The Latest

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    RealPeopleGroup via Getty Images
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    Driven Brands CFO resigns after one year on job

    The automotive services company’s shares slumped Thursday after it released earnings and announced its finance chief is leaving the company.

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    abdoudz via Getty Images
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    US inches forward on real-time payments: report

    “Real-time payments are still in their infancy in the U.S., accounting for only a 1.5% share of the total payments volume in 2023,” according to a report by ACI Worldwide.

  • Header image for "Fed Shows Resolve to Hit 2% Inflation Goal, Raises Rates Again"
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    Getty Images via Getty Images
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    Fed holds main rate steady, citing lack of progress against inflation

    Fed Chair Jerome Powell said that the central bank will likely need to sustain current borrowing costs longer than it had expected early this year.

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    Getty Images via Getty Images
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    Auditoria.AI’s ‘human-in-the-loop’ option targets automation-wary finance teams

    When it comes to new technologies, CEO Rohit Gupta sees CFOs and their finance teams as “fast followers” rather than early adopters.

  • AWS logo on display at AWS Summit New York, July 26, 2023.
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    Courtesy of AWS
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    Amazon clinching bigger, longer cloud deals after AI boost: CFO

    Amazon is the latest tech giant whose hefty AI spending has been rewarded by Wall Street in the current earnings season. Meta has been an exception.

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    ktasimarr via Getty Images
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    Deep Dive

    Modern finance team makeovers: Chief accounting officers

    CFOs and CAOs have developed a “symbiotic relationship” as the finance function morphs into a driver of business strategy.

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    Matt Burkhartt via Getty Images
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    Cornell University CFO meets with students, protesters

    As protests swept across U.S. college campuses last week, the Ivy League university's finance chief stepped into the fray.

  • A bronze sculpture of an eagle with a 16-foot wingspan adorns the outside of the Federal Reserve Bank of Atlanta.
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    Jens_Lambert_Photography via Getty Images
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    Wage gains, inflation undercut Fed forecast for three rate cuts this year

    A report of rising wages prompted traders in interest rate futures to dial down bets on reductions in the Federal Reserve’s main interest rate.

  • Meta logo sign outside California headquarters
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    Kelly Sullivan via Getty Images
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    Meta falls in AI reckoning as Microsoft, Google soar

    Investors rewarded AI spending strategies at Microsoft and Google but rebuffed Meta, whose stock plummeted.

  • Google and the Consortium of Cybersecurity Clinics are collaborating on an effort to train diverse students in cybersecurity.
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    Courtesy of Consortium of Cybersecurity Clinics
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    Global cyber talent shortage could hit 85M workers by 2030: report

    Cybersecurity threat actors' innovative methods are driving up demand for professionals with diverse and specialized skill sets, the World Economic Forum said.

  • Team of consulting auditors auditing the financial report data of the company (balance sheet, income statement) on computer screen with business charts, fintech
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    NicoElNino
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    Internal audit leaders need to hire more tech-savvy accountants: IIA

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

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    Courtesy of Cannabis plants
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    Cannabis firm MedMen files for bankruptcy

    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. 

  • Header image for "Biden Names 3 Nominees to Fed's Board of Governors"
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    CFO Editorial Staff
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    FedNow pricing aimed at avoiding market disruption

    The Federal Reserve aimed to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a Fed official said Wednesday.

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    Photo provided by Saia. 

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    Trucking firm Saia CFO announces retirement

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

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    Courtesy of U.S. Bank
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    Rising geopolitical worries, war drive CFO hedging, US Bank says

    The threat of geopolitical tensions is a growing worry for finance leaders while concerns about inflation have eased, a U.S. Bank study found.

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    Hiraman via Getty Images
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    ‘Quantum advantage’ may boost businesses $2 trillion by 2035: McKinsey

    The federal government has stepped up investment in quantum technologies, more than doubling research and development spending since 2019.

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    Courtesy of Chemours
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    Chemours CFO resigns following accounting investigation

    Jonathan Lock’s resignation comes after an internal audit determined he had engaged in unethical financial practices.

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    Customers Bancorp reframes ex-CFO’s dismissal

    Carla Leibold's departure was by "mutual agreement," not "cause," the bank holding company said in an amended filing. Leibold will receive $2.5 million but will forfeit her equity awards.

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    Companies cut salary budget increases to 3.6%, trim promotions: Mercer

    Plans for slower gains to salaries align with Thursday data showing that economic growth slowed to just 1.6% last quarter, far less than expected.

  • The prize center inside a Dave & Buster's restaurant
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    Michael Loccisano/FilmMagic via Getty Images
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    Former Chuck E. Cheese exec takes Dave & Buster’s CFO seat

    The change comes as Dave & Buster's looks to drive growth through a dining experience overhaul, among other initiatives.

  • Header image for "Audit Regulators Vow a Tougher Regime"
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    CFO Editorial Staff
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    Opinion

    Proposed PCAOB rule risks turning auditors into legal watchdogs

    The NOCLAR proposal would impose on auditors greatly expanded responsibilities for identifying — or even preventing — noncompliance with a very wide range of laws, PwC’s Brian Croteau writes.

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    More M&A players hold back stay-bonus ‘dry powder,’ WTW says

    Despite a recent uptick in mergers and acquisitions, some buyers are nonetheless growing more guarded about tapping their retention bonus budgets.

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    Hollie Adams via Getty Images
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    Heathrow CFO transitions to COO role

    Javier Echave is exiting the CFO role on a high note, after a record 18.5 million passengers traveled through the airport during the first quarter.

  • Tesla cars in a holding area in England
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    Leon Neal via Getty Images
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    Tesla CFO eyes pullback in EV market amid slumping sales, restructuring

    Tesla is leaning on AI, layoffs and new autonomous projects to help boost its future sales after a disappointing first quarter. 

  • noncompete agreement ban
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    FTC approves nationwide noncompete ban

    In a difference from the proposed rule, senior executives subject to a noncompete agreement previously will remain subject to it; the ban will apply to executives going forward.