“I probably waited too long” to retire: Costco’s outgoing CFO Richard Galanti talks about why he stuck around for nearly four decades, how his role has changed and the fate of $1.50 hot dog and soda combo.
Carvana Tightens Lending Standards Even as It Staffs Up Ahead of Lower Interest Rates
Faced with higher delinquency rates, online car retailer Carvana has tightened its lending standards even as it expects falling interest rates to bring greater sales later this year.
Whirlpool Accelerates Debt Reduction as Interest Rates Stay High
Whirlpool, the company behind KitchenAid mixers and Maytag washing machines, will double down on debt reduction this year as US interest rates remain high.
A $6 Trillion Wall of Cash Is Holding Firm as Fed Delays Cuts
Investors are plowing billions into money-market funds by the day. Corporate treasurers are hoarding record amounts of cash. The market is digesting a glut of Treasury bills without a hiccup. For an asset class that many market prognosticators all but left for dead to start the year, there’s still plenty of life left in cash.
Qualcomm’s CFO Hasn’t Found Big M&A Target Yet
For my latest for Bloomberg News, I spoke to Qualcomm CFO Akash Palkhiwala about the outlook for M&A, valuations and why the company hasn’t done a blockbuster deal yet.
XPO Looks to Lower Leverage and May Buy Back Debt Early, CFO Says
Logistics provider XPO is working to reduce leverage after it purchased assets from defunct Yellow and might consider buying back some of its debt at par.
Generative AI Seen as Helping to Identify M&A Targets, Bain Says
Deal makers are turning to artificial intelligence and generative AI tools to source data, screen targets and conduct due diligence, with 80% of practitioners expecting to use the technology in the coming three years.
Rubbermaid Owner Newell Plans to Use Cash to Pay Off Bond Maturing in 2024
Newell, the company behind the Rubbermaid, Sharpie and Elmer’s brands, plans to pay off the $200 million of bonds it has maturing this year with cash.
Synopsys Plans to Tap Loan, Bond Markets to Fund Ansys Acquisition
Synopsys plans to finance its $34 billion purchase of software maker Ansys in part with a term loan as it seeks flexibility to pay down debt piecemeal after the acquisition has closed.
US Companies Pay Up to Hedge Debt After Interest-Rate Volatility Soars
Wall Street’s corporate bond desks are seeing a major increase in demand for hedges as debt issuers grapple with soaring interest-rate volatility.