Tue.Jul 04, 2023

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The Broker Who Saved America

The Reformed Broker

You know Hancock and Washington and Franklin and Jefferson. You might even know Greene and Knox, Henry and Hale. And we know you know Hamilton, pretty tough to escape that one these days! But it is very unlikely that you know the name Haym Solomon. This is unfortunate, because he’s the guy who arranged financing to keep the Continental Army alive during its darkest days, finding the money to keep the revolution goin.

Finance 144
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Coffee Day reports default on Rs 465 crore debt in April-June quarter

CFO News

Default on loans stands at Rs 244 crore while on unlisted debt securities, it stands at Rs 220 crore. The Securities and Exchange Board of India had earlier found Rs 3,535 crore worth of fund diversion at Coffee Day Enterprises.

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Trending Sources

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#FA Success Ep 340: Operating Agreement As Pre-Nup: Splitting Away From Ensemble Partnership To Launch Your Own Firm, With Melissa Joy

Nerd's Eye View

Welcome back to the 340th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Melissa Joy. Melissa is the Founder of Pearl Planning, an independent RIA based in Dexter, Michigan, that oversees more than $175 million in assets under management for 251 client households. What's unique about Melissa, though, is how she originally built her career following a path of becoming a partner in a large ensemble firm, but when she finally got the opportunity to make partner sh

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Not just Auditors, CFOs too are responsible for delayed reporting of accounts: Legal experts

CFO News

​ETCFO exclusively discussed the role and responsibility of CFOs in delayed reporting of accounts with legal luminaries. What the law says over two crucial issues are the CFOs not equally responsible as auditors for delays or the lack of submission for financial statements and if it's only the auditors who have to resign over delayed submission of financial accounts - what does the law state about CFOs ?

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Rethinking digital transformation from a human lens

Future CFO

This year, significant macroeconomic disruptions are on the horizon. Facing the pressing issues of rising costs, inflation, and risk – in areas such as geopolitics, supply chain, climate, public health and more – the increased adoption of automation and access to robust analytics and data are critical to mitigate these challenges. Therefore, a flexible and resilient infrastructure that supports remote work and ensures data security is of utmost importance, particularly so for the finance departm

More Trending

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BEPS 2.0: Only one-third of finance leaders complete impact assessment

Future CFO

While 90% of CFOs and tax leaders expect a “significant” or “moderate” impact from BEPS 2.0, only 30% have completed an impact assessment, said EY recently when releasing results of its EY Tax and Finance Operations Survey. The survey, polled 1,600 CFOs, heads of tax and finance professionals across 32 jurisdictions, according to EY. Regulatory readiness deepens challenges Many large global businesses are bracing for sweeping reforms as governments implement the Organisation for Economic Co-oper

Finance 52
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Pepper Money India appoints Hardeep Singh as CFO

CFO News

Pepper Group's subsidiary, Pepper Money India, has appointed Hardeep Singh as Chief Financial Officer (CFO). His hiring is in line with the company's aim to assemble a strong leadership team to handle the changing business landscape and drive growth.

CFO 98
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913: The Rewards of “Ruthless Transparency” | Jeff Noto, CFO, Zayo

CFO Thought Leader

When Jeff Noto is asked to reflect back on his 35 years with Verizon, he tells us that his earliest years with the company were spent scoring quick returns on investments that Verizon had made inside its fledgling wireless business. “I always have to chuckle when I think back to how certain people thought that wireless would not be a product for very long,” comments Noto, who notes that being able to demonstrate speedy returns on investments became critical to securing future investments and for

CFO 52
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Hero Vired appoints Prarthana Agarwal as head of finance

CFO News

Previously, Prarthana Agarwal served as the CFO at Centum Learning Ltd, where she demonstrated her prowess in implementing financial strategies that drove sustainable growth.

Finance 97
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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Transcript: Ilana Weinstein

Barry Ritholtz

 The transcript from this week’s, MiB: Ilana Weinstein Discusses the Hedge Fund War for Talent , is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , Bloomberg , Stitcher , Google , and YouTube. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ Ilana Weinstein on the War for Talent at Hedge Funds (Podcast) ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio.

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Bandhan Bank CFO Sunil Samdani resigns

CFO News

Cfo Movement: Bandhan Bank’s CFO, Sunil Samdani, has resigned to explore opportunities outside the bank, with his last working day set for September 30, 2023.

CFO 98
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10 July 4th Reads

Barry Ritholtz

My July 4th morning reads: • American States Once Awash In Cash See Their Fortunes Suddenly Reversed : California, New York lead declines in revenue so far this year Texas, Florida coffers keep growing amid population influx. ( Bloomberg ) • The Localist: Why did Chicago become the headquarters of free market fundamentalism? Adam Smith offers a clue why the Scottish philosopher became an icon of American Capitalism. ( Boston Review ) • Suddenly, It Looks Like We’re in a Golden Age for Medicine :

Education 101
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Fractional ownership platform hBits promotes CFO Samir Bhandari as Co-founder

CFO News

Cfo Movement: In the new role, Bhandari aims to continue capital-raising endeavours, driving hBits' growth and positioning of the company.

CFO 98
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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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India's service sector growth weakens to a three-month low in June

CFO News

Service Sector: India's services PMI reading has been above breakeven for nearly two years, the longest stretch since August 2011.

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RBI rejects three applications for small finance bank licences

CFO News

The rejected applicants are Akhil Kumar Gupta; Cosmea Financial Holdings, which is promoted by former Reliance Capital managing director Sam Ghosh; and West End Housing Finance.

Finance 52
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Streaming and ePublishing companies join fight against Google’s billing policy

CFO News

Several companies including Matrimony.com, Shaadi.com, Unacademy, Kuku FM and TrulyMadly had earlier approached the high court, challenging Google’s notice asking them to either adopt the company’s mandated billing route or risk being removed from its Play Store.

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Mojocare board to discuss audit report, may consider shutting shop: sources

CFO News

According to people briefed on the contents of the final forensic report, the founders have been found to have inflated revenues and sales in internal presentations to investors, and shown elevated expenses as well (to explain the losses in spite of the higher revenues).

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Most Future Enterprises lenders back Avil Menezes as resolution professional

CFO News

The National Company Law Tribunal (NCLT) had appointed Jitender Kothari as the interim resolution professional (IRP) in February when FEL was admitted for corporate insolvency on a petition by Foresight Innovations, an operational creditor.

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Elon Musk leads $852 bn surge among world’s richest; Adani sees highest wealth erosion

CFO News

The world's 500 richest people collectively saw their fortunes grow by $852 billion in the first half of 2023, with each member of the Bloomberg Billionaires Index making an average of $14 million per day. This was the strongest six-month period for billionaires since the latter half of 2020. The gains were driven by a stock market rally, despite concerns about central bank interest rates, the conflict in Ukraine, and regional bank crises.

Banking 52
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Wipro share buyback: Retail investors make double-digit gains in Rs 12,000 crore-offer

CFO News

Investors who participated in the buyback will get their payment by July 7, and the unaccepted shares will also be returned to shareholders by the 7th of this month. The record date of Wipro's share buyback, which ran from June 22-30, was June 16. The share buyback price was fixed at Rs 445, while the closing price on the record date was Rs 381.30, implying a premium of 16.7%.

Retail 52
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Byju’s promoters sold shares worth $408 million; Wipro investors ride high on share buyback

CFO News

The promoters of Byju’s sold their shares for millions of dollars since 2015, according to a research and data platform. However, a spokesperson for the edtech giant was quick to clarify that the proceeds were reinvested in the firm. This and more in today’s ETtech Top 5.

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Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.

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DGGI seeks higher GST from auto parts makers

CFO News

Indian tax authorities have raised demands for higher tax from at least 17 automotive component manufacturers over tax rates for parts used exclusively by the auto industry. The Directorate General of Goods and Services Tax Intelligence (DGGI) sent notices citing a Supreme Court judgment. The court ruled in favour of Westinghouse Saxby Farmer, leading to doubts over GST liabilities for the auto industry owing to disputes with the CBIC board.

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Demand for white-collar talent up 5% in June as non-tech hiring picks up

CFO News

Even as the core sector is showing positive hiring sentiment, talent demand in the Indian IT services sector, which has some of the biggest employers, fell to its lowest level since December 2020 - down 56% from a year earlier and 4% sequentially, according to data collated by specialist staffing firm Xpheno from LinkedIn and other top company job boards.

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Innovations helping wealth management firms to improve risk management

CFO News

Wealth management firms are continuously seeking ways to improve risk management practices to safeguard their clients' assets and ensure sustainable growth. In this pursuit, several innovative solutions have emerged, offering valuable tools and strategies to enhance risk management in the wealth management industry. Wealth management firms require robust systems that provide real-time data, advanced analytics, flexibility, and intuitive risk assessments.

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Merger won't have adverse impact, Air India, Vistara tell Competition Commission amid scrutiny

CFO News

Air India and Vistara have told the Competition Commission of India (CCI) that their merger will not affect competition as rivals operate on most routes that the combined entity will fly. The Tata Group is merging Vistara into Air India to create a single full-service airline, with Singapore Airlines owning a 25.1% share in the new entity, whilst AirAsia India is completing a merger with Air India Express to create a single low-cost subsidiary of Air India.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.