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

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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

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

Tipalti Buys Approve.com to Boost AP Automation

Accounts payable automation company Tipalti has acquired Approve.com to add procurement solutions to its portfolio.The Approve cloud platform helps businesses streamline purchasing workflows and vendor interactions. It handles requisitions, approvals, budgets, vendor onboarding, and spending cont...

By Matthew Heller • April 13, 2021

U.S. Budget Gap Jumps to $660B in March

The U.S. budget deficit jumped to a new record for March as the government sent out more than $330 billion in coronavirus relief payments to Americans.The Treasury Department reported Monday that the deficit was $660 billion last month, 454% wider than March 2020, as revenue rose 13% to $268 bill...

By Matthew Heller • April 13, 2021

Microsoft Buys Nuance in $16B Health Care Cloud Bet

Microsoft said Monday it had agreed to acquire speech technology pioneer Nuance Communications for $16 billion in a major move to expand its cloud offerings to the health care industry.The acquisition is Microsoft’s second-largest under CEO Satya Nadella after the $26 billion purchase of LinkedIn...

By Matthew Heller • April 12, 2021

U.S. Adds Chinese Tech Firms to Export Blacklist

The Biden administration has added seven Chinese tech firms to an export blacklist, accusing them of building supercomputers for China’s military.The addition of the companies to the Commerce Department’s Entity List means U.S. firms cannot export technology to them without a license. According t...

By Matthew Heller • April 9, 2021

Pickup in CFO Optimism Continues in Q1

CFOs are feeling increasingly optimistic about their firms and the U.S. economy though they don’t expect the Biden administration’s American Rescue Plan to have much effect on their business, according to The CFO Survey.The report, a collaboration of Duke University’s Fuqua School of Business and...

By Matthew Heller • April 7, 2021

Jobs Market Continues Surge With 916,000 Gain

U.S. employers added the most jobs in seven months in March as the labor market’s recovery from the coronavirus pandemic picked up momentum amid government relief checks and the accelerating vaccine rollout.The Labor Department reported that nonfarm payrolls increased by 916,000 last month, blowi...

By Matthew Heller • April 5, 2021

CFOs See Silver Linings to Coronavirus Crisis

The coronavirus pandemic has spurred unexpected improvements at U.S. companies and pushed CFOs to reprioritize technology investment, according to a Grant Thornton survey.The accounting firm reported that more than 60% of CFOs cited improved flexible and remote work environments as an upside of t...

By Matthew Heller • March 31, 2021

USPS Chief DeJoy Delivers 10-Year Austerity Plan

Postmaster General Louis DeJoy unveiled a sweeping austerity plan for the U.S. Postal Service on Tuesday that he said would focus the loss-ridden agency on its growing package business.DeJoy’s proposals include the largest rollback of consumer mail services in a generation, with longer first-clas...

By Matthew Heller • March 23, 2021

Fed Holds Line on Rates Despite Rising Prices

The U.S. Federal Reserve indicated Wednesday that it is not planning to raise ultralow interest rates any time soon, betting that any surge in inflation will be temporary as the economy rebounds from the coronavirus pandemic.After a two-day meeting, the Fed’s policymaking committee said it “expec...

By Matthew Heller • March 17, 2021

GE Sheds Jet-Leasing Unit in $30 Billion Deal

General Electric has agreed to combine its aircraft-leasing unit with Ireland’s AerCap in a $30 billion deal that will take it a major step further toward shedding all but its core industrial businesses.GE Capital Aviation Services, or Gecas, is the largest remaining piece of GE Capital, accounti...

By Matthew Heller • March 11, 2021

U.S. Consumer Prices Increase 0.4% in February

U.S. consumer prices rose at the fastest pace in six months in February, reflecting the rebound in the economy amid declining COVID-19 infections and the accelerating rollout of vaccines.The Labor Department reported Wednesday that the consumer price index increased 0.4% last month after rising 0...

By Matthew Heller • March 10, 2021

Greensill Capital Files for Insolvency

Greensill Capital has filed for insolvency protection in Britain after funds that had invested billions of dollars in the financial startup’s securities withdrew their support.Greensill securitized the “supply chain” cash-advance loans it made to its clients, with funds managed by Credit Suisse a...

By Matthew Heller • March 9, 2021

Stimulus Checks, Vaccines Fuel Executive Optimism

U.S. business executives are continuing to become more optimistic about the economy amid government stimulus spending and an improved COVID-19 vaccine rollout though inflation concerns are growing.In its Economic Outlook Survey for the first quarter, the Association of International Certified Pro...

By Matthew Heller • March 4, 2021

U.S. Manufacturing Hits 3-Year High in February

A closely watched measure of U.S. manufacturing jumped to a three-year high in February but supply chain disruptions due to the COVID-19 pandemic are still constraining production growth.The Institute for Supply Management said Monday its Purchasing Managers’ Index rose to 60.8 last month from 58...

By Matthew Heller • March 1, 2021

Consumer Spending Rebounds With 2.4% Gain

Consumer spending rebounded strongly in January after two straight monthly declines, getting a boost from pandemic relief checks that shored up the economy.The Commerce Department reported Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 2.4...

By Matthew Heller • Feb. 26, 2021

U.S. Household Debt Hits Record $1.4 Trillion

U.S. households set a new record for debt in the fourth quarter as the surge in mortgage borrowing offset declining credit-card balances.The New York Federal Reserve reported Wednesday that total household debt rose by $206 billion, or 1.4%, to $14.56 trillion in the fourth quarter. The total deb...

By Matthew Heller • Feb. 17, 2021

Electronic Arts Goes Mobile With $2.4B Glu Buy

Video game powerhouse Electronic Arts has agreed to buy Glu Mobile for $2.4 billion in a major move to beef up its mobile gaming offerings amid the pandemic-fueled boom in virtual entertainment.According to EA, the combination of the two companies will create a mobile product portfolio that “incl...

By Matthew Heller • Feb. 9, 2021

U.S. Factory Orders Climb 1.1% in December

New orders for U.S.-made goods rose for an eighth straight month in December as the manufacturing sector took solid momentum into the new year.The Commerce Department reported Thursday that orders for manufactured goods rose 1.1% in December after a 1.3% gain in the prior month. Economists polled...

By Matthew Heller • Feb. 5, 2021

Labor Cost Index Rises 0.7% in Fourth Quarter

A closely watched gauge of U.S. labor costs rose more than expected in the fourth quarter but year-on-year growth remains below pre-pandemic levels.The Labor Department reported that the employment cost index (ECI) increased 0.7% in the last three months of 2020 after gaining 0.5% in the third qu...

By Matthew Heller • Feb. 1, 2021

MassMutual to Buy American Financial Annuity Unit

Massachusetts Mutual Life Insurance said Wednesday it had agreed to acquire American Financial Group’s annuity business for $3.5 billion in a move to expand its product offerings.The announcement of MassMutual’s acquisition of Great American Life Insurance came a day after Allstate said it would ...

By Matthew Heller • Jan. 28, 2021

U.S. Economic Growth Slows to 4% in Q4

The U.S. economy finished its worst year since at least the end of World War II with lower-than-expected growth though economists are still hopeful of a faster recovery in the second half of 2021.The Commerce Department reported Thursday that gross domestic product grew at a 4% annualized pace in...

By Matthew Heller • Jan. 28, 2021

Godiva to Exit All North America Stores

Luxury chocolate maker Godiva is closing or selling all 128 of its retail locations in North America amid declining in-store visits due to the coronavirus pandemic.Over the past year, the Turkish-owned company said, demand for the in-person chocolate shopping experience offered through its brick-...

By Matthew Heller • Jan. 25, 2021