The Strategist
Management & Strategy

McDonald's to raise franchise fee for the first time in 30 years - 09/25/2023

The largest fast-food restaurant company in the world, US McDonald's Corp., has announced the first price hike for franchise owners in the US and Canada in 30 years, according to Barron's. In some circumstances, the commission will increase from 4% to 5% for those starting brand-new eateries or acquiring existing eateries from the corporation. The hike won't affect current franchise owners. All...

Goldman to offer investments in sports clubs - 09/18/2023

The Wall Street Journal reports that American bank Goldman Sachs Group is establishing a section of sports investments under its investment banking business. Rich clients will be able to invest in exclusive sports clubs, stadiums, and other projects through the new business, which combines sports M&A and sports finance. Luring these investors might involve collaboration with significant...

Citigroup to change organizational structure - 09/15/2023

Citigroup Inc. will fundamentally alter its organizational structure in order to simplify operations and connect the management structure with the bank's business plan. Five business lines' leaders will be promoted, and there will be fewer management levels, according to Citi's press statement. This should hasten decision-making, as well as enhance business unit monitoring and sharpen client...

Macy's appoints Olivier Bron as new CEO of Bloomingdale's - 09/13/2023

American retailer Macy's Inc. named Olivier Bron as the head of its department store affiliate Bloomingdale's, reports MarketWatch. Bron will take on his new responsibilities in early November after Tony Spring, who left Bloomingdale's in March to become president and CEO of Macy's after a 36-year career. Previously, Bron served as the Chief Operating Officer and Chief Strategy Officer at...

Chevron to ask arbitration panel to intervene in dispute with Australian unions - 09/12/2023

The Australian Arbitration Commission on Labor Relations (FWC) will be contacted by Chevron Australia, a subsidiary of the American Chevron Corp., to request intervention in the Gorgon and Wheatstone LNG strike, according to the Financial Times. According to Chevron's Australian subsidiary, there is no "reasonable prospect" of an agreement being reached with the site's employees. As a result, the...

Morgan Stanley to launch chatbot for wealthy clients - 09/08/2023

This month, US bank Morgan Stanley will introduce a chatbot powered by artificial intelligence to support wealthy clients. According to Reuters, the chatbot was tested over several months with hundreds of financial advisors. It was created in collaboration with OpenAI, the company behind the ChatGPT chatbot. Employees at the bank will use the chatbot to rapidly look up any necessary information...

Investor Michael Burry bets $1.5bn on Wall Street's fall - 08/18/2023

Michael Burry, who is known for foreseeing both the US mortgage crisis and the global financial crisis of 2008, is once more forecasting a market catastrophe in the near future. According to records submitted to the US Securities and Exchange Commission (SEC) by the investor, Burry has staked $1.5 billion that Wall Street will collapse before the year's end. Documents show that Scion Asset...

PayPal appoints new CEO - 08/15/2023

Alex Chriss has been appointed President and CEO of PayPal. The firm announced that Alex Chriss has been named President and CEO of PayPal, effective September 27, 2023. "PayPal Holdings today announced that Alex Chriss, a senior executive at Intuit, has been appointed president and CEO, effective as of September 27, 2023. As of that time, Chriss will also join the board of directors,"...

Twitter to change its logo - 07/24/2023

Elon Musk revealed the letter X on a black background as a potential future design. Elon Musk, the owner of Twitter, declared that the social network's logo would soon change. Musk posted on his page that "soon we will say goodbye to the Twitter brand and, gradually, to all birds." Additionally, he shared an expected future Twitter logo. It is an image of the letter X against a dark...

Deutsche Bahn to lay off 8,400 employees to cut losses - 07/14/2023

By the end of 2023, the company expects to incur losses totaling €225 million, according to the Handelsblatt newspaper. Deutsche Bahn (DB), a German railway company, may fire up to 8.4 thousand workers in order to reduce the costs of its losing division, reported Handelsblatt referring to claims made by corporate representatives. Joerg Hensel, president of DB's European Works Council, "up to...
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