401(k) plans must be monitored by employers, high court says

May 19th, 2015  // News

The U.S. Supreme Court has ruled that employers providing 401(k) plans have an ongoing duty to review investments offered. It's necessary to "monitor trust investments and remove imprudent ones," according to the ruling. A six-year statute of limitations on breach of fiduciary duty doesn't bar lawsuits against those who fail to carry out this responsibility, the court says. Read more

More data point to weakening U.S. economy

May 18th, 2015  // News

Advertisement MAY 18, 2015 SIGN UP | FORWARD | ARCHIVE | ADVERTISE Brought to you by the American Institute of CPAs ‚ÄČ Top Story Advertisement More data point to weakening U.S. economy Fairly encouraging U.S. employment numbers are unlikely to be sustained unless output growth picks up, and there's little sign of that, writes Bob McTeer, former president of the Federal Reserve Bank of Dallas. Overall, evidence is growing that the economy may be settling back into low- Read more

U.S. jobless claims drop more than expected

May 15th, 2015  // News

The four-week average of initial unemployment claims reached its lowest level in 15 years, the Labor Department said. Claims last week fell by 1,000, to 264,000, more than analysts predicted. Read more

6 steps for enhancing audit quality

May 14th, 2015  // News

The AICPA on Thursday released a six-point plan with recommendations for improving audit quality, which covers several stages in the process of being or becoming an auditor. Read more

U.S. sees highest bond volatility since mid-Oct.

May 13th, 2015  // News

Traders pulling out of bets that interest rates will hold at historically low levels have sent the yield on the benchmark 10-year Treasury bond soaring. A rout in fixed-income securities that started in Europe last week has spread to the U.S., with normalized volatility on three-month options for 10-year U.S. interest-rate swaps jumping as much as 7% on Tuesday. Read more

Investment-banking experience valued in CFO role

May 12th, 2015  // News

Recent hires show that many companies are looking for CFOs who have worked in financial services, and investment banking in particular. Executives with experience in investment banking are often adept at successfully deploying capital, said Bryan Proctor of Korn/Ferry International. Read more

U.S. sales figures to give clearer picture of economy

May 11th, 2015  // News

After a U.S. April employment report last week that was cause for relief but not jubilation, markets will be watching this week's retail sales figures for further clues to the true state of the economy. Analysts say the second quarter is shaping up to be better than Q1, in which the economy probably contracted, but note that challenges remain. Read more

Unemployment fell to 5.4% with 223,000 jobs added in April

May 8th, 2015  // News

Employers added 223,000 jobs last month, and the unemployment rate declined to 5.4%, data show. April's jobs report is stronger than the surprisingly weak one for March, when the economy added the fewest jobs since December 2013. Read more

Trade-deficit increase suggests U.S. economy contracted in Q1

May 6th, 2015  // News

The U.S. trade deficit shot up to $51.4 billion in March, the biggest shortfall in more than six years, suggesting that the economy contracted in the first quarter. The government's preliminary estimate last week that the economy expanded 0.2% in Q1 was based on an assumption that the trade deficit would be $45.2 billion. Read more

PIMCO fund no longer the world’s biggest bond fund

May 5th, 2015  // News

After two years of investors pulling out money from the PIMCO Total Return Fund, which was created by Bill Gross, Pacific Investment Management's flagship fund has lost its position as the world's biggest bond fund. Its assets have fallen to $110.4 billion, putting it below Vanguard Total Bond Market Index Fund's $117.3 billion. Read more

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