Banks Expect Tighter Consumer Loan Standards

U.S. banks expect to tighten lending standards this year, reflecting concerns over loan performance, particularly in the consumer sector.The Federal Reserve’s quarterly survey of senior loan officers found that significant net shares of banks expect performance to deteriorate in 2020 for both cre...

By Matthew Heller • Feb. 4, 2020

For Post-Brexit Britain, Now the Hard Work Starts

Britain could be going from the frying pan to the fire as it formally leaves the European Union on Friday after its bruising, three-and-a-half year Brexit battle.With Britain no longer being a member of the EU, it will now have to redefine its relationship with the EU — and that, according to CNN...

By Matthew Heller • Jan. 31, 2020

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Tax policy shifts: What CFOs need to know to stay ahead

Discover how evolving tax policies are creating new opportunities and challenges for CFOs.

By CFO.com staff

U.S. Economy Posts Smallest Annual Gain Since 2016

The U.S. economy delivered another quarter of modest growth, getting a boost from a temporary drop in imports as business investment continued to decline.The Commerce Department reported Thursday that gross domestic product rose at a 2.1% rate in the fourth quarter, matching the third quarter and...

By Matthew Heller • Jan. 30, 2020

Budget Deficit Forecast to Top $1 Trillion in 2020

The U.S. budget deficit will exceed the symbolic $1 trillion barrier this year, the Congressional Budget Office said, warning that the nation’s debt is growing at an “unsustainable” rate.The CBO estimated the gap between federal revenue and spending will reach $1.02 billion in 2020, approaching t...

By Matthew Heller • Jan. 29, 2020

Bar Louie Files Chapter 11 to Pursue Asset Sale

Gastropub chain Bar Louie has filed bankruptcy and closed dozens of its locations, citing declining sales as consumers shift away from casual dining.While a turnaround effort has improved the performance of most of Bar Louie’s 110 locations, 38 “have seen their sales and profits decline at an acc...

By Matthew Heller • Jan. 28, 2020

China GDP Growth Rate Slows to 6.1% in 2019

China’s economy grew at the slowest rate in 30 years in 2019 amid weak domestic demand and the trade conflict with the U.S.Gross domestic product increased 6.1%, matching analysts’ expectations but well below the 6.6% gain in 2018. Growth last year was the slowest since 1990.For the fourth quarte...

By Matthew Heller • Jan. 21, 2020

Microsoft Unveils Plan to Go ‘Carbon Negative’

Microsoft has launched what it called a “moonshot” climate initiative, pledging to remove more carbon from the atmosphere than it emits by 2030.The company has been carbon neutral since 2012, canceling out its emissions by purchasing renewable energy and carbon offsets. But on Thursday, it commit...

By Matthew Heller • Jan. 17, 2020

Visa Makes Fintech Move With $5.3B Plaid Buy

Visa has agreed to acquire fintech startup Plaid for $5.3 billion in a move to accelerate its push into connecting consumers to financial services.Plaid provides API software that enables customers including peer-to-peer payment app Venmo, mobile investing app Robinhood, and cryptocurrency exchan...

By Matthew Heller • Jan. 14, 2020

Global Debt-to-GDP Hits Record 322% in Q3

The global debt-to-GDP ratio hit a new all-time high in the third quarter of 2019, raising concerns about the financing of infrastructure projects.The Institute of International Finance reported Monday that debt-to-GDP rose to 322%, with total debt reaching close to $253 trillion and total debt a...

By Matthew Heller • Jan. 13, 2020

U.S. Job Growth Slows Unexpectedly to 145,000

U.S. payroll and wage growth missed expectations in December, rounding off what one economist called a “year of consolidation” amid a tight labor market.The Labor Department reported Friday that employers added 145,000 jobs last month, well below November’s 256,000 gain. The unemployment rate hel...

By Matthew Heller • Jan. 10, 2020

World Bank Cuts 2020 Growth Forecast to 2.5%

The World Bank has lowered its global economic growth forecast again, citing downside risks including a re-escalation of global trade tensions, conflict in the Middle East, and debt levels in emerging economies.In its latest half-yearly Global Economic Prospects report, the bank predicted growth ...

By Matthew Heller • Jan. 9, 2020

Acquirers Again Underperformed the Broader Market in 2019

Companies that acquired other companies underperformed the broad market in 2019 for a third consecutive year, according to an analysis by Willis Towers Watson and the University of London’s Cass Business School.Acquirers’ share-price performance trailed that of the MSCI World Index by 5.0 percent...

By David McCann • Jan. 9, 2020

Impossible Foods Pulls Plug on McDonald’s Deal

Impossible Foods won’t be helping McDonald’s with its move into meatless burgers, possibly opening the door for rival Beyond Meat to become the supplier of plant-based patties to the Golden Arches.By adding the No. 1 burger chain as a customer, Impossible Foods would have jumped well ahead of Bey...

By Matthew Heller • Jan. 8, 2020

4 Startups to Keep an Eye On in 2020

Today there are dozens of services, products, and industries that could be upended by an up-and-coming competitor at a moment’s notice. That reality represents an opportunity for such a company, its early customers, and investors alike. But not everyone is taking full advantage.I’ve been an angel...

By David McCann • Jan. 7, 2020

Manufacturing Slump Reaches 5th Straight Month

The contraction in U.S. manufacturing activity continued in December but the easing of U.S.-China trade tensions may benefit some industries this year, according to the Institute for Supply Management.The ISM reported Friday that its manufacturing index fell last month to 47.2. — the lowest level...

By Matthew Heller • Jan. 3, 2020

U.S. New Vehicle Sales Hit Record $462B in 2019

Americans bought slightly fewer new vehicles in 2019 but spending on new autos passed $460 billion for the first time, driven by rising transaction prices.Research firm J.D. Power/LMC Automotive said it expected total 2019 sales to decline 1.4% to 17.2 million vehicles compared with the previous ...

By Matthew Heller • Jan. 3, 2020

Ant Financial Makes Move on Singapore Market

Ant Financial has applied for a digital banking license as the Chinese electronic payments company continues its push into overseas markets.Ant cited its “commitment to promoting financial inclusion globally” in confirming that it had submitted an application to the Monetary Authority of Singapor...

By Matthew Heller • Jan. 2, 2020

Tesla Delivers First ‘Made in China’ Vehicles

Less than a year after Tesla began construction of its Shanghai factory, the automaker delivered its first “Made in China” vehicles on Monday.Tesla employees were the first customers for the Chinese-made Model 3s, with company Vice President Tao Lin proclaiming at the delivery ceremony, “From now...

By Matthew Heller • Dec. 30, 2019

U.S. Weekly Jobless Claims Fall to 222,000

U.S. jobless claims fell for a second straight week, rebounding from a big surge earlier in December as the labor market continues to show strength.The Labor Department said initial jobless claims fell by 13,000 to a seasonally adjusted 222,000 in the week ended Dec. 21, following a revised 17,00...

By Matthew Heller • Dec. 27, 2019

E-Commerce Posts 18.8% Holiday Season Gain

E-commerce sales posted another big gain this holiday shopping season as overall retail sales grew at a slower rate than a year ago.According to Mastercard, online sales rose 18.8% year-over-year from Nov. 1 through Christmas Eve, topping last year’s 18.4% growth rate even though Thanksgiving cam...

By Matthew Heller • Dec. 26, 2019

Tesla Hits $420 to Complete Wall Street ‘U-Turn’

Tesla CEO Elon Musk achieved a measure of vindication on Monday as the automaker’s shares topped $420 for the first time — more than a year after he was fined for tweeting about taking it private at that price.The stock’s new all-time high represents what The Wall Street Journal called a “U-turn ...

By Matthew Heller • Dec. 25, 2019

DraftKings to Go Public Through Blank Check Deal

DraftKings said Monday it will go public through a three-way “blank check” merger as it seeks to capitalize on the spread of online sports betting into new markets.As part of the blank check deal, DraftKings will merge with Diamond Eagle Acquisition, a special purpose acquisition vehicle that is ...

By Matthew Heller • Dec. 23, 2019

Consumer Spending Rises 0.4% in November

U.S. consumer spending grew at the fastest rate in four months in November, setting the stage for a strong Christmas season amid a rise in income and optimism over the economy.The Commerce Department reported Friday that personal-consumption expenditures, or household spending, increased 0.4% las...

By Matthew Heller • Dec. 20, 2019

Private Capital Aimed at Distressed Businesses in 2020

With a majority of venture capital and private equity firms expecting a recession to hit within two years, a massive volume of “dry powder” may be targeted at distressed businesses in 2020.In a survey of 100 VC fund managers and 100 PE fund managers by BDO, 40% and 39% of them, respectively, said...

By David McCann • Dec. 20, 2019

Buy, Build, Spin: How IAC Supercharges Shareholder Value

If a company has a lot of capital and the patience to make long-term investments, good things can happen.Good things have happened for shareholders of IAC/InterActive — and the many companies it has acquired, built up, and then sold or spun off as new public companies — since Barry Diller founded...

By David McCann • Dec. 19, 2019