Fri.Jun 09, 2023

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Will AI Save the World?

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jill Schlesinger, and Downtown Josh Brown discuss whether or not the bear market is over, the chances of Jamie Dimon running for president, Apple’s WWDC product unveil, the accredited investor rule, Artificial Intelligence, the state of the economy, and much more!

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Building resilience, funding sources critical to riding out a storm

CFO Dive

The more efficiently you run your operations, the longer your company’s cash cushion will last. Industry-specific tools can help, Luke Voiles writes.

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What is FDA Software Validation?

Navigator SAP

The life sciences are not like pens or bras. When a pen is manufactured incorrectly or suffers from shoddy inputs, a consumer just pulls out a different pen. When a life sciences product deviates from specs, be it a pharmaceutical or medical device, public health is affected and the defect might not even be readily observable. This reality is why life sciences companies are regulated by the Federal Drug Administration (FDA), and it is why they must follow good manufacturing practices (GMP) so th

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3 CFO tips for raising productivity: McKinsey

CFO Dive

By taking steps toward streamlining and adaptation, companies can reverse a slump in U.S. productivity and increase profits and employee wages, McKinsey said.

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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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DGFT offices for investment, trade promotion only, says Piyush Goyal

CFO News

Speaking at a Federation of Freight Forwarders Associations in India (FFFAI) event, he asked the industry to stop practices such as adding non-transparent and miscellaneous charges to their bills, try and break the queue or avoid quality inspections.

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Saudi Arabia’s Middle America Makeover

Global Finance

Global Finance Magazine - Profit overrides principle with the recent PGA-LIV Golf& deal; expect more M&A in sports and other sectors.

Finance 88
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Weekend Reading For Financial Planners (June 10-11)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the House has passed legislation that would expand the definition of who qualifies as an accredited investor eligible to invest in certain private investments to include those who pass an exam designed by the SEC, and those with certain licenses or educational backgrounds, including financial advisors.

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Adani's proposed Air Works deal has long passed its stop date, says Crisil

CFO News

Adani Group's proposed acquisition of aircraft maintenance firm Air Works has passed its long stop date and the two companies are not discussing an extension, ratings agency Crisil has said. The acquisition plan, worth INR400 crore ($53m), was aimed at boosting Adani's airports business, although no reason was given for the deal's collapse. Crisil had put Air Works' ratings on watch following the proposed acquisition by Adani, although these have now been restored.

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ION Markets algo trading solutions recognized with three TradingTech Insight Awards

Reval

LONDON – 09 June 2023: ION, a global leader in mission-critical trading and. The post ION Markets algo trading solutions recognized with three TradingTech Insight Awards appeared first on ION.

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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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Go First lenders select EY-backed Ajmera as RP

CFO News

Ajmera's selection is subject to approval from the National Company Law Tribunal (NCLT). The selection was communicated at a meeting of the committee of creditors of Go First on Friday. If approved by NCLT, Ajmera will replace an interim resolution professional who is currently running the company and was originally recommended by Go First's former management, according to sources aware of the matter.

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ED issues show-cause notice to Xiaomi India top officials, 3 banks

CFO News

The adjudicating authority under the Foreign Exchange Management Act has issued show-cause notices to Xiaomi Technology India Private Limited, the two executives, CITI Bank, HSBC Bank and Deutsche Bank AG, the agency said in a statement.

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General counsels in high demand, pay soars

CFO News

Large companies and conglomerates are willing to pay ₹2-4 crore to an in-house legal head, which in some cases may go up to ₹5-6 crore for top-notch professionals in the field. There is a huge demand for legal experts who are specialists in M&A, compliance, cyber security and digital, said executive search consultants.

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Domestic GDP growth on firm footing, growth slightly revised upwards: SBI study

CFO News

State Bank of India (SBI) reports that India's domestic GDP growth is robust due to increasing urban demand, however, lagging rural demand remains a concern. The lender has revised GDP growth upwards from 6.4% to 6.5% for the current financial year.

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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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CEA against concept of Universal Social Security as it may generate 'perverse incentives'

CFO News

The Chief Economic Advisor of India, V Anantha Nageswaran, has rejected the idea of Universal Social Security for the country, saying it would create “perverse incentives” and discourage citizens from seeking opportunities to generate income. Nageswaran added that Universal Social Security would not be necessary in India as the country needed to focus on economic growth to fulfil its people’s aspirations.

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Allcargo Logistics closes 30% stake purchase from KWE in Gati subsidiary

CFO News

Allcargo Logistics has acquired an additional 30% stake in Gati-Kintetsu Express, buying 150,000 shares for Rs 406.71 crore ($54.3m). This now gives the firm full control over the Indian express logistics company, after Allcargo's subsidiary, Gati, purchased a 70% stake.

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Mobile GST hike gives government more than PLI outlay: Industry Executives

CFO News

In fact, the five-year smartphone PLI scheme will leave a revenue surplus of ₹11,000 crore if only the Centre's GST (goods and services tax) collections are taken into consideration, industry body India Cellular and Electronics Association (ICEA) said in a June 5 letter to the finance ministry. The government increased the GST on mobile phones to 18% from 12% on April 1, 2020, the day the smartphone PLI scheme was announced.

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Logistics company Western Carriers files draft papers with Sebi for IPO

CFO News

Western Carriers, a logistics service provider with over 50 years of experience, has filed draft papers for an initial public offering (IPO) to raise funds through a fresh equity issue of up to Rs 500 crore and an offer for sale of 93.28 lakh shares by the promoter. The company operates on an asset-light business model and provides 3PL and 4PL logistic solutions.

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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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Lenders call Byju’s lawsuit ‘meritless’, an effort to avoid obligations

CFO News

After filing suit against American investment management firm Redwood and its entities, Byju’s missed its quarterly interest payment of about $40 million for the TLB, which was due by June 5.

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SaaS firm Plotch launches ONDC-focused accelerator in collaboration with Microsoft

CFO News

Plotch.ai said it will actively work with Microsoft to evaluate, select, launch and scale startups which are focused on building the ONDC ecosystem as well as creating new and disruptive tools and technologies. This may include AI based startups for better local language enabled search for products, enhancement of catalog using openAI models, conversational storefronts for voices enabled shopping etc.

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Central Bank Digital Currency QR codes will be interoperable with UPI: RBI

CFO News

Last year, RBI issued the e-rupee as a pilot project, joining a select list of countries which have launched their own CBDC. The wholesale CBDC was the first to be launched, and this was followed by a retail CBDC.

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Undue harassment of genuine MSME online sellers by GST officials 'not justified', says industry

CFO News

MSME firms, particularly online sellers, are reportedly facing increased challenges with GST compliance. The Central Board of Indirect Taxes and Customs' special drive to combat fake GST registration has raised concerns among industry players who cite growing cases of harassment by tax officials.

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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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Corporates' capital outlays, banks' credit offtake to gain traction: IDBI’s Dy MD on MPC’s move

CFO News

Monetary tightening over the recent past had seen corporates turn cautious in their approach towards drawing up capital outlay plans. These plans will now see a better traction, which eventually also augurs well for the banking industry as well. A higher credit off take portends a stronger growth scenario for the industry.

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Pharmaceutical industry expected to see positive growth this year: Charu Sehgal, Deloitte India

CFO News

According to Charu Sehgal, the market expectations are on similar lines as indicated by the stock prices which for many pharma companies had risen by 20-30% in Apr’20 compared to the Q3FY20 period.

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We expect growth to continue for financial stocks: Gautam Duggad

CFO News

​The rest of the sectors were pretty much stable. So that is how you saw about 20 bps decline, 70 bps drag from global commodities and 50 bps lift from financials and auto.

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Go First: Committee of Creditors now in place; approval for revival plan likely soon

CFO News

According to the source, the new resolution professional is expected to be appointed on June 12, and the lenders have suggested one name each from KPMG and EY.

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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.