Financial News and Analysis | CFO Dive
WEBRealPage lawsuit opens a new antitrust front for pricing algorithms. The rise of Big Data across the economy raises antitrust concerns, especially where companies are sharing sensitive proprietary data, legal experts say. CFO Dive provides in-depth journalism and insight into the most impactful news and trends shaping the finance industry.
Truist pushes ambitious reorganization in $750M cost-cutting plan
WEBNov 6, 2023 · Truist announced its plan to realize $750 million in cost savings over 12 to 18 months during the Barclays Global Financial Services Conference in September. At the time, CEO Bill Rogers said the company would make “sizable reductions” to its workforce over the next three quarters centered around a restructuring that included consolidated ...
Opinion - CFO Dive
WEBAug 16, 2024 · 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. Brian Croteau • April 25, 2024.
Cannabis firm MedMen files for bankruptcy | CFO Dive
WEBApr 29, 2024 · Dive Brief: Following plummeting stock, an exodus of top leadership and failing efforts to offload ballooning debt, cannabis company MedMen filed for bankruptcy in Canada, citing approximately $561 million CAD (about $411 million USD) in liabilities, according to company filings Friday. The Los Angeles, …
Jobless claims edge up, amplifying Fed signals for rate cut
WEBAug 22, 2024 · Dive Brief: Initial claims for unemployment insurance during the week ended Aug. 17 rose slightly to 232,000 from the prior week, the Labor Department said Thursday, providing another sign of labor market softening and affirming signals from the Federal Reserve of a likely cut in borrowing costs next month. The cooling labor market “means this September we need to start the process of moving ...
Citigroup is actively investing to improve automation, says CFO
WEBJul 18, 2022 · Citigroup’s technology spend shot up 14% this quarter as the bank continues its “transformation” plans, moving forward with several key initiatives designed to bolster automation, improve its data governance and organization and make capital planning more agile, CFO Mark Mason said July 15, during the bank’s second quarter earnings call.
AI developers, led by OpenAI, raise over $50B - CFO Dive
WEBNov 27, 2023 · Dive Brief: Artificial intelligence technology providers like OpenAI and Anthropic have collectively raised over $50 billion in total lifetime private funding, highlighting the strength of the fast-growing market, according to a recent report by research firm Everest Group.. OpenAI, which has raised a total of $11.3 billion since the San Francisco, California-based startup was founded in 2015 ...
Zocdoc taps Morgan Stanley exec as CFO
WEBAug 2, 2021 · Health care startup Zocdoc announced the appointment of Edward Liu as CFO. Liu has spent more than two decades as the head of Americas Technology Banking at Morgan Stanley, and will oversee all of the digital healthcare marketplace’s finances. Just prior to Liu’s hire, Zocdoc overhauled its pricing model, which used to …
CarParts.com CFO loads up inventory as just-in-time delivery loses ...
WEBJan 19, 2022 · CarParts.com has gone from having two distribution centers in 2019 to six, helping to reduce the average time that products get to customers to 1-2 days — down from an average delivery time of nine days three years ago. In addition, the company has invested in AI, machine learning, tools and software. It has also hired a …
Long-term investor frees new Fender CFO to think bigger than exit
WEBJan 28, 2022 · The privately held company’s orders jumped 29% to $1 billion in 2021 from the year earlier, he said. Based on the 2x-3x revenue multiple that lifestyle brands trade at, that roughly pencils out to peg the company’s valuation at $2-$3 billion, he said. “The company has come a long way, he said, noting it was losing money on $40 million in ...