ChatGPT aces CPA exam after prior version flunked

ChatGPT-3.5 took the CPA exam and got an “F.” The newest version of the AI learned from the failure, however, and nailed the test, researchers said.

By Jim Tyson • May 25, 2023

Fed officials disagreed on need to raise rates in June

Financial markets signal expectations that the Fed will reverse course and begin to trim borrowing costs as early as September.

By Jim Tyson • May 24, 2023

Explore the Trendline➔

Navigating risk in turbulent times

CFOs must help their organizations mitigate risks by balancing the need for both growth and stability. 

By CFO Dive staff

SEC enforcement not ‘a game of gotcha,’ Grewal says

The SEC will press on with aggressive enforcement while seeking to collaborate with companies under scrutiny, the agency’s enforcement director said.   

By Jim Tyson • May 23, 2023

Resilience sounds alarm on 300% ransomware resurgence

Ransomware claims by the cyber insurer’s customers grew 300% from the third quarter of 2022 to the first quarter of this year.

By Alexei Alexis • May 23, 2023

Investors oppose using ESG criteria in retirement funds: Gallup

U.S. companies face intense pressure to embrace sustainability even as many Americans do not want ESG goals to guide the investment of their retirement money.

By Jim Tyson • May 22, 2023

Fostering diverse banking relationships key to balancing risk

The wobbles in the banking industry put a spotlight on the importance of diversifying banking and financial relationships for CFOs looking to mitigate business risk.

By Grace Noto • May 22, 2023

Recession likely to start in Q3 as Fed sustains inflation fight: Fannie Mae

The Fed may keep borrowing costs high and trigger a downturn if robust wage gains persist in coming months, Fannie Mae said.

By Jim Tyson • May 19, 2023

Dole incurs $10.5M in direct costs from February ransomware attack

The attack impacted about half of Dole's legacy company’s servers and one-quarter of its end-user computers.

By David Jones • May 18, 2023

M&A falters despite ‘heavily discounted prices’: PitchBook

Deals valued at below $100 million accounted for a record proportion of M&A transactions during the first quarter.

By Jim Tyson • May 17, 2023

US cyber insurance premiums exceeded $7.2B last year

Despite sharp price increases over recent years, cyber insurance is in high demand as a risk mitigation strategy, according to Fitch Ratings.

By Alexei Alexis • May 16, 2023

U.S. Chamber sues SEC, slamming buyback rule

An effort to block rules on stock repurchases is the latest pushback by business groups against an unusually active regulatory agenda at the SEC.

By Jim Tyson • May 15, 2023

Retailers lag, energy firms lead in environmental disclosures: Fitch

Standards for gauging sustainability are gelling amid a backlash against government plans to require corporate disclosure on climate risk.

By Jim Tyson • May 12, 2023

Costs of software supply chain attacks could exceed $46B this year

Losses attributed to software supply chain attacks will jump 76%, reaching almost $81 billion by 2026, according to Juniper Research.

By Matt Kapko • May 12, 2023

FASB’s tax proposal will ‘change the game’

Previous FASB calls for greater income tax transparency have drawn pushback from businesses. This time the initiative appears to be gaining steam.

By Maura Webber Sadovi • May 12, 2023

PwC, KPMG China audits are flawed: PCAOB

The PCAOB findings follow U.S. success in overcoming opposition from Beijing to the inspection of audits of China-based companies listed on U.S. stock exchanges.

By Jim Tyson • May 11, 2023

Inflation eases yet persists at more than twice Fed target

Core inflation, which excludes food and energy prices, remains high despite 10 consecutive increases in the federal funds rate since March 2022.

By Jim Tyson • May 10, 2023

Burying bad 8-K news raises red flags

Researchers assert some companies “strategically” divert investor attention from negative SEC filings by issuing concurrent press releases on unrelated matters.

By Maura Webber Sadovi • May 10, 2023

Ransomware claims jump back up

Ransomware claims filed by U.S. clients of insurance broker Marsh spiked 77% in the first quarter, following a downward trend in 2022.

By Alexei Alexis • May 9, 2023

Small business optimism, spending plans slump: NFIB

A pullback in credit is prompting owners of small businesses to scale back plans for capital expenditures during the next six months.

By Jim Tyson • May 9, 2023

Companies to reimagine workflow: survey

Only about one in three companies polled in a WTW survey gave themselves good marks for effectively managing changes in work dynamics such as digitalization.

By Elizabeth Flood • May 9, 2023

Banks expect to tighten credit throughout 2023: Fed

A pullback in bank credit that began in 2022 has accelerated since a flare-up in financial sector instability started in March.

By Jim Tyson • May 8, 2023

Robust hiring persists despite credit tightening

Unemployment remains unusually low even though the Federal Reserve has sought to curb inflation and trim growth by raising the main interest rate to the highest level since 2007.

By Jim Tyson • May 5, 2023

Fed hikes main rate while ‘highly attentive to inflation risks’

The central bank increased borrowing costs even though the failure of First Republic Bank has rekindled concerns about banking system instability.

By Jim Tyson • May 3, 2023

Fed mulls rate hike as wage gains beat forecasts, fuel inflation

Compensation by one measure is rising at the fastest pace since 2008, stoking expectations that policymakers on Wednesday will further increase borrowing costs to quash inflation.

By Jim Tyson • May 2, 2023

Record high office vacancies spur sublease discounts

The U.S. office vacancy rate ticked up to a 30-year-high of 17.8% in the first quarter as hybrid work and recession fears weighed on demand, according to CBRE.

By Maura Webber Sadovi • May 2, 2023