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Parafin, launched in 2020, works with so-called platform partners, or companies that other small businesses sell their products through. All the cofounders knew was that they wanted to build technology that would help small businesses. And they may not get their first contract payment from the government for as long as 120 days," Reed, the startup's CEO, told Insider. Helping small businesses manage their taxesComplYant's founder Shiloh Jackson wants to help people be present in their bookkeeping. HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.

☆ Sen. Bernie Sanders urges Moderna not to hike price of Covid-19 vaccines
▼ + stars: | 2023-01-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Sen. Bernie Sanders on Tuesday urged Moderna not to quadruple the price of its Covid-19 vaccine once distribution of the shots moves to the commercial market. In a letter to Moderna CEO Stephane Bancel, Sanders called the price increase "outrageous." Private health insurance premiums would also rise as a consequence of a vaccine price hike , Sanders wrote. Pfizer is also considering raising the price of its Covid vaccine to $110 to $130 per dose. Moderna's Covid vaccine is the company's only commercially available product.

[1/3] U.S. Air Force F-35 Lightning IIs fly side by side with Republic of Korea Air Force F-35s as part of a bilateral exercise over the Yellow Sea, Republic of Korea, July 12, 2022. OTTAWA, Jan 9 (Reuters) - Canada finalized a deal to buy 88 F-35 fighter jets from U.S. defense company Lockheed Martin Corp (LMT.N) on Monday in a C$19 billion ($14.2 billion) project to replace its aging fleet of fighter aircraft. Anand said it was the largest investment in the Royal Canadian Air Force in 30 years. The F-35 fighter announcement coincides with Prime Minister Justin Trudeau's trip to Mexico on Monday for the North American leaders' summit where he will meet U.S. President Joe Biden. Canada is part of a consortium that helped develop Lockheed Martin's F-35 and Ottawa will pay the same amount for the aircraft as the other participants, including the United States.

☆ Amid the largest layoffs in Big Tech history, startups are having unprecedented success hiring top talent. But founders are still skeptical about hiring Big Tech employees.
▼ + stars: | 2023-01-06 | by ( Rosalie Chan | Katie Malone | ) www.businessinsider.com time to read: +7 min

Startups have had unprecedented success hiring top tech talent upending a decades long power imbalance. Suddenly, several thousand quality tech workers were job hunting, and it didn't seem like Big Tech would be hiring them back anytime soon. But lately, things have been changing, and his startup has become more attractive to former Big Tech workers, he said. "Just because they come from Big Tech companies does not mean they're quite suitable for my needs." Still, recruiters told Insider, startups rarely judge tech workers solely on whether they've worked at a Big Tech company or a startup.

☆ China, Philippines agree to handle disputes 'peacefully', boost cooperation
▼ + stars: | 2023-01-05 | by ( Yew Lun Tian | ) www.reuters.com time to read: +3 min

BEIJING, Jan 5 (Reuters) - China and the Philippines said in a joint statement on Thursday they have agreed to set up a direct communications channel between their foreign ministries on the South China Sea to handle disputes peacefully. The Philippines has previously raised concerns over reported Chinese construction activities and the "swarming" of Beijing's vessels in disputed waters of the South China Sea, an area rich in oil, gas and fishery resources. Both sides also agreed to resume talks on oil and gas exploration in the South China Sea and discuss cooperation on areas including solar, wind, electric vehicles and nuclear power. Coastguards from China and the Philippines would also meet "as soon as possible" to discuss "pragmatic cooperation". Last November, when debris from a Chinese rocket fell in the South China Sea, a Chinese coastguard ship had stopped a Philippine boat from trying to tow it away.

☆ Execs from top firms like Morgan Stanley and Vanguard share tips for how to cut costs when moving to the public cloud
▼ + stars: | 2023-01-05 | by ( Carter Johnson | Bianca Chan | ) www.businessinsider.com time to read: +8 min

When Vanguard first made a push into the public cloud, Michael Carr, the firm's chief technology officer, knew realizing savings was a key part of the move. Collaboration is keyAs with most technology applications, there's a human behavior element to cloud cost savings. At Capital One, it took years to build a culture of collaboration between technology and finance teams within the bank's centralized cloud expense management division, Johnston said. Before, the finance team would send the tech team an aggregate bill at the end of each month and "that was kind of the end of the story," Johnston said. Speaking the same language has instilled a greater sense of empathy across different teams, like finance, technology, business, and others.

Food and fertiliser subsidies alone account for about one-eighth of India's total budget spending of 39.45 trillion rupees this fiscal year, but reductions in food subsidies in particular may prove politically sensitive with elections looming on the horizon. The government expects to budget around 2.3 trillion rupees for food subsidies in the coming fiscal year, compared with 2.7 trillion rupees for the current year to March 31, the two officials said. Spending on fertiliser subsidies will likely fall to about 1.4 trillion rupees, according to one of the officials and a third government official. That compares with nearly 2.3 trillion rupees this year, the third official added. The finance ministry declined to comment, while the food and fertiliser ministries did not immediately reply to requests for comment.

☆ Russia freezes Linde assets worth $488 mln
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +1 min

RusKhimAlyans, the joint venture which is 50% owned by Russia's Gazprom (GAZP.MM), asked the Court of Arbitration of St Petersburg and the Leningrad Region to freeze Linde assets worth 35 billion roubles ($488 million) as a preventative measure. In 2021, Linde and Renaissance Heavy Industries signed an engineering, procurement and construction (EPC) contract with Gazprom and its partners for the Ust-Luga gas complex. Linde notified the customer in May and June 2022 that it had suspended work under the contract due to European Union sanctions imposed after Russia's invasion of Ukraine. RusKhimAlyans intends to apply to the Hong Kong International Arbitration Centre to recover advance payment and losses worth around 972 million euros ($1 billion) and 7.6 billion roubles, according to the court filings. ($1 = 71.7830 roubles)($1 = 0.9360 euros)Reporting by Reuters Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Biden tax credits aim to jolt electric delivery truck demand
▼ + stars: | 2022-12-29 | by ( Lisa Baertlein | ) www.reuters.com time to read: +3 min

The first-of-its-kind incentives, established under President Joe Biden's Inflation Reduction Act (IRA), will offer tax credits of $7,500 or $40,000 depending on the size of the electric vehicle (EV). The IRA's commercial EV credits do not have "made in the USA" rules that apply to passenger cars. That will "help level the playing field for electric vehicles," said Ben King, associate director at Rhodium Group, a research firm. Jim Farley, chief executive at electric van market leader Ford Motor Co (F.N), this year predicted that IRA tax credits would have a "dramatic impact on the adoption of EVs." More commercial EV purchases should lower manufacturing costs and vehicle sticker prices - which should attract even more buyers, experts said.

☆ S.Korea's Yoon orders revamp of response to violations of country's air space
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +2 min

SEOUL, Dec 29 (Reuters) - South Korea's President Yoon Suk-yeol ordered a revamp of the military's response to objects violating its airspace, his office said on Thursday, after an intrusion by North Korean drones exposed its difficulty in shooting down small aircraft. Five North Korean drones crossed into South Korea on Monday, prompting South Korea's military to scramble fighter jets and attack helicopters, though it failed to bring down the drones, which flew over South Korea for hours. "North Korean drones' intrusion of our airspace is an intolerable incident," Yoon said. The military apologised for its response, and said it could not shoot down the drones because they were too small. "Our military will conduct joint air defence drills ... simulating response to enemy's small-sized unmanned aircraft," a JCS spokesperson told a regular briefing.

☆ Japanese firms sign multi-year agreements to buy LNG from Oman, U.S.
▼ + stars: | 2022-12-27 | by ( Yuka Obayashi | ) www.reuters.com time to read: +3 min

Global LNG supply has been tight since Russia invaded Ukraine and cut gas supply flows to Europe, leading European nations to import record amounts of LNG cargoes, straining global supplies and elevating prices. Mitsui and Itochu confirmed signing basic agreements with Oman LNG, but declined to give details. Other Japanese companies were also in talks with Oman LNG about term contracts, a government official told Reuters without naming the firms. If successful, they could take Japan's LNG imports from Oman above 3 million tonnes a year, he added. The agreements with Oman LNG were signed during a visit to Oman by Japanese industry minister Yasutoshi Nishimura.

☆ A New Year’s Resolution for Stemming Retail’s Returns Tsunami
▼ + stars: | 2022-12-26 | by ( Alan Amling | Thomas Golds | ) www.wsj.com time to read: +6 min

So why haven’t retailers taken significant steps to improve the returns process and stop it from imploding their profitability? Photo illustration: Laura KammermannThe first step in solving the problem is to appoint an executive responsible for the end-to-end returns process. Researchers at the University of Tennessee have broken the returns process into five “pathways” to help returns executives better understand improvement opportunities. The best way to mitigate returns costs, of course, is to find ways to limit returns before they happen, in the pre-sale process. As goods move through the returns process, costs and waste increase dramatically.

☆ China expresses "resolute opposition" to U.S. defense act - statement
▼ + stars: | 2022-12-24 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Dec 24 (Reuters) - China's Ministry of Foreign Affairs on Saturday expressed "strong dissatisfaction and resolute opposition" towards the U.S. National Defense Authozisation Act, which was signed into law by U.S. President Biden the day before. China considers Taiwan its territory and has never renounced using to force to bring the island under its control. The bill also contained an amendment restricting U.S. government purchases of products using computer chips made by a specific group of Chinese companies. "The case ignores the facts to exaggerate a 'China threat', wantonly interferes in China's internal affairs, and attacks and smears the Chinese Communist Party, which are serious political provocations to China," the ministry wrote. Reporting by Josh Horwitz; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ North Korea has delivered rockets, missiles to Russian Wagner Group mercenaries for use in Ukraine, White House says
▼ + stars: | 2022-12-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | Courtney Kube | ) www.nbcnews.com time to read: +3 min

North Korea has delivered rockets and missiles to the Russian private military company known as the Wagner Group for use in Ukraine, according to White House National Security Council spokesperson John Kirby. “Today we can confirm that North Korea has completed an initial arms delivery to Wagner, which paid for that equipment. Last month, North Korea delivered infantry rockets and missiles into Russia for use by Wagner,” he said Thursday. There are likely to be more actions, like sanctions, taken against the Wagner Group in the coming days, Kirby said. After the White House said North Korea had supplied arms to the Wagner Group, British Foreign Secretary James Cleverly said, “The U.K. supports the U.S. assessment that North Korea has completed an arms delivery to Russia for use by the Wagner Group, which paid for this equipment and has thousands of troops in Ukraine.

☆ India tweaks gas procurement norms for fertiliser units - sources
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, Dec 22 (Reuters) - The Indian government has tweaked the gas procurement policy for fertiliser companies, enabling them to purchase about a fifth of their gas needs through spot markets, two government sources told Reuters. Reporting by Sarita Chaganti Singh in New Delhi; Editing by Krishna N. DasOur Standards: The Thomson Reuters Trust Principles.

☆ Why North Korea’s missile tests are going higher and further
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +14 min

North Korea missiles Stronger, faster, higher North Korea has made steady progress in expanding its missile programme, developing weapons that can strike across the globe - or hit critical targets closer to home. North Korea has forged ahead in developing ballistic missiles, testing new capabilities, honing existing weapons and putting them into service. Like most North Korean long-range ballistic missile tests, both ICBMs were fired on lofted trajectories. Trajectories of some of North Korea’s long-range missile testsNuclear warheads South Korea and the United States have warned since early 2022 that North Korea may resume nuclear testing for the first time since 2017. Same missiles, different locationsAmong North Korea's ballistic missiles, SRBMs appear to be the most likely to be deployed, Panda said.

☆ Porsche begins production of 'e-fuel' that could provide gas alternative amid EV push
▼ + stars: | 2022-12-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Porsche and several partners have started production of a climate neutral "e-fuel" aimed at replacing gasoline in vehicles with traditional internal combustion engines. The German automaker, owned by Volkswagen , said Tuesday that a pilot plant in Chile started commercial production of the alternative fuel. By mid-decade, Porsche is planning to produce millions of gallons of the e-fuel. Plans are to expand that to about 55 million liters (14.5 million U.S. gallons) by mid-decade, and around 550 million liters (145.3 million U.S. gallons) roughly two years later. Porsche officials celebrated the beginning of the e-fuel production with the filling of a Porsche 911 with the first synthetic fuel produced at the site.

[1/4] Italy's Defence Minister Guido Crosetto poses for a picture during an interview with Reuters, in Rome, Italy, December 16, 2022. Defence Minister Guido Crosetto, a co-founder of Prime Minister Giorgia Meloni's Brothers of Italy party, said Rome would make a final decision on how much to invest in the multi-billion-dollar project after more details had been defined. Crosetto said there should be no bar on joining forces with the rival European programme, adding that the GCAP should also aim to find new partners, especially within Europe. Italy has never disclosed details of its shipments, but Crosetto confirmed that Kyiv had requested air-defence systems, including the Franco-Italian SAMP/T. He added that Italy was also open to suggestions for joint procurement by the EU Defence Agency.

☆ 23 major brands suspected of illegally sourcing products made by forced labor in China
▼ + stars: | 2022-12-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

And more ...Mary Meisenzahl/InsiderThese companies have also been suspected of having direct or indirect ties to Chinese forced labor in the aforementioned reports. Bosch"Bosch is committed to ensuring that its products are not produced wholly or in part by forced labor. "Compliance with human rights, labor rights and environmental standards is a top priority at PUMA and has been specified in our Codes of Conduct for over 20 years." As stated in our Business Conduct Guidelines, we reject all forms of oppression, forced labor and participation in human rights violations. We will continue to respect human rights and take a strong stand against forced labor."

☆ Wall Street's shift to the public cloud hasn't come cheap. From dashboards to automation, here's how firms like Morgan Stanley and Vanguard are keeping costs down while using the tech.
▼ + stars: | 2022-12-16 | by ( Carter Johnson | Bianca Chan | ) www.businessinsider.com time to read: +8 min

But the pay-as-you-go subscription model associated with the cloud can also lead to higher expenses when usage goes unchecked. Collaboration is keyAs with most technology applications, there's a human behavior element to cloud cost savings. At Capital One, it took years to build a culture of collaboration between technology and finance teams within the bank's centralized cloud expense management division, Johnston said. Before, the finance team would send the tech team an aggregate bill at the end of each month and "that was kind of the end of the story," Johnston said. Speaking the same language has instilled a greater sense of empathy across different teams, like finance, technology, business, and others.

☆ U.S. Senate passes record $858 billion defense act, sending bill to Biden
▼ + stars: | 2022-12-16 | by ( Patricia Zengerle | ) www.reuters.com time to read: +3 min

REUTERS/Joshua Roberts/File PhotoWASHINGTON, Dec 15 (Reuters) - The U.S. Senate passed legislation on Thursday authorizing a record $858 billion in annual defense spending, $45 billion more than proposed by President Joe Biden, and rescinding the military's COVID vaccine mandate. Senators supported the National Defense Authorization Act, or NDAA, an annual must-pass bill setting policy for the Pentagon, by an overwhelming 83-11 bipartisan majority. AID FOR TAIWAN, UKRAINE AND JUDGESBecause it is one of the few major bills that always passes, lawmakers use the NDAA as a vehicle for a range of initiatives. A bid to amend the bill to award back pay and reinstate troops who refused the vaccine failed. A bill to fund the government through Sept. 30, 2023, - the end of the fiscal year - is expected to pass Congress next week.

☆ India's wheat stocks to fall further but sufficient, government says
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Dec 15 (Reuters) - Wheat stocks in India's government warehouses will fall by about 13% by early next month from current levels but will be sufficient for welfare schemes of the country, the ministry of consumer affairs and food said on Thursday. Wheat stocks in government warehouses for December fell to the lowest in six years, as prices jumped to a record high on rising demand and falling inventories. The statement comes as wheat prices in the country have seen a surge due to a drop in yields. Wheat reserves in state stores fell to 19 million tonnes on Dec. 1 from 37.85 million tonnes a year ago, government data showed. The last time stocks for December were this low was in 2016, when droughts in the previous two years had hit wheat output.

☆ Germany's half-a-trillion dollar energy bazooka may not be enough
▼ + stars: | 2022-12-15 | by ( Christoph Steitz | ) www.reuters.com time to read: +8 min

Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago. The money set aside stands at up to 440 billion euros ($465 billion), according to the calculations, which provide the first combined tally of all of Germany's drives aimed at avoiding running out of power and securing new sources of energy. That equates to about 1.5 billion euros a day since Russia invaded Ukraine on Feb. 24. Energy rationing is a risk in the event of a long cold spell this winter, Germany's first in half a century without Russian gas. There's no security in sight either, with the push to build up of two alternatives to Russian fuel - liquefied natural gas (LNG) and renewables - years away from targeted levels.

☆ Germany approves 10 bln euro F-35 jet deal with U.S.
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Lockheed Martin F-35 aircraft is seen at the ILA Air Show in Berlin, Germany, April 25, 2018. Germany aims to buy 35 F-35 stealth fighter jets in total, including missiles and other weapons and equipment, with the first eight aircraft to be delivered in 2026. The U.S. jet will replace the ageing Tornado, the only German jet capable of carrying U.S. nuclear bombs, which are stored in Germany to be used in case of a conflict. Berlin's decision to buy the F-35 jets, which was announced in March but needed final approval by parliament, upset France. Paris fears the deal could undercut the development of a joint Franco-German fighter jet that is supposed to be ready in the 2040s.

In the mid-1990s, revelations that Israel may have shared U.S. fighter technology with China led Rep. Dave Obey, D-Wisc., to sponsor an amendment banning the not-yet-in-service F-22 stealth fighter from being exported. Unfortunately, this contributed to a negative outcome for the U.S. as well as its potential foreign partners. It’s true some U.S. defense partners maintain significant partnerships with potential military adversaries or may use U.S. arms in objectionable ways. If that happens, it could become impossible to rebuild domestic fighter production capacity fast enough to respond to a crisis. But it’s good for U.S. national security when our allies and partners retain an independent defense technology base rather than allowing their indigenous industries to atrophy.

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