What’s going on in Finance Today?
Bridgestone acquires Pep Boys in an $835M deal. The two American automotive services plan to create an even stronger organization by combining forces. Get the full story below or click here.
The Securities and Exchange Commission (SEC) is charging DBRS over their inability to monitor certain financial instruments, such as residential mortgage-backed securities and some others. More below, or get started here.
There is plenty more to come. Financial stories like these are what executives need-to-know. Get the best news in finance at CFO.com. Here’s today’s roundup…
SEC Filed More Than 800 Cases in 2015
Enforcement actions in the financial reporting and audit area have nearly doubled, to 134, in the past two years, reflecting the SEC’s increased focus.
Red October
How well do you know the history of stock market crashes?
>> CFO Staff
Seeking a Glide Path
Finance executives are working to bring their companies’ pension funds to a safe landing, according to a new study.
>> David W. Owens and Josh Hyatt, Contributors
Bridgestone Buys Pep Boys for $835 Million
The $15-a-share deal expands Tokyo-based Bridgestone’s network of U.S. tire and auto service centers by more than a third.
More Issuers Revealing Pre-IPO Weakness
The portion of IPOs reporting material weaknesses in internal controls rose from 23% in 2011 to 27% in 2014, with 31% projected for 2015, PwC finds.
Xerox Reviewing ‘Options’ – But Not Sale
The company’s stock has not benefited from earlier restructuring efforts, losing more than a quarter of its value this year.
New Home Sales Fall 11.5% in September
The sharp drop in newly-built home sales suggests one segment of the market is cooling, but sales of existing homes rose 4.7%.
DBRS Fined $6M Over Credit Rating Methodology
The SEC’s case against DBRS is the second this year involving credit rating agencies’ evaluations of complex financial instruments.
NYSE’s Owner to Pay $5B for Interactive Data
Data services is Intercontinental Exchange’s fastest-growing business and the acquisition of Interactive Data will make it the No. 3 provider.
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