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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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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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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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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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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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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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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