CFO Journal
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Three Must-Read Stories
Back to basics for GE, and perhaps the rest of us; Cisco's CEO on staying ahead of technology shifts; a tech CEO takes on the gender wage gap.
- Cash
Chevron CFO Needs to Boost Cash Flow to Cover Dividend
Chevron needs to boost its cash flow in order to maintain its dividend.
- CFO Lessons
Brightcove CFO: How to Balance Investment vs. Turning a Profit
Brightcove CFO Kevin Rhodes told CFO Journal that there's nothing more important for a CFO than credibility, and spoke of the delicate balance between making investments for the future versus choosing to become profitable immediately.
- CFO Report
Valeant’s Schiller to Leave CFO Role
Valeant Pharmaceuticals International Inc. is in the market for a new finance chief, as Howard Schiller plans to step down from the post. Mr. Schiller, a former Goldman Sachs executive, said his decision to leave the company after a little more than three years as CFO was personal, not a signal the company’s acquisitive streak is coming to an end.
- FASB
U.S. Rule Makers Propose Year Delay on Revenue Recognition Overhaul
The board that sets U.S. accounting rules officially proposed a one-year delay for companies to adopt new revenue recognition standards on Wednesday.
- Currency
International Paper Sees Weak Chinese Economy
China’s economy appears worse on the ground than the reported economic numbers suggest, said International Paper’s chief financial officer, Carol Roberts.
- Cash
Corporate Cash Parked in Corporate Debt Reaches All-Time High
The amount of cash U.S. firms allocated to corporate debt hit a record high in March, as certificates of deposit and commercial paper registered declines, according to data from Clearwater Analytics.
- CFO Moves
UPS Picks Controller for Next CFO
United Parcel Service Inc. tapped Richard Peretz, currently corporate controller and treasurer, to be its next finance chief, effective July 1. He will succeed CFO Kurt Kuehn, finance chief for the past eight years, who will retire after 38 years with the package-delivery giant.
- Currency
Corning Takes Hit on Euro Decline
Glassmaker Corning Inc.’s profitls took 2% hit as the euro currency fell relative to the U.S. dollar during the first quarter, even after the company hedged its exposure to the euro for the first time.
- Cash
Parking Corporate Cash Is Sure to Get More Complicated
Sweeping changes in money-market funds are still a year and a half away, but finance executives already are preparing for complications in managing corporate cash holdings.
- Executive Moves
Health Care Sector Leads in CFO Turnover
Merger and IPO activity helped bring new blood into finance-chief posts at health-care companies in 2014.
Latest Finance News
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AIG Profit Rises on Investment Sales WSJ
AIG said its first-quarter profit jumped 53%, buoyed by the sale of investment holdings, while the one-time government ward continued a strong share-buyback program.
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U.S. Stocks Rebound WSJ
U.S. stocks rose Friday, bouncing back from the previous session’s steep declines.
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Berkshire Net Profit Rises 10% WSJ
Berkshire Hathaway said net profit rose 10%, boosted by gains in investment income at its insurance division and improved performance at its railroad.
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The Problem With Twitter Ads WSJ
Marketers love that Twitter reaches millions of people, but they aren’t convinced it’s the best place for their ad dollars, even with a new fee structure.
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U.S. Factories Start Spring Solidly—Mostly WSJ
U.S. manufacturers kicked off the spring with more production and orders from their factories, but a sign of falling employment put another dark cloud over the labor market.
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Macro Horizons: Global Economy Entered Spring at a Sluggish Pace WSJ
Whether it’s Japan’s hint of inflation, China’s manufacturing purchasing managers index just barely hanging on to an expansion, or a mixed back of credit and factory numbers out of the U.K., the impression from data Friday is that global growth is still alive but only barely.
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Oil Slips After Strong April Rally WSJ
Oil prices retreated from 2015 highs Friday as the dollar strengthened and traders assessed the still oversupplied global crude market.
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U.S. Government Bonds Sell Off WSJ
Treasury bond prices tumbled Friday for a fifth straight day, capping the biggest weekly selloff in nearly two months.
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Tesla Unveils Line of Battery Packs WSJ
Tesla Motors unveiled a line of home and industrial battery packs, representing a strategic shift for the electric car company.
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Ford Expands Recall Over Door Latches WSJ
Ford is expanding a recall of small and midsize cars to fix door latches that may not stay closed under pressure from U.S. safety regulators.
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Dollar Gains on Solid U.S. Data WSJ
The dollar rose against most of its peers Friday, as a round of solid U.S. data suggested the economy may be finding its feet after a recent stumble.
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Luxury Cars Drive Auto Sales Higher WSJ
America’s taste for pricey automobiles hit its stride in April amid low gasoline prices and favorable lending terms, with buyers paying on average hundreds of dollars more for a light vehicle than in the same period a year ago.
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Is Wage Growth Finally Arriving for Workers? WSJ
We have been harping on wage growth here at MoneyBeat for years now, arguing there is no better indicator of the true health of the economy. So while GDP was recovering, while asset prices were surging, we've been waiting to see wages rise. The wait might be over. Maybe.
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The Social Media Sell Off — Twitter, LinkedIn, Yelp Tank WSJ
Three social media companies -- LinkedIn, Yelp and Twitter -- spooked investors with their first-quarter results this week.
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Who Cares That IPOs Lack Accounting Standards? Nobody, Really Bloomberg
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ISM’s April Manufacturing Index Undercuts ‘Winter’ Theory WSJ
If you're in the camp that says the first quarter's standstill economy had more do to with the snow and less to do with the fundamentals, don't look at this morning's PMI report.
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Hacked Firms Could Keep Quiet Under New U.S. Law WSJ
Proposals for a national privacy law would allow companies to decide if breaches warrant telling customers.
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China Passes Mexico as the Top Source of New U.S. Immigrants WSJ
Move over, Mexico. When it comes to sending immigrants to the U.S., China and India have taken over.
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Fed’s Williams Says Summer Rate Rise Possible if Data Supports Action WSJ
Federal Reserve Bank of San Francisco President John Williams said Friday it’s still possible the U.S. central bank can raise interest rates this summer.
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Fed’s Mester: ‘All Meetings Are on the Table’ For Rate Rises WSJ
Federal Reserve Bank of Cleveland President Loretta Mester said Friday she is not yet willing to rule out supporting a rise in rates at central bank's June policy meeting despite data showing a very weak start to growth in 2015.
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U.S. Seeks to Compensate Victims of BNP Paribas Violations WSJ
BNP Paribas SA was sentenced Friday to five years of probation and ordered to pay a $140 million fine. Along with the sentencing, the U.S. announced it would try to compensate victims of the bank's violations.
