Latest news
U.S. President Trump on Monday again publicly criticized Federal Reserve Chair Powell, accusing him of failing to cut rates promptly and calling him a "loser." Trump's remarks came as his senior economic advisers explored the possibility of removing Powell. In market reaction, the 10-year Treasury yield rose to 4.4%, and the dollar index fell 1%. Powell has repeatedly emphasized the Fed's independence and pointed out that factors such as tariffs could push up inflation and weigh on the economy.
The Trump administration's restructuring of the Internal Revenue Service (IRS) has taken another unexpected turn: Acting Commissioner Gary Shapley was removed just days after taking office, replaced by Treasury Deputy Secretary Michael Faulkender. This marks the fourth leader of the IRS since Trump took office in January. Amid a wave of high-level departures and large-scale layoffs, concerns are growing over the agency's service capacity and the outlook for tax collection.
The Payments Fraud and Control Survey Report released by the Association for Financial Professionals (AFP) on April 15 shows that in 2024, paper check usage by U.S. businesses rose significantly from 75% in 2023 to 91%, but checks remain the most commonly involved payment method in fraud. The report states that the reason is unclear, speculating that some businesses may mistakenly believe paper payments are safer.
Contract disposition is a frequently overlooked financial lever in M&A, potentially delivering significant cost savings. This article analyzes its potential, challenges, and best practices, emphasizing cross-departmental collaboration and systematic management.
The cannabis industry offers CFOs a real-time case study in navigating complex regulations and business growth. As federal and state rules continue to evolve, financial leaders can observe how companies adapt their accounting, tax strategies, and growth plans, thereby understanding how regulation shapes financial decision-making in emerging markets.
Tim Arndt, CFO of industrial real estate giant Prologis, noted during an earnings call that after the U.S. fully implemented global tariffs on April 2, customers lack a stable planning environment. Despite the company's 'very strong' leasing performance in the first quarter, signings over the past two weeks have fallen 20% from normal levels. Arndt believes policy uncertainty will boost warehousing demand and reiterated the company's long-term strategy of investing in locations where goods are consumed rather than produced.
Moody's Chief Economist Mark Zandi warned Thursday that the Trump administration's global tariff policy has pushed the US economy to the 'brink' of recession, with a 60% probability of recession. If the trade war does not ease within weeks, the US and global economies could fall into recession. Tariffs could raise unemployment and push inflation up by 2 percentage points. JPMorgan also gives a 60% probability of recession. The Atlanta Fed estimates a 2.2% contraction in first-quarter GDP. Former Treasury Secretary Summers highlighted the four major costs of tariffs.
Federal Reserve Chairman Powell said on Wednesday that policy changes such as tariffs by the Trump administration could push up unemployment and exacerbate inflation for the remainder of 2025, while noting that the impact of tariffs on inflation could be persistent.
Energy technology company Net Power announced on Tuesday that CFO Akash Patel and President and COO Brian Allen have been relieved of their day-to-day duties, and both will officially leave the company on May 1. CEO Daniel J. Rice is temporarily assuming the roles of President and CFO. The company is facing dual pressures of declining cash reserves and rising construction costs for its first commercial power plant.
Facing persistently fluctuating tariff policies, CFOs need to take proactive measures to mitigate impacts on finance and operations. Based on a guest article by Vivek Saxena, head of Genpact's finance and accounting business line, this article distills four key steps: exploring risk management scenarios, integrating business planning, strengthening budget control, and implementing continuous accounting practices, helping companies maintain resilience and competitiveness in an uncertain environment.