Sun.Jul 07, 2024

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Why Hasn’t the California Globe Retracted Its Story?

Barry Ritholtz

@TBPInvictus here If you’re tired of California-minimum-wage-and-its-impact-on-limited-service-restaurant-employment stories, I understand. Leave this page immediately. I’m tired of it, too, but some stories are so factually challenged that they demand a response. So, allow me to address a hot mess of a story that appeared recently in the California Globe.

Math 135
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Hindenburg shared Adani report with client two months before publishing it: Sebi

CFO News

Sebi charged Hindenburg of making "unfair" profits from "collusion" to use "non-public" and "misleading" information and induce "panic selling" in Adani Group stocks.

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Trending Sources

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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • “The Bear” confronts Carmy’s nightmare: A boss who believes in creating excellence through pain : Bosses like Joel McHale’s NYC chef, who haunted Carmy and this show’s viewers since the start, are all too common. ( Salon ) • Why GPS Is Under Attack : The Global Positioning System runs the modern world.

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On this season of corporate earnings, Nifty50 companies likely to give solid show

CFO News

Nifty 50 companies expect double-digit June revenue, profit growth, with net profit up 26.4% and 20.6% operating margins. Noted sectors' improvements, geopolitical concerns, Maruti Suzuki's volume growth, credit growth issues, moderate inflation effects, and rural consumption. Analysts predict 13% and 17% EPS growth in FY25 and FY26.

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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

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Government reviews FDI caps; may help defence, insurance sectors

CFO News

While most sectors have a liberal regime where automatic approvals aren't needed, the department for promotion of industry and internal trade is looking at how investment norms for defence can be made more attractive as govt seeks to move more manufacturing in the strategic sector to India.

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SEZ units set to get refund of cess on imports

CFO News

The Centre will refund the compensation cess levied on imported goods under Goods and Services Tax (GST) to businesses operating in special economic zones and their developers, effective from 2017. The Central Board of Indirect Tax and Customs has also directed the issuance of refunds of 5% GST collected on food packages intended for the public distribution system (PDS).

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Union Budget consultations done, Sitharaman set to announce measures and reforms on July 23

CFO News

Budget expectations: Finance Minister Nirmala Sitharaman completed pre-Budget consultations with diverse stakeholders, setting the stage for presenting her seventh Union Budget on July 23. This first full budget of Modi's third term aims to steer India towards becoming a developed nation by 2047. President Murmu hinted at significant economic reforms ahead.

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India Inc senior keen to book C-Suite for pros under 50

CFO News

Traditional groups cap CXO age at 50. A mid-fifties candidate was overlooked. Younger CEOs/CXOs, preferred for tech adaptability post-pandemic, fit the 'sweet spot' age aiding old economy firms. Pawan Goenka noted internal grooming. Rajiv Dube favours longer terms. Young leaders, noted by Harsh Goenka and Claricent Partners, are ambitious and successful.

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India Inc beware! A wave of resignations may be headed your way once job market opens up

CFO News

As much as 86% of 5,562 professionals who responded to a survey put together by job portal Naukri.com for ET said they would be actively looking out for new jobs now that appraisals were over. About 39% of the respondents said their appraisals had been worse than last year, while they were similar for 33% and better for the balance 28%.

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How To Streamline Finance Operations Through Automation

Speaker: Claire Grosjean

In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.

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Changes likely in India's new EV policy, may benefit legacy car companies

CFO News

The move comes as US electric carmaker Tesla Inc is still to make any firm commitment on building a factory in India. The policy, which aims to accelerate the local manufacturing of high-end electric cars, currently supports only fresh investments. Consultations are also on with stakeholders on another key issue troubling carmakers.

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Paytm Bank, auditor lock horns over business viability

CFO News

Paytm Payments Bank faces audit qualification disputes over viability, seeking RBI intervention. Compliance issues led to operational restrictions, prompting directions to transfer businesses. KYC guideline non-compliance has halted income generation and eroded net worth.

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Ex-defence secretary Ajay Kumar joins VC play with early-stage fund

CFO News

Ajay Kumar, a former bureaucrat who retired as India’s defence secretary in 2022, has set up a new venture fund, Mounttech Growth Fund, to back early-stage startups. The Rs 250-crore fund has secured approval from Sebi. The fund will look to back startups in the space, aerospace, and deep tech sectors.

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Sebi likely to act against ‘silent’ PMS firms

CFO News

Regulator Sebi expresses concern over unresponsive PMS firms in the market. Compliance issues and potential misuse of licenses highlighted. APMI maintains communication with compliant members. Sebi closely monitoring the PMS sector with a dedicated team. Further developments expected in this industry.

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Empowering Business Travel: The CFOs Guide

Business travel is more than just a line item. It’s a strategic opportunity to align with your company’s goals and empower your employees. With 60% of employees dissatisfied with the ease of booking and modifying travel plans, there’s a significant opportunity to improve travel management. This one-pager explores how to transform travel into a powerful tool for organizational success.

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Telecom hiring may lose steam in FY25

CFO News

But the lack of telecom and technology skills has created a 2.5 million telecom demand-supply gap, which is expected to increase to 3.8 times by 2030, according to TeamLease.