What’s Going on in Finance on Today…
Three men have been accused of the largest hack in finance history. The accused allegedly manipulated stock prices, compromised the personal information of 83 million individuals and small businesses, as well as many other crimes; 23-count in total. The companies involved include JP Morgan, Wall Street Journal and others. Uncover the facts here or in the link below.
87% of Forbes Global 2000 companies may be using business software that security experts say is full of vulnerabilities. Onapsis, an online security platform, says if there is a breach involving this software it could cost companies up to $22 million per minute. Not to mention this software was used in 2013 to hack U.S. Investigations Services, a company that handles government employee records. You can’t miss this story if you’re the finance chief, get it here or down below.
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But First, the Finance Win and Fail of the Day…
The real question isn’t who wants to be a millionaire, it’s who doesn’t? Unless of course you already are one. But, for modest folk, penny stocks might be their way into fortune’s front door. Today’s win is an article from moneynews.net about how penny stocks work, why and when to buy, and where to go to get started immediately. See how penny stocks can make you a millionaire in today’s win of the day.
DraftKings and Fanduel have been outlawed in New York as NY’s Attorney General issues a cease-and-desist to the fantasy sports industry giants. Experts say this may set a trend that reaches to other states. Get the entire story of today’s finance fail of the day here, courtesy of nytimes.com.
Chief Accounting Officer Michelle Quejado will serve as interim CFO at the gaming company, which posted better-than-expected earnings for the third quarter.
Security firm Onapsis warns that the “next big wave” of cyber attacks will target business apps running on SAP and Oracle.
While it won’t be a smooth market adjustment, the price of oil should hit $80 per barrel in less than five years, says the IEA.
While positive for GDP, the wholesale inventory number could also reflect slackening demand from retailers.
The impetus to improve working capital starts with top management.
>> Erik Wanberg
Bailed out by the Netherlands with 22 billion euros in 2008, ABN Amro is going back to the public markets.
The 23-count indictment says the three men targeted the networks of nine financial institutions.
“Activism has become a crowded field, with too many players chasing after a diminishing number of attractive targets,” says Moody’s.
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