Live news updates from January 23: Microsoft invests in OpenAI, Sunak urged to join NHS talks

Are you enjoying the start of the new lunar calendar year? The Year of the Rabbit is supposed to represent hope, peace and prosperity. And we all need more of these things in 2023. For the time being, however, this week is likely to focus on the more difficult matters of the present, not least China’s ability to vaccinate its citizens during the holiday season.

Industrial disputes will continue to rumble on with ambulance workers in England and Wales due to stage another strike on Monday. In Portugal, cabin crew at national carrier TAP will begin strike action on Wednesday amid a dispute about the airline’s pay offer and working conditions.

In Westminster politics on Tuesday, Labour’s shadow foreign secretary David Lammy will take up a more positive tone when he sets out his party’s policy priorities. He will probably weigh in on the UK’s relationship with the EU.

By coincidence, Monday is the 10th anniversary of former prime minister David Cameron’s speech on Europe in which he pledged he would renegotiate the UK’s relationship with the EU and offer a referendum on membership. Perhaps Lammy will reference this.

Also in the UK, but not to do with the British government, Nigeria is due to mount a high-stakes legal trial at London’s High Court on Monday. The case involves a long-running attempt to overturn an $11bn arbitration award that left the Nigerian government owing more than a quarter of its foreign reserves to an obscure oil and gas company.

The main election news of the next seven days will be the Czech presidential run-off vote, which concludes on Saturday. Former Nato commander Petr Pavel is the frontrunner. Also, Donald Trump is back. The former US president is expected to make his first public appearance on the 2024 campaign

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Japan Companies Turn to Apple Waste to Make Eco-Friendly Leather


The Yomiuri Shimbun
A customer looks at products made of apple leather at the Yurakucho Marui department store in Chiyoda Ward, Tokyo.

Faux leather is nothing new, but leather made from apple waste has been drawing the attention of both companies and consumers.

Frequently referred to as apple leather, the material has been used in various commercial products overseas as a result of people becoming more environmentally conscious, as well as U.N.’s sustainable development goals. Progress has also been made in Japan to develop the material commercially.

Bags and wallets made of Italian apple leather were on display at a recent sales event at the Yurakucho Marui department store in Chiyoda Ward, Tokyo.

“It’s indistinguishable from real leather,” said university student Taiga Matsumoto, 20, who came to the event. “If the functionality and design are the same, I’d choose the one that is more eco-friendly.”

The products were created by bag and accessory company Lovst Tokyo.

“If you use faux leather made from plants, there will be less livestock production, leading to less carbon dioxide emissions,” said Kaito Karasawa, 31, president of the Tokyo-based company. “Many people choose [these products] as a way to help the environment.”

Apple leather is considered an ethical product as it is manufactured with the environment and people in mind. The products have recently been drawing attention as there is more interest in climate and human rights issues.

As the plant-based leather is made from dried apple cores and pomace that have been crushed and mixed with resin and other materials, it leads to less food waste. Apple leather is light and can stretch, and the texture is very similar to animal leather.

In recent years, progress is being made

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Visualizing the Most Popular Paid Subscription News Websites

Ranked: The Top 50 Most Visited Websites in the World

Estimates vary, but there are upwards of two billion websites in existence in 2023.

If we were to rank all of these websites according to their traffic numbers, we would see a classic power law distribution. At the low end, the vast majority of these websites would be inactive, receiving little to no traffic. On the upper end of the ranking though, a handful of websites receive the lion’s share of internet traffic.

This visualization, using data from SimilarWeb, takes a look at the 50 websites that currently sit at the top of the ranking.

Which Websites Get the Most Traffic?

Topping the list of most-visited websites in the world is, of course, Google. With over 3.5 billion searches per day, Google has cemented its position as the go-to source for information on the internet. But Google’s dominance doesn’t stop there. The company also owns YouTube, the second-most popular website in the world. Together, Google and YouTube have more traffic than the next 48 websites combined.

The power of YouTube, in particular, is sometimes not fully understood. The video platform is the second largest search engine in the world after Google. As well, YouTube has the second highest duration-of-visit numbers in this top 50 ranking. (First place goes to the Chinese video sharing website, Bilibili.)

But Google and YouTube aren’t the only big players on the internet. Other websites in the top 50 ranking include social media giants Facebook, Instagram, and TikTok. In particular, TikTok has seen a surge in popularity in recent years and is now one of the most popular social media platforms in the world.

Here’s the full top 50 ranking table form:

Rank Website Monthly Traffic Category Country
#1 google.com 85.1B Search
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FinCEN provides time estimates for compiling beneficial ownership details

Treasury’s Financial Crimes Enforcement Network (FinCEN) has updated its estimates on how long it should take a company to report beneficial ownership information (BOI) to account for the complexity of the business structure. Filings for entities with complex structures could take nearly 11 hours, the agency estimates. It expects filings from 32.6 million entities in the first year.

The average burden of reporting BOI for reporting companies with simple beneficial ownership structures should be 90 minutes per response, FinCEN said.

In a notice and request for comment Jan. 17 in the Federal Register, FinCEN said it assumes that 59% of reporting companies will have a simple structure — one beneficial owner who also is the company applicant; 36.1% will have an intermediate structure of four beneficial owners and one company applicant; and 4.9% will have a complex structure, or eight beneficial owners and two company applicants.

Starting Jan. 1, 2024, most companies created in or registered to do business in the United States must report information about their beneficial owners to FinCEN as part of the Corporate Transparency Act (CTA). Information collected by FinCEN from the beneficial owner reports will be kept in a nonpublic database, the forthcoming “Beneficial Ownership Secure System.”

FinCEN describes a company’s beneficial owners as the persons “who ultimately own or control the reporting companies.” Disclosing information about them will “help law enforcement and national security agencies prevent and combat money laundering, terrorist financing, tax fraud, and other illicit activity, as well as protect national security,” FinCEN said in its Notice of Proposed Rulemaking (NPRM) issued in December.

The estimates are divided among time to: identify and collect information about beneficial owners and company applicants and time to fill out and file the report, including attaching an image of an acceptable identification document for each

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Albemarle to Host 2023 Strategic Update Including New 5-Year Outlook and Preliminary 2022 Results

CHARLOTTE, N.C., Jan. 23, 2023 /PRNewswire/ — Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, will host its virtual 2023 Strategy Update tomorrow, Jan. 24, 2023, at 9:00 a.m. ET.  The event is expected to conclude at approximately 10:45 a.m. ET.

Albemarle CEO Kent Masters and CFO Scott Tozier will present alongside Netha Johnson, president, Specialties, and Eric Norris, president, Energy Storage. The presentations and related discussions will provide details on corporate strategy, preliminary and unaudited fourth-quarter and full-year 2022 results and highlights, 2023 guidance and five-year outlook.

Key Themes for the 2023 Strategic Update include:

  • Building on durable competitive advantages to accelerate growth and deliver long-term value
  • Reshaping the company’s core portfolio with a stronger focus on growth opportunities to enable mobility, energy, connectivity and health
  • Reinforcing Albemarle’s commitment to advancing sustainability and building a more resilient world
  • Expanding capacity while maintaining financial flexibility and a disciplined approach to capital allocation 
  • Adding new leadership to reinforce relationships with external stakeholders 
  • Delivering on the company’s comprehensive operating model to drive operational performance

“We delivered record results in 2022, exceeding our previous projections, and our updated outlook and long-term targets reflect further growth acceleration,” said Albemarle CEO Kent Masters. “Albemarle is a leading producer of critical ingredients for some of the most powerful trends transforming the modern world, and we are partnering with other industry leaders to provide secure supply, innovative technologies and improved sustainability. Our virtual strategy event will give investors a deeper understanding of who we are, where we are headed and how we plan to manage our growth to balance short- and long-term opportunities.”

Outlook
Albemarle is introducing full-year 2023 guidance and 2027

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Microsoft Canada’s Irish ownership offers a glimpse into multinationals’ tax strategies

The exterior of the Microsoft office in Toronto on Jan. 1.Tijana Martin/The Globe and Mail

Microsoft Canada MSFT-Q became owned by an Irish affiliate in its 2021 fiscal year, according to documents that offer a rare glimpse at how its multinational parent company has taken advantage of Ireland as a tax haven.

Such a structure could drive down the taxes that the Outlook, Word and Excel software giant pays on any profit it generates in Canada, experts say, by letting Microsoft Canada transfer profits to the lower-tax country with techniques such as royalty payments to the Irish parent company.

Many jurisdictions, including Canada, put little pressure on large multinationals to disclose the finances of their local subsidiaries. But financial statements recently published by Ireland’s corporate registration office show that a Microsoft Corp. branch called Microsoft Round Island One UC became tax resident there as of Jan. 1, 2021.

Inside Amazon’s strategy to shield its profits from Canadian taxes

In Microsoft’s 2021 fiscal year, which ended that June 30, the documents show that the subsidiary took ownership of Microsoft Canada from a separate, unidentified branch of the company.

That entity then transferred Microsoft Canada to another Irish subsidiary called Microsoft Ireland Research UC, whose filing says it licenses the rights to Microsoft’s products to other segments of the multinational.

It is common for multinational companies to establish subsidiaries in tax-friendly Ireland, which has not yet implemented a multilateral promise to boost its corporate-profit tax rate to 15 per cent from 12.5 per cent. But it is rare to get a sense of exactly how these multinationals’ country-specific subsidiaries are shifted around to more tax-friendly jurisdictions within a labyrinthine corporate structure.

Microsoft sells staple software around the world for consumers, governments and companies alike, while the company is also one of

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Pickering – ‘Hollywood North-East’ – hosting business event to help local companies take advantage of film sector growth


By Glenn Hendry

Published January 23, 2023 at 12:01 pm

William F. White Backlot in north Pickering

The film industry is a multi-billion dollar industry in Ontario and the City of Pickering – ‘Hollywood North-East,’ as it is sometimes called – has worked hard to get a big slice of that lucrative pie.

Home to the biggest backlot in Canada, a 23-acre ‘town’ created in 2021 for the Amazon Prime series ‘Reacher,’ as well as the 180,000 sq. ft. TriBro Studio, Pickering has been one of the more successful cities in the GTA for attracting filmmakers to town, both for the diverse locations and now for the production facilities available.

Catherine Hodge, the Senior Co-ordinator and Development Liaison for the City, said they’re only getting started and wants local businesses to learn how to take advantage of the opportunities the sector can provide.

Invest Durham – Film Durham and Pickering’s Economic Development Department are hosting an event February 23 – ‘Your Business. Their Next Film’ – to give companies a few tips on how to do business with the television and film world.

“We have experienced so much growth in the industry in Pickering over the past five or six years,” Hodge said, noting that even during the pandemic the film business in Ontario was quick to establish protocols to continue making movie magic.

“Production was reduced, absolutely, but Pickering never shut down. The protocols just made it a little more challenging.”

TriBro Studios on Sandy Beach Road in Pickering

Hodge said the movie sector needs services and supplies during their stay and industry experts such as producers, directors, location managers and union representatives will all be on hand to guide local business people in getting a foothold in the

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Diatomaceous Earth Market Size 2023 Will Revenue to Cross US$ 1358 million in 2029 Research by Business Opportunities, Top Companies report covers, Market-specific challenges, consumption by Regional data

Proficient Market Insights

Proficient Market Insights

PUNE, Jan. 23, 2023 (GLOBE NEWSWIRE) — “Diatomaceous Earth Market” research report focus on overall information that can help to take decisions on current market situation. Diatomaceous Earth, also known as D.E., is a type of powder made from the sediment of fossilized algae found in bodies of water. The raw diatomite is a naturally occurring, soft, siliceous sedimentary rock that is easily crumbled into a fine white to off-white powder. It has a particle size ranging from less than 3 micrometres to more than 1 millimetre, but typically 10 to 200 micrometres.

Diatomaceous Earth Market Report Contains 2023: –

  • Complete overview of the global Diatomaceous Earth Market

  • Top Country data and analysis for United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc. It also throws light on the progress of key regional Diatomaceous Earth Markets such as North America, Europe, Asia-Pacific, South America and Middle East and Africa

  • Description and analysis of Diatomaceous Earth market potential by type, Deep Dive, disruption, application capacity, end use industry

  • impact evaluation of most important drivers and restraints, and dynamics of the global Diatomaceous Earth Market and current trends in the enterprise

  • Detailed profiles of the Top major players in the industry, including. Imerys,EP Minerals,Showa Chemical,Kuraray (Calgon Carbon Corporation),Dicalite Minerals Corp. (Dicaperl),Diatomite CJSC,American Diatomite Inc.,JJS Minerals (Diatomite Direct),Jilinyuantong Mineral Co.,ltd,Chanye,Sanxing Diatomite,Shengzhou Xinglong Products of Diatomite,Shengzhou Huali Diatomite Products,Changbai Mountain filter aid,Qingdao Best Diatomite

Get a Sample Copy of the Report at – enquiry/request-sample/22335142#utm_source=gnwpiyush

Diatomaceous Earth Market Segmentation: –

The properties which make Diatomaceous Earth valuable include low density, high porosity, high surface area, abrasiveness, insulating properties, inertness, absorptive capacity, brightness, and high silica content. It is mainly used as filter aids, fillers, absorbents etc.

Researcher’s

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Walmart launches dedicated e-commerce site for businesses

Dive Brief:

  • Walmart on Friday launched a dedicated e-commerce site, dubbed Walmart Business, tailored to small and medium business customers. The website will offer “a curated assortment of more than 100,000 items” and is meant to simplify business-related purchases.
  • The site focuses on products that would appeal to small business owners, like office supplies and furniture, snacks, food and beverages, restroom supplies, electronics and facility needs. Walmart says items are organized “in a way that makes sense to organizations.”
  • Purchases made through Walmart Business will be available for in-store or curbside pickup, delivery or shipping.

Dive Insight:

America’s No. 1 retailer is taking another cue from Amazon, in catering to other businesses. The retailer earlier this month announced that it will offer fulfillment tech and delivery services to other companies through Salesforce.

“We know millions of small and medium businesses (SMBs) and nonprofits utilize Walmart’s stores and website to purchase supplies to support their day-to-day operations,” Ashley Hubka, senior vice president and general manager of Walmart Business said in a Friday announcement. “These customers are under more pressure than ever due to inflation and supply chain issues, adapting to a hybrid workforce and post-pandemic behavioral shifts.”

For $98 a year, customers can upgrade to a Walmart Business+ membership. The upgraded membership offers free, no minimum shipping, excluding marketplace and oversized items; free pickup and delivery from stores with a $35 minimum order; 2% rewards on orders of $250 or more; and savings of 5% on eligible items set to subscription.

Organizations can add up to five users to one Walmart Business account. Customers can also share payment information and order histories across teams. In addition, qualified organizations can enroll in Walmart’s tax exemption program. This program automatically removes applicable sales taxes during checkout.

Arkansas-based Walmart has a large brick-and-mortar

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WeCommerce Signs Definitive Agreement to Combine with Tiny

Combination Creates Profitable Technology Holding Company to be Named Tiny

  • The combination of Tiny and WeCommerce creates a well-capitalized technology holding company managed by a leadership team with a strong track record of building and acquiring profitable companies, driving organic growth, and generating free cash flow for future acquisitions.
  • The proforma newly combined business of WeCommerce and Tiny (which will retain the “Tiny” name) had approximate revenues of $149 million and adjusted EBITDA of $49.7 million for the period ending December 31, 2021. Each of the combined businesses continued to experience growth in calendar 2022, which results will be published in the second quarter of 2023 after the completion of their audited financial statements.
  • The proforma newly combined business will have a strong balance sheet with unaudited cash and debt of approximately $42 million and $130 million, respectively, at December 31, 2022.
  • The transaction represents substantial value for WeCommerce shareholders with an attributed value of $5.12 per share, representing a fully diluted equity value for WeCommerce of $220 million and for Tiny of $691 million, excluding Tiny’s existing interest in WeCommerce shares.
  • The $5.12 per share attributed value represents a proforma combined enterprise value for the two companies of $962 million, reflecting $911 million in total equity value, estimated proforma debt net of cash and investment assets of $51 million (cash of $42 million and investment assets of $37 million, reduced by debt of $130 million) at December 31, 2022, representing a 16.0 to 17.5 multiple of proforma estimated 2023 calendar year adjusted EBITDA of $55 million to $60 million.1
  • The $5.12 value attributed to the shares of WeCommerce represents a 161% premium to Friday’s closing price, and a 158% premium to the 30-day volume-weighted average trading price.
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