Wed.Mar 13, 2024

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EU enacts sweeping AI rules with global reach, stiff penalties

CFO Dive

Penalties include up to €35 million or 7% of a company’s total worldwide annual turnover — whichever is higher — for violations of a ban on “emotion recognition” in the workplace.

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At the Money: How To Know When The Fed Will Cut

Barry Ritholtz

At the Money: How To Know When The Fed Will Cut with Jim Bianco (March 13, 2024) Markets have been waiting for the Federal Reserve to begin cutting rates for over a year. What data should investors be following for insight into when they will begin? Jim Bianco discusses initial unemployment claims data and wage gain to identify when the Fed will start lowering rates.

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Trending Sources

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HSBC alum returns as Americas CFO

CFO Dive

Andrew Fullam is returning to the London-based bank about a year after leaving to head up Enterprise Financial Planning & Analysis at Wells Fargo.

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Allcargo Group CFO anticipates strong growth in logistics sector for FY25 despite geopolitical challenges

CFO News

Deepal Shah, Group CFO of Allcargo Group, anticipates a prosperous FY25 driven by heightened demand and strategic initiatives, including demergers and digital adoption, positioning the company for sustainable growth.

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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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Apex Fintech CFO looks to identify key skill gaps ahead of potential IPO

CFO Dive

Nasdaq alum Chantal Wessels is aiming to identify the critical skill sets and technologies Apex might need as it consolidates its plans for an IPO.

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More Trending

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Affirm CFO swears off auto lending, for now

CFO Dive

The buy now, pay later company seeks to be involved in more consumer spending opportunities, but finance chief Michael Linford all but ruled out auto lending.

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Why Moving To A Lower-Tax State Doesn’t Always Result In Lower State Taxes On Deferred Income

Nerd's Eye View

Most of the time, people are subject to state taxes in the states where they live and/or earn their income. So when moving to a lower-tax state or another, their income tax burden likewise shifts to the new state along with them. Which is, for example, why so many people opt to move to lower-tax or no-tax states like Florida or Texas in retirement, where they can enjoy lower state income taxes and preserve more of their retirement savings for use by themselves or their heirs.

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Reliance to buy 13% of Paramount's stake in Viacom18 for Rs 4,286 crore

CFO News

Reliance Industries has agreed to purchase Paramount Global's 13.01% stake in Viacom 18 Media for about Rs. 4,286 crore, as reported in a regulatory filing by RIL. This acquisition will increase Reliance's equity stake in Viacom18 to 70.49% on a fully diluted basis, up from the current 57.48% held via Compulsorily Convertible Preference Shares.

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CFO role continues to evolve, survey says

Future CFO

The role of chief financial officers continues to evolve beyond the finance function, according to a survey by leadership advisory firm Egon Zehnder. The study , which surveyed 581 CFOs around the world, found that there is a major shift in the perspectives of financial leaders on business priorities and leadership dynamics, demonstrating aspirations to be chief executive officers.

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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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NCLT directs IIHL to complete Reliance Capital’s resolution plan within 90 days

CFO News

The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday allowed an application filed by the administrator of Reliance Capital and directed Hinduja Group-owned IndusInd International Holdings Ltd (IIHL) to implement the resolution plan for the financial services holding company by May 27.

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Employee Spotlight: Miguel Goquingco

FISPAN

In this month’s employee spotlight, we’re getting to know Miguel Goquingco, our Partner Success Manager. As part of Service Operations, Miguel works hand in hand with our bank partners to ensure operational activities are moving along smoothly. Miguel graduated with an MBA from UBC where he learned how important data is when making decisions. Prior to working at FISPAN, Miguel worked as an Enterprise Client Success Manager within the payments space.

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Startups brace for funding surge in 2024, says report

CFO News

During 2023, growth and late-stage startups chose to defer fundraising, and investors took their foot off the gas pedal owing to rising interest rates, leading to the number of mega rounds (those over $100 million) falling to only 15, compared to 48 in 2022.

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Starting Strong: A New CFO’s Guide to Navigating the First Days in Office

CFO Talks

Assuming the position of Chief Financial Officer (CFO) in a new company is a pivotal moment in any finance executive’s career. The role has evolved significantly over the years , transitioning from a focus on financial controls and Wall Street management to a more dynamic and multifaceted position. Today’s CEOs expect their CFOs to be strategic visionaries, business partners, effective communicators, and creators of value.

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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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Objective to destabilise us, says Gautam Adani on Hindenburg report

CFO News

Last January Hindenburg Research published a report against the Adani group companies alleging that the conglomerate was involved in accounting fraud, stock market manipulation, and fraudulent transactions. This triggered a massive fall in the stock prices of Adani Group companies leading to a loss of $111 billion worth of investor wealth.

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Found gross negligence by Byju's auditors: ICAI president

CFO News

ICAI found gross negligence by auditors of Byju's. FRRB will review the conduct of auditors and take appropriate action. RBI barred Paytm Payments Bank from business. Byju Raveendran was removed from the board of Byju's.

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Federal Bank, South Indian Bank stop new co-branded card issuance

CFO News

Federal Bank has three co-branded credit cards with partnerships with OneCard Scapia Technology Pvt. Ltd and FI Brand Pvt Ltd, targeting mostly the new generation customers. The bank on Wednesday said it is in the process of rectifying the areas that are deficient and will seek regulatory clearance prior to resumption of new issuance.

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RBI imposes penalty on Bank of India, Bandhan Bank

CFO News

The Reserve Bank of India (RBI) has imposed penalties on Bank of India and Bandhan Bank for non-compliance with regulatory norms. Bank of India was penalized for non-compliance with 'interest rate on deposits', 'customer service in banks', 'interest rate on advances', and contravention of Credit Information Companies Rules, 2006.

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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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India's economy expansion now a flashback of the mid-2000s' boom cycle

CFO News

Morgan Stanley's report suggests India's current economic surge resembles the mid-2000s, foreseeing a continuing investment-driven cycle. Noting high investment-to-GDP ratios, it projects a rise to 36% by FY27. Urban demand surpassing rural, reminiscent of the 2003-07 cycle, is expected to continue. India's global market share in goods and services, particularly in exports, mirrors growth seen in the mid-2000s.

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Byju’s to vacate several offices in cost-cutting drive, may give up HQ partially

CFO News

Edtech firm Byju's is undergoing cost-cutting and restructuring efforts, downsizing smaller assets and consolidating its focus on the top four to five cities. The company has identified offices and tuition centers for closure across 17 cities, reducing the count to approximately 250. Byju's faces financial challenges, including disputes with landlords over rental payments and legal issues related to a $1.

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Maruti Suzuki looking at transporting more vehicles via railways to cut down costs and reduce emissions

CFO News

Maruti Suzuki plans to increase railway transportation to cut costs and emissions. It has invested Rs 1081 crore to commission in-plant railway siding in Gujarat and aims to double production capacity to 4 million units per annum by the end of the decade.

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Utkarsh Small Finance Bank may have to pay Rs 52 crore more as income tax

CFO News

Utkasrh had been claiming taxation under the concessional tax rate regime since assessment year 2020-21 and it had been granted the said benefit in accordance with the provisions of Income Tax Act for earlier assessment years, it said.

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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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Delhi HC seeks reply from RBI, SEBI on unlawful lending practices carried by Paisalo Digital

CFO News

The Delhi High Court has sought responses from the RBI and SEBI regarding unethical lending practices by Paisalo Digital. Mukesh Arya's plea alleges violation of RBI's Master Circulars and seeks an independent inquiry and audits. Santanu Agarwal clarifies the company's stance on the matter.

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Bounce-back tips from Gautam Adani: Five mantras for entrepreneurs

CFO News

Gautam Adani, Chairman of Adani Group, shared his entrepreneurial journey and key principles for success at a recent YPO event. He spoke about the importance of resilience, managing complexity, embracing local models, withstanding criticism, and staying humble in the face of success.

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India’s capex run to continue; resembles 2003-07 period: Morgan Stanley

CFO News

India’s capex cycle is expected to continue its run, with the current uptick resembling the 2003-07 period when growth averaged 8.6%, Morgan Stanley said.

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