Weekly Ledger 54: Top Stories in Accounting and Finance

Weekly Ledger 54: Top Stories in Accounting and Finance

Top Stories in Accounting and Finance

EY to hire over 14,000 candidates in 2018 — Accounting Today

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Recent grads should take another look at accounting giant Ernst & Young—especially those who majored in one of the STEM fields. Sean McCabe of Accounting Today reports on the firm's ambitious—and paradigm shifting—hiring goals for the upcoming year. Looking to cast an even wider talent net, EY is looking to hire some 14,000 "future-focused" candidates. Those candidates are ones with a background in robotics, AI, cybersecurity, blockchain, and data analytics—a far departure from the stalwart accounting degree.


Goldman Sachs leads $10 million investment round in data startup Crux — Reuters

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In a new twist between the age-old battle of old vs new money, Goldman hedges on the future data economy. Anna Irrera (@annairrera) of Reuters reports on the multinational's recent investment. Crux Informatics, a data analytics company, closed out its series A funding, led by Principal Strategic Investments division—Goldman's investment division that backs young fintech companies. Crux processes data for financial firms, including banks, hedge funds, and private equity groups. Another sign that the next stop for our service economy is in data.

Deutsche Bank's CEO hints that half its workers could be replaced by machines — Quartz

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ATMs have not displaced human bank tellers. Deutsche Bank CEO John Cryan, however, thinks it's about time that finally happens. John Detrixhe (@johndetrixhe) of Quartz reports. Citing an "out of kilter" sales and trading to back office staff ratio, Cryan is confident artificial intelligence along with machine learning tools could realign that ration, making a large part of Deutsche bank's 97,000 human labor redundant. But will Cryan's aggressive response be enough to win back customers?

This Company Added the Word 'Blockchain' to Its Name and Saw Its Shares Surge 394% — Bloomberg

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Mirroring the trend by adding dot-com to a company's masthead—as was oft the case in the late '90s—Essex-based On-line Plc is modernizing the same play by adding "blockchain" to its name. Lisa Pham (@lisapham) of Bloomberg reports. Prices of the (now) "On-line Blockchain Plc" soared as much as 394 percent following the name change. Is this a sign of an impending bubble burst?  

Bjork's new album goes all-in on the blockchain craze — Fast Company

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It seems as though every week another crafty use for blockchain is discovered. And this week it's an Icelandic popstar's turn at the helm. Fast Company reports on the unlikely pairing between Björk and BLOCKPOOL, a blockchain solution provider. Aside from being able to purchase her upcoming album using cryptocurrency (already old hat), fans will also be given 100 "audiocoins," which will enable them to interact with the swan dress-wearing artist. How the technology will pan out has yet to be disclosed.

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