Grab Holdings Ltd. ’s finance chief is pruning the company’s spending as the ride-hailing and food-delivery app looks to cut its losses and get closer to break-even.
Struggling home-goods retailer Bed Bath & Beyond Inc. on Tuesday named an interim executive to lead its finances, a move aimed at reassuring investors after the death of Chief Financial Officer Gustavo Arnal.
Many finance chiefs scouting for efficiencies are relying on zero-based budgeting, a tool that gained attention during the pandemic, to identify potential savings as they prepare for a possible economic downturn.
Bed Bath & Beyond has lost several executives who could temporarily step into the role after the death of its CFO. Still, the company is expected to move quickly to reassure investors by appointing an interim CFO.
“Put capital where it can return the most:” Halliburton CFO Eric Carre talks about how to generate higher capex-returns and manage high inflation.
Money-market fund yields are going up as the Federal Reserve raises rates, incentivizing treasurers to move cash out of corporate bank accounts, which have been slow to adjust.
Central banks’ diverging interest rate moves are complicating matters for companies looking to hedge their foreign-exchange risks, creating higher costs for some while benefiting others.
Aflac Inc., a Columbus, Ga.-based insurer, generates about 70% of its income in Japan. With the yen at a two-decade low against the dollar, that could spell trouble, but the company’s hedging program helps protect it, its finance chief said.
Battling high inflation, rising interest rates and economic uncertainty, companies raised less capital in the markets during the first half of the year compared with the first six months of 2021, when inflation wasn’t as high and many businesses tapped cheap funding to replace higher-priced debt.
Companies are reviewing their hedging strategies in light of the strong U.S. dollar, which is denting the value of overseas earnings. The strength of the currency also is making some American products less competitive overseas, forcing businesses to look for ways to cut costs as they struggle to maintain margins.