• Business Accounting

    Accounting Firms Scoop Up Virtual Land in the Metaverse

    Accounting firms are following the example set by other companies to launch operations in the metaverse, a digital space where players simulate real-life activities from shopping to gaming to business consulting. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Businesses across industries, including real estate, technology and cryptocurrency, have been purchasing digital land on platforms such as Decentraland and the Sandbox. Executives have started drafting business plans for operating in those virtual worlds, which are typically conceived by videogame developers. Prager Metis International LLC, a New  

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  • Business Accounting

    Pair of accounting firms announce merger | Business Observer

    NAPLES — Capital Care Group Certified Public Accountants, an accounting, tax, and financial planning services firm with two offices in Southwest Florida, has merged with Fort Myers-based accounting firm Wallace & Associates. The firms joined forces in December, according to a statement. Terms of the deal weren’t disclosed. “We are excited to have Gary and the entire team at Wallace & Associates join us,” Capital Care Group Managing Partner Steven Phillips says in the release. “By adding this impressive team of professionals, we can better position our clients to achieve financial stability and growth with a newly extended network of  

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  • Finance

    Spreading the wealth: Black-owned investment firms tackle the racial finance gap | Small business

    Black investors have long been underrepresented in the stock market; only 33.5% of Black American households owned stocks in 2019, according to Federal Reserve data. But that’s beginning to change. Across the country, a new generation of young Black wealth managers are launching firms that aim to make investing accessible within the Black community – and in the process, to help close the racial wealth gap across generations. “We all need education, access, and tools to be successful, and those were things that weren’t always accessible to us,” says Calvin Williams, founder of Freeman Capital. The Charlotte, North  

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  • Business News

    China’s economy and businesses have been chilled by a year-long crackdown. It may have to cut firms some slack

    One day later, it all fell apart. In the year that followed, the Chinese government’s regulatory might has changed industries ranging from tech and finance to gaming, entertainment and private education. But the speed and ferocity with which Chinese authorities have acted against the country’s corporate titans have startled even the closest China watchers. “The latest regulatory tightening cycle is unprecedented in terms of duration, intensity, scope, and velocity,” analysts from Goldman Sachs wrote in a recent research report. The campaign has wiped out more than $1 trillion worldwide from the market value of Chinese companies. It has sent chills  

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  • Financial Management

    Wealth Management Firms Address Systemic Racism

    With over 1,800 attendees, panelists representing the wealth management industry addressed systemic racism and its consequences for Black investors at the inaugural Black Wealth Summit, a three-day virtual event. Participants included speakers from Morgan Stanley, Raymond James, Charles Schwab, JPMorgan Chase and Bank of America, all of which addressed cultural and systemic factors they saw as obstacles to the generation of wealth by Black Americans, particularly intergenerational wealth.  Between sessions on Black wealth creation, event planners layered fireside chats on entrepreneurship, workshops on social media and education around behavioral finance alongside virtual networking opportunities. The event, which concludes on Friday,  

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