Corporate Finance

Finance Roundup for Executives

Be informed, get involved, and shape the world through finance.
Kerry MarunaDecember 21, 2015

What’s Going on in Finance from CFO

Controversial pharma executive Martin Shkreli has been charged with misappropriating money from investors in hedge funds that he managed and lying about their financial performance to cover up his trading losses.

Federal prosecutors accused Shkreli of ensnaring investors through “a web of lies and deceit” while he ran the MSMB Capital management and MSMB Healthcare hedge funds and then misappropriating the assets of Retrophin, the drug company he founded in 2011, to pay off disgruntled investors. Read more.

BlackBerry announced better-than expected quarterly results on Friday, suggesting its new focus on software is gaining traction.

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The Canadian company has been pushing higher-margin software and services to manage and secure enterprise mobile networks after its attempt to compete with Apple and Samsung in the consumer smartphone market “failed spectacularly,” The Wall Street Journal said. It has augmented the software push with the development of handsets that foster worker productivity. Read more.

 

Pharma Exec Shkreli Accused of Hedge Fund Fraud

Martin Shkreli raided his pharmaceutical companies to cover up his hedge fund trading losses, said federal prosecutors.

Matthew Heller

 

CFOs on the Move: Week Ending Dec. 18

Starwood Hotels, MSA Safety, Production Resource, Patrick Industries, Innophos, Rentech, Buffalo Wild Wings, Green Dot, Diageo, Senior Housing Properties

Joan Urdang

 

Zurich Buys Wells Fargo’s Crop Insurer

The Swiss company joins other insurers that have been expanding into crop coverage to bet on long-term growth in food demand.

Katie Kuehner-Hebert

 

Lawyer, M&A Master, CFO: SAP’s Arlen Shenkman

The ex-corporate attorney and deal maker takes stock after half a year as the technology giant’s North American finance chief.

Daivd McCann

 

BlackBerry’s Software Focus Gaining Traction

Third-quarter results show Blackberry is making progress with higher-margin software and handsets that foster worker productivity.

Katie Kuehner-Hebert

 

New Gulf Joins Energy’s Chapter 11 Parade

The oil driller has a debt-for-equity swap in place with a bondholder group that will erase more than $400 million in debt from its books.

Matthew Heller

 

Get more financial insights from the CFO library.