Corporate Finance: Page 53

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    WH Smith to Buy Marshall Retail Group

    U.K. retailer WH Smith made its second push into the U.S. airport retail space with a $400 million deal to buy travel retailer Marshall Retail Group.WH Smith, which sells books, travel accessories, and food, has been aggressively opening new shops at major airports worldwide.Marshall, which was b...

    By • Oct. 17, 2019
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    Fintech Takes Root in America’s Farmland

    Of all the asset classes that fintech has changed over the past decade, real estate is perhaps the most transformed. Technology’s impact on underwriting efficiency and the ability to crowdfund capital have changed the scope and scale of alternative investments that are available to investors.But ...

    By • Oct. 16, 2019
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    Trendline

    Top 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
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    The View from Inside a Midsize M&A Deal

    Considering some of the mammoth M&A transactions in recent years, a mere $1.2 billion acquisition doesn’t raise many eyebrows. But for Principal Financial Group, its purchase this year of Wells Fargo’s retirement and trust business was something of a game-changer.It was the third-largest acqu...

    By • Oct. 15, 2019
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    Intel Buys Software Business Smart Edge

    Intel agreed to buy software business Smart Edge from Pivot Technology Solutions for $27 million.Smart Edge, a software that helps split data and store it closer to users to make computing devices respond faster, was developed to run on Intel processors.The software can be used to complement 5G t...

    By • Oct. 15, 2019
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    Thoma Bravo Offers $3.9B for U.K. Cyber Firm Sophos

    U.S. private equity firm Thoma Bravo made an offer to buy Sophos, the U.K.-based maker of antivirus and encryption products, for $7.40 in cash per share, a 37% premium on the Sophos market price at the end of trading Friday, the companies said.Sophos board of directors said they plan to unanimous...

    By • Oct. 14, 2019
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    SEC Pulls Plug on Telegram Initial Coin Offering

    In what may be the highest-level U.S. enforcement action to date over an initial coin offering, the Securities and Exchange Commission has charged encrypted messaging app Telegram with illegally selling digital assets.Telegram launched its ICO last year by raising about $1.7 billion from sales of...

    By Matthew Heller • Oct. 14, 2019
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    PE Firms Face Growing Scrutiny over Valuations

    Recent attention from several quarters has cast a bright light on the private equity business. From accounting treatments to returns to political rumblings for industry overhaul, PE firms are facing scrutiny over their performance and practices.Beyond the headlines, private equity’s role across t...

    By • Oct. 11, 2019
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    SAP CEO Steps Down

    SAP said its chief executive officer, Bill McDermott, is stepping down and being replaced by board members Jennifer Morgan and Christian Klein as co-CEOs, effective immediately.In a statement, the SAP said McDermott had decided not to renew his contract and it was activating its long-term success...

    By • Oct. 11, 2019
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    CFOs On the Move: Week Ending October 11

    Jason Cardew has been promoted to lead the finance function at automotive technology company Lear, effective Nov. 1. Current finance chief Jeffrey Vanneste is retiring effective the previous day, but will serve as a consultant through February of next year. Cardew has been at the firm since 1992 ...

    By Joan Urdang • Oct. 11, 2019
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    CFTC Chairman Says Cryptocurrency Ether is a Commodity

    Cryptocurrency ether is a commodity and thus falls under the jurisdiction the Commodity Futures Trading Commission (CFTC), said the commission’s chairman Heath Tarbert at a conference in New York. Tarbert also said ether futures will begin trading in U.S. markets in the near future.“We’ve been ve...

    By • Oct. 10, 2019
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    CFO Editorial Staff
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    You’ve Landed a New CFO Job…. Now What?

    The first 60 days at a new company can make or break the tenure of an incoming CFO. Here are some tips for tackling the priorities.

    By Ramona Dzinkowski • Oct. 10, 2019
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    Evolving Finance to Support Innovation

    CFOs and finance teams play an increasing role in enterprise innovation, but the truth is that not all are set to take on the job. Why is innovation such a critical area for finance folks to be thinking about? Most companies view innovation as essential to survival. But without the right leadersh...

    By • Oct. 10, 2019
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    U.S. Steel Divulges New Cost-Cutting Plan; CFO to Retire

    U.S. Steel said it is planning an enhanced operating model and organizational structure to cut costs, and its CFO will resign.The company’s new operating model is scheduled to start in 2020. The company hopes to save $200 million of annual fixed costs by 2022.“These initiatives reduce costs and m...

    By • Oct. 9, 2019
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    Twitter Says Personal Info Shared with Advertisers

    Twitter, on Tuesday, disclosed it had allowed some users’ personal information, including email addresses and phone numbers, to be “inadvertently” used for advertising purposes through its “Tailored Access” program.The company said no personal data was shared with its third-party partners, and th...

    By • Oct. 9, 2019
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    CFOs to Watch 2019: Will They Sink or Swim?

    Several themes pop out in our fifth annual lineup of CFOs who we’ll be observing closely in the next year.First, all of the finance chiefs hail from companies that face powerful competitors and tumultuous industry changes: Walgreens Boots Alliance, Macy’s, Ford, to name three. Second, all of thei...

    By CFO Editorial Staff • Oct. 9, 2019
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    Special Report: Government Fixes for the Retirement Problem

    Companies want their older employees to afford a timely, secure retirement. That’s not simply altruism: such workers tend to be highly paid, consume more health care, and miss work more often than others, and block the upward mobility of younger high achievers who may become frustrated and leave ...

    By • Oct. 9, 2019
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    Cannabis Operator Nixes Deal, Fires CFO

    Cannabis dispensary company MedMen Enterprises announced Tuesday it has terminated the deal to acquire multi-state cannabis operator Pharmacann. The company is also terminating its chief financial officer, Michael Kramer.In a conversation with Benzinga, MedMen CEO Adam Bierman explained the compa...

    By • Oct. 8, 2019
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    Boeing to Invest $20 Million in Virgin Galactic

    Boeing’s venture arm Horizon X is investing $20 million in Virgin Galactic, the space-tourism venture founded by Richard Branson. Virgin Galactic has invested $1 billion to develop reusable spaceflight systems to create space tourism.The investment comes as Virgin Galactic prepares to list public...

    By • Oct. 8, 2019
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    Should the Chairman and CEO Roles Be Held Separately?

    The question of whether the roles of chairman and chief executive officer should be held by separate individuals has long been a source of conversations, and sometimes conflicts, in boardrooms and among shareholders.Zuckerberg: Faced ouster as chairman Only last May, Facebook CEO and co-founder M...

    By • Oct. 8, 2019
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    U.S. Supreme Court Denies Amazon Bid to Block Worker Suit

    The U.S. Supreme Court has declined to hear a petition by Amazon and a contractor, Integrity Staffing Solutions, that sought to dismiss a lawsuit from warehouse workers who were seeking pay for the time they spent in post-shift security screenings.In their 2010 lawsuit, the workers said the scree...

    By • Oct. 7, 2019
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    New York Sues Student Loan Servicer

    New York State Attorney General Letitia James has filed a lawsuit against the Pennsylvania Higher Education Assistance Agency, saying the agency has failed to properly administer the Public Service Loan Forgiveness program, which was created to encourage graduates to work in public service by off...

    By • Oct. 4, 2019
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    6 Cybersecurity Misconceptions

    It seems like every few months we hear about a major hack or data breach affecting millions of people. This summer, it was Capital One and some 100 million Americans whose personal data was harvested. Increasingly, it’s small and midsize businesses that are the target of cyberattacks, and because...

    By • Oct. 4, 2019
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    CFOs On the Move: Week Ending October 4

    Shake Shack promoted CFO Tara Comonte to the expanded role of president and CFO. Comonte joined the fast-casual food chain in 2017 and has more than 20 years of strategy, finance, technology, and operations experience in the public and private sector, spending much of her career at global media a...

    By • Oct. 4, 2019
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    Samsung, Finablr Partner on Cross-Border Payments

    Samsung and global payments platform Finablr announced they have launched an in-app international money transfer service. Under the arrangement, Samsung Pay users will be able to use the “Money Transfer” feature of the app to make cross-border payments to 47 countries, including India, Mexico, Ch...

    By • Oct. 3, 2019
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    GM Idles Mexico Plant and Lays off 6,000 Workers as Strike Continues

    General Motors idled a plant in Guanajuato, Mexico, temporarily laying off 6,000 workers, amid a strike by the United Auto Workers union that is pushing into its third week.The automaker cited a parts shortage due to the strike as the reason for the plant closure.The plant produced highly-profita...

    By • Oct. 2, 2019