Trump Media CFO sells $1.9M in company stock

The sale comes as a six-month ban preventing former President Donald Trump from selling his own stock in the beleaguered company inches to an end.

EWA providers crusade against CFPB rule proposal

Earned wage access providers that backed state laws friendly to the industry are preparing for a fight over the Consumer Financial Protection Bureau’s plan to treat such payments like loans.

Powell says ‘time has come’ for rate cut, cites weakening labor market

The Fed chair did not indicate the size of a coming interest rate reduction, keeping alive a debate on how far policymakers will cut borrowing costs.

Prepping for the internal audit, CFO ‘inflection’ point

Internal auditors are joining the CFO as strategic business leaders, according to a Protiviti report.  

Office market approaches ‘peak downsizing’ precipice: CBRE

For the first time since the pandemic, corporate real estate executives’ sentiment has shifted slightly in favor of portfolio expansion, according to a CBRE report.  

Jobless claims edge up, amplifying Fed signals for rate cut

Payrolls in the 12 months ending in March may have grown 818,000 less than previously reported, according to federal data.

Target CFO says GenAI tool is boosting worker efficiency

The chatbot, which helps Target’s team members resolve on-the-job challenges, is making it easier and faster to assist customers, CFO Michael Fiddelke said. 

Longtime Zoom Video CFO to step down

Kelly Steckelberg is leaving the video conferencing platform after seven years as CFO.

US M&A deal value jumped to $124B in July

A total of 141 U.S. deals were recorded last month, a 33% increase compared with June, according to EY data.

Marqeta CFO eyes fintech ‘winners’ following mixed earnings

With the fintech sector maturing, the card issuing platform is turning its attention to capitalizing on rising opportunities in the space, CFO Mike Milotich said.

SEC approves tougher rules targeting auditor ‘negligence’

Two out of the agency’s five commissioners voted against the stricter standards, warning that they may hinder efforts to expand the ranks of auditors.

FTC exceeded its authority with noncompete ban, judge says

The agency’s rulemaking under Sec 6(g) of the FTC Act is procedural, not substantive, Judge Ada Brown of Texas federal court says, blocking a nationwide rule that would have taken effect shortly.

US Bank doubles down on AR with Billtrust

The Minneapolis-based bank’s new offering seeks to accelerate the accounts receivable process  —  sometimes viewed as a laggard in the race to automate finance.

Dentsply initiates CFO search following layoffs, restructuring

Glenn Coleman is leaving as the dental supply company struggles to regain its footing after a 2022 accounting probe uncovered ethical violations by ex-CFO Jorge Gomez.

47% of US firms suffered data breach resulting in severe financial loss

The study comes as the global average cost of a breach has hit nearly $4.9 million this year, according to an IBM estimate.

AI spurs widespread ROI confidence: KPMG

Companies “are moving from experimenting with the technology to really starting to put expectations on it,” KPMG’s Per Edin said.

Walmart used AI to crunch 850M product data points and improve CX

“We're finding tangible ways to leverage generative AI to improve the customer, member and associate experience,” Walmart CEO Doug McMillon said.

Economic data no longer herald recession: Conference Board

Several data points during the past two weeks paint a sunny outlook for the economy, discouraging forecasts of a downturn.

Icahn Enterprises pays $1.5M to settle SEC charges

The civil penalties come more than a year after a short seller’s report lambasted Icahn Enterprises for alleged “Ponzi-like economic structures.”

Guess CFO resigns after one year

The finance chief’s abrupt departure comes on the heels of the apparel manufacturer’s deal earlier this year to buy the trendy fashion brand Rag & Bone.

RBC doubles down on its portrait of ex-CFO’s firing

The bank detailed mementos and texts Nadine Ahn and another exec exchanged, a promotion plan called “Project Ken” and a time when Ahn fired an employee in a “substantively identical” situation.

Kamala Harris proposes grocery price-gouging ban as part of economic platform

Grocery trade groups had mixed reactions, with the National Grocers Association calling for stronger enforcement of current federal antitrust requirements.

PCAOB says deficiencies rise among reports by audit firms

Inspections of nearly half of the firms’ engagements reviewed by the PCAOB revealed evidence that the auditor failed to obtain enough evidence to support its opinion.

Skanska hires new CFO

Jonas Rickberg is currently CFO at Swedish truck maker Scania Group.

Building constructive partnerships to drive digital transformation

Effective digital transformation today means making a much deeper commitment than just buying a new IT product or upgrade, AICPA’s Tom Hood writes.