Naicom releases new capital requirements for insurers

Share to Twitter Share to Linkedin When you unshackle 1.4 billion consumers who have been penned up at home for three years, it’s reasonable to expect some fireworks. For the residents of Mainland China, life under “zero COVID” policies was a dreary round of rolling travel restrictions and lockdowns – as if the United States was permanently stuck on a skipping record of the Spring of 2020. While most of the population was able to find a way to get back to work eventually, the everyday routines of travel, dining out, and visiting friends and family were severely curtailed. Wallets stayed snapped shut. Since China executed its “COVID pivot” in late December 2022, economists have been scrutinizing the data to see if the country will be able to achieve its goal of 5% growth in 2023. If achieved, China will serve as an engine to help developed economies avoid tipping into recession. This is particularly relevant in the new era of higher interest rates, … [Read more...] about Why China’s COVID Comeback Is Still In The Early Innings, With Upside Ahead

Share to Twitter Share to Linkedin As we enter tax season 2023, you may wonder how long you should keep your old tax returns and other paperwork associated with filing your taxes. For those with hard copies of your taxes, you might wonder if you can scan them. Or do you need to keep hard copies? Keep reading as we share how long you should keep your old taxes and how to get them out of your way, hopefully. How long do you need to keep old tax records, receipts, and total tax returns (state and federal)? Another common question is how to safely store these tax docs without feeling like you are living like a hoarder. While providing tax-planning guidance over the years, I've met several people with countless boxes full of old receipts, documents, and tax returns. While some tax documents needed to be kept, most could have been shredded and thrown away long ago. What Does The IRS Say About Keeping Old Tax Returns? According to the Internal Revenue … [Read more...] about How Long Should You Keep Old Tax Returns?

Share to Twitter Share to Linkedin MIAMI, FL - SEPTEMBER 28: Dee Gordon #9 of the Miami Marlins slides safely into second base as the ... [+] ball gets away from T.J. Rivera #54 of the New York Mets during the game at Marlins Park on September 28, 2016 in Miami, Florida. (Photo by Rob Foldy/Getty Images) Two sources who spoke on the condition of anonymity said that Miami Marlins president David Samson has said that there is a $1.6 billion "handshake agreement" for the MLB team. Jeffrey Loria paid $158 million for the baseball team in 2002. In December, I wrote that Loria was looking for $1.7 billion for the baseball team. Since Loria purchased the team in 2002, the Marlins have moved into a new, $639 million stadium paid for by taxpayers. Marlins Park could have been a financial windfall for the team. But during the ballpark's first five seasons the Marlins have been one of the worst teams in baseball, losing more games than they have … [Read more...] about Miami Marlins Claim To Have $1.6 Billion Handshake Agreement For Team

Share to Twitter Share to Linkedin Daniel Saunders is the CEO of L Marks . He is a technologist-turned-investor and an experienced advisor in applied innovation. For most businesses, innovation means commercializing what the R&D department invents. This approach results in what is called "sustaining innovation," where you refine your offering each year, making small but consistent gains. But focusing solely on sustaining innovation closes you off from "strategic innovations" that can disrupt markets by offering something completely new. Complacency over the difference between these two types of innovation has led successful companies to struggle, as a business can become irrelevant overnight in the face of disruptive innovations. Strategic and sustaining innovation differ significantly in the types of solutions they produce, the timescales they work toward and the level of economic returns. Businesses that have mastered different forms of … [Read more...] about Why Executives Need To Pay Attention To Strategic Innovation

Ford expects to lose $3 billion on its electric vehicle department this year, the company announced Thursday. The company will be reorganizing its financial reporting into three distinct branches, Ford Blue, Ford Model e and Ford Pro, which will develop gas-powered, electric and commercial vehicles respectively, according to a press release. In the three years starting 2021, Ford Model e is expected to report a $3 billion loss. (RELATED: ‘Sustainable’ Electric Cars Are Getting Junked Over Minor Damage) “We’ve essentially ‘refounded’ Ford, with business segments that provide new degrees of strategic clarity, insight and accountability to the Ford+ plan for growth and value,” CFO John Lawler said.  “It’s not only about changing how we report financial results; we’re transforming how we think, make decisions and run the company, and allocate capital for highest returns.” Ford’s new structure and way of reporting earnings gives new insight into its EV business (which CFO … [Read more...] about Major Automaker Expects It Will Hemorrhage Billions From Its Electric Vehicle Business

Share to Twitter Share to Linkedin Topline Amid growing global concern over the social media platform, TikTok CEO Shou Zi Chew will testify before the House Energy and Commerce Committee Thursday, where U.S. lawmakers are expected to question Chew over safety concerns for minors and preventing U.S. user data from foreign access. Key Facts In Chew’s first appearance before Congress, he’s expected to discuss the company’s privacy and data security practices, as well as the company’s relationship with the Chinese government, which has come under increased scrutiny in recent months. Prepared Remarks Chair Rodgers, Ranking Member Pallone, and Members of the Committee: Thank you for the opportunity to appear before you today to talk about TikTok and our mission to inspire creativity and bring joy to more than 1 billion people worldwide. I look forward to discussing what makes TikTok so special to the diverse audiences it serves, as well as our … [Read more...] about TikTok CEO Shou Zi Chew’s Prepared Comments Before Congress

Like clockwork, the United Nations is out with yet another climate report, and the usual suspects are already blaring the global warming alarm sirens. The New York Times warned the planet is on track “to cross a critical threshold for global warming within the next decade” and the only way to “hold global warming to relatively safe levels” would “require global cooperation, billions of dollars and big changes.” The Associated Press declared the world is on “thin ice” due to warming. The BBC characterized the UN report as a “survival guide” — if we don’t follow it, we’ll see “the worst effects of climate change.” The alarmist frenzy was joined by prominent scientists, eco-activists, Democratic politicians and even the UN chief himself, who called the report a “how-to guide to defuse the climate time-bomb. In other words, the media, elites and the scientific establishment want you to take this report very, very seriously. The problem is no one who actually cares about … [Read more...] about BASTASCH: The UN’s Newest Climate Report Is A Woke Dumpster Fire Masquerading As Science

Share to Twitter Share to Linkedin Topline The Manhattan grand jury that will decide whether to indict former President Donald Trump called off a planned meeting for Wednesday, according to multiple reports , delaying any potential charges against Trump for his ties to an alleged hush money scheme at least one more day. Key Facts It’s unclear why the grand jury—which holds secret proceedings—will not meet as planned Wednesday afternoon, the New York Times reported , citing anonymous sources who said the jury could hear from at least one more witness before voting whether to indict Trump. The 23-member jury, which previously met on Monday, could vote in its next scheduled meeting Thursday, though the Times notes that scheduling conflicts are not unusual in grand jury proceedings. The delay comes after Trump claimed without evidence on Saturday that he would be arrested on Tuesday. Law enforcement in New York City and … [Read more...] about N.Y. Grand Jury Weighing Trump Charges Reportedly Calls Off Wednesday Meeting—Delaying Possible Indictment

Share to Twitter Share to Linkedin Topline TikTok CEO Shou Zi Chew faced intense questioning from lawmakers in his first hearing before Congress Tuesday morning, defending the popular social media app and insisting it protects U.S. user data from foreign interference, though House members from both sides of the aisle remained skeptical of TikTok's plans as the Chinese-owned platform fights against a possible U.S. ban or forced sale. Key Facts Rep. Cathy McMorris Rodgers (R-Wash.)—chair of the House Energy & Commerce Committee—asked about spying and surveillance on U.S. users by TikTok, which is owned by Beijing-based tech company ByteDance, but Chew said he "disagrees with the characterization" that the social media platform is spying on American users and said TikTok is “committed” to protecting U.S. data from foreign access. Chew claimed in his testimony that he has “seen no evidence” of Chinese government officials accessing U.S. user data, … [Read more...] about TikTok CEO Spars With Congress Amid Growing Calls For Ban—As Lawmaker Calls Privacy Claims ‘Preposterous’