Newsom signs order focused on AI’s workforce impacts

The Latest

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  Intuit to slash workforce by 17%

  The tax software provider is reducing its full-time workforce by 17% as it continues to bet big on AI.

  Technology

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  Sponsored by Sage

  Tapping into AI requires CFOs to balance speed with trust

  CFOs face a critical challenge: harnessing AI’s speed and efficiency while ensuring accuracy, control and accountability in finance workflows.

  Strategy & Operations

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  Consumer sentiment falls to new low; cost of living ‘first-order’ worry

  A sustained rise in long-run inflation expectations would likely increase the odds that the Federal Reserve will raise interest rates.

  Strategy & Operations

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  Amgen’s ‘boomerang’ CFO reaps $12.5M in cash, retention bonuses

  Thomas Dittrich is the latest “boomerang” executive to return to a former employer as CFO. Over a decade ago he was the biotech company’s chief accountant.

  Strategy & Operations

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  New Harness CFO targets ‘effective growth’

  Microsoft alum Bill Koefoed is working closely with Harness CEO Jyoti Bansal to create the right “financial profile” for the business as it mulls an eventual public debut.

  Leadership

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  Economic damage from Iran war ‘increasingly evident,’ S&P Global says

  The economy during the second quarter will probably struggle to grow at an annualized rate of much more than 1%, according to S&P Global.

  Strategy & Operations

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  Walmart ties expected tariff refunds to price strategy amid cost pressures

  CFO John David Rainey said potential recoveries would be directed toward lowering prices as fuel costs pressure consumers.

  Strategy & Operations

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  SEC moves to narrow application of strict audit, reporting rules

  The agency says the reforms are part of a broader effort to ease regulatory burdens and encourage more companies to go and stay public.

  Financial Reporting

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  FASB finalizes new environmental credit rules

  Previously GAAP provided no specific guidance to help companies account for carbon offsets and emissions allowances related to cap-and-trade programs.

  Strategy & Operations

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  Philip Morris appoints insider as group CFO

  Group insider Massimo Andolina will step in as CFO for the tobacco company in August, as PMI looks to grow its smoke-free product range.

  Financial Reporting

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  Inspired pulls new CFO from ranks

  The gaming company appointed former Walgreens Boots alum Craig Wilson as its CFO amid a shift in focus to its digital content business.

  Technology

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  Texas Stock Exchange hires first CFO as launch nears

  Jaime Gow’s appointment comes roughly two months before trading on the upstart Texas exchange is expected to launch in July. 

  Strategy & Operations

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  OneStream expands AI strategy, adding interoperable agents

  The company’s latest rollout centers around a “finance agentic layer” that can work with external systems including ChatGPT and Claude.

  Technology

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  Opinion

  Breaking the fire-drill cycle in tax compliance

  Embedding AI in the core finance function can replace reactive fire drills with continuous, policy-aligned performance, writes SAP’s Lawrence Martin. 

  Technology

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  Standard Chartered taps investor relations head for CFO

  Costello will step in as group CFO for Standard Chartered as the bank moves forward with stablecoin expansion and preps for its upcoming investor day.

  Technology

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  Fed survey shows household view of US economy worsening

  Before the war with Iran, 8% of adults said their family sometimes or often lacked enough food, the Federal Reserve said, citing survey results.

  Strategy & Operations

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  Supply chain resiliency increasingly trumps cost in perma-crisis era

  As multiple “black swan” events have disrupted the flow of goods, companies are increasingly moving away from historical just-in-time inventory management.  

  Strategy & Operations

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  Revamped Colorado AI law targets ‘consequential’ HR decisions, takes effect in 2027

  After scrapping a version challenged in court, the state wants its second attempt to be “a model for the rest of the country,” Gov. Jared Polis said.

  Technology

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  Share of women on company boards falls below 30%

  The findings of a study conducted by Women 50/50 echo other recent research revealing persistent limits on opportunities for women at the highest levels of business.

  Strategy & Operations

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  Timberwolves, Lynx tap former Penguins exec for CFO, COO

  The change comes after the $1.5 billion sale of the teams in 2025 and the subsequent appointment of a new CEO.

  Strategy & Operations

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  What puts organizations at risk of losing AI talent?

  “AI adoption is a culture issue, not just a training issue,” a Gartner report said.

  Strategy & Operations

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  AICPA seeks IRS relief on newly expanded excise tax

  Without regulatory exceptions, some nonprofits could be forced to restructure their workforce or even close, the AICPA warned. 

  Compliance

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  FASB tackles transferable tax credits

  Accountants have clamored for guidance to address a growing number of tax credits offered to incentivize investments in energy and other projects.

  Financial Reporting

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  Cisco to cut nearly 4,000 jobs as AI shift accelerates

  “Things are moving incredibly fast right now,” Cisco’s CFO said, as the company sharpens its focus on AI.

  Financial Reporting

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  Retail sales slow to 0.5% growth as inflation erodes affordability

  Wages rose at annual rate of just 3.6% in April, lagging inflation for the first time in three years and weakening household spending power.

  Strategy & Operations

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  Opinion

  The hidden underwriting exposure of AI data centers

  Data centers are still widely financed like traditional real estate assets, but in the volatile AI era that framework is dangerous and outdated, Jonathan Hatzor writes.

  Technology

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