Credit squeeze likely to trigger recession: IACPM

Federal Reserve economists cited banking turmoil and predicted a mild downturn later this year.

By Jim Tyson • April 14, 2023

Core inflation edges up, bolstering case for Fed tightening

Higher interest rates have not cooled consumer spending, economic growth and the labor market as quickly as expected, San Francisco Fed President Mary Daly said.

By Jim Tyson • April 12, 2023

EY split hits wall

Back in September, the Big Four accounting firm announced plans to split its auditing and consulting arms into two entities. Now, ‘Project Everest’ has been halted.

By Elizabeth Flood • April 12, 2023

Ex-Twitter CEO, CFO’s suit may find Delaware law favorable

Chancery Court has a history favoring bylaw provisions requiring companies to pay executives’ legal costs even when they no longer work for the company.   

By Robert Freedman • April 11, 2023

Small businesses see credit tightening: NFIB

Banking system instability has triggered a pullback in credit and shaken confidence among small businesses, the NFIB found in a survey.

By Jim Tyson • April 11, 2023

Tax executives expect higher rates of audits, disputes: EY

Tax jurisdictions worldwide are stepping up scrutiny of businesses as they prepare to enact a 15% global minimum corporate tax next year, according to respondents to an EY survey.

By Jim Tyson • April 10, 2023

Samsung employees leaked corporate data in ChatGPT: report

Data privacy is a concern for companies with employees using ChatGPT’s web-based interface, as input data is used to train and improve the tool.

By Lindsey Wilkinson • April 7, 2023

Using a disciplinary matrix to tie compensation to compliance

A good way to earn DOJ cooperation credit is to be clear on paper what violations will result in a pay reduction or clawback, a Morgan Lewis partner says. 

By Robert Freedman • April 6, 2023

Fed officials signal more tightening than investors forecast

A credit squeeze following recent banking system turmoil may prompt policymakers to reduce the main interest rate before the end of 2023, according to investors.

By Jim Tyson • April 5, 2023

Slump in jobs, manufacturing suggest economy softening

Turmoil in the banking system may lead to a tightening in credit, weaker manufacturing and reduced hiring.

By Jim Tyson • April 4, 2023

Cyberattacks hit almost all companies last year, Sophos says

A constant barrage of malicious activity has organizations reeling, negatively impacting their ability to accomplish IT projects or dedicate time to strategic issues.

By Matt Kapko • April 4, 2023

SEC charges Navy shipbuilder executives with accounting fraud

Austal USA executives allegedly manipulated accounting in order to improve earnings in building the Littoral Combat Ship, the SEC said.

By Jim Tyson • April 3, 2023

IPO proceeds slump 61% amid risk of credit squeeze: EY

Turbulence in the banking system will likely tighten a credit squeeze and worsen a downturn in initial public offerings.

By Jim Tyson • March 31, 2023

Business spending outlook ‘deteriorated’: Fed CFO survey

CFOs were planning to reduce expenditures before turmoil in the banking system threatened to provoke a credit tightening.

By Jim Tyson • March 29, 2023

Experts warn against ransomware complacency

Despite reports of fewer ransomware-related cyber insurance claims and decelerating premiums in 2022, experts say the threat is still serious and evolving.

By Alexei Alexis • March 28, 2023

PCAOB proposes updated standards, faster audit filing

The audit watchdog aims to update and unify interim standards created 20 years ago, aligning its rules with new independence requirements and advances in technology.

By Jim Tyson • March 28, 2023

Climate change shareholder proposals trending toward record

Debate has flared in recent months over whether businesses and institutional investors should use ESG criteria when making decisions.

By Jim Tyson • March 27, 2023

Luckin Coffee’s ‘revenue reckoning’ takeaways

The Beijing-based company was initially viewed as a kind of David poised on its home turf to take on the Goliath of the coffee world — Starbucks — in China.

By Maura Webber Sadovi • March 24, 2023

Banking turmoil may trigger recession: Fannie Mae

Small- and mid-size banks will likely tighten credit in the coming months, increasing the odds of a downturn this year, economists said.

By Jim Tyson • March 24, 2023

ESG poised to gain traction as CFO priority: Gartner

Many organizations are shifting away from a purely “risk management” approach to ESG and are viewing it as a way to attract customers, investors and talent — a trend that will only increase in coming years, according to Gartner.

By Alexei Alexis • March 23, 2023

Fed likely to hike main rate despite banking turmoil: economists

Banks will likely reduce lending in coming months, complementing Fed efforts to cool the economy while increasing the risk of recession, economists said.

By Jim Tyson • March 21, 2023

Lessons from SEC’s $3M Blackbaud cyber penalty

The Charleston, South Carolina-based software provider’s recent data breach settlement with the SEC serves as a cautionary tale for C-suite leaders.

By Alexei Alexis • March 21, 2023

Travel + Leisure CFO talks uptick in travel, bleisure

Despite headwinds on travel from the pandemic, CFO Mike Hug has continued to capitalize on new opportunities within the industry.

By Elizabeth Flood • March 20, 2023

With tech’s favorite banks in turmoil, some are choosing loyalty

After several high-profile bank failures and near-failures, some fintechs don’t see jumping ship as an option.

By Gabrielle Saulsbery • March 20, 2023

Bipartisan Senate bill would bolster SEC whistleblower safeguards

The SEC’s program for gathering tips on securities law violations has imposed $6.3 billion in sanctions since its creation.

By Jim Tyson • March 17, 2023