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Luis de Guindos: Can our financial system support the green transition when the going gets tough?

19 November 2024By Luis de GuindosMeeting the EU’s climate neutrality targets calls for deep structural changes and significant private funding, requiring a healthy financial system. That’s why we’ve tested how resilient banks, investment funds and insurers are to stresses arising during the green transition. ECB Vice-President Luis de Guindos explains the findings.Achieving a carbon-neutral European Union by 2050 will require a resilient financial sector to provide the funding for the…

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GenAI Tools and Decision-Making: Beware a New Control Trap

Research Highlight Generative AI tools promise to help leaders make better decisions. But they may also cause trouble by nudging leaders toward a control-based style, research shows. J. Mauricio Galli Geleilate and Beth K. Humberd November 18, 2024 Reading Time: 8 min  As artificial intelligence technologies develop, managers are striving to reap the benefits. Today’s generative AI tools can aid managers in strategic decision-making and assist with problem-solving in a…

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Global Insurance Report 2025: Searching for profitable growth in commercial lines

This article is an in-depth analysis of commercial property and casualty insurers, one of three sections in the Global Insurance Report 2025.In an industry that revolves around reducing uncertainty for customers, commercial property and casualty (P&C) insurers are themselves confronting macroeconomic uncertainty across multiple fronts. Inflation has remained stickier than expected in many economies, while uncertainty persists around interest rate cuts. Consumer confidence is shaky even though the economic growth…

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The Third African Boom and Its Challenges

On November 18, the Valdai Club hosted a presentation of an analytical Paper titled “Russia – Africa: Overcoming Difficulties”. Oleg Barabanov, the moderator of the discussion, noted that relations between Russia and Africa are currently on the rise. Russia works with African countries in many areas, including political dialogue, economic cooperation, and cultural and humanitarian ties. However, the process of strengthening relations has not always proceeded smoothly. It is often…

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Global Insurance Report 2025: Finding profitable personal lines growth

This article is an in-depth analysis of personal property and casualty insurers, one of three sections in the Global Insurance Report 2025.The personal lines property and casualty (P&C) industry writes about a quarter of the world’s insurance premiums. It protects people and their loved ones wherever they are, every day. Yet that means the disruption consumers have faced globally in recent years—from a global pandemic to rising costs, the increasing…

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AI Tools That Modify Speech Have Downsides

Carolyn Geason-Beissel/MIT SMR | Getty Images At the annual TED Conference earlier this year, the room fell silent for the demonstration of a potentially groundbreaking technology: a “cone of silence” tool, currently in development, designed to block out all surrounding noise so conversation partners can hear only each other’s voices. While many of us in attendance were impressed by the simulated “quiet table” in a busy restaurant, I could only…

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Meet the Imagine Cup 2025 Idea round winners

The Imagine Cup is the premier global technology competition for student founders using AI to push the boundaries of innovation. The 2025 season has been off to a great start -- live events introduced the competition, various AI technologies, and Microsoft for Startups Founders Hub as part of the Student Innovator Series (you can tune in on demand!). Competitors also had the option of completing a Lean Canvas as an…

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When Cash Isn’t an Option, Consumers Lose Out

To many economists and policymakers, cash is a problem: cash transactions are harder to tax, it can be used by criminals, and those who keep their savings in it miss out on interest. Such concerns have driven recent arguments for demonetization, including a 2016 effort in India to remove some large-denomination banknotes from circulation. But for the consumers who use it, cash offers significant benefits: it is widely accepted, offers…

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Oxford establishes Ashall Professorship in Artificial Intelligence following Ashall donation

Professor Michael Wooldridge. Photo credit: Paul Wilkinson Photography. The University of Oxford has announced the establishment of the Ashall Professorship of the Foundations of Artificial Intelligence, following a donation from Michael and Hilary Ashall. The generous donation, matched by the University’s Endowment Challenge Fund, creates a significant investment that will fund the position in perpetuity.Professor Michael Wooldridge (Department of Computer Science), a leading researcher in artificial intelligence (AI), has been…

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What is biodiversity?

A male Eastern Bluebird perched on top of a mossy branch and set against a light blue background. Biodiversity refers to the full variety of life on Earth, from bacteria and plants to animals and entire ecosystems, such as mangrove forests or coral reefs. A wide range of flourishing flora and fauna species indicates an ecosystem’s overall health. Because biodiversity is critical to a number of industries—from pharmaceuticals to agriculture—there’s…

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Oxford launches new storytelling competition with management and production company, 42

The Oxford/42 New Writing Prize is looking for talented new voices in storytelling, and is open to aspiring novelists, playwrights, and screenwriters. The judges are interested in experimental writing as well as work that would appeal to a broad audience.The competition is open to anyone over the age of 18 living, working or studying in the UK and Ireland at the closing date for submissions. The winner will receive £1500…

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Cell therapy fights lethal childhood brain cancer in Stanford Medicine trial

An immune-cell therapy shrank children’s brain tumors, restored neurologic function and – for one participant in a Stanford Medicine clinical trial – erased all detectable traces of a brain cancer typically considered incurable.The trial, among the first successes against solid tumors for engineered immune cells known as CAR-T cells, offers hope for children with a group of deadly brain and spinal cord tumors, including a cancer called diffuse intrinsic pontine…

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INSEAD Insights: November 2024 Research Picks

Diverse research findings by INSEAD faculty this month include a new strategy that could help improve tax collection and a way of improving the safety and reliability of AI in healthcare. Other research looks at how taking part in standard-setting organisations (SSOs) can help technology companies get better at forecasting.Another study examines why IPOs featuring at least one female director might have been underpriced. Finally, new research explores how CEOs might be…

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Bridging Business and Government for a Better World

Wheelan was recently named faculty director of Tuck’s Center for Business, Government, and Society whose mission is to “empower business leaders to navigate immediate stakeholder interests and the broader, deeply intertwined interests of both governments and society to help build a more sustainable global economy and contribute to the common good.” With a background that spans academia, journalism, and public policy, Wheelan brings a unique perspective to his role at…

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Guidance Issued on Contraception and Other Medical Services Under Health Plans

Hush Naidoo Jade Photography, Unsplash Seyfarth Synopsis: The IRS recently published two notices which describe the tax treatment of amounts paid for condoms and expand the list of preventive care benefits permitted to be provided by a high deductible health plan (HDHP) without payment of a deductible. Notice 2024-71 – This notice provides that amounts paid for condoms will be treated as an expense for medical care under section 213(d) of…

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Can AI improve plant-based meats?

Cutting back on animal protein in our diets can save on resources and greenhouse gas emissions. But convincing meat-loving consumers to switch up their menu is a challenge. Looking at this problem from a mechanical engineering angle, Stanford engineers are pioneering a new approach to food texture testing that could pave the way for faux filets that fool even committed carnivores. In a new paper in Science of Food, the…

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More accessible yet less personal: The two sides of digital banking

As a PhD student studying finance at Columbia University, Naz Koont learned how the personal relationships bankers develop with their clients build trust and help sell products. At the same time, walking around her Morningside Heights neighborhood and throughout Manhattan, she noticed most of the bank branches she passed were empty. She wondered: Where were the customers and signs of these pivotal in-person relationships?Meanwhile, Koont watched classmates, friends, and other…

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New center unites Stanford’s robotics expertise under one roof

The basement beneath the Packard Electrical Engineering Building, once a hallway with researchers working behind closed doors, is now a bustling hub for collaboration. After many years of planning, fundraising, and development, the all-new Stanford Robotics Center officially opened its doors with a reception Nov. 1.The new facility is a bright, open, and vibrant space with a number of research bays arranged side-by-side. In one corner, a dancer pirouettes as…

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The NYC Safe Hotels Act Creates More Challenges For Non-Union Hotels

By: Paul Galligan On November 4, 2024, Mayor Adams signed Intro 0991-2024, also known as the Safe Hotels Act.  The Act will become effective 180 days after November 4th.  Initially proposed at the NYC Assembly in July 2024, the Safe Hotels Act created a lot of controversy with several hotel associations opposed to it, particularly because of the requirement that hotels in NYC directly employ hotel employees in “core” parts…

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Do employers have to let emotional support animals come to work?

Deborah Cullingford, who worked as a bailiff in Leeds for over 10 years, brought a claim against the Ministry of Justice for disability discrimination and harassment after being prohibited from bringing her dog, Bella, to work. Cullingford adopted Bella in 2020, finding companionship in her during the Covid pandemic. She told the tribunal that Bella had been the reason she “did not end her life when she felt depressed and…

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Delivering the strategy: The COO agenda

We’ve all heard someone say that something is “on” or “part of” the COO agenda. But all too often, what that means is unclear. Indeed, in a recent roundtable discussion, few COOs said that they had taken the time to think through and define their agenda. Part of the reason lies in how people become COOs. Most move into the role from a closely related operations position, making the transition…

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Harnessing AI to reshape consumer experiences in healthcare

In the rapidly evolving healthcare landscape, AI has the potential to reshape how consumers engage with medical services. Today, consumers in the United States can struggle with everything from finding the right insurance coverage to understanding when they should see a doctor, what it will cost, and how to manage their health. Many spend hours researching, conferring with friends and family, and calling providers and payers to find answers to…

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Massachusetts PFML Update: DFML Releases New 2025 Rate Sheets, Poster and Employee Notices

Seyfarth Synopsis: Employers must provide current employees with written notice of the 2025 contribution rates for the Massachusetts Paid Family and Medical Leave (PFML) program. Employees must receive notice of the 2025 contribution rates on or before December 2, 2024. The Department of Family and Medical Leave (DFML) has published updated Rate Sheets that includes the required information. The DFML has also issued an updated poster, as well as updated…

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Texas Federal Judge Strikes Down DOL’s New Overtime Rule

Quick Hits A federal judge in Texas struck down the DOL’s April 2024 overtime rule that sought to raise the minimum salary levels for the FLSA’s white-collar overtime exemption. The ruling comes in a challenge by the state of Texas and a group of more than a dozen business organizations. The DOL rule had raised the minimum salary level on July 1, 2024, to the equivalent of $43,888 per year,…

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China Brief: China Consumption – Momentum Amid Uncertainty

Since my last China Brief, consumption has gained momentum, particularly with the unveiling of a series of economic stimulus measures since September 24. The highly anticipated annual Double 11 Shopping Festival, which ended on November 11, well exceeded industry expectations, further fueling excitement among industry executives around the pickup in consumption.Despite this momentum, the uncertainty that has hovered over the Chinese economy and consumption over the past year, driven by…

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Outlook Post Trump Victory

The extent of the victory by former President Trump was not expected but financial markets have been discounting a Trump victory since the end of September. Some of the rise in US 10-year bond yields last month (from 3.79% to 4.28%) were a reflection of that trend. Trump’s policies, including tariffs on imports and the likelihood of lax fiscal policy, are seen as potentially inflationary. The dominant narrative in markets…

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Mexico’s Federal Government Initiates Process to Eliminate Autonomous Data Privacy Authority

Quick Hits The Mexican government is eliminating the National Institute for Transparency, Access to Information and Protection of Personal Data (INAI). The access to public information and the protection of personal data will no longer be overseen by an autonomous institution but by an agency within the executive branch of the federal government. There are many uncertainties that the government has not addressed, including how a ministry of the executive…

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Robert Chatwani on product-led sales, a new growth frontier

In this episode of McKinsey on Building Products, a podcast dedicated to the exploration of software product management and engineering, McKinsey partner Rikki Singh speaks with Robert Chatwani, president of growth at Docusign. Chatwani’s decades-long career has focused on the marriage of the marketing and growth functions to create more-compelling products. This discussion explores how to drive sustainable revenue growth and brand love through product-led sales. Singh and Chatwani explore…

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  • Reading time:17 mins read
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Is your organization healthy? Find out with this quiz

Organizational health is crucial to long-term performance, yet it is a moving target. For more than 20 years, McKinsey’s Organizational Health Index (OHI) has examined the practices and outcomes that lead to better health (exhibit). Through extensive research that yielded our latest OHI insights, we identified emerging and evolving trends in technology, worker motivation, talent strategies, and leadership styles, among other critical health factors. Test your knowledge below. Authoritative leadership…

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New York Legislature to Consider Amendment to the New York Retail Worker Safety Act

Quick Hits The New York governor’s office is discussing with the state legislature a possible amendment to the New York Retail Worker Safety Act, and it is anticipated that the legislature will vote on potential amendments in January 2025. Anticipated amendments include reducing the frequency of workplace violence training for employers with fewer than fifty employees, issuing training templates in English and the twelve most common non-English languages in New…

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Study uncovers earliest evidence of humans using fire to shape the landscape of Tasmania

A team of researchers from the UK and Australia analysed charcoal and pollen contained in ancient mud to determine how Aboriginal Tasmanians shaped their surroundings. This is the earliest record of humans using fire to shape the Tasmanian environment.Early human migrations from Africa to the southern part of the globe were well underway during the early part of the last ice age – humans reached northern Australia by around 65,000…

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Four Oxford academics receive ERC Synergy Grants to address complex scientific problems

Four Oxford University academics are to co-lead ambitious new research projects backed by European Research Council (ERC) Synergy Grants, part of the EU’s Horizon Europe research and innovation programme. Synergy Grants foster interdisciplinary and international collaboration between outstanding researchers, enabling them to combine their expertise, knowledge, and resources to push the boundaries of scientific discovery. This year, 57 research projects were awarded a Synergy Grant out of 548 submitted proposals,…

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The Myth of the Sustainable Consumer

Tania Yakunova/Ikon Images Sustainability has become a powerful driver of consumer behavior. People are changing what they consume, how they consume, and how they lead their day-to-day lives, motivated by a concern for sustainability. Our research has identified a consumer-driven megatrend that holds tremendous strategic opportunity for companies if they change how they think of consumer preferences for sustainable options.The belief that there is only one type of sustainable consumer…

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PAGA Paraphrased — Rodriguez v. Lawrence Equip., Inc.

Seyfarth Synopsis: The Second District again held that issue preclusion barred plaintiff’s PAGA claim because he failed to establish any violation of the Labor Code and arbitral findings have a preclusive effect on a plaintiff’s standing in a stayed PAGA claim.    The Second District again grappled with the issue of whether an arbitrator’s previous adjudication of Labor Code violations preclude a plaintiff from asserting a PAGA claim based on…

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Prospective Employees May Sign Louisiana Noncompete Agreements if They Contain an Effective Date During Employment

Quick Hits In 2022, the U.S. Court of Appeals for the Fifth Circuit in Rouses Enterprises, L.L.C. v. Clapp, held that Louisiana law does not allow an employer to enforce a noncompete agreement signed by a prospective employee. In Gallagher & Co. v. Annison, the Louisiana Court of Appeal, First Circuit, distinguished Rouses and held that noncompete agreements signed by prospective employees are enforceable where the agreements contain an effective…

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OSC short-selling prosecution dismissed

The Ontario Capital Markets Tribunal (the CMT) dismissed the Ontario Securities Commission (OSC) prosecution in Re Cormark Securities Inc. The CMT held that the OSC “failed to prove any of its allegations”, that the transactions in issue were not an illegal distribution, and that the respondents’ conduct did not engage the CMT’s public interest jurisdiction. The CMT’s decision contains helpful guidance for market participants on a number of issues. BLG…

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Your CEO thinks HR is operational, not strategic?

Do these comments resonate with you?  Owners don’t understand that we’re not just paperwork. HR is a punching bag expected to resolve everyone’s mess. There’s no HR budget, no support, and a team of 2 for 300+ employees. Even after a workforce survey, leadership still won’t listen to me!   It’s been 15 years of delivering webinars to an HR audience totalling hundreds of thousands of people. And I hear…

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Relations between Russia and South Africa at the Current Stage

On the other hand, the current partners of the ANC in the ruling coalition embrace, as noted above, pro-Western and/or right-wing political views. In order to maintain unity within the coalition, certain compromises between the ANC and its partners in the government cannot be ruled out, including on foreign policy issues.In this regard, the question of whether it is possible to adjust the foreign policy of South Africa after the…

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The cybersecurity provider’s next opportunity: Making AI safer

The rapid advancement of AI and generative AI (gen AI) is fundamentally transforming the cybersecurity landscape, presenting both opportunities and challenges for cybersecurity providers. As more organizations in both the private and public sectors use AI to enhance their operations, they risk inadvertently introducing new cyber-related threats. This is creating a significant and growing demand for advanced cybersecurity solutions. AI is also being used by bad actors as a tool…

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