Sun.Mar 12, 2023

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The Reformed Broker

I feel pretty confident in making this call, and I don’t make market calls very often: We have seen the top for 2-year Treasury yields. It’s not going any higher than it’s been because there’s no reason for it to. Financial conditions are now contracting hard due in part to the events of this week but also because monetary policy operates on a lag – and the first Fed Funds hike of the cycle.

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BajajCapital appoints Shekhar Sood as the new CFO

CFO News

Shekhar brings a wealth of experience to BajajCapital, having held senior finance positions at leading organizations including Socomec Group, where he served as the CFO India and Business Controller for the Asia-Pacific region, and Grant Thornton.

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • In the Hunt for Fraud, the Red Flags Start With the Auditor : With its Adani report, Hindenburg zeroed in on the tiny firm’s thin staff and client roster. ( Institutional Investor ) • Norfolk Southern’s accident rate spiked over the last decade : An analysis of federal railroad data shows accidents rising as investigators probe the company’s “safety culture.” ( Politico ) • Why Pov

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Inflation expected to come down over the year: RBI MPC member Ashima Goyal

CFO News

"Government supply-side action coordinated with a flexible inflation targeting regime has kept Indian inflation rates lower than other countries and our own past averages even in this period of major adverse external supply shocks," she told PTI in a telephonic interview.

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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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The best technologies for categorization in planning and budgeting software

Spreadym

Categorization refers to the process of organizing items into groups based on shared characteristics. In the context of companies and their products, categorization is the process of organizing products into groups based on similar characteristics or attributes. For example, a retail company clothing may categorize its items by type of product, by location of the shop, by distribution center that supply several or so on.

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Asian economies to see modest growth this year

Future CFO

Asian economies are on course for modest growth this year as they try to shake off the negative effects of tighter financial conditions, inflation, a weak global economic environment and geopolitical tensions, said Atradius recently when releasing its 2023 Regional Economic Outlook Report. Except for China and Thailand, most Asian economies will likely see lower real GDP growth this year than in 2022, Bert Burger, Principal Economist, Atradius noted.

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Sula Vineyards CFO Bittu Varghese resigns

CFO News

Varghese decides to resign from Sula Vineyards to pursue other opportunities outside the organisation.

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Why the mid-market should push for parity

Future CFO

This year’s Women in Business report – The Push for Parity shows that globally, 32.4% of senior management positions are now held by women. At this rate, just 34% of senior leadership positions will be held by women in 2025. Grant Thornton's research suggests that mid-market businesses must push for parity, and quickly, in order to remain robust, resilient and relevant in the ever-changing market.

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SVB’s research unit expects business to continue as normal

CFO News

SVB became the biggest US lender to fail in more than a decade on Friday, after a tumultuous week that saw an unsuccessful attempt to raise capital and a cash exodus from the startups that fueled its rise. California state watchdogs took possession of the bank, which was valued at more than $40 billion as recently as last year.

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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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My schedule … and what’s coming next

Tips Watch

By David Enna, Tipswatch.com I am traveling for the next 2 1/2 weeks in a far-off land with a Mediterranean climate (I hope this applies to March), a beautiful coastline, amazing historical sites and hearty foods like Čobanac.

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Signature Bank becomes next casualty of banking turmoil after Silicon Valley Bank

CFO News

The Federal Deposit Insurance Corporation (FDIC) took control of Signature, which had $110.36 billion in assets and $88.59 in deposits at the end of last year, according to New York state's Department of Financial Services. All of the depositors of Signature Bank and Silicon Valley Bank will be made whole, and "no losses will be borne by the taxpayer," the U.S.

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Insider Insights: What Attracted Our Team to FocusCFO

Focus CFO

Hear directly from FocusCFO associates as they share their personal stories and experiences about what attracted them to the organization.

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Ten more banks set to join syndication for Reliance Industries Ltd's $3 billion loan

CFO News

The fundraising, the largest through syndicated term loans by an Indian corporate house in at least five years, is set to close this month after months of negotiations, bankers said.

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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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SVB Bailed Out by US Government

CFO Share

FDIC, The US Treasury, and the Federal Reserve issued a joint statement Sunday March 12th, 2023 guaranteeing all deposits at the insolvent Silicon Valley Bank (SVB.) Thousands of small businesses will be able to access their full deposit account value starting Monday March 13th, 2023. The extraordinary announcement guarantees the full value of all deposits, including amounts over the normal $250k FDIC insurance limit.

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Govt to infuse more capital in public sector general insurers next year

CFO News

The government last year provided Rs 5,000 crore capital to three insurers --National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company.

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The inside scoop on bottom-up planning

Cube Software

For any company, planning is critical.

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Cigarette, alcohol sales shine in inflation-hit weak FMCG market

CFO News

Stability in taxes and stringent action by the government on illicit and smuggled cigarettes helped expand the size of the duty-paid cigarette market. There was no steep increase in taxes on cigarettes since July 2017. The government increased taxes in the latest budget, but the net impact of it is less than 1%.

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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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Tax mop-up likely to fall short of revised estimate: Official

CFO News

The revised estimates (RE) for the current fiscal pegged gross tax revenues at Rs 30.43 lakh crore, higher than the budget estimates of Rs 27.57 lakh crore. On the direct tax side, the official said, "The RE was quite steep. we are expecting a shortfall. The net collections could be between Rs 15-15.5 lakh crore.

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Air India is like a startup as it’s being reinvented, says CEO Campbell Wilson

CFO News

Wilson looks for deep cultural changes as Air India, under the Tata Group since January 2022, has embarked on refurbishing its fleet, website, operations, revenue and data management, and even staff. Most recently, it has placed an order for 470 planes.

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Union IT minister to meet Indian startups amid concerns over Silicon Valley Bank collapse

CFO News

Union minister of state for IT Rajeev Chandrasekhar said on Sunday he will meet startups this week to asses the impact on them following the collapse of US-based Silicon Valley Bank.The meeting comes amid rising concern over the rippling effect of the bank's collapse on startups across the world, including India.

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Biden World Bank pick Ajay Banga urges private lenders to step up

CFO News

The World Bank needs to leverage its current balance sheet and maximise existing resources, but the total resources of development banks are in the billions of dollars, short of what's needed to boost prosperity and deal with rising challenges, said Ajay Banga, a former Mastercard Inc. chief whom Biden nominated last month.

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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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Adani Group clears dues on margin-linked share-backed loans of $2.15 billion

CFO News

This is in line with promoters’ commitment to increase equity contribution, and promoters have now infused $2.6 billion, out of total acquisition value of $6.6 billion for Ambuja and ACC,” the release by the Adani Group said. The entire prepayment program meof $2.65 billion has been completed within 6 weeks.

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