EU Suggests U.S. Products for Tariff Retaliation

The European Union on Friday released a list of U.S. exports ranging from rice to playing cards that could be subject to retaliation for President Trump’s proposed tariffs on steel and aluminum imports to the U.S.The EU’s move potentially heightens the stakes if Trump refuses to exempt the bloc f...

By Matthew Heller • March 16, 2018

U.S. Consumer Prices Rise 0.2% in February

U.S. consumer prices rose only marginally last month, possibly easing concerns that inflation might be accelerating after a surge in January.The Labor Department said the consumer price index gained 0.2% in February, reflecting in part a 0.9% drop in gasoline prices and a 0.5% drop in the cost of...

By Matthew Heller • March 14, 2018

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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. Budget Deficit Grows to $215 Billion

The U.S. budget deficit widened to its highest level in six years in February as withholding taxes fell, an early indication of the effects of the Trump administration’s tax cuts.The Treasury Department reported that the U.S. government had a $215 billion budget shortfall last month, compared to ...

By Matthew Heller • March 12, 2018

U.S. Employers Add 313,000 Jobs in February

The U.S. economy powered its way in February to the biggest gain in jobs since July 2016 but what had appeared to be a long-overdue surge in wage growth lost some momentum.The Labor Department reported Friday that non-farm payrolls jumped by 313,000 jobs last month, boosted by the largest rise in...

By Matthew Heller • March 9, 2018

U.S. Trade Gap Climbs 5% in January to $56.6B

The U.S. trade deficit rose in January to its highest level in nine years, delivering another jolt to President Trump’s campaign promise to reduce the gap.The Commerce Department reported Wednesday that the trade deficit in goods and services expanded 5.0% from the prior month to a seasonally adj...

By Matthew Heller • March 8, 2018

Rent-A-Center Cuts 250 Jobs, Confirms Offers

Rent-A-Center said Wednesday it had laid off about 25% of its corporate workforce in Plano, Texas, and that it has received offers from bidders interested in acquiring the struggling furniture and equipment rental firm.The layoffs, which were effective immediately, reduced Rent-A-Center’s headcou...

By Matthew Heller • March 7, 2018

Trump’s Steel Tariff Plan Fuels Trade War Fears

President Donald Trump is planning to impose hefty tariffs on imported steel and aluminum, saying U.S. producers needed protection from countries like China but sparking fears of a trade war.Trump’s announcement Thursday was, as BBC News reports, a victory for the steel industry. He said duties o...

By Matthew Heller • March 2, 2018

Core Inflation Measure Jumps 0.3% in January

A gauge of underlying U.S. inflation posted its largest gain in 12 months in January, while consumer spending growth slowed after a robust fourth quarter.The Commerce Department reported Thursday that the personal consumption expenditures price index rose 0.4% in January, following a 0.1% gain in...

By Matthew Heller • March 1, 2018

U.S. Core Capital Goods Orders Drop 0.2%

In another indication that the U.S. economy lost some momentum at the start of the year, a closely-watched proxy for business spending plans fell for a second straight month in January.The Commerce Department reported Tuesday that orders for non-defense capital goods excluding aircraft dropped 0....

By Matthew Heller • Feb. 27, 2018

GE Keeping Faith in Baker Hughes Merger

The pressure on Baker Hughes shares appears to have lifted after General Electric said it would not shed its majority stake in the oilfield services company before the expiration of a two-year lockup period in 2019.Baker Hughes’ future had been clouded by GE chief executive John Flannery’s announ...

By Matthew Heller • Feb. 23, 2018

Priceline Changes Name to Booking Holdings

Online travel pioneer Priceline Group has changed its name to Booking Holdings Inc. to reflect the evolution of its business since it acquired Booking.com, now its largest brand, in 2005.The group has expanded from namesake Priceline.com, the reservations website for hotels, flights, and rental c...

By Matthew Heller • Feb. 22, 2018

Chinese Group Blocked in Bid for Chicago Stock Exchange

The U.S. Securities and Exchange Commission has blocked the proposed sale of the Chicago Stock Exchange to a Chinese-led investor group, citing a lack of transparency about the source of funds for the deal and the ownership structure.The would-be buyers needed the SEC to approve a rule change tha...

By Matthew Heller • Feb. 19, 2018

U.S. Consumer Prices Jump 0.5% in January

The long stretch of weak U.S. inflation may be coming to an end as consumer prices jumped 0.5% in January, adding to equity investors’ jitters.The rise in the consumer price index topped economists’ expectations of a 0.3% gain, and, excluding volatile food and energy prices, the CPI was up 0.3% a...

By Matthew Heller • Feb. 14, 2018

U.S. Household Debt Reaches Record $13.15T

U.S. household debt rose in the final three months of 2017 to an all-time high, with growth particularly strong in the mortgage and credit card categories.The Federal Reserve Bank of New York said household debt rose by $193 billion to $13.15 trillion last quarter, completing the fifth straight y...

By Matthew Heller • Feb. 14, 2018

U.S. Trade Gap Rises 12.1% in 2017

The U.S. trade deficit in December and for the full year both rose to the highest levels since 2008, underlining the challenges facing the Trump administration’s “America First” trade policies.For December, the trade gap increased 5.3% to $53.1 billion, topping economists’ estimates of $52.0 bill...

By Matthew Heller • Feb. 7, 2018

U.S. Wage Growth Hits Highest Level Since 2009

U.S. employers added more jobs than expected in January and wages saw their biggest jump since the end of the Great Recession, suggesting the long-awaited surge in salaries may be on the horizon.The Labor Department said nonfarm payrolls grew by 200,000 last month, beating economists’ expectation...

By Matthew Heller • Feb. 5, 2018

How to Know When Better Profit Margins Aren’t Better

Ask CEOs if the ability to increase profit margins year after year would help their companies compete more successfully against peers, and you’re likely to hear a resounding yes. After all, if making a profit is a company’s raison d’être, cutting costs or increasing prices to improve profit margi...

By Tim Koller and Jack McGinn • Feb. 2, 2018

US Productivity Posts Unexpected 0.1% Drop

U.S. productivity finished 2017 with a surprising decline but economists are still hopeful for faster growth this year as the new tax law spurs business investment.The Labor Department reported Thursday that output rose 3.2% in the fourth quarter while hours worked grew slightly faster at 3.3%. T...

By Matthew Heller • Feb. 1, 2018

Rising Lawsuits Could Hike Insurance Premiums

With the number of shareholder lawsuits soaring, CFOs are likely to soon become preoccupied with their companies’ insurance premiums and the need to make scrupulous disclosures, a review of last year’s securities class-action lawsuits suggests.Reaching a record high for the second straight year, ...

By David Katz • Jan. 31, 2018

U.S. GDP Growth Falls Back to 2.6% for Q4

The U.S. economy couldn’t keep up its recent growth spurt, falling back to a pace below 3% in the fourth quarter amid a surge in imports.In its first of three estimates, the Commerce Department said gross domestic product increased at a 2.6% annual rate in the October-December period. Economists ...

By Matthew Heller • Jan. 29, 2018

U.S. Oil Production to Hit New Record in 2018

The United States is on course to overtake Saudi Arabia as the world’s second-largest oil producer, with output expected to hit record levels this year, according to the International Energy Association.U.S. crude production now stands at 9.9 million barrels per day, the country’s highest level i...

By Matthew Heller • Jan. 19, 2018

Amazon Announces Finalists for Second HQ

Amazon has whittled down the list of candidates for its much-coveted second headquarters, delivering snubs to some cities in the western U.S. and including some surprise locations.The list has now shrunk from more than 238 applications submitted by local officials in Mexico, Canada and the U.S. t...

By Matthew Heller • Jan. 18, 2018

U.S. Import Prices Rise 0.1% in December

U.S. import prices don’t seem likely to give much of a boost to inflation in the near term after recording their smallest gain in five months.The Labor Department said on Wednesday that the price of imported goods edged up only 0.1% in December after increasing 0.8% in November. It was the smalle...

By Matthew Heller • Jan. 10, 2018

CFO Magazine’s Most-Read Stories of 2017

Two-thousand and seventeen was a year of numerous newsworthy events from start to finish. America inaugurated a new president, passed a tax reform bill, saw regulations slashed, witnessed an economic boom in the jobs market, and looked in amazement at the meteoric rise of bitcoin, just to name a ...

By Kerry Maruna • Jan. 5, 2018

Weekly Jobless Claims Unchanged at 245,000

The number of Americans making initial claims for state unemployment benefits slightly exceeded expectations in the week that ended Dec. 23 but remained within the range of the past two months.The Labor Department said initial jobless claims, a proxy for layoffs, were unchanged at a seasonally ad...

By Matthew Heller • Dec. 29, 2017