December 4, 2020

Business News

This is such a precious day that just by the thought of it, it calms our nerves and fills our heart with gratitude for all the good in life. Grateful heart gives no resistance to the natural flow of grace and wonderful blessings. Gratitude is heaven in itself. Thanksgiving is a day to truly feel grateful for all the precious things and people that we all are blessed with. Gratitude is such a divine virtue that no other divine virtue could exist without it.

History of Thanksgiving dates back to 1621, when the pilgrims’ first corn harvest proved victorious. During that time with spirit of gratitude, the governor organized a celebratory feast. Every year, Thanksgiving Day is celebrated on the last Thursday of November from 1863 when the prevailing president declared it. This year’s Thanksgiving Day is on November 26.

This annual holiday of Thanksgiving gives us an opportunity to Read the rest

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The Philippine peso, which lagged its peers in Asia this quarter, may get a boost in December with millions of Filipinos abroad set to send record amounts of money home to help families suffering from the pandemic and the recent typhoons.

December is a seasonally strong month for the peso, with the currency gaining in the period in five of the past six years. It is also the month when remittances, which totaled more than $30 billion in 2019, reached their highest levels for the year since 2009.

“With increased unemployment as a result of the pandemic and the impact of the typhoons, we expect extra remittances in order to support families at home,” said Wouter van Eijkelenburg, an economist at Rabobank in the Netherlands. “This would support the strength of the peso.”

The peso will edge higher to 48.08 per dollar over the next three months, according to Read the rest

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More than 95,000 newly incorporated business could join the quarter of a million firms that failed to meet recent Companies House accounts deadlines this year, following a record boom in new business registrations.

According to official government figures there were 397,135 new incorporations in Q2 and Q3 2020 combined, with HMRC reporting that one in four businesses required to file a month-to-date VAT return failed to do so on time, as well as more than a quarter of a million companies missing the September accounts deadline.

The proportion of business that fail to meet the important filing deadlines may also increase due to the added pressures of Covid, despite deadline extensions, as business owners and directors deal with the pressures of running a business during the pandemic.

Simon Wallwork, Partner & Head of Corporate and Commercial at Slater Heelis, said: “The pandemic and resulting rise in redundancies have accelerated … Read the rest

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The Centers for Disease Control (CDC) is now widely expected to revise its recommendations for COVID-related quarantine. The twist is that it’s actually good news from the public’s perspective, with the possibility that recommendations could come down to anywhere between seven and 10 days for a self-imposed quarantine rather than two full weeks.

Currently, requirements are fairly stringent, with the CDC recommending a 14-day quarantine for anyone exposed to a person with coronavirus even the exposed individual tests negative themselves. That may be prudent but it’s also a logistical mess. It isn’t exactly easy or enforceable to keep people confined by themselves during the holiday season.

So why would the CDC change its cautious stance right now, especially given the surge in the COVID pandemic and upcoming holiday weekend? Officials such as CDC director Robert Redfield and one of the agency’s COVID-19 response leaders, Henry Walke, along with other public … Read the rest

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In her late 20s, Daria Halchack managed to found her own company, Gipnetix PTE. LTD., in the middle of a global pandemic. Gipnetix is ​​an online learning platform that will bring your personal and corporate brand development to new heights. The platform also helps social media marketing specialists advance in their careers and improve the performance of their ads. Business owners can benefit from the knowledge available on Gipnetix as well. 

Prior to launching her own business, Daria already was an influencer with over 200k followers on Instagram. Despite her now devoting most of her time to running her business, we’ve managed to talk to her and ask more about her success story as well as advice for today’s influencers and starting entrepreneurs. Daria’s story is a perfect illustration of the power of smart business planning and implementation.

At what point you’ve started thinking about creating Gipnetix? Did someone Read the rest

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Rishi Sunak is to acknowledge that the coronavirus pandemic will lead to a steep rise in long-term unemployment today when he announces a £4.3 billion package to help the jobless.

The economic devastation will be made clear in a series of forecasts published by the Office for Budget Responsibility (OBR) alongside the Whitehall spending round. The Resolution Foundation, a think tank, has suggested that the central forecast will show a permanent reduction in GDP of 3 per cent, equivalent to £1,000 a head.

Government borrowing will be close to £400 billion this year as public spending jumps above 50 per cent of GDP, a level not seen since the Second World War, and the national debt reaches a 60-year high. However, updated GDP forecasts will show that the economy is on track for a V-shaped recovery. After a shrinkage of about 10 per cent this year, the deepest recession in … Read the rest

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In early March, a data-savvy employee at the game studio Blizzard Entertainment started taking a hard look at rising number of U.S. COVID-19 cases, which then numbered in the low hundreds.

“We were able to do some math and say, looking at the China and Italy data, this is going to affect us very dramatically,” says J. Allen Brack, Blizzard’s president.

Within days, Blizzard, a unit of gaming giant Activision-Blizzard, asked groups of its designers, programmers, and other staff to work from home temporarily. They thought of it as a test, meant to refine the organization and infrastructure needed to keep creating video games, just in case things got really bad.

And of course, things got really bad.

“It was pretty damned fast,” says Blizzard executive John Hight. … Read the rest

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(11-16-2020, Shanghai) On November 14, 2020, USI (SSE: 601231) held a groundbreaking ceremony for its Vietnam Facility in Dinh Vu Industrial Zone (“DVIZ”) located in Hai An District, Haiphong City, Vietnam. City officials including Nguyen Duc Tho, Municipal Party Committee Member and Vice Chairman of Haiphong City People’s Committee, Nguyen Tong Quan, Deputy Chief of Office of Haiphong City People’s Council, Le Trung Kien, Member of the Standing Committee, Haiphong City Party Committee and Head of Haiphong Economic Zone Authority, Bui Ngoc Hai, Deputy Head of Haiphong Economic Zone Authority, Bruno Johan O. Jaspaert, General Director of Dinh Vu Industrial Zone Joint Stock Company, attended the ceremony to witness the facility’s milestone moment.

On December 12, 2019, USI’s board of directors approved an investment for a manufacturing facility to be set up in Vietnam and, established the Universal Scientific Industrial Company Limited, a wholly-owned subsidiary, for that purpose. With a … Read the rest

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TOKYO — Sixty-year-old Yashiro Haga is folding his Tokyo noodle ramen shop after 15 years in December, unable to overcome the prospect of a lasting customer slump due to the coronavirus crisis.

“The flow of people has changed due to the coronavirus,” Haga said, standing behind the counter of his ground-floor shop, Shirohachi. “Customers aren’t coming in and queuing up outside shops any longer.”

The pandemic is damaging Japan’s “mom-and-pop” restaurants—including noodle shops like Haga’s—at a growing rate, despite evidence the government’s massive effort to stave off bankruptcies is working in other sectors of the economy.

Hurt by deflationary pressures and growing competition in the run-up to the now-delayed Tokyo Olympics, noodle bars are particularly prone to the economic malaise the pandemic triggered in the service sector.

Small and mid-sized businesses like Haga’s noodle bar employ about 70% of Japan’s workers and account for 99.7% of the total number of Read the rest

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Rishi Sunak is facing calls to scrap corporation tax and overhaul “largely toothless” foreign takeover rules in an attempt to boost British industry through Brexit and the pandemic.

The Independent Business Network, which has positioned itself as an alternative lobby group to established players such as the British Chambers of Commerce, also said that the pound should be “maintained at a competitive exchange rate”.

The chancellor’s spending review tomorrow provided a platform for “greater co-ordination and focus” around expanding the UK’s trade with the world, it said.

Business leaders who endorsed Brexit in 2016, including John Longworth, a former director-general of the British Chambers of Commerce, and John Mills, who founded JML, established the IBN to seize on the opportunities they believe could be created by leaving the European Union.

It called corporation tax a “disproportionate administrative burden” for companies, and added: “Without corporation tax, businesses will have more cash … Read the rest

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