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To drive AI efficiency, CFOs must focus on its ‘fuel’: OneTrust
As the AI age dawns, CFOs need to be sure they’re focusing on what actually makes that technology tick — data, CFO Guido Torrini says.
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SEC imposes $390M in fines in crackdown on shoddy record-keeping
The agency that regulates Wall Street in the past year has slammed several financial services companies for flawed record-keeping.
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Cisco plans to cut 7% of workforce amid AI push
The tech giant is “shifting hundreds of millions of dollars” into artificial intelligence and other growth areas of its business, CEO Chuck Robbins said.
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Opinion
How to push price and bust currency devaluation
Whether for increased revenue or profitability, corporate growth requires price increases — potentially as frequently as every six months, Adam Echter writes.
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Women rise to five-year high in CFO appointments
Accenture, Ford and Google parent Alphabet are among companies that have appointed women to top finance posts this year.
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Inflation slows to three-year low, clearing way for Fed rate cut
The central bank at a meeting next month will likely weigh cooling inflation against signs that the labor market is loosening up.
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Chipotle CFO postpones retirement; stays on in president role
Jack Hartung will stay on to help advise Chipotle’s leadership following Brian Niccol’s planned jump to Starbucks.
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Producer price inflation slows, brightening outlook for Fed rate cut
The less-than-forecast gain in PPI last month bodes well for a decline in economy-wide price pressures in coming months.
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Starbucks taps CFO for interim CEO in midst of leadership shift
Starbucks alum Rachel Ruggeri will step in as interim CEO as the coffee chain continues to fight labor activists and political protesters, leading to slumping sales.
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M&A, vendor reliance help drive up ransomware threat: report
The financial severity of claims related to ransomware attacks increased more than 400% from 2022 to 2023, the study found.
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Opinion
Bolstering the CFO-CRO relationship to ensure AI investment returns
The CFO and CRO can serve as a crucial duo as organizations face pressure to launch revenue-generating AI projects, writes MinIO CFO Mark Khavkin.
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"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC slaps $3.5M fine on former Ideanomics CEO for alleged fraud
Since its inception in 2004, Ideanomics has switched its business model at least three times, from video on demand to petroleum trading products to electronic vehicle services.
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Fractional experts, AI can ease pressures on ‘overextended’ finance teams
CFOs need to bring flexibility to overburdened finance teams to navigate economic headwinds, Paro’s Michael Burdick said.
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"Royal Bank of Canada's global headquarters at 200 Bay Street in Toronto, Canada" by Francisco Diez is licensed under CC BY 2.0
RBC ex-CFO sues bank for $35.6M
Nadine Ahn and Ken Mason, another fired RBC exec, didn't have an affair, each said in court filings, contrary to a “clear insinuation” from the bank. Further, Ahn said she missed out on a path to CEO.
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IRS restarts review of employers’ claims for pandemic tax credit
The agency last year suspended processing applications for the Employee Retention Credit after reports of fraud.
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NJ law firm asks court to dismiss ex-CFO’s Chap. 11 bankruptcy case
The ex-CFO, who pleaded guilty to embezzling $1.5 million from his former employer, filed the petition for bankruptcy to delay pending litigation, the motion argues.
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Flywire acquires Invoiced for $55M
By way of the latest deal, the software company seeks to further expand its international payments services for its business-to-business clientele.
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Jobless claims dip below forecasts in glimmer of hope for labor market
The report on initial jobless claims helped fuel a rebound in equity markets following news last week of job market weakness.
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Disney anticipates ‘flattish’ theme park revenues in Q4: CFO
Lower income consumers are “feeling a little bit of stress," while high income individuals are "traveling internationally a bit more,” CFO Hugh Johnston said.
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CFOs must act as data, decision-making center: Pigment
CFOs need access to a wide range of data to ensure they can react speedily to market challenges, Pigment CEO Eleonore Crespo says.
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Delinquencies rise as household debt hits record high: NY Fed
Rising consumer debt and delinquencies, along with an increase in unemployment, have shown no signs of dampening consumer spending.
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AI prep is top challenge for companies drowning in ‘unstructured data’
The AI boom is forcing companies to consider data management upgrades, as some face budget constraints.
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CFO, CIO partnership key to bridge tech, talent gap: Workday
By taking point on technology initiatives, CFOs can shape the future of how their company leverages new solutions, Workday’s Terrance Wampler said.
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Most big-company clawback policies go beyond SEC rules
Companies tend to want more executives to give back more types of compensation for more types of problems than what the government requires of them, an analysis finds.
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Job market setbacks do not ‘portend’ broad slump: Conference Board
Investors fearing a recession have pulled back from risk since a report on Friday that unemployment last month rose to 4.3%.
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