Tue.Jun 04, 2024

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Freelancing Boom Goes Global

Global Finance

Use of freelancers of all types, even temporary CFOs, has mushroomed in the last five years. Here’s why more employers around the world are moving away from the full-time staff model. The surging numbers tell the story. A major hiring shift is transforming how businesses find and utilize talent and how that talent finds and establishes relationships with companies that need its skills.

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Forecasts for Fed rate cuts probably too optimistic, Summers says

CFO Dive

“I don’t think we’re on a convincing trajectory to the 2% inflation target” set by the Federal Reserve, Former Treasury Secretary Larry Summers said.

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Trending Sources

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It Wasn’t Just Shrimp That Killed Red Lobster

Global Finance

Recall last summer, when the now-bankrupt restaurant chain made its $20 “Ultimate Endless Shrimp” promotion permanent. The scheme, cooked up by ex-CEO Paul Kenny and then-majority shareholder, Thai Union, sparked an uptick in customers at Red Lobster’s 640-plus locations. But while patrons gorged on shrimp, they snubbed other seafood items. The splashy marketing ploy scalded Red Lobster.

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Few CFOs control cybersecurity budgets. Here’s why more should.

CFO Dive

Tech executives, not CFOs, most often call the shots on cybersecurity spending at middle market companies, according to a recent RSM US survey.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Regulation Struggles To Keep Pace With Global Gig Economy

Global Finance

As outsourcing to freelancers spreads, lawmakers and regulators around the world are scrambling to keep pace. Accordingly, companies working the new trend into their business model must be wary of running afoul of a fast-changing legal and regulatory landscape. Due diligence can be especially tricky for firms that use freelancers located in multiple jurisdictions—even within countries, such as the US, that have federal systems.

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China: Scrutiny Of Potential IPOs Intensifies

Global Finance

The China Securities Regulatory Commission (CSRC) is ratcheting up inspections of companies seeking initial public offerings. The aim is to boost secondary markets and slow the rate of fresh fundraisings. Such regulatory action, like seizing mobile phones and laptops belonging to senior executives, has caused more companies to withdraw IPO applications.

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Number of CFO job listings calling for AI skills hits 23%: Datarails

CFO Dive

The April number is up from 20% in January, according to the study, which analyzed listings on job portals such as Glassdoor, Indeed, Job2Careers and ZipRecruiter.

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Sri Lanka: Recovery Takes Hold

Global Finance

To say that Sri Lanka has seen its ups and downs lately is a bit of a perennial. The island nation was forced to seek assistance from the International Monetary Fund (IMF) 16 times between 1965 and 2020 in a history punctuated by civil war, constitutional crisis, terror attacks and Covid-19. Each time, it has bounced back. The latest such episode started in 2019 with the ongoing debt crisis, followed by a currency collapse and, in 2022, the fall of the scandal-ridden government of Rajapaksa.

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$1.4B water brand Liquid Death taps Jim Beam alum for CFO

CFO Dive

The canned water brand is bringing in beverage veteran Karim Sadik-Khan as it targets the expansion of its distribution channels and further product innovation.

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Business Travel Expense Strategies for Everybody

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Capital One Opening Tech Center In Mexico

Global Finance

Capital One is the latest foreign bank to enter the Mexican financial sector. However, it will not compete directly with BBVA or Banco Santander, given that the initial hirings suggest a focus on generating technology products for the North American market. Mexico’s banking regulations mean that institutions must wait considerably for oversight checks to be completed.

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Bloomberg’s Hedge Fund Forum 2024

Barry Ritholtz

Today, I am participating in a few events at Bloomberg’s Hedge Fund Forum 2024. I will be moderating the Emerging Managers Panel (I did this last year as well). It is a great collection of three new(ish) managers, in a variety of areas, all of whom have put up solid numbers: 3:45 PM Panel Discussion: Emerging Managers Panelists: Vince Aita, CIO & Managing Partner, Cutter Capital Management Brian Hurst, Founder and CIO, ClearAlpha Technologies Melvin Ike, Founder and Managing Partner, The

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Dubai Shines Again As Greenfield FDI Hotspot

Global Finance

Dubai has once more topped the rankings of global cities attracting the most greenfield foreign direct investment (FDI). Last year the buccaneering emirate garnered 1,070 greenfield FDI projects, according to emirates news agency WAM, citing data from fDi Markets. In total, Dubai pulled in 1,650 FDI projects in 2023, amounting to just over 39 billion dirhams, or around $10.7 billion, an increase of 39% over the previous year’s figure.

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Prophix software reviews: does it meet modern FP&A needs?

Cube Software

Prophix software: an overview Prophix (Source: G2 ) Prophix is a financial management software that facilitates financial consolidation, budgeting, analysis, planning, and reporting. The software offers a spreadsheet-style interface for analyzing financial data and organizing information. The software allows for easier cash flow management, balance sheets, and income statements, and offers data analysis tools.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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Shock Therapy Produces A Fiscal Surplus

Global Finance

President Javier Milei’s controversial plan to shock Argentina’s economy back into growth has chalked up a significant win. After years of rising debt, the country has now posted four consecutive months of fiscal surplus, the first in 16 years. It now eyes a full year of positive balances. The country also posted a positive financial surplus, including interest payments, in April.

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#FASuccess Ep 388: Transitioning To Independent RIA With Only $7M Of AUM To Turbocharge Growth With Website Local SEO, With Freeman Linde

Nerd's Eye View

Welcome everyone! Welcome to the 388th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Freeman Linde. Freeman is the Co-Founder of La Crosse Financial Planning, an RIA based in La Crosse, Wisconsin, that oversees nearly $50 million in assets under management (AUM) for 73 client households. What's unique about Freeman, though, is how despite the conventional industry view that it takes $10s of millions of AUM to go independent, launched his own RIA with just $7M

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Transformative Transactions: Q&A With McKinsey’s Chris Hagedorn

Global Finance

Chris Hagedorn, senior partner at McKinsey’s Transformation practice and leader of the firm’s transformational M&A work, speaks to Global Finance about how his firm works with clients at a time of high debt costs, tight labor markets, and a scarcity of available talent. Global Finance: How important is the transformation practice at McKinsey? Chris Hagedorn: In today’s volatile environment where the pace of change is rapid, more companies than ever are seeking transformation to unlock untapp

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BlackLine to sell new SAP solution extension for CFOs

Future CFO

BlackLine, Inc. launched its Financial Reporting Analytics solution, which will be sold as an SAP Solution Extension under the name SAP Account Substantiation and Automation by BlackLine, financial review option. The solution is set to enable chief financial officers to perform proactive entity and group-level analysis of financial statement line items and variances, providing users with efficient commentary functionality, end-to-end transparency, and traceability.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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China Strengthens Dominance In Green Bond Market

Global Finance

China has taken the green bond market by storm since the broad bear market of 2022 and amplified its global lead in 2023, recent data from the Climate Bonds Initiative (CBI) shows. With a total green bond issuance worth $131.3 billion (about ¥0.94 trillion) in both domestic and international markets, the country nearly doubled the second place, Germany, which issued roughly $67.5 billion during the year.

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#FA Success Ep 388: Transitioning To Independent RIA With Only $7M Of AUM To Turbocharge Growth With Website Local SEO, With Freeman Linde

Nerd's Eye View

Welcome everyone! Welcome to the 388th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Freeman Linde. Freeman is the Co-Founder of La Crosse Financial Planning, an RIA based in La Crosse, Wisconsin, that oversees nearly $50 million in assets under management (AUM) for 73 client households. What's unique about Freeman, though, is how despite the conventional industry view that it takes $10s of millions of AUM to go independent, launched his own RIA with just $7M

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Indian Exchanges Move To T+0: Up Next Is Real-Time Settlement

Global Finance

In keeping with its intense focus on introducing cutting-edge digital infrastructure to its finance and banking systems, India in March became the first among major global financial market to implement T+0 settlement on its stock exchanges. Equity trades will now be settled on the same day they are made. Initially, the T+0 standard is being applied to 25 large-cap, blue-chip stocks, and upon satisfactory performance, will be extended to the rest of the market.

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Startups seek support, policy continuity from new govt

CFO News

As of 6.30 pm, data from Election Commission showed the incumbent BJP leading with 241 seats, opposition Congress with 98 seats -- leaving both parties short of the 272 Lok Sabha seats needed to form a government and increasing the chances of a coalition.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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The Mentoring Round | Scott Henderson, CFO, DISQO

CFO Thought Leader

Inside The Mentoring Round, CFO Scott Henderson stresses the need to balance rapid growth with effective cost management. CFO Henderson discusses the need to focus on key metrics, such as net revenue and net dollar retention, crucial for a usage-based company. Henderson acknowledges the complexity of forecasting for a usage-based business model compared to a traditional SaaS model. 1,005: From Salesforce Playbook to Start-up Strategy | Scott Henderson, CFO, DISQO The post The Mentoring Round | S

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CBIC invites suggestions on the draft 'Central Excise Bill, 2024'

CFO News

The Central Board of Indirect Taxes and Customs (CBIC) has invited suggestions on the draft 'Central Excise Bill, 2024' from stakeholders. The last date for submitting the suggestions is June 26, 2024.

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An NFL Game-Changer

Global Finance

Seven-time Super Bowl champion Tom Brady wants to co-own a National Football League franchise. Eli Manning, who led the underdog New York Giants to two Super Bowl victories against Brady and the New England Patriots, also wants to buy a team. The rival quarterbacks, now retired, are emerging as likely bidders just as the NFL reevaluates its strict ownership rules.

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Tata Motors Finance to be merged with Tata Capital

CFO News

Tata Motors announced a merger of Tata Motor Finance with Tata Capital, approved by their respective boards. This aligns with Tata Motors' strategy to focus on core businesses and emerging technologies. Tata Capital will issue its equity shares to Tata Motor Finance shareholders, giving Tata Motors a 4.7% stake in the merged entity. Tata Capital, a major NBFC in India, will expand its presence in CV/PV financing, aiming to offer innovative products and digital services.

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7 Essential Criteria for Choosing the Right Payments Partner

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.