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European Lenders Announce 60K Job Cuts

PYMNTS

European banks have been forced to slash more than 60,000 jobs as they face falling profitability, The Financial Times reported on Saturday (Dec. France, Spain and Switzerland have suffered due to Brexit, slowing economic growth, increasing regulations and the European Central Bank’s negative interest rates. In the U.K.,

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How to create & use pro forma statements

Cube Software

Pro forma income statement The income statement (also known as the profit & loss or P&L statement) mainly evaluates revenue and operating expenses, along with other metrics related to each like cost of goods sold (COGS) or net income. This is always important to do, but especially now in the midst of economic uncertainty.

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Transcript: Tom Wagner, Knighthead Capital

Barry Ritholtz

WAGNER: Yeah, I started as a certified public accountant and one of the early engagements that I was tasked with was in the space of asset management and I recall doing the audit on Jeffrey Vinik’s very first year as a hedge fund manager. And it was the most profitable day of trading I’d ever had. WAGNER: Exactly.

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Musings on Markets: Control, Complexity and Politics: Deconstructing the Adani Affair!

CFO News Room

Inexperienced (or worse) auditors : Hindenburg notes that the accounts at Adani Enterprises and Adani Total Gas are audited by a tiny and largely unknown auditing firm, Shah Dhandaria, with four partners and eleven employees, some young and inexperienced.

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Control, Complexity and Politics: Deconstructing the Adani Affair!

Musings on Markets

Download data Again, the steep drop off in invested capital that you see in 2015 is just a reflection of the restructuring of the company that year, as the invested capital in Adani Ports and Power was removed from the mix.