Mon.Oct 07, 2024

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A Cascade Effect On Interest rates

Global Finance

VOL. 38 NO. 9 At Global Finance , generating the report cards for central bank governors has always been a complex and thorough project. Scoring more than 100 governors from very different economies and with such different mandates for their central banks is a complex task. However, our commitment to applying similar analytical criteria for all ensures that our analysis is comprehensive and reliable, carrying important implications for the global economy.

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AI investments require the CFO’s expertise – and vice versa

CFO Dive

AI aids CFOs' top goals, with 1 in 3 finance firms using it for automation and forecasting.

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UPDATE: New CA QSR Min Wage Study. A Victory Lap.

Barry Ritholtz

@TBPInvictus here: If you’re not aware of the brouhaha that was stirred about a year or so ago when CA Gov Gavin Newsom signed into law (taking effect April 1, 2024) a new $20 minimum wage for so-called “limited service” (a/k/a fast food or QSR) restaurant workers, read up here , here , or here. In a nutshell, the usual suspects’ heads exploded well before the legislation even took effect, claiming it would lead to widespread devastation in the fast food space: job losses

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CFO compensation at recent IPO companies hits $1.2M average

CFO Dive

Setting executive compensation has become more complex for companies considering an IPO because of regulatory, legal and other factors, Alvarez & Marsal said.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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OpenAI Faces Competition From France, Japan

Global Finance

OpenAI continues to attract tons of venture capital, its accumulated take reportedly hovering at $6.5 billion most recently. And a valuation that now exceeds $150 billion might appear to give the Microsoft and Softbank-backed startup an insurmountable advantage in the generative artificial intelligence (GenAI) space. But emerging players like Paris-based Mistral AI and Tokyo-based Sakana AI are gaining ground, says entrepreneur Ilya Kulyatin, who founded Tokyo AI, a community of over 1,000 AI pr

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Kenya: High Court Quashes Privatization Law

Global Finance

Kenya’s President William Ruto has been adamant about the need to boost the productivity of state-owned enterprises (SOEs) that he says are “trapped in bureaucracy.” Last year, his government hurriedly pushed through a vastly criticized privatization law aimed at sidestepping Parliament in the sale of at least 35 entities. Now, a High Court decision declaring the 2023 Privatization Act unconstitutional has stopped the sales.

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BMO’s Climate Fellows help advance our Climate Ambition

Bank of the West

BMO employees are driving progress toward a more sustainable and resilient future through the BMO Climate Institute Fellowship program BMO’s Climate Ambition compels us to be our clients’ lead partner… Read more The post BMO’s Climate Fellows help advance our Climate Ambition appeared first on About BMO.

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CFO Corner With Iveco Group’s Anna Tanganelli

Global Finance

Since December 2023, Anna Tanganelli has served as Chief Financial Officer of Iveco, the commercial vehicles business that was spun off from CNH industrial in 2021. Tanganelli started her career at UBS, then moved to Fiat Chrysler Automobiles (FCA), where she held various roles, primarily in Business Development and M&A. In 2019, she was appointed CFO and Head of M&A for Magneti Marelli and CFO for the EMEA region within the broader Marelli Group.

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Forecast: The next I Bond fixed rate should be 1.20%

Tips Watch

But there is danger of an ‘outlier’ decision by the Treasury. By David Enna, Tipswatch.com It’s already Oct. 7 and we are closing in on Treasury’s November reset of the fixed and variable rates for U.S. Series I Savings Bonds.

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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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Wealth.com Raises $30M To Provide Estate Documents To Advisors’ Clients (And More Of The Latest In Financial #AdvisorTech – October 2024)

Nerd's Eye View

Welcome to the October 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that digital estate planning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which

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Norway: Electric Car Ownership Outnumbers Gas Cars

Global Finance

In a global first, the Norwegian Road Federation (OFV) said last month that electric vehicles (EVs) now outnumber gas-powered models in the country. Out of 2.8 million private cars currently registered, 754,303 are fully electric, surpassing the 753,905 running on petrol. The news came on the heels of another record; EV sales in Norway took a 94% market share in August.

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Instantia partners with ION FX for trade execution and risk management

Reval

LONDON – 08 October 2024: ION, a global leader in trading and workflow. The post Instantia partners with ION FX for trade execution and risk management appeared first on ION.

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Intel In Crosshairs Of Apollo, Qualcomm

Global Finance

Apollo Global Management has expressed interest in buying Intel; industry heavyweight Qualcomm was earlier reported to be considering a takeover of the Santa Clara, California-based semiconductor behemoth. Benchmark tech analyst Cody Acree argues that a private equity firm like Apollo is a better fit for struggling Intel. “Who benefits from Intel’s resurgence other than a core investor?

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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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10 Monday AM Reads

Barry Ritholtz

My back from vacay morning reads: • Pandemic Start-Ups Are Thriving, and Helping to Fuel the Economy : A record surge in new businesses has helped drive job growth, and could have longer-term benefits. ( New York Times ) • Fidelity: Twitter is worth 80% less than 2 years ago when Elon Musk bought it. That’s according to estimates from investment giant Fidelity: As of the end of August, the firm is worth just $8 billion, according to a Sunday filing by Fidelity’s Blue Chip Growth Fund.

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Sports Betting: FanDuel Parent Wields M&A To Expand

Global Finance

Flutter, the Dublin-based parent of FanDuel, bought Italian gambling service Snaitech last month for $2.6 billion, hard on the heels of its purchase of a majority stake in NSX Group, one of Brazil’s biggest gambling operators. The sports betting giant spent roughly $3 billion in total; both acquisitions are expected to close in the second quarter of 2025.

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Malaysian e-commerce market to reach $14.7 billion by 2028, study says

Future CFO

The Malaysian e-commerce market is expected to grow at a compound annual growth rate (CAGR) of 8.5% between 2024 and 2028 to reach MYR67.1 billion ($14.7 billion) in 2028, according to data and analytics company GlobalData. According to GlobalData's E-Comerce Analytics, the anticipated spike is driven by the ongoing shift in consumer preference from offline to online shopping.

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India Bails Out The Maldives

Global Finance

India last month extended the fiscally precarious Maldives a $50 million interest-free loan, helping stave off a potential default on $500 million in Sukuk bonds. The loan will support coupon payments due this month. The bonds, issued in 2021, were subscribed by countries including Egypt, Pakistan, South Africa and the UK. Sukuk bonds comply with Islamic law , offering investors a way to generate returns without violating the prohibition on interest.

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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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From One Young World delegates to emboldened ambassadors of change: Wrapping up the 2024 One Young World Summit 

Bank of the West

Big progress requires bold thinking, and the next generation of changemakers are at the forefront of that thinking, driving new ideas forward that will change the future for the better… Read more The post From One Young World delegates to emboldened ambassadors of change: Wrapping up the 2024 One Young World Summit appeared first on About BMO.

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Dealmaker-In-Chief: Unicredit CEO Andrea Orcel

Global Finance

True to his reputation as a consummate dealmaker, Unicredit CEO Andrea Orcel is orchestrating one of the largest cross-border bank mergers ever in Europe. Last month, Unicredit swiftly and dramatically raked up a more than 20% stake in Germany’s second-largest listed lender, Commerzbank. Should the takeover go through, it would create one of the largest lenders worldwide, reshaping the banking sector in Europe.

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Securitisation volumes in India touch Rs 60,000 crore in Q2 FY25: Report

CFO News

The securitisation volumes of standard assets in India reached Rs 60,000 crore in the July-September period in FY25, a growth of 36 per cent on quarterly basis and 31 per cent on year-over-year basis, according to a report on Monday.

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Veteran Nike Executive Taking Reins Of Shoe Giant

Global Finance

After four years in command at Nike, CEO John Donahoe is handing over the helm to Elliott Hill, a 60-year-old executive who has spent more than half his life at the footwear empire. Hill joined Nike in 1988 as an intern and was heading commercial and marketing operations for Nike and the Jordan brand when he retired after 32 years in early 2020, just as Donahoe’s tenure started.

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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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At $19 billion, India Inc sees highest quarterly deal volumes in 2 years

CFO News

India Inc saw 551 deals worth $19 billion in the July-September period, clocking highest quarterly deal volumes in two years, a report showed on Monday.

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Sri Lanka: New President Wins In An Upset

Global Finance

In a massive political upset, a neo-Marxist political outsider won September’s presidential election in Sri Lanka. The victory of Anura Kumara—widely known by his initials, AKD—and his People’s Liberation Front (JVP) represents a complete defeat for the country’s traditional elite. It also casts a long shadow of uncertainty over a country emerging from its most crippling economic crisis since independence.

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Indian alcoholic beverages industry to see 8-10 pc sales growth in FY25

CFO News

The domestic alcoholic beverages industry is likely to see 8-10 per cent revenue in FY25, led by steady demand for beer and a revival in consumption of spirits, along with increasing consumer preference for premium products, a report said on Monday.

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Companies signal pullback on Israel-Gaza philanthropy: Conference Board

CFO Dive

As the conflict enters its second year, some companies will likely wind down funding commitments amid concern about backlash to corporate policies, the Conference Board’s Andrew Jones said.

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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.