Small business

Subterms

    Latest story

    125 Shares104 Views

    Data Centers’ Hunger for Energy Could Raise All Electric Bills

    by

    Individuals and small businesses may end up bearing some of the cost of grid upgrades needed for large electricity users, a new report found.Individuals and small business have been paying more for power in recent years, and their electricity rates may climb higher still.That’s because the cost of the power plants, transmission lines and other equipment that utilities need to serve data centers, factories and other large users of electricity is likely to be spread to everybody who uses electricity, according to a new report.The report by Wood MacKenzie, an energy research firm, examined 20 large power users. In almost all of those cases, the firm found, the money that large energy users paid to electric utilities would not be enough to cover the cost of the equipment needed to serve them. The rest of the costs would be borne by other utility customers or the utility itself.The utilities “either need to socialize the cost to other ratepayers or absorb that cost — essentially, their shareholders would take the hit,” said Ben Hertz-Shargel, who is the global head of grid edge research for Wood MacKenzie.This is not a theoretical dilemma for utilities and the state officials who oversee their operations and approve or reject their rates. Electricity demand is expected to grow substantially over the next several decades as technology companies build large data centers for their artificial intelligence businesses. Electricity demand in some parts of the United States is expected to increase as much as 15 percent over just the next four years after several decades of little or no growth.The rapid increase in data centers, which use electricity to power computer servers and keep them cool, has strained many utilities. Demand is also growing because of new factories and the greater use of electric cars and electric heating and cooling.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    More stories

    • 163 Shares73 Views

      in Elections

      Why New York City Is Removing Padlocks on Illegal Weed Shops It Closed

      by

      With the court orders that allowed the city to seal illicit cannabis stores starting to expire, questions remain about whether the shops could reopen.Mayor Eric Adams of New York on Wednesday visited a pizzeria in Queens that was once an illegal smoke shop to celebrate the success of his administration’s crackdown on illegal cannabis shops, even as the city is bracing for a potential resurgence.Mr. Adams said the pizzeria, which is named Salsa and opened in Rego Park in March, demonstrated how the enforcement against illegal weed sellers has paved the way for other small businesses to open and for the legal cannabis industry to thrive.“We went from illegal items that were harmful to communities to pizza, good food, good-paying jobs and a support system,” he said.The mayor said his administration has shut down about 1,400 smoke shops since the crackdown started last May. At the same time, the number of licensed cannabis dispensaries in the city has surpassed 160 and generated more than $350 million in sales.In the wake of state lawmakers’ decision to legalize recreational marijuana in 2021, the number of unlicensed weed shops exploded throughout the city, undercutting licensed dispensaries before they had the chance to open. The move to shutter the renegade shops — which in Manhattan alone vastly exceeded the number of Starbucks coffee shops — was widely applauded.But the court orders that allowed the city sheriff to seal the illegal businesses with padlocks for one year have begun to expire, requiring the city to remove the locks.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 88 Shares179 Views

      in Elections

      Uncertainty Over Trump’s Tariffs Paralyzes U.S. Businesses

      by

      Three months ago, things were looking pretty good for Tim Fulton and Ramper Innovations, a manufacturer of airplane equipment based in Sitka, Alaska.Mr. Fulton was spending his days inside his workshop doing what he loved: building the company’s main product — a fold-up conveyor belt that unfurls in the belly of a plane to load and unload cargo or luggage. He had an order from the U.S. Air Force that he was confident would serve as a catalyst and bring in new customers from Asia and the Middle East while luring potential investors.Then, the tariffs from President Trump struck.The New York Times heard from Mr. Fulton and hundreds of other American business owners who said they have been stunned into paralysis by Mr. Trump’s barrage of tariffs. They are reassessing their product lines and supply chains and even putting their operations on hold.Mr. Fulton, 66, was floored at the size of the tariffs and how quickly and chaotically they were applied. There were tariffs on Mexico and Canada and steel and aluminum. Mr. Trump hit dozens of countries with higher “reciprocal” tariffs he then put on hold when financial markets crashed. China struck back and the import tariff on Chinese goods ratcheted up to 145 percent.Even though Ramper makes its products in the United States and buys as much of its components as possible from American companies, there is no getting around the tariffs. Some essential parts, such as motorized and static rollers from Japan, are only available overseas. The raw materials needed to build other critical parts are also imported. Most of Ramper’s U.S. suppliers rely on imports for some part of their supply chain.Ramper raised its price 17 percent — a ballpark estimate for how much the tariffs would inflate its costs. Mr. Fulton also warned prospective customers that he may need to increase his price further if tariffs pushed his costs up by more than 5 percent. Prospective customers balked at the higher prices and the uncertainty of what the final price might be.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 150 Shares119 Views

      in Elections

      UK Cuts Tariffs on Dozens of Products as Global Trade Tensions Rise

      by

      British officials also announced more financing for exporters as the country sought to protect firms hurt by tariffs.The British government ramped up actions to help protect businesses and households from some of the economic tumult created by President Trump’s decision to raise tariffs and upend the norms of global trade.The government said on Sunday it would suspend tariffs on 89 products for about two years to help businesses and consumers save money. The products include those for construction, such as plywood and plastics, and everyday household items, such as pasta and fruit juices.Officials will also increase financing support for exporters by 20 billion pounds ($26 billion), through partial loan guarantees, and give small businesses access to loans of up to £2 million.As Mr. Trump raises tariffs on most imports, including those from Britain, to a 10 percent base line and even higher for certain goods like cars and steel, the British government has sought to calm anxieties at home. Officials have said they want to move quickly to support companies as they try to sustain fragile economic momentum.“This week, we witnessed the uncertainty of a changing world,” Rachel Reeves, the chancellor of the Exchequer, wrote in The Observer, a Sunday newspaper. In response, the government “must rise to meet the moment,” she wrote.The announcements on Sunday followed other interventions by the government in recent days to bolster protections for firms affected by tariffs. On April 6, the government eased rules on electric vehicle sales after Mr. Trump imposed a 25 percent tariff on cars imported into the United States. British officials also relaxed regulations to speed up timelines for clinical trials to support the life sciences sector with Mr. Trump also expected to impose levies on the pharmaceutical industry.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 150 Shares159 Views

      in US Politics

      UK marketplace sellers face ‘second Brexit’ hit from Trump’s US import rules

      by

      Many UK-based independent sellers on marketplaces such as eBay and Amazon could suffer a significant hit to US sales from planned changes to import rules under Donald Trump, with experts comparing the impact to a second Brexit.The new rules, which mean all parcels originating or made in China and being sold into the US must pay import duty – of as much as 15% on fashion items – and an additional 10% tariff, are also expected to impact bigger online clothing retailers such as Asos and Boohoo.The changes were introduced at the start of February in an attempt to protect US retailers from a surge in competition from the likes of Chinese online marketplaces Shein and Temu, but were indefinitely paused after the US customs service struggled to cope with the massive increase in parcels requiring checks last week.However, they are expected to be implemented within the coming months, potentially driving up prices for US consumers and hitting sales for online retailers.Before the change, parcels with a value of less than $800 (£635) shipped to individuals in the US were exempt from import tax and did not pass through the usual customs checks. That scheme, originally designed to help smooth online shopping, is being revoked after it emerged that the number of shipments under the “de minimis” rules had ballooned to more than 1bn, valued at $54.5bn by 2023 – most of them from China or Hong Kong via firms including Shein and Temu.“You are looking at an increase of $30 to $50 per consignment [group of parcels],” said Brad Ashton at the advisory firm RSM. “It is creating a perfect storm for online retailers putting goods into the US market. It has a lot of the hallmarks of Brexit in terms of its potential impact on small traders.“Businesses will see their margins eroded because costs will increase. We may get to a point where the changes make a UK business uncompetitive in selling to the US.”The widespread use of Chinese factories for many British brands, particularly in fashion, means businesses such as Asos and Boohoo will be drawn in, as well as many UK independent marketplace sellers.It will not just affect goods made in China and then sent from the UK, but potentially a much wider array, as any package containing even one product made in China may have to pay import tax and pass through customs checks, further increasing costs, according to experts.There is also an expectation that the de minimis rules will eventually be scrapped for all imports, no matter their origin.About $5bn worth of parcels were exported to the US from the UK under de minimis rules in 2021, according to a Congressional Research Service analysis of data from US Customs and Border Protection. About 80% of that was estimated to be related to online retail, with fashion likely to be a large proportion of it.Chris White, at the logistics company Fulfilmentcrowd, said that during the brief period when the rules were in place in early February, one-third of the parcels it shipped to the US from the UK were found to be of Chinese origin and subject to the new taxes.Fast-fashion specialists Asos and Boohoo sell about £300m of clothing a year to the US. Both are already struggling to compete with the rise of Shein and high street retailers, which have revived after the Covid pandemic. John Stevenson, a retail analyst at Peel Hunt, said Asos and Boohoo would have to “adjust prices or take a view on [the] profitability of operating in the US”.As well as the higher tax charges, customs checks required after the rule change will add as much as two days to the processing of orders, making UK retailers less competitive with US-based operators on the speed of delivery.skip past newsletter promotionafter newsletter promotionStevenson said the hit to Asos and Boohoo was “not business-critical” in the way it could be for Shein or Temu, which he believed were heavily reliant on the tax benefit, but that it would have an impact.In the short term, online sellers will probably have lower sales because of uncertainty among US shoppers over possible taxes. White said that during the period when the new rules were in place, similar parcels were loaded with different levels of duty as local customs officers made different decisions.He said a further element of the rule change might be to expose brands that were “trading on an image of being British or European” as being “made in China and not Savile Row”, potentially damaging their appeal.There would be “lots of crossed fingers and puzzled faces” over the changes in legislation, with retailers potentially opening more US warehousing or, longer term, to switch sources of supply, White added.Boohoo closed its US warehouse earlier this year, and Asos is scheduled to close its facility there in November. However, a reversal could be on the cards if the de minimis rules are confirmed. Many fast-fashion companies have already diversified their supply chains – making more in India, Bangladesh or Turkey. Trump’s tax changes could accelerate this further.Shein is reportedly incentivising Chinese suppliers to set up in Vietnam, according to a report by Bloomberg.It is not clear when the new rules might be implemented as the US tries to put the technology and workforce in place to handle the new system. Experts say it could take weeks or months.While there is a chance that Trump will change his mind, as he has done on tariffs with Canada and Mexico, no business can bet on which way the US might jump. More

    • 150 Shares99 Views

      in Elections

      Woman Pleads Guilty in Covid Tax Credit Scheme That Netted $33 Million

      by

      A Nevada business owner prepared and filed false tax returns to fraudulently obtain Covid relief money for her businesses and others, prosecutors said.Some people binge-watched shows during the Covid pandemic. Others picked up pickleball. But according to federal prosecutors, one Las Vegas woman prepared and filed false tax returns for her business and others at a busy average rate of nearly 80 per month.Over a 16-month period beginning in June 2022, the Justice Department said Friday, the woman, Candies Goode-McCoy, filed more than 1,200 returns in order to fraudulently claim Covid-19 tax credits of nearly $100 million.Ms. Goode-McCoy, 34, who pleaded guilty under a plea agreement on Thursday in U.S. District Court in Las Vegas to charges of conspiracy to defraud the government, managed to get the I.R.S. to pay out about $33 million, prosecutors said. She took $1.3 million of that herself, they said, and received an additional $800,000 from those for whom she prepared the false returns.Ms. Goode-McCoy, who could face as much as 10 years in prison when she is sentenced in February 2026, used the money to gamble at casinos, take vacations and buy luxury cars, prosecutors said. She also purchased designer clothing from Dolce & Gabbana, Gucci and Louis Vuitton, court documents show.Her lawyer could not be reached for comment on Friday.According to prosecutors, the businesses for which Ms. Goode-McCoy prepared taxes were not eligible to receive the refundable credits in the amounts claimed.Under the plea agreement, Ms. Goode-McCoy agreed to return the most of the $33 million that was fraudulently obtained.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 75 Shares149 Views

      in Elections

      5 of America’s Strangest Polling Places

      by

      Grab a snack, do your laundry and cast a ballot.This article is part of A Kid’s Guide to the Election, a collection of stories about the 2024 presidential election for readers ages 8 to 14, written and produced by The New York Times for Kids. This section is published in The Times’s print edition on the last Sunday of every month.Every Election Day, millions of adults line up to vote at schools, community centers, libraries and other public buildings. But sometimes election officials don’t have enough places. To make sure everyone is able to get to a polling location that’s convenient, officials have to get creative, asking local business owners to lend space. Here are five unusual spots where Americans will pick the next president.Wash, Dry, Fold, VoteThe City of Chicago doesn’t own a building in the neighborhood of Chicago Lawn, so Wash Smart Laundry is helping out by tucking polling booths among the washers and dryers. It’s making it easier for people in the area to cast their ballots. And it has been good for business, too, says Andrea Castillo, the manager. New customers have been coming in after hearing that they can do their laundry and their civic duty at the same time. But occasionally they get a little confused: When they’re asked to show their ID to vote, some people accidentally show their laundry card instead.Presidents and PastriesDuring the 2020 election, early in the pandemic, San Francisco officials wanted to spread out polling stations to reduce crowds. So they asked La Boulangerie, a cafe and bakery, to donate space, and things worked out so well that the place decided to keep doing it. This will be the third time half the cafe is emptied out to squeeze in six voting booths. Jennifer Cusguen, a manager, says the staff likes helping the community by making it easier to vote. And they’ve learned an important lesson: Voters love almond croissants. This year, they’ll stock extras so they don’t sell out again.Tomi UmWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 88 Shares149 Views

      in Elections

      Want to Understand America? Watch ‘Shark Tank.’

      by

      One day in late June, a panel of investors entertained business ideas from around the country. A kitschy advent calendar. A fancy mini-fridge for drinks. A flashlight that emits beams from multiple angles. A machine that grows mushrooms. Bendable cups. Pet plants (for you, not your cat). This was the Los Angeles set of “Shark […] More

    • 125 Shares159 Views

      in US Politics

      Ohio residents flock to Springfield’s Haitian restaurants: ‘They are family’

      by

      The line down the center of the Rose Goute Creole restaurant on Springfield, Ohio’s South Limestone Street is halfway out the door. It’s been like this ever since former president Donald Trump falsely accused immigrants in Springfield of eating cats and dogs during a televised debate on 10 September.At the back of the restaurant, kitchen staff scramble to take orders and load plates of herring patties, rice and beans, and barbecued chicken legs on to serving trays. Outside, cars with plates from Georgia, Wisconsin and Indiana – diners who’ve stopped off a nearby highway to show support for the Haitian community – fill the parking lot.It’s a partly chaotic scene, as Dady Fanfan, a 41-year-old from Plaisance in northern Haiti, stands inside the door, greeting diners as they enter, before slipping away to clear nearby tables.“One day I came to the restaurant to buy something, and I saw there was a lot of people,” says Fanfan, who despite not knowing the restaurant owners personally is this week spending his free time helping his countrymen and women. “I just stayed a little bit to help them, and then the next day I came because they are family.”As Trump and JD Vance, the Republican vice-presidential candidate and Ohio senator, continue to spread false information about Haitians in Springfield, regular people from the city and beyond are taking it upon themselves to seize back the narrative around immigrants in the Ohio city.And the outpouring of support aimed at countering Trump’s damaging comments hasn’t been limited to volunteering.Many community healthcare centers and support organizations that have been assisting Haitians in Springfield for several years are reporting increased donations and contributions coinciding with the furor of the past 10 days.“In the last three days, we’ve taken cash donations about seven times the normal rate, and it’s specifically because of this polarization,” says Casey Rollins, executive director of Springfield’s Society of St Vincent de Paul. She says the money is then transferred to gift cards to be used by those in need at a local international grocery store.Unlike his party colleagues, Ohio’s Republican governor, Mike DeWine, has come out in strong support for the Haitian community, urged Trump and Vance to end their “very hurtful” comments and pledged $2.5m over two years to assist healthcare organizations in Springfield.“I’m just trying to make it easier for them to go through the firestorm that they’re in,” says Sammy, who drove her Yamaha motorbike 176 miles (283km) from Cleveland last Saturday and pulled into the parking lot of the Haitian Community Help and Support Center without knowing a single person in town. Seeing the threats and hate for Springfield’s Haitians online and having served in the army, she wanted to help protect people she saw as innocent victims.“I believe that America does best when it is one community standing up for, protecting and in solidarity with another,” she says.Sammy, who asked not to be fully identified as she is a trans woman in the process of changing names, says she’s seen supporters bring fresh garden vegetables, perform yard work around the center, and drop off furniture and office supplies.“It’s been one of the most American experiences of my life,” she says.“It’s humbling.”As Sammy speaks, JoAnn Welland, 79, from the neighboring town of Enon, walks by the front of the center, asking where she can donate.“The people who are coming here [from Haiti] have sacrificed so much to come, and Springfield, in my opinion, is a lovely town,” she says. Welland says she was motivated to get into her car and drive to the Haitian community center to donate after hearing the lies on television about Haitians eating pets.skip past newsletter promotionafter newsletter promotion“Then, I heard that the town hall got a bomb threat, the elementary school got a bomb threat. The hatemongering, that’s wrong. That’s ugly and negative and hateful. This is my way of standing up for truth,” Welland says.But even as Welland speaks, across town three supermarkets are abruptly evacuated and closed due to bomb threats, dozens of which have set the town on edge since Trump singled out Springfield during last week’s debate. One Springfield elementary school saw around 200 children absent from classes on Tuesday due to security concerns and bomb threats, which largely have been found to be hoaxes.Earlier this week, CultureFest, a fall festival beloved by locals, was canceled to “prevent any potential risks” to attendees. A debate involving local politicians up for election has also been canceled.Springfield’s Republican mayor, Rob Rue, has pleaded for both presidential candidates not to come to the town, saying it would place an extreme strain on the city’s already stretched resources. Despite that, at a rally in New York on Wednesday, Trump said he’d travel to Springfield in the coming weeks.Back at the Rose Goute Creole restaurant, the stream of customers keeps coming. Orders stack up as hungry Haitian workers wearing T-shirts depicting their employers dart over to the counter to collect their orders before scampering back out the door.And Fanfan isn’t alone. Amanda Payen hands out free bottles of water and asks diners if they’re being served. Her husband, Jacob, who’s from Port-au-Prince but lived in Florida for decades before coming to Springfield, thanks diners for coming in as they leave.None are employees of the restaurants, but as Haitians, they want to help.“I’ll come back again tomorrow,” says Fanfan, “and if I see they need help, I’ll stay.” More