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The Maryland General Assembly passed HB 643, adding an alternative path to CPA licensure, allowing two years of work experience to substitute for additional credits. The bill awaits the governor's signature and will take effect on October 1. This move aims to alleviate talent shortages, with about 39 states and Puerto Rico having already relaxed educational requirements nationwide.
Commvault announced on Monday that former Chief Financial Officer Gary Merrill has returned to the company's top financial position, effective immediately. Merrill returns to the CFO role after two years as Chief Commercial Officer, following the departure of his predecessor Jennifer DiRico in January to pursue other opportunities. The company also appointed Geoff Haydon as Chief Customer and Field Operations Officer.
U.S. CPI rose 0.9% month-over-month and 3.3% year-over-year in March, with gasoline prices surging 21.2% contributing nearly 75% of the increase. The consumer confidence index fell to 47.6 in April, the lowest since data began in 1952. The energy price shock from the Iran conflict was a major driver, but core inflation remained moderate.
Software company Azul released a report stating that 69% of CFOs consider 10% to 30% of their cloud spending to be wasteful, nearly 90% of CFOs say cloud costs are rising, and two-thirds of enterprises have elevated cloud cost oversight to the board level.
xAI's Chief Financial Officer Anthony Armstrong has departed, becoming one of the latest in a wave of senior management exits at the company. Armstrong assumed the role in October last year, having previously worked at Morgan Stanley. His departure comes about two months after SpaceX acquired xAI, as SpaceX prepares for an IPO.
In an exclusive interview, Anthony Rini, the incoming Chief Financial Officer of the University of Connecticut, stated that despite the men's basketball team's loss to the University of Michigan in the NCAA finals, the team's performance will still enhance the university's visibility and potentially boost enrollment. He also shared his views on higher education funding models, the value of sports events, and his priorities upon taking office.
The 'One Big and Beautiful Bill' (OBBBA) brings significant opportunities for corporations, including 100% bonus depreciation, immediate deduction of domestic R&D expenses, and permanent transferability of tax credits, but it also introduces new challenges such as state-level tax law compliance and interactions between provisions. Tax teams need to manually review state consistency, pay attention to the impact of the GILTI renaming, and seize the window for accelerated depreciation elections in 2025-2026.
Caterpillar has appointed company veteran Kyle Epley as its next chief financial officer, effective May 1, 2026, succeeding Andrew Bonfield, who is retiring. During Bonfield's tenure, the company achieved record performance, and he will serve as an advisor until October 1 after retirement.
Adyen launched an intelligent treasury management tool on Thursday to help businesses integrate fragmented banking and payment systems. Early adopters include Etsy and Expedia Group. Research shows that companies manage an average of 5-6 primary banks and over 40 bank accounts, hindering liquidity flow.
Data from the US Bureau of Economic Analysis shows that real personal consumption expenditures edged up 0.1% month-on-month in February, following zero growth in January. With inflation persistently above the Federal Reserve's 2% target, compounded by energy price spikes driven by the Iran war, consumer confidence remains low and the spending outlook is weak. Fed officials and economists warn that energy and tariff uncertainties could further weigh on consumption and growth in the first half of the year.