U.S. Banks Offer Support for London as Financial Center

Four major U.S. investment banks pledged to help London maintain its position as the world’s leading financial center, despite shaky prospects following last month’s referendum by the U.K. to leave the European Union.Executives of Bank of America Merrill Lynch, Goldman Sachs, JPMorgan, and Morgan...

By Christopher Hosford • July 7, 2016

Dairy Deal: Danone to Acquire WhiteWave

Danone, the multinational food company known for its Dannon and Activa yogurt lines, will acquire WhiteWave Foods Co. in an all-cash deal representing a total value of about $12.5 billion.Danone, based in Paris, will pay $56.25 per share for Denver-based WhiteWave, manufacturer of plant-based dai...

By Christopher Hosford • July 7, 2016

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

Fatal Tesla Crash Raises Disclosure Questions

Tesla Motors is facing scrutiny of its disclosure practices after failing to report a fatal crash involving its autopilot technology when it sold shares in May.The May 7 accident in Florida killed Joshua Brown, 40, while he was driving a Tesla Model S on autopilot. The automaker disclosed June 30...

By Matthew Heller • July 6, 2016

States Fight to Enforce Online Sales and Use Taxes

The explosive growth of online retailing over the last 20 years has increased the pressure on states to seek to enforce sales and use taxes on online purchases. This year, many states have taken significant steps to enhance their ability to enforce payment of the taxes, and to expand their taxing...

By William H. Gorrod • July 6, 2016

Tax Foundation Says GOP Tax Plan Boosts Economy

A tax-reform proposal offered by Republicans in the House of Representatives would lead to the creation of 1.7 million jobs, raise wages by 7.7%, and boost gross domestic product by 9%, according to a report by The Tax Foundation, a conservative-leaning organization.That cost of the proposal, if ...

By Christopher Hosford • July 6, 2016

The Fed Approves Capital Plans of 30 Banks

The Federal Reserve Board, in its most recent report of capital adequacy of major U.S. banks, approved the capital plans of 30 bank holding companies. However, the Fed objected to the plans of two banks, including Deutsche Bank.Plans approved by the Fed under its Comprehensive Capital Analysis an...

By Christopher Hosford • July 5, 2016

Bank of England Pares Banks’ Capital Requirements

The Bank of England, in an attempt to mitigate fallout from the United Kingdom’s vote to leave the European Union, has lowered the amount of capital banks must hold in reserve, Reuters reported. The goals are to enable banks to keep lending and to prevent insurers from getting rid of corporate bo...

By Christopher Hosford • July 5, 2016

Can Technology Save the Corporate Tax Shell Game?

CEOs around the world are staring down a growing operational risk that has the power to tarnish the reputations of even the most successful Wall Street darlings: tax. More specifically, the public perception of tax avoidance.Brian Peccarelli It doesn’t matter if a public company has achieved doub...

By Brian Peccarelli • July 5, 2016

The New-Look CFO

Finance chiefs of the future will have diverse professional backgrounds, meaning that accounting experience will not always be required. In these five articles, industry experts weigh in on the most sought-after attributes of the modern CFO.The Optimal CFO? Depends on Industry Growth Rate“Account...

By CFO Editorial Staff • July 2, 2016

Who Should Decide Whether to Keep Funding a Project?

New research provides some surprising evidence regarding a perennial issue that bedevils capital projects: how to avoid cost underestimates that can lead to budget-busting cost overruns.Commonly proffered advice for avoiding overruns addresses decision-makers’ tendency to escalate their commitmen...

By David McCann • June 30, 2016

CFOs on the Move: Week Ending July 1

Things aren’t getting any easier for SunEdison, a bankrupt solar energy company. On Tuesday, a week after CEO Ahmad Chatila resigned, Ilan Daskal, who had been designated in March as the company’s next CFO, resigned before assuming the post. He was to have replaced Brian Wuebbels, who was slated ...

By David McCann • June 30, 2016

With Focus on Revenue, FASB Eyes Nonfinancial Assets

The intense corporate focus on the Financial Accounting Standards Board’s revenue recognition rules has prompted FASB to try to clarify how companies should account for sales of nonfinancial assets — assets not part of their regular dealings with customers.Following up on problems it unearthed in...

By David Katz • June 29, 2016

Making Cybersecurity a Business Function Poses Challenges

Thanks to the constant stream of mega-breaches, cybersecurity has moved from the server room to the boardroom. While it’s become evident that cyber defense requires board-level input and attention, translating deeply technical cybersecurity and risk factors into business terms has been an ongoing...

By Elon Kaplan • June 29, 2016

U.K. Firms’ Shares Tumble on Brexit Concerns

U.K. firms Foxtons and easyJet saw their shares tumble Monday after they warned investors that profits this year could be hurt in the fallout of the Brexit vote.London-based real estate firm Foxtons said the run-up to the referendum created “significant uncertainty” across London residential mark...

By Katie Kuehner-Hebert • June 27, 2016

CFO Week in Review

In case you missed them, CFO offers the week’s most-read stories.Welcome to ‘Risk Accounting’Academics have codified a new accounting technique that could revolutionize enterprise risk management.The Longest Cash CycleCan the asset-backed security market cure wireless carriers’ elongated cash cyc...

By Kerry Maruna • June 26, 2016

Despite Chip Cards, Payment Security Continues to Be a Concern

 As retailers and restaurants have been slow to roll out chip-based point-of-sale terminals for more secure payment processing, companies such as Wendy’s are still experiencing POS breaches. Here are five stories to get you up to speed on the latest in POS security.Only 37% of Retailers Equipped ...

By CFO Editorial Staff • June 25, 2016

Conference Board’s Leading Economic Index Fell 0.2% in May

The U.S. economy is showing signs of resilience, but the numbers still point to slow growth with meaningful downside risks, according to new data from the Conference Board released Thursday.The board’s Leading Economic Index for the United States declined 0.2% in May to 123.7, following a 0.6% in...

By Katie Kuehner-Hebert • June 23, 2016

FedEx Beats Q4 Estimates But Lowers Guidance

FedEx Corp. posted an unadjusted loss for its fiscal fourth quarter and lowered its guidance for the coming year as it continues to beef up its ground operations to keep up with the growth in online shopping.The company said Tuesday that it lost 26 cents per share for the quarter ended May 31, co...

By Katie Kuehner-Hebert • June 22, 2016

Musk Shifts Gears at Tesla With SolarCity Offer

Elon Musk is planning to drive his electric car maker Tesla Motors toward diversification by combining it with the solar installation company he also controls.Tesla on Tuesday offered to acquire SolarCity in an all-stock deal valued at up to $2.8 billion. Musk is the chairman and largest sharehol...

By Katie Kuehner-Hebert • June 22, 2016

The Optimal CFO? Depends on Industry Growth Rate

Last month, in our Square-Off debate forum, CFO presented five opinions on the question of whether an accounting background is important to today’s finance chiefs. The views given were divergent, well-stated, and in some cases startling.Now comes a look at the issue from academia, with three busi...

By David McCann • June 21, 2016

Corporate Cash Piling up as Brexit Vote Nears

While there’s a great deal of uncertainty about whether the United Kingdom will vote to leave the European Union this Thursday, there’s almost no doubt that a pro-Brexit result would be a downer for U.S.-based multinationals. And while no one is comparing the situation to the 2008-2010 financial ...

By David Katz • June 21, 2016

Economic Profit: A Better Way to Measure Performance

BP shareholders balk at a $19 million compensation award for the company’s chief executive officer. Forty-two percent of Anglo American shareholders vote against a $4.9 million executive pay package. Credit Suisse’s CEO asks the board to cut his bonus after an unprofitable year.Frank R. Hopson Fr...

By Frank R. Hopson • June 20, 2016

Taking a Closer Look At Compensation Strategies

 Changes in overtime pay rules present an opportunity for CFOs to review their company’s payroll practices to minimize existing risk as well as future risk. Here are five articles covering the latest compensation trends that are important to CFOs.New Overtime Pay Rules: How to AdjustThe U.S. Depa...

By CFO Editorial Staff • June 18, 2016

CFO Week in Review

In case you missed them, CFO offers the week’s most-read stories.CFOs on the Move: Week Ending June 10IMAX, Coach, Edison Int’l, Assurant, Ruby Tuesday, DSW, Colfax, Nexteer Automotive, DeVry Education, Beam SuntoryThe Era of the Well-Rounded CFOFour major disruptive changes in the past several y...

By Kerry Maruna • June 18, 2016

The Longest Cash Cycle

In the last decade, Amazon.com’s cash cycle — the time between when it pays cash for inventory and when it receives cash from the customer — started appearing in corporate finance textbooks as an example of brevity. While in many industries and companies a cash cycle can be one, two, three months...

By Vincent Ryan • June 17, 2016