Financial reporting: The widening shortage of accountants has begun showing up in financial statements, The Wall Street Journal reports. U.S.-listed companies such as Advance Auto Parts, Joby Aviation and Evotec in recent months have disclosed efforts to address material weaknesses due at least in part to a lack of accounting staff. Read the full story.
Topping $1B: Saudi Arabia’s sovereign wealth fund has agreed to invest more than $1 billion in a new commercial entity controlled by the PGA Tour, and Greg Norman will be ousted as the CEO of LIV Golf if the business deal between the Saudis and the tour is finalized, a tour executive told Congress on Tuesday. The agreement between the Saudi Public Investment Fund, the primary funder of LIV Golf, and the PGA Tour shocked the golf world when it was announced last month and led to probes by the Permanent Subcommittee on Investigations, which summoned tour officials to the Capitol to testify under oath. Read the full story.
Acquired by Walgreens: Brookshire Grocery Co. announced today it has entered into an agreement with Walgreens in which the nationally recognized chain will acquire BGC’s 120 pharmacies in Texas, Louisiana and Arkansas, which includes pharmacy customer prescription files and related pharmacy inventory. Read the full story from USA Today Network.
