• Mon, December 2, 2024

by: Bill Williamson

Thai Finance Minister says room for rate cut as inflation is low

There is room for a rate cut in Thailand as inflation is low, the finance minister said on Tuesday as he reiterated his call for monetary and fiscal policy to work together to support the economy. Fin

by: Bill Williamson

Partnership of promise

China and Peru have great potential for collaborating on green technology and climate finance.

by: Bill Williamson

Art Cashin, Wall Street veteran and CNBC regular, dies at age 83

Art Cashin, a renowned market pundit and the UBS director of floor operations at the New York Stock Exchange, has died at the age of 83, UBS said.

by: Bill Williamson

The Bill Gates Foundation Bought 1,000,000 Shares Each Of Two Stocks In Q3 2024 And They're Both In The Same Sector - Why?

Since leaving his post as Microsoft CEO in 2000, Bill Gates has become one of the world's most visible philanthropists. He does most of his charitable giving through the Bill and Melinda Gates Foundation,

by: Bill Williamson

LinkedIn Has A Few AI Features For Users To Try (And Here's How To Use Them)

LinkedIn offers benefits for paying for its Premium features, but are they really worth it? We took a look at the new AI tools on the platform.

by: Bill Williamson

South Africa is the perfect destination for outsourcing software development

by: Bill Williamson

Brokerage Radar: Jefferies bullish on Global Health, HSBC says 'Buy' to Bajaj Finance

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes M&M, Bajaj Finance, Gujarat Gas and more.

by: Bill Williamson

Robert Kiyosaki: 8 Assets To Get You So Rich You Can Quit Your Job Forever

In the realm of personal finance, Robert Kiyosaki stands as a beacon of unconventional wisdom, challenging traditional notions of wealth accumulation, get-rich tactics and financial freedom.

by: Bill Williamson

'Shark Tank' stars, AI investor and 'anti-woke' fund to take stage in Palm Beach County

The goal is investment and finance at Palm Beach County events. But there will be a political backdrop nonetheless.

by: Bill Williamson

Will County Board elects Democratic speaker, replaces Steve Balich as Republican leader

The Will County Board selected Sherry Williams of Crest Hill as Democratic leader and Jim Richmond of Mokena as Republican leader.

by: Bill Williamson

JPMorgan's investment banking chair departs, memo says

Wall Street giant JPMorgan Chase's global chair of investment banking Jennifer Nason is set to leave the bank early next year after almost four decades, according to an internal memo seen by Reuters on Monday.

by: Bill Williamson

This Interior Department senior executive has done it all when it comes to money

by: Bill Williamson

America's biggest private company is laying off thousands of workers

Cargill, the megasized Minnesota-based food production giant, is laying off about 5% of its global workforce as food commodity prices drop.

by: Bill Williamson

Insurance cost to drop if GST Council lowers taxes: Finance Minister

by: Bill Williamson

Banks behind troubled Brazil coffee traders could take $181 mln hit

Banks which financed two Brazilian coffee traders that last week sought court-supervised debt restructuring have a total of 1.1 billion reais ($181.6 million) in credit with the firms, court documents seen by Reuters showed on Monday.

by: Bill Williamson

Research shows business outlook in Wales is recovering

by: Bill Williamson

Planet Partners with Laconic to Deliver AI-Powered Forest Carbon Insights, Aiming to Enable Informed Carbon Credit Trading

Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today announced that they have signed a multi-year, seven-figure deal with Laconic, a company leading a global shift in climate finance,

by: Bill Williamson

Budgeting isn't for everyone, but 'intuitive spending' has its problems too

Financial pros discuss whether strict budgets are toxic or if flexible financial habits, like "intuitive spending," offer better long-term results.

by: Bill Williamson

How Dick's Sporting Goods Is Succeeding

We also chat with Christine Benz, the author of "How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement."

by: Bill Williamson

Macy's Multimillion-Dollar Error

  • Tue, December 3, 2024

by: Bill Williamson

PNB Housing Finance to start Loan Against Property from April 2025, says MD & CEO Girish Kousgi

by: Bill Williamson

Finance adviser confirms $1.1b IMF loan release by March

by: Bill Williamson

Crowell & Moring named "Banking & Finance Team of The Year" in LexisNexis Qatar Business Law Forum Awards

by: Bill Williamson

First Rail pursues 'clean core' SAP S/4HANA implementation

One of the UK's largest rail operators, First Rail, has completed its migration away from SAP ECC to S/4HANA private cloud. It took an 'adopt not adapt' approach to the implementation.

by: Bill Williamson

HELB, National Treasury Advertise Top Managerial Job Openings for Kenyans, Monthly Salary

The Higher Education Loans Board (HELB) and the National Treasury invited applicants for the position of Chief Executive Officer and Director General, respectively.

by: Bill Williamson

Average Net Worth by Age: How Do You Measure Up?

Have you surpassed the average net worth of your peers? Get tips from financial advisers on how to grow you wealth over time.

by: Bill Williamson

Pat Gelsinger and Carlos Tavares had the same big problem: Morning Brief

So far, 2024 is pacing to have a record number of CEOs out of a job. This week, two big ones — from Intel and Stellantis — illustrated a key point: It's hard to keep your job when your stock is down big.

by: Bill Williamson

Palestinians File German Complaint on Media Giant Axel Springer's Business in Israeli Settlements

German media giant Axel Springer is facing regulatory complaint by Palestinians about its business in Israeli settlements in the West Bank.

by: Bill Williamson

30 Under 30 Finance 2025: From Fintech's Top Founders To Wall Street's Best Dealmakers

These entrepreneurs, traders and investors are making an outsized impact in fintech, crypto and traditional financial services.

by: Bill Williamson

Qatar-Kazakhstan investment projects exceed $20bln

by: Bill Williamson

Google Worried Israeli Contract Could Enable Human Rights Violations

The tech giant, which has defended the deal to employees who oppose supplying Israel's military with technology, feared the project might damage its reputation.

by: Bill Williamson

EPFO claim rejected or 'returned': Know why and how to fix errors

Correct deficiencies: For returned claims, EPFO will indicate the errors or missing information. These could include incorrect details, missing documents, or discrepancies in personal information. Make necessary corrections by updating your details, documents, or any required information through the EPFO portal.

by: Bill Williamson

GDP declines by 0.3% in third quarter

South Africa's economy has unexpectedly shrunk by 0.3 percent in the third quarter. Agriculture, forestry and fishing industries decreased by 28.8 percent. The transport, storage and communication industry also decreased by 1.

by: Bill Williamson

Will Luxury & Sin Goods See A Tax Hike In December, 35% GST On Tobacco, Aerated Drinks?

The Group of Ministers (GoM) on Rate Rationalisation, has proposed a "different tax treatment" for sin goods such as cigarettes, tobacco, and pan masala, according to finance ministry sources. Sources Say GoM proposes a hike in GST on aerated drinks,

by: Bill Williamson

Be the Future: Malaysia's First Philosophy, Politics & Economics Degree

As the world becomes increasingly interconnected, future leaders must tackle complex challenges in geopolitics, economics, and ethics with a multidisciplinary mindset.

by: Bill Williamson

Stellantis considers Picat and Filosa for CEO, says source

The board of Stellantis is considering its head of North American operations, Antonio Filosa, and procurement chief Maxime Picat as internal candidates for the CEO position, a source close to the matter said on Monday.

by: Bill Williamson

Jack Nathan Health Closes Sale of Canadian Business and Positions for Global Growth

by: Bill Williamson

France faces 'moment of truth' with government on brink of collapse

PRIME Minister Michel Barnier warned that France has reached its "moment of truth," as far-right leader Marine Le Pen is set to join a left-wing coalition to topple his government as soon as this week.

by: Bill Williamson

Lighthouse Canton Releases Venture Debt Report, Highlighting Growth of Non-Dilutive Financing for Startups in India

Lighthouse Canton has released an in-depth report titled "Silent Bloom: Venture Debt's Growing Influence." on India's startup ecosystem and its venture debt funding landscape. The global investment institution's report highlights the growing importance of venture debt as a financing tool in India's startup ecosystem.

by: Bill Williamson

REITs in India: 24% returns and 60% of office space ready for investment

Embassy REIT, Mindspace REIT, Brookfield India REIT, and Nexus Select Trust REIT generated returns of 24%, 18%, 6%, and 39% respectively since their inception

by: Bill Williamson

Upper Crust owner SSP posts 23% rise in annual profit

by: Bill Williamson

Egypt's non-banking finance hit $13bln in 9 months: FRA

by: Bill Williamson

Indonesia offers six oil and gas blocks in second 2024 auction

by: Bill Williamson

Buy 'Magnificent Seven' on Corrections, NYU's Damodaran Says

The "Magnificent Seven" stocks are a buy during corrections as most of them will keep generating money, according to a New York University professor known for his expertise on valuations.

by: Bill Williamson

Commonwealth bank announces major changes to everyday accounts and additional cash withdrawal fees

Commonwealth bank customers will now be subject to a $3 fee when withdrawing their cash with major new changes approaching in the new year. Customers of Commonwealth Bank Australia will now be subject to a $3 fee when simply withdrawing cash.

by: Bill Williamson

Will RBI announce a rate cut? MPC meet date, time, and what to expect

The December MPC will convene from 4 to 6 December, with the decisions announced live by Governor Shaktikanta Das at 10 AM on December 6. The announcement can be streamed live on the RBI's YouTube, Facebook, and X platforms. Updates will also be available on the Business Standard website and social media platforms.

by: Bill Williamson

Prosus invests $100 million in Vastu Housing Finance, acquires minority stake

by: Bill Williamson

Exclusive: Netflix star Ryan Serhant raises $45 million to disrupt the real estate brokerage business

The reality TV personality is starting his next act as a tech entrepreneur with backing from Camber Creek and Left Lane Capital.

Macy's Multimillion-Dollar Error

In this podcast, Motley Fool analyst Jason Moser and host Ricky Mulvey discuss: How more than a hundred million dollars can go missing. The impact of weight loss drugs on junk food manufacturers. Some advice for investors looking for artificial intelligence pick-and-shovel plays.
Macy's, the iconic American department store chain, experienced a significant financial setback due to a multimillion-dollar error in its accounting practices. According to a report by The Wall Street Journal, Macy's had to restate its financial results for the first three quarters of 2022 after discovering that it had overstated its earnings. The error stemmed from miscalculations in the company's lease accounting, leading to an overstatement of pre-tax earnings by approximately $100 million. This mistake not only affected Macy's stock prices, causing them to drop, but also raised concerns about the company's financial oversight and internal controls. The restatement was necessary to correct the inflated figures and provide a more accurate depiction of Macy's financial health, amidst ongoing challenges in the retail sector including shifts towards online shopping and competition from newer retail models.

Read the Full AOL Article at:
https://www.aol.com/finance/macys-multimillion-dollar-error-202100024.html