MINNEAPOLIS, Feb. 1, 2023 /PRNewswire/ — Scoular, a global supply chain company, today launched a new name for its food ingredient business that showcases its capabilities in providing innovative ingredients to customers. The new name – Scoular Food Innovation – reflects the company’s food industry expertise and experience supplying on-trend ingredients to meet growing consumer demand. "Scoular has long been a reliable partner delivering leading-edge food ingredients," said Brian Hansen, Scoular General Manager for Food Innovation. "The new name highlights the experience our customers get when working with us–access to custom, innovative ingredients, solutions, and services." The Scoular Food Innovation team focuses on delivering ingredients that provide superior function, texture and flavor. Scoular’s exclusive new functional chickpea flour, for example, offers gelling, emulsifying, and foaming attributes that can replace eggs in bakery applications. The combination of consumers’ growing desire to have an alternative to animal-based products along with egg prices nearly doubling over the last two years has food companies seeking effective egg-replacement solutions like Scoular’s functional chickpea flour. Scoular Food Innovation: Carries the backing of Scoular’s global supply chain network and financial stability, with the 130-year-old company posting over $9 billion in sales and ranking as the 48th […]

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North Star Mutual invests in SMSU School of Business Southwest Minnesota State University has announced a partnership with North Star Mutual Insurance Company, of Cottonwood, Minnesota, that will lead to an investment of $3 million in the SMSU School of Business. The investment will establish the North Star Mutual School of Business and provide funding for academic programming, facilities, and scholarships that will create new opportunities for students. The $3 million investment will provide funds that will make both an immediate impact for students and establish an endowment to provide ongoing support. The partnership will strengthen the current school of business by enhancing facilities and increasing funding for programs at SMSU. In addition, new scholarship and internship opportunities will be established as part of the North Star Mutual partnership to help support students in their academic endeavors and career development. North Star Mutual will receive naming rights to the business school and maintain a role on a special advisory committee made up of both school faculty and local business representatives. “We are grateful to North Star Mutual and their leadership team who see the value in further investing in the next generation of SMSU students,” said SMSU President Kumara […]

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In the end, everything is our responsibility. Opinions expressed by Entrepreneur contributors are their own. By now you’re familiar with the ongoing saga of Alec Baldwin and the tragic shooting accident of a cinematographer on the set of his film "Rust." Earlier this month, Baldwin was charged with involuntary manslaughter in Arizona, the state where the incident occurred, and faces up to 18 months in prison if found guilty. This is an awful situation. But it’s also a reminder of the liabilities we all face as business owners. Because, as a producer of the film, Baldwin was a part owner of the enterprise. And with that great opportunity for profit also comes great responsibility. And these responsibilities extend to all areas of our businesses. For example, as a certified public accountant, I’ve signed tax returns for clients in the past. And, even though I do have both professional and legal requirements I must fulfill, in the end, a company’s tax return is the responsibility of the company’s owners. If, like most small businesses, your business is owned by yourself or maybe with a partner or two any problem, error or issue with your tax return is ultimately on you. […]

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___ Fed lifts rate by quarter-point but says inflation is easing WASHINGTON (AP) — The Federal Reserve extended its fight against high inflation by raising its key interest rate a quarter-point, its eighth hike since March. And the Fed signaled that even though inflation is easing, it remains high enough to require further rate hikes. At the same time, Chair Jerome Powell said at a news conference that the Fed recognizes that the pace of inflation has cooled — a signal that it could be nearing the end of its rate increases. The stock and bond markets rallied during his news conference, suggesting that they anticipate a forthcoming pause in the Fed’s credit tightening. ___ Stocks hit summer highs as Fed sees progress on inflation NEW YORK (AP) — Wall Street rose to its best level since the summer following the latest hike to interest rates by the Federal Reserve, which said it’s finally seeing improvements in inflation. The S&P 500 rallied back from an early 1% loss Wednesday to rise 1%. As expected, the Fed raised its benchmark rate by a quarter of a percentage point to its highest level since late 2007. It’s the smallest increase in […]

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TA Services, located on 8th Street just off of Highway 78 in Leeds, was impacted when the vehicle crashed into the business. (Submitted | abc3340.com) One person was taken into custody after a car crashed into a business Wednesday afternoon in Leeds, according to Leeds Mayor David Miller. No injuries were reported but there was damage to the interior of the business. TA Services, located on 8th Street just off of Highway 78 in Leeds, was impacted when the vehicle crashed into the business. It is not clear how much damage was done to the building. SEE ALSO: Police searching for multiple people connected to different burglaries in Birmingham SEE ALSO: Train derails on Highway 21 near Sycamore There has been no information released by law enforcement in connection to this incident. This story will be updated as more information becomes available.

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NFTs seem to be all the rage these days, but can they actually work for most businesses? Opinions expressed by Entrepreneur contributors are their own. 2022 was an interesting year for NFTs (non-fungible tokens) , to say the least. This was the year that saw public knowledge of NFTs go beyond Bitcoin and other cryptocurrencies to the field of digital collectibles, such as art and photographs. But while buying art and other collectibles may be getting most of the attention from the general public, they result in some of the more practical (and profitable) business applications getting overlooked. In reality, NFTs can have a variety of practical applications that help organizations achieve their existing business goals. First things first: How do NFTs work? NFTs are is cryptographic assets that are based on blockchain technology . The non-fungible aspect is important, as it gives NFTs distinctive properties that mean they cannot be replaced or replicated. They are unique, and can’t be manipulated or forged. Most often, we see NFTs in connection with digital assets, such as art, sports cards , games and other collectibles, where the blockchain provides a certificate of authenticity. NFTs can be bought and sold on the […]

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The military’s power grab two years ago has brought renewed uncertainty for all businesses in Myanmar, whatever their size [File: Aung Shine Oo/AP Photo] Bangkok/Yangon – For Aung Thet, a successful entrepreneur in Yangon, running a business under Myanmar’s military regime feels like “riding a rollercoaster”. The Southeast Asian country’s economy has been brought to its knees by the conflict triggered by the military’s power grab two years ago . Foreign investors have headed for the exits and the generals have forced companies like Aung Thet’s to convert their foreign exchange accounts into Myanmar kyat. Criticism of the military administration is not tolerated. “It’s a very hostile environment for businesspeople and the risks for speaking out on policy issues are high,” Aung Thet, who asked to speak under a pseudonym, told Al Jazeera. “Even the national business lobby doesn’t have much clout over the junta’s economic policies. They could be brutal to businesspeople who voiced their criticisms.” In some ways, Aung Thet is relatively fortunate. His company is in the agricultural export sector and is not existentially threatened as long as farmers continue to produce the crops he sells in countries – including in Africa and Europe. Since toppling […]

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CINCINNATI — A Cincinnati man has been indicted for allegedly claiming to run a taxi business while he was in prison. United States Attorney for the Southern District of Ohio office announced Willie Boyce, 41, was indicted on Wednesday by a federal grand jury with crimes related to Paycheck Protection Program (PPP) loan fraud. According to the indictment, Boyce was in prison in Hamilton County from March 2018 until September 2020, when he was released to a halfway house. In April 2021, Boyce allegedly applied online for two PPP loans, claiming he owned a business named "Willie Boyce" that provided taxi and ridesharing services. Boyce submitted two separate applications on April 4 and April 9, 2021. In the application, Boyce allegedly claimed he had a gross income of $98,500 for 2019, despite being in prison during the entire year. The indictment also alleges that Boyce used his halfway house address as the business address in the application and submitted a forged bank statement. In early May 2021, Boyce received more than $40,700 in COVID-19 relief loans. That month, Boyce allegedly spent the PPP loan money on purchases at Gucci, Louis Vuitton, Expedia, Hampton Inn and Delta Airlines. Boyce has […]

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BERLIN, Feb 2 (Reuters) – Switzerland’s Swiss Re (SRENH.S) announced a reorganisation on Thursday that will split its reinsurance business into two parts that will operate with greater independence, which it said would improve efficiency. The division will see the property and casualty reinsurance business on the one hand and the life and health reinsurance operations on the other hand become independent units with full authority over their respective underwriting and claims management. "The planned changes will emphasise performance accountabilities and bring clear efficiencies. The simpler set-up with shorter decision paths will also result in enhanced client focus," Chief Executive Christian Mumenthaler said. Swiss Re will transfer the responsibilities of the group Chief Underwriting Officer (CUO) to the CUOs of the two businesses as well as to the group risk management division, it said. The announcement comes a week after news that Swiss Re’s CUO Thierry Leger was stepping down to become CEO of rival Scor (SCOR.PA) . The reorganization will be effective from April 3, subject to regulatory approvals, according to the company.

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North American lithium-ion battery supply chain boosted through localization of lithium hexafluorophosphate (LiPF6) production BOSTON, Feb. 2, 2023 /PRNewswire/ — Orbia’s Fluorinated Solutions business Koura today announced that it has signed a technology licensing agreement with Kanto Denka Kogyo for lithium hexafluorophoshate (LiPF6), a critical lithium-ion battery material. The agreement provides Koura with access to Kanto Denka Kogyo’s world-class technology and industry expertise in commercial LiPF6 production. Currently, there is no large-scale production of LiPF6 in North America. With significant growth of the U.S. electric vehicles market, demand for lithium-ion batteries and materials is increasing. Orbia is working to secure North America’s supply of key battery materials and recently announced the first U.S. manufacturing plant for LiPF6 in St. Gabriel, Louisiana, partially funded by a $100 million U.S. Department of Energy Award . "Kanto Denka Kogyo is recognized by the major battery producers for its reliable and high quality LiPF6 technology. We are excited to extend this production know-how to Koura, as they are best suited to build and operate a LiPF6 plant in North America with their vertically-integrated fluorspar and fluorine value chain. Customers will now have access to known LiPF6 performance in North America," said Junichi Hasegawa, […]

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