Corporate Finance

Finance Roundup for Executives

Be informed, get involved, and shape the world through finance.
Kerry MarunaMarch 7, 2016

Standout Stories

China devalues Yuan… The G20 did nothing last weekend. And that’s really something. Especially for U.S. companies like Apple.

Leading up to the G20 summit, there was hope that world leaders might strike a new currency agreement. But no such luck. Even U.S. Treasury Secretary Jacob Lew, who has for years been pushing China hard to de-peg its currency from the U.S. dollar, seemed comforted by China’s weak promise that “There is no basis for persistent [yuan] depreciation from the perspective of economic fundamentals.” Read full article.

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M&A due diligence… Companies working on a merger or acquisition pore over a seemingly endless amount of material to determine the transaction’s suitability. Ironically, one of the most important assets for most companies, data, gets relatively attention in the process.

Developing a comprehensive understanding of a target’s data and information assets usually results in a transaction with substantially lower risk — especially cyber risk — and creates vast opportunities for value creation. Read full article.

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Headlines

Slowdown in Smartphone Sales Seen for 2016

Smartphone shipments will grow 5.7% in 2016, with iPhone shipments declining 0.1%, says IDC.

 

CFOs on the Move: Week Ending March 4

Sotheby’s, Monster, Bruker, Waterstone Financial, NextEra Energy, Cottage Health, Stonegate Mortgage, Rocket Fuel, Monolithic Power

 

Cell Phone Fraud: Who’s Watching IT?

Cell phone procurement fraudsters have typically worked in information technology departments.

 

Gee, 20: No New Currency Deal, China Devalues Yuan

China’s move, just two days after saying it would not devalue its currency, is unfortunately business as usual.

 

AMC to Buy Rival Carmike Chain for $1.1 Billion

The deal adds to the Hollywood holdings of Chinese billionaire Wang Jianlin, creating the largest U.S. movie theater chain.

 

U.S. Beats Expectations With 242,000 Job Gain

The strong February jobs report suggests steady consumer spending “is bolstering demand and prompting employers to expand their workforces.”

 

Intuit Finds Private-Equity Buyer for Quicken

H.I.G. Capital is confident the personal finance software, which was only a small part of Intuit’s business, will thrive with increased investment.

 

Samsonite Targets Luxury With Tumi Purchase

The $1.8 billion deal “will meaningfully expand our presence in the highly attractive premium segment,” Samsonite’s CEO says.

 

Monsanto Lowers 2016 EPS Guidance

Lower prices, currency volatility, and regulatory delays are all playing a role in the weaker earnings forecast.

 

C-Suite Optimism Falls Sharply: AICPA

Executives with CPAs at U.S. companies say profits are expected to grow less than 1% over the next 12 months.

 

Seven New Questions for M&A Due Diligence

Assessing a target’s data assets isn’t something to leave until after the transaction is completed. Here’s what you need to find out up-front.

 

Industry in China: The March of the Zombies

China’s excess industrial capacity harms its economy and riles its trading partners.

 

Job Cuts Continue to Rise In Energy Sector

Layoffs at U.S. companies in February were up 22% from a year ago.

 

Dwolla Fined $100K Over Lack of Data Security

A first-of-its-kind action by the CFPB finds the payment network provider’s security practices “fell far short” of its claims.

 

CEOs Could Get $80M After Dow-DuPont Merger

The two companies’ CFOs would also get ‘golden parachute’ payments totaling $21.2 million.

 

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