U.S. Housing Starts Decline 7% in July

Construction of U.S. homes fell more than expected in July as the housing market continued to struggle with high supply costs and home prices.The Commerce Department reported Wednesday that housing starts dropped 7% to a seasonally adjusted annual rate of 1.534 million units last month. Economist...

By Matthew Heller • Aug. 18, 2021

China Retail Sales Increase Only 8.5% in July

Retail sales in China grew far less than expected last month in another indication that the country’s economic recovery from the pandemic is slowing.The National Bureau of Statistics (NBS) said retail sales increased 8.5% in July from a year ago, much lower than the forecast 11.5% rise and June’s...

By Matthew Heller • Aug. 16, 2021

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

Census Shows Historic Decline in White Population

The first detailed data from the 2020 U.S. census showed the second-slowest population growth on record, with the total number of white people declining for the first time in history.The fall in the white population came as the Hispanic and Asian populations boomed, increasing by around a third a...

By Matthew Heller • Aug. 13, 2021

Adidas Sells Reebok to Authentic Brands

Adidas has agreed to sell Reebok to Authentic Brands Group for up to $2.5 billion after spending more than a decade trying to turn around the sneaker and sportswear brand.Adidas had announced in December it was exploring a possible sale of Reebok, which it acquired for $3.8 billion in 2006 to bul...

By Matthew Heller • Aug. 12, 2021

Small Business Optimism Declines in July

Small business optimism over the U.S. economy declined in July, reflecting concerns over labor shortages and supply-chain disruptions, according to a closely-watched survey.The National Federation of Independent Business said its Small Business Optimism Index fell 2.8 points last month to 99.7, r...

By Matthew Heller • Aug. 10, 2021

CBO Says Infrastructure Bill Would Add to Deficit

The Congressional Budget Office has cast doubt on the claim of supporters of the $1 trillion infrastructure bill that the measure would pay for itself.In an analysis released on Thursday, the CBO estimated that over the next 10 years, the bill would decrease direct spending by $110 billion, incre...

By Matthew Heller • Aug. 9, 2021

Moody’s to Buy Risk Modeling Firm RMS for $2B

Moody’s has agreed to acquire the RMS analytics unit of the publisher of the Daily Mail for about $2 billion in a move to add disaster and climate-change risk modeling to its solutions for the insurance industry.RMS, which stands for Risk Management Solutions, is a pioneer of the catastrophic ris...

By Matthew Heller • Aug. 5, 2021

Services Industry Index Hits All-Time High

The Institute for Supply Management’s measure of U.S. services industry activity hit a record high in July as the strong recovery in consumer demand boosted companies that took a major blow from the pandemic.The ISM’s non-manufacturing index rose to 64.1 last month from 60.1 in June, beating the ...

By Matthew Heller • Aug. 4, 2021

Workiva Buys OneCloud to Add Functionality

Workiva has acquired OneCloud in a move to expand the functionality of its reporting compliance platform.The acquisition comes two years ago after Workiva began working with OneCloud as an original equipment manufacturer (OEM) partner, gaining access to a pioneering integration platform as a serv...

By Matthew Heller • Aug. 3, 2021

Square to Buy Installment Lender Afterpay for $29B

Payments firm Square has agreed to buy Australia’s Afterpay in a $29 billion deal that reflects the boom in “buy now, pay later” lending to consumers.Afterpay, which was founded in 2014, pioneered BNPL services in Australia, charging merchants a fee to offer small point-of-sale loans that shopper...

By Matthew Heller • Aug. 2, 2021

U.S. Economy Surges Back to Pre-Virus Levels

The U.S. economy grew in the second quarter at one of the fastest rates in decades but shortages of workers and supplies of crucial products could slow growth for the rest of the year.The Commerce Department reported Thursday that the nation’s gross domestic product expanded at an annual rate of ...

By Matthew Heller • July 29, 2021

IMF Says Price Pressures Could Be ‘More Persistent’

The International Monetary Fund has warned that the transitory inflation pressures resulting from the COVID-19 pandemic could become “more persistent,” forcing central banks to take “preemptive action.”Echoing the U.S. Federal Reserve, the IMF said in its latest World Economic Outlook that the re...

By Matthew Heller • July 28, 2021

U.S. Factory Orders Climb 0.8% in June

New orders for U.S.-made goods increased in June, signaling that confidence in the economy remains strong despite supply chain issues.The Commerce Department reported Tuesday that orders for manufactured goods rose 0.8% to $257.6 billion in June following a 3.2% gain in February. Demand for durab...

By Matthew Heller • July 27, 2021

Bill.Com Buys Invoice2go to Boost AR Offerings

Payment automation software provider Bill.com has agreed to buy Invoice2go for about $625 million to enhance its accounts receivable offerings.Invoice2go allows business owners to send and track invoices through a mobile app or desktop dashboard while Bill.com supports a range of back-office oper...

By Matthew Heller • July 26, 2021

ECB Keeps Interest Rates Unchanged in Eurozone

With the latest wave of the COVID-19 pandemic pushing its inflation target further into the distance, the European Central Bank has pledged to keep interest rates at record lows.After a meeting of its 25-member Governing Council, the ECB said interest rates will remain unchanged in the 19 eurozon...

By Matthew Heller • July 23, 2021

Uber Freight Bulks up With $2B Transplace Buy

Uber has agreed to buy logistics planner Transplace for about $2.25 billion in a move to create one of the biggest platforms for arranging and tracking the shipment of goods.Freight accounted for just $302 million in gross bookings of Uber’s overall revenue of $19.5 billion in the quarter ended M...

By Matthew Heller • July 22, 2021

Retail Sales Rebound in June With 0.6% Gain

U.S. retail sales increased unexpectedly in June as the lifting of pandemic-related restrictions encouraged Americans to spend heavily at bars and restaurants.The Commerce Department reported that retail sales rose 0.6% last month after declining 1.7% in May. Economists had expected a 0.4% drop i...

By Matthew Heller • July 19, 2021

Zoom Buys Contact Center Firm Five9 for $14B

Zoom Video Communications has agreed to acquire cloud-based software firm Five9 for $14.7 billion in its biggest move yet to expand its offerings after experiencing meteoric growth during the pandemic.Five9’s customer-service platform will provide Zoom with an entrée into the $24 billion contact ...

By Matthew Heller • July 19, 2021

Industrial Production Hit By Chip Supply Crunch

U.S. industrial production rose less than expected in June as supply shortages, particularly of computer chips for autos, continued to constrain manufacturing output.The Federal Reserve reported that industrial production increased 0.4% last month after a 0.7% gain in May. Economists had expected...

By Matthew Heller • July 16, 2021

Labor Shortages Weighed on CFOs in Q2

CFOs continue to be optimistic about the U.S. economy despite concerns over labor availability and rising costs, according to The CFO Survey.The report, a collaboration of Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta (formerly known as the Duke/...

By Matthew Heller • July 16, 2021

SEC Alleges Fraud in Space SPAC Merger

In one of the first major enforcement actions of its kind, several parties involved in the planned merger of a SPAC and space exploration company Momentus have agreed to pay $8 million to settle allegations that they misled investors in statements promoting the deal.According to the U.S. Securiti...

By Matthew Heller • July 15, 2021

U.S. Consumer Prices Increase 5.4% in June

U.S. inflation rose at the fastest rate in 13 years in June, adding fuel to the debate over whether the surge in prices this year is only temporary.The Labor Department reported Tuesday that the consumer price index increased 5.4% from a year earlier, the largest jump since August 2008. Economist...

By Matthew Heller • July 13, 2021

Fed Says Economy Not at Risk From Inflation Surge

The U.S. Federal Reserve has told Congress it isn’t planning to change its zero interest rate policy despite the recent surge in inflation.As measured by the price index for personal consumption expenditures, inflation has jumped from 1.2% in December 2020 to 3.9% in May, well above the Fed’s inf...

By Matthew Heller • July 12, 2021

Crypto Startup Circle to Go Public Through SPAC

Payments and digital currency startup Circle has announced it will go public through a merger with a SPAC, giving investors another opportunity to invest in the crypto space.Circle will merge with Concord Acquisition Corp., which is backed by former Barclays boss Bob Diamond, with the combined en...

By Matthew Heller • July 9, 2021

EU Regulator Clears Aon Merger With Willis

The European Commission has conditionally approved insurance broker Aon’s proposed $30 billion acquisition of Willis Towers Watson, citing Aon’s agreement to sell assets to address antitrust concerns.According to Insurance Journal, the EU’s move lifts “a major roadblock” to the deal, which would ...

By Matthew Heller • July 9, 2021