Mon.Apr 29, 2024

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Wages & Inflation Since COVID-19

Barry Ritholtz

Putting the final touches on my quarterly RWM client call, I wanted to share a chart that is surprising to many people. The above shows changes in the BLS Average Hourly Earnings and Consumer Price Index since the Pandemic blew up in February 2020. What seems to surprise people: On average, U.S. wages have outpaced inflation since 2020.1 What are the key drivers here?

Math 145
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Cannabis firm MedMen files for bankruptcy

CFO Dive

MedMen is liquidating its California assets following a failure to clamp down on excessive debt, with its seventh CFO in a five year period exiting ahead of its bankruptcy.

CFO 282
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How Advisors Can Work With Attorneys To Drive Better Estate Planning Outcomes For Clients

Nerd's Eye View

Financial advisors add value for their clients not only by helping them grow their wealth, but also by working with them to create a plan for how to use it. While much of this process may focus on the client's own lifetime planning needs (e.g., helping them develop a retirement income plan), it often also addresses the client's goals for their wealth after their death.

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Internal audit leaders need to hire more tech-savvy accountants: IIA

CFO Dive

Companies hiring for internal audit need to prepare for disruption from new technology such as artificial intelligence and robotic process automation, IIA said.

Auditing 272
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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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India Inc's revenue growth likely moderated to 4-6% in March quarter, weakest since September 2021

CFO News

India Inc navigates a moderate growth trajectory with a 4-6 per cent revenue increase in the January-March quarter, as revealed by a recent Crisil report. While consumer discretionary sectors drive growth, margin expansion underscores a corporate focus on profitability amidst evolving market dynamics.

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NFRA debars Reliance Home Finance's audit engagement partner for five years for professional misconduct

CFO News

NFRA's crackdown on auditing irregularities at Reliance Home Finance Limited (RHFL) for FY 2018-19 resulted in significant penalties and debarments for professionals. This action follows suspected fraud and lapses in auditing standards, highlighting the need for stringent oversight in financial reporting.

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Trucking firm Saia CFO announces retirement

CFO Dive

Douglas Col will stay on through the end of the year to ensure a smooth transition for his successor.

CFO 144
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India Inc's overseas bond listings treble amid rate cut uncertainty

CFO News

However, market participants anticipate a short-lived trend due to diminishing expectations of a US interest rate cut, dampening the demand for such bonds.

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Recent trends in the remuneration of executives and directors

Corporate Finance Lab

Over the last few years, remuneration in public companies has received considerable attention in both academic and public discourse. Several national and international initiatives have reformed remuneration practices to achieve various objectives, including improving shareholder engagement, encouraging active monitoring by (independent) directors, achieving corporate sustainability, and incentivising long-term value creation.

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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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FP&A for real estate: a guide for finance leaders

Cube Software

What does FP&A for real estate look like? When it comes to the real estate sector, financial planning and analysis (FP&A) plays a crucial role in guiding strategic decisions. At its core, FP&A focuses on forecasting financial outcomes, budgeting, and providing actionable insights to support investment decisions. Given the dynamic nature of real estate markets, FP&A teams are responsible for creating financial models that can adapt to fluctuating property values, changing interest

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Temasek sells 10% stake in Tata Play to Tata Sons for Rs 835 crore

CFO News

Tata Play, India's largest DTH firm with 21 million subscribers, has intimated the Ministry of Information and Broadcasting (MIB) about the change in shareholding, according to one of the persons, who did not wish to be identified. Under the DTH rules, licence holders are required to inform the ministry about a change in shareholding or partnership or foreign direct investment pattern.

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Why developing a continuous learning mindset is important

Future CFO

Finance professionals and their roles have been evolving to keep up with the changes that have been happening here and there in the business world. To this regard, the Association of Chartered Certified Accountants identified ways for professional accountants to make a positive impact in tackling issues such as climate change, social inequality, and a widespread lack of trust.

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Wipro’s new CEO Srinivas Pallia to get max pay of $7 million

CFO News

The IT major in a filing with BSE also said that the former CEO, Thierry Delaporte will be paid $4.33 million in the form of cash compensation and applicable social security contributions, subject to appropriate deductions. Meanwhile another exchange filing also shows that Delaporte sold all his stocks (about 4,72,292 Wipro shares) worth Rs 21.4 crore this month.

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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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The Benefits of Virtual Bookkeeping Services

CFO Share

Considering hiring your first virtual bookkeeper? You’re not alone – since Covid-19, thousands of small businesses have used outsourced bookkeeping services to work remotely on their books. Entrusting financial records to a virtual bookkeeper might feel unnerving, but the advancements in technology and a shift in workplace dynamics offer a compelling array of options that save businesses money and time.

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Paytm Payments Bank’s wallet business fading fast as restrictions bite

CFO News

Regulatory actions cripple Paytm Payments Bank's mobile wallet business, leading to a significant decline in transactions and value. Competitors like Mobikwik, PhonePe, Amazon Pay, and Slice experience growth in their wallet businesses.

Banking 52
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FCF Healthcare & Life Sciences Venture Capital Monitor – USA – 03/2024 published

Fox Corporate Finance

FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF Healthcare & Life Sciences Venture Capital Monitor – USA – 03/2024”. The Monitor is a monthly published overview of venture capital trends in. Read more The post FCF Healthcare & Life Sciences Venture Capital Monitor – USA – 03/2024 published appeared first on FCF Fox Corporate Finance GmbH.

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Auto Industry ramps up C-suite hiring amid post-pandemic sales surge

CFO News

The Indian automobile industry is experiencing a surge in hiring for C-suite executives from diverse consumer-facing sectors to address a talent shortage at the top level amid a post-pandemic sales rebound. Over the past 12-18 months, senior executives from FMCG, consumer durables, and retail backgrounds have transitioned to carmakers like Maruti Suzuki, Bajaj Auto, and TVS Motor Company, traditionally known for hiring engineers and technology experts.

Sales 52
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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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Semiconductors likely in for another massive boost as India tries to make up for lost time in chipmaking

CFO News

The 76,000-crore incentive package was launched in December 2021 to support companies making semiconductors and investing in them. That amount has been nearly exhausted, necessitating a fresh boost for India's big chip plan. And indications are that the coming plan will likely be much bigger in scale.

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Google lays off employees from key teams ahead of developer conference: report

CFO News

Layoffs at Google's Flutter, Dart and Python teams come weeks after the tech giant terminated staff from its real estate and finance teams as well. Google has said the layoffs are not company-wide.

Finance 40
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Paramount Global replaces CEO Bob Bakish with a troika of executives

CFO News

Bob Bakish will be replaced by a troika of executives who will form a new "Office of the CEO." The group includes George Cheeks, the CEO of CBS; Chris McCarthy, CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, the CEO of Paramount Pictures.

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Tatas to speed up Air India-Vistara merger

CFO News

Tata Sons is hastening the integration of Air India and Vistara to operate as a single airline by year-end. Both airlines have initiated merging their operations manuals and transferring flying crew. This move simplifies Tata's aviation business, merging Air India and Vistara into a full-service airline and integrating AirAsia India and Air India Express into a low-cost carrier.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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UltraTech, AM Mining, others eye Vadraj Cement

CFO News

AM Mining India, a joint venture between ArcelorMittal and Nippon Steel, Oaktree Capital-backed India Opportunities XII Investments, and Nirma group-backed Nuvoco Vistas Corporation submitted expressions of interest (EoIs). Naveen Jindal group company called Jindal Panther Cement, and PN Group-promoted CN Infrabuild also gave separate EoIs.

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Travel, tourism sector expected to add 5.82 cr jobs in India by 2033: NLB Services

CFO News

The travel and tourism sector is poised for significant growth, expected to create 5.82 crore jobs in India by 2033. Despite challenges, the sector saw a quick recovery post-pandemic. In 2020, it accounted for 39 million jobs, constituting 8% of the nation's workforce. Talent demand in tourism surged by 44% in August 2023, with 1.6 million additional jobs expected in 2023.

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Indian economy on upward trajectory: NCAER's cites favorable above-normal monsoon forecast

CFO News

The NCAER's April 2024 Monthly Economic Review (MER) highlights the Indian economy's robust performance, citing a 16-year high in the PMI for manufacturing and record UPI transactions. With positive global forecasts and decreasing inflation, the economy looks poised for growth, though online hiring activity shows a slight moderation.

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ICAI seeks tax incentives for entities engaged in green energy projects

CFO News

One of the proposals is for having a separate provision for deduction of expenses relating to education of girl child both under the default tax and alternative tax regimes.

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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.