Alibaba Wages Global Talent War for Elite MBAs (Bloomberg)
Chinese e-commerce behemoth Alibaba Group Holding launched a new effort to recruit and train some of the same promising managers North American companies are clamoring to hire, as part of a broader expansion into foreign markets, the company said Sunday. As one element of the initiative, called the Alibaba Global Leadership Development Program, second-year MBA candidates at top business schools worldwide will compete for a two-year rotation among various divisions of the company. The program's standouts will be hired full time at the end of the two years.
Kravis’s KKR Said to Seek Up to $12 Billion for Buyout Fund (Bloomberg)
The New York-based firm, led by Henry Kravis and George Roberts, expects to target at least $10 billion and will start marketing the pool in the third quarter, said the people, who asked not to be named because the information is private.
Greece two weeks from cash crisis - Yanis Varoufakis (BBC)
Greece's finance minister says his country's financial situation is "terribly urgent" and the crisis could come to a head in a couple of weeks. Yanis Varoufakis gave the warning after eurozone finance ministers met in Brussels to discuss the final €7.2bn tranche of Greece's €240bn EU/IMF bailout. Ministers said Greece had made "progress" but more work was needed. The Greek government is struggling to meet its payment obligations. Earlier, Greece began the transfer of €750m (£544m, $834m) in debt interest to the International Monetary Fund - a day ahead of a payment deadline. "The liquidity issue is a terribly urgent issue. It's common knowledge, let's not beat around the bush," Mr Varoufakis told reporters in Brussels.
Bourbon Feels the Burn of Barrel Shortage (WSJ)
In 50 years of making bourbon barrels, no one had ever offered Leroy McGinnis more than what he charged for them. But over the past six months, multiple distillers have offered to pay him $250 a barrel—a 70% premium above the $150 list price. The offer illustrates just how scarce bourbon barrels have become. As bourbon sales have soared, both barrel production and the lumber industry have struggled to keep up. Mr. McGinnis’s Missouri-based company, McGinnis Wood Products Inc., gets about four email requests a day for barrels. He turns most down. Like many of his competitors, he has only enough capacity and wood to fill orders from longtime customers. The rest go on a waiting list, perpetuating a bourbon barrel shortage now entering its third year.
Buses emblazoned with picture of topless models holding a signs saying 'Ride me all day for £3' spark outrage (Daily Mail)
New Adventure Travel Ltd (NAT), based in Cardiff, excitedly took to Twitter [Monday] morning to promote the new provocative adverts which have been emblazoned across the back of ten new buses. One advert shows a dark-haired woman posing in a sultry manner with the suggestive sign, while another shows the same sign being held by a topless male model. But the campaign backfired when passengers condemned the company for being 'unacceptable' and 'insulting'. Others accused the company of 'promoting sexism and rape culture'...NAT have now released a statement saying the adverts were intended to be a 'tongue-in-cheek way' of making bus-catching more attractive to the younger generation.
Elon Musk once scolded a Tesla employee for missing a work event to witness the birth of his child (BI)
Here's the email Musk reportedly sent to a Tesla employee who wasn't identified by name in the book: "That is no excuse. I am extremely disappointed. You need to figure out where your priorities are. We're changing the world and changing history, and you either commit or you don’t."
American Apparel to Raise Capital After Posting Wider Loss (Bloomberg)
The stock sale will be “at the market” -- meaning shares are sold from time to time rather than in one big block -- with the proceeds going toward working capital and general corporate purposes, the Los Angeles-based company said in a statement Monday. American Apparel’s net loss expanded to $26.4 million, or 15 cents a share, from $5.47 million, or 5 cents, a year earlier. Revenue fell 9.4 percent to $124.2 million.
Blue Apron Seeking $2 Billion Valuation in New Funding Round (WSJ)
The New York-based startup, which ships boxes of pre-measured ingredients to home cooks, is in talks to raise money from investors at a valuation of around $2 billion, according to people familiar with the matter. The company is seeking to raise more than $100 million, one of the people said, but the deal hasn’t been finalized.
OPEC Sees Oil Below $100 Long-Term (WSJ)
The report predicted that oil prices will be about $76 a barrel in 2025 in OPEC’s most optimistic scenario, the people said, a reflection of the cartel’s worries that American competitors will be able to cope with low prices and keep pumping out supplies. It also contemplated situations where crude oil costs below $40 a barrel in 2025, the people said.
UK man banned from airline over Pinocchio tattoo (News)
A holidaymaker who exposed his Pinocchio penis tattoo to cabin crew and waved around a sex toy while on a flight to Majorca, has dismissed the incident as “only a giggle”...Imposing the ban, chiefs at the airline described the behaviour as “disgusting”, saying they carry many families on their flights and such actions would not be tolerated. But Tom Washington said spirits were high as, along with 22 of his friends, he boarded the flight from East Midlands Airport to Majorca dressed as female cabin crew staff. Things, however, quickly turned sour on-board the plane when Tom revealed his tattoo of childhood character Pinocchio, located above his private parts, to fellow holiday-makers and cabin crew. “There were 23 of us altogether and we all met at East Midlands airport,” he said. “We got up in the early hours to do our make-up and hair like any presentable woman. “We were all excited and sober at this point, and we got on to the plane with barrels of laughter from pretty much everyone — the airport staff and members of the public. We got to our seats on the plane for the safety induction. “I got up but because my jacket was too tight, it exposed my chest which I had covered with a bra. I then proceeded to ‘help’ the cabin staff with the safety talk using a sex toy. “There were some old men on the plane as well and they were a laugh. The lads mentioned I had a tattoo of Pinocchio, which I showed them, and that was the point where the manager took my passport.”