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08/15/2022   Seattle PI Business

NEW YORK (AP) — Dollar General faces nearly $1.3 million in penalties after government inspectors visited three of the chain's stores in Georgia earlier this year and found worker-safety violations, federal regulators said Monday.

The Occupational Safety and Health Administration said its inspectors found obstructed exit routes, boxes of merchandise stacked unsafely and electrical panels that were hard to access. It said those were “violations often cited at Dollar General locations.”

Since 2017, OSHA has proposed more than $6.5 million in penalties after 78 inspections at Dollar General locations nationwide, including more than $450,000 in penalties as a result of three inspections in Georgia.

The agency said its inspectors frequently find unsafe conditions that put workers at risk and that could lead to disaster for employees and customers in an emergency.

“Dollar General continues to demonstrate a willful pattern of ignoring hazardous working conditions and a disregard for the well-being of its employees,” said Doug Parker, OSHA's assistant secretary of occupational safety and health. “Despite similar citations and sizable penalties in more than 70 inspections, the company refuses to change its business practices."

In response, Dollar General said that following the Georgia inspections, it took immediate action to address issues and reiterated its safety expectations with store teams.

“The safety of our employees and customers is of paramount importance to us, and we will continue to work cooperatively with OSHA," said the company based in Goodlettsville, Tennessee.

08/15/2022   Seattle PI Business

Stocks on Wall Street bounced back from an early slide and closed higher Monday, extending the market's recent winning ways as investors look ahead to several updates from retailers this week.

The S&P 500 rose 0.4% after having been down 0.5% in the early going. The benchmark index has risen for four straight weeks and is up 13.5% so far in the third quarter, although it's still lower for the year.

The Dow Jones Industrial Average rose 0.5% and the Nasdaq gained 0.6%. Smaller company stocks also rose, sending the Russell 2000 index 0.2% higher.

The market got off to a bumpy start as traders reacted to news overnight that China’s central bank cut a key interest rate, acknowledging more needed to be done to shore up its economy. The move is the latest warning for markets already on edge over record-high inflation and fears about recessions in the U.S. and elsewhere.

China is the world’s second-largest consumer of crude oil, so the news weighed on energy prices. U.S. crude oil prices slumped 2.9% on worries about the global economy and weighed heavily on energy stocks. Chevron fell 1.9%.

Treasury yields fell as a report showed manufacturing in New York state unexpectedly contracted. The yield on the 10-year Treasury, which banks use to set mortgage rates, fell to 2.79% from 2.83% late Friday.

Some big banks fell as bond yields declined. Capital One slid 1.8%.

Still, all but two of the 11 sectors in the S&P 500 closed higher. Technology stocks, retailers and other companies that rely on direct consumer spending accounted for a big share of the gains. Visa rose 2.4% and Costco added 1.6%.

Moderna rose 3.3% after British regulators authorized an updated version of its COVID-19 vaccine.

All told, the S&P 500 rose 16.99 points to 4,297.14. The Dow added 151.39...

08/15/2022   Seattle PI Business

Stocks recovered from early losses and ended higher on Wall Street.

Investors remain focused on the economy and upcoming reports from retailers this week. The S&P 500 rose 0.4% Monday after stumbling in early trading. The Dow Jones Industrial Average and Nasdaq also extended last week’s gains.

Oil prices dropped sharply on worries about the global economy. China’s central bank cut a key interest rate after acknowledging more needs to be done to shore up the world’s second largest economy. Treasury yields also fell, as manufacturing in New York state unexpectedly shrank.

On Monday:

The S&P 500 rose 16.99 points, or 0.4%, to 4,297.14.

The Dow Jones Industrial Average rose 151.39 points, or 0.4%, to 33,912.44.

The Nasdaq rose 80.87 points, or 0.6%, to 13,128.05.

The Russell 2000 index of smaller companies rose 4.73 points, or 0.2%, to 2,021.35.

For the year:

The S&P 500 is down 469.04 points, or 9.8%.

The Dow is down 2,425.86 points, or 6.7%.

The Nasdaq is down 2,516.92 points, or 16.1%.

The Russell 2000 is down 223.97 points, or 10%.

08/15/2022   Seattle PI Business

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday:

Exxon Mobil Corp.. down $1.68 to $92.32.

Energy stocks slipped along with falling crude oil prices.

Gilead Sciences Inc., up $3.25 to 66.21.

The drug developer gave investors an encouraging update on its breast cancer treatment.

Turquoise Hill Resources Ltd., down $2.95 to $23.30.

The copper and gold mining company rejected a buyout proposal from Rio Tinto.

Unity Software Inc., down $4.17 to $54.30.

The video gaming software company rejected a buyout offer from AppLovin and accepted a rival deal with ironSource.

Cardinal Health Inc., up 65 cents to $69.97.

Activist investor Elliott Management reportedly took a large stake in the healthcare products and services company.

Bank of America Corp., down 5 cents to $36.25.

Bond yields fell and weighed down bank stocks, which rely on higher yields to charge more lucrative interest on loans.

Moderna Inc., up $5.60 to 176.78.

British regulators authorized an updated version of the drug developer's COVID-19 vaccine.

Freeport-McMoRan Inc., down $1.12 to $30.50.

The copper mining company slipped along with prices for the base metal.

08/15/2022   Seattle PI Business

Kraft Heinz is recalling thousands of pouches of Capri Sun after some cleaning solution accidentally mixed with the juice on a production line.

The company said it’s recalling about 5,760 cases of Capri Sun Wild Cherry flavored juice blend. The “Best When Used By” date on the packages is June 25, 2023.

Kraft Heinz said the diluted cleaning solution is used on its food processing equipment. The company said it discovered that the solution had accidentally mixed with the juice after getting consumer complaints about the juice's taste.

Kraft Heinz, which is co-headquartered in Pittsburgh and Chicago, said in a statement Friday it is working with retailers to remove the product from circulation. Consumers who bought the affected Capri Sun should not consume it and should return it to the story where it was purchased to receive a refund.

08/15/2022   New York Times Business News
The Trader Joe’s Union Square store and wine shop had developed a following, with lines sometimes stretching out the door. It closed without warning last week.
08/15/2022   New York Times Business News
Heathrow Airport last month. The airport imposed a passenger cap in July, citing staff shortages that led to canceled flights, long lines and lost luggage.
08/15/2022   Seattle PI Business

WASHINGTON (AP) — The flagship climate change and health care bill passed by Democrats and soon to be signed by President Joe Biden will bring U.S. taxpayers one step closer to a government-operated electronic free-file tax return system.

It’s something lawmakers and advocates have been seeking for years. For many Americans, it's frustrating that beyond having to pay sometimes hefty tax bills, they also have to shell out additional money for tax preparation programs or preparers because of an increasingly complex U.S. tax system.

“It’s definitely something we should do, and when the IRS is adequately resourced, it’s something that will happen," said Treasury Secretary Janet Yellen at a June Senate Finance Committee hearing.

And now that the IRS is set to receive nearly $80 billion through the so-called “Inflation Reduction Act,” the agency has the means to develop new systems to help Americans pay their taxes. The legislation passed Congress on Friday.

Several hurdles stand in the way. Even in a best-case scenario, it will likely take years to get a new, free system up and running. There's also pushback from commercial tax preparation companies, which question whether Americans want the IRS to prepare their taxes.

Perhaps this biggest hurdle is an agreement between the IRS and some commercial tax preparation companies, known as the Free File Alliance, which prevents the federal agency from creating its own free tax return filing system. In short, the IRS agreed not create its own filing system if companies would instead provide free services to taxpayers making $73,000 or less.

That 16-year provision within the agreement was formally nixed in 2019, but tax experts and government reports say the program’s existence is largely responsible for the IRS not pursuing its...

08/15/2022   Seattle PI Business

STOCKHOLM (AP) — Norway's exports reached a record in July, driven mainly by natural gas prices that have soared since Russia's invasion of Ukraine.

The Scandinavian country’s statistics agency on Monday said Norwegian exports reached 229 billion kroner ($24 billion) last month, 0.4% higher than the previous record set in March this year.

Norway’s trade surplus of 153.2 billion kroner ($15.8 billion) also was the highest on record.

Norway, a major producer of offshore oil and gas, has seen energy exports surge as European countries scramble to find alternatives to Russian energy in response to Moscow's invasion of Ukraine.

Since the invasion, the EU has approved bans on Russian coal and most oil to take effect later this year, but it did not include Russian natural gas because the 27-nation bloc depends on gas to power factories, generate electricity and heat homes.

However, Russian President Vladimir Putin has weaponized gas exports to pressure the bloc into reducing its sanctions over the war in Ukraine or to push other political aims. The EU has been left scrambling to fill gas storage ahead of winter, when demand rises and utility companies draw down their reserves to keep homes warm and power plants running.

Statistics Norway said natural gas exports reached 128 billion kroner ($13.2 billion) in July, more than four times higher than in the same month last year.

Jon Olav Roerhus, senior adviser for external trade at Statistics Norway, said reductions in Russian gas deliveries to Europe through the Nord Stream 1 pipeline contributed to soaring gas prices last month, which were "the main reason for the exceptionally high export value we are now experiencing.”

At a one-day meeting of the five Nordic leaders in Oslo, Danish Prime Minister Mette Frederiksen said: “We...

08/15/2022   Seattle PI Business

LONDON (AP) — London's Heathrow Airport said Monday it will extend its cap on daily passenger numbers until the end of October as part of its efforts to cope with soaring demand for air travel amid staffing shortages.

The airport, one of Europe's busiest, said a maximum of 100,000 travelers can depart each day until Oct. 29. The daily cap was initially expected to be lifted on Sept. 11.

Heathrow imposed the temporary limit in July and told airlines to stop selling tickets during the peak summer travel season, saying the expected passenger traffic was more than airport ground staff could handle.

The airport said its temporary cap had resulted in “fewer last-minute cancellations” and “shorter waits for bags.”

It added the capacity limits would be kept under review and “could be lifted earlier should there be a sustained picture of better resilience and a material increase in resourcing levels."

Scores of summer flights into and departing from Heathrow have already been cancelled in recent months, and passengers have reported long waits at security, lost luggage and lengthy flight delays.

Booming demand for summer travel after two years of COVID-19 travel restrictions have overwhelmed European airlines and airports, which had laid off tens of thousands of pilots, cabin crew, check-in staff, ground crew and baggage handlers as the industry ground to a halt during the pandemic.

___

Follow all AP stories on pandemic developments at https://apnews.com/hub/coronavirus-pandemic

08/15/2022   New York Times Business News
An oil pump jack in a Central California field. Increased domestic production is one factor behind the decline in oil prices.
08/15/2022   Seattle PI Business

Starbucks on Monday asked the National Labor Relations Board to temporarily suspend all union elections at its U.S. stores, citing allegations from a board employee that regional NLRB officials improperly coordinated with union organizers.

In a letter to the board chairman and other officials, Starbucks said the unnamed career NLRB employee informed the company about the activity, which happened in the board's St. Louis office in the spring while it was overseeing a union election at a Starbucks store in Overland Park, Kansas.

The store is one of 314 U.S. Starbucks locations where workers have petitioned the NLRB to hold union elections since late last year. More than 220 of those stores have voted to unionize. The company opposes the unionization effort.

The Seattle coffee giant alleges that St. Louis labor board officials made special arrangements for pro-union workers to vote in person at its office when they did not receive mail-in ballots, even though Starbucks and the union had agreed that store elections would be handled by mail-in ballot.

In its letter, Starbucks referred to memos the regional office sent confirming that workers were allowed to come to the office and vote in person after the union told the regional office that some workers had not received ballots in the mail. The memos, citing “board protocol," said the workers voted alone in an empty office, according to Starbucks.

“Because observers were not present, no one can be sure who appeared to vote, whether NLRB personnel had inappropriate communications with the voters, told them how to vote, showed them how to vote or engaged in other undisclosed conduct," Starbucks wrote in its letter.

Starbucks said regional board officials also disclosed confidential information to the union, including which workers' ballots had arrived in the mail to be...

08/15/2022   New York Times Business News
The Moscow Exchange is taking steps to reopen its markets to countries that Russia considers to be friendly.
08/15/2022   Seattle PI Business

FORT LAUDERDALE, Fla. (AP) — Tracks used by the nation's deadliest railroad will see added fencing to keep pedestrians away and safety improvements at crossings under a $25 million federal grant announced Monday.

Brightline and government officials announced the grant as the privately owned passenger line continues to be plagued by deaths along its tracks between Miami and West Palm Beach.

In the past two weeks, Brightline trains have killed three people, and 68 since the service began its first runs five years ago. That’s about one death for every 33,000 miles (53,000 kilometer) its trains travel, and is the worst fatality rate among the nation’s more than 800 railroads, according to an ongoing Associated Press analysis of Federal Railroad Administration data.

The grant, part of the U.S. Department of Transportation's Rebuilding American Infrastructure with Sustainability and Equity program, will cover safety features, including 33 miles (53 kilometers) of fencing at locations of frequent trespassing along with extensive crossing improvements at all 333 crossings along the corridor, which will eventually stretch from Miami to Orlando, Brightline President Patrick Goddard said.

The company will also install an additional 150 warning signs and 170 more suicide crisis hotline signs “to better reach those who might be struggling with suicide," Goddard said.

None of the deaths involving Brightline have been blamed on the railroad, its equipment or its crews. Law enforcement investigations showed most victims were either suicidal, intoxicated, mentally ill or had gone around barriers at an intersection in an attempt to beat the trains, which travel up to 79 mph (128 kph) through densely populated areas with stops in Miami, Fort Lauderdale and West Palm Beach.

“We want...

08/15/2022   New York Times Business News
Adam Neumann is starting a new company called Flow, focused on the residential real estate market.
08/15/2022   New York Times Business News
A union campaign at Starbucks has secured more than 200 victories out of more than 250 elections.
08/15/2022   New York Times Business News
The cuts amount to about 14 percent of the people who report to Casey Bloys, the HBO and HBO Max chief content officer.
08/15/2022   Seattle PI Business

SALT LAKE CITY (AP) — Banks along parts of the Colorado River where water once streamed are now just caked mud and rock as climate change makes the Western U.S. hotter and drier.

More than two decades of drought have done little to deter the region from diverting more water than flows through it, depleting key reservoirs to levels that now jeopardize water delivery and hydropower production.

Cities and farms in seven U.S. states are bracing for cuts this week as officials stare down a deadline to propose unprecedented reductions to their use of the water, setting up what’s expected to be the most consequential week for Colorado River policy in years.

The U.S. Bureau of Reclamation in June told the states — Arizona, California, Colorado, Nevada, New Mexico, Utah and Wyoming — to determine how to use at least 15% less water next year, or have restrictions imposed on them. The bureau is also expected to publish hydrology projections that will trigger additional cuts already agreed to.

Tensions over the extent of the cuts and how to spread them equitably have flared, with states pointing fingers and stubbornly clinging to their water rights despite the looming crisis.

Representatives from the seven states convened in Denver last week for last minute negotiations behind closed doors. Those discussions have yet to produce concrete proposals, but officials party to them say the most likely targets for cuts are Arizona and California farmers. Agricultural districts in those states are asking to be paid generously to bear that burden.

The proposals under discussion, however, fall short of what the Bureau of Reclamation has demanded and, with negotiations stalling, state officials say they hope for more time to negotiate details.

“Despite the obvious urgency of the situation,...

08/15/2022   New York Times Business News
Disney is being pressured to spin off ESPN, the sports-focused division that has been its traditional profit engine.
08/15/2022   New York Times Business News
A clinician preparing doses of a Moderna vaccine at a vaccination center in London in December.
08/15/2022   New York Times Business News
Workers at Matro Luxe, one of Ukraine’s biggest mattress makers, which relocated to Ukraine’s western frontier.
08/15/2022   Tri-City Area Journal of Business

The Port of Kennewick celebrates the completion of the second phase of its Columbia Gardens Urban Wine & Artisan Village near the cable bridge with a ribbon-cutting at 2 p.m. Sept. 15.  The event was rescheduled after being canceled in July because of extreme heat.   The second phase added a new building with room for…

The post Port reschedules Columbia Gardens wine park event appeared first on Tri-Cities Area Journal of Business.

08/15/2022   New York Times Business News
A set of weak economic data and unexpected interest rate cuts in China led to a sharp sell-off, driven by concerns over sluggish demand in the world’s biggest oil importer.
08/15/2022   New York Times Business News
There are signs that the pause on payments and interest on most federal student loans will be extended past the end of this month. But the details on loan forgiveness remain unclear.
08/15/2022   Seattle PI Business

The top executive at Pfizer, a leading producer of COVID-19 vaccines, has tested positive for the virus and says he is experiencing very mild symptoms.

Chairman and CEO Albert Bourla said Monday that he started taking Pfizer’s Paxlovid pill treatment and is isolating while he recovers.

Bourla has received four shots of Comirnaty, the COVID-19 vaccine developed by the New York drugmaker along with BioNTech. He said in a brief statement issued by the company that he is confident of a quick recovery.

More than 128 million people in the United States have become fully vaccinated with Pfizer’s two-shot vaccine since it entered the market more than a year ago and almost 61 million have received an initial booster shot, according to the Centers for Disease Control and Prevention.

Scientists say the vaccine still offers solid protection against hospitalization and serious illness. But the evolving virus has made it tougher for vaccines to prevent all forms of illness from developing.

Pfizer and another vaccine maker, Moderna, are updating their shots to provide protection against newer versions of the virus for a fall booster campaign.

Paxlovid also has shown in research to be extremely effective at warding off serious illness if it is administered shortly after symptoms start.

Comirnaty and Paxlovid are the top-selling COVID-19 vaccine and treatment on the market. Combined, they brought in nearly $17 billion in sales for Pfizer during the recently completed second quarter.

08/15/2022   Seattle PI Business

BERLIN (AP) — German officials expressed mounting anger Monday at the slow flow of information from Poland as experts raced to discover what killed tens of thousands of fish in a shared border river and put up barriers used to contain oil spills in a bid to rein in the spread of fish carcasses.

German Environment Minister Steffi Lemke demanded a transparent and full investigation into the cause for the massive fish die-off in the Oder River after having met her Polish counterpart in the Polish border city of Szczecin on Sunday evening.

“There would be a massive loss of confidence, especially among the Polish population, but probably also among us, if this (investigation) did not succeed,” Lemke said Monday on ARD television.

The Oder runs from Czechia to the border between Poland and Germany before flowing into the Baltic Sea. Ten tons of dead fish were removed from it last week and people have been asked not to swim in it or even touch its waters. Authorities have not yet found the reason for the massive fish die-off.

Authorities on Monday were putting up sea barriers usually used during oil spills on the Szczecin Lagoon, where the river runs into the Baltic Sea, to prevent a possible spread of fish carcasses there, the German news agency dpa reported.

Since last Friday some 80 tons of dead fish have been collected, said Brig. Karol Kierzkowski, spokesman for Poland’s fire service.

Lemke also announced the two European Union countries have created a task force with experts to exchange updates on the investigation into the ecological disaster.

The state governor of Brandenburg, which borders Poland along the Oder River, criticized Polish authorities for their lack of information on the fish die-off.

The information about the environmental disaster has come only “in...

08/15/2022   Seattle PI Business

KYIV, Ukraine (AP) — A United Nations-chartered ship loaded with 23,000 metric tons of Ukrainian grain destined for Ethiopia was getting ready Sunday to set sail from a Black Sea port, the first shipment of its kind in a program to assist countries facing famine.

The Brave Commander cargo ship plans to leave the Ukrainian port of Yuzhne, east of Odesa, and sail to Djibouti, where the grain will be unloaded and transferred to Ethiopia under the World Food Program initiative.

Ukraine and Russia reached a deal with Turkey on July 22 to restart Black Sea grain deliveries, addressing the major export disruption that has occurred since Russia invaded Ukraine in February.

Ethiopia is one of five countries that the U.N. considers at risk of starvation.

“The capacity is there. The grain is there. The demand is there across the world and in particular, these countries," Denise Brown, the U.N. resident coordinator in Ukraine, told The Associated Press. “So if the stars are aligned, we are very, very hopeful that all the actors around this agreement will come together on what is really an issue for humanity. So today was very positive.”

On the front line, Russian forces fired rockets Sunday on the Mykolaiv region in southern Ukraine, killing at least one person. That region is just north of the Russian-occupied city of Kherson, which Ukrainian forces have vowed to retake. The Ukrainian emergency service said one person was killed in shelling early Sunday of the village of Bereznehuvate in Mykolaiv.

A Russian diplomat, meanwhile, called on Ukraine to offer security assurances so international inspectors could visit a nuclear power station in Ukraine that has come under fire.

As fighting steps up in southern Ukraine, concerns have grown sharply about the Zaporizhzhia nuclear power...

08/15/2022   New York Times Business News
A security guard at an office of ByteDance, the Chinese internet company that owns TikTok, in Beijing in 2020.
08/15/2022   New York Times Business News
Molly Nicholie, who has three boys, shops for snacks and staples at Dickies Discount Food in Woodfin, N.C. She spends the money she saves on local produce at the farmers’ market.
08/15/2022   Seattle PI Business

WASHINGTON (AP) — The U.S. imposed sanctions Monday on three high-ranking Liberian government officials for engaging in alleged public corruption.

President George Weah's chief of staff, the nation's chief prosecutor and the current managing director of the national port authority have been designated by the Treasury Department’s Office of Foreign Assets Control for sanctions.

Liberia was battered by back-to-back civil wars that left 200,000 people dead and displaced half of the country’s population. Public corruption has been a persistent problem, which has prevented economic development in an otherwise resourceful country of more than 5 million people.

A Treasury Department statement reads that the U.S. is “committed to working with the people and Government of Liberia to elevate countering corruption as a priority, including by bolstering public sector anti-corruption capacity.”

Sanctioned individuals are Nathaniel McGill, chief of staff to President Weah; Sayma Syrenius Cephus, Liberia's chief prosecutor; and Bill Twehway, the current managing director of the National Port Authority.

The sanctions are authorized under an executive order signed during Donald Trump's presidency, which implements the Global Magnitsky Human Rights Accountability Act and targets perpetrators of human rights abuse and corruption around the world.

“Through their corruption these officials have undermined democracy in Liberia for their own personal benefit,” said Brian E. Nelson, Treasury's Under Secretary for Terrorism and Financial Intelligence in a statement.

“Treasury’s designations today demonstrate that the United States remains committed to holding corrupt actors accountable and to the continued support of the Liberian people," he said.

At the State Department, spokesman Ned Price...

08/15/2022   Seattle PI Business

KYIV, Ukraine (AP) — At least three Ukrainian civilians have been killed and 20 others wounded in the latest artillery barrages from the Russian military, Ukrainian officials said Monday.

The eastern region of Donetsk, one of the two provinces making up the country’s industrial heartland of Donbas that has been the focus of a Russian offensive, has faced the most intense shelling.

Regional officials said at least three people died and another 13 were wounded by Russian shelling that hit numerous towns and villages in the Donetsk region during the last 24 hours. The barrage has damaged dozens of residential buildings and civilian infrastructure.

In the country’s second-largest city of Kharkiv, seven civilians were wounded in the latest Russian shelling that hit residential buildings and an area near a bus stop early Monday. Kharkiv Gov. Oleh Synyehubov said the wounded included a 80-year-old woman.

The Russian forces also struck several other regions of Ukraine with rockets and artillery.

Russian Defense Ministry spokesman Lt. Gen. Igor Konashenkov said Monday that Russian warplanes have struck Ukrainian army positions in the southern Kherson region and in the Donetsk region. He added that the Russian air force also hit a facility in the Kharkiv region, killing at least 100 and wounding 50 “mercenaries” from Poland and Germany. His claims couldn't be independently verified.

Speaking at the opening of an arms show outside Moscow, Russian President Vladimir Putin hailed the military's actions in Ukraine, declaring that it “fights for Russia ... and fulfilling all the tasks that were set, liberating the Donbas step by step.” He also vowed to expand arms sales to Russian allies, whom he praised for continuing to offer firm support to Moscow in the face of Western...

08/15/2022   Seattle PI Business

BERLIN (AP) — Germans are facing a new tax on natural gas use that could cost the average household several hundred euros a year and is aimed at rescuing importers slammed by Russian cutbacks tied to the war in Ukraine.

An association of gas pipeline operators on Monday set the level at 2.4 euro cents per kilowatt hour under legislation passed by the German parliament, which had an expected range of 1 to 5 cents. The tax on gas that is used to heat homes in winter and generate electricity is set to take effect in October and run through the beginning of April. It will not show up in utility bills until November or December.

Vice Chancellor Robert Habeck has said the tax will mean added costs of several hundred euros per year for an average household. The government is seeking ways to soften the blow through financial assistance for poorer households and a proposed break on value-added tax. Chancellor Olaf Scholz tweeted Monday that “we will leave no one behind" amid the higher costs.

The gas tax will raise money to compensate importers of Russian gas whose contracts with city utilities do not permit them to pass on the costs of surging natural gas prices. Russia has sharply cut back supplies of natural gas that costs less under long-term contracts, forcing importers to purchase much more expensive gas on the spot market to fulfill their obligations.

The government has agreed to bail out the largest importer, Uniper. Habeck said that 12 importers have applied for help and would receive 34 billion euros ($34.7 billion), or about 90% of their exceptional costs, the dpa news agency reported.

He said Monday that the choice was not between a tax and no tax: “The alternative would have been the collapse of the German energy market.”

Energy-intensive businesses urged the...

08/15/2022   New York Times Business News
A Times journalist spent three months capturing a contemporary portrait of Hungary’s capital, where he lived for several years as a child in the early ’90s.
08/15/2022   Seattle PI Business

MOSCOW (AP) — Lawyers for American basketball star Brittney Griner have filed an appeal of her nine-year Russian prison sentence for drug possession, Russian news agencies reported Monday, amid talks between the U.S. and Russia that could lead to a high-profile prisoner swap.

Griner, an eight-time all-star center with the WNBA’s Phoenix Mercury and two-time Olympic gold medalist, was convicted Aug. 4 after police said they found vape canisters containing cannabis oil in her luggage at Moscow’s Sheremetyevo Airport.

Griner admitted that she had the canisters in her luggage, but said she had inadvertently packed them in haste and that she had no criminal intent. Her defense team presented written statements that she had been prescribed cannabis to treat pain.

Her February arrest came at a time of heightened tensions between Moscow and Washington, just days before Russia sent troops into Ukraine. At the time, Griner, recognized as one of the greatest players in WNBA history, was returning to Russia, where she plays during the U.S. league’s offseason.

Lawyer Maria Blagovolina was quoted by Russian news agencies on Monday as saying the appeal was filed, as was expected, but the grounds for it weren't immediately clear.

The nine-year sentence was close to the maximum of 10 years, and Blagovolina and co-counsel Alexander Boykov said after the conviction that the punishment was excessive. They said that in similar cases defendants have received an average sentence of about five years, with about a third of them granted parole.

Before her conviction, the U.S. State Department declared Griner to be “wrongfully detained" — a charge that Russia has sharply rejected.

Reflecting the growing pressure on the Biden administration to do more to bring Griner home, U.S. Secretary of...

08/15/2022   Seattle PI Business

CARACAS, Venezuela (AP) — Public school teachers across Venezuela had planned to use their annual vacation bonus to buy uniforms for their children, waterproof leaky roofs, get new prescription glasses or fix the pair barely held together by adhesive tape.

Some expected to get $100, while others calculated a little more or less depending on their years of service and advanced degrees, though only a small number thought they would get around $200.

The government, however, paid them only a tiny fraction of that.

So, a few days into their long break, teachers have been marching by the thousands around the country, threatening to strike when school resumes or possibly even to abandon their profession.

“Right now, I don’t even have a pencil for my children to start classes in September,” said Florena Delgado, who teaches first and fifth grades at two schools in one of the lowest-income neighborhoods of the capital, Caracas.

She also makes cake toppers, creates balloon decorations and sells clothes to supplement her government pay. Unless something changes, “I don’t plan to join classes, and well, let it be what God wants,” she says.

In response to the unrest, the government announced Friday through a lawmaker that it will pay the bonus in full this week. But Venezuela's teachers are long accustomed to seeing televised economic promises that aren't kept, so they are waiting until they get their money before changing course.

Elementary and high school educators in the crisis-wrecked country on average earn about $50 a month, ranking among the lowest paid in Latin America. The government pays them a vacation bonus in a single payment at the end of every school year in July.

The National Budget Office based this year's bonus on the $1.52 monthly minimum wage of 2021 instead...

08/15/2022   Seattle PI Business

BANGKOK (AP) — Recent executions of four democracy activists in Myanmar have reenergized efforts to get the United States and other countries to impose further sanctions against military leaders who ousted an elected government early last year.

Human rights advocates and comments by U.S. lawmakers suggest the Senate is inching toward passage of the Burma Act, legislation already passed by the House of Representatives. Among other actions, it would pave the way for sanctions on Myanmar Oil and Gas Enterprise, or MOGE, a state-controlled company that is a vital source of hard cash for the impoverished nation.

That makes MOGE a key target in the push to cut off funding for the military’s efforts to quash a widespread public backlash against its February 2021 seizure of power.

Myanmar, also called Burma, has been ruled by the military for most of the past 70 years. The army’s takeover interrupted a gradual transition toward democratic civilian government and a more modern, open economy and resulted in a slew of sanctions against the military, which controls many industries, army family members and cronies.

The hangings in late July of four political activists prompted condemnation and stronger calls from U.S. lawmakers and others f or Myanmar’s neighbors, especially the 10-member Association of Southeast Asian Nations, to exert more pressure on the country’s military rulers.

“It is time for them to impose meaningful consequences on the junta in Burma that is literally getting away with murder,” Senate Minority Leader Mitch McConnell, a supporter of ousted Myanmar civilian leader Aung San Suu Kyi, said in a recent statement. If Myanmar’s neighbors and ASEAN won’t do more, the U.S. should “turn up the heat” on the army and its sources of financial support, he said.

“This...

08/15/2022   New York Times Business News
Not looking back.
08/15/2022   Small Business CEO

The post Top Jobs for Extroverts appeared first on SMALL BUSINESS CEO.

If you’re someone who always seems to take charge of any given situation, a job in business leadership might be right for you. Extroverted people just have a knack for getting things done, making people want to listen and are usually quite good at rectifying sticky situations without breaking a sweat. Since you’re naturally outgoing, you need to work in a role that lets you make the most positive traits.

Lawyer meeting with clients

If you’re still trying to decide which role is right for you, you’ve come to the right place. Read on to discover which jobs are best for extroverts who want to let their leadership skills shine through.…

08/15/2022   New York Times Business News
Denae Bettis, center, supplements her income as a makeup artist by doing deliveries for DoorDash and Instacart.
08/14/2022   New York Times Business News
Shoppers have poured back onto Tokyo’s streets in recent months.
08/14/2022   New York Times Business News
The threat was in response to J.K. Rowling’s tweet that the assault on the novelist Salman Rushdie was “Horrifying news.”
08/14/2022   New York Times Business News
Fears of pointless consumerism were no match for the joy and relief our gear provided.
08/12/2022   Tri-City Area Journal of Business

When Bunim Laskin was a kid in New Jersey, he was always looking for things to do. “I am the oldest of 12 kids,” he said. “And growing up, I never attended summer camp.” One day during a long, hot summer, Laskin eyed his neighbor’s swimming pool. “I convinced the neighbor to let me use…

The post Tri-City homeowners take the plunge into pool rentals appeared first on Tri-Cities Area Journal of Business.

08/12/2022   Tri-City Area Journal of Business

Pasco’s not-so-sleepy east side is getting yet another massive new development. Tarragon LLC, a Seattle development firm that builds industrial, residential, retail and mixed-use projects, submitted plans for an industrial complex with eight buildings totaling 2.1 million square feet on South Road 40 East, near Sacajawea State Park, to the city of Pasco. The combined…

The post More big development<br>coming to Pasco’s east side appeared first on Tri-Cities Area Journal of Business.

08/12/2022   Tri-City Area Journal of Business

The Reach Museum survived the pandemic, increasing admissions beyond pre-pandemic levels, celebrating its eighth anniversary and looking to the future with hope for an expansion at its Richland facility overlooking the Columbia River. “It’s really a milestone for us,” said Rosanna Sharpe, executive director. The museum was meeting its goals before the Covid-19 pandemic forced…

The post Richland’s Reach Museum emerges<br>from pandemic leaner and stronger appeared first on Tri-Cities Area Journal of Business.

08/12/2022   Tri-City Area Journal of Business

LifePoint publishes Trios, Lourdes benefit reports LifePoint Health, parent to Trios Health in Kennewick and Lourdes Health in Pasco, reports both hospitals continued their missions in twin 2021 community benefit reports. Trios Health welcomed new providers, expanded service lines and added 58 employees while investing more than $21.6 million in new construction, notably its new…

The post Business Briefs – August 2022 appeared first on Tri-Cities Area Journal of Business.

08/12/2022   Tri-City Area Journal of Business

Have unwanted stuff lying around? Perhaps a whole houseful? Tri-City estate liquidators can help, offering a variety of selling formats including traditional tag sales, auctions and direct purchases. Estate sales aren’t just for the elderly, or even estates. Rick Craig, owner of Craig Estate Sales, has been running in-home tag sales throughout the Columbia Basin…

The post Estate liquidation professionals help Tri-Citians clear out clutter appeared first on Tri-Cities Area Journal of Business.

08/12/2022   Tri-City Area Journal of Business

High schoolers with an after-school job will be able to receive credits for their work starting next fall. We agree. They should get credit for their work experience along with their paycheck.  Any student who can successfully manage their school coursework and a part-time job is learning valuable life skills – ones you typically can’t…

The post After-school jobs will soon help students graduate appeared first on Tri-Cities Area Journal of Business.

08/12/2022   Tri-City Area Journal of Business

Surprisingly, recent U.S. presidents and congressional Democrats and Republicans agree America’s economic and national security hinge upon tiny, yet powerful semiconductors. Semiconductor computer chips are the brains of modern electronics that operate our laptop computers, vehicles and smartphones. They permeate every sector of our lives, from farming and manufacturing to health care and public safety.…

The post The Northwest must reclaim its lost semiconductor edge appeared first on Tri-Cities Area Journal of Business.

08/12/2022   Tri-City Area Journal of Business

Summertime during an election year is a busy time, and not just for the candidates who are ringing doorbells, walking in parades and working the phones to rally support. It’s also a busy time for the Association of Washington Business. For the last two months, our Government Affairs team has coordinated and hosted dozens of…

The post Employers can study up now for November elections appeared first on Tri-Cities Area Journal of Business.

08/12/2022   Tri-City Area Journal of Business

By Karina EliasSpokane Journal of Business The director of the Washington Policy Center’s Eastern Washington office has announced he will step down in September to become the president and CEO of a new think tank organization, Mountain States Policy Center. Chris Cargill, 41, has been with Washington Policy Center for the past 13 years. His…

The post Newly formed Mountain States Policy Center hires WPC director appeared first on Tri-Cities Area Journal of Business.

08/12/2022   Small Business CEO

The post 6 Ways The Richard Yu Scholarship Is Empowering Young Entrepreneurs appeared first on SMALL BUSINESS CEO.

Over the past few years, we have seen an increase in young entrepreneurs starting their businesses. This is a significant trend, and it is essential to support these young entrepreneurs as they work to build their businesses. One way we can do this is by providing them with access to resources and education. This scholarship provides opportunities for young entrepreneurs to learn from some of the best minds in the business.

Scholarship

This article will discuss five ways the Richard Yu Scholarship empowers young entrepreneurs.

Who Are Young Entrepreneurs?

Young entrepreneurs are defined as individuals who are between the ages of 18 and 35.…

08/12/2022   Small Business CEO

The post 5 Tips For First-Time Insurers appeared first on SMALL BUSINESS CEO.

After buying your first car, you get filled with emotions like glee and excitement. The total freedom a car offers someone is borderline indescribable. Your first instinct, and understandably so, is to protect your wheels at all costs.

First-time insurers

The world of auto insurance can be tricky if you let unscrupulous companies pull the wool over your eyes. Take the time to do in-depth research into the policies and products available on the market, and find a way to make those options work for you and your situation.

Insurance can be easily navigated, but you must understand a few core elements first.…

08/12/2022   Small Business CEO

The post Six Cloud Marketplaces You Should Consider For Your Products appeared first on SMALL BUSINESS CEO.

You’ve just created mind-blowing software that will change the industry as we know it. But there’s a problem: you’re not quite sure how to get it in front of potential customers. You could try the traditional route and approach big companies directly, but that takes time, money, and a lot of convincing. A better option might be to sell your software on a cloud marketplace.

Amazon online marketplace

There are many marketplaces to choose when selling your products or services on the cloud. In this article, we’ll take a look at some of the best cloud marketplaces, and we’ll discuss the pros and cons of each one so you can decide which one is right for you.…

08/11/2022   Small Business CEO

The post Are Smartphones Good Enough to Shoot a Professional Video With? appeared first on SMALL BUSINESS CEO.

Smartphones are continuing to get better and better, with more powerful cameras and features. But are they good enough to shoot a professional video with? Are they good enough to record high-quality content for your business or next venture?

Product marketing using smartphone video recording

We’re focusing on this today, bringing together everything you need to know when producing video content for your business and how you invest in content marketing ventures.

What to Consider When Recording Video for Business

Let’s start with the basics.

When recording video for your business, your production quality is everything. The thing is, nowadays, high-quality video content is everywhere, and it’s important you take time to stand out from the crowd.…

08/11/2022   Small Business CEO

The post The Best Keyboard for Typing and Gaming: What You Need to Know to Find the Best One appeared first on SMALL BUSINESS CEO.

When it comes to using your computer, keyboard usage is arguably one of the most important aspects. In fact, you’ll probably spend more time typing than anything else. After all, you can’t very well game or enjoy a video without first typing up some text!

Keyboard

Image Source: FreeImages

If you spend a lot of time typing and gaming on your computer, then you know how crucial finding the right keyboard is. The right keyboard can make all the difference when it comes to both performance and comfort. After all, even something as small as an awkward layout can be a real hindrance over time.…

08/11/2022   Small Business CEO

The post Is Retail Dying in 2022? The Future of E-Commerce appeared first on SMALL BUSINESS CEO.

The narrative that retail is dying is quite popular among many e-commerce players. But is the industry actually collapsing? While we hear horror stories about retail bankruptcies in the media and the horrendous aftermath of the pandemic for many businesses, in the past year, retail sales have gone up again. Experts project that by 2025, retail profit will reach at least $30 trillion globally.

Ecommerce

Despite the slight increase in retail’s success, it’s safe to say that retail is on the verge of disruption. The high customer demands and the need for convenient, digital services force many businesses to adapt, which means switching to the electronic world.…

08/10/2022   Small Business CEO

The post Business Intelligence Consulting: Unlocking the Potential of Big Data appeared first on SMALL BUSINESS CEO.

Data-driven decisions are critical to the success of any business. Yet, many organizations struggle to unlock the 100% potential of their data. That’s where business intelligence (BI) consulting comes in. Business intelligence consulting services help to make sense of data to make better decisions.

Business intelligence consulting

There are many different types of business intelligence services. Of course, it is best to get assistance with every business aspect. And here are the key business consulting services an entrepreneur might need soon.

1. Business Strategy Development

Many advisory materials will yell that you need a strategy. But where to start, and what does that vague concept mean?…

08/10/2022   Small Business CEO

The post Questions to Ask Before Buying a Wall Bed for Your Rental Property appeared first on SMALL BUSINESS CEO.

Buying an affordable, high-quality wall bed for your rental property can be challenging, especially if you’re first-time buyer. Lack of information on wall beds can be troublesome if you’re interested in buying one. So, if you’re planning to go to a furniture shop to buy Lori wall beds, don’t forget to ask some of the most important questions enumerated in this article. When you get the answers you need, and if you are satisfied by them, you can proceed with the purchase.

Wall bed

photo credit: Les Stockton / Flickr

Wall Beds

Lori wall beds, or also known as Murphy beds, are a great addition to homes or rooms with limited space.…

08/09/2022   Small Business CEO

The post 5 Ways to Maximize Your Audit’s Feedback appeared first on SMALL BUSINESS CEO.

Getting audited can be a nerve-wracking experience, but it doesn’t have to be. By preparing for your audit and maximizing your feedback, you can turn this process into an opportunity to improve your business.

This article will discuss five ways to make the most of your audit. Follow these tips, and you will be on your way to improving your business.

Auditing

What Exactly Is An Audit?

An audit is an objective examination of your financial statements. An auditor will examine your company’s records to ensure they are accurate and in compliance with generally accepted accounting principles (GAAP). This process can be intimidating, but it doesn’t have to be.…