Fri.Mar 01, 2024

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ADM expects to report ‘material’ internal control weakness

CFO Dive

A Friday filing shed light on the scope of an internal probe into the commodity giant’s accounting practices but was silent on its CFO’s status.

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MiB: David Snyderman, Magnetar Capital

Barry Ritholtz

 This week, we speak with David Snyderman, global head of Magnetar Capital LLC’s alternative credit and fixed-income business. He also serves as chairman of Magnetar’s investment committee and as a member of its management committee. Snyderman, who joined Magnetar in 2005 shortly after its launch, was previously the head of global credit and a senior managing director at Citadel Investment Group, and he served as a member of the management, portfolio management and investment/risk committ

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Trending Sources

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SEC charges Lordstown Motors with misleading investors on sales outlook

CFO Dive

Lordstown’s auditor and adviser also faces SEC sanctions for allegedly violating independence standards.

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Strong Q3 growth may push likely rate cuts to October

CFO News

The stronger than expected real GDP growth in the third quarter may prompt RBI to continue the status quo on policy rate. Economists believe the easing cycle may not begin before October. Rate cuts are unlikely, but RBI's communication on liquidity is important.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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Yelp exec jumps to AI realm, takes Xometry’s CFO chair

CFO Dive

Yelp’s James Miln is joining the manufacturing marketplace provider as a spotlight continues to shine on AI-powered services and offerings.

More Trending

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Legal woes continue for OpenAI as Elon Musk sues over contract breach

CFO Dive

OpenAI eschewed its nonprofit status to become a de facto Microsoft subsidiary, the Tesla CEO alleged in a Thursday filing before the Superior Court of California.

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CXOs feel the heat amid high expectations, low tolerance

CFO News

Indian CXOs encountered career-threatening events at least once last year – 23% said it was due to board disputes, according to an upGrad Harappa study. Public relations issues, economic downturns, cybersecurity breaches, market changes, regulatory/compliance matters and M&A challenges were among the other issues that leaders had to deal with, that posed a risk to their careers.

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Weekend Reading For Financial Planners (March 2-3)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Biden administration could seek to release the final version of the Department of Labor (DoL)'s proposed "Retirement Security Rule" this year, potentially with a January 1 effective date, to ensure it goes into effect before a potential change in administration.

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Viacom18-Star merger may face intense CCI scrutiny

CFO News

The proposed merger between Viacom18 and Star India is likely to face scrutiny from the Competition Commission of India (CCI) due to their significant market shares in the TV and streaming segments. The CCI might order divestment of channels and conduct a detailed investigation.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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With 5x the investment, India will be among top semicon producers by 2028: IT minister Ashwini Vaishnaw

CFO News

The minister said the government will soon notify Telecommunications Bill rules such as right of way and user protection, which don’t need consultations. The next set of rules, which do need public consultations, will be notified after the April-May general elections. He also said Starlink’s satellite web service will be approved shortly. Edited excerpts.

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Myntra secures $54 million fund infusion from parent Flipkart

CFO News

Myntra has been attempting to enhance its portfolio of international brands collections, with premium offerings showing fast growth. This as online fashion in the lower-price segments has lately witnessed a softness in demand.

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NCLT allows 45-day extension for Future unit resolution

CFO News

The resolution professional of the BSE-listed Future Supply Chain Solutions, Rajan Rawat, sought an extension of 45 days, pleading that two prospective resolution applicants have submitted their bids and lenders have already requested them to increase the value of their plans.

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Women contribute only 18% to GDP despite 48% share in population: Study

CFO News

Indian women contribute only 18% to GDP despite constituting 48% of the population. Advancing women's equality could lead to a $28 trillion increase in global GDP, with India potentially seeing a $770 billion boost by 2025.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Sebi bars Brick Eagle for violations

CFO News

It has also taken action against Catalyst Trustee, on whom it imposed a one-year ban on the grounds that it overlooked compliance violations by the fund manager. The ban is only applicable to trustee services provided to funds by Catalyst and not to its mainstay debenture trustee business.

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GST collections for February at Rs 1.68 lakh crore, up 12.5%

CFO News

Out of the total collections, Central Goods and Services Tax (CGST) stood at Rs 31,785 crore, State Goods and Services Tax (SGST) was Rs 39,615 crore and Integrated Goods and Services Tax (IGST) was Rs 84,098 crore, including ₹38,593 crore collected on imported goods.

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