Overtime pay uk

- A + A KUALA LUMPUR (June 27): Costlier crude oil along with a stronger US dollar will erode Spritzer's Bhd profit margin, the bottled water producer admitted. "Costlier oil will translate into costlier PET resin, which is the main raw material used in making the [plastic] bottles. "PET resin is normally quoted in US dollar so a stronger US dollar would mean we will have to pay more for our PET resin," a company representative said in a brief email reply to theedgemarkets.com recently, when asked about the impact of surging oil prices on its manufacturing costs. According to the US-based PET Resin Association, PET — which is short for polyethylene terephthalate, the chemical name for polyester — is a clear, strong, and lightweight plastic made from crude oil and ethane extracted from natural gas that is widely used for packaging food and beverages, especially convenience-sized soft drinks, juices and water. Following Russia's incursion into Ukraine, oil prices … [Read more...] about Spritzer admits costlier crude oil, stronger US dollar will erode its profit margin

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A LAST week, CTOS Digital Bhd made a bold move to raise its stake in RAM Holdings Bhd (RAM), in which it already owns a 19.225% stake. This is the third acquisition that CTOS has undertaken within a year. CTOS, which bought into RAM shortly after it was listed in July last year, launched a general offer last week to buy out the remaining shares that it does not own in the credit rating agency (CRA) soon after it got the green light from the Securities Commission Malaysia (SC) to own more than 51%. CTOS has so far spent the bulk of the RM173.8 million raised from a private placement in March on mergers and acquisitions (M&A). RAM will be the first local CRA to have a controlling shareholder upon the completion of the takeover offer. Dollars and cents aside, the takeover bid has prompted some quarters to question whether the independence of RAM’s rating … [Read more...] about Making sense of CTOS’ venture into RAM

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A THE momentum to adopt environmental, social and governance (ESG) criteria and sustainability practices in the capital market has picked up significantly in the past few years. By the third quarter of 2021, assets in global sustainable funds hit a record high, according to investment research firm Morningstar. At the same time, more than 70 countries — including the biggest polluters — have set a net-zero target and over 1,200 companies have put in place science-based targets to reach net-zero emissions, according to the United Nations. In Malaysia, at least 44 out of the 54 Sustainable and Responsible Investment (SRI) funds approved by Securities Commission Malaysia were launched in the last two years. As at December 2021, 94% of the top 50 listed companies in Malaysia had ESG strategies and 68% had emissions reduction policies, according to PwC’s research. … [Read more...] about HONOURING MALAYSIA’S BEST PERFORMERS IN ESG EXCELLENCE: The Edge to roll out Malaysia’s first ESG awards

Datuk Seri Ahmad Zahid Hamidi seen at the High Court on Monday, June 27, 2022 for his money-laundering trial. (Photo by Shahrin Yahya/The Edge) - A + A KUALA LUMPUR (June 27): UMNO president Datuk Seri Ahmad Zahid Hamidi denied instructing law firm Messrs Lewis & Co, the trustee for funds belonging to Yayasan Akalbudi, to transfer more than RM59 million into a fixed deposit (FD) account. Zahid also told the High Court that the firm’s partner, B Muralidharan, told him that the fixed deposit account needed to be opened “by law” to manage the funds. However, the subsequent fund transfers happened without his knowledge, he said. “I categorically deny that I gave instructions to Messrs Lewis & Co or any lawyer or staff, including V Sothilechmy, to deposit the funds in the fixed deposit account,” Zahid said when reading his witness statement. Sothilechmy, the accountant for Lewis & Co, is the 85th prosecution witness in Zahid’s money-laundering trial, … [Read more...] about Zahid denies instructing trustee law firm to transfer RM59 mil of charity funds into FD

What makes A24 a cultural powerhouse is not that it released a film last spring in which an inter-dimensional assassin impales himself on an Auditor of the Month trophy, inexplicably shaped like a certain sex toy, although it most certainly did. It’s not that most cinephiles would immediately guess A24 as the company who put out that film, Everything Everywhere All at Once , even if its logo didn’t appear before the credits, although they probably would. No, what makes A24 a steady, sturdy phenomenon is that it started selling $60 designer candle replicas of that unlikely trophy just after the movie’s early-June digital release. advertisement advertisement Whether enough fans purchase the item—a collaboration with Brooklyn-based design studio, Joya —to justify its overhead cost is incidental. Everything Everywhere is now A24’s biggest hit ever , its $89 million box-office haul rendering the digital release a victory lap. The very existence … [Read more...] about I spent six weeks living in A24-world. Here’s what happened

Why pay $250 for a Nest Wi-Fi-connected thermostat when you can build your own? It sounds complicated–the kind of thing that might require at least a little bit of engineering experience–but it’s not. With the littleBits Cloud Module, a building block for Internet-connected gadgets announced at this week’s TED conference, that Nest-like thermostat just became a lot easier to build. advertisement advertisement “The Internet of Things” is one of those trendy, nebulous terms that many people kind of understand, but few people entirely grasp. Ayah Bdeir, founder and CEO of littleBits — a modern-day Lego set that lets anyone build electronic devices–had her first experience with the Internet of Things (physical devices that connect to the Internet and each other, like the aforementioned Nest thermostat) about a decade ago, when she encountered Internet 0 , a protocol that allows users to control physical objects remotely. “I went from being … [Read more...] about Now You Can Make Your Own Internet-Connected Gadgets, No Engineering Skills Required

People watch a game on court 2 on the first day of the 2022 Wimbledon Championships at The All England Tennis Club in Wimbledon, southwest London, on June 27, 2022. (Photo by Adrian DENNIS / AFP) Wimbledon chief executive Sally Bolton said Monday she was relieved the world’s top stars had showed up at the Grand Slam even though no ranking points will be on offer. Both the ATP and WTA, which control the men’s and women’s tours, removed the points after the All England Club banned Russian and Belarusian players in response to the invasion of Ukraine. It means players such as US Open champion Daniil Medvedev, Andrey Rublev, Aryna Sabalenka and Victoria Azarenka cannot play in London. Bolton, who said the decision to ban the players had been “incredibly difficult”, reiterated that Wimbledon organizers were disappointed with the decision taken by ATP and WTA. “We thought it was a disproportionate decision in the context of the situation we found ourselves in and in the context … [Read more...] about Wimbledon ‘relieved’ to host top stars despite loss of ranking points

Are we out of the woods with Covid-19? Have we reached the endemic stage? Should we adopt the mindset that the SARS-CoV-2 virus is just a part of our lives now and carry on as usual? Many people are walking around with more questions than answers as new SARS-CoV-2 viral variants emerge and case counts continue to fluctuate. Without a definitive answer as to what the next phase of the pandemic will look like, mental fatigue has set in for many during this Covid-19 limbo, as has anxiety, depression and persistent anger. “It’s been well over two years since the start of the pandemic, and of course, people are frustrated and anxious,” says Mayo Clinic Health System psychiatrist Dr Patrick Bigaouette. “When Covid-19 case counts tick back up, people are naturally nervous about whether it’s OK to go to a movie, send their child to school, or the possibility of increased Covid-related public policies. “The recurrent feeling of anxiety can be mentally fatiguing.” Research has … [Read more...] about Are you ‘pangry’? Pandemic anger is a real mental health concern

Amber Heard is not backing down yet. On Friday (June 24), the legal teams of Heard and ex-husband Johnny Depp convened at a Fairfax, Virginia, courtroom with Judge Penney Azcarate. Instead of finalising a settlement, Heard’s representatives said the actor will appeal the outcome of the six-week defamation trial. “As stated in yesterday’s congressional hearings, you don’t ask for a pardon if you are innocent. And you don’t decline to appeal if you know you are right,” a spokesperson for Heard said. The meeting comes just weeks after the contentious televised trial concluded on June 1. The jury awarded Depp US$15mil in damages, eventually downsized to slightly more than US$10mil per Virginia’s statutory limit, and US$2mil to Heard. According to Deadline, Azcarate told Heard’s attorney Elaine Bredehoft that the actor will have to pay an us$8.35mil bond and 6% yearly interest for the appeal to formally proceed. Bredehoft previously said that Heard is “absolutely not” able to … [Read more...] about Amber Heard announces that she’ll appeal verdict of defamation trial

Representative image In July 2017, India ushered in the Goods and Services Tax (GST) for levy and collection of taxes on inter-state supply of goods and services. Almost five years on, accountants complain of multiple glitches in the system hailed as the single biggest tax reform in post-independence India when it was introduced. For instance, the GST Act has failed to provide a system to address Centre-state and inter-state disputes, they said. Article 279A (11) of the Constitution enables the GST Council to institute a mechanism to resolve inter-state disputes, but no such system has been seriously contemplated so far. Also Read: GST at 5: A structural, economic analysis and prescriptions Close Today, the law only says that if GST has been wrongly paid to the Centre, there will be no interest liability and if tax has been wrongly paid to a state, it will be refunded. Moreover, there is a constant doubt still over the applicable rate of GST that makes … [Read more...] about GST at 5: Accountants still confront major issues in filing returns