Biden tax negotiator rejoins KPMG as election weighs on Pillar 2 prospects

Although the U.S. has yet to sign on, the OECD’s new Pillar Two tax rules already apply in more than 30 countries, Michael Plowgian said.

By Maura Webber Sadovi • April 16, 2024

How AI speeds ‘hugely time-consuming’ pricing, quote tasks

Artificial intelligence could cut anywhere from 30% to 70% of the time businesses spend on the quote process, according to Lydia DiLiello, CEO of Capital Pricing Consultants.

By Maura Webber Sadovi • April 15, 2024

Inflation outruns forecasts, prompting market bets on fewer Fed rate cuts

Futures traders cut from 56% to 17% the odds that the Fed will conclude 2024 having trimmed the main rate by more than a half percentage point.

By Jim Tyson • April 10, 2024

Hiring will likely grow even as economy slows in Q2, Q3: Conference Board

Employment will likely remain strong as the supply and demand for labor gradually come into better balance, economists said.

By Jim Tyson • April 9, 2024

6 tips to tackle unpaid invoices as average DSO rises to 59 days

Monitoring and keeping DSO in check is key to preventing cash flow difficulties, Allianz Trade’s Ano Kuhanathan says. 

By Maura Webber Sadovi • April 8, 2024

Powell calls recent inflation, job data high but not game changers for Fed

The central bank must balance the risks of easing monetary policy too early or too late, Powell said.

By Jim Tyson • April 3, 2024

5 tips from CFOs on how to win the CFO seat: McKinsey

Executives aiming to rise to the CFO seat have faced a bright landscape in recent years, with turnover unusually high.

By Jim Tyson • April 2, 2024

IPO market strengthens as economy defies recession forecasts: EY

Investor enthusiasm for artificial intelligence may spur companies to go public in coming months, EY said.

By Jim Tyson • April 1, 2024

Inflation ‘bursts’ may exceed Fed’s 2% target due to public debt: Brookings

Policymakers face several inflationary forces, including rising spending on defense and aging populations, economists said in a Brookings paper.

By Jim Tyson • March 29, 2024

SEC fines Arista Networks founder Bechtolsheim $1M for insider trading

Andreas “Andy” Bechtolsheim, who resigned as Arista chairman in December, allegedly arranged put options contracts for a relative based on non-public information about an imminent deal.

By Jim Tyson • March 26, 2024

Tax-free M&A comes in crosshairs of bipartisan Senate legislation

An effort to scuttle deal-making tax exemptions coincides with signs of life in M&A after a severe slump last year.

By Jim Tyson • March 25, 2024

Office real estate value likely to plunge 26% through 2025: Moody’s

An above-average amount of commercial real estate debt will soon mature and property owners will need to refinance at the highest rates in years, Moody’s said.

By Jim Tyson • March 22, 2024

Companies plan 4.5% pay raises this year, outpacing inflation: Payscale

As price pressures fall, pay increases will help employees recover from the highest inflation in four decades, Payscale said.

By Jim Tyson • March 21, 2024

Fed forecasts three, quarter-point rate cuts in 2024, holds main rate steady

Central bank officials upgraded their projection for 2024 economic growth to 2.1% while predicting unemployment will end the year at 4%.

By Jim Tyson • March 20, 2024

Inflation exceeds forecasts, affirming Fed’s caution on initial rate cut

Futures trading suggested that the odds that policymakers will cut the main interest rate by at least a quarter point on May 1 have plunged to 11% from 52% a month ago.

By Jim Tyson • March 12, 2024

CEO confidence, capital spending plans rise: Business Roundtable

Like CEOs, economists at large companies have grown more optimistic and foresee stepped up spending on business fixed investment this year, Wolters Kluwer said.

By Jim Tyson • March 11, 2024

Powell assailed by Democrats calling on Fed to cut rates from 23-year high

The Fed chair said that policymakers will likely begin trimming borrowing costs sometime this year if data show that inflation is steadily falling.

By Jim Tyson • March 7, 2024

Powell predicts commercial real estate woes will most afflict smaller banks

The Fed, bankers and commercial real estate executives have warned of turbulence as property owners struggle to refinance debt at higher rates.

By Jim Tyson • March 6, 2024

93% of firms use a mix of ESG standards, thwarting uniformity efforts: IFAC

The spotlight on confusion from a jumble of ESG frameworks comes just days before a vote on an SEC rule aimed at ensuring uniformity in climate disclosure.

By Jim Tyson • March 4, 2024

SEC charges Lordstown Motors with misleading investors on sales outlook

Lordstown’s auditor and adviser also faces SEC sanctions for allegedly violating independence standards.

By Jim Tyson • March 1, 2024

Fed’s key inflation measure rose in January, validating high-rate hold

Policymakers have refrained from declaring sufficient progress in their fight against inflation, pushing back by several months market expectations for a rate cut.

By Jim Tyson • Feb. 29, 2024

Fed official makes a case for the dollar’s hegemony

Can the dollar’s reign as the world’s reserve currency persist? This Fed official makes a strong case, but digital doubts may remain.

By Lynne Marek • Feb. 28, 2024

Consumer confidence falls, breaking three-month rising streak

Spending by consumers is showing signs of sputtering after propelling better-than-expected economic growth last year.

By Jim Tyson • Feb. 27, 2024

Economists predict 2.2% GDP growth, outstripping prior 2024 forecast: NABE

Data on the job market, and consumer and producer prices, suggest the Fed may need to keep the main interest rate at a 40-year high longer than markets anticipated.

By Jim Tyson • Feb. 26, 2024

More than half of accountants make several errors each month: Gartner

Accountants with excessive workloads tend to err through manual mistakes, lax review of records or misinterpretation of data, Gartner said.

By Jim Tyson • Feb. 21, 2024