Thu.Dec 05, 2024

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Are you ready for the financial impact of AI on your IT budget?

E78 Partners

While we can all agree that AI’s impact on IT is significant and will continue to grow, are organizations prepared to manage the growing costs on their IT budgets? Estimates suggest that AI projects could take up to 10% of IT budgets yearly, and this figure is likely to increase. Additionally, as AI spending rises, traditional infrastructure costs will also escalate.

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Remembering Art Cashin

Barry Ritholtz

We lost one of the greats this week: Art Cashin passed away Sunday at the age of 83. CNBC’s Bob Pisani did a wonderful remembrance of Art: “In the intensely competitive and often vicious world of stock market commentary, Cashin was that rarest of creatures: a man respected by all, bulls and bears, liberals and conservatives alike.” It made me want to share a few of my favorite Art Cashin stories… I first met Art when I was a newbie strategist in the 2000s.

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Trending Sources

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Core business strategy remains ‘intact’ with CEO exit, Intel CFO says

CFO Dive

It’s likely the incoming CEO will have a foundry background, David Zinsner, CFO and interim co-CEO for Intel said during a conference Wednesday.

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European Banks Brace For Heightened Cyber Threat

Global Finance

European banks are scaling-up their IT network defenses against a surge in data breaches and Distributed Denial of Service (DDoS) cyber-attacks. AXA, Nordea, Abn Amro and Banco Santander are among the financial groups targeted by what banks are describing as a “completely different scale” of hostile threat from the cyber domain. This latest generation of cybercriminals are becoming bolder and more innovative in how they target banks.

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Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

Speaker: Claire Grosjean

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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Former Yelp exec named Etsy CFO

CFO Dive

The change is part of a broader management shake-up at Etsy as it grapples with declining sales.

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Braintree targets higher pricing, PayPal CFO says

CFO Dive

PayPal is looking to create a more profitable unbranded payment business line, the CFO said.

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Mexico: New President Pledges To ‘Fix’ Pemex

Global Finance

Mexicos new President Claudia Sheinbaum announced measures last month to steady the finances of the state-owned oil company Pemex, which experienced another round of losses this fall. In September, Pemex announced a third-quarter loss of 161.5 billion Mexican pesos (US$8 billion). Factors contributing to the losses included decreased total sales; increased fixed asset deterioration, especially in hydrocarbon processing plants; and losses on foreign exchange.

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The Inquisitive CFO: Leveraging Curiosity for Company Growth 

CFO Talks

The Inquisitive CFO: Leveraging Curiosity for Company Growth Curiosity is often overlooked as a professional skill. Yet, for a Chief Financial Officer (CFO), curiosity can be a secret weapon to drive company growth. Being inquisitive is not just about asking questions; it’s about fostering a mindset that challenges the status quo, uncovers hidden opportunities, and builds a culture of innovation.

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Nubank Consolidates As World’s Largest Digital Bank

Global Finance

Nubank’s latest financial results underscore what its major investors Warren Buffett and Cathie Wood seem to have long known: the unicorn fintech is well on track to consolidating its position as the world’s largest digital bank. In the latest quarter, the firm reported an adjusted net profit of $592.2 million, thanks to increasing geographical reach and improving margins.

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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Fluor CFO Joe Brennan to retire after 30 years

CFO Dive

John Regan, currently Fluor’s executive vice president and chief accounting officer, will step into the role on March 1, 2025.

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Lulu IPO Gets Mixed Reception

Global Finance

Lulu Retail Holdings, a major operator of hypermarkets in the Middle East, raised $1.72 billion last month in an initial public offering (IPO) that was more than 25 times oversubscribed and the largest listing in the United Arab Emirates (UAE) this year. The company sold approximately 3 billion ordinary shares, representing 30% of issued share capital.

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2025: key trends to look out for in payments

Future CFO

As the payments landscape in the Philippines undergoes significant evolution, the country is set to see a more seamless, secure, and interconnected setting in 2025, according to Visa. Finance leaders, as 2024 comes into its wrap-up, now ought to look forward and plan ahead, and definitely get all the resources and research they can have to map out a blueprint for their organisation's future.

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Cybersecurity Is Now A CFO’s Burden

Global Finance

Company brass is stepping into the digital front line, tapping coffers to defend against cyberattacks. Each year, chief financial officers find themselves facing an increasingly complex landscape of cybersecurity threats that jeopardize their organizations financial stability and reputation. From ransomware attacks targeting confidential data to sophisticated phishing schemes exploiting payment systems, the stakes have never been higheror more expensive.

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Forecasting Failures Are Costly: Heres How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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Members’ Profile: Ntombi Melamu

CFO Talks

Members’ Profile: Ntombi Melamu In this edition of our CFO Spotlight series, we are featuring Ntombi Melamu, the Managing Director and Founder of FinAscend, a firm she established in 2019 to support small and medium-sized businesses with tailored financial solutions. With over 15 years of experience in financial management, she has held key roles at Nedbank, Imperial Bank, and Regiments Capital, where she developed expertise in corporate finance, reporting, and business strategy.

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CFO Corner With Trex’s Brenda Lovcik

Global Finance

Brenda Lovcik is senior vice president and CFO of Trex, a manufacturer of wood-alternative composite decking, railing, and other outdoor items made from recycled materials. Headquartered in Winchester, Virginia, Trex is listed on the New York Stock Exchange. Global Finance : You have been the financial head of Trex for almost a year now. What has been the biggest challenge so far?

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Are you ready for the financial impact of AI on your IT budget?

E78 Partners

While we can all agree that AIs impact on IT is significant and will continue to grow, are organizations prepared to manage the growing costs on their IT budgets? Estimates suggest that AI projects could take up to 10% of IT budgets yearly, and this figure is likely to increase. Additionally, as AI spending rises, traditional infrastructure costs will also escalate.

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Goldman Sachs Mulls Spinoff Of Digital Business

Global Finance

Nearly two years after its debut, Goldman Sachs ponders whether its Digital Asset Platform (DAP) should become an independent, standalone business. The platform, housed in the bank’s Digital Assets business, allows users to issue debt and cash offerings as tokenized assets and manage them throughout their lifecycle. The bank expects to make its final decision in 12 to 18 months, reported Bloomberg.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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The impact of AI on financial forecasting and budgeting

Jedox Finance

As traditional budgeting methods fall short, modern CFOs are pivoting towards advanced tools and technologies to stay competitive in a volatile and unpredictable landscape. In this article, we’ll explore the role of AI in budgeting and forecasting. Discover how AI tools equip financial planning & analysis (FP&A) teams with the critical insights needed to guide [.

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GST rate rationalisation: Experts suggest shift to three-tier structure to simplify compliance

CFO News

Ahead of the 55th GST Council meeting on December 21, experts highlight the need for a simplified GST system to foster India's economic growth, advocating for a three-tier structure that reduces complexity, enhances transparency, and benefits both businesses and consumers.

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Trump’s SEC pick sparks concern from ESG, climate experts

CFO Dive

The president-elect picked Paul Atkins for Securities and Exchange Commission chair, who experts expect to prioritize maximizing corporate returns over ESG considerations.

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Mastek's Global CFO Arun Agarwal resigns

CFO News

Mastek, in an exchange filing, announced the resignation of its Global CFO, Arun Agarwal, who will assist during the transition as the company begins its search for a successor.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Disney And Reliance Create An Indian Media Powerhouse

Global Finance

The Walt Disney Companys Indian media business and Reliance Industries Ltd (RIL), which owns Viacom18 Media Private Ltd, received regulatory approval last month to merge their Indian assets, forming an $8.5 billion joint venture. The merger creates Indias largest media and entertainment company, featuring more than 100 television channels and producing more than 30,000 hours of television content annually.

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Star Agriwarehousing files IPO papers with Sebi; aims to raise Rs 450 cr via fresh issue

CFO News

Star Agriwarehousing and Collateral Management Ltd, a tech-driven agricultural services firm, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

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How AI Is Transforming Sales Strategies: Insights from SalesLoft CFO Chris Nagy

CFO Thought Leader

CFO Chris Nagy of Salesloft explores AI as a strategic lever, detailing its dual role in market-facing products and operational efficiency. Nagy explains how SalesLoft’s proprietary AI tools, such as Conductor AI and Rhythm, help transform revenue orchestration by generating actionable seller insights. He contrasts these advanced workflows with outdated “spray and pray” email campaigns, showcasing how AI enables smarter, data-driven decisions that enhance conversion rates and streamline operatio

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Apparel industry slams proposed GST hike

CFO News

The Clothing Manufacturers Association of India (CMAI) expresses concern over the proposed GST rate hike on apparel. The CMAI warns that increasing the GST on garments priced between ₹1,500 and ₹10,000 to 18%, and to 28% for those above ₹10,000, could lead to job losses, reduced demand, and industry disruption.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?