Tue.Mar 14, 2023

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Silicon Valley Bank investors sue collapsed firm’s CEO, CFO

CFO Dive

The proposed class action alleges the failed bank, CEO Greg Becker and CFO Daniel Beck concealed from investors the impact that high interest rates would have on the tech-focused firm’s business.

CFO 130
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10 Tuesday AM Reads

Barry Ritholtz

My Two-for-Tuesday morning train reads: • Bank Runs, Now & Then : The Panic of 1907 would probably be more famous if it wasn’t overshadowed by the Great Depression just a couple of decades later. It lasted 15 months and saw GDP decline an estimated 30% (even more than the Great Depression). Commodity prices crashed. Bankruptcies exploded. The stock market fell 50%.

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Trending Sources

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Former CFO sentenced in $1.9M embezzlement scheme

CFO Dive

The California man carried out a four-year embezzlement scheme in multiple ways, including by using company credit cards to pay for over $750,000 in personal expenses, according to federal prosecutors.

CFO 260
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The Power of Accurate Personnel Planning in Times of Uncertainty

Centage

The ongoing economic uncertainty continues to pose a serious challenge for CEOs and financial leaders. And one of the most significant obstacles is finding ways to do more with less. As companies slash budgets, finance teams need to find ways of making the company’s cash go further while accomplishing the same goals with fewer resources. If companies want to succeed, they need to craft their personnel planning with care, ensuring their choices hold up to close scrutiny from upper management and

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Your Guide to Creating a Travel Policy

Navigating travel expenses can be challenging, but our workbook offers a clear path forward. Learn to craft a travel policy that fits your budget and makes travel management simple. This self-guided workbook offers: Practical advice on choosing airlines, setting booking time frames, and managing travel costs effectively. Insights into selecting the right class of service for each employee, ensuring everyone travels comfortably and within policy.

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Core inflation rises, challenging Fed amid banking instability

CFO Dive

Even as high inflation persists, the failure of Silicon Valley Bank and Signature Bank has undercut expectations that the Fed will step up the pace of monetary tightening.

Banking 244

More Trending

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After SVB, cash is once again king, ex-CFO says

CFO Dive

With steady CFO leadership now paramount, finance leaders should prioritize cash and keep open their lines of communication with shareholders and employees.

CFO 227
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Moody's changes outlook on U.S. banking system to 'negative' after SVB collapse

CFO News

Bank runs at Silicon Valley Bank, Silvergate Capital Corp and Signature Bank have deteriorated the operating environment for the sector that is now battling a crisis of confidence, both from investors and depositors, the ratings agency said.

Banking 98
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SVB failure could cloud CFOs’ sunnier outlook

CFO Dive

CFOs are cautiously optimistic for 2023, according to Deloitte’s latest CFO signals survey, but the swift downfall of SVB could test that.

CFO 223
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Silicon Valley Bank collapse brings governance risks into the spotlight

CFO News

How did the risk management committee at the US bank not see the collapse coming, wonder Indian experts while also questioning the role of the auditors.

Banking 105
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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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Bank failure panic fuels moment of opportunity for threat actors

CFO Dive

As regulators step in to operate Silicon Valley Bank, threat hunters and security executives warned organizations to look out for malicious activity, highlighting finance employees as especially vulnerable.

Banking 130
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Apollo eyes Silicon Valley Bank assets as suitors circle $73.6-billion loan book

CFO News

Apollo, one of the world’s largest alternative asset managers, is among other investors looking to buy pieces of Silicon Valley Bank.

Banking 98
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Signature Bank CFO among those named in investor lawsuit

CFO Dive

A proposed class-action complaint claims the bank and its leaders misled investors about Signature Bank’s financial standing.

Banking 130
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U.S. inflation increased 0.4% in February; annual rate falls to 6.0%

Tips Watch

By David Enna, Tipswatch.com I am writing this posting after just arriving in Zadar, Croatia. My time is short, so I will need to be brief this month. The Consumer Price Index for All Urban Consumers rose 0.

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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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India Inc's dealmaking value falls 60% in February: Grant Thornton

CFO News

This also marked the second-lowest deal volumes and lowest values recorded since 2014, as per the tracker.

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Automation transformation: How you can do it right

Future CFO

Most automation transformation of organisations fall short, despite the fact that efforts like workforce augmentation across industries has reduced costs by as much as 30%, said Bain recently when releasing its new report titled “Automation’s Ultimate Goal: The Augmented Workforce”. Automation, AI , and the rise of the augmented workforce should lead executives to think differently about the value their employees contribute; and yet, according to Bain, few companies are taking a fully strategic

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M Jagannath appointed as Managing Director of LIC

CFO News

He had taken the charge from March 13. Jagannath had joined the organisation as a Direct Recruit Officer in 1988. The newly appointed MD comes with a wide experience in marketing.

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How Data Brokerage Hits You Financially

Financial Analyst Insider

Are you familiar with the concept of data brokerage? This industry has been around in some guise for decades, though the digital revolution has seen The post How Data Brokerage Hits You Financially appeared first on Financial Analyst Insider.

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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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Reliance Retail, other top brands eye ‘Value’ space after Zudio’s succes

CFO News

While Reliance Retail is planning to launch a value apparel format, likely to be named ‘Youth’ to compete directly with Tata’s Zudio and Landmark group-owned Max, Shoppers Stop is coming up with a mass-priced brand, internally called InTune, people in the know said.

Retail 52
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The Fed is Done

The Reformed Broker

Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►Silicon Valley Humiliated – Sit down, be humble. Maybe less tweets. ►What Now for Banks? – “Interest rates on bank deposits have lagged the Fed” ►Orange County – Fed was finished once O.

Finance 52
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India seen to sail towards record goods exports this FY amid turbulent waters

CFO News

The Export-Import Bank of India, or India Exim Bank, pegs India’s merchandise exports for January-March at $110.9 billion, leading to record exports of $447.3 billion for the full year. However, the bets of record numbers come despite the fact that tightening of global financial conditions and persistent geopolitical woes continue to be a a major hindrance, which is already reflected in weak manufacturing exports.

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Online Data Analytics Boot Camps and Skills You Can Learn from Them

Financial Analyst Insider

Data analytics has grown in popularity as a career skill in recent years. Organizations across all industries are leveraging data to make informed decisions, and The post Online Data Analytics Boot Camps and Skills You Can Learn from Them appeared first on Financial Analyst Insider.

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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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Synchronized Tech + Ops actions for NextGen Transformation

CFO News

Companies are now getting ready for V2.0 of their transformation. Many companies have outgrown earlier ERP implementation and are getting ready for upgrade, like moving from SAP ECC to SAP S4Hana.

SAP 52
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#FA Success Ep 324: Managing Revenue And Income Volatility Through The Scaling Phase Of Growth, With Nancy Knous

Nerd's Eye View

Welcome back to the 324th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Nancy Knous. Nancy is the CEO and Founder for Benchmark Wealth Management, an independent RIA affiliated with LPL Financial based in Memphis, Tennessee, that oversees nearly $340 million in assets under management for almost 1000 client households.

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CCI clears Reliance's $344 million buy of Metro's local business

CFO News

The deal, announced nearly three months ago, will help Reliance strengthen its wholesale format and cement its position as the biggest player in India's burgeoning retail industry with stores spanning electronics, groceries and fashion.

Retail 52
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Clips From Today’s Halftime Report

The Reformed Broker

Final Trades: DocuSign, Citigroup, Adobe & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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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.