Wed.Mar 22, 2023

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Fed hikes main rate by quarter-point, cites ‘resilient’ banking system

CFO Dive

The central bank tightened borrowing costs as inflation persists well above its 2% target.

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U.S. Bank Failures, 2001 – Present

Barry Ritholtz

Bank failures since 2001, scaled by amount of assets in 2023 dollars. The graphic above, via Flowing Data , puts recent events into perspective: At $209 billion in assets, the Silicon Valley Bank failure since Washington Mutual crashed in 2008 (JPM Chase took them over from the FDIC). The post U.S. Bank Failures, 2001 – Present appeared first on The Big Picture.

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Trending Sources

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NFL poaches NBC Sports CFO

CFO Dive

Christine Dorfler is departing from her 20-year tenure at NBCUniversal to fill the CFO shoes of an NFL C-suite veteran.

CFO 261
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Lamborghini's Best Year Ever, Again: Q&A With CFO Paolo Poma

Global Finance

Are luxury cars untouched by economic slowdown and inflation? The latest results from Italian luxury automaker Lamborghini suggests so. CFO Paolo Poma believes the company can even improve its profitability, despite economic headwinds. Global Finance spoke with Poma—who has been managing director and CFO since 2017—when he recently visited New York.

CFO 126
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Live Demo - Supercharge your Month End Close

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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C-suite pay ‘paper losses’ emerge in PVP filings

CFO Dive

Executive compensation or what is effectively realizable pay swings from as much as $1 billion to negative $644 million, proxies from early filers show.

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More Trending

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Papa Johns CFO resigns

CFO Dive

Ann Gugino, who has been at the pizza chain since 2020, is leaving effective May 31. Papa Johns has begun a search for a permanent CFO.

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Managing Your Accounts Payable: A Guide for Small Business Owners

https://trustedcfosolutions.com/feed/

Are you tired of the countless hours spent managing your accounts payable (AP)? Do you want to streamline your accounting process to save the time and money spent on manual tasks on Quickbooks? With a growing business, it’s easy to outgrow the accounting systems you’ve relied on since the conception of your company. By moving to Sage Intacct, you’ll gain valuable, actionable insights and true visibility into your business performance while simplifying the AP process.

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“Being Agile and Transformative Should be the DNA of Every CFO to Stay Relevant"

CFO News

FOs are constantly inventing their companies and creating new contexts to be ahead in this competitive marketplace. For them, it’s not just about numbers, but it’s also about people, culture and technology.

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What ESG News Matters Most to the Market?

CFA Institute

Not all ESG news events are associated with significant changes in stock price.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Modi’s green dream at risk as Indian renewables hit by headwinds

CFO News

Energy transition investments in India already lag behind other major nations, and now the cost of capital is increasing as global interest rates rise, while the Inflation Reduction Act is creating more opportunities for clean-power investors in the US and its free-trade partners. All that spells trouble for Prime Minister Narendra Modi’s goal to put India at the forefront of climate action.

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HKTDC: Hong Kong Export Index rebounds sharply

Future CFO

The Hong Kong Export Index grew 9.3 points to 39.0 in January-March this year as border reopens, said the Hong Kong Trade Development Council (HKTDC) recently when releasing results of its quarterly survey. The first-quarter export survey showed that almost all respondents (98%) reported positive impacts from the gradual resumption of normal cross-border travel since early January, especially from the more flexible and frequent business travel and cross-border engagements, the council noted.

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Infobip appoints Richard Kraska as CFO

CFO News

Kraska will take over Mario Baburic as the CFO, who is leaving to start a new career path after four years as a part of Infobip’s leadership team.

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FocusCFO Announces Partnership With ITR Economics

Focus CFO

FocusCFO, a leading provider of embedded Fractional CFO services, is excited to announce a new partnership with ITR Economics.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.

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Foreign law firms’ entry won’t have a significant impact on legal fees: Manipal Hospitals Group CFO

CFO News

Allowing foreign law firms into India in a limited field could go a long way in bringing more FDI and help establish India as a centre for international commercial arbitration, says Sameer Agarwal.

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Fearless Finance: What drives whistleblower Sarika Lakraj-Naidoo

CFO Talks

Written by Staff Writer Before Sarika Lakraj-Naidoo came to media attention for blowing the whistle on R8.2 billion in questionable contracts at the City of Johannesburg, she was a guest on the CFOTalks podcast. Sarika, has since faced suspension, threats and harassment. This blog reflects on what motivates a whistleblower in a country where calling out corruption can be lethal Sarika’s belief in public service and leaving a legacy “I would like my legacy to outlast my life,” Sarika Lakraj-Naido

Finance 98
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Vedanta mulling stake sale worth $630 million, report says

CFO News

Mining mogul Anil Agarwal is weighing a stake sale in Vedanta as a last-resort option and is studying the possibility of selling less than 5 per cent of the company, news agency Bloomberg reported on Thursday.

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After Adani storm, Hindenburg is coming up with another report on a ‘big one’

CFO News

Hindenburg Research has now said that it is coming up with a new report soon on another target and promised it to be a 'big one'. Hindenburg on January 24, in a report titled Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History, alleged following two-year investigation that Rs 17.8 trillion conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Tatas bet big on own mineral water brands

CFO News

"Acquiring Bisleri would have fast-forwarded our plans by three years, but this plan was just a small puzzle in our big F&B (food and beverages) puzzle box," D'Souza told ET. "We will now back our own brands Tata Copper+, Tata Gluco+ and Himalayan mineral water with the strong resources we have at our disposal.

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Fed increases rates by 25 bps but signals hikes are near an end

CFO News

The move set the U.S. central bank's benchmark overnight interest rate in the 4.75%-5.00% range, with updated projections showing 10 of 18 Fed policymakers still expect rates to rise another quarter of a percentage point by the end of this year, the same endpoint seen in the December projections.

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Funding, governance standards key to Adani company ratings: S&P

CFO News

Analysts Abhishek Dangra and Richard M Langberg, authors of the report, also said serious lapses uncovered in the ongoing scrutiny of the conglomerate could also prompt negative rating action.

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Finance Minister calls state-owned lenders' meet amid global banking crisis

CFO News

Though experts have ruled out any possible spillover impact on domestic banks given their strong balance sheets, the government wants to know from the lenders whether any policy intervention is required. "A review will be undertaken likely on Saturday," sources said. The government has already been in touch with financial sector regulators.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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Banks reach out to RBI, seek easing of MSME bad loan rules

CFO News

Banks want that a restructured MSME account under the Covid package be considered NPA from the latest date and not from the date prior to restructuring. This will give some relief to banks as it would lessen their provisioning burden. This comes after, in certain cases, banks were told to treat such accounts as bad loans starting from when they were restructured and accordingly make provisions.

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Fed's Powell: SVB management 'failed badly,' need changes to bank oversight

CFO News

"These are not weaknesses that are running broadly through the banking system," Powell told a press conference after the Fed's latest policy meeting, adding that depositors' money is safe. Fed supervisors saw the bank's exposure to liquidity and interest-rate risks and moved to intervene, he said, but the speed of the bank run outpaced anything seen in the past.

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Walmart in talks with Indian manufacturers to source mobile accessories, IT hardware

CFO News

Walmart, which owns majority stakes in Flipkart and PhonePe, is looking to source a wide range of products such as cables, chargers, screen protectors, home appliances, hearables, wearables, tablets, laptops, and lighting. Employees of Walmart have met multiple contract manufacturers, inquiring about their capacities, processes, and testing methods, the executive said.

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Banks again fail to share subsidy with payments service cos

CFO News

A letter addressed by the NPCI steering committee to all member banks on January 16 had decided that lenders will have to share 0.15% incentive to issuers and 0.025% incentive to be given to payment systems operators. A similar letter was also sent in December. ET has seen a copy of both the letters.

Banking 52
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Tariffs on the Table: How to Brief the Board and C‑Suite With Confidence

“What should we do about the tariffs?” There’s no straightforward answer — every leader has a different expectation. CFOs want numbers. COOs want action. CEOs want strategy. And supply chain and procurement leaders need to be ready with the right response — fast. That’s why GEP has created a simple three-part framework that will help CPOs and CSCOs brief the board and C-suite with clarity and confidence.