Wed.Jul 12, 2023

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Embattled EV maker Faraday replaces interim CFO

CFO Dive

The electric vehicle maker’s new interim CFO, Jonathan Maroko, is replacing Yun Han, who resigned from the top finance role. The company announced it will also be restating certain financial reports.

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Navigator Business Solutions Announced as one of Bob Scott’s VAR Stars 2023

Navigator SAP

Navigator Business Solutions has been named to the Bob Scott’s Top 100 VARs for 2023.

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Why all CFOs need to be prepared for bank capital requirement changes

CFO Dive

With banks potentially undergoing capital requirement changes, CFOs need to be hyper-aware when it comes to the financial health of their businesses, according to Northern Edge Advisors’ president.

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Promoters must disclose family pacts: Sebi

CFO News

In its notified rules, the capital market regulator Securities and Exchange Board of India (Sebi) has said that agreements that subsist as of the date of notification are to be disclosed to the stock exchanges. It was earlier understood that only prospective agreements must be disclosed, not retrospective.

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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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Brainard calls for executive accountability on rate risks and price spirals

CFO Dive

“It will be important for corporations to continue to bring their markups back down after having raised them to unusually elevated levels over the past two years,” the former Fed vice chair said.

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Slowing inflation unlikely to avert Fed rate hike

CFO Dive

Traders in interest rate futures see 95% odds that the central bank will increase the federal funds rate by a quarter percentage point on July 26.

Banking 231
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Innovation backed by digitalization is key to enterprise growth, say CFOs

CFO News

Digitalisation: While there are efforts to transform finance functions, CFOs are also making sure there is an apt integration of finance and tax functions.

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GlobalFoundries, CFO designate part ways

CFO Dive

The company and former Amazon executive Tim Stone mutually agreed to scrap plans for him to take over as CFO.

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28% GST may lead to collapse of Indian gaming industry, benefit offshore platforms: Witzeal Tech VP

CFO News

Heavy taxation on the entire bet value could lead to financial difficulties for gaming platforms and a reduction in winnings for players, says Aman Gupta

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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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Annual U.S. inflation falls to 3.0%. Is this what the Fed was looking for?

Tips Watch

By David Enna, Tipswatch.com The just-released June inflation report is going to be greeted with glee, I think. It was exactly what the stock and bond markets were hoping for. What happened?

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India’s retail inflation jumps to 4.81 per cent in June on higher food prices

CFO News

Retail inflation accelerated for the first time in five months in June on the back of a jump in vegetable prices.

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Business optimism on an upswing

Future CFO

Business optimism is on an upswing despite inflation, geopolitical instability, and talent disruptors, said Deloitte recently. According to the Fortune/Deloitte CEO Survey series, CEOs’ growth expectations have ticked up from Fall of 2022, with 45% expecting strong or very strong growth, while pessimism toward the global economy has declined. The survey was done during Feb 14-21, 2023, collecting responses from 149 CEOs representing more than 15 industries, according to Deloitte, adding that tho

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40 gaming companies may get fresh GST notices

CFO News

Officials said liabilities in the case of the 40 online gaming companies could add up to Rs 10,000 crore. The authorities had been awaiting clarity from the GST Council on taxing online gaming companies, said the people cited above.

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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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Manufacturing KPIs To Track Operational Excellence

CFO Selections

Key Performance Indicators (KPIs) help measure the performance and effectiveness of different areas within a company. KPIs are very specific to each industry and company. The best KPIs will depend on the company's specific goals and objectives. In a manufacturing context.

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TCS rolls out salary hikes

CFO News

"We have gone ahead and rolled out our annual salary increase with effect from April 1st. Our operating margin of 23.2% reflects the 200-bps impact of this hike, offset through improved efficiencies," TCS CFO Samir Seksaria said.

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NetSuite Integration Cuts Budgeting Time in Half

Lime Light

Most businesses in the U.S. rely on hundreds of spreadsheets and their ERP to perform FP&A- which is scary considering that a staggering 88% of spreadsheets contain errors. This translates into the annual budget process and other critical FP&A tasks taking longer , producing inaccurate results, and potentially misrepresenting or obfuscating critical data that can drive high-return decisions.

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Administrator files Hinduja’s resolution plan for Reliance Capital at NCLT

CFO News

In the first auction on December 21, Torrent Investments made the highest offer of Rs 8,640 crore, while the Hinduja Group entity offered Rs 8,110 crore. However, within 24 hours, the Hinduja entity gave a revised, improved offer of Rs 9,000 crore, a development contested by Torrent.

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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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915: Where Finance Always Comes First | David Parsons, CFO, Zuto

CFO Thought Leader

When David Parsons tells us that he remains concerned about the whereabouts of his 20-something-year-old self, we realize that our talk with Zuto’s CFO is going to be different from most of those that we undertake with today’s finance leaders. According to Parsons, “Thirty-nine-year-old Dave is looking at mid-20s Dave and asking, ‘What are you thinking?!

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India, UK trade ministers discuss FTA’s thorny issues resolution, low hanging fruits

CFO News

India and the UK have focused on resolving challenges during low-hanging fruits negotiations that included closing several chapters, the Indian government has revealed. Minister of Commerce and Industry Piyush Goyal and the UK's Secretary of State for Trade Kemi Badenoch discussed opportunities for mutual trade advancement and collaboration.

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Raiffeisen Bank International adopts ION’s messaging solution to meet TARGET2 and SWIFT CBPR+ ISO 20022 standards

Reval

LONDON – 12 July 2023: ION, a global leader in trading, analytics, treasury, The post Raiffeisen Bank International adopts ION’s messaging solution to meet TARGET2 and SWIFT CBPR+ ISO 20022 standards appeared first on ION.

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Patanjali Foods launches OFS, promoter to offload up to 9% stake

CFO News

Patanjali Ayurved will offload about 2.53 crore equity shares under the OFS, which represents 7% stake, and in the case of oversubscription, the promoter is planning to sell additional 2%.

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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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Introducing Bank Feeds with BMO: Streamlining Financial Workflows for Businesses

FISPAN

In this post, we'll delve into the world of Bank Feeds, and how they can transform financial workflows for BMO’s corporate clients.

Banking 52
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Brought GST under PMLA purview to empower investigators in fighting financial fraud: Centre

CFO News

The Centre's move to bring the Goods and Services Tax Network (GSTN) under the purview of Prevention of Money Laundering Act (PMLA) was to empower the relevant investigating agencies to deal with tax fraud and money laundering matters, and not giving outright access to data to any party, said revenue secretary Sanjay Malhotra.

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Mapping Changes in US Home Prices

Barry Ritholtz

Source: Reventure Let’s get to the caveats up front: Re:Ventures has been pretty bearish on housing the past few years, even forecasting a crash; their landing page claims “ The US Housing Market is in a record Bubble in 2023 ,” and this post “ 90% Chance: RECESSION in 2022? ” has not panned out and stands inapposite of my views.

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India proposes ease of business norms at G20

CFO News

The first draft revised declaration, to be discussed by the G20 sherpas at their third meeting under the Indian presidency beginning Thursday, has also received overwhelming backing from all members on Prime Minister Narendra Modi's proposal to include the African Union as a member.

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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.