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The Dallas Mavericks announced on Thursday the appointment of Kieran Kelly, a senior executive from the Chicago Bulls, as the team's new Chief Financial Officer. Kelly spent 12 years with the Bulls, where he led the 2020 NBA All-Star Game and the launch of the Windy City Bulls (G League team) in 2016. Mavericks CEO Rick Welts stated that Kelly's financial expertise and NBA experience will play a significant role in the team's future development. Kelly is a certified public accountant, worked at Deloitte for nine years, and served the Bulls from 2014 to March 2026. He will be involved in the preparation for the team's new arena and the exploration of new revenue streams.
Data released by the University of Michigan on Friday shows that the U.S. consumer confidence index fell 6% month-over-month this month, hitting a new low for the year. The Iran conflict pushed up oil prices and impacted the stock market, causing households' short-term economic expectations to plummet by 14% and personal financial outlook expectations to drop by 10%. Regarding inflation expectations, the one-year inflation expectation rose to 3.8%, the largest single-month increase since April 2025. Federal Reserve Chairman Powell stated that he will closely monitor changes in inflation expectations.
Marsh's 2025 Global Transaction Risk Insurance Report shows that as M&A activity warms up and deal sizes expand, transaction risk insurance prices have begun to recover after years of decline. Average premiums for representations and warranties insurance rose 16% in North America, 8% in Asia, and 5% in Europe, while remaining largely flat in the UK and Pacific regions. Craig Schioppo, Marsh's Global Head of Transaction Risk, stated that the price increase is primarily driven by claims activity, but it remains uncertain whether this marks a shift toward a tightening market cycle.
Traeger, an outdoor cooking products manufacturer, disclosed in a Friday securities filing that it awarded discretionary cash bonuses of $956,250 and $270,938 to CEO Jeremy Andrus and CFO Michael Joseph Hord, respectively. The bonuses were granted by the board despite the company failing to achieve performance goals under its 2025 annual cash incentive plan. This action comes amid the company facing low stock prices, widening losses, and multiple risks.
A Cornerstone Research report indicates that accounting-related securities class action filings dropped to 34 cases in 2025, the lowest in over twenty years; total settlements reached approximately $1.5 billion, up 40% year-over-year, with a median settlement of $17.1 million, the highest since 2022. The average case settlement duration extended to 4.1 years, the longest in a decade.
FASB voted on Wednesday (March 25) not to amend the current generally accepted accounting principles (GAAP) guidance regarding settlement payments received by airlines from aircraft manufacturers. The decision was made after staff did not recommend adding the project, with some board members expressing dissenting views.
In its latest interim economic outlook, the OECD warned that energy supply shocks triggered by the Iran conflict will push US inflation to 4.2% and drag economic growth down to 2%. This forecast contrasts with the optimistic expectations of Federal Reserve officials, highlighting the complex challenges facing monetary policy.
Ad tech company The Trade Desk experienced major board changes this week: former CFO Alexander Kayyal resigned as a director on March 19, following the abrupt termination of his five-month CFO tenure in January; Reddit CFO Andrew Vollero joined the board and audit committee, succeeding Gokul Rajaram, who is set to leave on April 3; director Kathryn Falberg resigned on March 23, leaving the company temporarily non-compliant with certain Nasdaq listing rules.
The U.S. Federal Trade Commission (FTC) announced on Tuesday a settlement with artificial intelligence startup Air AI and its owners, prohibiting them from marketing or selling business opportunities. The FTC accused the company of misleading entrepreneurs and small businesses through false growth promises, profit expectations, and refund guarantees, defrauding approximately $19 million in total. The settlement order includes an $18 million fine, but most of it was suspended due to inability to pay, with an actual payment of $50,000 for consumer relief.
The Financial Accounting Standards Board (FASB) on Wednesday rejected a potential revision project related to standards for preparing personal financial statements. The request was made in 2022 by Brooklyn College professor Daniel Tinkelman, stemming from differences in interpretation of the standards exposed in the Trump civil fraud case. FASB staff stated that most stakeholders considered the issue to be of low priority and that existing guidance already provides solutions. Tinkelman expressed disappointment with the decision.