Financial News and Analysis | CFO Dive
WEBArtificial intelligence may boost profit margins 2% over next five years: BofA. “Investors frequently overestimate the magnitude of tech disruption in the near term and underestimate it over the longer term,” Bank of America said. CFO Dive provides in-depth journalism and insight into the most impactful news and trends shaping the finance ...
Truist pushes ambitious reorganization in $750M cost-cutting plan
WEBNov 6, 2023 · Truist announced its plan to realize $750 million in cost savings over 12 to 18 months during the Barclays Global Financial Services Conference in September. At the time, CEO Bill Rogers said the company would make “sizable reductions” to its workforce over the next three quarters centered around a restructuring that included consolidated ...
CFOs must invest in digital skills to get ahead of technology hype ...
WEBNov 30, 2022 · The role of technology and the possibilities of automation within the future of finance are at the forefront of CFOs’ minds as they prioritize digital transformation at their organizations.. This makes it critical for financial leaders to prepare for and understand technology hype cycles and new technology trends, as the next decade in finance will be dominated by a shift towards ...
With generative AI, start with the basics, EY tells CFOs
WEBAug 4, 2023 · With generative AI, start with the basics, EY tells CFOs. CFOs facing the generative AI learning curve should take a two-pronged approach to its deployment, EY’s Mike Kelly advises. Published Aug. 4, 2023. Grace Noto Editor. An executive holds the image of a digital chatbot. ipopba via Getty Images. Since …
Uber confirms long-time CFO’s exit - CFO Dive
WEBAug 2, 2023 · Dive Insight: A veteran of Merrill Lynch — where he served as CFO — and the CIT Group, Chai took the ride-sharing company’s finance seat about five years ago as the company marshaled forces for its coming initial pubic offering, only a year after Khosrowshahi was named CEO.. Chai, 57, received $12.28 million in total compensation last year, comprised of $800,000 in salary, $10.29 million ...
CarParts.com CFO loads up inventory as just-in-time delivery loses ...
WEBJan 19, 2022 · As part of the new strategy the company, which gained a tailwind during the pandemic as customers flocked to online shopping, has been investing in its real estate and technology, both designed to help it control its future rather than rely on other vendors or outsourcing.. CarParts.com has gone from having two distribution centers in 2019 to six, helping to reduce the average time that ...
SEC fines Fluor $14.5M for accounting flaws - CFO Dive
WEBSep 7, 2023 · Dive Brief: T he Securities and Exchange Commission said that Fluor, a construction and engineering company, will pay a $14.5 million penalty for accounting violations, including failures in internal controls for two large, fixed-price construction projects.; Fluor bid on the projects based on overly optimistic cost and timing estimates, the SEC said. The company later faced spiraling cost ...
Twitter CFO retweets board plan to enforce Musk deal
WEBJul 10, 2022 · Twitter CFO Ned Segal and CEO Parag Agrawal retweeted Twitter Board Chairman Bret Taylor’s Friday message that the board was gearing up to go to court to close its $44 billion merger agreement with Elon Musk, suggesting the C-suite executives are closing ranks on forcing Musk to complete the …
United Airlines CFO downplays potential Denver HQ move
WEBSep 7, 2023 · Dive Brief: There are “no imminent plans” for United Airlines to move its headquarters from Chicago to Denver, CFO Gerald Laderman said Wednesday in response to questions at the TD Cowen Global Transportation Conference held in Boston. “We have a long-term lease at the Willis Tower, our headquarters,” Laderman said, noting that the ...
Five US cities target building energy use, emissions with fines
WEBNov 29, 2022 · San Francisco, with a goal of zero GHG emissions from large buildings by 2035, will be the first of the five cities to implement fines, according to the report. Beginning in December, properties that don’t comply with new requirements will be fined $100 a day for a maximum of 25 days in a 12-month period. The fines in New York and Washington ...