FEI Weekly

July 3, 2020

3 ways to stand out in a virtual work environment and Microsoft picks new chief accounting officer.

The Facebook Boycott Could Decide the Fate of Digital Advertising

Inc.

Facebook is under extraordinary pressure as it grapples with the way it handles incendiary, misleading, and often outright racist content. Right now, consumers are thinking about it as they become more aware of whether or not the brands they love are associating themselves with "hate." The #stophateforprofit campaign now has 400 companies that have pledged not to advertise on Facebook or Instagram during the month of July, with others committing to pause social media advertising altogether. Already, the Covid-19 pandemic has made it difficult for advertisers to continue to spend money with so much economic uncertainty.  

Wirecard: Who's to Blame?

Reuters

As a financial technology firm, albeit one that owned a bank, Wirecard was long considered as being in a grey area when it came to traditional banking supervision - and that ambiguity is being seized on by various authorities to shift the blame. Germany’s financial regulator BaFin has been quick to say that central banks also had a say in how Wirecard was supervised while the company’s home state of Bavaria has said it was not responsible either because Wirecard was not a financial firm. Following allegations of fraud in a report published in 2016, the authorities twice discussed whether to tighten supervision of Wirecard but took no action.

Microsoft Announces New Chief Accounting Officer

Compliance Week - Paywall

Microsoft disclosed in a regulatory filing the appointment of Alice Jolla as corporate vice president and chief accounting officer, effective July 31. Jolla will replace Corporate Vice President, Finance and Administration and Chief Accounting Officer Frank Brod, who is retiring from his position. Brod will step down from his role as chief accounting officer on July 31 but will remain with the company through Sept. 30 to assist in transition.

PG&E Emerges From Bankruptcy

Fox Business

Utility PG&E Corp said on Wednesday it had emerged from bankruptcy, marking an end to a long-drawn restructuring process which began after its equipment sparked some of the deadliest wildfires in California. The completion of bankruptcy proceedings sets up the embattled company to tap a state-backed fund that would help power utilities cushion hits from wildfires. PG&E said it deposited about $5 billion in the wildfire fund.

3 Ways To Stand Out In A Virtual Work Environment

Glassdoor

Here are three ways to stand out while working from home: Prep ahead of time for team meetings and syncs, be sure to practice transparent and concise communication, and pitch new ideas and projects outside of routine tasks.