Portland News

ReSaltZ’s Distinctive Wellness Product Will Change Your Bathroom To A Spa

William Mason William Mason on February 24, 2023

Bathrooms are often overlooked when it comes to interior design, yet they play a critical role in providing a calming and refreshing ambiance. Enter ReSaltZ , an innovative brand that offers wellness products designed to bring elegance and style to your bathroom. With ReSaltZ’s distinctive product design, your bathroom is no longer a dull space but a sophisticated haven that combines both functionality and glamour.

ReSaltZ is committed to providing its customers with lifestyle products that are both practical and chic. The brand’s skincare products feature sea salt and Korean herbs as their main ingredients, ensuring that the products are safe, natural, and non-irritating to the skin. ReSaltZ’s K-wellness beauty concept incorporates traditional Korean approaches to beauty and wellness, enhancing the effectiveness of their products.

One of ReSaltZ’s most outstanding products is the Salt Ritual Facial Cleansing scrub. This product is a blend of extraordinary ingredients that deliver an excellent massaging effect, leaving your skin feeling smooth and supple. In addition, the Salt Ritual Facial Cleansing scrub is zero-waste and eco-friendly, making it an ideal choice for individuals who are environmentally conscious. 

ReSaltZ’s Massage Ritual Cleansing Scrub is another product worth highlighting. This shower scrub features a unique design that offers a deep and sensitive massage, leaving your skin feeling rejuvenated and refreshed. With sea salt as its main components, this product offers, pore contraction, moisturizing & exfoliating skin, whitening, wrinkle improvement, and helping blood circulation.

If you’re looking to pamper your hair, the ReSaltZ Hair Perfumed Conditioner Bar is an excellent choice. This is very easy to use and provides your hair with the necessary nutrients, leaving it soft and nourished. The conditioner bar is infused with a light and refreshing scent, making it perfect for daily use. 

At last, the ReSaltZ Scalp Scaling Ritual shampoo is a game-changer for individuals experiencing scalp conditions such as dandruff and dryness. This product features Korean herbs like ginseng, licorice root, ginger, centella, gotu kola, which work together to soothe and refresh your scalp, leaving it feeling healthy and invigorated.

Apart from their commitment to using natural and safe ingredients, ReSaltZ is also dedicated to using sustainable and none polluting packaging for all their products. All of their packaging is recyclable and biodegradable, reducing their impact on the environment. Their products are cruelty-free, ensuring that they do not test on animals and are cruelty-free certified, which is essential for customers who align their values and ethics with their purchasing decisions.

In conclusion, ReSaltZ’s wellness products offer a unique and sophisticated design that adds a touch of glamour to your bathroom. You can purchase ReSaltZ’s products online through Amazon, and their product range caters to individuals looking for practical and stylish solutions or environmentally-friendly and sustainable alternatives. With their commitment to natural and safe ingredients, you can trust that ReSaltZ’s products will provide you with the best skincare and hair care experience.

Bidbud: The Revolutionary Gig Economy Platform for Business Owners

William Mason William Mason on February 24, 2023

Starting a business can be an exhilarating journey, filled with its fair share of triumphs and challenges, but it’s not without its obstacles. For entrepreneurs, there is no one-size-fits-all formula for success. Instead, each business has its unique set of circumstances, and no two paths to success are the same. 

However, one commonality among all successful businesses is their ability to adapt to changing times and evolving consumer needs. It’s no secret that you need the right partner to work with you to rise above competitors. Bidbud is a unique gig economy platform that has successfully navigated the competitive world of startups by offering affordable, efficient, and innovative services to clients and gig workers alike. 

Bidbud, the mobile app startup founded by James Fakhoury and Elias Salmo in 2019, is quickly making waves in the gig economy industry. With its unique bidding system and cost-effective pricing, Bidbud is empowering users to take control of their economic destiny.

Bidbud stands out from other platforms thanks to its unique, integrated bidding system. Within seconds, freelancers and service providers can place their bids on jobs posted by clients. This efficient system enables clients to quickly and easily find the right person for the job, while also providing freelancers and service providers with a vast pool of job opportunities to choose from.
BidbudThe platform adopts a fee-sharing approach, where the fee is split between the client and gig worker, effectively minimizing the cost per person. Moreover, Bidbud’s fee structure ensures that users are not charged a service fee for posting one-time jobs or placing bids; they only pay when the client accepts a bid, making it a highly affordable option. 

Thanks to its affordability and competitive prices, Bidbud reduces the risk of projects falling out. Through its split-payment process, accountability for the project is shared between the client and gig worker, setting the foundation for trust and positive reinforcement. Even more so, Bidbud’s focus on privacy and protection ensures that no unnecessary risks are taken and projects are done in a streamlined manner.

In line with their vision of providing accessible services, Bidbud’s sleek sign-up process makes it easy for anyone to start finding or offering services right away. Bidbud also accounts for flexibility, as clients and gig workers have the option to facilitate payment outside of the app, catering to specific payment methods, avoiding unnecessary fees, or simply for ease of use. This unrestrictive approach makes Bidbud the go-to service for any project and business needs.

As the gig economy continues to grow, Bidbud’s sustainable approach has them on the front line of change and innovation. Whether you’re a business owner looking to streamline your hiring process, or an aspiring entrepreneur seeking inspiration for your own startup, Bidbud’s invaluable resources can help set you on the path to growth.

Connect with Bidbud

https://www.bidbudapp.com/ 

https://www.facebook.com/Bidbudapp/ 

https://twitter.com/bidbudinc 

https://www.youtube.com/channel/UCkFSeW7HGhAuVLOZ08PE1yw 

https://www.linkedin.com/company/bidbud 

https://www.instagram.com/bidbud/?hl=en

Tesla takes action with FSD concerns, recalls 363,000 models

William Mason William Mason on February 21, 2023

Tesla – The concept of an automobile driving itself has long appealed to users, especially when there is traffic or a distance to go.

At first, it was merely a concept, but Elon Musk and Tesla were able to turn it into a reality.

With the implementation of the “Full Self Driving” assistance software, the reaction has been unpredictable.

Tesla had to recall a few vehicles last year due to its self-driving capabilities.

The company intends to recall even more vehicles this year.

The news

Each of the 363,000 “Full Self Driving” Teslas in the US is apparently being recalled.

Another blow to Tesla’s key differentiator is the fact that the firm decided to base its choice on safety considerations.

On local roads, the autonomous driving feature uses artificial intelligence to steer, brake, and accelerate the vehicle.

Also, a human driver must always be ready to take control because the machine has a tendency to make bad judgment choices.

The problem

Due to a disregard for traffic safety, the National Highway Traffic Safety Administration has ruled that Tesla’s FSD feature presents an excessively high risk to motor vehicle safety.

The organization warned that FSD could be able to violate traffic laws at intersections before drivers can respond.

Recently, the NHTSA published a recall on its website, stating:

“The FSD Beta system may allow the vehicle to act unsafe around intersections, such as traveling straight through an intersection without coming to a complete stop, or proceeding into an intersection during a steady yellow traffic signal without due caution.”

Fixing the system

Tesla will pay $15,000 to patch its software over the air in order to solve the FSD function, according to the NHTSA letter.

The CEO, Elon Musk, has not yet made a public remark on the matter.

He has only ever used the word “recall” in his tweets to describe an OTA software update and to point out that it is unreliable and outdated.

But, according to the NHTSA statement, manufacturers must initiate a recall for changes, such as software updates, that lower an unacceptably high safety risk.

Reps for the government assert that they are now evaluating the effectiveness of recall remedies.

Read also: Crypto space tightens as regulators close in

Affected models

The warning states that the problems have only been documented in vehicles using the most recent FSD software version.

The software is used by the following four Tesla models:

  • Model S
  • Model X
  • Model 3
  • Model Y

According to the letter, the company discovered 18 reports of incidents that may have been connected to relevant occurrences between May 8, 2019, and September 12, 2022.

According to the NHTSA, Tesla is not aware of any events that have resulted in injuries or fatalities.

Federal authorities claim that 273 accidents used the Tesla driving assistance system.

Safety data

Tesla sees FSD as the core of the company’s business strategy due to the premiums customers pay for its facilities and its capacity to attract customers with its automobiles.

Elon Musk and the company have maintained that the FSD is safer than manual cars even if it is still in the development stage.

Musk informed investors in January that the company received information from FSD users who had traveled more than 100 million miles away from highways.

“Our published data shows that improvement in safety,” said the CEO. 

“It’s very clear. So we would not have released the FSD Beta if the safety statistics were not excellent.”

Nevertheless, safety experts disagree with Tesla’s safety claims.

Tesla vehicles that employed FSD and its predecessor, the “Autopilot,” have been involved in high-profile accidents.

Several events have resulted in fatalities.

Furthermore, the NHTSA is investigating Autopilot.

The system combines adaptive cruise control with lane-keeping assist to keep the car in its lane, as opposed to the “full self-driving” concept.

Tesla plans to concentrate on developing autonomous driving technologies in the future.

Although the recall is meant to address a specific set of problems, it does not cover initial inquiries.

“Accordingly, the agency’s investigation into Tesla’s Autopilot and associated vehicle system remains open and active,” said its statement.

The US Justice Department reportedly asked for documents pertaining to Tesla’s Autopilot and FSD technology in January, citing the company’s annual financial report.

Image source: The New York Times

Tesla announces price cuts in US and UK

Jamal Murphy Jamal Murphy on February 13, 2023

Image source: Gulf Times

Tesla: All facets of business have been impacted by the economic crisis, which has forced companies to make difficult choices.

While the majority of firms have turned to layoffs in order to decrease costs, Tesla is employing a different approach.

The manufacturer of electric vehicles is reducing prices instead in both the US and Europe.

The news

Tesla is a company that develops and manufactures electric vehicles, energy storage devices, and solar products (EVs).

In order to speed the transition of the world to renewable energy, Elon Musk founded the company in 2003.

Tesla EVs are well known for their powerful, long-range, and fashionable designs.

Some of the most well-known Tesla automobiles include the Model S, Model 3, Model X, and Model Y.

Tesla supplies electric powertrain components and systems to other manufacturers in addition to producing commercial vehicles.

On Thursday, a price drop was advertised on the company’s website.

Sales

Tesla automobiles have been selling well.

The company’s profits have been increasing consistently, and recent years have seen particularly robust development.

In 2020, deliveries of Tesla vehicles reached over 5 million globally.

The Model 3, Tesla’s most affordable car, has been the most well-liked electric vehicle worldwide since 2018.

Tesla has also seen outstanding sales in other continents, including China and Europe.

Additionally, the business has aspirations to boost production and sales in more countries in the near future.

Overall, Tesla has done well in terms of sales, securing its place as a significant competitor in the electric vehicle industry.

However, decreasing prices in the US may help the company qualify for more federal EV tax credits and increase both domestic and international sales.

The Model 3 and Model Y are currently discounted in the following European countries:

  • Austria
  • France
  • Germany
  • The Netherlands
  • Norway
  • Switzerland
  • The UK

Read also: Electric vehicles sales this year shows massive improvement

The models

According to Reuters, Tesla in Germany decreased the price of the Model 3 and Model Y by somewhere around 1% to over 17% depending on the vehicle’s configuration.

In Germany in December 2022, the Model Y underperformed compared to the Model 3 in terms of popularity.

The American EV giant trumped Volkswagen and its well-known EV, the ID.4, in Germany.

Comparable to the Model 3 is Volkswagen’s entry-level EV, the ID.3 (at its reduced price).

An independent EV market analyst named TroyTeslike estimates that the price of a brand-new Tesla Model 3 has dropped by 6% to 14% in the US.

Depending on the setup, the Model Y’s price dropped by about 19%.

The Model 3 is Tesla’s entry-level sedan, whereas the Model Y is a sport utility vehicle or crossover.

The more expensive Model S sedan and the falcon-wing SUV Model X are now less pricey in the US.

Tax credits

Depending on their form factor, category, efficiency, mileage range, and manufacturer’s suggested retail price, electric cars can qualify for tax credits in the US.

The US government delayed the implementation of new rules involving the purchase of raw materials and battery components until March in order to let manufacturers be eligible for a $7,500 clean vehicle tax credit.

As a consequence, EV producers may still buy crucial components and materials from international suppliers and qualify for EV subsidies.

According to the current interim laws, those who qualify for government subsidies are excluded from having to complete the final car assembly of EVs in the United States.

Discounts

EV producers can benefit from tax incentives in the near and longer term thanks to the current reductions.

This might irritate customers who agreed to purchase new Tesla vehicles before the end of 2022 at higher prices.

Tesla outraged numerous Chinese clients by reducing the prices of the Model 3 and Model Y after they pledged to accept delivery at higher rates until the end of 2022.

According to Reuters, some customers reportedly protested and sought refunds.

Tesla hasn’t yet caved in.

The company provided a $7,500 discount on the Model 3 and Model Y late last month in an effort to get customers to accept delivery of their cars by the end of the fourth quarter.

In addition, if US customers agreed, the makers would provide free Supercharging for 10,000 miles.

Operations

Despite the discounts, the company said that 405,278 automobiles were delivered in the fourth quarter, and 439,701 vehicles were built.

The company expected a 50% rise in yearly auto deliveries; however, both analyst predictions and the annual goal were missed in the fourth quarter.

Tesla is now operating its first US assembly factory in Fremont, California.

It also has a brand-new plant in Austin, Texas, a manufacturing site abroad in Shanghai, and a brand-new facility in Gruenheide, Germany.

Reference:

Tesla cuts prices in the US and Europe to stoke sales after lackluster year-end deliveries

Minimum wage in US will increase this year

Finny Adams Finny Adams on February 6, 2023

Image source: Money

Minimum wage: At the start of the new year, news of a raise in the worker minimum wage was released.

Since 2009, the federal minimum wage remained at $7.25 per hour, prompting demands for better pay from workers in more than half of the states.

Several states and cities currently intend to raise the minimum wage in 2023, although a few have already set their own rates.

The news

In 26 states, higher minimum wages for this year have been announced.

Wolters Kluwer Legal & Regulatory US payroll experts expect that one more state will join the revision in July.

Twenty-three states, including Washington, DC, started adopting the higher pay on January 1, according to the Economics Policy Institute.

Eight million workers will be impacted as a result.

Price hikes ranging from 23 cents to $1.50 will be implemented.

States implementing the minimum wage increase

  • Delaware: $10.50 – $11.75
  • Illinois: $12 – $13
  • Maryland: $12.50 – $13.25
  • Massachusetts: $14.25 – $15
  • Michigan: $9.87 – $10.10
  • Missouri: $11.15 – $12
  • Nebraska: $9 – $10.50
  • New Jersey: $13 – $14.13 (includes inflation adjustment)
  • New York: $13.20 – $15 (in and around the city), $14.20 (upstate New York)
  • Rhode Island: $12.25 – $13
  • Virginia: $11 – $12

States that will implement the increase later this year

  • Connecticut: $14 – $15 (July 1 implementation)
  • Florida: $11 – $12 (September)
  • Nevada: $9.50 – $10.25 (firms with benefits), $10.50 – $11.25 (firms without benefits)
  • Oregon: $13.50 (July 1 implementation)

Read also: Tax Credit for Electronic Vehicles Usher in Confusion

Catalysts

When inflation reached a 40-year high and people struggled to keep up with soaring expenditures, a crucial decision was reached last summer.

Research assistant at EPI Sebastian Martinez Hickey said:

“The fact that there’s high inflation really just underscores how necessary these minimum wage increases are for workers.”

“Even before the pandemic, there was no country in the United States where you could affordably live as a single adult at $15 an hour.”

The wealth gap in America became painfully clear because of the pandemic and the subsequent economic recovery.

Working conditions and poor wages have been the catalyst for labor movements and significant employers’ campaigns to raise the minimum wage in the past two years.

The pandemic also brought about a persistent imbalance between the supply and demand for labor.

Labor

Employers struggled to recruit and keep workers during most of the year due to a staffing shortage, which increased the average annual hourly wage.

The majority of compensation was surpassed by growing prices even when workers in competitive industries discovered their new pay was higher than inflation.

Michael Reich, an economics professor from California, said:

“The story is different because wages have been increasing at the low-end, much faster than inflation and much faster than in middle- or high-wage jobs.”

“And that means that many workers, even in the $7.25 states, are already getting paid above the minimum wage.”

“Even though the minimum wage might go up by 7% in many states and cities, labor costs aren’t going to go up anywhere as much as they have in the past,” Reich added.

“Because they have already gone up. That also means that prices aren’t going to go up at [places like] restaurants.”

Impact

US President Joe Biden started campaigns to increase the minimum wage to $15 per hour.

He issued an executive order in 2022 that increased the pay of federal employees and contractors to that amount.

But before the nation underwent any significant changes, Congress would have to give its approval.

Although there was a proposal to raise the rate, it was excluded from the bill for the 2021 Covid-19 relief.

According to research associate from the Urban Institute’s Income and Benefits Policy Center Kevin Werner:

“As the gap between that and the federal minimum wage increases, it will be interesting to see if that can kind of spur more momentum for more states to increase their wages or try to get more momentum on the federal level.”

Fifty-six million workers would be affected by the $15 per hour pay adjustment, according to a September report from the Urban Institute.

The study simulated two scenarios in which there were no job losses and two situations in which there were higher job losses as a result of the new minimum wage.

“Even in our highest job loss scenario, we still found that on average, the average worker was better off, and that poverty declined overall,” said Werner.

“Even though some individual people who lost their jobs may have been worse off, the net effect was still positive.”

Read also: Solar power on roofs found to have double benefits

Workers

The majority of workers impacted by a $15 minimum wage, according to Kevin Werner, are older than 25.

People of color and people in poverty are more likely to depend on the minimum wage.

Werner pointed out that boosting the federal minimum wage would benefit struggling people.

According to Holly Sklar, CEO of Business for a Fair Minimum Wage, boosting the minimum wage can also enhance consumer demand.

The local economy will be able to rebound as a result.

“Putting needed raises in minimum wage workers’ pockets [is] really the most efficient way you can boost the economy,” said Sklar.

“Those are the people who have to go right back around and spend it.”

References:

These states are raising their minimum wages in 2023. Chart shows where workers can expect higher pay

New Year’s pay boost: these states are raising their minimum wage

Chef Francesco Calò Elevates the Culinary Experience through Via Toledo Enopizzeria

Finny Adams Finny Adams on January 30, 2023

Chef Francesco Calò is a master pizza chef and founder of the brand Via Toledo. Born into a family of bakers in 1986 in Puglia, Italy, Calò grew up surrounded by the smells and creativity of baking. Despite his desire to join the police force, he enlisted in the Coast Guard and served in the Rimini Harbour Office. But the pull to return to his roots was too strong, and he left the Coast Guard to study the culinary arts, focusing on creatively interpreting Neapolitan pizza.

After obtaining his master’s degree and Neapolitan pizza instructor qualifications, Calò moved to Vienna to start his own gastronomic concept: Via Toledo Enopizzeria, a niche Neapolitan wine pizzeria. Since opening in 2016, the restaurant has received worldwide recognition, including the highly coveted “Golden Fork” award from Austrian national food guides and being named “Best Pizzeria in Austria” multiple times by the prestigious Italian ranking “50 Top Pizza.”

In 2019, Calò took home the prize of “Best Italian Pizzaiolo in the World” at the National Championship of Pizza Doc. And in 2020 and 2021, Via Toledo was awarded “Best Pizzeria in Austria,” “Second-Best Pizzeria in Europe,” “Best Performance of the Year,” and “Best Wine List.”

“Offering my own art and stepping out of the standardized schemes has always been a must for me,” Francesco said. 

Calò’s success with Via Toledo has made him a true pride of Italy, which has achieved immense success in a foreign market. He personally created his own blend of flours, named “Intensa,” to guarantee his customers a natural, healthy, tasty and unique pizza through the different kneading techniques. He has now decided to export his business model to Dubai, with the goal of establishing himself in the UAE and offering new customers an unparalleled culinary experience.

“My worst competitor is myself. I love to challenge myself. I don’t look at others, I listen to that little voice that often likes to challenge me, and then I act. To improve, to grow, to go further, that is my personal challenge that has led me to create something wonderful,” Francesco shared.

Furthermore, his experience of leaving behind his place of comfort to pursue his bigger dreams is truly an inspiration for go-getters everywhere. He insightfully said, “Although I had chosen to take a leap of faith by leaving everything behind by moving abroad and starting afresh, I was happy. I did not know what awaited me, but my motivation was strong, my hunger was incredible. And I am here today because of that; if I had stayed in my comfort zone for fear of an uncertain future, I certainly would not have achieved all that I have built with so much hard work and tenacity.”

With his vision of elevating pizza to the highest culinary experience using advanced production techniques, top-quality raw materials, slow food products, creating new balances and flavors, and pairing them with the best wines, Chef Francesco Calò is redefining how guests enjoy high-quality pizza and Via Toledo is a revolution in the pizza making game.

Electric vehicles sales this year shows massive improvement

Kelly Matthews Kelly Matthews on January 23, 2023

Image source: CNN

Electric vehicles: Today, there are more electric vehicles on the road than ever before, and brands other than Tesla are growing more popular.

Matt Degen, an editor at Cox Automotive, a website and company focused on cars described it best.

“It’s not your eyes tricking you,” highlighted Degen.

“For the longest time, the majority of the EVs on the road were Teslas, and they still get the lion’s share of sales.”

“But they’re now hardly the only game in town.”

The numbers

According to Kelley Blue Book, 5.6% of the vehicles sold in 2021 were electric vehicles.

Only 1.4% of EVs were sold two years earlier.

Norway was mentioned in reference to the experience of the global markets by BloombergNEF researcher Corey Cantor.

A critical turning point for wider adoption was highlighted by the 5% market share.

BloombergNEF further noted that similar trends may be seen in markets like China and Europe.

Although plug-in hybrids were included in Bloomberg’s list of “electric vehicles,” the majority of them are battery-powered.

A norm

Although 5% can seem like a little percentage, it might be the point at which something starts to become common.

For instance, Cox Automotive said that the market share for electric vehicles and Hyundai’s entire US market share are comparable.

It doesn’t feel unusual to buy a Hyundai, and the same is true for electric automobiles.

The ease of purchasing one is the only barrier for electric automobiles, however.

“I think now the demand is definitely there,” said Cantor.

“It’s just been more a supply side of automakers not being able to ship enough.”

Read also: Tax credit for EVs ushers in confusion

Supply & demand

The global auto industry has been plagued by issues with the supply of parts for the entire year 2022, which has slowed manufacturing for a variety of automobiles.

Manufacturers were unprepared for the unexpected popularity of a few electric vehicle models.

As an illustration, the 2021 Mustang Mach-E was the first electric car to slightly reduce Tesla’s sales.

Ford has struggled to keep up with demand since then.

Every Mach-Es manufactured by Ford, according to Darren Palmer, vice president of electric vehicle initiatives, was created in response to a specific client order.

“We could sell it out at least two or three times over,” said Palmer.

“We have held back from launching more global markets because we’re completely sold out.”

A later variant of the F-series pickup truck, the F-150 Lightning, was created by Ford.

Additionally, the company is expanding the facility in Michigan where the Lightning is manufactured.

Variety

Additionally growing has been the variety of electric automobiles available on the market.

According to Kelley Blue Book, 11 EV vehicles sold over 1,000 units in 2019.

There were 26 different electric vehicle models this year.

Although Hyundai and Kia already sold electric vehicles, they released new models for the Hyundai Ioniq 5 and the Kia EV6.

Rivian concurrently released the R1S SUV and R1T truck.

When the Bolt EV and Bolt EUC were reintroduced to the market following a battery fire recall, General Motors also noticed an increase in sales.

The market now offers electric automobiles from the following high-end manufacturers:

  • Audi
  • BMW
  • Genesis
  • Mercedes
  • Volvo

“There’s different segments, there’s different price levels,” said Matt Degen.

“It’s not just having to spend $50,000 or $100,000 on an EV anymore.”

Meanwhile, larger driving ranges and quicker charging times are helping cheaper electric vehicles improve, according to Car and Driver editor-in-chief Tony Quiroga.

The Hyundai Ioniq 5 ($41,000 starting price) also won the 2022 Car and Driver Electric Vehicle of the Year award.

“It’ll go from 10% to 80% on a fast charger in 18 minutes,” said Tony Quiroga. “Which is something that only the luxury brands were doing.”

Read also: TikTok ban seems impossible with wide reach

Inflation Reduction Act

EV sales are projected to increase despite a greater range of electric vehicles available and production issues will be rectified.

There are, nevertheless, some unanswered questions.

Gas prices could be a role, according to Jessica Caldwell, industry analyst for Edmunds.com, as the surge earlier this year led some consumers to consider electric vehicles.

The recent sharp decline in gas costs may discourage shoppers from buying electric vehicles in the coming year.

The Inflation Reduction Act’s impacts, meanwhile, are still unknown.

The act, which was passed this year, altered the conditions under which electric vehicles might qualify for consumer tax credits.

Additionally, it sets a price cap on the car based on the buyer’s income.

Furthermore, some requirements encourage the domestic manufacture of electric vehicles and the batteries that power them.

According to Corey Cantor, the question is not how many electric vehicles will be eligible, but rather which one.

“So, if a Tesla Model 3 and the Chevy Bolt, and the Tesla Model Y, and a Ford Mach-E and an F-150 Lightning all qualify, those are high volume vehicles,” said Cantor.

Incentives could increase sales of electric vehicles because of their popularity and strong sales.

Reference:

Electric vehicle sales hit a tipping point in 2022

Four Seasons Goes Beyond Fashion Focuses on Mental Health Awareness

William Mason William Mason on January 20, 2023

Four Seasons Brand, a leading fashion establishment, is proud to announce its commitment to promoting mental health awareness. The company, founded by Rene Andre Ebelle and his team, is dedicated to balancing ethics and high fashion through sustainable fashion and craftsmanship.

Four Seasons believes that life is like the seasons and that everyone experiences different circumstances throughout their lives. To help support this message, the company will be using a percentage of its quarterly profits to aid in mental illness research.

Mental health is a crucial aspect of overall well-being, yet it has not received the attention it deserves in the fashion industry. Four Seasons is determined to change that by shining a light on the importance of mental health awareness and promoting the message that it’s okay to not always be blooming.

Four Seasons believes that the industry should work to promote mental health awareness and break the stigma of mental illness. This can be done through education, and by creating safe spaces for individuals to share their stories and experiences. This can help to create a more inclusive and supportive environment for everyone in the fashion industry.

“We’re thrilled to be joining this important movement,” said Ebelle. “We believe that fashion should be a platform for expression, individuality, and identity, but it’s also important to recognize the importance of mental health. By working to improve mental health awareness and support research, we hope to make a real difference in people’s lives.”

Four Seasons encourages others in the fashion industry to join the movement for mental health awareness and support mental health research. Together, we can make a positive impact on mental health and wellness.

For more information about Four Seasons, you can visit their website.

Sam Bankman-Fried update: $250 million bail after hearing

Kelly Matthews Kelly Matthews on January 16, 2023

Image source: Forbes

Sam Bankman-Fried: According to a decision reached by a federal judge in New York on Thursday, the creator of FTX might be released on a $250 million bond.

He faces fraud and other crimes and is awaiting trial.

The news

Around 2:00 p.m., Sam Bankman-Fried, his parents, lawyer, and court security exited the Manhattan US District Court.

The prosecutors and his attorneys accepted the bail conditions for Bankman-personal Fried’s recognizance.

Judge Ronnie Abrams will preside over the 30-year-old’s second hearing on January 3 in New York City.

There, he will face charges and reach a plea.

Bond

A written pledge from the defendant to show up in court in response to a summons is known as a recognizance bond.

Sam Bankman-Fried won’t have to fulfill all of the bail’s collateral demands after being released.

His parents and two other individuals with significant assets signed the bond, backed by his family’s home equity.

The prosecution referred to the $250 million package, which also includes an electronic monitoring bracelet, as the highest pretrial bond in history.

He must consent to receive therapy for his mental health and must stay away from the Southern and Eastern Districts of New York and the Northern District of California.

Read also: The Federal Reserve 2022 influence, stock market movement

In the court

Bankman-Fried would need ongoing supervision after being allowed to return to his parents’ California home, according to Judge Gabriel Gorenstein.

SBF’s parents, who are both professors of law at Stanford, were present in court.

Two US marshals in blue suits and brown shoes were positioned on either side of the founder of FTX.

While in the courtroom, he exchanged his ankle shackles for an ankle monitor.

Sam Bankman-Fried didn’t say anything until the judge questioned whether he understood the consequences of violating the bail terms.

“Yes, I do,” said SBF.

Additionally, Bankman-Fried is not permitted to open new credit accounts with a total value of more than $1,000.

While they wait for the trial to begin, federal regulators label him a “brazen” fraud at his crypto-empire.

According to Assistant US Attorney Nicolas Roo, during the court proceedings, SBF was at the center of “a fraud of epic proportions.”

Roos declared that SBF had severely reduced his financial assets, had freely returned to the US, and had never fled.

Former $32 billion crypto tycoon Sam Bankman-Fried allegedly claimed to have only $100,000 in his bank account.

The man experienced a sharp fall as a result.

Accusations

The accusations against Sam Bankman-Fried are as follows:

  • Perpetrating a multibillion-dollar fraud on his investors
  • Using customer funds to purchase properties
  • Funding political donations
  • Backstop trades at his hedge fund Alameda Research

Last Monday, the Commodity Futures Trading Commission filed new charges against SBF, FTX, and Alameda Research.

They asserted that Bankman-Fried broke the Commodities Exchange Act and that FTX intermingled consumer monies.

Alameda Research allegedly had access to more than $8 billion in client money.

FTX client funds have been available and used by Alameda for its operations and activities since the company’s establishment in 2019, including:

  • Trading
  • Funding
  • Investment
  • Borrowing/lending

The CFTC concurred with the SEC’s allegations that Sam Bankman-Fried ran his empire as a fraud from the beginning.

On November 11, FTX filed for bankruptcy protection in Delaware.

Sam Bankman-Fried’s replacement as CEO of FTX, John Ray III, declared that he had never witnessed such a loss of corporate control.

SBF’s lieutenants

Gary Wang, a co-founder of FTX, and Caroline Ellison, a former co-CEO of Alameda Research, both entered guilty pleas to federal charges on Wednesday.

Gary Wang admitted to the following charges:

  • Conspiracy to commit wire fraud
  • Wire fraud
  • Conspiracy to commit commodities fraud
  • Conspiracy to commit securities fraud

Meanwhile, Caroline Ellison had committed:

  • Two counts of wire fraud
  • Two counts of conspiracy to commit wire fraud
  • Conspiracy to commit commodities fraud
  • Conspiracy to commit securities fraud
  • Conspiracy to commit money laundering

Their plea deals were made available to the public on Wednesday.

Read also: FTX co-founder and Alameda co-CEO agree to guilty verdicts

SBF

The US Attorney charged Sam Bankman-Fried with eight counts, including securities fraud and money laundering.

On Wednesday night, he was flown from the Bahamas to New York.

Compared to other federal white-collar defendants, SBF’s bail is significantly greater.

  • Bernie Madoff secured a $10 million bail in anticipation of his upcoming Ponzi scheme trial.
  • Jeff Skilling, the former CEO of Enron, posted a $5 million bond.
  • Theranos’s founder Elizabeth Holmes posted a $500,000 bond.

Reference:

FTX founder Sam Bankman-Fried to be released on $250 million bail, will live with his parents

CFTC piles on new charges against Bankman-Fried, FTX and Alameda

FTX’s Gary Wang, Alameda’s Coraline Ellison plead guilty to federal charges, cooperating with prosecutors

FTX co-founder and Alameda co-CEO agree to guilty verdicts

Joshua Porter Joshua Porter on January 11, 2023

Image source: The Wall Street Journal

FTX: Caroline Ellison, a former co-CEO of Alameda Research, and Gary Wang, a co-founder of FTX, entered guilty pleas to federal charges on Wednesday.

The charges

The two FTX associates pleaded guilty in the Southern District of New York, according to US Attorney Damian Williams.

Gary Wang entered a guilty plea to the following offenses:

  • Conspiracy to commit wire fraud
  • Wire fraud
  • Conspiracy to commit commodities fraud
  • Conspiracy to commit securities fraud

Caroline Ellison, however, was also accused of the following offenses:

  • Two counts of wire fraud
  • Two counts of conspiracy to commit wire fraud
  • Conspiracy to commit commodities fraud
  • Conspiracy to commit securities fraud
  • Conspiracy to commit money laundering

Their allegations were made known the night before Sam Bankman-Fried, the former CEO of FTX, was scheduled to depart for New York from the Bahamas.

He is being prosecuted for eight federal offenses by the same federal prosecutors who approved the plea deals for Ellison and Wang.

Monday saw the completion of their plea deals, just in time for SBF’s scheduled departure for the US following a contentious court hearing in the Bahamas.

“As I said last week, this investigation is very much ongoing,” said Williams in a prerecorded message.

“I also said that last week’s announcement would not be our last. And let me be clear, once again, neither is today’s.”

Read also: Sam Bankman-Fried contributed to lawmakers campaign with sizable donations

SBF

Sam Bankman-Fried was charged in the Southern District of New York after being captured in the Bahamas the week before.

The intense legal debate over the past few days centered around his willingness to be extradited to the US.

Following a lengthy court hearing on Monday, where it was reportedly unsuccessful in stopping his extradition to the US, he was sent to jail in the Bahamas.

He reportedly instructed his Bahamian lawyer to start the extradition procedure later that day.

This week, Sam Bankman-Fried will make another court appearance.

According to earlier reports, he would consent to extradition, but SBF on Monday expressed a different viewpoint.

Before deciding to return to the US, he insisted on viewing a copy of his federal indictment.

Bankman-Fried, however, decided to choose detention over turning himself in to US authorities.

The SEC

Gary Wang and Caroline Ellison are the targets of proceedings brought by the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Wang and Samuel Bankman-Fried co-founded the cryptocurrency trading platform FTX, which the SEC claims was the focus of a “multiyear plan to defraud equity investors.”

The following allegations are made in the CFTC’s expanded complaint:

“Ellison with fraud and material misrepresentations in connection with the sale of digital asset commodities in interstate commerce.”

Wang is charged with fraud “in connection with the selling of digital asset commodities in interstate commerce,” according to the indictment.

Wang and Ellison are said to have given their consent to the accusations brought against them, according to the CFTC statement.

Caroline Ellison was singled out for wilfully manipulating FTT (FTX’s self-issued token) to enhance Alameda Research’s loanable collateral.

According to the SEC, Ellison and Wang are helping with the inquiry.

Read also: Sherrod Brown eager to ban crypto in the US

FTX and Alameda

Numerous loans from well-known cryptocurrency businesses that declared bankruptcy, most notably Voyager Digital and BlockFi Lending, were connected to Alameda Research.

Damian Williams did not go into detail about the accusations made against Wang and Ellison.

According to the SEC, they allegedly helped Sam Bankman-Fried commit fraud against FTX clients while carrying out their individual responsibilities at Alameda and FTX.

Alameda is accused of using a backdoor Wang incorporated into the program to access consumer funds via the FTX platform.

Until Caroline Ellison and Sam Trabucco took over in 2021, Sam Bankman-Fried served as the leader of Alameda (Trabucco departed the company in August 2022).

The second and third suspects regarding the FTX collapse were Ellison, 28, and Wang, 29.

This month, 30-year-old Sam Bankman-Fried was accused of a federal violation.

“Bankman-Fried and Wang thus gave Alameda and Ellison carte blanche to use FTX customer assets for Alameda’s trading operations and for whatever other purposes Bankman-Fried and Ellison saw fit,” said the SEC.

They insisted Trabucco was not connected to any wrongdoing.

Wang’s legal counsel then said the following:

“Gary has accepted responsibility for his actions and takes seriously his obligations as a cooperating witness.”

References:

FTX’s Gary Wang, Alameda’s Caroline Ellison plead guilty to federal charges, cooperating with prosecutors

FTX founder Bankman-Fried sent back to Bahamas jail in day of courtroom chaos