A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) The most powerful business lobby in the United States is not a fan of the landmark heath care and climate package President Joe Biden is expected to shortly sign into law. "Business Roundtable opposes the 'Inflation Reduction Act,' which, among other things, includes tax provisions that would undermine American economic growth and competitiveness," the group said in a statement shortly before the measure was passed by the Senate. But analyses by Wall Street institutions published over the past week found that the impact on corporate earnings would likely be limited, though some sectors could be more affected than others. Breaking it down: The two provisions in focus are a 15% minimum corporate tax and a 1% tax on … [Read more...] about New business taxes are coming. Wall Street isn’t worried
Fertilizer animal crossing new leaf
New Covid-19 cases down 6.6% last week
The average infectivity rate of Covid-19 showed a decrease of 2% in Malaysia last week. (Photo by Mohamad Shahril Basri/The Edge) - A + A KUALA LUMPUR (Aug 15): The number of new Covid-19 cases decreased by 6.6% to 26,678 during the 32nd epidemiological week (ME 32) from Aug 7 to 13. Health director-general Tan Sri Dr Noor Hisham Abdullah said for the same period, 60 fatalities were recorded, the same as the week before. "The number of recovered cases in ME 32 increased by 1.1%, from 28,604 cases to 28,905 cases. "The daily average of active cases for ME 32 was 44,706, which was a decrease of 2.7% compared to the previous week," he said in a statement on the latest Covid-19 situation on Monday (Aug 15). Meanwhile, admissions of Covid-19 patients to hospitals and public Covid-19 Quarantine and Treatment Centres (PKRC) per 100,000 residents for patients in Categories 1 and 2 increased by 5.3%, while for Categories 3, 4 and 5, there was an 11.4% increase. … [Read more...] about New Covid-19 cases down 6.6% last week
Bongbong Marcos names Nelson Java Celis as new Comelec commissioner
MANILA, Philippines — President Ferdinand Marcos Jr. has designated Nelson Java Celis as commissioner of the Commission on Elections (Comelec). This was confirmed by Comelec chairperson George Garcia in a Viber Message to reporters on Monday. He said Celis’ appointment paper was dated August 11 and that Executive Secretary Victor Rodriguez signed it. Garcia, however, clarified that Celis “cannot assume yet until confirmed,” as he has received a regular appointment. Nelson Java Celis Once confirmed, Celis will sit as poll commissioner until February 2, 2029, as he is also set to continue the unexpired portion of Comelec Commissioner Aimee Torrefrana-Neri’s term of office. To recall, Torrefrana-Neri’s appointment was bypassed by the Commission on Appointments. READ: CA bypasses Duterte-appointed Comelec chair, 2 poll commissioners Meanwhile, in a separate statement, Comelec said it looks forward to working with Celis. It expressed hope that his nomination will be … [Read more...] about Bongbong Marcos names Nelson Java Celis as new Comelec commissioner
Adult-Use Cannabis Legalization Reduces Use Of Synthetic Cannabinoids, New Study Finds
Share to Twitter Share to Linkedin Harmful exposure to synthetic cannabinoids occurs less in those U.S. states where adult-use cannabis is legal, according to a new study that shows some potential public health benefits to legalizing adult-use cannabis. Researchers who published a study in the Journal of Clinical Toxicology last week found that adult-use cannabis legalization has benefits in reducing both motivations and harms associated with the use of synthetic cannabinoid products. They estimated that synthetic cannabinoids are used by 0.2–4% of the U.S. population, predominantly by young people. In order to analyze the impact of the use of synthetic cannabinoids on the U.S. population , researchers have associated 7,600 reports of exposure to synthetic cannabinoid poisoning taken from the National Poison Data System (NPDS) data from 2016 to 2019 with cannabis state cannabis laws. The findings show that exposure to synthetic cannabinoids … [Read more...] about Adult-Use Cannabis Legalization Reduces Use Of Synthetic Cannabinoids, New Study Finds
MIDA, Perodua identify five new vendors for digital transformation programme
- A + A KUALA LUMPUR (Aug 15): The Malaysian Investment Development Authority (MIDA) and Perusahaan Otomobil Kedua Sdn Bhd (Perodua) have identified five vendors for the MIDA-Perodua Digital Transformation Ecosystem Programme launched on Monday (Aug 15) at MIDA's headquarters. These vendors are Armstrong Auto Parts Sdn Bhd, Ingress Aoi Technologies Sdn Bhd, Namicoh Suria Sdn Bhd, PD Kawamura Kako Manufacturing Sdn Bhd (PDKM) and Kumpulan Jebco (M) Sdn Bhd. Notably, Perodua Auto Corp Sdn Bhd owns 51% of PDKM and 15% of Ingress. The programme aims to upgrade local automotive suppliers to the next level by using cutting-edge technologies and machinery and to digitalise their manufacturing processes through adoption of Industry 4.0. The first phase of the programme, formerly known as Malaysia Lighthouse project, had its pilot project begun in 2020 with three vendors, namely LSF Technology Sdn Bhd, JK Wire Harness Sdn Bhd and Autoliv Hirotako Safety Sdn Bhd. When … [Read more...] about MIDA, Perodua identify five new vendors for digital transformation programme
Iran Claims Salman Rushdie And Supporters Are To Blame For His Attack—As It Denies Involvement In Stabbing
Share to Twitter Share to Linkedin Topline Iran’s foreign ministry on Monday said Salman Rushdie brought on the stabbing that left him with “life-changing” injuries by himself, according to multiple news reports , denying Tehran had any involvement in the attack on the author of The Satanic Verses, a book it considered so blasphemous it once issued a religious order to execute anyone involved in its publication. Key Facts Rushdie and his supporters are the only ones to blame for the attack on the author in New York on Friday, Iran’s foreign ministry spokesman Nasser Kanaani reportedly said at a news briefing on Monday. The author had exposed himself to widespread outrage after crossing the “red lines of 1.5 billion Muslims” with the publication of The Satanic Verses, Kanaani said . Freedom of speech “does not justify” Rushdie’s insults to Islam, Kanaani added . Kanaani also denied any Iranian involvement with the … [Read more...] about Iran Claims Salman Rushdie And Supporters Are To Blame For His Attack—As It Denies Involvement In Stabbing
Synthetic Marijuana: What It Is And Why It Should Be Banned
Share to Twitter Share to Linkedin New York has just placed a statewide ban on the sales of synthetic marijuana. Last week it issued a warning of the dangers of the drug, which can be significantly more severe than natural marijuana. Study after study has found that synthetic pot is linked to serious side effects, which often require emergency room visits and medical intervention. According to NY State’s official order, synthetic pot has been shown to bring about “severe adverse reactions, including death and acute renal failure, and commonly cause: tachycardia (increased heart rate); paranoid behavior, agitation and irritability; nausea and vomiting; confusion; drowsiness; headache; hypertension; electrolyte abnormalities; seizures; and syncope (loss of consciousness)." Synthetic pot also goes by the names K2, Spice, Aroma, Earth Impact, Mr. Smiley, Mr. Nice Guy, Zohai, Eclipse, Black Mamba, Red X Dawn, Blaze, and Dream, among … [Read more...] about Synthetic Marijuana: What It Is And Why It Should Be Banned
American recession fears collide with reality
New York (CNN Business) The American economy didn't get the memo that it's supposed to already be in a recession. The brutal GDP report released on July 28, showing the economy had contracted for a second quarter in a row, led some to insist the much-feared recession had already arrived. The good, the bad and the unknown of the inflation news And in some ways that makes sense: Since 1948, every period of back-to-back quarters of negative growth coincided with a recession. But the recession-is-already-here argument has been severely undermined since that GDP report came out. A series of events in the past 10 days suggest those recession calls are, at a minimum, premature. Yes, the economy is cooling off after last year's gangbusters growth. But no, it does not appear to be suffering the kind of downfall that would qualify as a recession. Read More Consider the following developments: The economy added more than … [Read more...] about American recession fears collide with reality
Billionaire behind big nickel short plans to sell steel assets
State-controlled Baowu, the world’s biggest crude steel producer, is likely to acquire controlling stakes in some integrated production lines owned by Tsingshan at Indonesia Morowali Industrial Park in Central Sulawesi province, the people familiar with the negotiations said. - A + A (Aug 15): Tsingshan Holding Group Co, the nickel giant owned by billionaire Xiang Guangda, is in advanced talks to sell some of its stainless-steel assets in Indonesia to China Baowu Steel Group Corp as part of a strategic review, according to people familiar with the negotiations. State-controlled Baowu, the world’s biggest crude steel producer, is likely to acquire controlling stakes in some integrated production lines owned by Tsingshan at Indonesia Morowali Industrial Park in Central Sulawesi province, the people said, asking not to be identified discussing confidential information. The talks started in April, and the assets for sale include production plants of stainless steel … [Read more...] about Billionaire behind big nickel short plans to sell steel assets
Investors of crypto exchange Zipmex seek CEO Lim’s resignation
- A + A (Aug 15): Some shareholders and potential investors of Asian crypto exchange Zipmex Pte Ltd are urging chief executive officer Marcus Lim to step down over management decisions they argue led to a severe cash crunch, people familiar with the matter said. Zipmex, which capped withdrawals last month after exposure to troubled crypto lender Babel Finance hurt its finances, on Monday (Aug 15) was granted more than three months of protection from creditors by Singapore’s High Court. The reprieve will give the firm additional breathing room to come up with a funding plan. One large Zipmex shareholder has written to Lim asking him to resign, citing a loss of trust among partners and the fallout from the Babel exposure, one of the people said. It wasn’t clear how many investors support the effort to remove Lim. “The internal matter of senior executive positions (including responses to this letter) is being handled by the board and shareholders,” Lim said in a … [Read more...] about Investors of crypto exchange Zipmex seek CEO Lim’s resignation