The CFO controls the purse-strings across the entire company. Inevitably, their financial influence extends to areas of the business they are comfortable with – as well as aspects they don’t fully understand.
Opening a big beverage company for AB InBev (Anheuser-Busch InBev SA/NV) in an important city could be something usually done many times each year. Fortunately, it was important for Mexicans and Yucatecans as it became a recognition of the confidence and trust of a global company in Mexican people and workers.
Central bankers from around the world, who met recently in Sweden to discuss the reform of solvency ratios, did not come to an agreement. Behind a highly technical debate is the opposition of two different approaches on risk management, hiding also an economic war between Europeans and Americans.
The National Congress of the Communist Party of China (CPC), held every five years, is scheduled for this autumn; several of the country’s supreme leaders (the “seven immortals” of the Politburo Standing Committee) will retire. The general secretary of the party, Xi Jinping, is supposed to be re-elected for a new five-year mandate.
According to the 13th Henderson Global Dividend Index report published in February 2017, the finance industry was by far the most generous in terms of distribution of dividends in 2016, with $155.2 billion distributed by banks out of the total $1.154 trillion distributed worldwide.
Recently Deutsche Bank agreed to pay a fine of $7.1 billion to the United States to end the prosecution of the US Department of Justice (DOJ). Deutsche Bank is accused, as are other financial institutions, of having sold so-called “toxic” products on the markets, which were backed by mortgage loans
Dick Fuld, the man behind the wheel of Lehman Brothers when it went under in September 2008, had the reputation of being a ruler with an iron fist. On Wall Street, he was the most feared CEO due to his aggressive demeanor and unrelenting competitiveness.