Mon.Oct 07, 2024

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A Cascade Effect On Interest rates

Global Finance

VOL. 38 NO. 9 At Global Finance , generating the report cards for central bank governors has always been a complex and thorough project. Scoring more than 100 governors from very different economies and with such different mandates for their central banks is a complex task. However, our commitment to applying similar analytical criteria for all ensures that our analysis is comprehensive and reliable, carrying important implications for the global economy.

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AI investments require the CFO’s expertise – and vice versa

CFO Dive

AI aids CFOs' top goals, with 1 in 3 finance firms using it for automation and forecasting.

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UPDATE: New CA QSR Min Wage Study. A Victory Lap.

Barry Ritholtz

@TBPInvictus here: If you’re not aware of the brouhaha that was stirred about a year or so ago when CA Gov Gavin Newsom signed into law (taking effect April 1, 2024) a new $20 minimum wage for so-called “limited service” (a/k/a fast food or QSR) restaurant workers, read up here , here , or here. In a nutshell, the usual suspects’ heads exploded well before the legislation even took effect, claiming it would lead to widespread devastation in the fast food space: job losses

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CFO compensation at recent IPO companies hits $1.2M average

CFO Dive

Setting executive compensation has become more complex for companies considering an IPO because of regulatory, legal and other factors, Alvarez & Marsal said.

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Automation, Evolved: Your New Playbook For Smarter Knowledge Work

Speaker: Frank Taliano

Document-heavy workflows slow down productivity, bury institutional knowledge, and drain resources. But with the right AI implementation, these inefficiencies become opportunities for transformation. So how do you identify where to start and how to succeed? Learn how to develop a clear, practical roadmap for leveraging AI to streamline processes, automate knowledge work, and unlock real operational gains.

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OpenAI Faces Competition From France, Japan

Global Finance

OpenAI continues to attract tons of venture capital, its accumulated take reportedly hovering at $6.5 billion most recently. And a valuation that now exceeds $150 billion might appear to give the Microsoft and Softbank-backed startup an insurmountable advantage in the generative artificial intelligence (GenAI) space. But emerging players like Paris-based Mistral AI and Tokyo-based Sakana AI are gaining ground, says entrepreneur Ilya Kulyatin, who founded Tokyo AI, a community of over 1,000 AI pr

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Kenya: High Court Quashes Privatization Law

Global Finance

Kenya’s President William Ruto has been adamant about the need to boost the productivity of state-owned enterprises (SOEs) that he says are “trapped in bureaucracy.” Last year, his government hurriedly pushed through a vastly criticized privatization law aimed at sidestepping Parliament in the sale of at least 35 entities. Now, a High Court decision declaring the 2023 Privatization Act unconstitutional has stopped the sales.

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BMO’s Climate Fellows help advance our Climate Ambition

Bank of the West

BMO employees are driving progress toward a more sustainable and resilient future through the BMO Climate Institute Fellowship program BMO’s Climate Ambition compels us to be our clients’ lead partner… Read more The post BMO’s Climate Fellows help advance our Climate Ambition appeared first on About BMO.

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Forecast: The next I Bond fixed rate should be 1.20%

Tips Watch

But there is danger of an ‘outlier’ decision by the Treasury. By David Enna, Tipswatch.com It’s already Oct. 7 and we are closing in on Treasury’s November reset of the fixed and variable rates for U.S. Series I Savings Bonds.

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CFO Corner With Iveco Group’s Anna Tanganelli

Global Finance

Since December 2023, Anna Tanganelli has served as Chief Financial Officer of Iveco, the commercial vehicles business that was spun off from CNH industrial in 2021. Tanganelli started her career at UBS, then moved to Fiat Chrysler Automobiles (FCA), where she held various roles, primarily in Business Development and M&A. In 2019, she was appointed CFO and Head of M&A for Magneti Marelli and CFO for the EMEA region within the broader Marelli Group.

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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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Wealth.com Raises $30M To Provide Estate Documents To Advisors’ Clients (And More Of The Latest In Financial #AdvisorTech – October 2024)

Nerd's Eye View

Welcome to the October 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that digital estate planning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which

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Norway: Electric Car Ownership Outnumbers Gas Cars

Global Finance

In a global first, the Norwegian Road Federation (OFV) said last month that electric vehicles (EVs) now outnumber gas-powered models in the country. Out of 2.8 million private cars currently registered, 754,303 are fully electric, surpassing the 753,905 running on petrol. The news came on the heels of another record; EV sales in Norway took a 94% market share in August.

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Instantia partners with ION FX for trade execution and risk management

Reval

LONDON – 08 October 2024: ION, a global leader in trading and workflow. The post Instantia partners with ION FX for trade execution and risk management appeared first on ION.

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Intel In Crosshairs Of Apollo, Qualcomm

Global Finance

Apollo Global Management has expressed interest in buying Intel; industry heavyweight Qualcomm was earlier reported to be considering a takeover of the Santa Clara, California-based semiconductor behemoth. Benchmark tech analyst Cody Acree argues that a private equity firm like Apollo is a better fit for struggling Intel. “Who benefits from Intel’s resurgence other than a core investor?

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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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Malaysian e-commerce market to reach $14.7 billion by 2028, study says

Future CFO

The Malaysian e-commerce market is expected to grow at a compound annual growth rate (CAGR) of 8.5% between 2024 and 2028 to reach MYR67.1 billion ($14.7 billion) in 2028, according to data and analytics company GlobalData. According to GlobalData's E-Comerce Analytics, the anticipated spike is driven by the ongoing shift in consumer preference from offline to online shopping.

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Sports Betting: FanDuel Parent Wields M&A To Expand

Global Finance

Flutter, the Dublin-based parent of FanDuel, bought Italian gambling service Snaitech last month for $2.6 billion, hard on the heels of its purchase of a majority stake in NSX Group, one of Brazil’s biggest gambling operators. The sports betting giant spent roughly $3 billion in total; both acquisitions are expected to close in the second quarter of 2025.

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From One Young World delegates to emboldened ambassadors of change: Wrapping up the 2024 One Young World Summit 

Bank of the West

Big progress requires bold thinking, and the next generation of changemakers are at the forefront of that thinking, driving new ideas forward that will change the future for the better… Read more The post From One Young World delegates to emboldened ambassadors of change: Wrapping up the 2024 One Young World Summit appeared first on About BMO.

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India Bails Out The Maldives

Global Finance

India last month extended the fiscally precarious Maldives a $50 million interest-free loan, helping stave off a potential default on $500 million in Sukuk bonds. The loan will support coupon payments due this month. The bonds, issued in 2021, were subscribed by countries including Egypt, Pakistan, South Africa and the UK. Sukuk bonds comply with Islamic law , offering investors a way to generate returns without violating the prohibition on interest.

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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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Securitisation volumes in India touch Rs 60,000 crore in Q2 FY25: Report

CFO News

The securitisation volumes of standard assets in India reached Rs 60,000 crore in the July-September period in FY25, a growth of 36 per cent on quarterly basis and 31 per cent on year-over-year basis, according to a report on Monday.

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Dealmaker-In-Chief: Unicredit CEO Andrea Orcel

Global Finance

True to his reputation as a consummate dealmaker, Unicredit CEO Andrea Orcel is orchestrating one of the largest cross-border bank mergers ever in Europe. Last month, Unicredit swiftly and dramatically raked up a more than 20% stake in Germany’s second-largest listed lender, Commerzbank. Should the takeover go through, it would create one of the largest lenders worldwide, reshaping the banking sector in Europe.

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At $19 billion, India Inc sees highest quarterly deal volumes in 2 years

CFO News

India Inc saw 551 deals worth $19 billion in the July-September period, clocking highest quarterly deal volumes in two years, a report showed on Monday.

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Veteran Nike Executive Taking Reins Of Shoe Giant

Global Finance

After four years in command at Nike, CEO John Donahoe is handing over the helm to Elliott Hill, a 60-year-old executive who has spent more than half his life at the footwear empire. Hill joined Nike in 1988 as an intern and was heading commercial and marketing operations for Nike and the Jordan brand when he retired after 32 years in early 2020, just as Donahoe’s tenure started.

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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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Indian alcoholic beverages industry to see 8-10 pc sales growth in FY25

CFO News

The domestic alcoholic beverages industry is likely to see 8-10 per cent revenue in FY25, led by steady demand for beer and a revival in consumption of spirits, along with increasing consumer preference for premium products, a report said on Monday.

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Sri Lanka: New President Wins In An Upset

Global Finance

In a massive political upset, a neo-Marxist political outsider won September’s presidential election in Sri Lanka. The victory of Anura Kumara—widely known by his initials, AKD—and his People’s Liberation Front (JVP) represents a complete defeat for the country’s traditional elite. It also casts a long shadow of uncertainty over a country emerging from its most crippling economic crisis since independence.

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About 93% of Indian CEOs plan to hire in next three years, see growth amid challenges: KPMG survey

CFO News

Indian CEOs have shown a higher level of confidence in the global economy compared to their global counterparts, with 80% expressing optimism, compared to 72% globally.

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Companies signal pullback on Israel-Gaza philanthropy: Conference Board

CFO Dive

As the conflict enters its second year, some companies will likely wind down funding commitments amid concern about backlash to corporate policies, the Conference Board’s Andrew Jones said.

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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.