Barry Ritholtz
JULY 7, 2024
@TBPInvictus here If you’re tired of California-minimum-wage-and-its-impact-on-limited-service-restaurant-employment stories, I understand. Leave this page immediately. I’m tired of it, too, but some stories are so factually challenged that they demand a response. So, allow me to address a hot mess of a story that appeared recently in the California Globe.
CFO News
JULY 7, 2024
Sebi charged Hindenburg of making "unfair" profits from "collusion" to use "non-public" and "misleading" information and induce "panic selling" in Adani Group stocks.
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Barry Ritholtz
JULY 7, 2024
Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • “The Bear” confronts Carmy’s nightmare: A boss who believes in creating excellence through pain : Bosses like Joel McHale’s NYC chef, who haunted Carmy and this show’s viewers since the start, are all too common. ( Salon ) • Why GPS Is Under Attack : The Global Positioning System runs the modern world.
CFO News
JULY 7, 2024
Nifty 50 companies expect double-digit June revenue, profit growth, with net profit up 26.4% and 20.6% operating margins. Noted sectors' improvements, geopolitical concerns, Maruti Suzuki's volume growth, credit growth issues, moderate inflation effects, and rural consumption. Analysts predict 13% and 17% EPS growth in FY25 and FY26.
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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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CFO News
JULY 7, 2024
While most sectors have a liberal regime where automatic approvals aren't needed, the department for promotion of industry and internal trade is looking at how investment norms for defence can be made more attractive as govt seeks to move more manufacturing in the strategic sector to India.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
CFO News
JULY 7, 2024
The Centre will refund the compensation cess levied on imported goods under Goods and Services Tax (GST) to businesses operating in special economic zones and their developers, effective from 2017. The Central Board of Indirect Tax and Customs has also directed the issuance of refunds of 5% GST collected on food packages intended for the public distribution system (PDS).
CFO News
JULY 7, 2024
Budget expectations: Finance Minister Nirmala Sitharaman completed pre-Budget consultations with diverse stakeholders, setting the stage for presenting her seventh Union Budget on July 23. This first full budget of Modi's third term aims to steer India towards becoming a developed nation by 2047. President Murmu hinted at significant economic reforms ahead.
CFO News
JULY 7, 2024
Traditional groups cap CXO age at 50. A mid-fifties candidate was overlooked. Younger CEOs/CXOs, preferred for tech adaptability post-pandemic, fit the 'sweet spot' age aiding old economy firms. Pawan Goenka noted internal grooming. Rajiv Dube favours longer terms. Young leaders, noted by Harsh Goenka and Claricent Partners, are ambitious and successful.
CFO News
JULY 7, 2024
As much as 86% of 5,562 professionals who responded to a survey put together by job portal Naukri.com for ET said they would be actively looking out for new jobs now that appraisals were over. About 39% of the respondents said their appraisals had been worse than last year, while they were similar for 33% and better for the balance 28%.
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CFO News
JULY 7, 2024
The move comes as US electric carmaker Tesla Inc is still to make any firm commitment on building a factory in India. The policy, which aims to accelerate the local manufacturing of high-end electric cars, currently supports only fresh investments. Consultations are also on with stakeholders on another key issue troubling carmakers.
CFO News
JULY 7, 2024
Paytm Payments Bank faces audit qualification disputes over viability, seeking RBI intervention. Compliance issues led to operational restrictions, prompting directions to transfer businesses. KYC guideline non-compliance has halted income generation and eroded net worth.
CFO News
JULY 7, 2024
Ajay Kumar, a former bureaucrat who retired as India’s defence secretary in 2022, has set up a new venture fund, Mounttech Growth Fund, to back early-stage startups. The Rs 250-crore fund has secured approval from Sebi. The fund will look to back startups in the space, aerospace, and deep tech sectors.
CFO News
JULY 7, 2024
Regulator Sebi expresses concern over unresponsive PMS firms in the market. Compliance issues and potential misuse of licenses highlighted. APMI maintains communication with compliant members. Sebi closely monitoring the PMS sector with a dedicated team. Further developments expected in this industry.
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Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.
CFO News
JULY 7, 2024
But the lack of telecom and technology skills has created a 2.5 million telecom demand-supply gap, which is expected to increase to 3.8 times by 2030, according to TeamLease.
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