The document discusses trends in mergers and acquisitions (M&A) activity globally and regionally in Q3 2015. Key points include:
- M&A activity in the first half of 2015 was one of the strongest on record, driven by a surge in US deals fueled by economic factors.
- However, political and currency risks in Europe are weakening confidence for M&A deals among European companies.
- The document predicts that overall M&A activity will remain similar to Q2 levels in Q3 based on these factors.
The Deloitte M&A Index is a forward-looking indicator that forecasts future global M&A deal volumes and identifies the factors influencing conditions for dealmaking.
Measuring the return from pharmaceutical innovation 2015Deloitte UK
Our sixth annual study estimates the returns that leading life sciences companies might expect to achieve from their R&D investments, looking at the challenges they face while highlighting lessons that can be learned.
The Deloitte M &A Index Q4 2015 infographicDeloitte UK
The Deloitte M&A Index is a forward-looking indicator that forecasts future global M&A deal volumes and identifies the factors influencing conditions for dealmaking.
The Deloitte M&A Index is a forward-looking indicator that forecasts future global M&A deal volumes and identifies the factors influencing conditions for dealmaking.
The overall measure of consumer confidence increased by three percentage points in Q3 to -5, a five year high and its largest increase quarter-on-quarter.
2016 Financial Services M&A Predictions: Rising to the challengeDeloitte UK
This year’s Financial Services M&A Predictions report explores the key drivers of M&A activity going forward, specifically market disruption and technology; consolidation and growth; and regulatory change. Looking at recent M&A activity, the report predicts how these trends will impact M&A across the whole spectrum of financial services in 2016.
The 2013/14 season’s financial results for the Premier League are the most remarkable in over 20 years of compiling our Annual Review, which documents the business and commercial performance of English professional football as well as a selection of the top leagues across Europe.
UK government is in the middle of a decade-long recalibration as the public sector aligns to a lower level of public spending. While the first half of this decade has been characterised by austerity and cost reduction, the next half should focus on aspiration and redesign as public sector leaders across the UK shape a more focused state.
The Deloitte M&A Index is a forward-looking indicator that forecasts future global M&A deal volumes and identifies the factors influencing conditions for dealmaking.
Measuring the return from pharmaceutical innovation 2015Deloitte UK
Our sixth annual study estimates the returns that leading life sciences companies might expect to achieve from their R&D investments, looking at the challenges they face while highlighting lessons that can be learned.
The Deloitte M &A Index Q4 2015 infographicDeloitte UK
The Deloitte M&A Index is a forward-looking indicator that forecasts future global M&A deal volumes and identifies the factors influencing conditions for dealmaking.
The Deloitte M&A Index is a forward-looking indicator that forecasts future global M&A deal volumes and identifies the factors influencing conditions for dealmaking.
The overall measure of consumer confidence increased by three percentage points in Q3 to -5, a five year high and its largest increase quarter-on-quarter.
2016 Financial Services M&A Predictions: Rising to the challengeDeloitte UK
This year’s Financial Services M&A Predictions report explores the key drivers of M&A activity going forward, specifically market disruption and technology; consolidation and growth; and regulatory change. Looking at recent M&A activity, the report predicts how these trends will impact M&A across the whole spectrum of financial services in 2016.
The 2013/14 season’s financial results for the Premier League are the most remarkable in over 20 years of compiling our Annual Review, which documents the business and commercial performance of English professional football as well as a selection of the top leagues across Europe.
UK government is in the middle of a decade-long recalibration as the public sector aligns to a lower level of public spending. While the first half of this decade has been characterised by austerity and cost reduction, the next half should focus on aspiration and redesign as public sector leaders across the UK shape a more focused state.
The Deloitte M&A index is a forward-looking indicator that forecasts future
global M&A deal volumes and identifies the factors influencing conditions
for dealmaking. The Deloitte M&A Index has an accuracy rate of over 90%
dating back to Q1 2008.
Global Capital Confidence Barometer | In an age of M&A complexity, do you pau...EY
The Global Capital Confidence Barometer gauges corporate confidence in the economic and M&A outlook, and identifies boardroom trends and practices in the way companies manage their Capital Agendas — EY framework for strategically managing capital. It is a regular survey of senior executives from large companies around the world, conducted by Euromoney Institutional Investor Thought Leadership (EIITL). Our panel comprises select global EY clients and contacts and regular EIITL contributors.
June 2017 - The 2017 edition of the OECD Business and Finance Outlook focuses on ways to enhance “fairness”, in the sense of strengthening global governance, to ensure a level playing field in trade, investment and corporate behaviour, through the setting and better enforcement of global standards. This presentation by OECD's financial markets expert Adrian Blundell-Wignall shows key findings from the publication. Find out more here http://www.oecd.org/daf/oecd-business-and-finance-outlook-2017-9789264274891-en.htm
This Review offers policy recommendations to improve the legal, regulatory and institutional framework for capital markets in Croatia in a way that will foster a resilient and dynamic business environment, help realise the potential of Croatian corporations and give households better opportunities to diversify their long-term savings.
The latest Regus Business Confidence Index shows that global business confidence remains steady; mature economies are showing confidence gains; and emerging economies have tempered their outlook somewhat. But no-one in business is letting a confidence uplift divert them from a continued focus on efficiency gains.
Read and follow the top economic indicators for Vietnam, M&A activity, and major developments in finance, banking, and legal. Published Monthly with contribution from LNT & Partners Law Firm.
In this edition of Valuation Insights we discuss retention incentives that are expected to become more mainstream under the new Trump Administration. The article discusses recent high profile cases, such as United Technologies recently announced deal to retain Carrier Corporation's furnace manufacturing facility in Indiana. The most common retention incentives are discussed in the article as well as best practices to improve your prospects for securing them.
Other Topics Covered Include:
• Goodwill impairment trends as highlighted in the Duff & Phelps 2016 U.S. and European Goodwill Impairment Studies • Duff & Phelps' Fifth Annual Transaction Trail Report on M&A and Capital Markets Activity in Southeast Asia • Delaware Chancery Court Case which utilized the Duff & Phelps Valuation Handbook Series as support for its conclusion that the respondent's expert's analysis was more reliable.
Etude PwC "Cash for growth" sur le BFR (2014)PwC France
http://bit.ly/AmeliorationBFR
L’étude "Cash for growth" de PwC analyse les performances des entreprises sur l'optimisation de leur BFR. PwC a passé en revue les comptes de 7 368 entreprises à travers le monde, et calcule le montant total de cash qu'une efficacité accrue permettrait de libérer.
Every month, Atradius brings you an up to the minute snapshot report on a range of export markets and key trade sectors. Our underwriters have a specialist view of the world economy – and the industries that make that economy tick - that you won’t find in the general press coverage of events.
Even more importantly, our underwriters use their expertise and experience to look to the future. In each edition of Atradius Market Monitor you’ll find our outlook for a number of key market economies.
In this issue…
…we feature the following markets:
The Netherlands – with a spotlight on construction and transport industry sectors
Spain – with a spotlight on construction and automotive industry sectors
United States of America
Belgium
Austria
Ireland
Poland
Indonesia
EY French Venture Capital Barometer - 1st semester 2016EY
The EY French Venture Capital Barometer surveys equity financing deals for start-ups and early-stage businesses, announced prior to July 25 2016, with a deal date from January 1 to June 30 2016.
The Deloitte M&A index is a forward-looking indicator that forecasts future
global M&A deal volumes and identifies the factors influencing conditions
for dealmaking. The Deloitte M&A Index has an accuracy rate of over 90%
dating back to Q1 2008.
Global Capital Confidence Barometer | In an age of M&A complexity, do you pau...EY
The Global Capital Confidence Barometer gauges corporate confidence in the economic and M&A outlook, and identifies boardroom trends and practices in the way companies manage their Capital Agendas — EY framework for strategically managing capital. It is a regular survey of senior executives from large companies around the world, conducted by Euromoney Institutional Investor Thought Leadership (EIITL). Our panel comprises select global EY clients and contacts and regular EIITL contributors.
June 2017 - The 2017 edition of the OECD Business and Finance Outlook focuses on ways to enhance “fairness”, in the sense of strengthening global governance, to ensure a level playing field in trade, investment and corporate behaviour, through the setting and better enforcement of global standards. This presentation by OECD's financial markets expert Adrian Blundell-Wignall shows key findings from the publication. Find out more here http://www.oecd.org/daf/oecd-business-and-finance-outlook-2017-9789264274891-en.htm
This Review offers policy recommendations to improve the legal, regulatory and institutional framework for capital markets in Croatia in a way that will foster a resilient and dynamic business environment, help realise the potential of Croatian corporations and give households better opportunities to diversify their long-term savings.
The latest Regus Business Confidence Index shows that global business confidence remains steady; mature economies are showing confidence gains; and emerging economies have tempered their outlook somewhat. But no-one in business is letting a confidence uplift divert them from a continued focus on efficiency gains.
Read and follow the top economic indicators for Vietnam, M&A activity, and major developments in finance, banking, and legal. Published Monthly with contribution from LNT & Partners Law Firm.
In this edition of Valuation Insights we discuss retention incentives that are expected to become more mainstream under the new Trump Administration. The article discusses recent high profile cases, such as United Technologies recently announced deal to retain Carrier Corporation's furnace manufacturing facility in Indiana. The most common retention incentives are discussed in the article as well as best practices to improve your prospects for securing them.
Other Topics Covered Include:
• Goodwill impairment trends as highlighted in the Duff & Phelps 2016 U.S. and European Goodwill Impairment Studies • Duff & Phelps' Fifth Annual Transaction Trail Report on M&A and Capital Markets Activity in Southeast Asia • Delaware Chancery Court Case which utilized the Duff & Phelps Valuation Handbook Series as support for its conclusion that the respondent's expert's analysis was more reliable.
Etude PwC "Cash for growth" sur le BFR (2014)PwC France
http://bit.ly/AmeliorationBFR
L’étude "Cash for growth" de PwC analyse les performances des entreprises sur l'optimisation de leur BFR. PwC a passé en revue les comptes de 7 368 entreprises à travers le monde, et calcule le montant total de cash qu'une efficacité accrue permettrait de libérer.
Every month, Atradius brings you an up to the minute snapshot report on a range of export markets and key trade sectors. Our underwriters have a specialist view of the world economy – and the industries that make that economy tick - that you won’t find in the general press coverage of events.
Even more importantly, our underwriters use their expertise and experience to look to the future. In each edition of Atradius Market Monitor you’ll find our outlook for a number of key market economies.
In this issue…
…we feature the following markets:
The Netherlands – with a spotlight on construction and transport industry sectors
Spain – with a spotlight on construction and automotive industry sectors
United States of America
Belgium
Austria
Ireland
Poland
Indonesia
EY French Venture Capital Barometer - 1st semester 2016EY
The EY French Venture Capital Barometer surveys equity financing deals for start-ups and early-stage businesses, announced prior to July 25 2016, with a deal date from January 1 to June 30 2016.
Etude PwC sur les fusions-acquisitions en Chine (fév. 2015)PwC France
http://bit.ly/Fusacq-Chine-CP
Dans son étude annuelle sur les fusions-acquisitions impliquant au moins un acteur chinois, le cabinet d’audit et de conseil PwC constate qu’en 2014, les fusions-acquisitions chinoises (en volume ou en valeur) ont progressé de 55%. Toutes les catégories d’investissement - investissements stratégiques en Chine, transactions financières, opérations chinoises à l’étranger - sont en très forte croissance.
Les statistiques de cette étude sont réalisées à partir de données de Thomson Reuters, ChinaVenture et des statistiques PwC. Thomson Reuters et China Venture compilent des statistiques de fusions et acquisitions basées sur des transactions annoncées. Les statistiques peuvent varier dans la mesure où Thomson Reuters et China Venture actualisent constamment leurs données, et certaines transactions n’aboutissent pas.
Companies are increasingly focused on high-quality strategic transactions, with less time spent on investigating peripheral opportunities, according to our annual tracker of business leader M&A intentions.
Deloitte India: The beginning of new M&A sessionaakash malhotra
Learn about the changes that mergers and acquisitions are undergoing in the present era with Deloitte India. See More : https://www2.deloitte.com/ie/en/pages/finance/articles/the-beginning-of-a-new-MA-season.html
Breakfast Forum: The Current State of the Capital Markets 2015BoyarMiller
As part of its ongoing Breakfast Forum series, BoyarMiller gathered industry experts for a panel discussion on the Current State of the Capital Markets. Speakers included:
• Drew Kanaly, Kanaly Trust – Equity & the Public Markets
• Colt Luedde, GulfStar Group – Private Equity and M&A
• Brandon Annett, Texas Capital Bank – Commercial Banking & Real Estate Lending
Mercer Capital's Value Focus: Venture Capital | Mid-Year 2016Mercer Capital
Mercer Capital's Venture Capital newsletter provides perspective on some of the most relevant market trends affecting venture capital firms and other financial sponsors.
BDO Breakout Session: 2014 Texas A&M Retailing Summit Gordon Porter
Ted Vaughan and Bob Snape, President of BDO Capital Advisors, presented on the topic of strategic growth opportunities and M&A activity in the retail sector at the 2014 Texas A&M Retailing Summit.
Etude PwC sur les fusions-acquisitions chinoises (2014)PwC France
http://pwc.to/1hkWHMb
Selon la dernière étude du cabinet d’audit et de conseil PwC, le montant des opérations de fusions-acquisitions impliquant au moins un acteur chinois a atteint un niveau record de 260 milliards de dollars en 2013, en hausse de 28 %, avec 43 transactions supérieures à 1 milliard de dollars, contre 30 en 2012. Le nombre de transactions a enregistré une forte progression sur les six derniers mois de l'année, avec une augmentation de plus de 40 % par rapport au premier semestre.
Grow + Sell Your Business Part Three: Practical Tips To Facilitate a TransactionKegler Brown Hill + Ritter
Presented by Eric Duffee and Michael Shaw, Copper Run Capital, on 10/17 as part of a Four Part Series. This segment of the series offered 8 clear steps to follow in pursuit of facilitating a successful transaction. It covered areas such as securing your assets, awareness of current market trends, a visual analysis of our current market update, and surrounding yourself with the right team.
The State of the Venture Capital Industry is an annual report produced by TrueBridge Capital Partners highlighting the trends in venture fundraising, investing, valuations, exits, and performance.
All data sourced from Thomson Reuters, VentureSource, CB Insights, PitchBook, and Cambridge Associates.
Welcome to a milestone edition of the Deloitte Football Money League (‘DFML’). Every year, DFML profiles the financial performance of the highest revenue generating clubs in world football. This year’s edition is a landmark publication for more reasons than one, as it marks 25 years of DFML and covers the first season (2020/21) to be impacted by COVID-19 from start to finish.
Welcome to a milestone edition of the Deloitte Football Money League (‘DFML’). Every year, DFML profiles the financial performance of the highest revenue generating clubs in world football. This year’s edition is a landmark publication for more reasons than one, as it marks 25 years of DFML and covers the first season (2020/21) to be impacted by COVID-19 from start to finish.
Rarely has there been more uncertainty regarding the course of the public finances over the next five years. In this note we aim to answer some of the big questions for the economy in light of the 2021 budget.
Rarely has there been more uncertainty regarding the course of the public finances over the next five years. In this note we aim to answer some of the big questions for the economy in light of the 2021 budget.
We estimate that those clubs in this year’s Money League will have missed out on over €2 billion of revenue across the 2019/20 and 2020/21 seasons. This is primarily driven by matchday revenue, due to the absence of fans, but also rebates to broadcasters and some commercial impacts as well as the lost potential to continue their previous growth trajectory over the period.
We estimate that those clubs in this year’s Money League will have missed out on over €2 billion of revenue across the 2019/20 and 2020/21 seasons. This is primarily driven by matchday revenue, due to the absence of fans, but also rebates to broadcasters and some commercial impacts as well as the lost potential to continue their previous growth trajectory over the period.
We estimate that those clubs in this year’s Money League will have missed out on over €2 billion of revenue across the 2019/20 and 2020/21 seasons. This is primarily driven by matchday revenue, due to the absence of fans, but also rebates to broadcasters and some commercial impacts as well as the lost potential to continue their previous growth trajectory over the period.
The 2018/19 season saw English and European football reach new record levels of revenue generation. This snapshot of the peak before the impact of the COVID-19 pandemic also includes some warning signs for the challenges to come.
Generating record revenue of €841m, Barcelona reach the top of the Money League for the first time, becoming the first club to break the €800m barrier. Overall, the 20 highest earning football clubs in the world generated a record €9.3bn (2018: €8.3bn) of combined revenue in 2018/19, an increase of 11% on the previous year.
UK corporate environment - November 2019Deloitte UK
1. Macro environment - Global economy set to grow at slowest pace since 2010 this year, and remain below trend in 2020. UK growth to remain soft this year and next. Brexit and geopolitical uncertainty loom large.
2. Momentum – UK avoided recession in Q3, business investment declining, manufacturing activity soft, household spending holding up but slowing.
3. Operating costs – cost pressures due to tight labour market but may loosen as firms pull back on hiring. Commodity prices and rental values soft. Credit conditions expected to tighten.
4. Corporate stance – risk appetite near lowest level since 2008, focus on cost reduction, deleveraging and increasing cash flow.
5. Balance sheet – cash rich, credit still relatively cheap and easily available but signs of tightening, profits falling.
6. Risks – effects of Brexit and weak domestic demand, rising global geopolitical risk and protectionism also a worry for large UK corporates.
1. Global slowdown underway
2. Impact of trade tensions greater and more prolonged than expected
3. Exports, manufacturing and investment worst hit
4. Central banks have responded with rate cuts and QE
5. Monetary easing has supported equities, recovering after a sell off in August
6. Consumers remain key driver of activity
7. Slow growth to continue, risks tilted to the downside
1. Macro environment - Global growth slowing, particularly in Europe. UK growth expected to be 1.2% this year but Brexit risks loom large.
2. Momentum - business investment declining, household spending holding up on strong wage growth.
3. Operating costs – expected to rise due to tight labour market, wage growth close to a 11-year high. Commodity prices up 12.5% ytd.
4. Corporate stance – risk appetite lowest since 2008, focus on cost reduction and increasing cash flow.
5. Balance sheet – cash rich, credit cheap and easily available, pockets of debt risk in ‘cov-lite’ sectors, profits falling.
6. Risks – effects of Brexit and weak domestic demand, rising global geopolitical risk and protectionism also a worry for large UK corporates.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
US lead the M&A surge, but confidence hits European dealmakers
1. The Deloitte M&A Index Q3 2015
US lead the M&A surge, but confidence
hits European dealmakers
Contacts
Iain Macmillan
Head of UK M&A
020 7007 2975
imacmillan@deloitte.co.uk
Sriram Prakash
Head of M&A
and Growth Insight
020 7303 3155
sprakash@deloitte.co.uk
2. The Deloitte M&A Index
Key points
• The first half of 2015 has emerged as one of the strongest for MA, with more than $1.8 trillion
worth of deals announced globally, a 22% increase over H1 2014.US corporates are leading this
surge fuelled by a strengthening dollar, low funding costs and strong earnings.
• Growth markets are making an impact and in 2014 for the first time outbound MA from
growth markets into G7 countries surpassed inbound MA from the G7 into those markets,
with China leading the way. The recent Chinese IPO boom is expected to boost MA activity
by publicly-listed companies.
• However, in Europe despite favourable credit conditions and strong corporate earnings, political
and currency risks are weakening confidence among European companies.
• Taking these factors into consideration, the Deloitte MA Index predicts that MA activity in
Q3 will remain at a similar level to Q2.
• We expect market conditions to remain favourable and boards to continue reorganising to pursue
growth. Our analysis shows that over the last six years, 63 of the FTSE 100 companies had replaced
their CEO. A key aspect of this reorganisation is a shift towards CEOs whose skills could be more suited
to pursuing growth and MA opportunities.
4. Confidence crisis hits European corporate ambitions
Figure 2. Domestic and cross-border European MA deal values
($bn), 2012-15 YTD*
Discloseddealvalues($bn)
Domestic deal values
Outbound deal values
Inbound deal values
0
200
400
600
800
1,000
1,200
2015 YTD201420132012
Source: Deloitte analysis based on data from Thomson One Banker
*2015 YTD as at 23 June 2015
597
417
646
201
44
232
206
220
97
118
122
181
• The European Commission is forecasting 1.5 per cent
growth in the euro area in 2015, the highest since 2011.
This positive outlook is mirrored by strong corporate
sector earnings that will further benefit from potential
increases in exports due to the weakening euro.
The European Central Bank’s quantitative easing
programme is resulting in a decline in yields of euro
denominated bonds and an increase in asset valuations
of European companies. This in turn is prompting
European businesses to sell to overseas acquirers.
So far this year $201 billion worth of inbound deals
have been announced, almost surpassing the
$220 billion announced during the whole of 2014.
• With the euro depreciating by 18 per cent against the
dollar since the beginning of 2014, it has become more
expensive for European companies to make overseas
acquisitions. So far this year only $44 billion worth of
outbound deals have been announced by European
companies, much lower than the $206 billion in 2014.
• Against this backdrop, political risks in Europe have
also heightened, and together with currency pressures,
are dampening corporate confidence for acquisitions.
5. A surge in US MA
• In past editions, we highlighted that while global
indices were hitting record highs, annual revenue
growth for their constituent companies is challenged,
putting CEOs under pressure from investors.
• SP 500 non-financial constituent companies had
$1.62 trillion in cash reserves for the year 2014.
The free cash flow yield for the SP 500 was 5.22%,
the dividend yield 2% and the Bloomberg USD corporate
bond yield 3.11%. Current funding conditions and cash
positions should give potential acquirers the confidence to
do MA, since they can fund acquisitions by borrowing
at favourable rates and service debt payments using
free cash flow.
• There has also been a rise in activist shareholders,
who are putting pressure on boards to pursue growth
or give cash back to shareholders. Meanwhile some
companies are taking more aggressive measures while
pursuing MA and we are seeing an increase in hostile
deal announcements. So far this year $240 billion
unsolicited deals have been announced globally, the
highest levels since 2007.
SP 500 FCF yield
Bloomberg USD High Yield Corporate Bond Yield
Bloomberg USD Investment Grade Corporate Bond Yield
SP 500 dividend yield
Figure 3. SP500 FCF and dividend yields and Bloomberg corporate bond
yields, 2010-15 YTD
Cash reserves of non-financial constituents of the SP500 ($bn), 2010-14
Source: Deloitte analysis based on data from Bloomberg
0%
2%
4%
6%
8%
10%
20142013201220112010
2010 2011 2012 2013 2014
$ $ $ $ $$1,308 $1,424 $1,612 $1,624$1,178
6. China’s IPO boom could fuel MA
• China is in the midst of an unprecedented IPO boom
and recent developments such as the launch of the
Shanghai-Hong Kong Stock Connect are creating
windows for Chinese companies to tap into the
institutional investor market. Increasingly these
companies are using the IPO proceeds to pursue
their MA ambitions. So far this year almost 40 per
cent of international acquisitions were done by
publicly-listed companies, the highest percentage
for the last five years.
• A slowing Chinese economy is spurring companies
to seek growth through overseas acquisitions.
Chinese companies have announced $42.4 billion
worth of overseas deals, of which publicly-listed
companies accounted for $25.6 billion, outpacing
private sector companies for the first time.
Source: Deloitte analysis based on data from Thomson One Banker
Disclosed deal values ($bn)
Figure 4. Chinese outbound MA deal values by status of acquirer,
2012-15 YTD
Outbound MA transactions by Chinese public companies ($bn)
Outbound MA transactions by Chinese private companies ($bn)
0
10
20
30
40
50
2015
YTD
201420132012
Number of Chinese IPOs, 2012-15 YTD
2152012
2014
255
114
2062015 YTD
2013
7. CEOs background and corporate appetite for MA
• One of the consequences of the global financial crisis was the realignment of many boardrooms. Deloitte analysis
shows that since 2009, 63 of the FTSE 100 companies replaced their CEOs. At the beginning of 2009, only 45 per cent
of FTSE 100 CEOs had a financial background. This increased to 52 per cent in 2012 in the middle of the recovery when
financial prudency was required. As market conditions started improving, CEOs with a more diverse set of skills were
being recruited and CEOs with a financial background has fallen back to 47 per cent.
• The changing skills of CEOs has had an impact on corporate attitudes towards MA. In the last six years, FTSE100
companies spent an estimated $430 billion on acquisitions, and the CEOs with a non-financial background accounted
for $291 billion, which represents two-thirds of total spending.
Figure 5. Total MA spending by constituents of FTSE100 ($bn) and background of CEOs of FTSE100 companies, 2009-15 YTD
Source: Deloitte analysis based on data from Thomson One Banker, Bloomberg and BoardEx
63companies
have changed
their CEO
since 2009
2014-15
YTD
50%
50%
CEOs without
financial
background
$135.1
bn
$47.4
bn
CEOs with non-financial backgrounds
accounted for two-thirds of total
spending on MA in the last six years
CEOs with
financial
background
2012-13
$50.1
bn
$40.2
bn
8. MA trends in geographies
• So far this year more than $1.8 trillion worth of deals have
been announced, compared to $1.5 trillion in H1 2014.
This was result of a surge in dealmaking by North American
companies, who accounted for 50 per cent of the
announced deals globally. However, there has been a 6 per
cent decline in global MA volumes compared to H1 2014.
• There has also been a sharp pick up in Asia – so far
$535 billion worth of deals have been announced by
Asia-Pacific acquirers, compared to $384 billion in
H1 2014.
• Europe is fast becoming the preferred destination for
inbound MA investment. So far this year $433 billion
worth of deals have been announced, of which
$147 billion were from North American companies,
representing 73 per cent of all cross-border investment
into Europe.
• In contrast, European companies have been less active as
acquirers and have announced only $276 billion worth of
deals, representing a global share of just 15%, which is
down from 27% in 2014. European outbound MA into
North America has fallen dramatically and only $30 billion
worth of deals have been announced so far in 2015 as
compared to $156 billion for the whole 2014.
Source: Deloitte analysis based on data from Thomson One Banker
Figure 8. Global deal values by region of acquirer and target ($bn),
2014-15 YTD
H1 2014 H2 2014 2015 YTD
0
200
400
600
800
1,000
South
America
North
America
EuropeAsia-Pacific
Africa/
Middle East
0
200
400
600
800
1,000
Disclosed deal values by region of acquirer ($bn)
Disclosed deal values by region of target ($bn)
9. Spotlight on growth markets: Rebalancing the MA flows
• In 2014, for the first time cross-border outbound
MA investment from growth markets into G7
countries exceeded G7 outbound MA investment
into growth markets. Last year growth market companies
announced $45 billion worth of deals into G7 countries,
whereas companies from G7 countries announced only
$37 billion worth of MA deals into growth markets.
This trend is continuing in 2015 and to date nearly
$29 billion worth of deals have been announced by
growth market companies in G7 countries, whereas
only $19 billion of outbound deals were announced by
G7 in growth markets.
• While China is the most active growth market
dealmaker, we can expect to see more deal flows
from countries such as India, Mexico and Turkey in
future. Growth markets will continue to offer growth
prospects, such as ASEAN Economic Community (AEC)
which aims to integrate the region economically and
create the world’s seventh largest economy.
Note: The G7 comprises of Canada, France, Italy, Germany, Japan, UK and US.
The growth markets are defined as: Brazil, China (incl. Hong Kong), Czech Republic,
Egypt, Hungary, India, Indonesia, Malaysia, Mexico, Morocco, Peru, Philippines,
Poland, Russian Federation, South Africa, Taiwan, Thailand, Turkey, Saudi Arabia,
United Arab Emirates. We define growth markets as countries referenced in
The Economist as emerging markets in 2012.
Source: Deloitte analysis based on data from Thomson One Banker
Figure 6. MA transactions flows – G7 vs growth markets ($bn),
2007-15 YTD
0 20 40 60 80 100 120020406080100120
2015 YTD
2014
2013
2012
2011
2010
2009
2008
2007
G7 advanced economies
outbound deal values into the
growth markets
Growth markets outbound deal
values into the G7 advanced
economies
28.7
44.6
22.1
34.9
30.9
40.9
18.8
21.2
44.1
98.0112.2
65.1
39.0
57.8
67.8
48.5
55.1
36.5
Disclosed deal values ($bn)
10. MA sector trends
• So far in 2015 more than $1.8 trillion worth of deals
have been announced. This surge has been led by the
Life Sciences and Healthcare (LSHC) and the Telecoms,
Media and Technology (TMT) sectors. In the TMT sector,
$434 billion worth of deals have been announced, an
increase of 44 per cent over H1 2014. TMT is followed
by the LSHC sector, where $304 billion of deals have been
announced, an increase of 37 per cent over first half of
2014.
Source: Deloitte analysis based on data from Thomson One Banker
Figure 9. Global deal values by target sector ($bn), 2014-15 YTD
H1 2014 H2 2014 2015 YTD
0
50
100
150
200
250
300
350
400
450
Technology,
Mediaand
Telecoms
Real
Estate
Professional
Services
Manufacturing
Life
Sciencesand
Healthcare
Financial
Services
Energy
Resources
Consumer
Business
Discloseddealvalues($bn)
11. Spotlight on pharmaceutical MA
• The combination of challenging economic conditions
and sector dynamics is driving the surge in healthcare
MA. Some of the key drivers include the rebuilding of
drug portfolios and the disposing of non-core operations.
In addition, companies are consolidating to mitigate the
expected cost pressures from governments and insurers
and improve their operational efficiency.
• So far in 2015, $200 billion worth of acquisitions have
been announced involving pharmaceutical companies,
the highest H1 figure for well over a decade. This includes
two hostile deals worth $77 billion announced earlier
this year.
• The current MA wave is likely to continue until major
pharmaceutical companies fully align their portfolios and
trim their product lines. Once the cycle is complete, we
expect companies will pursue smaller deals with more
innovative deal structures such as venturing to tap into
the opportunities brought by the convergence in some
parts of the healthcare, insurance and technology sectors.
Disclosed deal values ($bn)Deal volumes
Source: Deloitte analysis based on data from Thomson One Banker
Figure 10. Total volumes and values of MA involving pharmaceutical
companies ($bn), 2000-15 YTD
Deal volumes Deal values ($bn)
0
150
300
450
600
750
900
2015YTD
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
0
50
100
150
200
250
300