Today's Finance Pulse
SpaceX files for record‑size IPO, targeting $50B‑plus raise and $1T valuation
SpaceX confidentially filed for an IPO slated for June 2026, aiming to raise at least $50 billion and push its valuation above $1 trillion. Founder Elon Musk holds roughly 44 percent of the company, giving him a net worth of about $823 billion. The filing positions the rocket and satellite maker among the most valuable public companies ever.
Also developing:
By the numbers: Berkshire Hathaway invests $10B in Alphabet's private placement
New Book Empowers Medical Nonprofit Leaders to Navigate Investment Decisions with Confidence
The American Association for Physician Leadership has released "When Mission Meets Money: Financial Guidance for Medical Nonprofit Leaders," a new book by Matt Paprocki aimed at helping medical nonprofit board members master investment oversight. The guide presents a three‑part formula—investment consulting, continuity coordination, and ongoing collaboration—to bridge the gap between clinical expertise and financial stewardship. It tackles fiduciary duties, ESG considerations, and reserve policies, reflecting lessons from COVID‑19 and recent market turbulence. Paprocki draws on experience advising more than 100 nonprofit organizations to offer practical, mission‑aligned advice.
Lukoil Writes Off $20 Billion of Foreign Assets in Sanctions Hit
Russian oil major Lukoil recorded a $20 billion write‑off of its foreign assets after the U.S. Treasury sanctioned its international holding LIG. The impairment pushed the company into a 1.06 trillion‑rouble net loss for 2025, a sharp reversal from the 852 billion‑rouble profit...
Corporate Report: Government Annuities Investment Fund Report & Accounts 2025
The UK Government Annuities Investment Fund (GAIF) released its 2025 Report & Accounts, a 30‑page, 332 KB PDF, formally laid before Parliament to satisfy a legislative reporting mandate. The document details the fund’s asset allocation, investment returns, and governance framework, confirming...
DORA Is Reshaping How Europe’s Financial Sector Thinks About Compliance, and Most Firms Still Aren’t Ready
Fourteen months after DORA became enforceable, European financial institutions are still struggling to meet its requirements. Surveys show only about a third feel confident about full compliance by the Jan 2025 deadline, while half expect to finish by end‑2025 and many...
UK Cyber Monitoring Centre Plans Expansion in US Amid Risk of Category 5 Attack
The UK Cyber Monitoring Centre (CMC) is preparing a US‑based operation to quantify the financial fallout of cyber incidents, targeting a 2027 launch after proving its model in Britain. In its first year, the CMC rated two 2025 attacks –...
California School District Says Taxpayers Win with Shorter Bond Terms
San Juan Unified School District has saved roughly $636 million in interest by issuing general‑obligation bonds with an average maturity of 17.23 years, far shorter than the typical 30‑year term used by most districts. The shorter‑term structure lowered the repayment ratio from...
VIDEO: Financial Strategies for Energy Storage Assets, Beyond Arbitrage
The energy‑storage market is reaching an inflection point as physical market revenues shrink, prompting operators to seek financial strategies beyond simple arbitrage. GridBeyond’s on‑demand webinar, hosted with Energy‑Storage.news, outlines how sophisticated hedging tools, structured derivatives, and revenue‑floor contracts can protect...
IFSCA Issues 60 Warnings in FY26 as Capital Market Intermediaries Breach Compliance Norms
The International Financial Services Centres Authority (IFSCA) has issued 60 warnings to capital market intermediaries (CMIs) operating in GIFT City during FY26 for breaches such as unattended offices, missing key personnel, weak infrastructure, and use of remote‑access software for trading....
Explainable Redress Decisions: What the FCA Demands
The FCA now mandates that every compensation outcome in large‑scale remediation programmes be fully auditable and transparent. Known as explainable redress decisions, firms must reconstruct the entire decision‑making process for each customer, documenting data sources, eligibility criteria, formulae, and any...
Weekly Roundup: March 13-19, 2026
The Harvard Law School Forum’s March 13‑19 roundup highlights a wave of governance developments, from SEC Chair Paul Atkins’ push for modernized disclosure rules to Delaware Supreme Court rulings affirming SB21 safe‑harbor provisions and ADR guidance for earnout disputes. Articles...
The Law of Basis Divergence: The Mechanics of Large-Cap Deleveraging
Large‑cap institutions are quietly deleveraging by selling core positions while spot indices rise, creating a "basis divergence" where spot and futures move in opposite directions. The March 20, 2026 KOSPI case showed spot gains (+0.31 %) alongside futures losses (‑0.07 %) as foreign investors...
Domestic Investment Push Could Cost Pension Savers Dearly, Report Warns
The Fraser Institute warns that proposals forcing large Canadian pension plans to boost domestic allocations could dramatically erode long‑term returns, likening the effect to a 73% tax on equity performance. It argues that the strong track records of Canada’s public...
SEC Targets Auditing ‘Bad Actors’ With New Enforcement Team
The U.S. Securities and Exchange Commission announced a new enforcement unit, dubbed the “SOX Group,” to pursue misconduct among auditors. The move follows a recent budget reduction for the independent board that traditionally monitors audit quality. A federal job posting...
Conditions for Call Satisfied
Småkraft AS announced that it has exercised the call option on its SMAKR02 ESG bond series and will redeem all outstanding notes. The redemption follows a refinancing under an amended and restated senior secured facilities agreement. All contractual conditions for...
EU Advisers Push ESRS Overhaul to Align Taxonomy and Trim Reporting Duplication
The Platform on Sustainable Finance and EFRAG have recommended a sweeping overhaul of the European Sustainability Reporting Standards to align them with the EU Taxonomy, SFDR and Benchmark Regulation. The changes aim to eliminate duplicated data collection, reduce compliance costs...
CD Projekt Sales Rise 9% in 2025, Driven by Cyberpunk Franchise
CD Projekt reported 2025 sales revenue of 867 million PLN, a 9% increase year‑on‑year, driven primarily by the Cyberpunk franchise. Net profit surged 33.7% to 594 million PLN, helped by a fivefold jump in the goods‑and‑materials segment after the Cyberpunk Ultimate Edition launched on...
Corporate Report: Whole of Government Accounts 2024 to 2025: Guidance for Preparers
HM Treasury released comprehensive guidance for the Whole of Government Accounts (WGA) 2024‑25 on 29 May 2025, with the latest update on 20 March 2026. The package includes user‑guidance PDFs for central and local government, Excel mapping tools, template forms, and an annex of...
Accounting and Tax Compliance for International Companies in the Netherlands
The Netherlands remains a top European gateway for foreign firms, but the ease of entry masks a demanding compliance landscape. Dutch law requires precise bookkeeping, seven‑year record retention, timely annual filings, and accurate VAT and corporate tax reporting. Small accounting...
Fashion Distributor Gab Files for Court-Supervised Reorganization
Belgian fashion distributor Gab International has filed for a court‑supervised reorganization, granting it several months to craft a recovery plan. The company faces significant outstanding debts to brands such as Ecoalf, Pepe Jeans, Strellson, Daniele Fiesoli, Clarks and United Legwear...
SalMar - Update of Issuer Credit Rating From Nordic Credit Rating
Nordic Credit Rating upgraded Norway‑based salmon farmer SalMar ASA to a BBB long‑term issuer rating with a stable outlook on 20 March 2026. The agency highlighted the company's strong profitability and moderate financial leverage as key drivers. The rating places SalMar in...
Emergency Spending: When Borrowing May Be a Practical Option
Unexpected costs such as medical bills, car repairs, or appliance failures can quickly strain household budgets. While a solid emergency fund remains the first line of defense, many families turn to short‑term borrowing when savings fall short. Digital lending platforms...
TOMRA: Annual Report 2025
TOMRA Systems ASA released its 2025 Annual Report on 20 March 2026, reporting €1.318 billion in revenue and a workforce of 5,800 employees. The company now operates roughly 119,900 installations across more than 100 markets, underscoring its global reach. TOMRA highlighted its circular‑economy...
Flipkart Group CFO Sriram Venkataraman Quits Amid Ecommerce Company's IPO Plans
Flipkart announced that group CFO Sriram Venkataraman will step down after a decade of service, coinciding with the company’s preparation for a 2027 initial public offering. The Walmart‑owned e‑commerce platform has also appointed senior vice‑president Nishant Verman to help drive...
Telangana FM Pegs 2026-27 Budget at ₹3.24 Lakh Crore
Telangana Finance Minister Mallu Bhatti Vikramarka presented the 2026‑27 budget at ₹3.24 lakh crore, a 6% increase over the previous year. The plan allocates ₹2.34 lakh crore to revenue expenditure and ₹47,267 crore to capital projects. State GDP reached ₹17.84 lakh crore, growing 10.7%—well above the national...
H Group Plc’s Financial Statements Release for 1 January – 31 December 2025: A Strong End to 2025
KH Group Plc reported 2025 net sales of €204.5 million, a 5% increase year‑on‑year, while comparable operating profit slipped 11% to €6.4 million. Net profit fell to €1.0 million and earnings per share declined to €0.01. The balance sheet showed a marked reduction...
ROSSANA FAJARDO: Topnotch Auditor, Accountability Champ
Rossana Fajardo, SGV’s country‑managing partner, was tapped in September 2025 to lead the Independent Commission for Infrastructure (ICI) probing alleged flood‑control project irregularities. During its brief six‑month existence, the commission held 32 hearings, summoned 36 witnesses and produced a 1,100‑page...
Singapore’s 2026 Budget: A Good Time for Surpluses
Singapore’s 2026 budget projects a modest SG$4 billion surplus, continuing the fiscal upside that began with a SG$10.5 billion surplus in 2025 after revenue rose 13 percent year‑over‑year. The government earmarked $6 billion each for Changi Airport’s expansion and the National Productivity Fund, which...
U Mobile Deal: Strategic Win or Debt Risk?
U Mobile Ownership Shift: A Strategic Masterstroke or a Debt-Fueled Gamble? Some asked: Local Triumph or Sovereign Risk? Corporate finance perspective, let me explain the A, B, & C: A. Positives B. Negatives C. Neutral ↓↓↓
Prorating Vs. Gating: Different Tender Offer Mechanics
Prorating investors in a standard 5% quarterly tender offer is not the same as gating or halting redemptions. https://t.co/p9tLyxgsOi
From the Microsoft Dynamics 365 Business Central Blogs: Audit Permissions; Payables Agent; Approval Workflows; API Pages vs API Queries
Microsoft Dynamics 365 Business Central version 28 introduces a Permissions Overview page, giving administrators a single pane to audit and manage user and group rights across all apps and extensions. The same release also launches an AI‑driven Payables Agent that captures invoices...
FP&A Should Lead, Shaping Decisions Before the Slides
When a CFO asks: “Who should lead this initiative?” It’s rarely about perfect files or extra slides. FP&A progression starts earlier — when your insight shapes decisions, not just explains them.
CFOs Must Own AI Trust, Not Just IT
The New Accountability: Why AI Trust is the CFO’s Most Critical Investment It is no longer enough for the CFO to simply delegate the security assessment of a new piece of technology to the IT department. https://t.co/LYvrlGxIbE https://t.co/iVZDNPHEZg
Basel Reproposal's Impact on Non-Bank Mortgage Lenders
The Federal Reserve’s Basel III reproposal softens capital requirements for mortgage‑backed assets, notably easing the Tier 1 cap on mortgage servicing rights (MSRs) while keeping a 250% risk weight. It introduces LTV‑based risk‑weight tiers, dropping to 25% for loans under 50% LTV,...
The Coca-Cola Company (KO): Our Calculation of Intrinsic Value
Analysts applied a discounted cash flow model to The Coca‑Cola Company, estimating an intrinsic share value of roughly $18‑19. The model uses an 8% discount rate, 2.5% terminal growth, and projects free cash flow reaching $6.7 billion by 2029, yielding a...
Genco Rejects Star Bulk-Backed Diana Shipping Bid
Genco Shipping & Trading rejected Diana Shipping’s improved takeover offer of $23.50 per share, valuing the dry‑bulker at roughly $860 million. The board said the proposal undervalues Genco, lacks a sufficient premium, and carries execution risks. Diana, backed by Star Bulk,...
New Chilean President Reverses Predecessor’s Policies, Cutting Culture Budget
Chile’s new president José Antonio Kast has ordered a 3% across‑the‑board budget cut, targeting the Ministry of Cultures, Arts and Heritage among 25 ministries. The culture ministry’s budget, which rose to roughly $580 million for 2026 under Gabriel Boric, will be...
SOFR Path Change Relative to 2/27
The Atlanta Federal Reserve’s Market Probability Tracker released a revised three‑month average SOFR outlook covering June 2026 through December 2028. The new projection lifts the expected rate path relative to the February 27 forecast, placing the current target range at 350‑375 basis points....
Six Critical Dimensions for Auditing IRRBB Models in Banking
In the post‑Basel III era, interest‑rate risk in the banking book (IRRBB) has become a primary source of earnings and capital volatility for banks. The Basel framework mandates independent audit of IRRBB measurement processes, placing internal audit as the third line...
Pigment Co-CEO Eléonore Crespo Wants to Give CFOs Superpowers
Pigment, the Paris‑born AI‑driven business planning platform, is transforming legacy spreadsheet‑based finance with AI agents that automate modeling, analysis, and planning. Co‑CEOs Eléonore Crespo and Romain Niccoli have raised nearly $400 million, driving the company toward $100 million in annual recurring revenue...
How Quality Management Assures Value and Builds Trust for Internal Audit
Chief audit executives now face heightened board expectations for assurance that delivers strategic clarity. The Global Internal Audit Standards mandate a Quality Assurance and Improvement Program, yet fewer than half of CAEs trust their current QAIP to boost audit quality....
How Small Businesses Can Survive Soaring Oil Prices and Keep Customers
Oil prices are spiking due to Middle East tensions, squeezing small‑business margins on fuel‑intensive operations. Raj Bhaskar, CEO of accounting platform Tight, outlines six practical tactics to preserve profitability while keeping customers loyal. Strategies include a transparent temporary fuel surcharge,...
Reimagining Finance Operations: LiveFlow’s Lasse Kalkar and Anita Koimur on Building an AI-Native ERP for Continuous Close
LiveFlow unveiled Flow, an AI‑native ERP built for continuous‑close finance operations. The platform unifies accounting, consolidation, and planning while delivering real‑time data across multi‑entity, multi‑currency organizations. Flow’s one‑click, transaction‑level migration can move legacy data in a day, eliminating the typical...
GM CFO: Lower EV Growth Presents Opportunity
General Motors CFO Paul Jacobson said a slower electric‑vehicle growth rate in 2026 gives the automaker a chance to extract more cost savings. GM logged $6 billion in EV‑related charges in Q4 2025, including a $1.8 billion non‑cash impairment and $4.2 billion cash...
Survey: GPs Grapple with Fund Finance Frictions
A new survey by Private Funds CFO reveals that general partners (GPs) are encountering significant frictions in fund finance. Sponsors express frustration over heavy information requirements and the cumbersome process of comparing lending term sheets. The study indicates that redundant...
S&P Threatens Downgrade Unless Funds Cap Redemptions
S&P to Cliffwater: if you keep honoring redemptions above 5%, we might downgrade you. So the choice is: gate your investors and keep your rating, or pay your investors and lose it. The product design is now working against itself.
IIA Calls on Congress to Modernize SOX Act
The Institute of Internal Auditors (IIA) has issued a policy paper urging Congress to modernize the Sarbanes‑Oxley Act. It recommends formally defining internal audit within the law, updating compliance expectations for Sections 302 and 404, and strengthening coordination between internal...
10-Year TIPS Reopening Gets Real Yield of 1.896%
The Treasury announced a reopening of the 10‑year TIPS auction, delivering a real yield of 1.896%. The yield jumped noticeably, signaling heightened market sensitivity ahead of the weekend. Investors appeared reluctant to hold positions, prompting some traders to sit out...
NBIS Holds $1.3B in Future Customer Pre‑Payments
"$NBIS is not getting customer Pre-Payments." Just because they didn't announce it doesn't mean they aren't. Clues are in the balance sheet. $1.6B in deferred revenues. $1.3B of that is non-current, revenues that won't be recognised in the next 12 months. Customers paid $NBIS $1.3B...
EU and UK Listings Now Live on Fiscal AI API
I am thrilled to announce all EU and UK listings are now live in the @fiscal_ai API. They roll into the Terminal shortly. The complexities of making this happen, the edge cases, the quality control, the source material ... extremely hard. So proud...
Zoho Books Review: Affordable, Easy-to-Use, but Is It the Best Choice in 2026?
Zoho Books is positioned as the top accounting solution for UK sole traders and micro‑businesses, highlighted by its completely free plan and intuitive interface. The platform offers six pricing tiers, scaling from a free tier to a £199‑per‑month Ultimate plan,...