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Corporate bankruptcies are surging, with 117 large firms filing in the past year — a 44% rise over the long-term average — including 32 “mega bankruptcies” with over $1bn in assets. This wave of distress spans multiple sectors and is driven by refinancing pressures, inflation, and weakening demand. CFOs are advised to spot early warning signs including late payments, erratic ordering, credit downgrades, and executive turnover. Proactive steps include assessing exposure, tightening credit terms, strengthening internal monitoring, and reviewing contractual rights. Early action and legal advice are key to minimizing losses if a customer files for bankruptcy.

 

CFO

Turn Mandates Into Advantage

Global e-invoicing mandates are reshaping tax compliance faster than many finance teams can adapt. Governments are demanding real-time transaction reporting, and fragmented compliance strategies are quickly becoming unmanageable. For CFOs, this shift is not just another regulatory hurdle - it’s a chance to gain control, speed, and accuracy across every jurisdiction.

This white paper explains how the rapid global rollout of e-invoicing and continuous transaction controls (CTCs) is changing the compliance landscape. It shows how centralized, technology-led approaches deliver automation, scalability, and visibility that siloed systems can’t match. With the right platform, companies can turn compliance into a competitive edge - reducing risk while improving efficiency and insight.

See how Vertex helps global enterprises stay ahead of evolving mandates and operate with confidence in an increasingly connected tax environment.

Download the white paper to stay compliant and competitive.

 

U.S. prosecutors have accused three cybersecurity professionals of running a ransomware operation in collaboration with the hacking group ALPHV BlackCat, targeting companies across the U.S. and attempting to extort millions in cryptocurrency. Two of the accused, Ryan Goldberg and Kevin Martin, face charges, with Goldberg already detained and Martin pleading not guilty; the third accomplice remains unnamed. Both of their employers, DigitalMint and Sygnia, have said that they had no prior knowledge of the illicit activities. DigitalMint emphasized its cooperation with the investigation.

 

Reuters

Palantir has lifted its 2025 revenue guidance, with Peter Thiel’s data intelligence company notching up rapid growth in sales to companies and the U.S. government in the third quarter. Revenues increased 63% to $1.18bn in the period ended in September, the company said Monday in a statement. Analysts, on average, estimated $1.09bn. In the current quarter, sales will be about $1.33bn, compared with an average projection of $1.19bn. “We are in a nosebleed zone,” Palantir chief executive Alex Karp said in an interview Monday. “No one else is here.”

 

Bloomberg

Financial Times

PacifiCorp, the utility owned by Berkshire Hathaway, has warned of potential liquidity issues and the risk of losing its investment-grade status due to claims amounting to $55bn from victims of the 2020 wildfires in Oregon. A judge's decision to accelerate the trial schedule could exacerbate financial strain, with PacifiCorp indicating that this pressure might hinder its ability to secure necessary funding for operations. The utility has already set aside $2.85bn for these lawsuits, admitting it cannot serve as an "insurer of last resort" while also emphasising its commitment to maintaining electrical service during wildfire threats.

 

Reuters

The S&P Global U.S. Manufacturing PMI rose to 52.5 in October from a final reading of 52.0 in the prior month, slightly ahead of the 52.2 expected by economists, and remaining in expansionary territory. “U.S. manufacturers reported a solid start to the fourth quarter with production rising at an increased rate in response to an encouragingly robust jump in new orders," commented Chris Williamson, chief business economist at S&P Global Market Intelligence. "However, lift the hood and the picture is not so healthy. Most worrying is the unprecedented rise in unsold stock reported in October, widely linked to weaker than anticipated sales to customers, especially in export markets, which could trigger a downshifting of production in the coming months unless demand revives. Companies have also become less optimistic about the year ahead, with sentiment back down close to the gloomy levels seen around the April tariff announcements." A separate report from the Institution for Supply Management (ISM) found that manufacturing activity contracted last month. The ISM manufacturing PMI slipped to 48.7 in October after edging up to 49.1 in September. The production index dropped 2.8 points to 48.2, while the new orders index rose half a point to 49.4, and the employment index grew to 46, from 45.3 in September.

 

Investing

Seeking Alpha

Advisor Perspectives

RTT News

Chief financial officers are moving away from traditional cash flow dashboards to adopt Time to Cash, a real-time metric that enhances liquidity management. This shift allows finance teams to predict issues before they arise, leveraging automation and AI for improved forecasting. The PYMNTS Intelligence report “Time to Cash: A New Measure of Business Resilience” highlights that companies utilizing these modern tools are not only surviving volatility but also turning it into growth opportunities. As Raj Seshadri, chief commercial payments officer at Mastercard, observed: “There's a continuous evolution and . . . dynamic disruption in finance that requires CFOs to harness data and AI.”

 

PYMNTS

KPMG is to evaluate how employees use AI tools during annual performance reviews. Niale Cleobury, KPMG's global AI workforce lead, said the firm is already monitoring AI usage through tools like Microsoft's Copilot. Starting in 2026, staff will be assessed on their achievement of AI objectives. “We all have a responsibility to be bringing AI to all of our work," Cleobury said.

 

Bloomberg Tax

A federal judge has ruled that 36 drugmakers, including Pfizer, Perrigo, and Sandoz, must face most claims in a multistate antitrust lawsuit accusing them of fixing prices for 80 generic drugs, mainly for skin conditions. Chief Judge Michael Shea rejected arguments that states filed too late, citing evidence companies concealed collusion between 2009 and 2016. The case continues in Connecticut federal court.

 

Reuters

Approximately 60,000 residential customers in New Jersey are set to receive a $4.9m settlement related to a class action lawsuit against Middlesex Water Co. and 3M for violations concerning the presence of the toxic "forever chemical" PFOA in their drinking water. The settlement, announced on October 3, aims to reimburse individuals for costs incurred while avoiding contaminated water, a response to reports from October 2021 that the water supply exceeded state contaminant limits. Lead attorney Stephen DeNittis described this agreement as potentially setting a precedent for similar cases nationwide, offering compensation for those who incurred out-of-pocket expenses due to water quality issues.

 

Inside Climate News

Grant Thornton Advisors has agreed to add Grant Thornton New Zealand to its private equity-backed multinational platform, extending its presence into the Asia Pacific region. The New Zealand firm generates over $40m in revenue and employs more than 300 people. The deal is expected to complete later this year. 

 

Bloomberg Tax

Accounting Today

International Tax Review

OpenAI has signed a seven-year $38bn deal with Amazon Web Services, the latest in a string of agreements struck by the lossmaking start-up as it races to secure computing power. The additional computing power will help OpenAI build and deploy its artificial intelligence technologies, including the ChatGPT chatbot. The deal comes shortly after OpenAI renegotiated its services contract with Microsoft to allow it to purchase services from any cloud computing company without Microsoft’s approval. OpenAI has struck a series of major deals this year to expand its computing resources with companies including Nvidia, AMD, Oracle, Broadcom, Google and Samsung.

 

CNBC

Financial Times

New York Times

Reuters

Since Paul Atkins took over as chair of the SEC in April, and Erica Williams resigned as chair of the PCAOB in July, enforcement actions against audit firms have significantly decreased. A report from The Brattle Group reveals that the SEC initiated only one enforcement action in the first nine months of 2025, marking the lowest level since 2024. The PCAOB, however, initiated 32 actions, primarily before Ms. Williams's departure. The report highlights that “the first three quarters of 2025 were a period of transition for auditor enforcement,” according to Alison Forman, co-Leader of Brattle's accounting practice. Looking ahead, both the SEC and PCAOB are expected to focus more on audits of foreign-issuer clients, indicating a shift in enforcement priorities.

 

CPA Practice Advisor

Alaska Airlines has announced a partnership with Accenture to audit its IT systems following a global outage that impacted Microsoft’s Azure platform, grounding flights and affecting over 49,000 passengers. The disruption led to the cancellation of more than 400 flights, prompting the airline to reassess its fourth-quarter financial outlook, which will be updated in early December. The incident comes on the heels of Alaska Air lowering its annual profit forecast due to soaring fuel costs, highlighting ongoing operational challenges for the airline.

 

Reuters

ExxonMobil CEO Darren Woods says the U.S. energy giant will not be able to continue operations in the European Union if the bloc does not revise the Corporate Sustainability Due Diligence Directive, a sustainability law that could impose fines of 5% of global revenue. The law mandates companies doing business in the EU to identify and address human rights and environmental risks throughout their supply chains. "If we can't be a successful company in Europe, and more importantly, if they start to try to take their harmful legislation and enforce that all around the world where we do business, it becomes impossible to stay there," Woods said.

 

Reuters

Starbucks is entering a joint venture with Boyu Capital, a Chinese investment firm, to enhance its operations in China. Boyu will invest $4bn for a 60% stake in Starbucks' retail business in the country, while Starbucks retains a 40% interest and continues to own the brand. With 8,000 locations, China is Starbucks' second-largest market after the U.S. However, the company has faced challenges from local competitors like Luckin Coffee. Starbucks chair and chief executive Brian Niccol mentioned that the company was considering around 20 offers for a stake to boost its growth, particularly in smaller cities.

 

CNN

Financial Times

New York Times

Reuters

US News and World Report