The Latest
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Election triggers new tax scenario planning: U.S. Bank survey
Former President Donald Trump has talked about reducing the current 21% corporate tax rate while Vice President Kamala Harris proposed raising it to 28%.
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Artificial intelligence may boost profit margins 2% over next five years: BofA
“Investors frequently overestimate the magnitude of tech disruption in the near term and underestimate it over the longer term,” Bank of America said.
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Economic, cyber worries among top CFO concerns: Travelers
Over half of CFOs pointed to mitigating business risks as a key skill set, a recent Travelers study found.
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Inflation slows to three-year low, clearing way for Fed rate cut
The persistence of shelter cost inflation prompted futures traders to retreat from predictions that policymakers next week will cut the federal funds rate by a half point.
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CFOs’ AI adoption gains momentum: Gartner
Sixty-six percent of finance leaders are more optimistic about the technology compared to last year, the study found.
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Ally shares slump after CFO warns of ‘intensified’ credit challenges
Borrowers have continued to struggle with high inflation, cost of living and a “weakening” employment picture, CFO Russ Hutchinson said.
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Small businesses bedeviled by inflation as Fed signals rate cut plan
Inflation persisted last month as the top concern among small businesses, the National Federation of Independent Business said.
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Citi CFO: Businesses mull derisking as uncertainty persists
While the “boil” appears to be coming off inflation, companies are still grappling with uncertainty around elections and rates, Citigroup’s Mark Mason said Monday.
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Airwallex eyes embedded payments in globalization push
Two “immediate bets” the company is making include increasing headcount in Brazil and Mexico, executive GM Ravi Adusumilli said.
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B2B payment fraud poised for 2024 surge
The threat can be devastating, with many companies losing more than 30% of their total revenue to fraudulent activities each year, according to a Creditsafe report.
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Companies lean on AI in push to curb cyber insurance costs
Half of business leaders responding to a Delinea survey said their organization was able to negotiate a lower cyber insurance rate after using AI.
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Salesforce shapes industry-tailored AI play targeting 15 sectors
The software provider unveiled an AI Use Case Library with more than 100 AI capabilities aimed at financial services, life sciences, healthcare and other sectors.
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Companies boosting salary budgets at near-record pace in 2025
Salaries will likely rise at a robust clip even though the job market since the pandemic has gradually cooled, the Conference Board said.
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UPenn, University of Texas produce most CFOs
In a shakeup, The University of Texas at Austin unseated University of Virginia this year to top the list of public schools that have produced the most sitting finance chiefs.
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New Eli Lilly CFO to receive $1M salary, bonus opportunity
The financial leadership transition is coming as the pharma giant hovers just below a $1 trillion market cap in the midst of rising demand for several new medications.
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Fewer small businesses plan near-term raises, survey says
While the share of small business owners planning near-term raises ticked down, average pay hikes are on track to outpace inflation, according to QuickBooks’ findings.
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RealPage lawsuit opens a new antitrust front for pricing algorithms
The rise of Big Data across the economy raises antitrust concerns, especially where companies are sharing sensitive proprietary data, legal experts say.
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SoundHound AI programmatic M&A strategy targets 2025 ‘break even’
In the midst of AI hype, SoundHound is leaning on programmatic M&A to balance profitability with hypergrowth, CFO Nitesh Sharan said.
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Tax compliance costs surge 32% since 2017: Tax Foundation
Efforts to simplify the federal tax code have failed to reverse decades of regulatory and legislative changes that have made it more complex.
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Honeywell taps insider for CFO seat
The transition comes as Charlotte, North Carolina-based Honeywell’s CEO is laser-focused on accelerating growth.
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Courtesy of ADM
New ADM CFO to tackle ‘root cause’ of material weakness
Just weeks into his CFO tenure, Monish Patolawala said he’d prioritize remediating the accounting woes that have rocked the company this year.
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August tech layoffs surpassed 26K, highest level since January
Tech job cuts are continuing to pile up as industry leaders zero in on objectives such as freeing up capital to fund AI initiatives.
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SEC fines credit rating firms $49M for record-keeping flaws
Employees at some of the firms routinely discussed credit ratings on their personal communication devices, the SEC said.
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Courtesy of Rite Aid
Rite Aid exits bankruptcy, promotes CFO to CEO
Chief Financial Officer Matt Schroeder will take over the CEO post from restructuring officer Jeffrey Stein.
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US manufacturing persists in recession mode, production falls
Producers, responding to “election uncertainty” and monetary policy, held back on capital investment last month, the Institute for Supply Management said.
