Kroger has lifted its full-year sales guidance, even though second-quarter profit and overall sales came in beneath consensus forecasts. Revenues rose 0.2% to $33.91bn, helping it to $466m in earnings. Analysts polled by FactSet had expected sales of $34.09bn and a $538.7m profit. Like-for-likes grew 1.2%, while digital sales rose 17%. The company now expects…

Cloud services and private networks, which for years have been designed to cope with data measured in gigabytes and terabytes, will need to be adapted in the months and years to come to deal with petabytes and exabytes. Some companies, including CoreWeave and VAST Data, have already begun trying to develop the next generation of…

Seven public companies, in industries ranging from healthcare to software, will pay a total of $3m in fines for requiring employees to sign agreements containing provisions that impeded their ability to report misconduct to the SEC. The companies are alleged to have utilized “employment, separation, and other agreements that violated rules prohibiting actions to impede…

Apple has been told to pay a €13bn ($14.35bn) tax bill following a ruling by the European Court of Justice (ECJ). The European Commission had previously ordered Apple to repay this amount in 2016, citing that Irish tax arrangements had “artificially” lowered Apple’s tax burden, violating state aid rules. Despite appeals from both Apple and…

The Public Company Accounting Oversight Board (PCAOB) published a report Monday detailing how, during 2022 and 2023, several firms’ engagement teams working on audits in the banking sector did not adequately identify the risks of material misstatement ahead of the implosion of several banks, such as Silicon Valley Bank and Signature Bank. As they reviewed the…

The Massachusetts Society of CPAs, in collaboration with several other CPA organizations, has published the 2024 Corporate Finance Report titled “CPAs in the C-Suite: Most Wanted Competencies for Finance Leaders.” The report, based on a survey of over 320 hiring executives, highlights essential skills for aspiring chief financial officers in a changing business environment. Zach…