Good morning. An investigation by Chemours has found that the Teflon maker’s top executives shifted cash flows at year-end to hit targets that determined their annual stock and bonus awards, shedding new light on accounting problems that have spooked investors.

The chemical company last week put three leaders—Chief Executive Mark Newman, Chief Financial Officer Jonathan Lock, and Chief Accounting Officer Camela Wisel—on administrative leave and revealed that its board was conducting an accounting review. The revelations sent Chemours’ share price tumbling.

Now the company said the investigation found that the executives took steps to delay payments to some vendors during the fourth quarter of 2023 into the first quarter of 2024. In addition, Chemours said the executives sped up the collection of receivables, so the cash would come into Chemours during the fourth quarter instead of the first quarter.

Chemours said its audit committee found that the executives “engaged in these efforts in part to meet free cash flow targets that the company had communicated publicly, and which also would be part of a key metric for determining incentive compensation.”

📈 Economic Indicators

The BLS releases the jobs report for February.

Federal Reserve Chair Jerome Powell told lawmakers the central bank was “not far” from being able to cut interest rates and that rates were far above levels that might be anticipated during periods of mild inflation and moderate growth.

Powell repeated his view Thursday that the central bank was looking for greater confidence that inflation was returning to its 2% target, but he went one step further during his second day of testimony on Capitol Hill by qualifying how soon the Fed might get there.

• ECB Holds Rates as Central Bankers Weigh Timing of Cuts

• Why did bitcoin soar to a record this week? Fans of the world’s largest cryptocurrency say it is due to old-fashioned laws of supply and demand.
• President Biden used his State of the Union address to promise to protect abortion access, plead for Ukraine aid and criticize Republicans—particularly his once and future opponent, Donald Trump.

📰 Other headlines

• Justice Department to Pay Whistleblowers Who Tip on Corporate Crime
• Rivian Unveils Two, Lower-Priced EVs as It Seeks to Jump-Start Sales
• China Intensifies Push to ‘Delete America’ From Its Technology
• Mike Tyson vs. Jake Paul: Netflix Bets Big on Live BoxingTemu’s
• Temu's Push Into America Pays Off Big Time for Meta and Google
• The Latest in Ride-Booking and Delivery Wars: More Ads in Your Apps

• The SEC approved scaled-back climate disclosure rules, but requirements in Europe and California mean many companies may still have to report so-called Scope 3 emissions.
• Venture capitalists are financing drugmakers seeking to improve upon today’s blockbuster weight-loss medications or combat their side effects.
• Miami Beach is telling spring break travelers to party somewhere else this year.
• Customers of defunct wine marketplace Underground Cellar fought for months to recover their wine. They won, if they are willing to pay up.

Every weekend, we select articles that peel back the layers on a compelling business story or make us look at business in a different light.

• How China came to dominate the world in solar energy, according to the New York Times.
• Three big risks that might tip America’s presidential election, from the Economist.
• How Makiko Ono became one of Japan’s few female CEOs, the Financial Times reports.

The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax accounting, regulation, capital markets, management and strategy.

Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.

You can reach us by replying to any newsletter, or email Walden at walden.siew@wsj.com.