The Latest
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Hiring in September exceeds forecasts, while jobless rate rises to 4.4%
A fresh jobs report will likely do nothing to narrow a debate among Federal Reserve officials about the best path for monetary policy.
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SEC enforcements slump 30% in fiscal 2025: Cornerstone
Former SEC Chair Gary Gensler oversaw 93% of the 56 SEC enforcement actions brought during the 12 months ended Sept. 30, a report found.
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Courtesy of Xerox
Xerox CFO to exit post after less than a year
Finance chief Mirlanda Gecaj is leaving based on a “mutual decision” with Xerox, the company said.
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FASB takes up new crypto transfers project
The accounting standards setter voted to tackle transfers of crypto assets including wrapped tokens, marking the third digital assets project to hit its technical agenda.
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Inflation ranks as No. 1 worry among small businesses: Bank of America
Most small business owners said their costs have increased 18% on average during the past year, Bank of America said.
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CFOs’ AI adoption slows as challenges mount: Gartner
Data literacy/technical skills and inadequate data quality remain the largest obstacles to AI adoption, the study found.
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Coursera picks outsider for interim CFO amid AI push
Coursera will grant Google alum Michael Foley a $200,000 cash bonus, “contingent upon satisfactory performance of certain key responsibilities” as interim CFO.
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CFOs are reaching for downside budget protections, McKinsey exec says
A conservative sentiment is shaping this year’s budget season, with many companies taking extra care setting spending priorities and realistic goals, McKinsey’s Kevin Carmody says.
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Papa Johns CFO gains dual role, salary bump
Appointing its finance chief Ravi Thanawala to the dual role of CFO and president could signal additional belt-tightening by the pizza chain, Cowen Partners’ Shawn Cole said.
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Alphabet, HP, IBM finance execs spotlight cautious AI pilots
Keeping humans “in the loop” and sanitizing data were among the AI deployment guardrails emphasized by top financial executives at an FEI conference last week.
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Cybersecurity rules vex financial sector CFOs
CFOs in the industry have faced an “an unprecedented tightening of cybersecurity oversight,” cybersecurity firm Omega Systems said.
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C-suite leaders break their own AI rules
Most business leaders are using unapproved tools regardless of compliance requirements, according to a Nitro report.
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Factory activity speeds up to fastest pace in a year: NY Fed
The manufacturing survey by the Federal Reserve Bank of New York, although volatile month-to-month, is widely viewed as a bellwether for U.S. manufacturing.
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Campfire CEO targets ‘systems-first’ accounting approach
An “AI-native” approach to accounting can help free finance professionals and accountants up for more strategic work, Campfire’s John Glasgow said.
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SEC faces IPO backlog, packed regulatory agenda after shutdown
The SEC’s Division of Corporation Finance, which reviews IPOs and other securities offerings, said it’s “working expeditiously” to clear a backlog of filings.
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Most prices in CPI inflation data rising faster than 3%: Apollo’s Sløk
Several Federal Reserve district bank presidents have voiced concern this month about persistent inflation and cautioned against more reductions in borrowing costs.
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Ex-Fabric CFO convicted of wire fraud in $35M crypto scheme
The ex-finance chief was convicted on four counts of wire fraud after the 2022 crypto winter wiped out a $35 million investment of company funds, according to court documents.
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NJ’s once-stalled CPA licensing bill advances after ‘surprise’ vote
If the legislation becomes law, New Jersey is currently on pace to be the 24th state to change the education requirements needed to be a certified public accountant.
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Disney extends CFO contract; increases equity award to $16.5M
The CFO extension comes as Disney remains enmeshed in a content distribution dispute with YouTube TV that could potentially bleed millions in revenue.
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Courtesy of Pat Dorsman for FAF
FASB’s tax rules avert funding threat
The spending bill that ended the federal government shutdown did not include an earlier proposal that called for FASB to withdraw its income tax disclosure standards.
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Courtesy of Waymo
Waymo taps Google exec for CFO seat
The move comes at a “pivotal moment” for Waymo as it continues to scale its autonomous ride-hailing business, Co-CEO Tekedra Mawakana said.
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Real Brokerage reaches ‘settlement in principle’ in ex-CFO’s pregnancy suit
Under the deal that must still be finalized, the residential brokerage company said it will “make no payment” to the former finance chief who filed the discrimination suit.
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CME Group CFO looks to partnerships for long-term growth
In seeking partners, the company looks for “complementary” skillsets, CME Group CFO Lynne Fitzpatrick said.
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Cracking AI value requires CFO-CIO middle ground: Bloomfire
Tech and finance leaders need to ensure they’re guarding against each other’s blind spots to successfully implement AI, Bloomfire’s Brian Zander advises.
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Is the rise of female CFOs pausing — or stalling out?
Women accounted for 17.5% of CFOs at Fortune 500 and S&P 500 companies at the end of June, roughly flat YoY, according to Crist Kolder Associates.
