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The Latest Breaking News from McKinsey

How will AI reshape 2025? Well, it could be the spreadsheet of the 21st century

Large language models have changed how big corporations function, and the arrival of AI ‘agents’ – essentially automated Moneypennys – could prove irresistible

The Guardian - UK

Latino Entrepreneurs See Progress in Credit Access, Yet Face Funding Gaps That Could Limit Growth

Despite the increase in credit applications, Latino-owned businesses still struggle with funding gaps, highlighting the need for targeted financial solutions to fuel growth.

Latin Times

Latinos in Hollywood: Untapped Talent Could Add $18 Billion Annually to the Industry

Despite making up 19% of the U.S. population, Latinos hold less than 5% of key Hollywood roles, limiting their full economic impact.

Latin Times

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Latino Entrepreneurs Drive U.S. Business Growth Despite Challenges

Latino-owned businesses are growing rapidly, but closing key gaps in revenue and support could drive massive economic value and job creation nationwide.

Latin Times

McKinsey To Pay $650 Mn To Settle US Criminal Case On Opioids

Consulting giant McKinsey & Company will pay $650 million to settle US criminal charges that it collaborated with Purdue Pharma to intentionally misbrand opioids, worsening a public health crisis, officials announced Friday.

International Business Times

McKinsey to pay $650m to resolve US investigation into opioid crisis role

Consultancy giant agrees to two criminal counts, including for conspiring with drug manufacturers, in DoJ settlement

The Guardian - US

Mckinsey To Pay 0 Million In Purdue Pharma Settlement

McKinsey & Company agrees to pay 0 million in settlement for its role in Purdue Pharma's opioid crisis, impacting addiction and overdose prevention efforts.

Top News

Agency overseeing $368bn Aukus deal in morale crisis paid consultancy $9.5m for management advice

Exclusive: Australian Submarine Agency’s ten-month contract with McKinsey says it’ll deliver skills ‘currently unavailable’ within government department

The Guardian - AU

Morning Mail: firm with fossil fuel links advises on climate policy, teen radicalisation warning, (not) the Christmas weather forecast

Federal climate change department outsourced work to consultancy with known links to oil and gas companies

The Guardian - AU

McKinsey paid $1.6m to ‘guide’ Australian climate policy despite working for fossil fuel companies

Firm disclosed its private sector work, Guardian Australia is told, but it is not known which clients were listed

The Guardian - AU

Amid Gen Z’s love of cheaper, lab-grown diamonds, a natural diamond giant slashes prices

After holding out, De Beers cut prices by more than 10%, according to Bloomberg.

Fortune

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Fortune

Jamie Dimon says the next generation of employees will work 3.5 days a week and live to 100 years old

Jamie Dimon, CEO of JPMorgan Chase, says AI will enable people to work 3.5-day weeks in future.

The Guardian - UK

First Thing: ICC seeks Netanyahu’s arrest over allegations of ‘war crimes and crimes against humanity’

The international criminal court also issued warrants for Israel’s Yoav Gallant and Hamas’s Mohammed Deif. Plus, Matt Gaetz withdraws from attorney general nomination

The Guardian - US

Revealed: McKinsey clients had ‘rising share of global emissions’, internal analysis shows

Consulting giant had said it engages with clients to help them transition to cleaner energy even as it knew they were in line to exceed climate targets

Fortune

CEOs share how AI is shaking up the workforce—including an instance of 'robots outcompeting humans in real time'

Chinese startups can develop digital avatars almost as good as human streamers using just a few minutes of footage, noted McKinsey's Rodney Zimmel.

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TechRadar

Transformation in banking is over, enter progressive modernization

Banks are updating existing tech infrastructure incrementally, rather than through a complete overhaul.

Fortune

What tech leaders are planning to spend on in 2025

Artificial intelligence is at the top of the list for what tech leaders are planning to spend on in 2025.

Salon

This industry comeback lacks workers

Staffing shortages could put domestic objectives for the industry at risk and drive up labor costs

The Independent UK

GOP lawmakers seek investigation of consulting firm over its work in China

A group of Republican lawmakers is demanding a federal investigation into the U.S. consulting firm McKinsey over its work with the Chinese government and state-owned enterprises

The Independent UK

Big Tech's power demands mean nuclear is getting a fresh look from electricity providers

Nuclear power is garnering renewed attention amid growing demand for power and cleaner energy

Latin Times

Financial Institutions Are Missing on $240 Billion by Underserving Latino Savers, Report Shows

Latino savers, the fastest-growing demographic, show a 4.7% income growth rate and are eager to invest in tailored financial services.

The Conversation

What France’s ‘McKinsey Gate’ scandal revealed about the four major types of consulting’s conflicts of interests

McKinsey & Company and other consulting firms have long faced criticisms for their involvement with governments. Investigative journalists and academics alike have flagged their growing influence, citing cases like the staggering expenses of up to £1 million per day on private consultants for the UK’s Covid-19 Test-and-Trace service, or the…

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