10-Year Treasury Yield Drops to Five-Month Low

The 10-year U.S. Treasury yield fell to the lowest level since February on Wednesday, continuing a slide that appears to reflect investor uncertainty over the pace of the economic recovery.The yield on the benchmark Treasury note fell 5 basis points to 1.318% at 4:00 p.m., while the yield on the ...

By Matthew Heller • July 8, 2021

Oil Prices Hit 6-Year High Amid OPEC Discord

Oil prices retreated Tuesday after hitting their highest level in six years amid concern over the lack of an OPEC agreement on increasing production.Futures for West Texas Intermediate crude, the U.S. oil benchmark, for August initially traded as high as $76.98 per barrel Tuesday, a price not see...

By Matthew Heller • July 7, 2021

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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. Home Prices Rise at Record 14.6% Rate

U.S. home prices rose at the highest rate in more than 30 years in April as buyer demand continued to outstrip supply.Average national home prices increased 14.6% year over year in April, up from a 13.3% annual pace the prior month, according to the S&P CoreLogic Case-Shiller National Home Pr...

By Matthew Heller • June 29, 2021

Visa Buys Tink in $2.1B Open Banking Play

Visa said Thursday it had agreed to buy Swedish fintech startup Tink for $2.1 billion in a move to grab a chunk of Europe’s fast-growing open banking market.Under European law, banks must provide third-party firms with access to customer data if the customers have consented. This has created an o...

By Matthew Heller • June 24, 2021

Equipment Finance Borrowings Jump 20% in May

New business volume for equipment finance companies rose 20% in May though supply chain shortages continued to slow the recovery in capital spending.The Equipment Leasing and Finance Association said the 25 companies it surveys for its Monthly Leasing and Finance Index signed up for $8.1 billion ...

By Matthew Heller • June 23, 2021

Fed Officials See Inflation Surge Lasting Longer

U.S. Federal Reserve officials now believe the “temporary” surge in inflation may last longer than they originally expected as prices rise in the wake of the reopening of the economy.Headline price inflation was up 5% year over year in May and the Dow Jones estimate for a 3.4% gain in the Fed’s p...

By Matthew Heller • June 23, 2021

U.S. Home Sales Slide Again Amid Low Supply

The slide in U.S. home sales continued for a fourth straight month in May amid a supply crunch that has fueled record-high prices.The National Association of Realtors reported Tuesday that existing home sales fell 0.9% last month from April to a seasonally adjusted annualized rate of 5.8 million ...

By Matthew Heller • June 22, 2021

Small Business Hiring Continues to Lag in May

A record number of small business owners reported unfilled job openings in May, reflecting the lingering impact of the COVID-19 pandemic’s disruption to the labor market.According to the National Federation of Independent Business, 48% of small business owners said they could not fill job opening...

By Matthew Heller • June 4, 2021

Fed to Unwind Emergency Corporate Bond Program

The Federal Reserve has announced it will begin winding down the first-of-its-kind program created to support the corporate bond market during the COVID-19 pandemic.The Secondary Market Corporate Credit Facility, the Fed’s first foray into corporate debt, was part of a suite of programs establish...

By Matthew Heller • June 3, 2021

Executive Optimism Hits Three-Year High

Business executives’ optimism about the U.S. economy has reached its highest level in three years, fueled by government relief funds, vaccine rollouts, and relaxed workplace restrictions.In its Economic Outlook Survey for the second quarter, the Association of International Certified Professional...

By Matthew Heller • June 3, 2021

Cloudera to Go Private in $5.3 Billion Deal

Cloudera has agreed to be acquired by KKR and Clayton, Dubilier & Rice for $5.3 billion in a bet that private equity investment will boost its turnaround efforts in the competitive data management software space.The acquisition announced on Tuesday will take Cloudera private after four years ...

By Matthew Heller • June 2, 2021

Acorns to Go Public Through $2B SPAC Deal

Fintech firms continue to take the SPAC route to going public, with Acorns announcing a deal on Thursday that values the savings and investing app at about $2.2 billion.The SPAC boom has shown signs of cooling amid heightened regulatory scrutiny. In April, only 10 new issuances came to market ver...

By Matthew Heller • May 27, 2021

Amazon Bets on Bond With $8.45B MGM Buy

In a major move to expand its entertainment empire, Amazon has agreed to acquire MGM, the iconic Hollywood studio that owns half of the James Bond franchise, for $8.45 billion.The acquisition is Amazon’s largest after its purchase of Whole Foods for $13.4 billion in 2017. According to The New Yor...

By Matthew Heller • May 26, 2021

Bank Profits Rise 29% to $76.8B in 1st Quarter

U.S. bank profits rose 29.1% in the first quarter as the improving economy helped push credit loss provisions downward.The Federal Deposit Insurance Corporation reported Wednesday that aggregate net income for insured institutions increased to $76.8 billion in the first three months of 2021, up $...

By Matthew Heller • May 26, 2021

Commerce Secretary Pushes Funding for Chip Factories

The Biden administration is mobilizing behind bipartisan legislation to pump $52 billion into the U.S. semiconductor industry over five years amid a global chip shortage.Commerce Secretary Gina Raimondo said Monday that she anticipated the funding would generate “$150 billion-plus” in investment ...

By Matthew Heller • May 25, 2021

IEA Calls for Halt to Fossil Fuel Investment

The International Energy Association has recommended an immediate halt to new oil, gas and coal projects as part of a “road map” for achieving carbon neutrality by 2050.The 2015 Paris Agreement on climate change projected that global warming could be limited to 1.5 degrees Celsius above preindust...

By Matthew Heller • May 18, 2021

Judge Slams NRA for ‘Bad Faith’ Chapter 11 Filing

In what could be a pivotal setback for the National Rifle Association, a judge has ruled that it filed bankruptcy to gain an unfair advantage in a legal battle with the New York attorney general.The NRA had claimed its Chapter 11 petition, which it filed in Dallas bankruptcy court in January, wou...

By Matthew Heller • May 13, 2021

U.S. Consumer Prices Surge 4.2% in April

U.S. consumer prices rose at the fastest rate in nearly 12 years in April but the surge may not be enough to persuade the Federal Reserve to raise interest rates sooner than expected.The Labor Department reported Wednesday that the Consumer Price Index jumped 4.2% from a year earlier and 0.8% fro...

By Matthew Heller • May 12, 2021

Bill.Com Adds Divvy to Back-Office Solutions

Fintech firm Bill.com has agreed to acquire Divvy for about $2.5 billion in a move to add spend management and corporate cards to its back-office solutions.Bill.com’s cloud software helps small and midsize businesses automate billing and invoicing, while Divvy combines expense management software...

By Matthew Heller • May 7, 2021

Verizon Sells Yahoo, AOL to Apollo for $5B

Verizon Communications said Monday it had agreed to sell Yahoo and AOL to private equity firm Apollo Global Management in a $5 billion deal, signaling the end of its troubled venture into online media.The deal represents a loss for Verizon, which paid $4.4 billion for AOL in 2015 and then spent a...

By Matthew Heller • May 3, 2021

U.S. Economy Shakes off Virus, Surges 6.4%

The first quarter delivered strong economic growth in the U.S., setting the stage for what could be a “boom year” as the recovery from the coronavirus pandemic drives consumer spending.The Commerce Department reported Thursday that gross domestic product grew 6.4% for the first three months of th...

By Matthew Heller • April 29, 2021

Thoma Bravo to Buy Proofpoint for $12.3B

In the largest-ever private equity investment in cloud software, Thoma Bravo has agreed to acquire Proofpoint for $12.3 billion to boost its cybersecurity profile.The announcement of the deal on Monday came four days after Thoma Bravo closed its previous top cloud acquisition — the $10.2 billion ...

By Matthew Heller • April 27, 2021

U.S. Factory Orders Climb 0.5% in March

New orders for U.S.-made goods increased in March as the manufacturing sector continued to recover from the coronavirus pandemic after a dip in durable goods orders the previous month.The Commerce Department reported Monday that orders for manufactured goods rose 0.5% to $256.3 billion in March f...

By Matthew Heller • April 26, 2021

Equipment Finance Borrowings Jump 4% in March

New business volume for equipment finance companies rose 4% in March as companies increased capital spending amid the recovery from the coronavirus crisis.The Equipment Leasing and Finance Association said the 25 companies it surveys for its Monthly Leasing and Finance Index signed up for $9.3 bi...

By Matthew Heller • April 23, 2021

Business Inventories Increase 0.5% in February

U.S. business inventories rose again in February, an indicator of economic growth as companies restock after pandemic shutdowns.The Commerce Department estimated manufacturers’ and trade inventories at an end-of-month level of $2,010.8 billion, up 0.5% from January but down 0.7% year over year.Fe...

By Matthew Heller • April 15, 2021