Wed.Aug 09, 2023

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6 CFO tips for handling the backlash against ESG

CFO Dive

The ESG backlash has compelled companies to alter their sustainability strategies, including ensuring close alignment with core business goals, the Conference Board said.

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What Earnings Recession?

Barry Ritholtz

My RWM colleagues Josh Brown and Michael Batnick do a bang-up job each week diving into the specifics of the newsflow in What Are Your Thoughts? Don’t miss my favorite chart from this week’s discussion 46 minutes deep into the episode ; its from Bank of America by way of Batnick (above). All of the fall-off surrounding the 8% pullback in S&P 500 profits — literally, more than 100% of it — is due to the huge drop in energy profits.

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Trending Sources

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Tesla CFO walks away with $590M

CFO Dive

The former Tesla finance chief is leaving with millions in company stock and options as the EV maker faces stiff industry competition.

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RBI maintains status quo on repo rate, continues pause at 6.5%

CFO News

RBI maintained status quo with repo rate on pause in its previous two monetary policy meeting held in April and June 2023. However this time global economic uncertainties and inflation are driving this decision. The rate has been hiked by 250 bsp (2.5 per cent) since last year May 2022. The MPC headed by Governor Shaktikanta Das on June 8, 2023 continued the stance on withdrawal of accommodation.

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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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WhatsApp at center of $289M fines imposed on Wells Fargo, others

CFO Dive

The penalties bring to $1.5 billion the amount companies have paid since the SEC launched an initiative in 2021 to curb employees' use of off-channel messages.

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More Trending

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LeaseQuery expands into SaaS management in Stackshine buy

CFO Dive

The deal comes as many companies grapple with how to rein in out-of-control SaaS spending.

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FCF at the Tech Tour NRW Green 2023 in Dusseldorf on 19 September, 2023

Fox Corporate Finance

September 19, the Tech Tour Green 2023 Programme will take place in Dusseldorf with an exciting live event. The Tech Tour NRW Green Programme is designed to help start-ups based in North Rhine -Westphalia region developing tech solutions in the broad. Read more The post FCF at the Tech Tour NRW Green 2023 in Dusseldorf on 19 September, 2023 appeared first on FCF Fox Corporate Finance GmbH.

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Flywire CFO to step down

CFO Dive

The company and CFO Mike Ellis “have come to a mutual understanding that the next phase of growth for Flywire needs new leadership in the Finance, Global Treasury & Public Markets area,” a spokesperson said of Ellis’s exit.

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Impact of a major cyber incident: 9% drop in shareholder value 

Future CFO

The impact of a major cyber incident is on average a 9% drop in shareholder value — over and above the market — in the year following the event, said Aon recently when releasing its 2023 Cyber Resilience Report. The report is based on proprietary client data collected from Aon’s Cyber Quotient Evaluation (CyQu), Aon’s Ransomware Supplemental Application and Aon’s Operational Technology Application, Aon noted.

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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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Weather, veggies and peer pressure: All that can shape RBI MPC’s rate verdict

CFO News

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) is expected to keep the repo rate fixed and maintain its withdrawal of accommodative stance when it makes its policy announcement on August 10. The RBI is most likely to focus on how it will be coping with the rising inflation print.

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FCF Healthcare & Life Sciences Venture Capital Monitor – Europe – 07/2023 published

Fox Corporate Finance

FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF Healthcare & Life Sciences Venture Capital Monitor – Europe 07/2023”. The Monitor is a monthly published overview of venture capital trends in the European. Read more The post FCF Healthcare & Life Sciences Venture Capital Monitor – Europe – 07/2023 published appeared first on FCF Fox Corporate Finance GmbH.

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New law on digital competition likely to regulate Big Tech

CFO News

An official committee under corporate affairs secretary Manoj Govil - set up to examine the need for any ex-ante regulatory mechanism for digital markets through a separate law and to study international best practices, among others - is set to complete the initial drafting of its report this month.

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FCF @IMPACT FESTIVAL from 13./14. September 2023 in Frankfurt/Offenbach

Fox Corporate Finance

From September 13 to 14, 2023, the IMPACT FESTIVAL, Europe’s largest B2B event for sustainable innovation, will take place in Frankfurt/Offenbach. Around the extensive 2-day program there will again be workshops, lectures, the presentation of. Read more The post FCF @IMPACT FESTIVAL from 13./14. September 2023 in Frankfurt/Offenbach appeared first on FCF Fox Corporate Finance GmbH.

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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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Auto companies flag local value addition math under PLI

CFO News

A minimum 50% domestic value addition (DVA) is a key condition for companies to qualify for subsidies under the scheme. The intention is to promote local manufacture of new technology products such as electric vehicles (EV) rather than subsidising imports.

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FCF at the Tech Tour NRW Green 2023 in Dusseldorf on 19 September, 2023

Fox Corporate Finance

September 19, the Tech Tour Green 2023 Programme will take place in Dusseldorf with an exciting live event. The Tech Tour NRW Green Programme is designed to help start-ups based in North Rhine -Westphalia region developing tech solutions in the broad. Read more The post FCF at the Tech Tour NRW Green 2023 in Dusseldorf on 19 September, 2023 appeared first on FCF Fox Corporate Finance GmbH.

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FMCG companies fight for market share with 'agile' small peers

CFO News

Smaller local players in India, such as Parle, Britannia and Hindustan Unilever, have entered the biscuit, tea, detergent, oil and snacking sectors, nibbling away at larger companies' market shares as the price of raw materials has lowered. During deflationary times, regional rivals give more value to consumers by offering extra grammage and are more nimble with product launches.

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10 Wednesday AM Reads

Barry Ritholtz

My mid-week morning train WFH reads: • Short Seller Hindenburg Nabs Tiny Gains Off $173 Billion Carnage : Nate Anderson has wiped out as much as $99 billion from three billionaires’ wealth this year. ( Bloomberg ) • Inflation and the cost of tighter monetary policy Data on the financial burden of US households. What would the costs have been if rates had not risen?

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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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Zee-Sony Merger: NCLT to pronounce its order today

CFO News

The National Company Law Tribunal’s Mumbai bench will announce its verdict on the proposed merger between Zee Entertainment and Culver Max Entertainment (Sony) on Thursday. In July, the NCLT bench reserved its order in response to objections raised by financial and operational creditors.

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IRS Notice 2023-54 Provides Welcome Relief To 10-Year Rule Beneficiaries And Retirement Account Owners Born In 1951

Nerd's Eye View

The original SECURE Act, signed into law in December 2019, changed many of the long-standing rules governing IRAs and other retirement accounts, and no single measure in the legislation had a more seismic impact on planning than the changes to the post-death distribution rules for retirement accounts. Specifically, the law stipulated that "Non-Eligible Designated Beneficiaries" (i.e., designated beneficiaries who are neither surviving spouses nor fall into a limited number of other categories) w

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Adani Group weighs stake sale in FMCG joint venture with Wilmar

CFO News

The 50:50 joint venture (JV) between Adani and Wilmar was set up in 1999. The company raised Rs 3,600 crore by way of an initial public offering in February 2022, bringing the stake of the two JV partners down to 43.97% each.

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GeM enabled govt to save over Rs 45,000 crore since 2016: Commerce ministry

CFO News

The Indian government's e-procurement portal, GeM, has helped the government save over Rs 45,000 crore since its launch in 2016, according to the commerce ministry. The online marketplace platform has facilitated efficient procurement for government departments, organisations and PSUs.

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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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Reliance ARC files plea against Vidarbha Industries’ debt sale

CFO News

In its petition, Reliance ARC has raised concerns over the Swiss Challenge Auction process, according to a lawyer source. The concern is that when an ARC makes a bid to buy a troubled asset or a nonperforming asset (NPA), it automatically becomes an initial bidder and this gives the ARC the exclusive right to match any bid that comes in during the Swiss Challenge Process, the lawyer explained.

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Vi now seeks time till Dec to clear its statutory dues

CFO News

Vodafone Idea has requested an extension until the end of December to clear all of its outstanding statutory dues citing liquidity issues and slower fundraising. In a reply to the Department of Telecommunications input, Vodafone Idea said it hopes to secure cash from banks and third party investors in the near future, and its promoters are committed to supporting the business.

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ICICI Lombard gets Rs 273 crore GST demand notice

CFO News

"The matter largely relates to an industry-wide issue on applicability of GST on salvage adjusted and ineligible input tax credit, on motor claims settled. The company has deposited Rs 104,13,18,970 under protest, without accepting any liability in this regard," it said.

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Cabinet approves CGST Act amendment to implement 28% GST on online gaming

CFO News

The Indian cabinet has given the green light to amend the Central Goods and Services Tax Act so as to allow for the introduction of a 28% goods and services tax rate on horse racing, online gaming and casinos, according to unnamed insiders. Although states will need to amend their individual GST legislation separately, the new tax system will go live from 1 October if all is passed in parliament in time.

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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.