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☆ Big companies are seeing more turnover in the CFO chair. Here's why that matters
▼ + stars: | 2024-10-26 | by ( Morgan Chittum | ) www.cnbc.com time to read: +9 min

CFO turnover hit 8.9% globally during the period, surpassing levels in 2022 and 2023. A global pandemic, increased geopolitical tensions overseas, supply chain disruptions and recession concerns have made the CFO role even harder. Jim Cramer also has pounded the table of the importance of the CFO role, arguing that "a good CFO can give you a feeling of a Good Housekeeping seal of approval." Moving forward, it's unclear whether CFO turnover will continue to pickup. "If a CFO immediately resigns intra quarter, what companies will do sometimes is reaffirm their guidance to ease investor concerns.

Persons: Zachary Kirkhorn, Deepak Ahuja, Russell Reynolds, CFOs, Steve Gallucci, —, they've, Goldman Sachs, David Viniar, Josh Crist, Crist, Raymond James, Paul Shoukry, Jim Cramer, Amy Hood, Hood, we've …, Costco's Richard Galanti, Eli Lilly, Anat Ashkenazi, Ashkenazi, Ruth Porat, Apple, Luca Maestri, Amy Weaver, Mike Stepniak, Jeff Marks, Marks, It's, Jim Cramer's, Jim Organizations: Wall Street, Deloitte's Global, CNBC, Fortune, Goldman, Bloomberg News, Kolder, Microsoft, Honeywell, Federal, Jim Cramer's Charitable, Istock, Getty

☆ A.I. Helped Spot a Copper Bonanza. It Could Transform More Than Mining.
▼ + stars: | 2024-07-11 | by ( Max Bearak | ) www.nytimes.com time to read: +1 min

Peering into their computer screens in California last year, the data crunchers watched a subterranean fortune come into focus. What they saw transported them 10,000 miles across the world, to Zambia, and then one more mile straight down into the Earth. On Thursday, their company, KoBold Metals, informed its business partners that their find is likely the largest copper discovery in more than a decade. According to their estimates, reviewed by The New York Times, the mine would produce at least 300,000 tons of copper a month once fully operational. The New York Times also reviewed an independent, third-party assessment of KoBold’s claims, which, while slightly more conservative than KoBold’s own, largely corroborated the size of the deposit.

Persons: KoBold Organizations: KoBold Metals, The New York Times, New York Times Locations: California, Zambia

☆ ‘A Roller Coaster in a Carwash’: Why Scientists Are Flying Into Hurricane Beryl
▼ + stars: | 2024-07-03 | by ( Austyn Gaffney | ) www.nytimes.com time to read: 1 min

Hurricane Beryl, which devastated islands in Grenada on Tuesday and is now heading toward Jamaica and the Cayman Islands, has broken records as the earliest hurricane ever to reach Category 4 and Category 5 intensity in the Atlantic Basin. Wind speeds of at least 160 miles per hour were recorded on Monday. “There are so many superlatives to describe Hurricane Beryl given the time of year, the location and the strength,” said Jonathan Zawislak, a meteorologist and flight director for the National Oceanic and Atmospheric Administration. Dr. Zawislak is a hurricane hunter, the title held by about 30 to 40 scientists, data crunchers and pilots based in Lakeland, Fla., who fly into hurricanes on three airplanes nicknamed Gonzo, Kermit and Miss Piggy. Both Kermit and Miss Piggy are equipped with Doppler radar on their bellies and tails that scientists use to create 3-D images of the storm.

Persons: Beryl, ”, Jonathan Zawislak, Zawislak, Kermit, Miss Piggy Organizations: National Oceanic, Atmospheric Administration Locations: Grenada, Jamaica, Cayman Islands, Lakeland, Fla

☆ The 'misery index' often predicts who'll win the White House — but it may be broken
▼ + stars: | 2024-04-09 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

But there are signs the gauge may now be broken, with many people still gloomy about the economy. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But Main Street has taken a decidedly gloomier view, with recession worries persisting and big-name companies ramping up layoffs. This story is available exclusively to Business Insider subscribers.

Persons: it's, —, Paul Krugman, Mohamed El, hasn't Organizations: Service, Business

It's by choice, yet she still suffers FOMO when Valentine's Day rolls around. She became a certified matchmaker last year and has organized a speed-dating event ahead of Valentine's Day. Like Valentine's Day, loneliness has become big business, complete with an outpouring of books offering up self help and data. Her best advice for making it through Valentine's Day is as sweet as those candy conversation hearts that circulate this time of year. On Valentine's Day, the project is offering a free Zoom coloring session for anyone who cares to sign up.

Persons: — Elise Plessis hasn't, “, ”, Plessis, She'll, she'll, ” Plessis, Vivek Murthy, ” Murthy, that’s, David Sbarra, crunchers, ” Sbarra, Tori Mattei, She's, I’ve, “ I’ve, ” Mattei, Mattei doesn't, Jeremy Nobel, Nobel, —, Kelli Miller Organizations: Associated Press, University of Arizona, Harvard Chan School of Public Health, Foundation for Art & Healing Locations: Manitoba, Canada, U.S, America, Tucson, New York, Manhattan, Los Angeles

The narrow margin in Congress leaves both major parties fighting fiercely for every available seat in 2024. “By Lauren Boebert district shopping and becoming a carpetbagger so she can keep her office in D.C., she has now become part of the swamp,” he said. Still, Boebert is joining a race that is practically guaranteed to elect a Republican anyway, said Galdieri. Before she switched districts, Boebert had apologized up and down Colorado’s 3rd district as part of her last-ditch strategy against Frisch. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

Persons: —, Lauren Boebert, Donald Trump, ”, Robin Varhelman, She’s, Big, Boebert, Boebert's, vaping, Adam Frisch, tangibly, ” Boebert, “, Richard Hudson, Frisch, he’s, Jeff Hurd —, Mike Johnson, Richard Holtorf, Lauren, Christopher Galdieri, who’ve, — she’s, Dawn Whitney, Whitney, Holtorf, Mike Lynch, she’s, Mark Moorman, She’d, that’s, Seth Masket, Debbie Spear — Organizations: Colo, Colorado Republican, U.S ., Trump, Republican, U.S . House, GOP, Democrat, National Republican Campaign, Saint Anselm College, Republicans, Representatives, Center, Associated Press, America Statehouse News Initiative, America Locations: Colorado, U.S, Washington, Brush, Denver, Lauren Boebert, New Hampshire, she’s, Boebert, Colorado’s House, Colorado’s, Texas

NEW YORK (AP) — In an age of deepfakes and post-truth, as artificial intelligence rose and Elon Musk turned Twitter into X, the Merriam-Webster word of the year for 2023 is “authentic.”Authentic cuisine. “We see in 2023 a kind of crisis of authenticity,” he said ahead of Monday's announcement of this year's word. Merriam-Webster added the word to its online dictionary in September and it's been among the top lookups since, Sokolowski said. DOPPELGANGER: Sokolowski calls this “a word lover's word.” Merriam-Webster defines it as a “double,” an “alter ego” or a “ghostly counterpart.” It derives from German folklore. Interest in the word surrounded Naomi Klein's latest book, “Doppelganger: A Trip Into the Mirror World,” released this year.

Persons: deepfakes, Elon Musk, Webster, Peter Sokolowski, “, ”, Sokolowski, OpenAI, Taylor Swift, Prince Harry, Musk, ” Sokolowski, ” There's, there's, EGOT, Viola Davis, Merriam, it's, Israel ”, Lookups, ” Merriam, Naomi Klein's, Naomi Wolf, King Charles III, Ryan Reynolds, Mike Johnson, recirculated, Donald Trump Organizations: Merriam, Associated Press, Twitter, Pixar, Titan, Covenant School, U.S, Rep, D.C Locations: Dubai, Israel, Gaza, Nashville , Tennessee, Louisiana, New York , Florida, Georgia, Washington

☆ Man City 84% likely to win Premier League, predict Opta
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Soccer Football - Premier League - Manchester City v Chelsea - Etihad Stadium, Manchester, Britain - May 21, 2023 Manchester City's Ilkay Gundogan lifts the trophy as he celebrates with team mates after winning the Premier League Action Images via Reuters/Lee Smith/File Photo Acquire Licensing RightsLONDON, Nov 14 (Reuters) - Manchester City have one Premier League point less than they had after 12 games last season but according to data analysts Opta are overwhelming favourites to claim a fourth successive title. City, according to Opta Analyst, have an 84.6% probability of lifting the trophy again with Liverpool given only a 9.1% chance and last season's runners-up Arsenal on 5.6%. Back-to-back defeats for Tottenham Hotspur mean that, according to Opta, their title hopes are virtually non-existent at 0.3%, the same as Aston Villa. Manchester United, currently in sixth place, are predicted to finish seventh and only have a 5.9% chance of finishing in the top four, although that has risen slightly of late. Newcastle United have a 25% chance of a second-successive top-four finish while Chelsea are predicted to finish ninth.

Persons: Lee Smith, Pep, Martyn Herman, Toby Davis Organizations: Soccer Football, Premier League, Manchester City, Chelsea, Etihad, Premier, League, Burnley, Liverpool, Arsenal, Tottenham Hotspur, Aston Villa . Manchester United, Newcastle United, Thomson Locations: Manchester, Britain, City

☆ Apollo may get noodle LBO thrown back in its face
▼ + stars: | 2023-10-12 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

The private equity firm has offered to buy Wagamama owner Restaurant Group (RTN.L) for 701 million pounds including debt. Restaurant Group is an obvious takeover target. And Restaurant Group itself reckons it can crank up its EBITDA margin by as much as 3.5 percentage points by 2026. Apollo could comfortably double its money, assuming it used debt of around 300 million pounds to buy the business, or 3 times 2024 EBITDA. The deal is being undertaken by a special purpose vehicle indirectly owned by Apollo Funds, managed by affiliates of Apollo Global Management.

Persons: Andy Hornby, Frankie, Jefferies, John Wood, Neil Unmack, Oliver Taslic Organizations: Reuters, Restaurant, Irenic Capital, Oasis Management, Apollo Group, Restaurant Group, Apollo Funds, Apollo Global Management, Thomson Locations: Britain

☆ Americans and Their Cars
▼ + stars: | 2023-06-13 | by ( Somini Sengupta | ) www.nytimes.com time to read: +1 min

Summertime is road trip time for many of us in the United States. That makes it a good time to look at what our relationship with the road has meant for global warming. The data crunchers at the Frontier Group, a research organization focused on sustainability, sought to answer that question by looking at gasoline consumption since 1949, the year the United States started tracking transportation data. They estimated that if American cars, S.U.V.s and pickup trucks were their own country, they would be the sixth-largest emitter of heat-trapping carbon dioxide emissions since 1949, putting them behind the total national carbon dioxide emissions produced by the United States, China, Russia, Germany and Japan. Add other forms of transportation, including heavy trucks, trains and planes, and U.S. transportation would be the fourth-largest carbon emitter, producing around 6.5 percent of the carbon dioxide that’s accumulated in the atmosphere over the last seven decades.

Organizations: Frontier Group Locations: United States, China, Russia, Germany, Japan, U.S

☆ No one wants to be an accountant anymore, but a program aimed at high schoolers looks to fix the shortage
▼ + stars: | 2023-04-17 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Accounting firms are facing a significant staffing shortage. Between the long hours, stressful deadlines and unflattering stereotype, more people are quitting the profession then going into it. Instead, students straight out of college are choosing to pursue careers in related fields like investment banking, consulting or data analysis. The additional credit hours required to earn a Certified Public Accountant (CPA) license don't help either. Starting in the fall, some public high school juniors and seniors can take Intro to Financial Accounting and earn three college credits through the University of Pittsburgh, which they can then transfer to the college of their choice.

☆ How Can We Make Accounting Cool?
▼ + stars: | 2023-02-10 | by ( Joe Queenan | ) www.wsj.com time to read: 1 min

In the past two years, as The Wall Street Journal recently reported, 300,000 accountants and auditors have left the profession, many on the dead run. The situation is so dire that American firms are now desperately recruiting accountants from overseas. In other words, there is an accounting deficit. The reason for the mass exodus of “bean counters” from the profession may have a lot to do with the very existence of that derisive term. If you look up the definition of “bean counter” you’ll read that accountants are shy, persnickety fussbudgets who are obsessed with trivial details.

☆ A New Feng Shui Cycle Starts Soon and Distressed Financial Traders Are All In
▼ + stars: | 2023-02-03 | by ( Elaine Yu | ) www.wsj.com time to read: 1 min

Banking is full of number crunchers—but Tsoi Sze Long is a little different. Mr. Tsoi, a feng shui expert in Hong Kong, uses elaborate formulas to help clients decide what objects to keep around them, what sort of lighting they should use, and even where they should sit in an office. He said he is increasingly winning business from people who work in finance.

☆ A shortage of accountants is pushing the industry to reboot its image to win over young talent: 'You have to sell them'
▼ + stars: | 2023-02-02 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +9 min

Accountants manage financial processes and financial reporting and ensure regulatory compliance. To combat shortages, those in the accounting industry are working to attract more people to the field. Sandy Torchia, the vice chair of talent and culture at KPMG, said the company hasn't been impacted by the accountant shortage yet. How the accounting industry is addressing the shortageMany firms are shifting to remote-work policies and investing in automation and technology to attract and retain talent. Lisa Simpson says the accounting industry needs automation to allow accountants to focus on "higher-value work."

☆ Pepsi wants you to drink soda mixed with milk this holiday season
▼ + stars: | 2022-12-01 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

Pepsi launched a campaign Thursday encouraging customers to try the combination and use the hashtag #PilkandCookies (as in Pepsi plus milk) to showcase their Santa-friendly concoctions. “Combining Pepsi and milk has long been a secret hack among Pepsi fans,” said Todd Kaplan, Pepsi’s chief marketing officer, in a statement about the campaign. Pepsi is now publicizing the mix as its spin on “dirty soda,” a popular TikTok trend that combines soda with syrup and cream. Pepsi is recommending a number of recipes to those who want to go beyond just Pepsi and milk, perhaps hoping to launch its own viral combination. Swig, which calls itself “home of the original dirty soda,” has been around since 2010 and serves a wide array of the carbonated mash-ups.

☆ Burger King's new 'Royal Reset' would reward 800 top restaurants but could punish thousands of others. Analysts worry it could kick off a 'Darwinian' battle for survival.
▼ + stars: | 2022-09-19 | by ( Nancy Luna | ) www.businessinsider.com time to read: +6 min

Tim Powell, the managing principal at the consultancy Foodservice IP, said Burger King units were long overdue for modernization. But he questioned Burger King's "survival of the fittest" tactic. Jose Cil, the CEO of Burger King's Restaurant Brands International, said the turnaround plan was directed at lifting sales for all restaurants. "All of that will lead to an output which is increased traffic, increased sales, increased restaurant-level profitability, and growth for the brand, from a systemwide sales standpoint. US sales at Burger King increased nearly 4% in 2021.

☆ Burger King's $400 million turnaround plan favors 800 top-performing restaurants. It's a 'Darwinian' move analysts say could leave hundreds of franchisees in the lurch.
▼ + stars: | 2022-09-14 | by ( Nancy Luna | ) www.businessinsider.com time to read: +6 min

Burger King unveiled a $400 million "Reclaim the Flame" turnaround plan last week. Burger King's $400 million "Reclaim the Flame" turnaround plan calls for upgrading 800 of the company's top restaurants, a "Darwinian" move that could hurt hundreds of poor-performing locations left without financial support, analysts say. Tim Powell, the managing principal at the consultancy Foodservice IP, said Burger King units were long overdue for modernization. Jose Cil, the CEO of Burger King's Restaurant Brands International, said the turnaround plan was directed at lifting sales for all restaurants. "All of that will lead to an output which is increased traffic, increased sales, increased restaurant-level profitability, and growth for the brand, from a systemwide sales standpoint.

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