Analog Devices Buys Rival Chipmaker Maxim

Semiconductor maker Analog Devices said Monday it would acquire rival Maxim Integrated Products for about $21 billion in a move to add automotive and data center solutions to its portfolio.The all-stock deal would create a chipmaking giant with a combined enterprise value of $68 billion and combi...

By Matthew Heller • July 13, 2020

Muji Files Chapter 11, Plans Online Focus

The U.S. arm of Japanese home-goods retailer Muji has filed for bankruptcy after struggling to generate enough business to overcome its high rent costs.The Chapter 11 filing came 13 years after Muji opened its first U.S. store in the SoHo neighborhood of New York City. While Muji U.S.A. has expan...

By Matthew Heller • July 13, 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

IEA Raises Oil Demand Forecast for 2020

The International Energy Agency raised its forecast for world oil demand in 2020 but warned that the recent surge in COVID-19 cases could threaten the recovery from the sharp decline in the first half of the year.In its latest monthly report, the IEA said it is now projecting demand will fall by ...

By Matthew Heller • July 10, 2020

Sur La Table Files Chapter 11 With Sale Plan

High-end kitchenware retailer Sur La Table has filed for bankruptcy with a plan to close nearly half of its stores and consummate a sale to private-equity firm Fortress Investment Group.The Chapter 11 filing came two weeks after Sur La Table, which also offers cooking classes at many of its store...

By Matthew Heller • July 9, 2020

Sunrun to Buy Vivint in $3.2B Solar Mega-Deal

Sunrun has agreed to acquire Vivint Solar for $3.2 billion in a major residential solar industry consolidation aimed at creating economies of scale to lower customer acquisition costs.The all-stock merger of two of the top three residential solar companies solidifies Sunrun’s leadership of the ma...

By Matthew Heller • July 8, 2020

Nielsen to Exit Businesses, Cut 3,500 Jobs

Media ratings firm Nielsen said Tuesday it will exit several smaller, underperforming markets and non-core businesses in the second half of this year to cut costs and improve operational efficiency.Nielsen has been restructuring as it moves toward splitting into two independent, publicly-traded c...

By Matthew Heller • July 7, 2020

Uber Buys Postmates in Food Delivery Bet

Uber said Monday it had agreed to buy Postmates for $2.65 billion, making a major move to expand its ride-sharing business amid declining demand for ride-sharing.The announcement of the deal comes a month after Uber failed in its bid to buy rival GrubHub, which was instead sold to European delive...

By Matthew Heller • July 6, 2020

Largest Pizza Hut Franchisee Files Chapter 11

NPC International, the largest franchisee of Pizza Hut restaurants, filed for Chapter 11 bankruptcy on Wednesday as the decline of the Pizza Hut brand continues to eat into its profits.The company has $903 million in debt and has pre-negotiated a restructuring agreement with about 90% of its firs...

By Matthew Heller • July 1, 2020

Lululemon Sees Fitness Future in Mirror

Athletic wear retailer Lululemon is acquiring startup Mirror for $500 million in a move to capitalize on the boom in home workout solutions.Mirror sells an interactive screen — which costs nearly $1,500 before tax and installation fees, plus ongoing subscription fees of $39 per month — through wh...

By Matthew Heller • June 30, 2020

Watchdog Warns of ‘Significant’ PPP Fraud Risk

The streamlining of the approval process for Paycheck Protection Program loans to small businesses has created a “significant” risk of fraud, according to the federal government’s internal watchdog.The Government Accountability Office said in a report that the Small Business Administration requir...

By Matthew Heller • June 26, 2020

Ally Financial’s Takeover of CardWorks Called Off

Ally Financial will not be completing its $2.7 billion acquisition of CardWorks, dealing a blow to its plans to diversify beyond auto loans.The two companies said Wednesday they had agreed to terminate the merger agreement they had announced in February, citing the impact of the COVID-19 pandemic...

By Matthew Heller • June 25, 2020

D&B Seeks to Raise up to $1.38B in IPO

Dun & Bradstreet is expecting to raise up to $1.38 billion in an initial public offering that would value the business data and analytics firm at as much as $8.4 billion.D&B said Wednesday in a regulatory filing that it will offer 65.75 million shares at a price range of between $19 and $...

By Matthew Heller • June 24, 2020

Bill Ackman Files for Largest-Ever SPAC Offering

Billionaire investor Bill Ackman’s hedge fund is planning to raise $3 billion from the public in a bet on the boom in blank check mergers.The initial public offering for Pershing Square Tontine Holdings would be the largest-ever for a so-called special purpose acquisition company. Ackman’s Pershi...

By Matthew Heller • June 24, 2020

Tech Industry Blasts Trump Halt on H-1B Visas

President Donald Trump has temporarily halted the H-1B visa program, cutting off a critical source of high-skilled foreign labor for tech companies.An executive order signed by the president on Monday also restricts H-2B visas for seasonal employees, L-1 visas for corporate executives, and J-1 vi...

By Matthew Heller • June 23, 2020

ServiceNow Buys Data Management Startup

ServiceNow, a provider of digital workflow management solutions, is buying Belgian startup Sweagle to help customers keep their software up and running.Sweagle is a pioneer in IT configuration management automation, using machine learning to identify and help prevent potentially costly software c...

By Matthew Heller • June 22, 2020

New Bill Offers Second Loans to PPP Borrowers

Small business owners may get a second bite at the coronavirus relief apple under proposed legislation that would extend the Paycheck Protection Program.The Prioritized Paycheck Protection Program (P4) Act would allow businesses with fewer than 100 employees to apply for a second loan if they hav...

By Matthew Heller • June 19, 2020

Cinema Chain Merger Heads for Court Fight

U.K-based Cineworld has called off a $2.1 billion deal to acquire Canada’s Cineplex, setting the stage for a legal battle between the two giant movie theater operators.In terminating the $34-per-share deal before a June 30 deadline, Cineworld, the owner of the Regal theater chain, said it had “be...

By Matthew Heller • June 15, 2020

Amazon, Goldman to Offer SMB Credit Lines

Amazon is teaming up with Goldman Sachs in a marriage of tech and Wall Street aimed at expanding  Amazon’s lending platform for small businesses.CNBC reported that small business owners who sell items on Amazon will soon be receiving targeted invitations from Goldman’s Marcus consumer banking bra...

By Matthew Heller • June 11, 2020

Small Businesses See Recession as ‘Short-Lived’

Small business optimism over the economy rebounded in May after reeling from the coronavirus outbreak and owners believe a recession will be “short-lived,” according to a closely-watched survey.The National Federation of Independent Business said its Small Business Optimism Index increased 3.5 po...

By Matthew Heller • June 9, 2020

ECB Adds $672B to Pandemic Relief Program

The European Central Bank announced Thursday it will expand its emergency bond-buying program to provide additional stimulus to a eurozone economy battered by the coronavirus pandemic.The move will add 600 billion euros ($672 billion) to the Pandemic Emergency Purchase Programme (PEPP) that the E...

By Matthew Heller • June 4, 2020

Templar Energy Goes Bankrupt to Complete Sale

Oil and gas driller Templar Energy has filed for Chapter 11 bankruptcy to effectuate a sale of its assets amid plunging commodity prices.The company had begun the sale process in February, attracting a dozen indications of interest by mid-April. But it said Monday that it had decided to use the b...

By Matthew Heller • June 2, 2020

Libbey Files Chapter 11 Amid ‘Dramatic’ Slump

Libbey, one of the world’s largest makers of glass tableware, filed for Chapter 11 bankruptcy on Monday, citing the “unprecedented” impact of the coronavirus pandemic on demand for its products.The company had been pursuing a restructuring of its balance sheet even before the pandemic forced it t...

By Matthew Heller • June 1, 2020

Pier 1 to Liquidate After 58 Years in Business

A bankruptcy court judge has approved Pier 1 Imports’ plan to completely wind down its operations, sealing the demise of the home furnishing company after 58 years in business.As part of the plan, Pier I will begin an “orderly liquidation” of its remaining stores as soon as reasonably possible af...

By Matthew Heller • June 1, 2020

Cisco Adds ThousandEyes to Watch Internet

Cisco Systems has done another software deal, announcing it will acquire internet monitoring startup ThousandEyes as it continues to shift away from its core hardware business.The deal adds to a capability in monitoring that Cisco has been building since it acquired AppDynamics in 2017. ThousandE...

By Matthew Heller • May 29, 2020

U.S. Factory Orders Tumble 17.2% in April

Orders for U.S. durable goods plunged for a second straight month as businesses tightened capital spending amid the coronavirus pandemic.The Commerce Department reported Thursday that factory goods orders declined 17.2% month to month in April, following the 16.6% drop in March. Economists polled...

By Matthew Heller • May 28, 2020