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McKinsey, a leading consulting firm, is facing internal challenges as its top leader, Bob Sternfels, narrowly survives an attempt to unseat him. The firm's governance structure, which allows partners to choose their leader every three years, has come under scrutiny as dissatisfaction among partners is revealed. McKinsey has faced criticism for misjudging future demand for its services and has been working to repair its reputation following scandals. Despite these challenges, the demand for high-end consulting services remains strong. Sternfels, a 30-year veteran of the firm, will begin his second and final term in July. [Extracted from the article]

During a Senate Judiciary Committee hearing, tech CEOs, including Mark Zuckerberg of Meta Platforms, faced criticism from senators who argued that social media platforms should bear more legal liability for harm caused to children online. Senators shared stories of sexual exploitation and suicide linked to social media platforms, with some referencing The Wall Street Journal's reporting on the dangers to children. While lawmakers acknowledged the limitations of their legislative response, they highlighted the wave of lawsuits filed by parents and state attorneys general seeking to hold platforms accountable. The hearing also addressed issues related to data protection and encryption on social media platforms. [Extracted from the article]

Google is implementing changes to how companies track users online by eliminating cookies, a technology used by advertisers to target users with relevant ads. The changes, which will be rolled out gradually, have been met with resistance from marketers, advertising-technology companies, and web publishers who feel that Google has not adequately prepared the market for the transition. While Google's efforts aim to improve user privacy, some industry executives believe that the elimination of cookies will have a negative impact on the overall value of online advertising. [Extracted from the article]

Netflix is considering ways to generate revenue from its gaming division, according to sources familiar with the discussions. Currently, Netflix games are free for all subscribers, but the company is exploring options such as in-app purchases, charging for more sophisticated games, or offering games with ads to subscribers of its ad-supported tier. This potential shift in strategy marks a departure from Netflix's previous stance of avoiding ads or in-app purchases in its games. While the number of users downloading Netflix games remains small, the company's gaming strategy is a long-term bet, with plans to create console-quality games in the future. [Extracted from the article]

McKinsey & Co., a prominent consulting firm, has reduced the size of its new partner class by approximately 35% compared to the previous year. Around 250 individuals will become partners in early 2024, down from the 380 named in 2022. This decrease reflects the impact of economic conditions on the demand for high-priced consultants. McKinsey, along with other top consulting firms, experienced a surge in demand during the pandemic but has since faced challenges due to corporate overhead reductions and a slowdown in the economy. Despite these changes, McKinsey is still expected to achieve mid-single-digit percentage growth in revenue this year. [Extracted from the article]

Instagram's algorithm for its Reels video service has been found to deliver toxic and inappropriate content to adults who follow children on the platform, according to tests conducted by The Wall Street Journal. The content served to test accounts included sexualized videos of children, explicit adult content, and ads from major brands. The algorithm also recommended disturbing content after the test accounts followed users who engaged with sexual content related to children. Meta, the parent company of Instagram, has stated that the tests do not represent what billions of users see and that it has introduced new brand safety tools to give advertisers more control over where their ads appear. [Extracted from the article]

Sam Altman, former president of OpenAI, will be joining Microsoft to lead a new advanced artificial intelligence research team. Altman's bid to return to OpenAI was unsuccessful, as the board that fired him did not agree to the proposed terms of his reinstatement. Microsoft CEO Satya Nadella expressed commitment to the partnership with OpenAI and stated that Altman and Greg Brockman, OpenAI's co-founder and former president, will lead the team at Microsoft. The situation at OpenAI remains tumultuous, with employees in an uproar and several researchers threatening to quit unless Altman returned. [Extracted from the article]

The Nasdaq Composite experienced a significant decline, falling 2.4% and entering correction territory, due to a steep drop in shares of technology companies such as Alphabet and Amazon.com. The S&P 500 also fell 1.4%, reaching its lowest level since May. The recent volatility in the stock market, particularly in the tech sector, has raised concerns among investors about the susceptibility of megacap tech stocks to sharp swings. Additionally, the bond market has experienced significant turmoil, with the yield on the 10-year Treasury note rising to 4.952%, the highest in 16 years. [Extracted from the article]

A Wall Street Journal review has found that a potential weight-loss drug called retatrutide, developed by Eli Lilly, is already being sold online, despite still being years away from regulatory approval in the US. The drug is being offered by hundreds of merchants, many of whom are Chinese sellers shipping directly to US consumers. Some websites, including those based in the US, have marketed the drug through social media platforms and paid advertisements. The FDA has issued warning letters to websites selling knockoff versions of other weight-loss drugs, but the sale of retatrutide highlights the thriving gray market for unapproved weight-loss medications. [Extracted from the article]

Elon Musk's social media platform, X Corp., is facing challenges in moderating content related to the recent conflict between Israel and Hamas. The platform has struggled with misidentified videos, fabricated information, and violent content. Experts believe that X is in a precarious position due to Musk's reduction of content and safety policy jobs and increased reliance on volunteers for fact-checking. The platform has been criticized for failing to rapidly remove graphic and violent posts. X, along with other social media platforms, has been urged by a top EU official to detail their plans for tackling illegal content and disinformation. [Extracted from the article]

Keywords: gfx-contrib; wsjlifework; wsjcorp; Market Research/Public Relations; Public Relations; Advertising/Marketing/Public Relations; Business/Consumer Services; Corporate/Industrial News; SYND; WSJ-PRO-WSJ.com EN gfx-contrib wsjlifework wsjcorp Market Research/Public Relations Public Relations Advertising/Marketing/Public Relations Business/Consumer Services Corporate/Industrial News SYND WSJ-PRO-WSJ.com N.PAG N.PAG 1 09/26/23 20230925 NES 230925 Employers step up monitoring of in-office attendance, though efforts can alienate workers or prove difficult to implement; watching for "badge pirates" The work ID, long used for gaining entry to the office, now has a new job: tracking how long people stay. "We know who's assigned to an office and should be working in an office", said Bob Pragada, CEO of the engineering and consulting firm Jacobs, which employs more than 60,000 people and has used badge-swipe data to monitor its office-occupancy levels. [Extracted from the article]

"Just not as competitive" In Denver, where retail company Appliance Factory & Mattress Kingdom is based, the company has recently been hiring administrative workers for around $18 an hour. The Worker Bidding War Is Over. Companies Are Cutting Pay for New Hires. [Extracted from the article]

The FTC said the deal would allow Amgen to "entrench the monopoly positions" of Horizon's eye and gout drugs. Amgen dismissed the FTC's bundling concerns as speculative and said it had told the FTC it wouldn't bundle the Horizon products. [Extracted from the article]

When a brand strikes an upfront ad deal, the commitment for the fourth quarter is usually firm, but advertisers are allowed to pull back a portion of their ad deals for preceding quarters. Carrie Drinkwater, chief investment officer at ad-buying firm MediaHub, said some TV ad dollars also are likely to be shifted to social platforms such as TikTok, Snap and Instagram. Ad buyers expect the writers' strike - the first since 2007-08 - to add even more complexity to the negotiations, which were already expected to be tough given the advertising pullback and the growing number of traditional channels, streaming platforms and tech companies vying for TV ad dollars. [Extracted from the article]

Keywords: leder; wsj-usnews; photo-commission; Market Research/Public Relations; Public Relations; Real Estate Services/Transactions; Office Real Estate; Advertising/Marketing/Public Relations; Business/Consumer Services; Commercial/Industrial Real Estate EN leder wsj-usnews photo-commission Market Research/Public Relations Public Relations Real Estate Services/Transactions Office Real Estate Advertising/Marketing/Public Relations Business/Consumer Services Commercial/Industrial Real Estate N.PAG N.PAG 1 05/02/23 20230428 NES 230428 350 California Street was worth $300 million four years ago. Brokers say venture-capital firms investing in the fast-growing AI sector are making inquiries about office space. "If I wasn't bullish on San Francisco, I wouldn't be here", said Chris Roeder, lead broker for the San Francisco office of commercial real estate services firm Jones Lang LaSalle. [Extracted from the article]

SHARE YOUR THOUGHTS I What impact is the ruling by the U.K. regulator likely to have on the Microsoft-Activision deal? Keywords: wsjcorp; Computers/Consumer Electronics; Software; Applications Software; Dolls/Toys/Games; Market Research/Public Relations; Public Relations; Advertising/Marketing/Public Relations; Business/Consumer Services; Consumer Goods EN wsjcorp Computers/Consumer Electronics Software Applications Software Dolls/Toys/Games Market Research/Public Relations Public Relations Advertising/Marketing/Public Relations Business/Consumer Services Consumer Goods N.PAG N.PAG 1 04/28/23 20230427 NES 230427 U.K. antitrust regulator rejects transaction, saying it would hurt competition in videogame industry Photo: Jae C. Hong/Associated Press The U.K.'s antitrust watchdog rejected Microsoft Corp.'s MSFT 7.24% increase; green up pointing triangle $75 billion deal to buy game maker Activision Blizzard Inc., ATVI -11.45% decrease; red down pointing triangle raising big questions about whether the combination will ever get done and disrupting both companies' short-term strategies. [Extracted from the article]

There wasn't a clear pull-forward in buyback spending ahead of the 1% federal tax on buybacks that took effect Jan. 1, so the excise tax likely won't deter companies from repurchasing shares this year, they said. Based on fourth-quarter results from roughly 90% of the companies in the S&P 500, share repurchases from reporting corporations have fallen about 18% from the prior year to $189 billion, according to S&P Dow Jones Indices data as of Saturday. Keywords: wsjfinance-markets; Financial Investment Services; Security Brokering/Dealing; Market Research/Public Relations; Public Relations; Advertising/Marketing/Public Relations; Business/Consumer Services; Financial Services; Online Service Providers; Investing/Securities EN wsjfinance-markets Financial Investment Services Security Brokering/Dealing Market Research/Public Relations Public Relations Advertising/Marketing/Public Relations Business/Consumer Services Financial Services Online Service Providers Investing/Securities N.PAG N.PAG 1 03/05/23 20230228 NES 230228 Repurchases among S&P 500 companies are projected to top $1 trillion this year Graph: Facebook parent Meta's $40 billion buyback plan is among the biggest share-repurchase announcements. [Extracted from the article]

Keywords: leder; economy; wsjwashington; gfx-contrib; photo-commission; Market Research/Public Relations; Public Relations; Advertising/Marketing/Public Relations; Business/Consumer Services; Labor/Personnel EN leder economy wsjwashington gfx-contrib photo-commission Market Research/Public Relations Public Relations Advertising/Marketing/Public Relations Business/Consumer Services Labor/Personnel N.PAG N.PAG 1 02/09/23 20230208 NES 230208 Employers, struggling to fill hourly wage jobs in construction, restaurants and other services, are offering higher pay and better working conditions to people coming to the U.S. to work; "The scarcity is huge" Migrants who come to the U.S. to find work are now being hired more quickly, at higher pay and under better working conditions than at any time in recent memory. He now has work authorization, and specializes in electrical and remodeling work, owns a pickup truck loaded with construction tools and hires other migrants for jobs that he lands through his own webpage. [Extracted from the article]

Alphabet Inc., GOOG -3.29% decrease; red down pointing triangle Google's parent company, reported $59 billion in advertising revenue for the fourth quarter, a decrease of 3.6% from the same period in 2021. Keywords: wsjcorp; corpearnings; Artificial Intelligence Technologies; Advertising Services; Digital Marketing; Market Research/Public Relations; Public Relations; Internet Search Engines; Advertising/Marketing/Public Relations; Business/Consumer Services EN wsjcorp corpearnings Artificial Intelligence Technologies Advertising Services Digital Marketing Market Research/Public Relations Public Relations Internet Search Engines Advertising/Marketing/Public Relations Business/Consumer Services N.PAG N.PAG 1 02/07/23 20230203 NES 230203 CEO says search giant will release some AI models in coming months as the technology hits "inflection point" Graph: Google is facing one of the most challenging environments for its core advertising business in recent memory. [Extracted from the article]

Analysts now expect iPhone demand to be pushed to the current March quarter, but some have also expressed concern that Apple might face reduced demand for iPhones and other products. Keywords: wsjcorp; corpearnings; Computers/Consumer Electronics; Telecommunications Equipment; Mobile Communications Devices; Personal Electronics; Retail/Wholesale; Etailing; Market Research/Public Relations; Public Relations EN wsjcorp corpearnings Computers/Consumer Electronics Telecommunications Equipment Mobile Communications Devices Personal Electronics Retail/Wholesale Etailing Market Research/Public Relations Public Relations N.PAG N.PAG 1 02/07/23 20230203 NES 230203 Quarterly revenue fell at Apple for the first time in nearly four years; Amazon, Google earnings also disappoint investors Apple Inc. AAPL 2.44% increase; green up pointing triangle reported disappointing quarterly results that ended its three-year streak of sales and profit records, capping an earnings season in which the world's biggest technology companies mostly struggled to shake off a postpandemic hangover. [Extracted from the article]

Keywords: wsjcorp; Advertising Services; Digital Marketing; Internet Search Engines; Advertising/Marketing/Public Relations; Business/Consumer Services; Online Service Providers; Marketing Services; Technology; Corporate Crime/Legal Action EN wsjcorp Advertising Services Digital Marketing Internet Search Engines Advertising/Marketing/Public Relations Business/Consumer Services Online Service Providers Marketing Services Technology Corporate Crime/Legal Action N.PAG N.PAG 1 01/30/23 20230125 NES 230125 Suit could have major implications for the ad-tech industry The Justice Department is seeking the breakup of Google's business brokering digital advertising across much of the internet, a major expansion of the legal challenges the company faces to its business in the U.S. and abroad. "Google keeps at least thirty cents - and sometimes far more - of each advertising dollar flowing from advertisers to website publishers through Google's ad tech tools", the lawsuit alleges. [Extracted from the article]

The company on Thursday elevated heir apparent Greg Peters - who was key to the swift launch of an ad-supported tier of Netflix and previously served as chief operating officer - to co-CEO alongside Ted Sarandos. Keywords: wsjcorp; corpearnings; Advertising Services; Multimedia Content Services; Advertising/Marketing/Public Relations; Business/Consumer Services; Media Content Distribution; Online Service Providers; Marketing Services; Media/Entertainment EN wsjcorp corpearnings Advertising Services Multimedia Content Services Advertising/Marketing/Public Relations Business/Consumer Services Media Content Distribution Online Service Providers Marketing Services Media/Entertainment N.PAG N.PAG 1 01/24/23 20230120 NES 230120 Streaming giant added 7.7 million net new subscribers in fourth quarter Graph: Reed Hastings will transition from co-chief executive to executive chairman. [Extracted from the article]

All told, employers added 4.5 million jobs in 2022, the second-best year of job creation after 2021, when the labor market rebounded from Covid-19 shutdowns and added 6.7 million jobs. Keywords: inflation; gfx-contrib; Market Research/Public Relations; Public Relations; Advertising/Marketing/Public Relations; Business/Consumer Services; Labor/Personnel; Corporate/Industrial News; Markets/Marketing; Industry Profiles EN inflation gfx-contrib Market Research/Public Relations Public Relations Advertising/Marketing/Public Relations Business/Consumer Services Labor/Personnel Corporate/Industrial News Markets/Marketing Industry Profiles N.PAG N.PAG 1 01/11/23 20230107 NES 230107 Unemployment rate edged down to match a half-century low of 3.5% Graph: Employers in many sectors were still struggling late in the year to fill open positions, pushing up wages. [Extracted from the article]

Wsjlifework, Digital Marketing, Advertising/Marketing/Public Relations, Business/Consumer Services, Marketing, Specialized Consumer Services, Wedding Services, Corporate/Industrial News, Social Media Marketing/Advertising, Political/General News Keywords: wsjlifework; Digital Marketing; Advertising/Marketing/Public Relations; Business/Consumer Services; Marketing; Specialized Consumer Services; Wedding Services; Corporate/Industrial News; Social Media Marketing/Advertising; Political/General News EN wsjlifework Digital Marketing Advertising/Marketing/Public Relations Business/Consumer Services Marketing Specialized Consumer Services Wedding Services Corporate/Industrial News Social Media Marketing/Advertising Political/General News N.PAG N.PAG 1 01/05/22 20220104 NES 220104 Newlyweds-to-be are flooding social media with so many of the tags - those things starting with '#' - that some are hiring pros to make sure their nuptial codes stand apart Newlyweds-to-be are flooding social media with so many of the tags - those things starting with '#' - that some are hiring pros to make sure their nuptial codes stand apart. [Extracted from the article]