Illustration: Sarah Grillo/Axios Traditionally Earth-bound companies, industries and investors are now looking to space as a place to do business, compete and invest. Why it matters: The space economy’s continued growth hinges on space companies proving their worth to non-space entities, and moving beyond established industry partnerships and government contract money. The space economy is "going to grow by regular companies thinking about regular ways that they can solve regular problems through and with space," McKinsey partner Jesse Klempner tells Axios. That may now be happening. "I think that folks are starting to wake up to the fact that we are really at the emergence of a massive space economy and a lot of growth," McKinsey senior partner Ryan Brukardt tells Axios. What’s happening: 2021 was a high-water mark for investing in the space industry , with $14.5 billion raised through private investment, according to data from Space Capital. Last year saw a major downturn in investment, but the space economy still grew and reached $424 billion in 2022, according to a report from Euroconsult. Investors and companies outside of the space industry are looking to space to add value to their own companies. They’re building and using analytics […]

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Liz Abunaw, MBA’14, founder of Forty Acres Fresh Market When Liz Abunaw, MBA’14, stepped off the No. 66 bus in Chicago’s Austin neighborhood six years ago, she wasn’t looking to change her life. She was looking for a bank. “I was running an errand and didn’t realize that the address for my errand was in Austin,” said the Upstate New York native and alum of The Polsky Center’s Small Business Growth Program . “I needed to get cash and I didn’t see a bank or a drugstore where I could make a small purchase and get cash back. “As I continued to look around, I quickly realized that the amenities I was used to finding in neighborhoods like the South Loop, Wicker Park and Lincoln Park were not readily accessible in this area. I started wondering, ‘Where do the people in this neighborhood shop? Where do they work? Where do they bank?’” That observation stayed with her over the years and crystallized into a business idea that became Forty Acres Fresh Market while she was shopping at a popular produce market. “I was in Stanley’s buying strawberries for a ridiculously low price and it dawned on me that something […]

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Governor’s budget also pushes mental health, business infrastructure COLUMBUS, OH — JANUARY 31: Ohio Gov. Mike DeWine gives the State of the State Address, Jan. 31, 2023, in the House Chamber at the Statehouse in Columbus, Ohio. (Photo by Graham Stokes for Ohio Capital Journal. Republish photo only with original story.) Ohio Gov.Mike DeWine made clear Tuesday that his priorities during this budget cycle center on child literacy, mental health, and spending to bring in big business. In his annual State of the State address to a joint meeting of the General Assembly, DeWine announced big money moves included in his proposed budget, including $2.5 billion in one-time monies to ready construction sites for major business, and per-child tax credits he says will help bring better health and education outcomes. “Our future is bright — but that future will be defined by how well we educate all our children and how we tear down the barriers to their success,” DeWine said. Education Among his proposals for the budget — that will now be dissected by the General Assembly as both the House and Senate come up with their own priorities and spend the spring and summer negotiating — is […]

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GOYANG, SOUTH KOREA – JANUARY 25: Inseong, Youngbin, Rowoon, Jaeyoon of SF9 attend MBC Idol … [+] ImaZins via Getty Images From the BTS Meal at McDonald’s to the members of BLACKPINK all representing multiple luxury fashion houses, global brands are embracing the popularity and social-media savvy of K-pop stars more than ever. But the artists also use their influence to help develop and boost budding enterprises from their home country of South Korea in an emerging business model that’s gained important government support. The special affairs unit in Korean TV and radio broadcaster Munhwa Broadcasting Company (better known as MBC) recently shared its findings and future plans developed from a new business model titled “Connect, Accompany to make Synergy and Transformation,” or “CAST” for short. After three years of research and testing, MBC shares that even with K-pop artists and celebrities’ rising profiles, they are willing to collaborate with Korea’s small-to-midsize enterprises (also known as SMEs) and share their millions of excitable fans for meaningful and collaborative partnerships. In the CAST system, stars of the Korean wave and SMEs are matched one-on-one with the celebrities participating not just as models but as creative directors involved in product planning, […]

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HONG KONG — Hong Kong banned CBD as a "dangerous drug" and imposed harsh penalties for its possession on Wednesday, forcing fledging businesses to shut down or revamp. Supporters say CBD, or cannabidiol, derived from the cannabis plant, can help relieve stress and inflammation without getting its users high, unlike its more famous cousin THC, the psychoactive ingredient of marijuana which has long been illegal in Hong Kong. CBD was once legal in the city, and cafes and shops selling CBD-infused products were popular among young people. But all that has changed with the prohibition, which took effect Wednesday but had been announced by the government last year. CBD-related businesses have closed down while others have struggled to remodel their businesses. Consumers dumped what they saw as a cure for their ailments into special collection boxes set up around the city. The new rule reflects a zero-tolerance policy toward dangerous drugs in Hong Kong, a semi-autonomous southern Chinese business hub, as well as in mainland China, where CBD was banned in 2022. The city maintains several categories of "dangerous drugs," which include "hard drugs" such as heroin and cocaine. In explaining the policy change, the Hong Kong government cited […]

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The market hasn’t been a fan of Xylem’s acquisition of Evoqua, but it could be a long-term success. , albeit expensive, stock with a strong position in an important, growing industry. Then the company moved to purchase Evoqua Water Technologies AQUA –1.11% Now Xylem is a more attractive company with a better growth outlook—and a lower stock price. Rye-Brook, New York-based Xylem (ticker: XYL) is a leading water technology company making pumps, valves, filters, and meters for industrial and utility customers. Sales in 2022 are expected to be $5.4 billion, which is significant for a pure-play water company. By comparison, Danaher DHR +0.75% ‘s ( DHR ) water business, which it plans to spin off later this year , generates about $5 billion inside a mammoth $200 billion market-cap industrial and health conglomerate. Morgan Stanley MS +0.49% is expanding further into retail investing with its first exchange-traded funds, but faces a crowded field where legions of ETFs struggle to gain traction. The $1.3 trillion asset manager today launched six ETF strategies focused on environmental, social, and governance, or ESG, investing, from pioneer Calvert Research and Management, part of Morgan Stanley (ticker: MS).

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Jaime Ibanez’s vending-machine business was a launching-off point for his YouTube career. Vending-machine businesses are gaining popularity because they require minimal overhead. The success of your business can depend on the products you sell and where you place the machine. Here are five vending-machine businesses that are relatively easy to start. Sign up for our weekday newsletter, packed with original analysis, news, and trends — delivered right to your inbox. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Starting a business isn’t easy — it takes a lot of hard work and can be a huge time commitment — but some ventures don’t require as much funding, resources, or employees as others. Vending-machine businesses are gaining popularity because they require minimal investment to get started, are low maintenance, and can eventually generate passive income if you outsource the daily upkeep. Some vending-machine entrepreneurs have started businesses for between $1,500 and $3,000. What you sell in the vending […]

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China’s population is shrinking. While the massive country is still home to 1.4 billion people — nearly one out of every five people on Earth — China’s National Bureau of Statistics announced that its population shrank in 2022 , falling by roughly 850,000 people. This shocking statistic is only the start of China’s population decline. This year India is set to surpass China’s population, and in a few years it will surpass China’s working-age population — people 20 to 69. The United Nations has estimated that if China’s birth rate remains at its super-low level and the country fails to position itself as an attractive destination for migrants, the country will lose nearly half of its population by the end of this century, a contraction of roughly 700 million people. Strong growth in its working-age population over the past several decades allowed China to become the world’s factory — over 70% of solar panels, 60% of farm machines, and 25% of robots are constructed with components from Chinese suppliers. Because of its manufacturing prowess and importance to supply chains, China’s shrinking working-age population has enormous, direct effects on the global economy. It’s also an omen for the US and […]

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The La Defense business district in Paris, France, on Wednesday, Jan. 22, 2020. Thierry Viu of CMS discusses the powers of the French tax authorities to enter and search a company’s premises to seize evidence of tax fraud, and the process that follows such a search, leading to a tax audit. Tax searches are a powerful way for the French tax authorities to gather evidence, as they allow them to seize all documents on a company’s premises that may reveal tax fraud. The searches may affect all companies, whether small or multinational. According to a public report released by the French Ministry of Finance, more than 160 tax searches on company premises were carried out in France in 2021. The amount of tax adjustments made by the authorities following these searches was more than 562 million euros ($609 million)—417 million euros in principal and 155 million euros in tax penalties. Since taxpayers are not informed in advance of a tax search, several questions arise: Why do the tax authorities carry out a search? Who can be the subject of a search? What documents can be seized and how can they be used? What tax penalties are likely to be […]

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(kvkirillov/iStock/Getty Images Plus) Higher education has come to mean a great many things to the American people—a coming-of-age experience, a stepping-stone holding the promise to a better future, even validation that an individual “belongs” to an exclusive institution. But in a simple sense, it could be argued that it is designed to serve one of two primary purposes: either to advance knowledge, by means of research, or transfer knowledge, through an array of learning experiences. Even as many strive to do so, it’s not common that a single institution can do both equally well, nor should every institution be motivated or incentivized as such. An institution’s value proposition, after all, will necessarily drive its economic model and incentive structure. Those can either be oriented toward, or detract from, student learning and success. Unfortunately, expansive missions in higher education are more readily found than is clarity of purpose, and misalignment between student expectations and institutional incentives is rampant. In a 2020–21 Strada-Gallup Education poll of more than 20,000 Americans, 79 percent cited the reason “be able to support myself and my family” as very or extremely important in their decision to pursue their highest level of education. But when you […]

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