Wealth
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Avoiding the 5 Common Pitfalls of Performance Management
“Performance management trap” is an old topic. As early as 2016, DDI Consulting Company released a research report “Reinvent Performance Management into a Leadership Process (Reinvent Performance Management into a Leadership Process)”. Performance management 5 trap: 1. The purpose of implementing performance management is not clear; 2. Let performance management carry too much weight; 3. Overly complex management procedures; 4. Insufficient attention to leadership skills; 5. Out of touch with the starting point of motivating employees. Before sharing the understanding and experience of the 5 traps of performance management, I would like to briefly explain the four components of the complete performance management system that I understand: one target management…
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Global Economic Outlook for Q3 2023 – Differentiated Recovery, Falling Inflation and Continued Risks
In the second quarter of 2023, the downward momentum of the global economy will slow down, and inflation will continue to fall, but the characteristics of recovery differentiation will become increasingly prominent. The global service industry has recovered steadily, and economies such as Europe and the United States, where consumption accounts for a large share of GDP, have performed better than expected. In stark contrast, the recovery of the global manufacturing and merchandise trade sectors is weak, and the growth of export-oriented economies such as Asia-Pacific is under pressure. Major central banks such as Europe and the United States continued to raise interest rates, the U.S. dollar index and U.S.…
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Berkshire Hathaway Reports Strong Second Quarter Results, Shares Hit Record High
On August 5, Berkshire Hathaway released its financial report for the second quarter of 2023. After the U.S. stock market continued to rise, Berkshire, the “stock god” Buffett at the helm, also achieved huge profits. Berkshire shares also hit an all-time high of $542,000 this week. Berkshire Hathaway Class A Stock Trends 0 1 Financial data improved substantially The overall performance of the US stock market in the second quarter was good. The S&P 500 index rose 8.3% in a single quarter, and the Nasdaq index rose 12.81%. Berkshire’s performance has also improved significantly. In the second quarter, Berkshire achieved revenue of US$92.503 billion, an increase of 21.4% from US$76.18…
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The Long Road to IPO: The Rise and Struggles of KK Group, MINISO’s Biggest Competitor
IT men do business with women and become business elites The biggest competitor of MINISO once again launched a charge to go public. Recently, KK Group, the parent company of KKV, a trend collection store brand, once again submitted a prospectus on the Hong Kong Stock Exchange. This is the third submission of the KK Group following the failure of the two submissions in November 2021 and January 2023. From the perspective of data, the revenue of KK Group has almost doubled in the past few years. From 2018 to 2021, the revenue of KK Group was 155 million yuan, 464 million yuan, 1.646 billion yuan and 3.524 billion yuan.…
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MosaicML Acquired for $1.3B, Major AI Startup Deals Kick Off
Recently, big data giant Databricks announced the acquisition of generative AI start-up MosaicML for US$1.3 billion (approximately RMB 9.4 billion). This acquisition, which took place in Silicon Valley, USA, is the largest announcement in the field of generative AI this year. attracted great attention from the industry. MosaicML was established in San Francisco, USA in 2021. It successfully completed the first round of financing shortly after its establishment. Well-known venture capital DCVC, Lux Capital, Future Ventures and other investment institutions participated. MosaicML received a total of 37 million US dollars in financing. At the time of the first round of financing, MosaicML was valued at US$220 million, but in this…
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The Involution of Weight Loss Drugs: Lessons from the Failure of Novartis’ MBL949
On the evening of July 18, Novartis announced its second quarter report for 2023, and its performance exceeded expectations, but a decision in the report was caught by many investors—due to the poor efficacy of the second phase trial, the company gave up the research and development of MBL949. MBL949 is a GDF15 receptor agonist and one of Novartis’ important weight loss drug pipeline assets. According to data, GDF15 can reduce people’s desire for high-fat diets and achieve weight loss by promoting muscle energy consumption; Johnson & Johnson has achieved some success in this target, while Eli Lilly has voluntarily terminated the development of GDF15 agonists. The failure of Novartis…
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The Rise of AI Drug Discovery: Insilico Medicine Leads the Way to Faster, Cheaper Pharma
Recently, the AI biotechnology company Yingsi Intelligence applied for listing in Hong Kong. Once the IPO is successful, the company will become the first domestic AI pharmaceutical company. With the generative AI platform Pharma.AI, Insilicon Intelligence can provide end-to-end efficient solutions in the pipeline development process, and rapidly advance the fully self-generated AIDD (AI Drug Discovery and Development) pipeline mainly composed of new drug candidates. Currently, using Pharma.AI, the company has established a diverse and fully internally generated pipeline of 31 projects covering 29 drug targets. Among them, there is one clinical stage asset of phase II study and two clinical stage assets of phase I study. Since the drug…
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Top 8 Business News for July 14, 2023
1 Chinese car companies welcome “technology export” German “Auto Weekly” disclosed on the 9th that German car company Audi plans to purchase electric platform licenses from Chinese car companies to shorten the development time of models. In response to this, Audi China said on the 11th, “As we all know, the Chinese auto market is undergoing the greatest period of change in history. Audi will join hands with all parties to formulate strategic guidelines and create a successful future together.” According to Audi’s official public data, from January to March 2023, Audi’s sales in China were 136,400 vehicles, a year-on-year decrease of 16%. According to the CarExpert website, Audi has…
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3 Major Troubles Threatening the Global Economy
European and American stock markets have indeed performed well, but troubles behind them have gradually emerged. According to Reuters, talks between UPS and the International Brotherhood of Truckers have stalled. A think tank specializing in the study of United Parcel Service (UPS) said that the UPS strike may be “one of the most expensive strikes in at least a century”, and the loss of 10 days of shutdown will be as high as 7 billion U.S. dollars (equivalent to nearly 50 billion yuan. Yuan). In addition, according to the “New York Times” report on July 13, the American Screen Actors Guild and the United Radio and Television Artists Union (SAG-AFTRA)…
