cut back to survive the crisis are now blowing through profit forecasts and luring back investors.

Tribune News Service

Firms persist with M&A to expand

Mergers and acquisitions (M&A) will remain a key strategy for companies globally to expand markets and value chains amid increasing turbulence, according to a new report.

Bangkok Post

Young adults still living with their parents are driving the luxury boom

U.S. Census data shows that nearly half of all young adults aged between 18 and 29 live at home — the highest level recorded since 1940.

Fortune

Global luxury sales set to hit record this year, study says

Luxury spending is growing faster than ever, fueled by pent-up pandemic demand and shifting demographics as younger, more diverse consumers buy into tiny handbag and post-streetwear trends

The Independent UK

Will The Grinch Steal Christmas 2022?

Holiday shopping estimates vary widely, as rising prices and soaring interest rates empty consumer wallets.

Investors Business Daily

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The Guardian - UK

Ban Bain & Co from US government contracts, Joe Biden is urged

Labour peer calls on US president to follow UK in banning firm over misconduct in South Africa

The Conversation

State Capture eroded institutions in South Africa. How the revenue service is rebuilding itself

South Africa’s Revenue Service is one of many state institutions in South Africa that have been fingered in the Judicial Commission of Inquiry into State Capture. In addition, a special commission established to investigate internal governance at the agency found massive failures of governance. Professor Mills Soko spoke to Commissioner…

The Guardian - UK

Bain & Co barred from UK government contracts over ‘grave misconduct’ in South Africa

Global management consultancy’s three-year ban follows pressure by ex- Labour minister Peter Hain

Birmingham Post

LV= boss to step down seven months after failed Bain Capital sale

Mark Hartigan's departure comes after he faced calls to quit following the botched £530m deal

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news in one place.

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Axios

Virginia governor Glenn Youngkin explores 2024 presidential election run

The former Carlyle Group co-CEO turned Virginia governor could be setting up a replay of Mitt Romney's 2012 presidential run.

The Independent UK

Luxury market seen as growing in 2022 despite inflation, war

Neither inflation nor war in Ukraine seem to be threatening to take a bite out of the luxury fashion market

Benzinga

Dead Man Reawakening? Defunct Rise Education Reborn as EV Charging Company

Key Takeaways: Shares of the former Rise Education soared as it completed a reverse takeover merger with the electric vehicle charging business of Newlink The new company, NaaS Technology, provides software to help China’s growing legions of EV owners use the country’s vast charging network more efficiently

Benzinga

Analysts See Consumer Electronics Get Costlier As Major Chipmakers TSMC, Samsung, Intel Boost Prices

Benzinga

Toshiba Bags Interest From 10 Potential Investors: Reuters

Toshiba Corp (OTC:TOSYY) bagged interest from 10 potential investors after canvassing buyout offers, Reuters reports. The deadline for submitting non-binding proposals is May 30. Also Read: Toshiba To Weigh Deals To Go Private Long under pressure from activist shareholders, the Japanese conglomerate also announced a special dividend worth $545 million for the second…

Financial Times

Lex in depth: why the luxury market needs to hedge against China

A shift in spending habits in Asia and a crackdown on wealth by Beijing threaten a profit squeeze for high-end brands

Benzinga

Chindata Potentially Up for Sale as M&A Heats Up in China Data Centers

Key Takeaways: Data center operators GDS and EdgeConneX have reportedly expressed interest in making bids for Chindata Chindata’s control by U.S. private equity giant Bain and the recent departure of its founder may make it ripe for such a buyout By Doug Young

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