Monday, July 4

Tag: Business News

Add Rent to the Rising Costs Bedeviling Small Businesses | Business News
Business

Add Rent to the Rising Costs Bedeviling Small Businesses | Business News

By MAE ANDERSON, AP Business WriterNEW YORK (AP) — The rent has come due for America’s small businesses and at a very inopportune time.Landlords were lenient about rent payments during the first two years of the pandemic. Now, many are asking for back rent, and some are raising the current rent as well. Meanwhile, most of the government aid programs that helped small businesses get through the pandemic have ended while inflation has sharply pushed up the cost of supplies, shipping, and labor.Martin Garcia, owner of gift and décor store Gramercy Gift Gallery in San Antonio, Texas, survived the first part of the pandemic in part by paying his landlord whatever rent he could each month. Then in August 2021, after the federal moratorium on evictions ended, his landlord asked for the full amoun...
Japan’s Toshiba Shareholders Approve 13 Nominations to Board | Business News
Business

Japan’s Toshiba Shareholders Approve 13 Nominations to Board | Business News

By YURI KAGEYAMA, AP Business WriterTOKYO (AP) — Toshiba shareholders approved 13 nominated directors to its board Tuesday, as the Japanese technology giant struggles to restore its one-time glory and set a clear leadership direction.Chief Executive Taro Shimada, who oversaw the annual shareholders’ meeting in Tokyo, said the majority had voted to OK that plan.He promised shareholders Toshiba Corp. would forge ahead with clean energy, infrastructure projects, data services, devices and storage. He stressed the Tokyo-based company had boosted profits for the latest fiscal year, ended in April, to 194.7 billion yen ($1.4 billion), up from 114 billion yen the previous fiscal year.By 2030, Toshiba is aiming for 5 trillion yen ($37 billion) in annual sales, up from about 3 trillion yen ($22 bil...
Biden Says He’s Considering a Gasoline Tax Holiday | Business News
Business

Biden Says He’s Considering a Gasoline Tax Holiday | Business News

By AAMER MADHANI, Associated PressREHOBOTH BEACH, Del. (AP) — President Joe Biden said Monday that he's considering a federal holiday on the gasoline tax, possibly saving U.S. consumers as much as 18.4 cents a gallon.“Yes, I’m considering it,” Biden told reporters after taking a walk along the beach. “I hope to have a decision based on the data — I’m looking for by the end of the week.”The administration is increasingly looking for ways to spare the public from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February. Gas prices nationwide are averaging just under $5 a gallon, according to AAA.The Biden administration has already released oil from the U.S. strategic reserve and increased ethanol blending for the summer, in additional to ...
South Coast Business & Technology Awards Laud Local Innovators | Business
Science

South Coast Business & Technology Awards Laud Local Innovators | Business

Posted on June 18, 2022 | 3:46 p.m. Ceremony grosses more than $287,000 for Scholarship Foundation of Santa Barbara Kurt Ransohoff, left, Kirsten McLaughlin, Kathy Odell, Matt Rowe, Savannah Hunt, Michael Crandell, Ron Werft, and Charles Fenzi. (Emily Hart Roberts) Ten standout organizations and individuals were honored at the 2022 South Coast Business & Technology Awards ceremony June 16 at the Hilton Santa Barbara Beachfront Resort. The annual awards event celebrates innovation, leadership and success in ...
WTO Ministers Reach Deals on Fisheries, Food, COVID Vaccines | Business News
Business

WTO Ministers Reach Deals on Fisheries, Food, COVID Vaccines | Business News

By JAMEY KEATEN, Associated PressGENEVA (AP) — After all-night talks, members of the World Trade Organization early Friday reached a string of deals and commitments aimed to limit overfishing, broaden production of COVID-19 vaccines in the developing world, improve food security and reform a 27-year-old trade body that has been back on its heels in recent years.WTO Director-General Nzogi Okonjo-Iweala, after a pair of sleepless nights in rugged negotiations, concluded the WTO’s first ministerial conference in 4-1/2 years by trumpeting a new sense of cooperation at a time when the world faces crises like Russia's war in Ukraine and a once-in-a-century pandemic that has taken millions of lives.“The package agreements you have reached will make a difference to the lives of people around the w...
FAA Says Future Planes Will Need to Reduce Carbon Emissions | Business News
Business

FAA Says Future Planes Will Need to Reduce Carbon Emissions | Business News

WASHINGTON (AP) — The Biden administration proposed Wednesday that future planes produce lower levels of greenhouse gas emissions before they can be certified by federal regulators.The Federal Aviation Administration proposal would increase fuel-efficiency standards for jets and large turboprop and propeller-driven planes that it has not yet certified, and for planes built after Jan. 1, 2028.The FAA will develop means to determine the relationship between fuel efficiency and reductions in carbon dioxide emissions.The rule, if made final, would cover large airliners under development, including Boeing's 777-X and new versions of its 787 and the Airbus A330neo, plus various business jets and other planes. The FAA said the rule would bring the United States in line with carbon dioxide emissio...
China’s Trade Rebounds in May as Anti-Virus Curbs Ease | Business News
Business

China’s Trade Rebounds in May as Anti-Virus Curbs Ease | Business News

By JOE McDONALD, AP Business WriterBEIJING (AP) — China’s trade growth rebounded in May after anti-virus restrictions that shut down Shanghai and other industrial centers began to ease.Exports surged 16.9% over a year earlier to $308.3 billion, up from April’s 3.7% growth, a customs agency statement said Thursday. Imports rose gained 4.1% to $229.5 billion, accelerating from the previous month’s 0.7%.China’s trade has been dampened by weak export demand and curbs imposed to fight outbreaks in Shanghai, site of the world’s busiest port, and other cities. Consumer demand was crushed by rules that confined millions of families to their homes.Forecasters have cut estimates for China’s economic growth to as low as 2% this year, well below the ruling Communist Party’s target of 5.5%. Some expect...
Russia Hits Kyiv With Missiles; Putin Warns West on Arms | Business News
Business

Russia Hits Kyiv With Missiles; Putin Warns West on Arms | Business News

By JOHN LEICESTER, Associated PressKYIV, Ukraine (AP) — Russia took aim Sunday at Western military supplies for Ukraine, launching airstrikes on Kyiv that it claimed destroyed tanks donated from abroad, as Vladimir Putin warned that any Western deliveries of longer-range rocket systems would prompt Moscow to hit “objects that we haven't yet struck.”The Russian leader's cryptic threat of military escalation did not specify what the new targets might be. It came days after the United States announced plans to deliver $700 million of security assistance for Ukraine that includes four precision-guided, medium-range rocket systems, as well as helicopters, Javelin anti-tank systems, radars, tactical vehicles and more.Military analysts say Russia hopes to overrun Ukraine's embattled eastern indus...
China’s Russia Dealings Irk US, but Don’t Breach Sanctions | Business News
Business

China’s Russia Dealings Irk US, but Don’t Breach Sanctions | Business News

By JOE McDONALD, AP Business WriterBEIJING (AP) — China’s support for Russia through oil and gas purchases is irking Washington and raising the risk of U.S. retaliation, foreign observers say, though they see no sign Beijing is helping Moscow evade sanctions over its war on Ukraine.Beijing's importance as a lifeline to Russian President Vladimir Putin rose Monday after the 27-nation European Union, the main market for fossil fuels that supply most of Moscow's foreign income, agreed to stop oil purchases.President Xi Jinping’s government declared ahead of Russia's Feb. 24 attack that it had a “no limits” friendship with Moscow and has kept the West guessing about whether it might bail Putin out.China rejects the sanctions as illegal because the United States, Europe and Japan cut off Russia...
Biden Launches Indo-Pacific Trade Deal, Warns Over Inflation | Business News
Business

Biden Launches Indo-Pacific Trade Deal, Warns Over Inflation | Business News

By JOSH BOAK and AAMER MADHANI, Associated PressTOKYO (AP) — President Joe Biden on Monday launched a new trade deal with 12 Indo-Pacific nations aimed at strengthening their economies as he warned Americans worried about high inflation that it was “going to be a haul” before they feel relief. The president said he does not believe an economic recession is inevitable in the U.S.Biden, speaking at a news conference after holding talks with Japan’s Prime Minister Fumio Kishida, acknowledged the U.S. economy has “problems” but said they were "less consequential than the rest of the world has.”He added: “This is going to be a haul. This is going to take some time," even as he rejected the idea a recession in the U.S. was inevitable.The comments came just before Biden's launch of the Indo-Pacif...