Powell says Fed’s inflation fight ‘has a long way to go’

The Fed needs to see more signs of easing price pressures before declaring an end to monetary tightening, central bank officials said.

By Jim Tyson • Nov. 9, 2023

MGM Resorts anticipates no further disruptions from September cyberattack

The company expects insurance to cover more than $100 million in losses stemming from lost bookings and disruptions at its Las Vegas properties.

By David Jones • Nov. 9, 2023

Explore the Trendline➔

Compensation: solving the cost-talent puzzle

In today’s strong labor market, CFOs leery of raising wages find creative ways to find and retain key employees.

By CFO Dive staff

PCAOB chief chides auditors for blaming failures on talent shortage

The quality of audits has trended “in the wrong direction for the second year in a row,” PCAOB Chair Erica Williams said.

By Jim Tyson • Nov. 8, 2023

SEC commissioner suggests ‘re-proposing’ climate risk disclosure rule

Some investors seek broader company disclosures with the aim of promoting social change rather than clarifying stock valuations, SEC Commissioner Mark Uyeda said.

By Jim Tyson • Nov. 7, 2023

Palo Alto agrees to buy Talon Cyber Security in M&A ramp-up

The agreement is Palo Alto Networks’ second acquisition of an Israeli tech startup since the start of the Israel-Hamas war last month.

By Alexei Alexis • Nov. 7, 2023

Combative Trump is lukewarm on ex-CFO’s financial reports

Testifying in the $250 million civil fraud case against him, ex-President Trump pinned the main responsibility for his financial reports on his senior executives and outside accountants.

By Maura Webber Sadovi • Nov. 6, 2023

Banks tighten standards on loans to companies of all sizes: Fed

Demand for commercial and industrial loans fell during the third quarter as the Fed pushed up the benchmark interest rate to a 22-year high.

By Jim Tyson • Nov. 6, 2023

Former FTX CEO found guilty of fraud

Nearly a year after the collapse of his $40 billion cryptocurrency exchange, former FTX CEO Sam Bankman-Fried was found guilty Thursday on seven federal counts.

By Gabrielle Saulsbery • Nov. 2, 2023

NJ ranks worst in business taxes with NY close behind

The Garden State may rise from dead last in corporate tax rankings if a 2.5% business tax surcharge expires at the end of this year as scheduled, the Tax Foundation said.

By Jim Tyson • Nov. 2, 2023

SolarWinds CFO avoids charges in SEC action

A cybersecurity suit filed by the SEC names the company’s chief information security officer as a defendant but not its CFO, although the agency previously put both executives on notice.

By Alexei Alexis • Nov. 1, 2023

Companies relying on foreign sales see Q3 earnings slump 4.7%

The dollar rose against other major currencies during the third quarter, eroding revenues at large companies such as Pfizer and Exxon Mobil, FactSet said.

By Jim Tyson • Oct. 31, 2023

Biden’s AI order calls for guardrails to protect workers

The effort highlights growing concerns in Washington over the risks posed by artificial intelligence as companies rush to adopt it.

By Alexei Alexis • Oct. 31, 2023

Small businesses imperiled by credit crunch: Goldman

Federal Reserve officials begin meeting Tuesday to assess several crosscurrents in the economy as companies adjust to the highest borrowing costs in 22 years.

By Jim Tyson • Oct. 30, 2023

Weighing the benefits: Why more employers are transferring DB risk

Moving away from defined benefit plans as the primary retirement program doesn’t require terminating the plan outright.

Oct. 30, 2023

Gensler says SEC aims to avoid overreach on climate risk rule

The SEC chief has come under fire for proposing that companies release data on the greenhouse gas emissions by their suppliers and customers.

By Jim Tyson • Oct. 26, 2023

Gensler says single platform of AI data may trigger financial turmoil

While recognizing the transformative power of AI, Gensler said the technology will likely prompt “herding” in financial markets, creating instability.

By Jim Tyson • Oct. 25, 2023

Risks to earnings put CFOs on defensive: AFP

Rising borrowing costs are straining balance sheets and complicating efforts by CFOs to refinance debt.

By Jim Tyson • Oct. 24, 2023

Trump tasked his ex-CFO, ex-attorney with ‘reverse engineering’ asset values, Cohen testifies

Ex-attorney and former “fixer” Michael Cohen testified as a key witness for the state in its $250 million civil fraud case against his former boss Donald Trump.

By Maura Webber Sadovi • Oct. 24, 2023

Fed warns of stability risk from $24T commercial real estate market

Prices for commercial properties slumped 3.9% from the second quarter of last year to Q2 2023, well below the 3.3% average annual growth beginning in 1997.

By Jim Tyson • Oct. 23, 2023

CFOs should proceed cautiously as SBA loan access eases, experts say

The Small Business Administration's new loan rules are expanding credit access to more companies but experts warn that it could lead some borrowers to take on too much debt.

By Chris Gaetano • Oct. 20, 2023

Powell signals Fed likely to forgo rate hike on Nov. 1

After rapidly hiking rates to a 22-year high, policymakers aim to finely tune monetary policy and curb inflation to 2% without triggering a downturn. 

By Jim Tyson • Oct. 19, 2023

Ransomware projected to see banner year amid ‘big game hunting’

Cyber risk management company Resilience said 2023 is on track to become “the most financially damaging year” for ransomware victims since 2021.

By Alexei Alexis • Oct. 19, 2023

Consumers plan to sustain robust spending: Fed economists

Unexpectedly high consumer spending this year followed a 37% leap in household median wealth between 2019 and 2022, according to the Fed.

By Jim Tyson • Oct. 18, 2023

US accounting degree graduates plunge 7.4%

Students snub accounting for reasons ranging from comparatively low pay to tough requirements for certification, according to financial executives.

By Jim Tyson • Oct. 17, 2023

Cost-cutting failed to save Rite Aid from Chapter 11

The pharmacy chain filed for bankruptcy as it struggled to offload $4 billion in debt, minimize its retail footprint and deal with thousands of opioid-related lawsuits.  

By Grace Noto • Oct. 17, 2023