Mckinsey and Company
SEPTEMBER 17, 2023
The 2023 McKinsey Global Payments Report shines a light on a changing industry and explains how banks and others can capitalize on new dynamics.
Tips Watch
SEPTEMBER 17, 2023
By David Enna, Tipswatch.com This year, for the first time, I’ve soured on buying Treasury Inflation-Protected Securities at auction. Why? Because real yields have often come in a bit below “predicted” market value.
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CFO News
SEPTEMBER 17, 2023
Torrent Pharmaceuticals is in advanced talks with CVC Capital Partners to raise at least $1.2-1.5 billion for its proposed acquisition of rival company Cipla. Torrent is also engaged with Brookfield to raise $1-1.2 billion in mezzanine debt. The company's founders, the Sudhir and Samir Mehta family, are seeking to dilute equity and create a non-disposable undertaking (NDU) using their shares as collateral for loans.
Future CFO
SEPTEMBER 17, 2023
The Financial Planning and Analysis ( FP&A ) team performs budgeting, forecasting, and analysis that support major corporate decisions of the CFO, the CEO, and the Board of Directors. "Very few, if any, companies can be consistently profitable and grow without careful financial planning and cash flow management. The job of managing a corporation’s cash flow typically falls to its FP&A team and its Chief Financial Officer (CFO).
Advertiser: Paycor
Employees who feel listened to show a 64% longer commitment to tasks (Forbes). And that’s just for starters. Learn how emotionally intelligent leaders drive business results. Download Paycor’s guide for the full story.
CFO News
SEPTEMBER 17, 2023
Lee wished Prime Minister Narendra Modi on the occasion of his 73rd birthday and said the company was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time next year.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
CFO News
SEPTEMBER 17, 2023
Economists predict that India's nominal GDP growth may fall below the budgeted estimate of 10.5% for the current fiscal year, challenging the country's goal of becoming a $5 trillion economy by another year. The subdued wholesale inflation, which affects nominal GDP growth, is expected to remain low, with experts estimating it to average around 1-2% in FY24.
Future CFO
SEPTEMBER 17, 2023
Having the most talented team isn’t enough. Coaches do matter but the question is how. The post The five T's of great coaches - Part 7: Do coaches even matter? appeared first on FutureCFO.
CFO News
SEPTEMBER 17, 2023
The committee of creditors (CoC) for Future Retail (FRL) has extended the voting period once again as they are undecided on whether to approve a low offer from SpaceMantra or opt for liquidation. The creditors have until September 30 to make a decision. SpaceMantra is the only bidder to acquire FRL, offering a recovery of about 2.79% for creditors. Lenders are uncomfortable with the offer and have raised concerns about valuations and the inaccessible nature of many FRL stores.
CFO Thought Leader
SEPTEMBER 17, 2023
When Charly Kevers took his mentor’s advice and swapped a corporate development role at Hewlett-Packard for a tour of duty as a director of HP’s investor relations arm, he looked forward to tackling a variety of IR requisites, including crafting the messaging that follows a change at the top. Two years and four HP CEOs later, Kevers exited HP knowing that his IR term (with its extra helping of CEO turnover) had afforded him a stint unlike any before it at HP.
Advertiser: Acterys
Welcome to the Future of Technology for CIOs & CFOs! Ever stood on the precipice of a technological revolution, feeling the energy of change? Ever been captivated by the whispers of a software that's not just innovative but genuinely groundbreaking? Acterys unveils a groundbreaking technology tailored for CIOs and CFOs. This state-of-the-art solution streamlines data integration, analytics, and forecasting, empowering leaders to make informed decisions quickly.
CFO News
SEPTEMBER 17, 2023
The central government owns 20.8 per cent in Sidbi, while State Bank of India holds 15.65 per cent and Life Insurance Corporation 13.33 per cent. The rest of the equity is held by other public financial institutions and banks. The shareholders will subscribe to the proposed rights issue.
Barry Ritholtz
SEPTEMBER 17, 2023
Avert your eyes! My Sunday morning look at incompetency, corruption, and policy failures: • When the Homeowners Association Comes for Your Home : A spate of foreclosures filed by HOAs in Denver illustrates the potential risks of an increasingly common homeownership model. ( Citylab ) • Elon Musk by Walter Isaacson review – arrested development : Walter Isaacson’s insight-free doorstop makes at least one thing clear: the richest man in the world has a lot of growing up to do. ( The Guardian ) se
CFO News
SEPTEMBER 17, 2023
"The narrative is no longer about why India is interesting. The moot point is how to monetise this interest. We need to convert it. The cycle needs to be shortened between interest and actual investment. Our rating is only at the cusp of investing rate and that does build a little bit of conservatism among investors. I think India's rating should be at least two notches higher, if not more," said Kaushik Shaparia, CEO of Deutsche Bank Group, India.
CFO News
SEPTEMBER 17, 2023
Prime Minister Narendra Modi has launched the 'PM Vishwakarma' scheme, aimed at benefiting traditional artisans. The scheme will provide support to carpenters, blacksmiths, potters, tailors, and various other artisans across the country. It will include skill enhancement, financial incentives, marketing support, and recognition through a PM Vishwakarma certificate and ID card.
Advertiser: Paycor
Choosing an HCM partner is one of the most important decisions you’ll make because time is one of your company’s most strategic assets. How do you want to spend your time?
CFO News
SEPTEMBER 17, 2023
Vedanta Resources has $1 billion 13.875% bonds due in January 2024, $1bn 6.125% bonds due in August 2024 and $1.2bn 8.95% bonds due in March 2025. At a bondholders meeting organized by Standard Chartered Bank and JP Morgan between September 11 and 15 at Singapore and Hongkong, it proposed extending the tenure of the bonds by three years, as reported by ET on September 12.
CFO News
SEPTEMBER 17, 2023
The ‘Jaipur Call for Action’ under India’s G20 presidency has roped in Geneva-based ITC for “appropriate, aggregated, trade-related information relevant for MSMEs (micro, small and medium enterprises)” available on a single portal and a non-exhaustive list of links to relevant government websites for MSMEs.
CFO News
SEPTEMBER 17, 2023
Jeep India is actively exploring options for the electrification of vehicles in the domestic market. The company is studying different strategies to meet the needs of Indian customers and is aiming for over 90% localization in its compact SUV, Jeep Compass. Aditya Jairaj, Head of Jeep India Operations, stated that electrification is a focal point for the company and that they are finalizing their EV strategy.
CFO News
SEPTEMBER 17, 2023
The director, Sridhar Kalyanasundaram, who was appointed to the board in December last year, wrote a tell-all resignation letter to the board detailing his differences regarding rights issue of shares, complained of lack of support from other board members and raised concerns over their ‘lack of in depth banking knowledge’.
Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor
During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.
CFO News
SEPTEMBER 17, 2023
Ind-Swift was admitted for corporate insolvency on September 12 on a petition by trader creditor Allcare Containers claiming overdues of ₹3.12 crore, according to an order passed by the Chandigarh National Company Law Tribunal (NCLT). Last week, the NCLAT stayed the insolvency process till October 30 after the company said that it had settled the principal dues of Allcare but needed time to negotiate the terms of interest payment.
CFO News
SEPTEMBER 17, 2023
State Bank of India (SBI) is taking a unique approach to ensure timely repayments by retail borrowers. The bank plans to visit borrowers who are likely to default on their monthly installments at their homes unannounced, carrying a pack of chocolates as a reminder of their repayment obligations.
CFO News
SEPTEMBER 17, 2023
The ARCs have recently made a pitch to the Reserve Bank of India (RBI) to let wealthy investors subscribe to and trade in 'security receipts' (SRs) which are issued by ARCs to part-pay for loan portfolios bought from banks. These receipts are closest to 'junk bonds' in the emerging Indian financial market for stressed loans.
CFO News
SEPTEMBER 17, 2023
Advance tax collections in the first half of the fiscal year 2023-24 have increased by 20% compared to the previous year, reaching ₹3.54 lakh crore. These collections are expected to further increase as more information is received from banks. Robust advance tax numbers indicate a strong economy and healthy corporate performance. The government is likely to release official data next week.
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
CFO News
SEPTEMBER 17, 2023
Vodafone Idea has made a requisite payment of Rs 1,701 crore to the Department of Telecommunications telecom department towards 2022 Spectrum Auction Instalment.
CFO News
SEPTEMBER 17, 2023
It isn’t clear how much Kamath would invest in Ather but one of the persons said the transaction would be made through a secondary share sale.
CFO News
SEPTEMBER 17, 2023
Itc: Tata Consumer has announced it is taking its Soulfull brand of millet-based cereals to the UK in partnership with Tesco.
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