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

Explore the Trendline➔

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. 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

TiVo, Xperi to Merge, Create Tech Licensing Giant

DVR pioneer TiVo has agreed to a $3 billion merger with Xperi in a move that will create one of the leading tech-licensing platforms in the entertainment industry.The all-stock deal will combine TiVo’s DVRs and other consumer products, entertainment metadata, and patent portfolio with Xperi’s ent...

By Matthew Heller • Dec. 19, 2019

Accenture Adds Clarity Insights to AI Business

In a marriage of consulting firms, Accenture is buying Clarity Insights to strengthen its artificial intelligence and data analytics capabilities.Chicago-based Clarity, which has about 350 employees, specializes in AI and big data, working primarily with healthcare and financial services clients....

By Matthew Heller • Dec. 16, 2019

U.S. Consumer Prices Hit Highest Level in a Year

U.S. consumer prices rose in November to the highest level in a year but not enough to suggest a surge in inflation.The Labor Department reported on Wednesday that its consumer price index increased 0.3% last month as households paid more for gasoline, health care, and rent. In the 12 months thro...

By Matthew Heller • Dec. 11, 2019

U.S. Labor Costs Growth Lowered to 2.5% for Q3

U.S. labor costs grew at a slower rate in the third quarter than previously reported, indicating inflation will remain low.The Commerce Department said Tuesday that unit labor costs, the price of labor per single unit of output, increased at a 2.5% annualized rate in the third quarter. It had pre...

By Matthew Heller • Dec. 10, 2019

Morgan Stanley Prepares for 2020 With Job Cuts

Morgan Stanley is ending the year by cutting about 1,500 jobs, or roughly 2% of its workforce, as it prepares for what it expects will be tougher market conditions in 2020.According to CNBC, the layoffs will skew toward technology and operations roles, the source said. Morgan Stanley had 60,532 e...

By Matthew Heller • Dec. 10, 2019

BIS Spotlights Role of Large Banks in Repo Shock

Structural issues may be more to blame than a temporary supply-and-demand imbalance for the turmoil that roiled the funding markets in September, according to the Bank for International Settlements.In a report on the lack of liquidity that caused repo rates to spike as high as 10%, the Basel-base...

By Matthew Heller • Dec. 9, 2019

U.S. Job Growth Shatters November Forecasts

The U.S. jobs market soared past economists’ expectations in November, belying recession anxieties that had been simmering amid a manufacturing slowdown and trade conflicts.The Department of Labor reported Friday that employers added 266,00 jobs last month, the largest number since January. The u...

By Matthew Heller • Dec. 6, 2019

Verint Systems to Spin off Cyber Intelligence Unit

Shares of Israeli-American analytics firm Verint Systems rose in after-hours trading Wednesday after its board approved a plan to spin off its cyber intelligence business into a separate, publicly-traded company.After the spinoff, Verint will consist only of the larger customer engagement solutio...

By Matthew Heller • Dec. 5, 2019

Postmates Closes in Mexico to Focus on U.S.

Postmates is pulling out of Mexico and laying off employees in the U.S. as it regroups after shelving its plan to go public.The food-delivery startup on Wednesday confirmed it had closed its Mexico City office and acknowledged there had been other job cuts without specifying the number. According...

By Matthew Heller • Dec. 4, 2019

U.S. Factory Activity Drops for 4th Straight Month

A closely-watched measure of U.S. factory activity contracted for a fourth straight month in November and a decline in new orders suggested the manufacturing sector’s slump is far from over.The Institute for Supply Management said its index of national factory activity dropped 0.2 point to a read...

By Matthew Heller • Dec. 3, 2019

Hostess Buys Voortman in $320M Snacks Move

Hostess Brands — best known for sugary baked treats such as Twinkies — has agreed to acquire the maker of Voortman wafers and sugar-free cookies for $320 million in a move to boost its profile in the fast-growing snacks category.According to Nielsen, Canada-based Voortman Cookies is the market le...

By Matthew Heller • Dec. 2, 2019

Online Lending Platform Refines the Science of Underwriting

For lenders, predicting whether potential borrowers are likely to pay them back is the core of their business. That fact, in conjunction with technology advancements, has paved the way over the past several years for the new field of marketplace lending.The term generally refers to companies that...

By David McCann • Dec. 2, 2019

Schwab Buys Ameritrade in Brokerage Mega-Deal

Charles Schwab has agreed to acquire longtime rival TD Ameritrade for $26 billion in a major consolidation of the discount brokerage industry amid a bruising pricing war.The all-stock transaction announced Monday would create what one analyst called a “true behemoth in the retail brokerage space,...

By Matthew Heller • Nov. 25, 2019