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Estate Planning: 5 Things to Consider

If you are preparing to draft your estate plan with your estate planning attorney, there are a variety of issues that you will need to think about before your documents can be finalized.

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Prior to drafting your estate plan, we recommend that you give some thought to the following items:

  1. How do you want your money and assets handled if you die? Do you want any restrictions? If you are married, do you want your spouse to handle all assets? Are you worried about your spouse remarrying and being influenced by the spouse? It is important to know how you want your money to be managed when you or your spouse dies, especially if you have minor children.
  2. If you have minor children, who will be their guardian? This is a very difficult discussion to have, but it’s better to make this decision than leave it up to the probate court. Many parents hope to avoid lengthy, emotional guardianship proceedings for their minor children.
  3. Upon your death, where do you want your money, house, etc. to go? Do you want it to go to family, children, friends, charities, etc.? And do you want it given all at once? Or staggered? We typically recommend distributing money to children at certain ages, instead of in a lump sum.
  4. Who will handle your affairs when you die? You need to appoint someone to be your trustee. This will be the person that you name to follow the instructions laid out in your estate plan regarding distribution or other plans you have set forth. This is usually your spouse first if you are married, then the most responsible person you know.
  5. Who will make decisions for you if you are incapacitated? Usually, married clients designate their spouse as their power of attorney for both health and financial issues. If your spouse is already incapacitated or predeceased you or if you are single, who would you want to handle these issues? It can be the same person, or different people, to handle medical and financial people.

These are some of the decisions you should consider.

We often help our clients walk through these decisions and provide further guidance as we draft their documents.

If you need help, contact us today.

Contact us today to help you get the right documents in place or to update your current estate plan. We will plan so that you don’t have to worry about your future.

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UBS ETRACS Linked to the Wells Fargo Business Development Company Index ETN (NYSEARCA:BDCS) Stock Price Passes Above Two Hundred Day Moving Average of $15.23

UBS ETRACS Linked to the Wells Fargo Business Development Company Index ETN (NYSEARCA:BDCS – Get Rating) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.23 and traded as high as $15.31. UBS ETRACS Linked to the Wells Fargo Business Development Company Index ETN shares last traded at $15.23, with a volume of 14,900 shares.

UBS ETRACS Linked to the Wells Fargo Business Development Company Index ETN Stock Up 0.1 %

The firm has a fifty day simple moving average of $15.23 and a 200-day simple moving average of $15.23.

Further Reading

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Elon Musk’s Twitter drops government-funded media labels – Business News

Twitter has removed labels describing global media organizations as government-funded or state-affiliated, a move that comes after the Elon Musk-owned platform started stripping blue verification checkmarks from accounts that don’t pay a monthly fee.

Among those no longer labeled was National Public Radio in the US, which announced last week that it would stop using Twitter after its main account was designated state-affiliated media, a term also used to identify media outlets controlled or heavily influenced by authoritarian governments, such as Russia and China.

Twitter later changed the label to “government-funded media,” but NPR — which relies on the government for a tiny fraction of its funding — said it was still misleading.

Canadian Broadcasting Corp. and Swedish public radio made similar decisions to quit tweeting. CBC’s government-funded label vanished Friday, along with the state-affiliated tags on media accounts including Sputnik and RT in Russia and Xinhua in China.

Many of Twitter’s high-profile users on Thursday lost the blue checks that helped verify their identity and distinguish them from impostors.

Twitter has about 300,000 verified users under the original blue-check system — many of them journalists, athletes and public figures. The checks used to mean the account was verified by Twitter to be who it says it is.

High-profile users who lost their blue checks Thursday included Beyoncé, Pope Francis, Oprah Winfrey and former President Donald Trump.

The costs of keeping the marks range from $8 a month for individual web users to a starting price of $1,000 monthly to verify an organization, plus $50 monthly for each affiliate or employee account. Twitter does not verify the individual accounts, as was the case with the previous blue check done out during the platform’s pre-Musk administration.

Celebrity users, from basketball star LeBron James to author Stephen King and Star Trek’s William Shatner, have balked at joining — although on Thursday, all three had blue checks indicating that the account paid for verification.

King, for one, said he hadn’t paid.

“My Twitter account says I’ve subscribed to Twitter Blue. I haven’t. My Twitter account says I’ve given a phone number. I haven’t,” King tweeted Thursday. “Just so you know.”

In a reply to King’s tweet, Musk said “You’re welcome namaste” and in another tweet he said he’s “paying for a few personally.” He later tweeted he was just paying for King, Shatner and James.

Singer Dionne Warwick tweeted earlier in the week that the site’s verification system “is an absolute mess.”

“The way Twitter is going anyone could be me now,” Warwick said. She had earlier vowed not to pay for Twitter Blue, saying the monthly fee “could (and will) be going toward my extra hot lattes.”

On Thursday, Warwick lost her blue check (which is actually a white check mark on a blue background).

For users who still had a blue check Thursday, a popup message indicated that the account “is verified because they are subscribed to Twitter Blue and verified their phone number.” Verifying a phone number simply means that the person has a phone number and they verified that they have access to it — it does not confirm the person’s identity.

It wasn’t just celebrities and journalists who lost their blue checks Thursday. Many government agencies, nonprofits and public-service accounts around the world found themselves no longer verified, raising concerns that Twitter could lose its status as a platform for getting accurate, up-to-date information from authentic sources, including in emergencies.

While Twitter offers gold checks for “verified organizations” and gray checks for government organizations and their affiliates, it’s not clear how the platform costs these out.

The official Twitter account of the New York City government, which earlier had a blue check, tweeted on Thursday that “This is an authentic Twitter account representing the New York City Government. This is the only account for @NYCGov run by New York City government” in an attempt to clear up confusion.

A newly created spoof account with 36 followers (also without a blue check), disagreed: “No, you’re not. THIS account is the only authentic Twitter account representing and running by the New York City Government.”

Soon, another spoof account — purporting to be Pope Francis — weighed in too: “By the authority vested in me, Pope Francis, I declare @NYC_GOVERNMENT the official New York City Government. Peace be with you.”

Fewer than 5% of legacy verified accounts appear to have paid to join Twitter Blue as of Thursday, according to an analysis by Travis Brown, a Berlin-based developer of software for tracking social media.

Musk’s move has riled up some high-profile users and pleased some right-wing figures and Musk fans who thought the marks were unfair. But it is not an obvious money-maker for the social media platform that has long relied on advertising for most of its revenue.

Digital intelligence platform Similarweb analyzed how many people signed up for Twitter Blue on their desktop computers and only detected 116,000 confirmed sign-ups last month, which at $8 or $11 per month does not represent a major revenue stream. The analysis did not count accounts bought via mobile apps.

After buying San Francisco-based Twitter for $44 billion in October, Musk has been trying to boost the struggling platform’s revenue by pushing more people to pay for a premium subscription. But his move also reflects his assertion that the blue verification marks have become an unserved or “corrupt” status symbol for elite personalities, news reporters and others granted verification for free by Twitter’s previous leadership.

Twitter began tagging profiles with a blue check mark starting about 14 years ago. Along with shielding celebrities from impersonators, one of the main reasons was to provide an extra tool to curb misinformation coming from accounts of impersonating people. Most “legacy blue checks,” including the accounts of politicians, activists and people who suddenly find themselves in the news, as well as little-known journalists at small publications around the globe, are not household names.

One of Musk’s first product moves after taking over Twitter was to launch a service granting blue checks to anyone willing to pay $8 a month. But it was quickly inundated by impostor accounts, including those impersonating Nintendo, pharmaceutical company Eli Lilly and Musk’s businesses Tesla and SpaceX, so Twitter had to temporarily suspend the service days after its launch.

The relaunched service costs $8 a month for web users and $11 a month for users of its iPhone or Android apps. Subscribers are supposed to see fewer ads, be able to post longer videos and have their tweets featured more prominently.

Swedbank Q1 Profits Beats Expectations on Better Deposit Margins

STOCKHOLM (Reuters) -Swedish bank Swedbank reported first-quarter net profit above market expectations on Thursday and said higher deposit margins had boosted results, although credit impairments also rose.

The rivals of Handelsbanken, SEB and Nordea said net profit totaled 7.56 billion Swedish crowns ($733.24 million) versus a year-ago 4.48 billion, topping a mean forecast of 6.62 billion, according to analyst estimates provided by the company.

CEO Jens Henriksson said Swedbank had a strong start to the year.

“The driving factor was higher net interest income, which strengthened thanks to higher deposit margins,” he told a news conference.

Higher interest rates have meant that Swedish banks have increased margins on their loan business. The Riksbank raised interest rates to 3.5% on Wednesday, up from zero just over a year ago, and said a further hike was likely.

Swedbank, Sweden’s biggest mortgage bank, said its net interest income, which includes revenue from mortgages, rose by 77% to 11.94 billion from a year-ago 6.76 billion, above the 11.37 billion expected by analysts.

Commission income rose to 3.66 billion crowns from a year ago 3.55 billion, above the mean forecast of 3.48 billion, while the bank made a profit on financial transactions, including hedging instruments, of 916 million compared to 139 million a year earlier.

Swedbank said its credit impairments rose to 777 million crowns from 158 million a year ago, above the 386 million seen by analysts.

(Reporting by Johan Ahlander, editing by Terje Solsvik)

Copyright 2023 Thomson Reuters.

Groves coffee house gets new owners, expands to Orange County – Port Arthur News

Groves coffee house gets new owners, expands to Orange County

Published 12:22 am Friday, April 7, 2023

GROVES — Paul Borel was a long time customer of Sundara Coffee House & Grill before he became the owner.

Borel would go to the Groves shop daily for what he described as the best coffee he’s ever had, which was created by original owners Herb and Cindy Kreutzer.

The business changed hands and later, when a different owner considered closing Sundara, Borel made an offer.

“It’s been a part of the Groves community for years,” Borel said. “I’m born and raised in Groves and wanted to keep it alive. I have nothing but admiration for Herb and Cindy, and I want to keep their legacy going.”

Borel also worried about the dedicated employees, saying he couldn’t let them lose their jobs.

Sundara serves freshly made baked items. (Courtesy photo)

The allure of the roast

Borel is enamored with the coffee that the Kreutzers serve, and he continues to serve it.

“Herb and Cindy did some extensive research and they came up with a special blend of three different beans from Mexico, Columbia and Brazil and they experimented with a roasting company until they found the exact way to roast the beans,” he said.

“It is specific to Sundara, and Sundara is the only place you can have it. It is a unique flavour; once you taste it you won’t want coffee from anywhere else. I really believe that. I would go every day before I was the owner.

Adrian Todd, Sundara’s general manager, has a long history of working in the restaurant business and is capable of juggling the necessary duties, as well as acting as a barista, cooking and running supplies to the Orangefield location.

He said the most popular drink is the caramel frappe.

Todd said it is similar to what one might get at another coffee shop nearby.

“But it’s made with love, that’s what I like to say,” Todd said.

He is in the process of developing a drink specifically for the City of Groves. Todd did some research and learned from Groves’ ties to pecans.

“A pecan praline frappe,” he said of what the Groves-inspired drink would be. “I did some surveys beforehand and asked folks if they would buy it, and they found it enticing. I have people still pressing me to know when (I will do it.)”

atmosphere

Todd said the atmosphere at Sundara is community driven, even if there is a well-known coffee chain business down the street.

“This is the place where folks can run into their neighbors, run into their friends and sit outside and talk,” Todd said. “I spent 20 years in San Antonio in the restaurant business. Coffee shops like this have always been special to me because that’s where I would hang out in San Antonio, where I would go.”

Todd isn’t looking to reinvent the wheel at Sundara. He wanted to keep the original legacy alive and breathe some fresh air into the shop, he said.

Sundara’s Orangefield location is at 6381 FM 1442 — the corner of FM 105 and FM 1442. (Courtesy photo)

Orangefield

The Orangefield location at 6381 FM 1442 — the corner of FM 105 and FM 1442 — opened in December and, currently, serves the coffees with a few exceptions.

Borel said they send soups and baked goods to Orangefield which are cooked in the Groves location.

He said the public reaction has been overwhelming.

“It’s amazing the support we’ve gotten, the likes and responses we got,” Borel said.

Like the Groves community, the Orangefield community welcomed Sundara with open arms, he said.

Future

Borel is looking to become more involved in the community and collaborate with other local businesses. He’s already on that path with a Sundara loyalty card that, after a certain amount of purchases, the card bearer can get a free car wash at a local business.

Employees of that business are then able to get discounts on their purchases at the coffee house.

Borel looks to add more businesses to the card, he said.

The future of the Orangefield location includes the possibility of adding a kitchen, he added.

What is the Cost of a Data Breach?

A recent study found that the total average cost of a healthcare breach is $10.10 million. Can your healthcare practice afford a breach?

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Can your healthcare practice afford a breach? Most healthcare entities cannot.

Since 2020, healthcare breach costs have risen by 42%.

As we know healthcare breaches are incessant, it is important to understand trends.

The trends that have emerged over the past few years are:

  1. Repeat attacks. Many healthcare entities have seen repeat attacks. Organizations with automated security systems were able to shorten the breach lifecycle and mitigate the damage caused by the breach.
  2. Consistent causes. The most common cause of data breaches were stolen credentials. Ransomware also continues to plague healthcare entities, with ransomware increasing by 41% in the last year.
  3. Consistent place. The most common place for data breaches to occur is in the cloud.

While data breaches can be threatening, there are also good trends that have emerged over the past few years. These include:

  1. Automated security shortens breach lifecycles. When possible, make sure that your updates are automated and all security patches are up to date. Having sufficient security measures in place is your first line of defense for a cyber attack or breach.
  2. Shorter breach lifecycles mean lower costs. The quicker your practice is being able to audit the damage and get up and running after a breach, the less money the breach will cost.
  3. Having appropriate policies and procedures with well-trained employees leads to shorter lifecycles. When your staff knows how to handle a breach, they can act quickly and mitigate the damage caused by the breach. This is essential when trying to get your practice back online and keep your patients’ protected health information unaffected.

So how can you protect your practice?

  1. Work with your healthcare attorney to ensure that your HIPAA risk assessment is up to date and your security measures are sufficient.
  2. Test your breach readiness plan often.
  3. Make sure your policies and procedures clearly detail how to proceed in the event of a breach.
  4. Train your employees. We help our clients train their employees to know what to look for and what steps to take to respond to a breach right away.

If you have questions or need help with your healthcare breach readiness and response or HIPAA risk assessment, contact Rickard & Associates today.

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Do I Need an Emergency List?

We frequently have questions related to the practical and financial panic after a death in the family when accounts, passwords, and assets are unknown. Sometimes, a family knows an estate plan was done but they cannot find the plan and don’t even know the law firm that drafted the plan. An emergency list can help to avoid these issues.

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We often see people lose their spouse, and have no idea how to access bank accounts, pay their bills, or even know what retirement accounts exist.

Because of this, we often recommend that clients compile a list of important assets, passwords, locations of important documents, etc.

In the event of an emergency, incapacitation, or even death, this list can help.

So what should you have on this emergency list?

  • If you work with any professional, such as your lawyers, physicians, financial advisors, etc., put their contact information on the list so that your loved ones can reach out to them, if necessary.
  • A list of all of your assets and how you can access them. Don’t forget to include pension information, retirement accounts, bank accounts, etc.
  • Put information about the location of your estate firm and contact information from the lawyer that drafted it.
  • Put information as to where all of your important documents are kept, such as your vehicle titles, deeds, Social Security cards, etc.

In an emergency situation, people don’t want to be scrambling to find important documents.

Life is full of uncertainties, but careful planning can help lessen the burden when you are already going through a tough situation.

Having a complete list can be incredibly helpful to your loved ones. It also ensures that your estate plan will be placed and carried out as intended.

It is also important to remember to update the list as your assets change. Keep the list current to eliminate confusion.

If you need help with your estate plan or creating an emergency list, we can help.

Contact us today to help you get the right documents in place or to update your current estate plan. We will plan so that you don’t have to worry about your future.

We publish vital information every Wednesday and Friday. To get this important information delivered directly to your mailbox,

Contact us today with all your legal needs!

China accuses Washington of wanting ‘technological hegemony’ in Huawei battle – Business News

China’s government accused Washington on Tuesday of pursuing “technology hegemony” following news reports the United States might step up pressure on tech giant Huawei by blocking all access to American suppliers.

The possible move, reported by Bloomberg News, The Financial Times and The Wall Street Journal, would tighten restrictions imposed in 2019 that limit Huawei’s access to processor chips and other technology. The company, which makes network equipment and smartphones, was allowed to buy some less advanced components.

Huawei Technologies Ltd., China’s first global tech brand, is at the center of conflict between Washington and Beijing over technology and security. US officials say Huawei is a security risk and might facilitate Chinese spying, an accusation the company denies.

“China is seriously concerned about the reports,” said a foreign ministry spokeswoman, Mao Ning. She accused Washington of “over-stretching the concept of national security and abusing state power” to suppress Chinese competitors.

“Such practices are contrary to the principles of market economy” and are “blatant technological hegemony,” Mao said.

Mao said Beijing would “defend the legitimate rights” of its companies but gave no indication of how the government might respond. Beijing has made similar declarations after past US actions against its companies but often does nothing.

The ban on sales of advanced US processor chips and music, maps and other services from Alphabet Inc.’s Google unit crippled Huawei’s smartphone business. The company sold its low-end Honor smartphone brand to revive sales by separating it from the sanctions on its corporate parent.

The Commerce Department agreed to grant export licenses to US companies to allow them to sell less-advanced chips and other technology to Huawei that was deemed not to be a security risk. That followed by complaints from suppliers would lose billions of dollars in annual sales.

The Biden administration is considering no longer granting such licenses, although no decision has been made, the news outlets reported, citing unidentified people familiar with official deliberations.

Huawei scrambled to remove US components from its network and other products and has launched new business lines serving factories, self-driving cars and other industrial customers. The company hopes those are less vulnerable to US pressure.

Huawei says its business is starting to rebound.

“In 2020, we successfully pulled ourselves out of crisis mode,” Eric Xu, one of three Huawei executives who took turns as chairman, said in a December letter to employees. “US restrictions are now our new normal, and we’re back to business as usual.”

Last year’s revenue was forecast to be slightly-changed from 2021 at 636.9 billion yuan ($91.6 billion), Xu said.