UMass CFO on how his team overcame monthlong payroll system shutdown

UMass Memorial Health had to quickly improvise a way to run payroll for more than 16,000 employees without hours-worked data, CFO Sergio Melgar told HR Dive.

By Ryan Golden • March 21, 2022

Shell faces lawsuit as SEC prepares carbon crackdown

The SEC plans Monday to announce a proposed rule for carbon emissions disclosure just days after Shell came under fire from activists saying it needs a solid strategy to curb climate risk.

By Jim Tyson • March 18, 2022

'Fourth-party risk' rising during supply chain disruption

Businesses seeking to curb the threats from cyberattacks, high inflation and pandemic interruptions confront an added layer of risk from sub-contractors, KPMG said.

By Jim Tyson • March 17, 2022

Inflation gauges rising as Fed weighs cutting stimulus

Russia’s invasion of Ukraine has spurred inflation and complicated efforts by the Federal Reserve to curb price gains without harming employment and economic growth.

By Jim Tyson • March 15, 2022

Risks persist with some LIBOR legacy contracts: Fitch

Recently passed federal legislation may not avert disruptions from some financial contracts linked to LIBOR that need to adopt a new benchmark rate.

By Jim Tyson • March 14, 2022

CFOs hold pay raises far below inflation despite war for talent

CFOs are spurring resignations by letting inflation far outpace wage gains. They can take steps to improve employee retention even as prices increase at the highest rate in four decades.

By Jim Tyson • March 11, 2022

Quitting workers seek higher pay, advancement: Pew

Workers have quit at a record rate as the tight labor market bolsters their confidence in landing better jobs.

By Jim Tyson • March 10, 2022

SEC pushes for tougher cybersecurity disclosure rules

SEC Chair Gary Gensler said investors demand more detailed information about how companies seek to curb the risk and costs of cyberattacks.

By Jim Tyson • March 9, 2022

Small businesses see inflation as No. 1 challenge

The highest inflation in four decades has eroded profit margins and compelled small businesses to raise prices, the National Federation of Independent Business said.

By Jim Tyson • March 8, 2022

Senators introduce bipartisan bill to avert LIBOR turmoil

The Senate and U.S. House are nearing alignment on legislation that would head off instability from financial contracts that fail to identify a new reference rate after LIBOR sunsets in 2023.

By Jim Tyson • March 7, 2022

Kyiv Independent CFO taps crowdfunding for Ukrainian journalists

“We needed to have resources to be able to support media immediately because in this kind of situation … hours matter, sometimes minutes,” said CFO Jakub Parusinski.

By Maura Webber Sadovi • March 7, 2022

Workforce disclosures surge amid pressure for diversity

Although companies are revealing more about employee race and ethnicity, their reports are not standardized and are often spotty, JUST Capital said.

By Jim Tyson • March 4, 2022

Fed stimulus pullback on track despite Russian invasion, Powell says

The Federal Reserve will likely begin raising the main interest rate from a record low this month while mindful of the need to “add to financial stability, not to create uncertainty,” Fed Chair Jerome Powell said.

By Jim Tyson • March 2, 2022

Class action embroils Wells Fargo commercial real estate underwriting practices

A judge is set to rule on the bank's motion to dismiss the complaint, which names the company, ex-CEO Tim Sloan and former CFO John Shrewsberry among the defendants.

By Maura Webber Sadovi • March 2, 2022

CFOs should prepare for stronger ESG shareholder pressure: EY

CFOs and directors need to prepare for the 2022 proxy season as institutional investors turn up the heat on efforts to ensure companies embrace sustainable business practices.

By Jim Tyson • March 1, 2022

Forecasters see 'major risk' of wage-price spiral

Economists have grown more pessimistic about inflation over the next three years, citing higher wages and supply chain disruptions, NABE said.

By Jim Tyson • Feb. 28, 2022

Boards face more challenging 2022 proxy season on ESG

Company leadership should enter the proxy season ready to handle numerous shareholder proposals on sustainability and such political activities as lobbying and campaign contributions, the Conference Board said.

By Jim Tyson • Feb. 25, 2022

SEC to take hard stand against corporate 'greenwashing'

The SEC soon plans to propose rules for sustainability disclosure that will feature detailed guidelines for reporting on greenhouse gas emissions, according to SEC Commissioner Allison Herren Lee.

By Jim Tyson • Feb. 24, 2022

Ransomware attacks, extortion doubled in 2021: Accenture

Companies facing a surge in cybercrime can take several steps to limit the risk — and cost — of a ransomware attack.

By Jim Tyson • Feb. 17, 2022

Direct lending may take hit in credit crunch: S&P Global

Direct lending has boomed in the past decade but its resilience has yet to be tested in an extended credit crisis, S&P Global Ratings said.

By Jim Tyson • Feb. 16, 2022

Default rate will rise this year, Moody's says

The default rate will increase but stay well below its pandemic-period high even though central banks in many countries are raising interest rates, Moody’s said.

By Jim Tyson • Feb. 15, 2022

Gensler aims to boost SEC incentives for whistleblowers

After a record year for whistleblower awards, SEC Chair Gary Gensler wants to increase the enticements for those who disclose financial misconduct. 

By Jim Tyson • Feb. 14, 2022

4 CFO scenarios – and fixes – for inflation

Many economists, including those at the Federal Reserve, botched their forecasts for price gains last year. CFOs can avoid losses from flawed inflation projections through scenario planning.

By Jim Tyson • Feb. 11, 2022

Most CEOs expect inflation to persist, survey shows

Plans by the Federal Reserve to raise the benchmark interest rate probably will not quickly rein in the fastest price increases in four decades, most CEOs said in a survey.

By Jim Tyson • Feb. 10, 2022

CFOs reveal four inflation-coping strategies

CFOs in several industries describe how they are trying to shield profits against an inflationary surge.

By Jim Tyson • Feb. 9, 2022