Corporate Finance: Page 36
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Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Noble Corp. Files Chapter 11 to Slash $4B in Debt
Offshore drilling contractor Noble Corp., which had been struggling with reduced demand amid plunging oil prices, has filed for bankruptcy with a plan to slash its $4 billion debt burden.The Chapter 11 filing on Friday came two weeks after Noble missed a $15 million interest payment and said it w...
By Matthew Heller • Aug. 3, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Twitter Bitcoin Hack Caused by Phone-Based Phishing Attack
Twitter has disclosed more details about the July 15 incident in which hackers were able to access the accounts of a number of high-profile users to solicit bitcoin payments.In a blog post, the company said hackers targeted a small number of employees through a phone spear-phishing attack to obta...
By Lauren Muskett • July 31, 2020 -
Explore the Trendline➔
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TrendlineTop 5 stories from CFO.com
From CPA licensure changes to undergoing a digital transformation, these are the most popular stories CFOs are reading.
By CFO.com staff -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
CFOs On the Move: Week Ending July 31
Debi Chirichella Hearst named Debi Chirichella as interim president of its magazine group. Chirichella has been the magazine group’s finance chief since 2011. She takes over for Troy Young, who resigned after allegations of workplace misconduct. Young became president of the magazine group in 201...
By Lauren Muskett • July 31, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
3 Things To Look For In Amazon’s Earnings Report
Amazon.com is among the world’s highest-grossing online retailers, with $281 billion in net sales and roughly $365 billion in estimated physical/digital gross merchandise volume in 2019.The company has been a beneficiary during the COVID-19 pandemic as consumers flock to online means of getting t...
By Vincent Ryan • July 30, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
California Pizza Kitchen Files for Bankruptcy
California Pizza Kitchen (CPK) has filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas.The company cited the “unprecedented impact” of the COVID-19 crisis on its operations.“For many restaurants, the COVID-19 pandemic will be the greatest challenge they wil...
By Lauren Muskett • July 30, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
French Company to Buy Fintech YayPay
Anthony Venus pitching YayPay in London in 2015. Publicly held French company Quadient on Wednesday announced the acquisition of YayPay, a software-as-a-service, accounts receivable (AR) automation solutions provider that was named a Tech Company to Watch by CFO in 2019.Quadient said the acquisit...
By Vincent Ryan • July 29, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Opinion
COVID-19 Aftermath: Moving Beyond Quick Fixes to Sustainable Value Creation
Most companies have exhausted their first set of actions in response to COVID-19 — “low-hanging fruit,” so to speak — to stabilize cash flows, increase liquidity, and manage their business through the pandemic. The question now is what else can companie...
By Gregory W. Schooley • July 28, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Remington Files for Chapter 11
Remington Arms, the U.S. gunmaker founded in 1816, has filed for Chapter 11 protection in the U.S. Bankruptcy Court of the Northern District of Alabama.The company listed assets and liabilities both in the range of $100 million to $500 million. Remington said it had $437.5 million in sales in 201...
By Lauren Muskett • July 28, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Sycamore Partners Leads Bid to Acquire Bankrupt JCPenney for $1.75B
Private equity firm Sycamore Partners is leading a bidding war to acquire bankrupt J.C. Penney Company, the New York Post reported Monday.The New York-based firm has made an offer of $1.75 billion to the veteran retailer, according to the Post. It has also proposed a merger of JCPenney with Belks...
By Lauren Muskett • July 28, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Under Armour CFO Warned of Possible SEC Action
After a three-year investigation, the U.S. Securities and Exchange Commission has indicated Under Armour CFO David Bergman could be facing an enforcement action over the sneaker company’s accounting practices.Under Armour disclosed Monday that the company, Bergman, and founder and Executive Chair...
By Matthew Heller • July 27, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Machine Learning Accuracy Assessment and How to Improve Outputs
This article is the fourth in a series of articles called “Opening the Black Box: How to Assess Machine Learning Models.” The prior columns were What Kind of Problems Can Machine Learning Solve?, Selecting and Preparing Data for Machine Learning Projects, and Understanding and Assessing Machine L...
By Devin Rochford and Chandu Chilakapati • July 27, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
SAP to Take Experience Management Unit Qualtrics Public
SAP announced Sunday it is planning to take its experience management (XM) software unit Qualtrics public in the United States.The German multinational software corporation will hold on to the majority ownership of Qualtrics and said the primary objective for the IPO is to “fortify Qualtrics’s ab...
By Lauren Muskett • July 27, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Li Auto Offers EV Future to U.S. Investors
Chinese startup Li Auto is seeking to raise up to $950 million in a bet that U.S. investors will support its vision for an electric vehicle future in China, the world’s largest auto market.The five-year-old automaker, formerly known as CHJ Automotive, said it will 95 million American depositary s...
By Matthew Heller • July 27, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
First American Title Charged Over Cybersecurity Lapses
The New York State Department of Financial Services has filed administrative charges against First American Title Insurance Company, alleging the real-estate title insurer failed to secure tens of millions of documents containing sensitive personal information of consumers.In a statement of charg...
By Lauren Muskett • July 24, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
CFOs On the Move: Week Ending July 24
Joanne Crevoiserat Tapestry, the parent company of Coach, Kate Spade, and Stuart Weitzman, named CFO Joanne Crevoiserat as interim chief executive officer. Crevoiserat takes over for chairman and CEO Jide Zeitlin, who resigned from the company and its board of directors for personal reasons. Crev...
By Lauren Muskett • July 24, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Parent of Ann Taylor, Lane Bryant Files for Chapter 11
Ascena Retail Group, the company that owns Ann Taylor and Lane Bryant, has filed for Chapter 11 bankruptcy protection and plans to close a significant number of stores, the company said.The company has posted operating losses of $2.4 billion with only one year of positive operating profit since t...
By Lauren Muskett • July 23, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Now Is the Time to Change Redundancy Strategy
The COVID-19 crisis has resulted in layoffs on a scale that the U.S. has never seen before. In just 17 weeks, nearly 51 million Americans have filed for unemployment insurance — that’s more than the number of claims filed during the Great Recession. We recently surveyed more than 100 C-suite lead...
By Vincent Ryan • July 23, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
The New York Times Acquires Podcast Company Serial Productions
The New York Times is acquiring the maker of the “Serial” and “S-Town” podcasts, it announced Wednesday.The newspaper didn’t disclose the terms of the deal. People familiar with the matter told the Wall Street Journal that the transaction could be worth as much as $50 million “depending on milest...
By Lauren Muskett • July 23, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Vertex to Offer 21.2M Shares in IPO
Vertex has announced terms for an initial public offering.The Pennsylvania-based tax-software provider said it plans to raise $317 million by offering 21.2 million shares priced between $14 to $16.The deal is expected to price the week of July 27. Vertex is listing on the Nasdaq Global Market und...
By Lauren Muskett • July 22, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Frequent Worker Reporting Lowers Worker Performance
Among the many changes COVID-19 has forced upon the world of work, high in importance is the physical distance it has effected between managers and workers.With a recent survey estimating that 20% of American adults in the COVID-ravaged economy work from home, it has become common for employees w...
By Vincent Ryan • July 22, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Pfizer, BioNTech to Supply U.S. Government Up to 600M Doses of Coronavirus Vaccine
Pfizer and BioNTech have announced the award of another contract to supply their jointly-developed coronavirus vaccine candidate that’s currently in Phase 1/2 development.On Wednesday, Pfizer and BioNTech said the U.S. Department of Health and Human Services and the Department of Defense have exe...
By Lauren Muskett • July 22, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
EBay Sells Classifieds Ad Business for $9.2B
EBay agreed to sell its online classifieds business to Norway-based digital marketplace owner Adevinta.The deal, valued at $9.2 billion, includes eBay getting $2.5 billion in cash and 540 million Adevinta shares. EBay will become a 44% owner of Adevinta with a 33.3% voting stake.The combined comp...
By Lauren Muskett • July 21, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Machine Learning Startup Was a Sham, Says SEC
On Glassdoor, one former employee described YouPlus as “a circus meets a nuthouse.” But YouPlus was even more than that — according to the Securities and Exchange Commission, it was an outright fraud.On Monday, the SEC charged the Mountain View, California-based technology start-up and its chief...
By Vincent Ryan • July 20, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Chevron to Buy Noble Energy for $5B
Oil giant Chevron has reached a deal to buy all outstanding shares of Noble Energy at $10.38 per share or about $5 billion, a premium of nearly 12% to the 10-day average based on closing stock prices on July 17.Under the terms of the deal, Noble shareholders will receive 0.1191 shares of Chevron ...
By Lauren Muskett • July 20, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Trump Administration Pushes for Payroll Tax Cut
The Trump Administration has signaled it will oppose new relief legislation during the COVID-19 pandemic unless an aid bill includes a “payroll tax holiday.”In early May, President Donald Trump said he would not support a relief bill without such a measure.“I want to see a payroll tax cut on both...
By Lauren Muskett • July 17, 2020
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