Sun.Jun 09, 2024

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Seattle Redux: Misunderstanding Seasonal Adjustments

Barry Ritholtz

@TBPInvictus here. About a decade or so ago, the city of Seattle undertook to raise its minimum wage, over time, to $15/hour. (Massive credit to my friend Nick Hanauer for his efforts to make that happen.) What followed in the immediate aftermath of both the announcement and implementation was nothing less than a apocalyptic, collective head explosion on the right about the devastating effects the increase would have, particularly in the food services sector: However, there’s little doubt that t

Math 121
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Real yields continue their wild ride

Tips Watch

By David Enna, Tipswatch.com If you follow me on Twitter (yes, I still call it Twitter), you might have seen a very recent (June 5) post observing that real yields appeared to be heading back below 2.

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Trending Sources

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ERP as catalyst for Finance transformation

Future CFO

Gartner, Inc. says the idea that an enterprise resource planning (ERP) system could be a catalyst for finance transformation may seem counterintuitive to many finance leaders who often find such platforms act as a barrier to transformation. According to Nisha Bhandare , vice president analyst at Gartner, there are ways to turn that situation around and use an ERP platform to boost finance transformation.

Finance 52
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Modi's third straight term oath as PM boosts India Inc.'s confidence in bold reforms, says Assocham

CFO News

In the wake of Narendra Modi's re-election for a historic third term as Prime Minister of India, a sense of buoyancy permeates the business landscape. Deepak Sood, Secretary General of ASSOCHAM, expresses optimism for bold reforms under Modi's leadership.

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Master Your Expenses: The Ultimate Corporate Card Checklist

Choosing the right corporate card program is key to managing employee spending effectively. This checklist highlights important factors to consider, like ease of administration, card acceptance, real-time data, and software integration. It also details features like customizable policy controls, dynamic approvals, and robust analytics to help optimize expense management.

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A Day in the Life: Julia Simatupang from ACCA Indonesia

Future CFO

Editor’s note: In today’s A Day in the Life interview , Julia Simatupang (pictured), Country Manager & Chief Representative, ACCA Indonesia shares with FutureCFO audiences how leading a cross-functional team helped her grow professionally and how she maintains work-life balance. FutureCFO: What does a typical day look like for you? Julia Simatupang (JS): A typical day for me involves a blend of strategic planning, team management, stakeholder engagement, and operational oversight.

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1007: The Art of Financial Storytelling | Ashley Johnson, CFO, Planet

CFO Thought Leader

When she was an international studies major living abroad, Ashley Johnson tells us she met a U.S. ambassador, whose unvarnished career advice subsequently led her to divert her career path away from the diplomatic corps of the U.S. foreign service. Johnson reflects, “I thought I was going into the State Department.” However, a weekend spent with Ambassador Roy Huffington, immersed in discussions about the pivotal role of a strong economy, sparked a profound realization. “You ca

CFO 52
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Unacademy cofounder and CTO Hemesh Singh quits edtech startup

CFO News

Hemesh Singh, cofounder of Unacademy, transitions from CTO to advisory role after a decade. Singh's exit is the latest in a series of high profile exits from the edtech startup, which now primarily focuses on offline test preparation. Despite multiple layoffs, Unacademy reduced its net loss by 41% in fiscal 2023.

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • High-Yield Was Oxy. Private Credit Is Fentanyl. Yet despite the data — and the intuition about higher-yielding loans described above — private lenders assure investors that the extra yield isn’t a result of increased risk and that over time private credit has been less correlated with other asset classes. ( Institutional Investor ) see also The Insulin Empire : How profiteers pushed a lifesaving drug out

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Realty hopes reforms, infra development continuity as Modi 3.0 takes charge

CFO News

Industry players and experts are emphasizing the need for tax rationalization and reduced approval costs to foster a more conducive environment for investment and development.

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Live Demo: How to Achieve Reconciliation Zen

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Commerce Min may seek more funds for startups in forthcoming Budget

CFO News

Commerce Ministry considers requesting extra funds for startups in the Budget 2024-25 to support startups in various growth stages with a new scheme similar to the seed fund scheme that provided funding through incubators, in line with the Startup India initiative.

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Navigating eco in uncertain world a challenge for new FM

CFO News

The swearing-in of Narendra Modi's council of ministers raises the question of who will be the next finance minister, with speculation on whether Nirmala Sitharaman will retain her position at the finance ministry on Raisina Hill.

Finance 40
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Modi 3.0: Growth sequel starring jobs, investment

CFO News

The full budget, likely to be presented early in July, will detail specific measures toward this end. "The focus would be to promote labour-intensive growth that will create jobs, with continued emphasis on macroeconomic stability," a top government official aware of the details told ET. A host of measures on startups and taxation - including inverted duty structure correction, along with GST rate rationalisation - is under discussion, said the person cited above.

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Plan to tweak capital gains tax regime for debt mutual funds

CFO News

The government is considering changes to the capital gains tax regime for debt mutual funds to provide relief for the Bharat Bond Exchange Traded Fund, amid concerns over the current taxation structure.

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New DOL Final Overtime Rules: Quickstart Guide for Employers

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.

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Piyush Goyal returns as Union minister in new avatar as 1st time Lok Sabha member

CFO News

Piyush Goyal, 59, who has been a Rajya Sabha member since 2010, eloquently articulated the government's position on different occasions during debates on various issues in the Upper House of Parliament.

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Nirmala Sitharaman: Feisty defender of Modi govt to filling big shoes

CFO News

As a staunch defender of the Modi government's economic policies and executor, Nirmala Sitharaman created a record when she was appointed as the first female Raksha Mantri, or Defence Minister, in 2017. Prior to that, she was industry and commerce minister.

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Adani Enterprises, Edelweiss Fund among 20 companies in fray for IL&FS' road assets

CFO News

A mix of corporate houses, infrastructure and road construction companies, non-banking financial companies (NBFCs), and funds have shown interest in acquiring these assets either individually, in combination, or both, said a person familiar with the matter.

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Real estate sector pushes for tax rationalisation and reduced approval cost as Modi 3.0 set to take oath

CFO News

With Narendra Modi set to take oath as Prime Minister for the third time, the real estate industry has high expectations from Modi 3.0. The interim budget announced a boost for affordable housing by adding 2 crore more houses to the PMAY-U scheme. Experts emphasize the need for policy reorientation, cost reductions, and tax rationalization to accelerate growth.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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Anil Ambani's Reliance Infra to raise USD 350 mn FCCB to repay rupee debt, expansion

CFO News

The company has debt facilities in form of term loans on non-convertible debentures of Rs 2253 crore and Rs 703 crore respectively, according to a Care Rating report dated February 26 this year.

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Narendra Modi takes oath as PM for third straight term

CFO News

PM Modi oath ceremony: Narendra Modi was sworn in as the Prime Minister of India for the third consecutive time on Sunday. The ceremony took place at Rashtrapati Bhavan in Delhi, where President Droupadi Murmu administered the oath of office.

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Instant flour mixes for dosa, idli, khaman cannot be classified as sattu; to attract 18% GST

CFO News

The Gujarat Appellate Authority for Advance Ruling has ruled that instant mixes like idli and dosa should be taxed at 18% GST, rejecting a company's plea for a 5% tax rate.

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Banks ask RBI to ease liquidity rule to keep credit taps open

CFO News

Indian banks are urging the industry regulator to relax the current liquidity coverage requirements. They believe easing these mandates will free up more funds for lending.

Banking 40
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Your Guide to Creating a Travel Policy

Navigating travel expenses can be challenging, but our workbook offers a clear path forward. Learn to craft a travel policy that fits your budget and makes travel management simple. This self-guided workbook offers: Practical advice on choosing airlines, setting booking time frames, and managing travel costs effectively. Insights into selecting the right class of service for each employee, ensuring everyone travels comfortably and within policy.

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What to expect from NDA 3.0's budget

CFO News

NDA 3.0: The new NDA government's budget aims for faster fiscal correction with higher growth and central bank profits to lower interest rates.

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Nirmala Sitharaman administered oath as Union Cabinet Minister by President Droupadi Murmu.

CFO News

Nirmala Sitharaman administered oath as Union Cabinet Minister by President Droupadi Murmu.

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Modi 3.0 in action: NDA's 100-day dash unveiled with key ministry moves

CFO News

With the National Democratic Alliance assuming power, all Union ministries are set to launch their 100-day plans. ET provides a snapshot of the key government initiatives and actions planned for the next three months.