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IPO Market Warms Up: Number of Filings and Underwriting Willingness Rise in Tandem

After several years of relative quiet, the IPO market is showing strong momentum and optimism. Although the total number of listings this year remains below earlier expectations, it is significantly higher than in previous years. As of mid-October, the pipeline of companies preparing to go public grew by more than one-third year-over-year. In the first three quarters of 2025, over 160 companies completed listings, already surpassing the 150 companies for the full year of 2024. If this momentum continues, IPO activity from autumn 2025 through 2026 is expected to reach levels not seen since 2021.

Risk Management
Federal preemption legislation may bring a 'fiscal dividend' to the United States: tech industry group estimates

The Computer & Communications Industry Association (CCIA) released an analysis report stating that federal-level preemption of state artificial intelligence legislation is expected to bring a 'fiscal dividend' of approximately $600 billion to the U.S. federal government between 2026 and 2035, primarily driven by reduced procurement costs and increased tax revenue. The report comes as Congress is considering incorporating relevant provisions into the National Defense Authorization Act, a move that has faced bipartisan opposition from some governors and lawmakers.

Compliance
The Future of Fleets: Why CFOs Should Treat Mobility as a Strategic Asset

Mobility is rapidly becoming an engine for corporate transformation. Advances in electrification, automation, and intelligent connectivity are reshaping how organizations move people and goods, and how these flows impact the balance sheet. According to the white paper "The Great Mobility Shift," traditional fleet ownership is giving way to connected, data-driven ecosystems, where mobility is no longer a back-office cost but a strategic tool that can drive profitability, sustainability, and long-term value creation. This article explores trends such as electrification, automation, AI and connectivity, embedded and on-demand mobility, and how CFOs should integrate mobility transformation into their financial strategies.

Strategy & Operations
Reshaping Credit Decisions with Data Power to Drive Steady Business Growth

CFOs and their teams have long faced the challenge of balancing revenue growth, financial risk management, and superior customer experience, with credit decisioning at the core of this challenge. Traditional credit tools rely on outdated bureau data and manual reviews, offering only a partial view, leading to slow decisions, customer friction, and lost revenue opportunities. Craig Lenders, Director of Product Management at Capital One Trade Credit, notes that modern credit decisioning must be fast, data-rich, and aligned with risk appetite. By integrating bank and credit card activity, payment behavior, and real-time cash flow patterns, businesses can achieve automated decisions for 85% of applications within 30 seconds, turning credit into a tool for building trust, loyalty, and growth.

Risk Management
HP plans to cut up to 6,000 jobs by fiscal 2028, citing AI

HP issued a statement on Tuesday, planning to cut 4,000 to 6,000 global employees by the end of fiscal 2028 to advance its AI strategy and improve operational efficiency. This move is expected to result in approximately $1 billion in cost savings, but the company will also incur restructuring-related expenses of about $650 million.

Technology
IRS interim guidance expands eligibility for Trump's 'tip tax exemption' bill

The U.S. Treasury and IRS issued interim guidance on Friday, allowing more workers to temporarily benefit from the 'tip tax exemption' and 'overtime pay exemption' provisions in Trump's 'One Big Beautiful Bill.' The guidance provides transitional relief for employers and employees until final rules are issued, and waives penalties for related filings for the 2025 tax year.

Compliance
U.S. consumer confidence declines across the board, with multiple indicators falling to the lowest since tariffs took effect

Data released by the Conference Board on Tuesday showed that the consumer confidence index dropped sharply by 6.8 points to 88.7 in November, the lowest level since the full tariffs were implemented in April. Key sub-indices, including labor market, business conditions, and income expectations, all weakened across the board, with respondents widely citing prices, tariffs, and political factors. Meanwhile, retail sales in September grew only 0.2%, below expectations, indicating that consumer momentum is slowing.

Treasury
New York State Will Not Immediately Switch to New CPA License Regulations: Detailed Follow-up Arrangements

New York State Governor Kathy Hochul signed a bill providing an alternative pathway to Certified Public Accountant (CPA) licensure, but the new regulations will not take effect until November 21, 2026. During the transition period, the industry will clarify course details for the 120-credit pathway and address student concerns. Currently, 24 states across the country have implemented similar reforms.

Strategy & Operations
Hasbro CFO on AI Applications, Creative Protection, and Play-Doh Barbie Collaboration

At the MIT Sloan 2025 CFO Summit, Hasbro CFO and COO Gina Goetter stated that AI helps financial executives quickly integrate large amounts of information, such as bank briefings. She revealed that the company is advancing an 'AI-first' strategy, but the creative process is protected. Demand forecasting is now almost entirely AI-driven. The company has also partnered with Disney, Netflix, and others, and Play-Doh Barbie is now available.

Technology
Kroger admits its robotic automation strategy was too aggressive

American supermarket chain Kroger announced on November 18 the closure of three robotic fulfillment centers operated with Ocado and adjusted its e-commerce strategy, expecting a $400 million profit improvement but incurring approximately $2.6 billion in charges. This move marks Kroger's reflection on its automation investments and reflects that growth in U.S. fresh grocery e-commerce has fallen short of expectations.

Technology

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