Many of the world’s biggest companies, from Silicon Valley tech firms to large European banks, are bracing for the prospect that climate change could substantially affect their bottom lines within the next five years, according to a new analysis of corporate disclosures. To read the full article in The New York Times, click: Companies See Climate Change Hitting Their Bottom Lines in the Next Five Years.
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The Association’s quarterly survey finds that staffing is still a top worry. Finance executives in the United States continue to feel good about growth in their respective industries, despite creeping concerns that the good times could be coming to an end in the near future. To read the full article in the Journal of Accountancy, click: Finance Leaders Feel Good but Ready for a Downturn.
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Regulation from 1995 requiring companies to set up representative offices in China scrapped, as vice-premier warns of new challenges ahead. As Washington prepares to unveil a corporate tax-cut plan, Beijing has scrapped cumbersome requirements on foreign businesses that have been in place for 22 years in its latest bid to woo investors. To read the full article in South China Morning Post, click: Beijing Cuts Red Tape for Foreign Firms as it Vies for Investors.
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Companies Plan Cost Reductions Over Economic Concerns Spurred by concerns over the global economy, 88% of respondents to a survey of senior executives at Fortune 1000 companies say they are planning to look for ways to cut costs in the next two years. Matthew Heller explains. To read the full article in CFO.com, click: 88% of Firms Planning Cost Cuts in Next Two Years.
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Bank for International Settlements sees global trouble brewing Several major factors are converging and posing a threat to the global economy, the Bank for International Settlements said in a report. China’s slowdown is hurting emerging markets dependent on commodity exports, the bank said, even as the rising value of the U.S. dollar adds stress in markets where much debt is dollar-denominated. Brian Blackstone, Wall Street Journal, reports on this issue. To find out more on this Dow Jones Business News article, click: BIS Highlights Trouble Spot for Global Economy.
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Federal Reserve officials have expressed growing optimism at the December meeting that the U.S. economy is steadily recovering. As the price of oil continues to fall and with payrolls growing, there is a good possibility that 2015 will experience higher economic growth than currently forecast. However, the weakness of the global economy and the anemic response of foreign governments could weigh on domestic growth. If variable loan rates increase and credit becomes more expensive and harder to get, how will it effect the engagements of BV professionals? Find out more from the New York Times’ coverage of the Federal Open…
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New technologies are emerging in the market to fast, that we barely acquaint ourselves with one before two more burst onto the scene. Not all of these advancements will impact our world or even still be around a decade from now. The ones that do last, however, will transform the economy and our lives in significant ways. In an extremely informative and interactive report by McKinsey & Company titled, Disruptive Technologies: Advances that will transform life, business and the global economy, twelve technologies are singled out as the most significant, with a projected $33 trillion yearly impact on global markets…