The World Economic Forum released its Global Risks Report for 2024, and we’ll cut to the chase: It doesn’t look good—but that just means there’s work to be done.

You can probably already guess the primary culprits, but CFOs need to take note: Many of the risks highlighted by the report are existential problems requiring international cooperation, but they’re also improvable with the help of the C-suite, albeit on a smaller scale.

The report draws on a survey of over 1,500 academic, business, and government leaders, plus 200 risk specialists. Notably, respondents were surveyed between September and October 2023, right on the cusp of the Israel-Hamas war. In the next two years, 54% of respondents expect “some instability and a moderate risk of global catastrophes,” and 30% anticipate “even more turbulent conditions,” per the report. And looking forward, almost two-thirds of survey respondents forecast “a stormy or turbulent outlook” in the next 10 years.

We told you. It’s not pretty.

Continue reading about the biggest risks businesses may face.—NP

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Much like CFOs, tax leaders have seen their roles shift over the past few years. They’ve come to focus more on strategy and less on day-to-day operations, and they’ve also had to manage a more complex regulatory and business environment.

Ken Kuykendall, US tax leader and tax consulting leader at PwC, spoke with CFO Brew about how CFOs can partner more closely with tax leaders and help them meet the demands of their changing roles.

This interview has been lightly edited for length and clarity.

What are some areas where tax leaders can help drive strategy?

In today’s world, almost every organization is looking at digitizing products or solutions, or creating new products and solutions that are digital. All those things have massive tax ramifications to think through, and different ways of structuring them can create different sorts of tax incentives. How do you tax the transfer of digital products or solutions? Where is intellectual property being created?

For more on how tax leaders are taking on a more strategic role, click here.—CV

Coworking is a weekly segment where we talk to CFOs and other leaders in the finance space about their experiences, their companies, and the larger economy. This week, we’re featuring one of our own! Let us know if you are—or you know—a CFO we should interview.

Alex Zank recently joined the CFO Brew team. Since readers will be hearing a lot from this Wisconsin-based reporter in the coming days, we’d like to introduce him to you.

This interview has been edited for length and clarity.

What are the CFO Brew beats you’re most excited to cover?

Before joining CFO Brew, I covered the insurance space for approximately two years. This means that I bring with me the knowledge and excitement of covering risk management and compliance topics. Readers can expect me to produce in-depth content examining any imaginable angle in those coverage areas.

What’s your advice for surviving the cold Wisconsin winter?

As a lifelong Wisconsinite, I am a strong believer in the saying, “There’s no such thing as bad weather, only bad clothing.” You can’t let the cold weather prevent you from enjoying the outdoors. The key to dressing for the cold is to wear lots of layers, and not solely rely on a bulky jacket. For especially cold days, consider bundling to the point that you resemble Ralphie’s brother, Randy, in A Christmas Story.

Get to know Alex better by clicking here.—DA

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Today’s top finance reads.

Stat: 29%. That’s how much consumer sentiment has risen since November, the biggest two-month jump in 33 years. A strong job market and easing inflation are boosting consumers’ feelings about the economy, according to the University of Michigan’s Consumer Survey. Let’s go, economy! (the Wall Street Journal)

Quote: “Google really was a magical place, not very long ago. And for some reason, executives are cashing out their human capital at the very moment it seems to me like they really need it. Who can be dawn-of-a-new-era-of-humanity creative in this environment of fear?”—Diane Hirsh Theriault, a Google software engineer, writing on LinkedIn about recent layoffs at the tech giant (LinkedIn)

Read: Governments are wrestling with a question: Should AI be regulated now or after its impacts become clear? (BBC)

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