Offshore voluntary disclosure letter

Better.com CEo Vishal made headlines after he laid off 900 employees over a Zoom call  last year and  sacked about 4,000 employees in March. After two mass layoffs since December 2021, Vishal Garg's Better.com has in recent weeks offered its employees in India the option to leave voluntarily. About 920 resignations have already been accepted. The digital-first homeownership company made headlines after Garg laid off 900 employees over a Zoom call just before Christmas last year.  In March, the company had sacked about 4,000 employees in the US and India, including pregnant women on Mother's Day. According to a report by news agency IANS , Better.com offered "its workers in India the option to leave under a voluntary separation agreement". In a statement, the company said that the uncertain mortgage market conditions created an exceedingly challenging operating environment for many in the industry. Read more: Computer abruptly shut down: Better.com employees recount … [Read more...] about Vishal Garg’s Better.com offers India employees option to leave, accepts 920 resignations

The Biden administration is expected to soon announce it would ease sanctions on Venezuelan oil amid the ongoing energy crisis, several media outlets reported. The federal government will ease “some” of the energy sanctions on Venezuela, two senior administration officials told CNN. In addition, U.S. oil corporation Chevron will be allowed to enter into negotiations with Venezuelan state-owned firm PDVSA over potential continued operations in the South American oil-rich nation. As part of the deal, Venezuelan dictator Nicolas Maduro agreed to open talks with opposition leader Juan Guaidó, Reuters reported . “[The U.S. agreed to lift some sanctions] on the basis of ambitious, concrete and irreversible outcomes that empower the Venezuelan people to determine the future in their country through democratic elections,” one official told CNN. (RELATED: Gas Prices Hit All-Time High As White House Turns To Dictators For Help) While the U.S. has pursued an aggressive sanctions … [Read more...] about Biden Turns To Venezuelan Dictator For Oil After Canceling US Lease Sales

Share to Twitter Share to Linkedin This is Part III of a three-part series from an extensive interview with the former finance minister of Ukraine. Part I is about dark money and Part II is about ESG’s related hidden power. Maria Prymachenko was a self-taught artist who became one of Ukraine’s artistic treasures and her brightly-colored “naȉve” works made her an icon of Ukrainian national identity. When the local museum outside of Kyiv housing much of her work was in flames from an attack by Russian forces, a man in the village reportedly risked his life to go in to the burning building and rescued 14 of her paintings, including one of two people shaking hands. Her art has now become a global symbol of Ukrainian culture, resistance and resilience. As leaders, citizens, consumers and investors, we can use our voices and our resources to help Ukraine, Natalie Jaresko, the former finance minister of Ukraine explained on my Electric Ladies … [Read more...] about 12 Steps You Can Take To Help Ukraine – Part III, From Its Former Finance Minister

The Biden administration, which wants everyone in the U.S. to have affordable access to high-speed internet by 2029, announced May 13, 2022, a $45 billion 'Internet for All (IFA)' initiative to pay for it. According to the U.S. Commerce Department, the initiative will provide "affordable, reliable, high-speed internet for everyone in America by the end of the decade." Administration and implementation of the program will be the responsibility of the U.S. Department of Commerce’s National Telecommunications and Information Administration (NTIA). The announcement about the IFA initiative came on the heels of news May 9, 2022, that the Biden administration had partnered with 20 broadband providers, including AT&T and Verizon, to improve their subsidized high-speed internet plans made available to low-income Americans through the Affordable Connectivity Program. Key Takeaways 'Internet for All (IFA)' is a $45 billion initiative to provide affordable high-speed broadband … [Read more...] about Biden’s New Plan To Expand Broadband Access

- A + A NEW DELHI (May 17): India is allowing “some relaxation” of its order restricting wheat exports to allow traders to meet prior commitments, according to the trade ministry. Futures fell as much as 3.8% in Chicago before paring losses. Wheat consignments that have been handed over to customs for examination, and registered in their systems on or before May 13, will be cleared for export, the ministry said in a statement. The government has also given the green light for a 61,500-ton shipment to sail from Kandla port to Egypt following a request from that government, it said. India, in a government order dated May 13, restricted wheat exports to avoid a domestic supply squeeze. In the notification, it made exceptions only for prior commitments made by private traders through irrevocable letters of credit, and for exports to countries that require wheat for food security needs, based on the requests of their governments. Shipments were curbed after record heat … [Read more...] about India tweaks wheat ban to let trade meet some commitments

- A + A KUALA LUMPUR (May 17): Sarawak Consolidated Industries Bhd (SCIB) has secured an engineering, procurement, construction and commissioning (EPCC) contract) worth RM36 million fom Masama Sdn Bhd. In a bourse filing on Tuesday (May 17), SCIB said its wholly-owned subsidiary SCIB Properties Sdn Bhd accepted the letter of award for the EPCC contract from Masama on Tuesday. SCIB said the EPCC contract is for road infrastructure projects in Sarawak and is expected to span from May 2022 to April 2023. “The contract secured will not have any effect on the issued share capital and the shareholding of substantial shareholders of the company. The contract secured is not expected to have any material effect on the net assets of SCIB and its group of companies for the financial year ending June 30, 2022 (FY22). “Any profits attributable to the group would be realised in stages over the tenure of the contract, based on the progress of the project. The contract secured … [Read more...] about SCIB bags RM36m EPCC contract in Sarawak

The group has announced that its four top executives involved in the submission of false information have paid a total of RM16 million in compounds issued by the SC. (Photo by Mohamad Shahril Basri/The Edge) - A + A KUALA LUMPUR (May 17): Financially troubled Serba Dinamik Holdings Bhd gained investors' interest and emerged as the top actively traded counter on the local bourse on Tuesday (May 17). The stock opened one sen or 8.33% higher at 13 sen and surged further to hit an intraday high of 22 sen. It ended the trading day 4.5 sen or 37.5% higher at 16.5 sen, giving it a market capitalisation of RM614.99 million. A total of 1.05 billion shares changed hands, representing 28.15% of its share issuance capital. Notably, shares in the oil and gas service provider resumed trading on May 9 after a six-month long suspension since October last year. The stock sank to a new low of six sen on May 11, which was the third day of resumption of trading. … [Read more...] about Serba Dinamik emerges as top actively traded stock, rises up to 22 sen

Ahmad Zahid (centre) was charged with committing all the offences at Seri Satria, Presint 16, Putrajaya and Country Heights, Kajang between October 2014 and March 2018. (Photo by Zahid Izzani Mohd Said/The Edge) - A + A SHAH ALAM (May 17): The High Court was on Tuesday (May 17) told that the minutes of former prime minister Datuk Seri Najib Razak to Datuk Seri Dr Ahmad Zahid Hamidi for the contract of Ultra Kirana Sdn Bhd (UKSB) to be extended as the sole operator of the foreign visa system (VLN) to Malaysia in China was not an order. UKSB director Datuk Fadzil Ahmad said even though Najib was the prime minister and the head of the Cabinet then, the power to approve the VLN contract was under the Home Ministry (KDN). “For me, the source and jurisdiction of authority [to extend the contract] of all my applications began only with KDN. It did not start at the PM’s office, so to me, the PM (Najib) can merely assist to expedite, not to give an order,” the witness … [Read more...] about Najib’s minutes to Zahid on visa contract not an order, says UKSB director

(CNN) The baby formula manufacturer at the heart of a nationwide formula recall said Monday that it has reached an agreement with the US Food and Drug Administration to enter into a consent decree, a legally binding agreement that would require the company to take certain steps in response to violations found at its Sturgis, Michigan, facility. If a court approves the agreement, the company says , it could restart the site within two weeks. It would first resume the production of its specialty metabolic formulas EleCare and Alimentum, followed by Similac and other formulas. After Abbott restarts the site, it will take six to eight weeks for the products to reach store shelves, it said. The Justice Department said Monday that it had filed the proposed consent decree in federal court. These families buy about half of infant formula nationwide. Here's how the Biden administration is trying to help them Abbott said it … [Read more...] about Abbott agrees to consent decree with FDA, could restart plant within 2 weeks, pending court approval

(CNN) The Biden administration is seeking to make it easier for low-income families to buy whatever baby formula is available on store shelves amid a nationwide shortage . About half of the infant formula in the US is purchased by those using federal WIC benefits, which allow them to obtain the formula for free but restrict what type, size and brand they can select. Some 1.2 million infants are in the WIC program, formally known as the Special Supplemental Nutrition Program for Women, Infants, and Children. Each state has a contract with a single manufacturer. Abbott Nutrition , which is contending with a massive recall of its formula , is the exclusive provider to about half of infants in WIC. The February recall has exacerbated shortages caused by ongoing supply chain issues, leaving all parents with fewer choices in many stores. President Joe Biden has come under fire for not addressing the problem sooner and for taking limited action . … [Read more...] about These families buy about half of infant formula nationwide. Here’s how the Biden administration is trying to help them