Corporate Finance: Page 61

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    Insurance Alternative Rises

    Most insurance payouts compensate for direct losses—and only after what can be a long claims process. But finance executives should know the ins and outs of a growing market segment that is structured differently: parametric insurance. Parametric coverage pays when a certain objective triggering ...

    By • June 26, 2019
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    Will Private Equity Takeover Benefit or Hurt Acumatica?

    Cloud-native enterprise software provider Acumatica may have gotten a shot in the arm last week to boost its already fast-growing presence in the global enterprise resource planning (ERP) market.At least that’s how buyer and seller are pitching it. EQT Partners, a Swedish private equity group, ac...

    By • June 25, 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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    Health Care Software Maker Phreesia Files for $125 Million IPO

    Phreesia, a health care software company based in New York City, filed a preliminary prospectus with the Securities and Exchange Commission Friday for a $125 million initial public offering.It did not say how many shares it planned to offer or the price range.The company said proceeds would be us...

    By • June 24, 2019
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    Eldorado Resorts to Buy Caesars in $17.3B Casino Deal

    Eldorado Resorts agreed to buy Caesars Entertainment for about $8.5 billion in cash and stock, as a means to take on competition from larger companies such as Las Vegas Sands and Wynn Resorts.Eldorado will acquire all of the outstanding shares of Caesars for a total value of $12.75 per share, con...

    By • June 24, 2019
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    Sealed Air Fires CFO Amid SEC Investigation

    Sealed Air fired its chief financial officer, Bill Stiehl, for cause, effective immediately.The company said the firing was related to an internal review by the board’s audit committee in connection with a previously disclosed Securities and Exchange Commission investigation into the company’s ac...

    By • June 21, 2019
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    CFOs on the Move: Week Ending June 21

    Ellen Johnson Advertising firm Interpublic Group promoted Ellen Johnson to the top finance spot, effective January 1. She will succeed Frank Mergenthaler, who will retire on Dec. 31. Johnson is now senior vice president of finance and treasurer, as well as global CFO of IPG Mediabrands.James Jone...

    By Joan Urdang • June 21, 2019
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    Walmart FCPA Case Cites Poor Internal Controls

    For more than a decade, retailing giant Walmart failed to operate a sufficient anti-corruption compliance program and allowed subsidiaries in Brazil, China, India, and Mexico to employ third-party intermediaries who made payments to foreign government officials.As a result, the Securities and Exc...

    By • June 20, 2019
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    Tapestry Names Abercrombie & Fitch Executive New CFO

    Joanne C. Crevoiserat Tapestry, the parent company of luxury brands Coach, Kate Spade, and Stuart Weitzman, named Joanne Crevoiserat chief financial officer, effective August 1.Crevoiserat comes to Tapestry from Abercrombie & Fitch, where she was executive vice president and chief operating o...

    By • June 19, 2019
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    Blockchain Company Ripple Invests in MoneyGram

    MoneyGram is the new player on the blockchain, and will be rewarded handsomely by Ripple, a prominent cryptocurrency company.One of the world’s largest money-transfer companies announced on Monday that it has agreed to a deal with blockchain company Ripple that involves an investment of up to $50...

    By • June 19, 2019
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    The Reason the Fed May Need to Cut Interest Rates This Year

    Why is the Federal Reserve’s Open Market Committee contemplating a cut in the benchmark federal funds rate? It really isn’t because it thinks a recession is around the corner, say economists. Instead, the Fed is trying to avoid circumstances in which it is powerless to revive the U.S. economy.The...

    By • June 19, 2019
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    Facebook Unveils Libra Cryptocurrency

    Social networking giant Facebook announced plans on Tuesday to launch a digital currency in 2020, in an aggressive move to push beyond digital advertising.The currency called Libra will be overseen by a Facebook subsidiary called Calibra, which is a new nonprofit group based in Geneva.The new cry...

    By • June 18, 2019
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    The Forecast is Cloud

    With technology disrupting business functions at a frantic pace, there’s no area — including finance — where doing “business as usual” is still good enough; innovation waits for no one, and you have to keep up or risk being left behind by more nimble competitors.As such, CFOs looking to take thei...

    By • June 18, 2019
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    Sotheby’s in Deal With Drahi to Go Private

    Sotheby’s, the famed auction house, announced it has signed an agreement to be acquired by BidFair USA for $57 per share in cash, a premium of 61% to the company’s closing share price on Friday and a 56% premium to the company’s 30-day volume-weighted average share price.BidFair is wholly owned b...

    By • June 17, 2019
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    CFOs on the Move: Week Ending June 14

    Mel Tucker Specialty retailer Genesco named Mel Tucker CFO and senior vice president of finance, effective June 24. He takes over from Mimi Vaughn, who has been promoted to chief operating officer. Tucker most recently headed finance at Century 21 Department Stores.Bristol Myers Squibb has announ...

    By Joan Urdang • June 14, 2019
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    IEA Cuts Oil Demand Forecast

    The International Energy Agency (IEA) cut its forecast for global oil demand citing the of slower economic growth and concerns over a U.S.-China trade war.“The main focus I think we should be looking at here is that until very recently the geopolitical factors related to Iran and Venezuela and Li...

    By • June 14, 2019
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    PwC Fined Over Audit Failure

    The U.K. Financial Reporting Council (FRC) fined PwC $5.8 million over failures related to its audits of the 2015 and 2016 financial statements of IT services company Redcentric.The FRC also fined two PwC partners, Jaskamal Sarai and Arif Ahmad, $178,000 each over their failings related to the Re...

    By • June 13, 2019
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    CFOs Support Immigration Reform to Help with Talent Shortage

    U.S. finance chiefs are showing strong support for immigration reform as they struggle with the talent shortage in the United States, according to the latest quarterly Duke University/CFO Global Business Outlook survey.Eighty-three percent of U.S. CFOs surveyed said they supported expedited grant...

    By • June 12, 2019
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    Visa Rolls Out Cross-Border B2B Network

    Visa released its blockchain-powered business-to-business payments service, B2B Connect network, which allows financial institutions to process corporate cross-border payment transactions faster and at a low operational cost.The move is seen as part of Visa’s effort to push beyond card-based tran...

    By • June 11, 2019
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    Apollo Global to Buy Shutterfly for $2.7B

    Private equity firm Apollo Global Management agreed to acquire U.S. digital imaging company Shutterfly for $2.7 billion, including the company’s $900 million of debt.Apollo also announced on Monday that it would buy the privately held Snapfish, a small internet-based retailer of photography produ...

    By • June 11, 2019
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    Elliott to Buy Barnes & Noble

    Elliott Management announced it has reached an agreement to buy Barnes & Noble for $476 million.In a statement, the companies said Elliott agreed to pay $6.50 per share in an all-cash transaction, a 43% premium over Barnes & Noble’s 10-day weighted average closing share price before news ...

    By • June 7, 2019
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    CFOs on the Move: Week Ending June 7

    Thomas Noh Thomas Noh was named chief financial officer at Farmers Insurance Exchanges, succeeding Ron Myhan. Noh joined Farmers in 1996 and had been head of claims analytics and exchange finance strategy.TPI Composites named Bryan Schumaker to the top finance spot. He replaces William Siwek, who...

    By Joan Urdang • June 7, 2019
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    Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
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    Google to Acquire Looker Data Sciences for $2.6B Cash

    Google has announced plans to buy Looker Data Sciences as a way to expand its offerings to help customers manage data in the cloud.The acquisition announced on Thursday gives Google a new tool in its campaign to sell more cloud storage and software. Google plans to buy Looker for $2.6 billion in ...

    By • June 6, 2019
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    Joe Biden’s Climate Proposal Calls for $1.7 Trillion Investment

    Democratic presidential candidate Joe Biden announced a $1.7 trillion plan to address climate change, saying he would fund the ambitious program by rolling back the Trump administration’s tax breaks for corporations.Biden’s campaign, in a statement, said the climate and environmental justice prop...

    By • June 4, 2019
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    Infineon Technologies Buys Cypress Semiconductor in $10B Deal

    Germany’s Infineon Technologies agreed to buy Silicon-Valley-based Cypress Semiconductor for $10 billion, or $23.85 per share, in an action that will allow Europe’s largest chipmaker to expand further into next-generation autos and internet technologies.The deal to create the world’s No.8 chipmak...

    By • June 3, 2019
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    Trump Threatens Tariffs Against All Mexican Goods

    President Donald Trump said his administration would impose a tariff on all goods coming from Mexico, citing that country’s inaction on what the president called a “sustained influx of illegal aliens” into the United States.“As everyone knows, the United States of America has been invaded by hund...

    By • May 31, 2019