At this time of year, when Americans step on the post-holiday scale and wince, they often end up calling on weight loss companies to help them return to their svelte […]
Sotheby’s CEO William Ruprecht announced his resignation this month, more than a year after a battle between activist investor Daniel Loeb and the auction company’s management began. Loeb, who runs hedge fund Third Point and joined the board earlier this year, is Sotheby’s biggest investor and loudest critic of its growth strategy. Ruprecht has led Sotheby’s for 14 years but, to the influential Loeb and others on the board, represents an obstacle to needed change at the 270-year-old company. Ruprecht will continue as chairman and CEO until a successor is found.
November 10, 2014
In an update last week, D&B Editor Tim Green noted the “explosive” growth of IT services provider Cognizant Technology Solutions. Revenue and profit both rose about 20% in 2013, hitting historic milestones of $8.8 billion and $1.2 billion, respectively. The results come amid increasing demand for offshore IT software and services and business process outsourcing (most of Cognizant’s employees and development centers are in India). The company is seeking long-term growth by targeting the Middle East and Asia/Pacific regions, specifically Japan, India, Australia, and Singapore. Follow Tim on Twitter.
November 17, 2014
Most US accounting firms reported an increase in revenue in 2013, according to a new survey by the American Institute of CPAs and Texas Society of Certified Public Accountants. Firms of all sizes experienced growth in net client fees, ranging from 4 to 8 percent. While recovery from the late-2000s recession continues for the industry, more firms are saving money to invest in the future and prepare for challenges anticipated over the next few years. For more industry trends, see our Accounting Services profile.