Twitter whistleblower claims may bolster federal privacy push

Bipartisan efforts to protect consumer information may gain momentum following allegations that Twitter failed to safeguard private data.

By Jim Tyson • Aug. 23, 2022

Earnings Roundup: Big oil CFOs brace for inflation, eye demand

Exxon and Chevron finance chiefs signaled on second quarter earnings calls that they are closely tracking demand as recession worries loom.  

By Grace Noto • Aug. 23, 2022

Fed unlikely to avoid recession: economists

Almost 50% of economists believe a downturn will begin by the first quarter of 2023, the National Association for Business Economics found in a survey.

By Jim Tyson • Aug. 22, 2022

Supply chains unclogging, slowing inflation: report

With coronavirus disruptions waning, goods are flowing more smoothly across the economy, reducing price pressures, RSM said.

By Jim Tyson • Aug. 19, 2022

U.S. may fall into recession by early 2023: Conference Board

Factors including stock market volatility and a slump in both housing construction and manufacturing orders could cause a downturn by early next year.

By Jim Tyson • Aug. 18, 2022

Former Trump CFO pleads guilty in tax scheme

At the core of the charges that Trump Organization executive Allen Weisselberg pleaded guilty to Thursday is a scheme to evade income taxes by hiding compensation.

By Maura Webber Sadovi • Aug. 18, 2022

Fed planned more tightening while noting risk of going too far

Central bank officials last month gave no indication of plans to slow their fight against inflation while noting an imperative to alter policy based on fresh economic data.

By Jim Tyson • Aug. 17, 2022

SEC backs tougher rules for audits involving multiple firms

SEC Chair Gary Gensler hailed efforts to avert significant errors in audits by multiple firms, including mistakes in the calculation of revenue and measurement of fair value.

By Jim Tyson • Aug. 16, 2022

Consumer sentiment rises on improved inflation expectations

The falling price of energy and other essential goods buoyed consumer sentiments, the University of Michigan found in a survey this month.

By Jim Tyson • Aug. 15, 2022

‘Inflation persistence has jumped’: Richmond Fed

Price pressures, pumped up by the pandemic and other shocks, have proven more durable in the past several quarters compared with a period beginning in 2008.

By Jim Tyson • Aug. 12, 2022

Inflation Reduction Act may backfire: Tax Foundation

Republicans and Democrats clash over the impact on inflation from a health care, climate and tax bill scheduled for a vote by the House.

By Jim Tyson • Aug. 11, 2022

Inflation slows but probably not enough to deter Fed tightening

Central bank officials say they need to see consistent signs that price pressures are falling toward their 2% target before they declare victory against inflation.

By Jim Tyson • Aug. 10, 2022

IFF CFO sees ‘meaningful’ cost increases next year

International Flavors & Fragrances CFO said the ingredient maker is rethinking contracts as part of its effort to combat inflation. 

By Maura Webber Sadovi • Aug. 9, 2022

Inflation anxiety hits highest level since 1979: NFIB

Small businesses flagged several reasons for pessimism beyond price pressures, including a tight labor market and crimped supply chains, NFIB found in a survey.

By Jim Tyson • Aug. 9, 2022

Companies reporting weak earnings go unpunished

Several CFOs have announced disappointing second-quarter earnings while not triggering a decline in their company’s share price, FactSet said.

By Jim Tyson • Aug. 8, 2022

Bankrupt Celsius pulls bid to hire ex-CFO

Cryptocurrency firm Celsius pulls motion to tap its former CFO as a bankruptcy advisor following legal objections filed from investors.

By Grace Noto • Aug. 8, 2022

‘Hot’ job gains bolster case for aggressive Fed tightening: economists

Payrolls grew last month at more than twice the consensus forecast, belying concerns that the U.S. economy is in recession.

By Jim Tyson • Aug. 5, 2022

SEC should require global tax disclosure: transparency group

Spotty public disclosure by U.S. companies on foreign tax risk may erode investor confidence and increase the odds of financial market instability, according to the FACT Coalition.

By Jim Tyson • Aug. 4, 2022

Bankrupt Celsius, investors clash over former CFO advisory role, allege double dipping

Investors are taking steps to block Celsius from tapping former CFO Rod Bolger as a bankruptcy advisor, a bid that comes with a costly $92,000 monthly price tag for the insolvent company.

By Grace Noto • Aug. 4, 2022

CFOs facing tight labor market revise pay, reward plans

Companies are shifting how they attract employees as many “help wanted” signs go unanswered, Willis Towers Watson said.

By Jim Tyson • Aug. 3, 2022

FTC widens federal crackdown on COVID-19 scams

The Federal Trade Commission triumphed in lawsuits against companies that in early 2020 exploited the rush to combat the coronavirus.

By Jim Tyson • Aug. 2, 2022

CFOs look for consistency, transparency in emerging sustainability requirements

CFOs globally are asking for added transparency and more consistency as regulatory bodies gear up to publish sustainability reporting standards later this year.

By Grace Noto • Aug. 1, 2022

SEC may take ‘fresh look’ at auditor conflicts of interest: Gensler

Decades after the Enron accounting scandal led Congress to direct the SEC to create stronger barriers between auditors and other parts of their firms, auditor conflicts of interest persist.  

By Maura Webber Sadovi • July 28, 2022

Recession likely to begin in first quarter 2023: Fannie Mae

The Fed will probably succeed in slowing inflation but its withdrawal of stimulus may trigger a recession early next year, economists said.

By Jim Tyson • July 22, 2022

Most accountants suffer burnout: study

A high level of chronic stress increases the rate of accounting error, prompting many companies to reopen their books after closing to fix mistakes.

By Jim Tyson • July 21, 2022