Tensions Grow Over Ukraine With the Trading of Threats | Business News

Tensions Grow Over Ukraine With the Trading of Threats | Business News

By ELLEN KNICKMEYER and VLADIMIR ISACHENKOV, Associated Press

WASHINGTON (AP) — U.S. Secretary of State Antony Blinken met face-to-face with his Russian counterpart on Thursday to demand Russia pull back troops from the border with Ukraine, as tensions and suspicions grow in a confrontation over Ukraine’s increasingly close ties with NATO and the West.

Russia on one side and Ukraine, the U.S. and its NATO allies on the other traded fresh accusations and threats. The West, fearing that Moscow could invade Ukraine, threatened the Kremlin with the toughest sanctions yet if it launches an attack. Russia, seeing new U.S. and European support for Ukraine’s military, sternly warned that any presence of NATO troops and weapons on Ukrainian soil represents a “red line.”

Fears that Russia would invade its neighbor or seek to undermine the government of Ukrainian President Volodymyr Zelenskyy have dominated Blinken’s travels this week to meet with European allies.

Blinken and Russian Foreign Minister Sergey Lavrov met Thursday on the sidelines of a ministerial meeting of the Organization for Security and Cooperation in Europe in Stockholm, Sweden.

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“The United States and our allies and partners are deeply concerned by evidence that Russia has made plans for significant aggressive moves against Ukraine, including efforts to destabilize Ukraine from within and large-scale military operations,” Blinken told reporters.

During his meeting with Blinken, Lavrov charged that the West was “playing with fire” by denying Russia a say in any further NATO expansion into countries of the former Soviet Union. Zelenskyy has pushed for Ukraine to join the alliance, which holds out the promise of membership but hasn’t set a a timeline.

“I want to make it crystal clear: Turning our neighbors into a bridgehead for confrontation with Russia, the deployment of NATO forces in the regions strategically important for our security, is categorically unacceptable,” Lavrov said he told the OSCE meeting.

The United States and its European allies have struggled to warn Russia off any military action and reaffirm support for Ukraine without moving so forcefully as to give Russian President Vladimir Putin a pretext to invade.

American officials and their allies acknowledge the uncertainties, including whether Putin is prepared to invade Ukraine or is maneuvering to bring President Joe Biden into one-on-one talks on security concessions.

Putin said Wednesday that Moscow would seek Western guarantees precluding any further NATO expansion and deployment of its weapons near Russia’s borders. Lavrov followed up on Putin’s call for a new security arrangement, stating that reaching an agreement on a set of “long-term and legally binding security guarantees is imperative to prevent sliding into a confrontational scenario.”

Alexander Vershbow, a former U.S. ambassador to Russia and former deputy secretary general of NATO, said he sees little or no prospect of the U.S. or NATO providing Putin with such guarantees. “He’s simply not going to get” an agreement to rule out further NATO expansion, Vershbow told The Associated Press.

Vershbow also ruled out the U.S. or NATO agreeing to halt the kind of military assistance they have been providing to Ukraine since 2014, including arms, training and intelligence sharing.

Russia and Ukraine have remained locked in a tense tug-of-war since Russia annexed Ukraine’s Crimean Peninsula in 2014 following the ouster of the country’s Kremlin-friendly president and threw its weight behind a separatist insurgency in eastern Ukraine, which has killed more than 14,000.

Vershbow said Russia would not have an easy time if it chose to invade Ukraine, whose military is better equipped and more capable than it was in 2014. “It would be very costly for the Russians in terms of casualties,” he said.

Ukraine and the U.S. estimate that Russia has at least 90,000 troops on its border with Ukraine, while Russia charged this week that Ukraine has amassed about 125,000 troops, or about half its military, near the rebel-controlled areas in the east.

Addressing the OSCE meeting, Blinken urged Russia “to respect Ukraine’s sovereignty and territorial integrity to de-escalate, reverse the recent troop buildup” and “return forces to normal peaceful positions.”

The Kremlin has voiced concern that Ukraine may use force to reclaim control of the rebel east. And adding to the tensions, the head of a Russian-allied, self-proclaimed separatist republic in the east appeared on Russian state television to say that he could turn to Moscow for military assistance if the region faced a Ukrainian attack.

Ukrainian officials have denied an intention to reclaim the rebel regions by force.

Blinken sought Thursday to pre-empt Russian claims that Ukraine was threatening Russian interests. “Ukraine is in no way posing a threat to Russia or seeking a confrontation that would justify a Russian military intervention,” the American secretary of state insisted.

Blinken also met separately with Ukrainian Foreign Minister Dmytro Kuleba. Kuleba tweeted afterward that Ukraine and the United States “are closely working together on developing a comprehensive deterrence package, including severe economic sanctions, to demotivate Russia from further aggressive moves.”

John Herbst, a former U.S. ambassador to Ukraine, said Thursday that Putin appeared to be “testing Ukraine. He’s testing the West.”

Herbst, in a discussion at the Atlantic Council think tank, argued the Biden administration’s response has been strong so far, leaving Putin “hoping now simply to get some sort of concession either from Ukraine or perhaps from the United States.”

“Putin is definitely as serious as he could be” in the standoff, countered Ukraine analyst Hanna Shelest.

Isachenkov reported from Moscow. Robert Burns in Washington, Jan M. Olsen in Copenhagen, Denmark, and Yuras Karmanau in Kyiv, Ukraine, contributed to this report.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Library grant to bolster personal finance collections | News

Library grant to bolster personal finance collections | News

The Haywood County Public Library plans to expand its personal finance collections following the receipt of a grant from the FINRA Investor Education Foundation (FINRA Foundation).

The additional resources will help ensure that residents have the information they need when making critical money decisions as they repair, rebuild and clean up.

“When disaster strikes, the community comes together,” said Library Director Kathy Vossler. “The Haywood County Public Library provides residents with unbiased information to guide financial choices that will have lasting impact.”

Filing claims, accessing government resources, managing lump-sum payments from insurance companies and meeting immediate expenses when income might be disrupted — these are just a few of the money challenges that residents in disaster areas must navigate.

FINRA Foundation President Gerri Walsh noted, “Many of us lack experience with these decisions. Nonetheless, we have to get it right the first time around or face long-term financial consequences. Fortunately, the Library has information that can help.”

The expanded personal finance collections at the HCPL are made possible by a $5,000 grant from the FINRA Foundation. For nearly 15 years, the FINRA Foundation has provided funding, staff training and programs to build the capacity of public libraries to address the financial education needs of people nationwide. Much of this has been accomplished in partnership with the American Library Association through a program known as Smart investing@your library®.

It is estimated that consumer financial fraud costs Americans more than $50 billion a year, according to FINRA Foundation research. Financial fraud is especially prevalent following major natural disasters. Since it was established in 2005, the National Center for Disaster Fraud, which is part of the U.S. Department of Justice, has logged more than 220,000 disaster-related complaints from all 50 states. Financial fraud makes tough times all the more difficult for people recovering from the trauma inflicted by disasters.

Walsh observed, “Recovery follows disaster, but the path to recovery can be smooth or very bumpy. And financial fraud can be one of the biggest potholes along that road. The Haywood County Public Library has information to help people avoid the financial potholes and bring the route to recovery into sharper focus.” As a result of the grant, the Library is adding both print and digital materials to all branch collections.

The FINRA Foundation supports innovative research and educational projects that give Americans the knowledge, skills, and tools to make sound financial decisions throughout life. For more information about FINRA Foundation initiatives, visit finrafoundation.org.

4 things to cheer as Omicron makes its dramatic entrance: Morning Brief

4 things to cheer as Omicron makes its dramatic entrance: Morning Brief

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe

Thursday, December 2, 2021

‘The economic impact of COVID seems to be diminishing’

The Omicron variant of COVID-19 made its first domestic appearance on Wednesday, with one recorded case, a person who had traveled to South Africa and mildly symptomatic, being found in California. The news was enough to send stocks into a tailspin — again — and stoke new fears about efforts to contain the virus’ spread (i.e. mandates, restrictions and, perchance, more lockdowns).

“What a difference a week makes. A week ago stocks were at all-time highs and the economy was strong. Now all we have are uncertainties and questions,” explained LPL Financial Chief Market Strategist Ryan Detrick.

“As of now we’re optimistic that stocks will sidestep the new variant worries, but we recommend investors buckle up their seatbelts, as the end of 2021 could be a bumpy one.”

Since the new mutation made its inauspicious debut, the market has recorded more days in the red than otherwise, even though economic data like November ADP private payrolls data continue to defy gravity.

“The mapping from the virus to the lockdown to the macro world has been diminishing,” S&P Global Ratings chief economist Paul Gruenwald told Yahoo Finance Live on Wednesday. “That doesn’t mean we can’t get a shock. Omicron is gonna be a new shock… the good news is the economic impact of COVID seems to be diminishing.”

Still, it can’t be denied that growth remains firmly in an uptrend. And in the spirit of the season, the Morning Brief thinks it’s a worthwhile exercise to point out the myriad ways in which the U.S. economy, despite all odds, is very much firing on all cylinders.

Jobs are more than plentiful. The ADP data showed private sector employment jumped by 534,000 last month, better than most Wall Street estimates, while the employment component of the ISM’s manufacturing gauge showed job creation is still on a tear. That sets the stage for Thursday’s jobless data, which last week set a 52-year trough, and Friday’s all-important jobs report.

Wages are still going up — which means consumers are still willing to spend, spend — and spend some more. COVID-19 has put a damper on consumer sentiment, but that mood isn’t being reflected in high-frequency data. In fact, it’s making people more willing to ring up purchases on credit cards, as Yahoo Finance’s personal finance chief Janna Herron wrote on Wednesday — and a point the Morning Brief also made recently. It also provides us with a reminder that the inflationary pressures we’re experiencing are (for lack of a better phrase) a high-class problem created via a combination of implacable demand from rising pay and pent-up spending from 2020’s COVID-19 lockdowns.

Fourth quarter growth is tracking higher after a Q3 letdown. With consumer spending robust and manufacturing and construction figures also surprising to the upside, ING Chief International Economist James Knightly is expecting a Q4 growth print of at least 6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. “Inflation is likely to record a similar reading, meaning the case for swifter Fed policy tightening is strong. Omicron permitting,” he wrote.

Oil is cratering. Whatever Omicron brings next, one critical element of soaring inflation — energy prices — has suddenly turned disinflationary with crude tumbling nearly $20 from a multiyear high set in October to under $65 per barrel. In fact, you could almost make the case that oil price action suggests crude is getting way oversold, as Yahoo Finance’s Brian Sozzi reported on Wednesday, citing a Goldman Sachs analysis. Yet another high-class problem to have.

By Javier E. David, editor at Yahoo Finance. Follow him at @Teflongeek

Yahoo Finance Highlights

 

Capital One becomes first big bank to ditch overdraft fees

Elizabeth Holmes’ cross-examination in fraud case is ‘pretty devastating,’ expert says

Jay Leno: Tesla is ‘probably 8-10 years ahead in battery technology’ compared to competitors

Read the latest financial and business news from Yahoo Finance

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How to Take a Merchant Cash Advance in a Smart Way

How to Take a Merchant Cash Advance in a Smart Way

If you don’t have enough money at your hand, you’re going to have a difficult time running your business and fulfilling day-to-day tasks. This is especially important these days when companies worldwide are struggling to stay afloat. Let’s see how you can best obtain quick access to working capital such as a cash advance.

How to Take a Merchant Cash Advance in a Smart Way

How to Make the Best Choice

Think of a merchant cash advance (MCA) as alternative financing, which isn’t a loan. MCA providers give you an upfront sum of cash in exchange for your future sales. There are certain factors to take into account when applying for a merchant cash advance. Let’s go through them:

 

  • Apply for a cash advance from a reputable alternative online lender.

 

  • Look for simple and flexible payment schedules. If the MCA provider asks you to provide requirements that are more than usually expected, consider applying to another one with a simpler process.

 

  • Make sure the interest rate is among the lowest in the industry.

 

  • As a rule, MCA providers automatically charge the amount you owe from the sales you make. However, there are MCA providing companies offering a different process. So, find out all the details and nuances about the payment form to make the right choice for your financial needs.

 

  • Make sure the provider doesn’t require any credit check or personal guarantee.

 

  • Find out whether there are restrictions on how you can use your funds.

 

  • Make sure there are no hidden fees or gimmicks.

 

  • Be aware that you can find an MCA provider that approves credit scores below 500 approved. So, if you have low scores, this can be the best option for you.

 

  • See whether you can get your funds as soon as possible, e.g. 72 hours from application.

 

  • Make sure no tax returns or financials are required.

 

How to Pick the Best MCA for Your Company

Unlike banks, MCA providers rely on financial technology when making funding decisions. Mostly, they work directly with a payment processor to figure out the amount of money that’s going in and out of your business account. There are some basic factors that you should take into consideration to choose the best MCA for your business.

Author Bio: Michael Hollis is a Detroit native who has helped hundreds of business owners with their cash advance solutions. He’s experimented with various occupations: computer programming, dog-training, accounting… But his favorite is the one he’s now doing — providing business funding for hard-working business owners across the country.

Does Commercial Auto Insurance Have Deductibles?

Does Commercial Auto Insurance Have Deductibles?

The deductible on a commercial car business insurance policy works the same as it does for personal auto insurance. The deductible is the amount you’ll pay when there’s a claim on your policy. Consider the deductible the “self-insured” part of the policy, where you are responsible for paying for a portion of the repairs. Here’s a look at what a business owner needs to know about commercial auto coverage and deductibles.

What are auto insurance deductibles?

Your insurance deductible is the amount you’ll pay out of pocket after you file an insurance claim because of an incident with your covered business vehicle. 

Deductible amounts vary; you and your insurer will determine your deductible amount when you form the policy. However, policyholders can change the deductible amount in the middle of a policy by calling their insurance carrier. 

The deductible shows up on collision and comprehensive claims but doesn’t apply if another car hits you and you need to get your car repaired. 

How do deductibles work for commercial auto insurance?

You pay the deductible when you get your car repaired. You’ll usually pay the deductible directly to the autobody shop before it releases your car back to you.

For example, let’s say you were in an at-fault accident that damaged your vehicle and your deductible is $500. Your first step is to file a claim with your insurance carrier to explain the accident’s circumstances. Next, the insurance carrier sends an adjuster to assess the damage and estimate what repairs would cost. In this case, let’s say the adjuster notes $5,000 in damages. 

Next, you’ll bring your car to a repair shop and provide the claim information. When your car is fixed, the shop will bill your insurance carrier for the total amount minus the deductible. When you pick up your car, you’ll pay your $500 deductible to the shop and leave with your newly repaired car. 

Did you know?Did you know? When considering insurance expenses and tax deductions, you can deduct your commercial auto insurance premiums and expenses if you use a vehicle exclusively for business purposes.

Types of commercial auto insurance deductibles

Commercial auto insurance deductibles apply only to your insurance policy’s comprehensive coverage and collision coverage. You can choose a separate deductible for each coverage to customize your policy. 

Collision coverage deductible

Collision coverage pays for repairing or replacing your vehicle if you hit something – a car, building, object or animal – and are at fault in the accident. Collision coverage doesn’t cover damage to what you hit; your general liability insurance covers those damages. 

When you engage your policy for collision coverage, you’ll need to pay the collision deductible. 

Deductibles vary from carrier to carrier, but most carriers offer policies that range from no deductible to a $2,000 deductible. Basically, the higher your deductible, the lower your premium will be.

Comprehensive coverage deductible

Comprehensive coverage kicks in for any type of loss other than a collision. For example, a comprehensive claim would cover someone stealing your car, a vandal slashing your tires or a tree branch falling on your car. Hail is another common source of comprehensive coverage claims. 

Comprehensive coverage also has its own deductible that you’ll set when you choose your business insurance policies. Like the collision deductible, it can range from nothing to $2,000, depending on the carrier. Also, as with the collision deductible, you’ll pay the deductible directly to the repair shop when you get your car fixed. 

What is the average auto insurance deductible paid on commercial vehicles?

Auto policyholders can select a $250; $500; $1,000; or $2,000 deductible for both comprehensive and collision coverage. Most drivers tend to take a middle ground with their deductible, finding the sweet spot between cost and coverage with a $500 deductible. 

Those who want additional savings might jump to a $1,000 deductible, while many find that a $2,000 deductible doesn’t provide enough savings to take on so much risk. 

FYIFYI: The best liability insurance carriers work with policyholders to find the sweet spot between coverage levels and deductible amounts.

What to consider when choosing a commercial auto policy with deductibles

When it comes to your deductible amount, your decision boils down to cost versus risk. As an insurance policyholder, you want to save as much money as possible, so you may be tempted to go with a higher deductible and lower premium.

But when you look at what you’d have to pay out of pocket in a claim, consider whether or not the lower premium is worth it. For many people, coming up with an extra $1,000 for a claim would be difficult. Even $500 can be burdensome. 

If the cost savings associated with a higher deductible aren’t substantial, you may be better off with a lower deductible while paying a few extra dollars a month for coverage. 

Do you pay a deductible every time for car insurance?

A commercial car insurance deductible doesn’t work like a health insurance deductible. In health insurance, the deductible goes toward the out-of-pocket maximum for the year. With auto insurance, there’s no ceiling; you’ll pay the deductible every time you file a collision or comprehensive insurance claim. 

So, if you have a $500 deductible and make three claims during your policy, you’ll pay a total of $1,500 to get your car repaired. 

Is it better to have a $500 or $1,000 deductible?

Choosing between a $500 and $1,000 deductible is a personal choice. Since this is the amount you’ll pay if you file a claim, you need to be comfortable with your out-of-pocket responsibility. 

A higher deductible can save you money on your insurance premium. You might be able to save as much as 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} on your premium when you jump from a $500 to a $1,000 deductible. If you aren’t likely to file many claims, the higher deductible may be a good option that’s worth it for the premium savings. 

If you have more frequent claims, consider a lower deductible to get the most out of your insurance. 

Did you know?Did you know? If you have a business owners insurance policy, be aware that it doesn’t include commercial auto insurance, disability insurance, health insurance or professional liability insurance.

Should you have a deductible on older cars?

As your car gets older, the cost of repairing it after an accident can exceed its fair market value. This means your car is likely to be totaled. If so, you’ll receive a check for its fair market value if you have comprehensive or collision coverage. For many, this is why paying for these coverages on an older car is often not worth it. 

When deciding if you should have a deductible on an older car, evaluate the amount you’d receive in a claim compared to what you’re paying for insurance. Some people decide to keep coverage in place because they feel getting something in a claim is better than nothing. 

What is splitting your deductible?

Splitting the deductible is when you choose different deductible options for collision and comprehensive coverage. You might have a $500 collision deductible and a $250 comprehensive deductible. Traditionally, the comprehensive deductible affects premium pricing less, and many policyholders prefer carrying less responsibility for events where they’re not at fault. 

Other policyholders keep things simple and choose the same deductible for both comprehensive and collision coverage. This takes the confusion out of claims, and the policyholder doesn’t have to guess which deductible will apply. 

General Mills exec to lead Meati’s market launch

General Mills exec to lead Meati’s market launch

BOULDER, COLO. — Scott Tassani has been named president of Meati Foods, a Boulder, Colo.-based maker of fungi-based whole-cut meat alternatives.

A 30-year veteran of the food and beverage industry, Mr. Tassani will lead Meati as it prepares to launch in early 2022 with a new source of nutrient dense protein made from mycelium, the root structure of mushrooms. He joins the startup from The Pillsbury Co. and General Mills, Inc., where he most recently was president and chief customer officer for the brand’s $11 billion North America business. Before that he was vice president of US grocery sales and vice president of sales strategy at General Mills.

“Our goal is to rapidly scale to drive accessibility across the United States, with plans to achieve a category-leading $1 billion in sales by 2025,” Mr. Tassani said. “I am incredibly energized to join the Meati team as we launch the outstanding portfolio of animal-free meat products. Meati products are far superior to any alternative proteins available, making it possible to deliver a superior consumer experience while driving significant sustainability impact, and partner with our customers to profitably lead industry growth.”

Scott Tassani, new president of Meati Foods

Meati initially plans to offer its products online direct-to-consumer before expanding availability to food retailers. To achieve its goal of widespread accessibility, Mr. Tassani and his team will focus on expanding the availability and affordability of Meati’s initial products, according to the company.

“Scott brings an unparalleled track record of not only driving profitable growth but doing so by establishing premier commercial partnerships in a way that wins for the brand, the partner and consumers,” said Tyler Huggins, co-founder and chief executive officer of Meati. “When creating a new and exciting category, the strategic partnerships that deliver on all fronts is critical, and I couldn’t be more excited to welcome Scott to the team and partner with him to bring lasting change to the broader protein category. I’m already blown away by the trust and relationships he brings, which will enable a new level of speed for Meati to be more widely available.”

Mr. Tassani joins an existing team of executives, investors and advisers, including Walter Robb, former CEO of Whole Foods Market, John Foraker, co-founder and CEO of Once Upon a Farm, and Rose Marcario, former CEO of Patagonia.