Results for: Business

Canada and its allies are considering taking action against China and Indonesia for allegedly manipulating the nickel market. The move comes as Indonesia, with backing from China-based mining companies, has increased its global nickel supply from 7% to 55% in the past decade, leading to a collapse in prices. The oversupply has made it uneconomical for Western mining companies to operate, prompting calls for intervention. Deputy Prime Minister Chrystia Freeland said the behavior of China and Indonesia could be intentional to drive competitors out of business, posing risks to economies and national security.

Intuitive Machines (LUNR) has established a strong competitive position in the burgeoning lunar industry. With the successful completion of its first lunar mission, IM-1, it is the only commercial entity to have proven its capability for lunar landing. The company’s robust order book, financial improvements, and ambitious plans for upcoming missions further solidify its promising outlook.

The lunar industry is poised for significant growth, with various forecasts projecting market sizes in the billions of dollars. IM, with its leadership in lunar communications and mission control infrastructure, is well-positioned to capture a substantial share of this expanding market.

The Senate is poised to pass a multi-billion-dollar foreign aid package that includes measures to potentially ban the Chinese-owned TikTok app, part of a comprehensive funding package for Israel, Ukraine, and Taiwan. The legislation has cleared a key procedural hurdle and is expected to receive final approval soon.

The U.S. government has charged four Iranians and sanctioned two companies for a multi-year cyber campaign targeting more than a dozen American companies, including defense contractors, an accounting firm, and a hospitality company. The defendants are accused of using malicious emails and impersonating women to trick victims into clicking on links that infected their computers with malware. Over 200,000 employee accounts were compromised at the accounting firm, and more than 2,000 were compromised at the hospitality company. The alleged wrongdoing occurred between 2016 and 2021.

In a landmark move, the Federal Trade Commission (FTC) has approved a rule banning the use of noncompete agreements by US companies. These agreements, which prohibit employees from joining competing firms for a certain period, have historically been common among high-level executives but have recently spread to lower-earning workers. The FTC estimates that around 30 million people, or 20% of the workforce, are currently subject to these restrictions.

The Pakistani government is moving towards an interest-free economy and establishing Islamic banking branches nationwide. This is in line with the Federal Shariat Court’s ruling to abolish the interest-based system. The government is working to implement the court’s directives and has received support from friendly countries. The finance minister highlighted the importance of promoting agricultural growth, tax enforcement, and reforms in State Owned Enterprises.

Akima Global Technology (AGT), a subsidiary of Akima, has been awarded a major contract by the U.S. Air Force to provide communication and enterprise IT support services. The 10-year contract, valued at up to $1.6 billion, will involve AGT providing a range of services, including operating a 24/7 service desk, managing IT hardware and equipment lifecycle replacement, operating VTC facilities and conference centers, and providing cybersecurity support.

Pink Sand Spirits, Co., a brand of premium spirits and seltzers, has announced an exclusive partnership with Sysco Bahamas, a leading distributor in the Bahamas. The partnership will make Pink Sand Spirits the exclusive premium spirits and seltzers partner for the launch of Sysco’s wine and spirits distribution. Pink Sand Spirits, Co. was founded by four friends in Harbour Island with the mission to capture the elevated lifestyle of living and vacationing in the Bahamas. Its products are crafted with all-natural flavors and feature a range of Bahamian-inspired white spirits and spirits-based seltzers. Sysco Bahamas is recognized as a dynamic and forward-thinking distributor, committed to offering high-quality and unique products to its customers. The addition of Pink Sand Spirits to its portfolio will allow Sysco Bahamas to bring an exceptional selection of spirits and seltzers to the market.

Uber Technologies Inc. has launched its ridesharing services in Newfoundland and Labrador, covering the Avalon Peninsula with St. John’s as the primary service area. Acknowledging potential wait times during the initial rollout, Uber anticipates improved reliability as more drivers join the platform. The company’s expansion to the province marks its presence in 140 Canadian municipalities and over 10,000 cities worldwide.

If you missed the April 15th tax deadline, it’s crucial to file your return immediately to prevent accumulating penalties and interest. The IRS charges a 5% monthly late filing penalty, capped at 25%, and a 0.5% monthly failure-to-pay penalty, with a 25% maximum. Filing an incomplete or inaccurate return can lead to audits or delays, so ensure you have all necessary tax documents before submitting. In case of missing information, file an accurate return as soon as possible. Consider online payment options like IRS Direct Pay or the IRS online account for late payments. If you can’t pay the full balance, installment plans are available, including short-term (up to 180 days) and long-term (up to 72 months) options. You may also qualify for first-time penalty abatement if you meet specific criteria.