What’s Going on in Finance Today

Facebook has become a gold mine for data, especially by U.S. law enforcement agencies. Global demand rose 18% in early 2015, with U.S. agencies accounting for a third of that total. Facebook has also been told to restrict more of its content by countries worldwide. Learn the facts and numbers behind Facebook data demands with a quick click here, or scroll down.

Hedge fund manager Bill Ackman purchased Allergan stock before the company was bought by Valeant Pharmaceuticals. Allegedly, the buy was based on inside information before any deal was made between the two companies, making a case for insider trading. Find out the laws Ackman broke and the outcome of the case with this link, or scroll below.

CFO.com has the news and information finance professionals need, find it all here in the roundup.

 

But First, the Finance Win and Fail of the Day

Win…

A 7-year-old girl received $77 million in diamonds from here father, a billionaire in Hong-Kong. More impressive is the fact that only two diamonds were bought. One being a 12.03-carat blue diamond worth about $48.5 million. The other a 16.08-carat pink diamond worth $28.5 million. Find out the where’s and why’s in today’s win here: article provided by Kelvin Chan and Jamey Keaten of the associated press at ap.org.

The Future of Finance Has Arrived

The pace with which finance functions are employing automation and advanced technologies is quickening. Rapidly. A new survey of senior finance executives by Grant Thornton and CFO Research revealed that, for just about every key finance discipline, the use of advanced technologies has increased dramatically in the past 12 months.

Read More

Fail…

Nordstrom’s stock took a beating in Q3. Shares took as much as a 20% hit last Friday. They blame the sale of a credit-card portfolio to TD Bank last month. Macy’s department store also had a fall in sales recently, as well as Kohl’s. Get all the details of today’s fail here: article provided by Akin Oyedele of businessinsider.com.

 

Activist Investor Can’t Dodge Insider Trading Suit

A judge finds Bill Ackman can be sued for allegedly buying a stake in Allergan based on inside information about a takeover bid by Valeant Pharmaceuticals.

>> Matthew Heller

 

Hike in Health-Care Costs Sinks to 20-Year Low

Costs for large companies rose just 3.2% this year, according to Aon Hewitt.

>> David McCann

 

Companies Should Update Lease Accounting Systems, Experts Advise

FASB’s vote to proceed with its new standard for reporting lease obligations starts the clock ticking.

>> David M. Katz

 

IMF Urges Caution on U.S. Interest Rate Hike

Spare economic capacity and very low inflation justify keeping monetary policy loose in most major advanced economies, IMF staff said.

>> Matthew Heller

 

Government Requests for Facebook Data Up 18%

Facebook took down 20,568 posts and other pieces of content that violated local laws in the first half of 2015.

>> Matthew Heller

 

Find useful insights in the CFO whitepaper library where top sponsors provide the resources chief executives and finance professionals need. Find it all here.


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