Fed Maintains Interest Rates, Forecasts 2023 Rate Hike

The Federal Reserve maintained its target fed funds rate range of between zero and 0.25%. The Fed also reassured investors it will continue to support the economy via asset purchases while the U.S. recovers from the pandemic.“The Federal Reserve will continue to increase its holdings of Treasury ...

By Lauren Muskett • June 16, 2021

First American Settles SEC Charges for Cybersecurity Disclosure Failures

Real-estate title insurer First American Financial reached a $487,616 settlement with the U.S. Securities and Exchange Commission for not maintaining cybersecurity disclosure controls and procedures that exposed sensitive customer information.First American was notified by cybersecurity journalis...

By Lauren Muskett • June 15, 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

Four Questions CFOs Should Ask Their Supply Chain Leaders

Transportation seems to be the topic of conversation more often these days. From shortages on our grocery store shelves for everyday items we previously took for granted, to the news of a large container ship stuck in the Suez Canal, to more recent news of disruptions in fuel supply in the Southe...

By Chris Gaffney, and Mark Shaughnessy • June 14, 2021

Experts React to 5% CPI Inflation

The SPDR S&P 500 ETF Trust traded higher by 0.5% on Thursday morning after the Labor Department reported a 5% increase in the consumer price index in the month of May, the fastest inflation growth since the summer of 2008.What Happened: The headline CPI index rose 5% in May, exceeding economi...

By Lauren Muskett • June 14, 2021

Balancing ‘Subscribe Once’ and ‘Pay for Usage’

Software-as-a-serve (SaaS) is almost synonymous with subscription models. After all, the whole notion of subscribing to something is not that you’re simply buying a product but that you’re committing to a long-term relationship with a service provider. Subscriptions are ideal for SaaS. They allow...

By Todd McElhatton • June 12, 2021

CFOs On the Move: Week Ending June 11

Anan Kashyap Anan Kashyap is stepping down as CFO at Poshmark after five years. Kashyap will leave the clothing reseller in August after completing its second-quarter 10-Q filing and will remain with the company as an adviser until the end of the year. Kashyap played a key role in Poshmark’s Janu...

By Lauren Muskett • June 11, 2021

GameStop Stock Falls On Q1 Results; Hires New CEO, CFO

GameStop reported first-quarter financial results after the close Wednesday and announced the appointment of two new top executives.What Happened: Sales in the first quarter rose 25% year-over-year for GameStop.The company’s $1.28 billion in sales came in ahead of Wall Street’s consensus estimate...

By Lauren Muskett • June 10, 2021

IAC Finance Chief to Leave Job

Glenn Schiffman Glenn Schiffman, IAC executive vice president and chief financial officer, is leaving the media conglomerate to pursue a new opportunity.IAC, which owns home project marketplace Angi, childcare platform Care.com, and other businesses, said Schiffman will stay at the company for a ...

By Lauren Muskett • June 9, 2021

U.S. Recovers $2.3M in Bitcoin From Colonial Pipeline Hackers

A U.S. government task force has reportedly seized more than $2.3 million, out of the $4.3 million, in Bitcoin, which was used to pay the ransom in an attack on the Colonial Pipeline system.Officials from the Department of Justice said in a press conference on Monday that they had found and recap...

By Lauren Muskett • June 8, 2021

Gensler Ousts PCAOB Chair; Other Board Members to Follow

In a statement that hit the Securities and Exchange Commission website at 4:14 p.m. on Friday, SEC Chair Gary Gensler said he removed William D. Duhnke III, chair of the Public Company Accounting Oversight Board, effective immediately.Duhnke III’s term was not officially up until October 24, 2022...

By Vincent Ryan • June 7, 2021

CFOs On the Move: Week Ending June 4

Aradhana Sarin Aradhana Sarin will become CFO at AstraZeneca when its takeover of Alexion Pharmaceuticals is completed later this year. Dr. Sarin is currently executive vice president and chief financial officer of Alexion. She joined Alexion in November 2017 and was chief business and strategy o...

By Lauren Muskett • June 4, 2021

Beyond Meat Appoints Phil Hardin CFO

Beyond Meat appointed Phil Hardin as its new finance chief. Hardin joins the plant-based meat maker from Amazon, where he worked for 15 years in finance and investor relations across several business units. Hardin was most recently vice president of finance for Amazon Advertising and held other l...

By Lauren Muskett • June 4, 2021

Six Ways CFOs Can Help Small Businesses Recover

Many small- and medium-size businesses have been sailing through incredibly turbulent waters for over a year. As of May 2021, 34% of small businesses in the U.S. remained closed. Even as the economy picks up and GDP growth surges back, overall confidence in the small business sector remains low, ...

By Steve McNally • June 3, 2021

Blockchain Strategies Needed as U.S. Clamps Down on Crypto

Two developments unfolding in Washington this spring should have corporate finance and tax departments brushing up on their blockchain. First, Gary Gensler was confirmed as the chair of the Securities and Exchange Commission (SEC). Then, the Biden administration announced a new tax enforcement pl...

By Lauren Muskett • June 2, 2021

Microsoft Accuses SolarWinds Hackers of USAID Cyberattack

Microsoft has blamed the Russian SolarWinds hackers, Nobelium, for compromising the United States Agency For International Development’s (USAID) mass email system to violate the accounts of over 150 global government agencies, human rights groups, and non-governmental organizations (NGOs), the Fi...

By Vincent Ryan • June 1, 2021

CFOs On the Move: Week Ending May 28

Heather Dixon Health care provider Everside Health hired Heather Dixon as its new chief financial officer. Dixon previously served as senior vice president, global controller, and chief accounting officer of Walgreens Boots Alliance. Before that, she was vice president, controller, and chief acco...

By Lauren Muskett • May 28, 2021

Is Bitcoin a Buy?

Having covered cash management and treasury in-depth at CFO for years, I’ve been astounded by the statements of companies investing slices of their cash reserves in Bitcoin. Some business media outlets, too, suggest it makes perfect sense for a VP of treasury to take short-term cash residing in m...

By Vincent Ryan • May 27, 2021

AMC’s CEO Uses Social Media to Connect With Retail Investors

AMC Entertainment CEO Adam Aron is planning to increasingly engage with the movie theater chain’s new-found backers, the retail investors, through Twitter.What Happened: Aron took to Twitter earlier this month to say that he has started following “Apes” — a nickname for retail investors who are p...

By Lauren Muskett • May 25, 2021

Time for CFOs to Influence the SEC’s Climate Effort

Corporate sustainability is an increasingly big tent containing a broad spectrum of views and practices. In recent years, talk of “corporate purpose” and “stakeholder capitalism” has grown in importance and garnered the most attention.Ironically, however, behind the headlines, the most meaningful...

By Lauren Muskett • May 25, 2021

CFOs On the Move: Week Ending May 21

Dan Janki Dan Janki is the new finance chief at Delta, effective July 12. Janki joins the airline from General Electric, where he is currently senior vice president and CEO of GE power portfolio. He has more than 25 years of experience at GE in a variety of senior roles, including CFO for GE cons...

By Lauren Muskett • May 21, 2021

PCAOB Critics Call On Gensler to Clean House

A group of 11 investors has asked new Securities and Exchange Commission chair Gary Gensler to perform a major housecleaning at the Public Company Accounting Oversight Board.The investors, former members of the PCAOB’s Investor Advisory Group (IAG), accuse the PCAOB of “drifting away” from its “c...

By Vincent Ryan • May 20, 2021

Small-Biz Owners Used Forbearance, HELOCs to Survive

How did so many small businesses survive the worst of the pandemic? The Paycheck Protection Program helped. But it took more than that to keep many small businesses financially afloat.On Wednesday, an analysis by the New York Fed provided some clues. By drawing on data from its Consumer Credit Pa...

By Vincent Ryan • May 20, 2021

Senators Introduce Bipartisan Postal Reform Bill

In the latest effort to restore the U.S. Postal Service to financial health, a bipartisan group of U.S. senators has introduced legislation that would save it $46 billion over the next 10 years.The Postal Service Reform Act of 2021 would eliminate the requirement under a 2006 law that USPS pre-fu...

By Matthew Heller • May 20, 2021

China Cryptocurrency Warning Leads to Crypto Selloff

The People’s Bank of China issued a statement on Tuesday cautioning against the use of cryptocurrencies as a means of payment.What Happened: Despite the fact that Chinese officials were merely reiterating their previous stance on trading virtual currencies, the news seemed to deepen the existing ...

By Lauren Muskett • May 19, 2021

Improving ROIC: Reevaluate How Capital Is Invested

CFOs often look at return on invested capital (ROIC) to enhance the capital required to grow their businesses, particularly with the need for fast-paced transformation. But the denominator of the ROIC equation, “invested capital,” often takes a back seat; this can hamper long-term value creation ...

By Lauren Muskett • May 18, 2021