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Data released Thursday by The Conference Board showed that the U.S. leading economic index rose 0.1% month-over-month in May, driven by stronger stock markets and a narrowing interest rate gap, marking a second consecutive month of growth. However, the organization warned that consumers are cutting back on spending due to rising everyday costs, and economic growth is expected to slow from 2.1% in 2025 to 1.8% in 2026.
The U.S. Sixth Circuit Court of Appeals on Wednesday rejected the appeal of William Smith, former CFO of the Detroit Riverfront Conservancy, upholding his 19-year prison sentence. The court ruled that Smith had waived his right to appeal under a plea agreement signed in 2024. The case involves approximately $40 million in embezzled funds.
On June 18, Pfizer announced that Chief Financial Officer Dave Denton will leave on August 15 to take a position in the consumer goods industry. The company has appointed Cecile Guegan, currently Senior Vice President of Finance for Global Biopharmaceuticals Business, as interim CFO and initiated a search for a successor.
U.S. importers may receive about $166 billion in tariff refunds, and some downstream companies that did not directly pay tariffs but bore increased costs are beginning to seek refunds from suppliers. Legal experts point out that such claims face complex procedures and tax implications, with large logistics companies having clear refund plans while small and medium-sized enterprises are still exploring paths.
CME Group, the Chicago-based derivatives exchange operator, announced that current CEO Terrence Duffy will step down after a decade in the role to become Executive Chairman, with current CFO Lynne Fitzpatrick set to take over as CEO. The executive transition takes effect on March 1 or the date the company files its 10-K, whichever is later.
The Q2 2026 CFO survey released by Grant Thornton on Wednesday shows that only 37% of finance leaders are optimistic about the U.S. economic outlook over the next six months, a 20-quarter low; however, 67% of respondents plan to increase information technology and digital transformation investment over the next year, with AI becoming a strategic core for enterprises.
AT&T announced this week that current Chief Financial Officer Pascal Desroches will officially retire on December 31, 2026, and will be succeeded by former company executive Jennifer Biry. Biry will serve as Deputy Chief Financial Officer starting July 9, 2026, and will be promoted to CFO on January 1, 2027.
The Federal Reserve kept interest rates unchanged at its June meeting and removed language in its policy statement about possible future rate cuts, suggesting that the next rate adjustment could be a hike.
Financial Planning and Analysis (FP&A) is undergoing profound transformation. Prince Oppong, Senior Director of Strategic Finance at PayPal, points out that the most strategically influential FP&A leaders are not those with the most sophisticated models, but those who can consistently translate complexity into clear insights. Based on his internal experience at a global fintech company and exchanges with Fortune 500 peers, this article distills three core competencies that define the new generation of FP&A leaders: translating complexity into decisions rather than turning data into reports, becoming a trusted advisor rather than a number provider, and owning the financial narrative.
The latest report from the National Student Clearinghouse shows that among business majors at four-year US universities in spring 2025, enrollment in finance and accounting programs grew by 9.4% and 8.9% year-over-year, respectively, significantly higher than the overall 2.2% increase in business majors. The accounting profession has achieved growth for the third consecutive year, with CPA exam reforms and salary increases being important contributing factors.