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Klaviyo, a leading CRM platform, is leveraging customer insights to drive its growth strategy. Chief financial officer Amanda Whalen emphasises the importance of understanding customer needs, saying: “Building a world-class finance organisation starts with deep business understanding.” The company has seen a 22% year-on-year revenue increase, attributed to its focus on customer engagement and strategic investments. Amidst economic uncertainties and tariff threats, Klaviyo continues to innovate and expand, ensuring it remains a key player in the market. Whalen advises finance professionals to balance strategic thinking with detailed operational understanding, highlighting the significance of team development in achieving long-term success.

 

Forbes

Antonio Filosa will become Stellantis' CEO on June 23, succeeding Carlos Tavares, who resigned in December after declining profits and sales. Filosa, who has led the company's North American division since October and briefly served as global Jeep chief, is tasked with rejuvenating Stellantis' U.S. performance and rationalizing its 14-brand portfolio. The board unanimously supported his appointment, citing his “proven track record of hands-on success during his more than 25 years in the automotive industry.” Despite this, investors remain divided. Some argue his limited U.S. experience may hinder transformative change, while others, like AcomeA SGR’s Fabio Caldato, praise his operational strengths and cultural savvy for U.S. negotiations.

 

Reuters

Rémy Cointreau has named Franck Marilly as its chief executive as the business navigates a global downturn in alcohol sales and trade tensions between its two biggest markets, China and the U.S. Mr Marilly, who has worked in luxury and cosmetics groups including Chanel, Unilever, and Shiseido, will take office on June 25th, replacing Eric Vallat, who resigned earlier this year after more than five years in charge. "We are convinced that he will bring a new dynamic and will be able to confidently address the new challenges of the group's growth", Remy Cointreau chairperson Marie-Amelie de Leusse said in a statement.

 

Bloomberg

Financial Times

Reuters

McKinsey has cut more than 10% of its staff in the past 18 months in an indication of sharply slowing revenue growth across the broader consulting market, the FT reports. The cuts include 1,400 back-office staff, but a large number of underperforming consultants were put under pressure to leave the company during mid-year performance reviews in 2024, the paper reported.

 

Financial Times

Personnel Today

Approximately 3,000 machinists at Pratt & Whitney in Connecticut have ratified a new four-year contract, concluding a three-week strike focused on wages, job security, and other concerns. Nearly three-quarters (74%) of union members voted in favour. The contract, effective until May 2029, includes a 6% wage increase in the first year, followed by raises of 3.5% in 2026 and 3% in both 2027 and 2028. Wayne McCarthy, president of Local 700, said: “This agreement includes real gains for our members and proves what we can accomplish when we stick together.” The deal also ensures continued operations at the East Hartford and Middletown plants through 2029.

 

U.S. News

Hudson's Bay Co. plans to lay off 89% of its workforce by Sunday, following its liquidation sale and closure of all stores. The company, Canada's oldest retail chain, is struggling with declining foot traffic and online competition. The remaining 1,017 employees will assist with winding up the company under Canada's Companies' Creditors Arrangement Act. Hudson's Bay's brand assets were purchased earlier this month by Canadian Tire Corporation for C$30m ($21.5m), while its leases are being taken over by British Columbia-based billionaire Ruby Liu.

 

Financial Post

CBC News

Reuters

Elon Musk has voiced his discontent with President Donald Trump's tax bill, stating it undermines his efforts to reduce government spending. In an interview with CBS News, Mr. Musk expressed disappointment, saying, “the massive spending bill... increases the budget deficit, not just decreases it," and arguing that it "undermines the work that the DOGE team is doing." In the interview, to be broadcast in full on CBS Sunday Morning at the weekend, he added: “I think a bill can be big or it can be beautiful. But I don’t know if it can be both. My personal opinion.”

 

USA Today

Bloomberg

CBS News

QVC Group is reportedly working with advisers from Evercore and Kirkland & Ellis to evaluate how to manage some of its debt of $5.6bn. Holders to a unit of the company are also consulting with financial and legal advisers from PJT Partners and Davis Polk & Wardwell, according to Bloomberg. “While the impacts are being felt across retail, we are particularly challenged as linear television viewership continued to decline, and tariff volatility strongly impacted consumer sentiment in discretionary retail", chief executive David Rawlinson said earlier this month, when the company issued a first-quarter earnings report showing a 10% decline in group revenue to $2.34bn.

 

Bloomberg

Home prices nationally rose 3.4% in March from the year prior, according to S&P CoreLogic Case-Shiller data published by S&P Dow Jones Indices on Tuesday. Of the 20 metropolitan areas tracked by the index, price trends slowed in 19 compared with February’s annual reading, with the New York metropolitan area being the exception. Prices in New York rose 8% from one year prior, an acceleration compared to February’s 7.8% reading. “Limited supply and steady demand drove prices higher across most metropolitan areas, despite affordability challenges remaining firmly in place,” explained Nicholas Godec, S&P Dow Jones Indices’ Head  of Fixed Income Tradables & Commodities.

 

Barron's

DoorDash is raising $2bn from the sale of convertible bonds, following its announcement of the acquisitions of Deliveroo and SevenRooms for $3.9bn and $1.2bn respectively. The company plans to use the proceeds for acquisitions, buybacks, and hedging transactions related to the deals. DoorDash is marketing the new security with a coupon of 0% to 0.25% and a conversion premium of 37.5% to 42.5%. 

 

Bloomberg

Salesforce has announced its acquisition of Informatica for approximately $8bn, marking a significant return to major mergers and acquisitions after a period of inactivity. The move is driven by pressure from activist investors seeking improved profitability. The deal, which involves a $25 per share payment - 30% above Informatica's closing price prior to the announcement - aims to enhance Salesforce's data management capabilities as it intensifies its focus on artificial intelligence. Salesforce has already secured over 1,000 paid deals for its AI platform, called Agentforce, which automates routine tasks. However, the acquisition may face antitrust scrutiny due to overlapping services with the company's MuleSoft platform.

 

Reuters

HUMAIN, the Saudi Arabian artificial intelligence startup backed by the country's Public Investment Fund, is to launch a $10bn venture capital fund this summer, targeting companies across the U.S., Europe, and parts of Asia. HUMAIN’s expansion strategy includes establishing 1.9 gigawatts of data center capacity by 2030, with plans to scale up to 6.6GW within four years. Chief executive Tareq Amin also confirmed that HUMAIN is in ongoing discussions with prominent US tech players, including OpenAI, Elon Musk’s xAI, and venture capital firm Andreessen Horowitz, regarding potential equity partnerships. Since its launch, HUMAIN has signed deals worth $23bn with US tech giants, including Nvidia, AMD, Amazon Web Services, and Qualcomm. 

 

Arab News

Financial Times